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Hydrogen Vehicle Market - Growth, Trends And Forecast (2021 - 2026) By Types, By Application, By Regions and By Key Players - Toyota, Hyundai, Honda, Foton

08 Jan, 2020 | 90 Pages
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The hydrogen vehicle market size was valued at $641.9 million in 2018 and is projected to reach $41,038.9 million by 2026, growing at a CAGR of 65.9% from 2021 to 2026


Hydrogen Vehicle Market Overview


Instead of conventional fuel, hydrogen vehicles use hydrogen fuel cells. Due to fuel cells, chemical energy is converted into electrical energy. The factors that are expected to drive the growth of the market for hydrogen vehicles are an increase in the adoption of technological advancements and efforts from government bodies to reduce the emission of harmful gases over the forecast period.
Lack of fuel sources along with lack of alternatives for the same and growing concerns over carbon footprint is also playing a key part in growing the hydrogen vehicle market.
Hydrogen vehicles control the CO2 emission because hydrogen combines with oxygen in the fuel cell which creates water, a clean by-product. As hydrogen vehicles are eco-friendly, the demand for them is rising.


Recent Development



  • Toyota Motor Corporation (Toyota) stated that it is developing a hydrogen engine to help establish a carbon-free mobility society. It has put the engine in a racing vehicle based on the Toyota Corolla Sport that will compete under the ORC ROOKIE Racing name beginning with the Super Taikyu Series 2021 Powered by Hankook Round 3 NAPAC Fuji Super TEC 24 Hours Race on May 21-23.

  • Hydron Motors declared a business combination with Decarbonization Plus. The company will be able to fully fund and support Hyzon's long-term expansion strategy in the hydrogen fuel cell-powered, zero-emission commercial transportation industry as a result of this acquisition


Who are the Major Players in Hydrogen Vehicle Market?


Top Key Players in the Hydrogen Vehicle Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Hydrogen Vehicle Market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report includes Toyota, Hyundai, Honda, Foton, SAIC, FeiChi Bus, Dongfeng, and others.


Global Hydrogen Vehicle Market research provides a detailed Analytical Insights of global market size, regional and country-level scope, segmentation wise growth, global share, Competition Scenario, sales analysis, impact global market players on domestic players, value chain optimization, trade regulations, Latest developments, future opportunities, product launches, expanding marketplaces, and New technological innovations.


What are the major Applications, Types, and Regions for Hydrogen Vehicle Market?


Hydrogen Vehicle Market is segmented based on the type, applications, companies, and regions.


By Type, Hydrogen Vehicle Market has been segmented into 



  • Passenger Vehicle

  • Commercial Vehicle


By Application, Hydrogen Vehicle Market has been segmented into 



  • Commercial Use

  • Home Use


The report offers an in-depth assessment of the growth and other aspects of the Hydrogen Vehicle Market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific, and Latin America.


Regional Analysis


During the projection period, North America will hold the greatest share of the fuel cell market. Considering pollution and environmental issues, the region strongly encourages the use of hydrogen vehicles. With large profit margins and a steady desire for automation, the American sector has benefited from the best technologies available. Advanced automated technologies were embraced by U.S. areas to assist stimulate the automobile industry and grow the market for gasoline-powered equipment as the automobile industry progressed. The use of hydrogen fuel has seen a steady increase in popularity. According to Fact.MR, the market will grow at a CAGR of 4% through 2031.


Hydrogen Vehicle Market highlights the potential growth opportunities in upcoming years while reviewing the market drivers, restraints, growth indicators, challenges, market dynamics, competitive landscape, and other key aspects in the global market. The Global Hydrogen Vehicle Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry. 


What is our Hydrogen Vehicle Market report scope?


The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2021-2026. The report presents the analysis of Hydrogen Vehicle Market for the historical period of 2017-2021 and the forecast period of 2021-2026.


The key insights of the report have been presented through the frameworks of Major Mergers & Acquisitions, Technological Innovations, and Role of Manufacturers during COVID19 Pandemic. Additionally, the major opportunities, trends, drivers and challenges of the industry has been analyzed in the report.


Key Takeaways from this Hydrogen Vehicle Report



  • Evaluate Hydrogen Vehicle market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.

  • Understand the different dynamics influencing the market - key driving factors, challenges and hidden opportunities.

  • Get in-depth insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.

  • Analyze the sales and distribution channels across key geographies to improve top-line revenues.

  • Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.

  • Get a quick outlook on the Hydrogen Vehicle market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.

  • Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.


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.


  1. Hydrogen Vehicle Introduction and Market Overview

    1. Objectives of the Study

    2. Overview of Hydrogen Vehicle

    3. Scope of The Study

      1. Key Market Segments

      2. Players Covered

      3. COVID-19's impact on the Hydrogen Vehicle industry



    4. Methodology of The Study

    5. Research Data Source



  2. Executive Summary

    1. Market Overview

      1. Global Hydrogen Vehicle Market Size, 2016 to 2021

      2. Global Hydrogen Vehicle Market Size by Type, 2016 to 2021

      3. Global Hydrogen Vehicle Market Size by Application, 2016 to 2021

      4. Global Hydrogen Vehicle Market Size by Region, 2016 to 2021



    2. Business Environment Analysis

      1. Global COVID-19 Status and Economic Overview

      2. Influence of COVID-19 Outbreak on Hydrogen Vehicle Industry Development





  3. Industry Chain Analysis

    1. Upstream Raw Material Suppliers of Hydrogen Vehicle Analysis

    2. Major Players of Hydrogen Vehicle

    3. Hydrogen Vehicle Manufacturing Cost Structure Analysis

      1. Production Process Analysis

      2. Manufacturing Cost Structure of Hydrogen Vehicle

      3. Labor Cost of Hydrogen Vehicle



    4. Market Distributors of Hydrogen Vehicle

    5. Major Downstream Buyers of Hydrogen Vehicle Analysis

    6. The Impact of Covid-19 From the Perspective of Industry Chain

    7. Regional Import and Export Controls Will Exist for a Long Time

    8. Continued downward PMI Spreads Globally



  4. Global Hydrogen Vehicle Market, by Type

    1. Global Hydrogen Vehicle Value and Market Share by Type (2016 - 2021)

    2. Global Hydrogen Vehicle Production and Market Share by Type (2016 - 2021)

    3. Global Hydrogen Vehicle Value and Growth Rate by Type (2016 - 2021)
      1. Global Hydrogen Vehicle Value and Growth Rate of Passenger Vehicle

      2. Global Hydrogen Vehicle Value and Growth Rate of Commercial Vehicle

      3. Global Hydrogen Vehicle Value and Growth Rate of Other



    4. Global Hydrogen Vehicle Price Analysis by Type (2016 - 2021)



  5. Hydrogen Vehicle Market, by Application

    1. Downstream Market Overview

    2. Global Hydrogen Vehicle Consumption and Market Share by Application
      (2016 - 2021)

    3. Global Hydrogen Vehicle Consumption and Growth Rate by Application
      (2016 - 2021)
      1. Commercial Use Global Hydrogen Vehicle Consumption and Growth Rate (2016-2021)
      2. Home Use Global Hydrogen Vehicle Consumption and Growth Rate (2016-2021)




  6. Global Hydrogen Vehicle Market Analysis by Regions

    1. Global Hydrogen Vehicle Sales, Revenue and Market Share by Regions

      1. Global Hydrogen Vehicle Sales by Regions (2016 - 2021)

      2. Global Hydrogen Vehicle Revenue by Regions (2016 - 2021)



    2. North America Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    3. Europe Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    4. Asia-Pacific Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    5. Middle East and Africa Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    6. South America Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)



  7. North America Hydrogen Vehicle Market Analysis by Countries

    1. The Influence of COVID-19 on North America Market

    2. North America Hydrogen Vehicle Sales, Revenue and Market Share by Countries

      1. North America Hydrogen Vehicle Sales by Countries (2016 - 2021)

      2. North America Hydrogen Vehicle Revenue by Countries (2016 - 2021



    3. United States Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    4. Canada Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    5. Mexico Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)



  8. Europe Hydrogen Vehicle Market Analysis by Countries

    1. The Influence of COVID-19 on Europe Market

    2. Europe Hydrogen Vehicle Sales, Revenue and Market Share by Countries

      1. Europe Hydrogen Vehicle Sales by Countries (2016 - 2021)

      2. Europe Hydrogen Vehicle Revenue by Countries (2016 - 2021)



    3. Germany Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    4. UK Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    5. France Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    6. Italy Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    7. Spain Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    8. Russia Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)



