The Hydrogen fuel cell vehicle is a form of vehicle that utilizes a hydrogen fuel cell to power its on-board electric motor. This vehicle does not relief any greenhouse gas (GHG) emissions throughout the vehicle operation contrasting diesel-powered and gasoline vehicles. Further, widespread support from the government to influence the hydrogen fuel cell infrastructure propels the market growth.
According to the report analysis, ‘Hydrogen Fuel Cell Vehicle Market by Vehicle Type
(Passenger Vehicle and Commercial Vehicle) and Technology (Proton Exchange
Membrane Fuel Cell, Phosphoric Acid Fuel Cells, and Others): Global Opportunity
Analysis and Industry Forecast, 2019-2026’ states that in
the hydrogen fuel cell vehicle market there are several corporates which
presently functioning more actively for leading the fastest market growth and
registering the greatest value of market share around the globe throughout the
near years while analyzing an studying the favorable policies of the government
and competitive strategies of the competitors, implementing the profitable
strategies, delivering the better consumer satisfaction, decreasing the linked
prices, advancing the applications o such, spreading the awareness related to
the features of such and employing the young work force includes Honda, Toyota,
Hyundai, Daimler, Audi, BMW, Volvo, Ballard Power Systems, General Motors, MAN
and several others.
Although, the hydrogen fuel
cell vehicle market is projected to witness progressive growth throughout
the forecast period, due to the advancement of infrastructure to produce
hydrogen. Further, domestic existence of hydrogen fuel cell vehicle (HFCV) OEMs
across the globe and developments in antagonistic hydrogen refueling stations
(HRS) propel the market growth. However, the initial large investment in
infrastructure is projected to limit the market growth. Moreover, augment in
launch of government initiatives to influence the hydrogen fuel cell
infrastructure delivers a foremost growth opportunity.
In addition, the foremost factors that affect the growth of the worldwide
market involve surge in environmental concerns, effective growth in government
initiatives for advancement of hydrogen fuel cell infrastructure, great initial
investment in infrastructure, and technological advancement and forthcoming
potential. Each of these aspects is anticipated to have a definite impression
on the hydrogen fuel cell vehicle market during the estimate period.
Whereas, owing to increase in concerns of atmosphere degradation
and lessening of natural resources, several technologies are being established
in the market that supports the eco-friendly concept to endure the environment.
Moreover, augment in awareness toward the significances of air pollution and increase
in levels of traffic & greenhouse gas emission propel the implementation of
hydrogen fuel cell vehicles, as it is eco-friendly than other conventional
vehicles.
The hydrogen fuel cell vehicles are more effectual over IC engine
vehicles and hybrid vehicles and have effectiveness of 60-70% over the other
two. The requirement for fuel-efficient vehicles has augmented recently due to increase
in price of petrol and diesel. This has also resulted owing to diminishing
fossil fuel reserves and growth in propensity of companies to obtain the
maximum profit from these oil reserves. Thus, such factors boost the requirement
for the advanced fuel-efficient technologies, leading to increase in requirement
for hydrogen fuel cell vehicles for travel. Therefore, in the near years, it is
predicted that the market of hydrogen fuel cell vehicle will increase around
the globe more actively over the upcoming years.
For More Information, refer to
below link:-
Global
Hydrogen Fuel Cell Vehicle Market
Related
Report:-
Global
Hydrogen Fuel Cell Vehicle Market to reach USD 37645.9 million by 2026
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
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