The global PEMFC and Fuel Cell Electric Vehicle market Registering 30.85% CAGR accounted around $3 billion in 2020 and is expected to witness higher growth in the coming years. (2021-2026)
Fuel cell operations rely heavily on hydrogen The hydrogen infrastructure includes storage, distribution, transportation and hydrogen production. Once produced, a hydrogen needs to distributed. It can be sent to point-of-use either through different means of transportations or pipelines. Availability of hydrogen fuel pumps decides the commercial roll-out of hydrogen fuel cell vehicles. The United States has the largest number of hydrogens refueling stations which are important centers for fuel cell vehicles. That is the reason the US along with Germany and Japan will remain as the primary market for fuel cell vehicles. However, other prominent countries in the world lack the basic infrastructure which is necessary for the delivery of hydrogen. It is expected that these countries however will have hydrogen filling stations in the coming decade.The increasing number of hydrogen refueling facilities coupled with rapid technological advancements are positively influencing the market progression. The rapid adoption of industry 4.0 technologies and automated zero emission machines in the manufacturing sector in Asia Pacific countries is fostering the acceptance of FCEVs. Rapid industrialization and the expansion of production facilities are providing a positive market outlook for product penetration.
Recent Developments-
PEMFC and Fuel Cell Electric Vehicle Market is segmented based on the type, applications, companies and regions.
Asia Pacific is expected to account for the largest market size during the forecast period
In this report, the market has been examined for four regions, Asia Pacific, North America, Europe, Rest of the World (RoW). Asia Pacific is projected to be the major market from 2020 to 2025 and is predictable to see a high call for developments in fuel cell technology due to the growing use of fuel cell-powered vehicles in the region. Also, the cumulative power generation from cleaner energy foundations is further predictable to increase the developments in fuel cell technology market in the region.
Countries such as Germany, the UK, the US, Japan, and China amid a few major investors in fuel cell technology and its advancements. For instance, the US Department of Energy proclaimed an investment of USD 39 million in fuel cell technology in 2018. Likewise, in Europe, 23 countries collaborated on the HyLAW EU Project, which aimed at identifying and removing legal and administrative barriers for the deployment of hydrogen fuel cells and hydrogen applications.
The report offers in-depth assessment of the growth and other aspects of the PEMFC and Fuel Cell Electric Vehicle Market in important regions, including the
North America
Report Attributes | Report Details |
Report Title | PEMFC and Fuel Cell Electric Vehicle Market - Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Ballard, Shenli Hi-Tech, Sunrise Power, Pearl Hydrogen |
Forecast Period 2022 to 2027 CAGR | CAGR of 30.85% during the review period (2022 to 2027). |
By Type |
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By Application |
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By Companies | Ballard, Shenli Hi-Tech, Sunrise Power, Pearl Hydrogen, Wuhan WUT, Foton, FeiChi Bus, SAIC, Dongfeng, Yutong and others. |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 99 |
Customization Available | Yes, the report can be customized as per your needs |
What is the study period of this market?
The PEMFC and Fuel Cell Electric Vehicle Market is studied from 2017 - 2027.
What is the growth rate of PEMFC and Fuel Cell Electric Vehicle Market?
The PEMFC and Fuel Cell Electric Vehicle Market is growing at a CAGR of 30.85% over the next 5 years.
What regions does this PEMFC and Fuel Cell Electric Vehicle Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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