  9. Asia Pacific Hydrogen Vehicle Market Analysis by Countries

    1. The Influence of COVID-19 on Asia Pacific Market

    2. Asia Pacific Hydrogen Vehicle Sales, Revenue and Market Share by Countries

      1. Asia Pacific Hydrogen Vehicle Sales by Countries (2016 - 2021)

      2. Asia Pacific Hydrogen Vehicle Revenue by Countries (2016 - 2021)



    3. China Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    4. Japan Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    5. South Korea Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    6. India Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    7. Southeast Asia Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    8. Australia Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)



  10. Middle East and Africa Hydrogen Vehicle Market Analysis by Countries

    1. The Influence of COVID-19 on Middle East and Africa Market

    2. Middle East and Africa Hydrogen Vehicle Sales, Revenue and Market Share by
      Countries

      1. Middle East and Africa Hydrogen Vehicle Sales by Countries
        (2016 - 2021)

      2. Middle East and Africa Hydrogen Vehicle Revenue by Countries
        (2016 - 2021)

      Application_List

    3. Saudi Arabia Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    4. UAE Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    5. Egypt Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    6. Nigeria Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    7. South Africa Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)



  11. South America Hydrogen Vehicle Market Analysis by Countries

    1. The Influence of COVID-19 on Middle East and Africa Market

    2. South America Hydrogen Vehicle Sales, Revenue and Market Share by Countries

      1. South America Hydrogen Vehicle Sales by Countries (2016 - 2021)

      2. South America Hydrogen Vehicle Revenue by Countries (2016 - 2021)



    3. Brazil Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    4. Argentina Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    5. Columbia Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)

    6. Chile Hydrogen Vehicle Sales and Growth Rate (2016 - 2021)



  12. Competitive Landscape
    1. Toyota

      1. Toyota Basic Information

      2. Hydrogen Vehicle Product Introduction

      3. Toyota Production, Value, Price, Gross Margin 2016 - 2021



    2. Hyundai

      1. Hyundai Basic Information

      2. Hydrogen Vehicle Product Introduction

      3. Hyundai Production, Value, Price, Gross Margin 2016 - 2021



    3. Honda

      1. Honda Basic Information

      2. Hydrogen Vehicle Product Introduction

      3. Honda Production, Value, Price, Gross Margin 2016 - 2021



    4. Foton

      1. Foton Basic Information

      2. Hydrogen Vehicle Product Introduction

      3. Foton Production, Value, Price, Gross Margin 2016 - 2021



    5. SAIC

      1. SAIC Basic Information

      2. Hydrogen Vehicle Product Introduction

      3. SAIC Production, Value, Price, Gross Margin 2016 - 2021



    6. FeiChi Bus

      1. FeiChi Bus Basic Information

      2. Hydrogen Vehicle Product Introduction

      3. FeiChi Bus Production, Value, Price, Gross Margin 2016 - 2021



    7. Dongfeng

      1. Dongfeng Basic Information

      2. Hydrogen Vehicle Product Introduction

      3. Dongfeng Production, Value, Price, Gross Margin 2016 - 2021





  13. Industry Outlook

    1. Market Driver Analysis

      1. Market Restraints Analysis

      2. Market Trends Analysis



    2. Merger, Acquisition and New Investment

    3. News of Product Release



  14. Global Hydrogen Vehicle Market Forecast

    1. Global Hydrogen Vehicle Market Value & Volume Forecast, by Type (2021 - 2025)
      1. Global Hydrogen Vehicle Value and Growth Rate of Passenger Vehicle

      2. Global Hydrogen Vehicle Value and Growth Rate of Commercial Vehicle



    2. Global Hydrogen Vehicle Market Value & Volume Forecast, by Application (2021 - 2025)
      1. Commercial Use Global Hydrogen Vehicle Consumption and Growth Rate (2021-2025)
      2. Home Use Global Hydrogen Vehicle Consumption and Growth Rate (2021-2025)


    3. Hydrogen Vehicle Market Analysis and Forecast by Region

      1. North America Market Value and Consumption Forecast (2021 - 2025)

      2. Asia Pacific Market Value and Consumption Forecast (2021 - 2025)

      3. Middle East and Africa Market Value and Consumption Forecast (2021 - 2025)

      4. South America Market Value and Consumption Forecast (2021 - 2025)





  15. New Project Feasibility Analysis

    1. Industry Barriers and New Entrants SWOT Analysis

      1. Porter's Five Forces Analysis

      2. New Entrants SWOT Analysis



    2. Analysis and Suggestions on New Project Investment



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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