Hydrogen Fuel Cell Vehicle Market Definition
Hydrogen fuel cell vehicles (HFCVs) have a substantial potential to moderate emissions because they do not produce any greenhouse gases (GHGs) during vehicle operation. The Japanese automakers are always been the main proponents of hydrogen fuel as the perfect replacement for diesel fuels and gasoline. Currently, there are three hydrogen fuel cell cars available for lease or purchase which are the Toyota Mirai, the Honda Clarity Fuel Cell, and the Hyundai NEXO. Hydrogen vehicles are mostly electric cars with a fuel tank. They boast the performance and instant torque of battery-electric cars while providing a better range than any pure EV on the markets. The global HFCV car stock reached approx.11,200 units in 2018. The United States accounts for about half of the global HFCVs in circulation, followed by Japan, Korea, Germany, and France.
The market study is broken down, by Application (Passenger Cars and Commercial Vehicles) and major geographies with country level splits.
Manufacturers of Hydrogen Fuel Cell Vehicles, Suppliers of Hydrogen Fuel Cell Vehicles, Automotive Industry, Regulatory Bodies and Governmental Bodies Research Analyst at AMA estimates that German Vendors will contribute to the maximum growth of Global Hydrogen Fuel Cell Vehicle market throughout the predicted period.
Hyundai (South Korea), Toyota (Japan), Honda (Japan), Daimler AG (Germany), Audi (Germany), BMW (Germany), AB Volvo (Sweden), Ballard Power Systems (Canada), General Motors (United States) and GMC (United States) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global Hydrogen Fuel Cell Vehicle market by Type, Application and Region.
On the basis of geography, the market of Hydrogen Fuel Cell Vehicle has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Hydrogen Storage Techniques, the sub-segment i.e. Pressurized Tank Storage will boost the Hydrogen Fuel Cell Vehicle market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Hydrogen Production Pathways, the sub-segment i.e. Natural Gas will boost the Hydrogen Fuel Cell Vehicle market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Hydrogen vehicles registered in the UK need vehicle special orders (VSOs). However, since 1st October 2017, where an FCEV has EU type approval, a VSO is no longer required. For identification of FCEVs, measures in Regulation EC No. 406/2010 require FCEVs to carry green diamond labels. and Regulation EC No. 79/2009 of the European Parliament and of the Council of 14 January 2009 on type-approval of hydrogen-powered motor vehicles, and amending Directive 2007 46 EC and Regulation EC No. 406/2010 of 26 April 2010 implementing Regulation (EC) No. 79/2009 of the European Parliament and of the Council on type-approval of hydrogen-powered motor vehicles.
- Manufacturers are Constantly Trying to Emphasis on Innovation in the HFCVs In Order To Enhance the Efficiency in Automotive Sector
- Increasing Demand for Hydrogen FCVs as They Are Potential Option for Reducing Emissions from the Transportation Sector
- Improved Fuel Efficiency and Increased Driving Range
- Hydrogen fuel and HFCVs are increasingly becoming a Collective International Endeavour
- OEMs Are Continuing To Improve HFCV Technology
- High Cost of Hydrogen Fuel Cell Vehicles
- Inadequate Hydrogen Infrastructure
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
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