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Fuel Cell Vehicles Market Size, Share, Analysis, Growth, Trends and Forecas... PowerPoint PPT Presentation


The global fuel cell vehicles market is expected to grow at a fast pace over the next seven years owing to the stringent environment regulations by regional bodies including REACH and EPA to limit harmful emissions from vehicles which have resulted in several environmental and health problems.

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Fuel cell vehicles market size share analysis growth trends and forecasts 2016 to 2024 hexa research

Hexa Research

Fact-based market research, penetrating industry insights and validated

forecasts to help you make better decisions for a stronger future

Fuel Cell Vehicles Market Size, Share, Analysis, Growth, Trends

and Forecasts, 2016 to 2024 | Hexa Research

The global fuel cell vehicles market is expected to grow at a fast pace over the next

seven years owing to the stringent environment regulations by regional bodies including

REACH and EPA to limit harmful emissions from vehicles which have resulted in

several environmental and health problems.

Fuel cell technology for vehicles is gaining prominence globally owing to its

environment-friendly and uniqueness in nature. The technology has the capability to

power numerous vehicle types including the airport, passenger, power forklifts, and

heavy duty tugs.

Various product features such as noise free operations and high energy efficiency &

density conversion have been surging their demand in various automotive types and

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Fuel cell vehicles market size share analysis growth trends and forecasts 2016 to 2024 hexa research

Hexa Research

Fact-based market research, penetrating industry insights and validated

forecasts to help you make better decisions for a stronger future

trend is expected to continue over the next eight years. Major automobile

manufacturers have also started implementing fuel cell vehicle program to follow

emission standards by aforementioned regulatory bodies.

Browse Details of Report@

https://www.hexaresearch.com/upcoming-research/fuel-cell-vehicles-market

To reduce environmental effects from vehicles emission, the U.S. Department of

Energy has fixed certain standards and goals. Fuel cell vehicles are highly proficient

and meet various standards, which makes them a most suitable substitute to standard

fuel-based eight. This factor is expected to be one of the key drivers for industry growth

over the next seven years.

Durability is one of the most important factors for consumers worldwide. There is a

definite durability range set by the U.S. Department of Energy. The product is

considered to meet these ranges which are expected to fuel demand over the forecast

period. Increasing demand for fuel cell based automobile is also anticipated to create

numerous business prospects and employment mainly in R&D field as the market is still

in its developing stage.

The products are primarily employed in the transportation sector which helps in

expanding energy sources and reduces environmental effects, such as lower carbon

emission levels, causing less global warming and greenhouse effect and hence

decrease in air pollutants. This is expected to have a positive impact on the industry

over the next eight years.

As per National Research Council, there has been a reduction in greenhouse gasses

emission level over the past few years owing to increasing hydrogen-based fuel cell

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Fuel cell vehicles market size share analysis growth trends and forecasts 2016 to 2024 hexa research

Hexa Research

Fact-based market research, penetrating industry insights and validated

forecasts to help you make better decisions for a stronger future

vehicles. The study also stated that there is a collapse in oil consumption level, chiefly

in the transportation sector. Reduction in oil consumption and in requirement of oil

import while greenhouse emissions and minimal air pollutants will result in no climate

change. Reduced dependence on oil imports will further effect into deficit trade

balance, largely in emerging regions.

National Research Council mentioned that the commercialization of vehicles is

expected to start in 2015, and the number of automobiles is expected to grow over 2

million by 2020. Increasing demand primarily in public transit systems is anticipated to

drive the global market over the next eight years.

Global fuel cell vehicle market is segmented into forklifts, airplanes, submarines, buses,

motorcycles & bicycles, trams, and boats. The buses segment is anticipated to account

for majority market share followed by bicycles & motorcycles. Forklifts and airplanes

are expected to grow at a substantial growth rate over the forecast period.

Geographically, the global fuel cell vehicle market is segmented into North America,

Asia-Pacific, Latin America, Middle East and Africa, and Europe. North America is

anticipated to witness significant growth over the next eight years owing to numerous

government initiatives for the advancement of hydrogen infrastructure to encourage

hydrogen fuel cell vehicles in this region. The U.S., Germany, France, the UK, and Italy

are projected to account for highest growth in these regions primarily due to rising R&D

endeavors by the companies and presence of large market players dedicated to the

developing technology.

Asia-Pacific is expected to witness the fastest growth over the forecast period owing to

government initiatives encouraging the technology mostly in emerging nations such as

China, India, Vietnam, and South Korea. These are projected to account for the

Contact: +1-800-489-3075

Email : [email protected]

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Fuel cell vehicles market size share analysis growth trends and forecasts 2016 to 2024 hexa research

Hexa Research

Fact-based market research, penetrating industry insights and validated

forecasts to help you make better decisions for a stronger future

significant market share in the region on account of rising industrial application,

economic developments and technology adoption for various industrial operations.

The Middle East & Africa is projected to see significant growth over the next eight years

owing to increasing urbanization, globalization, and industrialization. The market has

high potential due to growing economic development and rising purchasing power

parity of consumers.

Key players dominating the global industry include Acumentrics SOFC Corporation,

Altergy Systems, Automotive Fuel Cell Cooperation Corp., BIC Consumer Products,

Cellkraft AB, Ballard Power Systems, Ceramic Fuel Cells Ltd. While, other significant

players include BMW, Audi AG, GreenGT, Proton Power Systems PLC, Hydrogenics,

Nissan, Toyota Motor Corporation, Daimler AG, Ballard, and VW Group. Manufacturers

have been conducting extensive studies and research for technological developments.

The market is likely to witness a considerable number of new entrants over next eight

years.

Through mergers & acquisitions and strategic expansions, numerous companies have

been trying to cater large customer base. Rising R&D expenditure and continuous

innovation are expected to be key strategies over the next eight years to develop

premium and high-value products with an optimum cost for the highly price sensitive

industry.

Browse Related Category Market Reports @ https://www.hexaresearch.com/research-

category/automotive-and-transportation-industry

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Email : [email protected]

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Fuel cell vehicles market size share analysis growth trends and forecasts 2016 to 2024 hexa research

Hexa Research

Fact-based market research, penetrating industry insights and validated

forecasts to help you make better decisions for a stronger future

About Us:

Hexa Research is a market research and consulting organization, offering industry reports,

custom research and consulting services to a host of key industries across the globe. We

offer comprehensive business intelligence in the form of industry reports which help our

clients obtain clarity about their business environment and enable them to undertake

strategic growth initiatives.

Contact Us:

Ryan Shaw

Hexa Research

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6265 Highway 9

Felton, California 95018

United States

Phone: +1-800-489-3075

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Contact: +1-800-489-3075

Email : [email protected]

Website: http://www.hexaresearch.com/


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