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Fuel Cell Electric Vehicle (FCEV) Market

The global fuel cell electric vehicle market is expected to witness a CAGR of 37.5% during the forecast period. FCEVs vehicle uses hydrogen as a source of energy to generate electricity, allowing the vehicle to be emission-free, thus, FCEVs are future eco-friendly mobility as it emits pure water and filters ultrafine dust from the atmosphere when driven.

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Fuel Cell Electric Vehicle (FCEV) Market

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  1. Fuel Cell Electric Vehicle (FCEV) Market

  2. About VynZ Research… • VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. • VynZ Research has one of the most qualified & experienced analysts, who are constantly tracking the markets and the technologies. The research team has years of proven experience and wide knowledge & understanding of the technology, application, business models, and regulators of the segments and the value chain involved. • A trusted & proven methodology that involves highest quality of primary research, secondary analysis collated & verified through various sources including cross checking with different industry experts. • Serving wide range of customers most of them from Fortune 2000 companies • With a dedicated 24x7 customer helpline our customers can reach for specifying their needs • Developing long term relationship with the clients and satisfying them is one of the crucial notches of the company. VynZ Research aims at gaining and retaining its clients in order to make long term customer relationship.

  3. Fuel Cell Electric Vehicle (FCEV) Market The global fuel cell electric vehicle market is expected to witness a CAGR of 37.5% during the forecast period. FCEVs vehicle uses hydrogen as a source of energy to generate electricity, allowing the vehicle to be emission-free, thus, FCEVs are future eco-friendly mobility as it emits pure water and filters ultrafine dust from the atmosphere when driven. The benefits associated with the fuel cell electric vehicle market include no harmful tailpipe emissions, longer drive range offered by these vehicles, flexibility in installation and operation, reduced dependency on oil, resulting in the growth of the fuel cell electric vehicle market. The rise in consumer awareness regarding healthy air quality, detrimental effects of vehicular emissions, rising investments from local and state governments in the advancement of hydrogen refueling infrastructure, and development of Polymer Electrolyte Membrane (PEM) technology will provide fuel cells to operate at low temperatures and allow quick start to FCEVs, resulting in the growth of the global fuel cell electric vehicle market.

  4. Fuel Cell Electric Vehicle (FCEV) Market Toyota formed a joint venture in China with five other companies for the development of fuel cells. United Fuel Cell System R&D, the joint venture fetched an initial investment of $46 million. The companies involved in the joint venture are Dongfeng Motor Corp., Guangzhou Auto, China FAW Corp., Beijing Automobile Group Co., and Beijing SinoHytec Co. The COVID-19 outbreak has led to sluggish growth in the fuel cell electric vehicle market owing to dropping automobiles sales that will lead to stable demand for FCEVs. The outbreak has hindered the manufacturers’ production capacity, creating a huge demand-supply gap in the industry and a steep decline in consumers’ disposable income. These all factors have led to decline in the fuel cell electric vehicle market.

  5. Fuel Cell Electric Vehicle (FCEV) Market Asia-Pacific is anticipated to be the highest market share in the global fuel cell vehicle market owing to the increasing fuel cell stack shipments for the transportation industry, measures such as zero-emission vehicles in Tokyo Summer Games 2021 will have positive growth in the fuel cell electric vehicle market in the region. Some of the major players in the global fuel cell electric vehicle market include TOYOTA MOTOR CORPORATION, Honda Motor Co., Ltd., Hyundai Motor Company, ASHOK LEYLAND, Nikola Corporation, Daimler AG, Solaris Bus & Coach sp. z.o.o., SAIC Motor Corporation Limited, Tata Motors, and Volkswagen AG.

  6. For Sample Report :- https://www.vynzresearch.com/automotive-transportation/fuel-cell-electric-vehicle-market/request-sample www.vynzresearch.com

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