Global Fuel Cell Vehicle Market Size, Trends, and Growth Opportunity, By Vehicle Type (Passenger Cars, LCVs, HCV) By Region and forecast till 2027.
Global Fuel Cell Vehicle Market
The market for fuel cell vehicles was estimated at USD 1.44 billion in 2021 and is projected to grow to USD 36.89 billion from 2022 to 2027 at a CAGR of 49.9%.
Fuel cell vehicles are more economical than internal combustion engine vehicles and expand their applications to increase efficiency.
Market Drivers
Growing population results in rising pollution levels along with rising petroleum prices shifted the world towards the use of clean fuels and green technology to overcome carbon emissions. Additionally, the expanding automobiles and environment-friendly vehicles along with strict environmental laws for hazardous gas emissions from combustion engine vehicles propelling the growth of the fuel cell vehicle market.
Market Restraints
Fuel cell vehicles are expensively restraining the Fuel Cell Vehicle market growth. additionally, the high flammability of some fuel cells hinders market growth.
COVID-19 Impact on Global Fuel Cell Vehicle Market
An outbreak of covid-19 impacted adversely as the lockdown imposed by the government led to the shutdown of manufacturing units and disruption in the supply chain People are not stepping out of their homes due to fear of contracting the virus shows a negative impact on the Fuel Cell Vehicle market growth.
Market Segmentation
The global fuel cell vehicle market is segmented based on Vehicle Type. Based on Vehicle Type it is segmented into Passenger Cars, LCVs, and HCVs. Based on Region it is segmented into North America, Europe, Asia Pacific, Latin America, and MEA.
Regional Analysis
The global fuel cell vehicle market is segmented into five regions North America, Europe, Asia Pacific, Latin America, and MEA. Asia Pacific dominates the market due to growing sales of cars in this region. Europe also witnessed a significant rise in the Fuel Cell Vehicle market.
Key Players
The Nikola Corporation, Toyota Motor Corporation, Daimler AG, Honda Motors Co Ltd, Volvo AB, General Motors, BMW AG, Audi AG, Hyundai Motor Group, and Ballard Power System Inc. are just a few of the major firms featured in this research.
Market Taxonomy
By Vehicle Type
• Passenger Cars
• LCV’s
• HCV’s
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
Key Question Addressed by the Report
• What are the Key Opportunities in the Global Fuel Cell Vehicle Market?
• What will be the rate of growth from 2022 to 2027?
• Which segment/region will have the highest growth?
• What factors will influence/drive the market?
• What role do key players in the value chain play?
Fuel Cell Vehicle Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Fuel Cell Vehicle Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Fuel Cell Vehicle Market, By Vehicle Type
5.1 Y-o-Y Growth Comparison, By Vehicle Type
5.2 Global Fuel Cell Vehicle Market Share Analysis, By Vehicle Type
5.3 Global Fuel Cell Vehicle Market Share Analysis, By Vehicle Type
5.3.1 Passenger Cars
5.3.2 LCV’s
5.3.3 HCV’s
6 Global Fuel Cell Vehicle Market, By Region
6.1 Global Fuel Cell Vehicle Market Share Analysis, By Region
6.2 Global Fuel Cell Vehicle Market Share Analysis, By Region
7 North America Fuel Cell Vehicle Analysis and Forecast (2022-2027)
7.1 Introduction
7.2 North America Fuel Cell Vehicle Size and Forecast, By Vehicle Type
7.3 North America Fuel Cell Vehicle Market Size and Forecast, By Country
7.3.1 U.S
7.3.2 Canada
7.3.3 Mexico
8 Europe Fuel Cell Vehicle Market Analysis and Forecast (2022-2027)
8.1 Introduction
8.2 Europe Fuel Cell Vehicle Market Size and Forecast, By Vehicle Type
8.3 Europe Fuel Cell Vehicle Market Size and Forecast, By Country
8.3.1 Germany
8.3.2 France
8.3.3 UK
8.3.4 Rest of Europe
9 Asia Pacific Fuel Cell Vehicle Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 Asia-Pacific Fuel Cell Vehicle Market Size and Forecast, By Vehicle Type
9.3 Asia-Pacific Fuel Cell Vehicle Market Size and Forecast, By Country
9.3.1 China
9.3.2 Japan
9.3.3 India
9.3.4 Rest of Asia Pacific
10 Latin America Fuel Cell Vehicle Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 Latin America Fuel Cell Vehicle Market Size and Forecast, By Vehicle Type
10.3 Latin America Fuel Cell Vehicle Market Size and Forecast, By Country
10.3.1 Brazil
10.3.2 Rest of Latin America
11 Middle East Fuel Cell Vehicle Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2Middle East Fuel Cell Vehicle Market Size and Forecast, By Vehicle Type
11.3 Middle East Fuel Cell Vehicle Market Size and Forecast, By Country
11.3.1. Saudi Arabia
11.3.2. UAE
11.3.3. Egypt
11.3.4. Kuwait
11.3.5. South Africa
12 Competitive Analysis
12.1 Competition Dashboard
12.2 Market share Analysis of Top Vendors
12.3 Key Development Strategies
13 Company Profiles
13.1. Daimler AG
13.1.1 Overview
13.1.2 Offerings
13.1.3 Key Financials
13.1.4 Business Segment & Geographic Overview
13.1.5 Key Market Developments
13.1.6 Key Strategies
13.2. Honda Motors Co Ltd
13.2.1 Overview
13.2.2 Offerings
13.2.3 Key Financials
13.2.4 Business Segment & Geographic Overview
13.2.5 Key Market Developments
13.2.6 Key Strategies
13.3. Nikola Corporation
13.3.1 Overview
13.3.2 Offerings
13.3.3 Key Financials
13.3.4 Business Segment & Geographic Overview
13.3.5 Key Market Developments
13.3.6 Key Strategies
13.4. Toyota Motor Corporation
13.4.1 Overview
13.4.2 Offerings
13.4.3 Key Financials
13.4.4 Business Segment & Geographic Overview
13.4.5 Key Market Developments
13.4.6 Key Strategies
13.5. Hyundai Motor Group
13.5.1 Overview
13.5.2 Offerings
13.5.3 Key Financials
13.5.4 Business Segment & Geographic Overview
13.5.5 Key Market Developments
13.5.6 Key Strategies
13.6. Ballard Power System Inc
13.6.1 Overview
13.6.2 Offerings
13.6.3 Key Financials
13.6.4 Business Segment & Geographic Overview
13.6.5 Key Market Developments
13.6.6 Key Strategies
13.7. Volvo AB
13.7.1 Overview
13.7.2 Offerings
13.7.3 Key Financials
13.7.4 Business Segment & Geographic Overview
13.7.5 Key Market Developments
13.7.6 Key Strategies
13.8. General Motors
13.8.1 Overview
13.8.2 Offerings
13.8.3 Key Financials
13.8.4 Business Segment & Geographic Overview
13.8.5 Key Market Developments
13.8.6 Key Strategies
13.9. BMW AG
13.9.1 Overview
13.9.2 Offerings
13.9.3 Key Financials
13.9.4 Business Segment & Geographic Overview
13.9.5 Key Market Developments
13.9.6 Key Strategies
13.10. Audi AG
13.10.1 Overview
13.10.2 Offerings
13.10.3 Key Financials
13.10.4 Business Segment & Geographic Overview
13.10.5 Key Market Developments
13.10.6 Key Strategies
