The global fuel cell vehicle market size is set to touch USD 6,731.4 million by 2026 - PowerPoint PPT Presentation

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The global fuel cell vehicle market size is set to touch USD 6,731.4 million by 2026

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Fuel Cell Vehicle Market Size to Reach USD 6,731.4 Million by 2026; Growing Urgency to Bring Down Vehicular Emissions to Prove Favorable for the Market, Fortune Business Insights™ – PowerPoint PPT presentation

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Title: The global fuel cell vehicle market size is set to touch USD 6,731.4 million by 2026


1
Fuel Cell Vehicle Market Size to Reach USD
6,731.4 Million by 2026 Growing Urgency to
Bring Down Vehicular Emissions to Prove Favorable
for the Market, Fortune Business Insights
Key companies profiled are BMW AG, Daimler AG,
Hyundai Motor Company, AUDI AG, Nissan Motor
Corporation, Toyota Motor Corporation,
more PUNE, India, March 12, 2020 /PRNewswire/ --
The global fuel cell vehicle market size is set
to touch USD 6,731.4 million by 2026, exhibiting
a staggering 29.7 CAGR during the forecast
period. Increasing air pollution levels caused by
cars and other vehicles will propel the growth of
this market, according to the new Fortune
Business Insights report, titled "Fuel Cell
Vehicle Market Size, Share and Global Trend By
Vehicle Type (Passenger Cars, Commercial
Vehicles, Buses Coaches), By End-User (Private,
Commercial), and Geography Forecast till 2026".
The US Environment Protection Agency (EPA)
estimates that 75 of carbon monoxide pollution
in the US is caused by motor vehicles.
Furthermore, according to the Environmental
Defense Fund (EDF), on-road cars are responsible
for 1/3rd of the smog produced in the US, while
vehicles emit 27 of the greenhouse gases (GHGs)
in the country. This scenario has created a
desperate need to evolve technologies that can
curb emissions and help counter the adverse
effects of global warming. Fuel cell vehicles
have emerged as a viable solution, owing to their
proven efficacy in lowering pollution levels,
which is one of the leading fuel cell vehicle
market trends. For instance, the US Department
of Energy opines that hydrogen-powered vehicles
can potentially emerge as zero- GHG emitting
machines as they eliminate the need to use fossil
fuels such as petroleum and diesel. The report
states that the value of this market stood at USD
446.7 million in 2018 and is expected to soar at
a prolific rate in the coming years. The other
highlights of the report include
  • Microscopic analysis of the individual market
    segments
  • An exhaustive study of the market drivers,
    trends, and constraints
  • Comprehensive research into the regional dynamics
    of the market and
  • In-depth assessment of the competitive landscape
    shaping the future of the market. Request a
    Sample Report https//www.fortunebusinessinsights
    .com/enquiry/request- sample-pdf/fuel-cell-vehicl
    e-market-102421
  • Market Restraint
  • Price Hurdles to Inhibit Market Sales
  • The fuel cell vehicle market growth faces a
    challenging obstacle in the form of high initial
    costs of this technology. For example, hydrogen
    fuels cost roughly 14 per kg, more than double
    the price of one gallon of gasoline. Moreover,
    the cost of producing hydrogen is prohibitively
    high and consumers are preferring regular fossil
    fuel-powered vehicles as they are more cost-
    effective, though less energy-efficient. For
    instance, one can travel the same distance
  • in 2.50 gallon of gasoline as in 5.50 kg of
    hydrogen fuel. The main reason for the expensive
    nature of fuel cells is that the technology is
    still in its nascent stage and is yet to evolve
    fully.
  • However, despite being pricey, fuel cells in
    vehicles have a promising future, which augurs
    well
  • for this market in the long-run.
  • List of Key Players Covered in the Fuel Cell
    Vehicle Market Report
  • BMW AG (Munich, Germany)
  • Daimler AG (Stuttgart, Baden-Wurttemberg)
  • Hyundai Motor Company (Seoul, South Korea)
  • AUDI AG (Zwickau, Germany)
  • Nissan Motor Corporation (Yokohama, Kanagawa,
    Japan)

2
  • Toyota Motor Corporation (Toyota, Aichi, Japan)
  • Browse Summary of This Research
  • Report https//www.fortunebusinessinsights.com/fu
    el-cell-vehicle-market-102421
  • Regional Dynamics
  • Asia-Pacific to Occupy Prominent Position Europe
    to Hold Bright Prospects
  • Asia-Pacific is projected to dominate the fuel
    cell vehicle market share owing to the favorable
    environment created by governments in the region,
    supporting the production and adoption of these
    vehicles. In Japan, for example, the government
    provides subsidizes the cost of fuel cell-
    enabled cars to promote the usage of these
    vehicles.
  • The market size in Europe was at USD 79.5 million
    in 2018 and is expected to be the second-
    leading region in this market during the forecast
    period. France is anticipated to boost the market
    here on account of extensive deployment of
    commercial vehicles in the country. On the other
    hand, market growth in North America is expected
    to be stable.
  • Competitive Landscape
  • Wide Opportunities for Innovation to Stimulate
    Intense Competition
  • Being in its early stages of evolution,
    automotive fuel cell technologies offer a wide
    range of innovation opportunities for players in
    this market, says the fuel cell vehicle market
    report. Besides this, some of the top players
    are collaborating to set further milestones in
    terms of innovation in this market.
  • Industry Developments
  • October 2019 The French automotive giant, Groupe
    Renault, announced the launch of its
  • Renault KANGOO Z.E. Hydrogen and Renault MASTER
    Z.E. Hydrogen in late 2019 and early 2020
    respectively. This is part of the company's
    extension of its hydrogen fuel cell technology
    to its electric commercial vehicle fleet.
  • June 2018 AUDI AG and Hyundai Motor Group
    entered into a multi-year licensing partnership
    to develop fuel cell electric vehicle (FCEV)
    components and take the technology forward. The
    move is in line with both the companies' effort
    to strengthen sustainability in the automotive
    industry.

Quick Buy Fuel Cell Vehicle Market Research
Report - https//www.fortunebusinessinsights.com/c
heckout-page/102421 Detailed Table of Content
? Introduction
? ? ? Research Scope Market Segmentation Research Methodology Definitions and Assumptions
? ? ? Executive Summary Market Dynamics
? ? ? Market Drivers Market Restraints Market Opportunities
? ? ? Key Insights
? ? ? Merger, Acquisitions, and Partnerships Distributor Analysis For Major Players Growth and Penetration Analysis
3
? ? ? ? ? Porter's Five Forces Analysis PEST Analysis Vendor Landscape
? ? ? ? ? Global Fuel Cell Vehicle Market Analysis, Insights and Forecast, 2015-2026 Key Findings / Summary Market Analysis, Insights and Forecast By Vehicle Type
? ? ? ? ? Passenger Cars Commercial Vehicles Buses Coaches
? ? ? ? ? Market Analysis, Insights and Forecast By End User
? ? ? ? ? Private Commercial
? ? ? ? ? Market Analysis, Insights and Forecast By Country
? ? ? ? ? North America Europe Asia pacific Rest of the World
TOC Continued.! Get your Customized Research Report https//www.fortunebusinessinsights.com/enquiry/customization/fuel-cell-vehicle- market-102421 TOC Continued.! Get your Customized Research Report https//www.fortunebusinessinsights.com/enquiry/customization/fuel-cell-vehicle- market-102421
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