A qualitative report published by Market intelligence data research on “The fuel Cell Cars Market offers an in-depth examination of the current trends, latest expansions, conditions, market size, various drivers, limitations, and key players along with their profile details. The Fuel Cell Cars market report offers the historical data for 2017 to 2022 and also makes available the forecast data from the year 2023 to 2029 which is based on revenue. With the help of all this information research report helps the Market contributors to expand their market positions. With the benefit of all these explanations, this market research report recommends a business strategy for present market participants to strengthen their role in the market. This report analyzes the impact of the Covid 19 pandemic on the Fuel Cell Cars Market from a Global and Regional perspective.
The Global Fuel Cell Cars Market is expected to grow with a CAGR of 5.5% from 2023 to 2029.
Top Key Players are covered in the Fuel Cell Cars Market Report:
Honda, Hyundai, Toyota Mirai, SAIC, Ballard Power Systems (Canada),Hyundai Motor Company (South Korea),Toyota Motor Company (Japan),Nissan Motor Corporation (Japan),Nedstack Fuel Cell Technology (Netherlands),Plug Power (U.S.),American Honda Motor Company, Inc. (Japan),Daimler AG (Germany),Toshiba (Japan),Hydrogenics (Canada),Delphi Technologies (UK),ITM Power (UK),Nuvera Fuel Cells, LLC (U.S.),Ceres Power (UK),AVL (Austria),Bosch (Germany),Continental Industries (Germany),ElringKlinger (Germany),Faurecia (France),FEV Group GmbH (Germany)
KEY INDUSTRY DEVELOPMENTS:
In July 2021, Ballard Power Systems received an order from Siemens to deliver a coupled of its 200-kilowatt (kW) fuel cell modules for the testing of a 2-car Mireo Plus H passenger train in Bavaria, Germany. Siemens Mobility GmbH is projecting to enhance the development of new alternative driving technologies with climate-friendly passenger transportation.
In June 2021, Freudenberg announced to initiate a new strategic relationship with Lürssen Werft, a Germany-based shipyard company, to fabricate advanced FC systems to power heavy-duty mega yachts. The collaboration aims at transforming maritime transportation with new fuel cell technology enabling the vessels to sustain over 15 days at anchor or cruise for above 1,000 miles with zero carbon footprint.
In June 2021, General Motors and Wabtec Corporation declared to ink a Memorandum of Understanding (MoU) to fabricate and commercialize GM’s HYDROTEC H2 fuel cell systems coupled with its Ultium battery technology in Wabtec’s heavy-haul locomotives in trains. The partnership is targeted at boosting the two companies’ goals for zero-emission rail transportation while maintaining the flexibility, reliability, safety, power, and efficiency needed for heavy-duty operations.
In May 2021, Port of Antwerp, DATS 24, and Air Liquide confirmed to engage in collaborative efforts of the HyTrucks consortium to place about 300 H2 fuelled trucks in Belgium by 2025. The association goals to use hydrogen-powered trucks for local and international transport with a key focus across the nearby areas of the port of Antwerp along with other key logistics hubs in Belgium.
The region-wise coverage of the market is mentioned in the report, mainly focusing on the regions:
North America (NA) – US, Canada, and Mexico
Europe (EU) – UK, Germany, France, Italy, Russia, Spain & Rest of Europe
Asia-Pacific (APAC) – China, India, Japan, South Korea, Australia & Rest of APAC
Latin America (LA) – Brazil, Argentina, Peru, Chile & Rest of Latin America
The Middle East and Africa (MEA) – Saudi Arabia, UAE, Israel, South Africa
Asia Pacific is projected to hold a major market share due to the encouraging FCEV deployment targets of governments, coupled with increasing investments in hydrogen fueling infrastructure. Additionally, high fuel stack manufacturing capacities in the region, owing to the presence of various large-scale FC passenger car manufacturers, will also add to the regional landscape.
Ambitious targets directed towards the setting up of new hydrogen fueling stations, coupled with favorable policies to diminish carbon discharges, are set to propel the European market at a significant CAGR. The European Union, moreover, has been formulating and enforcing numerous norms mandating member countries to abide by carbon reduction targets by different years, which is likely to favor the market.
The growth of the North American fuel cell vehicle market size is majorly attributed to the increasing research & development investments by various players, along with a significant allotment of federal R&D budgets for fuel cell technologies. Furthermore, the state and national governments across the U.S. have put forward their plans to deploy a large number of personal and commercial vehicles on roads. For example, in January 2018, the Governor of California signed an Executive Order to amend the initial hydrogen goals of the state to new objectives, including the setting up of 200 hydrogen refueling stations by 2025 and the deployment of five million zero-emission vehicles by 2030.
Market Segment Analysis:
The Fuel Cell Cars Market Report provides a preliminary review of the industry, definitions, classifications, and enterprise chain shape. Market analysis is furnished for the worldwide markets which include improvement tendencies, hostile view evaluation, and key regions development. Development policies and plans are discussed, and manufacturing strategies and fee systems are also analyzed.
Fuel Cell Cars Market Segmentation by Types:
Fuel Cell Cars Market Segmentation by Applications:
For Public Lease
Significant Features and Key Highlights of the Fuel Cell Cars Market Reports:
– Detailed overview of The Fuel Cell Cars market.
– Changing market dynamics of the industry.
– In-depth market breakdown by Type, Application, etc.
– Historic, existing, and predictable market size in terms of extent and worth.
– Recent manufacturing trends and developments.
– Competitive landscape of The Fuel Cell Cars market.
– Approaches to significant performers and product help.
– Prospective and niche sectors/regions exhibiting promising growth.
Detailed TOC of Fuel Cell Cars Market Research Report 2022 – 2028
Chapter 1 Fuel Cell Cars Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers and, Market data
Chapter 4 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 5 Global Production, Revenue (Value), Price Trend by Type and Region
Chapter 6 Global Market Analysis by Application
Chapter 7 Manufacturing Cost and, Gross profit Analysis
Chapter 8 Industrial Chain, Sourcing Strategy, and Downstream Buyers
Chapter 9 Marketing Strategy and, Status Analysis, Distributors/Traders
Chapter 10 Market Driving Effect Factors Analysis
Chapter 11 Global Fuel Cell Cars Market Trends and, Forecast
Chapter 12 Research Methodology
COVID-19 and Russia-Ukraine War Influence Analysis
The readers in the section will recognize how the Fuel Cell Cars market scenario changed across the globe during the pandemic, post-pandemic, and Russia-Ukraine War. The study is done keeping in view the changes in aspects such as demand, consumption, transference, consumer behavior, supply chain management, export and import, and production. The industry experts have also highlighted the key factors that will help create opportunities for players and stabilize the overall industry in the years to come. These factors negatively affected the market during the war.”
The Fuel Cell Cars Market report gives answers to the following:
- What guidelines are followed by key performers to contest this Covid-19 condition?
- What are the important matters drivers, opportunities, challenges, and dangers of the market?
- will face surviving?
- Which are the essential market players in the Fuel Cell Cars industry?
- What is the forecast compound annual growth rate (CAGR) of the global market for the duration of the forecast period (2023 – 2029)?
- What could be the anticipated value of the Fuel Cell Cars marketplace during the forecast period?
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