Global Fuel Cell Commercial Vehicle Market to be Led by buses through 2028
The major drivers for
the Global Fuel Cell Commercial Vehicle Market include vehicles Longer Range
and Faster Refueling and reduced dependency on battery infrastructure are
expected to drive the market in forecast period.
According
to TechSci Research report, “Global Fuel Cell Commercial Vehicle Market– By
Region, Competition, Forecast & Opportunities, 2028,” Global Fuel Cell
Commercial Vehicle Market has valued at USD 2.3 Billion in 2022 and is
anticipated to project robust growth in the forecast period with a CAGR of 43.5%
through 2028. The global fuel cell commercial vehicle market is a revolutionary
development in transportation, driven by the need to address environmental
issues and create sustainable mobility solutions. Fuel cells convert hydrogen
into electricity and power a variety of commercial vehicles, ranging from
trucks to buses. Fuel cell vehicles offer an emission-free alternative to
conventional internal combustion engines. Hydrogen infrastructure is being
developed and governments and industry stakeholders are working together to
scale up refueling networks. Fuel cell technology is emerging as a key
contender in the global transportation industry, as it offers zero emissions,
longer range, and faster refueling times than traditional battery electric
vehicle (BEV) vehicles. Fuel cell commercial vehicle (FCV) is emerging as a
viable option in the search for cleaner transportation.
Browse over xx market
data Figures spread through xx Pages and an in-depth TOC on "Global
Fuel Cell Commercial Vehicle Market"
The evolution of the global FCV market is
shaped by environmental considerations, technological innovation, regulatory
initiatives, and the increasing demand for carbon-neutral mobility solutions. Different
technologies are being introduced in the market to support the concept of
sustainability, as concerns about environmental degradation and depletion are
on the rise. In addition, there is a growing awareness about the effects of air
pollution, rising levels of traffic, and greenhouse gas emissions. Hydrogen
fuel cell vehicle is more environmentally friendly than conventional vehicles
because it offers longer driving ranges than battery electric vehicles. This
makes fuel cell vehicles suitable for long-distance operation, for example, for
long-distance transportation or delivery services. Fuel cell vehicle recharging
takes minutes, which is much shorter than battery electric vehicle recharging.
Fuel cell commercial vehicle success depends on availability of hydrogen
refuelling stations. Government and industry players are investing in
developing hydrogen infrastructure to facilitate the growth of fuel cell
vehicles. The global fuel cell commercial vehicle market segmentation by power
range presents a complex landscape that customizes fuel cell technology based
on diverse operational requirements. Vehicles with a power output of less than
100 kW are suitable for applications such as urban light-duty transport and
last mile delivery, offering a cost-effective and environmentally friendly
solution for short distances in urban settings.
Additionally,
partnerships and collaborations between automotive manufacturers, energy
providers, and technology companies are helping to speed up the introduction of
fuel cell-powered commercial vehicles, while also addressing issues related to
costs, technologies, and infrastructures. In June 2021, General Motors
announced a partnership to develop and implement GM's hydrogen-based hydrogen based
energy cell systems (GEC2) in conjunction with the use of Wabtec's Ultium
Battery Technology (U3), which is intended to be used in commercial vehicles. The
Global Fuel Cell Commercial Vehicle Market is analyzed based on vehicle type, power
range, and by region. Based on the vehicle type the market is divided into Trucks,
Buses. Based on the power range, the market is divided into Below 100 kW, 100
kW - 200 kW, Above 200 kW. Based on the region,
the market is segmented into Asia-Pacific, Europe & CIS, North America, South
America, and Middle East & Africa.
Key market players in
the Global Fuel Cell Commercial Vehicle Market include:
- Toyota
Motor Corp.
- Kenworth
Trucks
- Nikola
Motor Co.
- Zhejiang
Geely Holding Group
- Scania
- BMW
AG
- Volvo
Group
Download Free Sample Report
Customers can also request 10% free customization
on this report.
“The
increase in demand for fuel cell vehicles worldwide, combined with a increasing
infrastructure development significantly affects the expansion of Global Fuel
Cell Commercial Vehicle Market. With their zero-emission profiles, longer
ranges, and quicker refueling times, fuel cell commercial vehicles have the
potential to revolutionize logistics, delivery. The Global Fuel Cell Commercial
Vehicle Market is expected to grow at 43.5% through forecast period.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global
Fuel Cell Commercial Vehicle Market By Vehicle Type (Trucks, Buses), By Power
Range (Below 100 kW, 100 kW - 200 kW, Above 200 kW), By Region, Competition,
Forecast & Opportunities, 2028,” has evaluated the future
growth potential of Automotive Infotainment Systems market globally and
provides statistics and information on market structure, size, share and future
growth. The report is intended to provide cutting-edge market intelligence and
help decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in the Global Fuel Cell Commercial Vehicle
Market.
Contact
Mr.
Ken Mathews
708
Third Avenue,
Manhattan,
NY,
New
York – 10017
Tel:
+1-646-360-1656
Email:
[email protected]
Website:
www.techsciresearch.com