Hydrogen Fuel to Lead Asia-Pacific Fuel Cell Electric Vehicle Market
Rising demand of clean
energy, low operating cost, technological advancement, and rising environmental
concern are major factor in growth of APAC Fuel Cell Electric Vehicle Market.
According to the TechSci
Research report, "Asia Pacific Fuel Cell Electric Vehicle Market -Industry
Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2030F",
Asia-Pacific fuel cell industry’ is anticipated to expand in the upcoming years.
Increased environmental concerns and rising demand for clean electrical energy
are anticipated to be key market factors. The Asia-Pacific fuel cell electric
vehicle market is anticipated to increase because of the growing demand for
clean energy amid concerns about the environmental impact of energy generation
from conventional sources like coal and natural gas.
The market for fuel cell
vehicles is continually changing and is anticipated to increase rapidly. The
automobile sector is experiencing exciting potential because of the development
of new and diverse technology. While conventional automobiles and trucks are
powered by gasoline or diesel, fuel cell cars and trucks generate energy by
combining hydrogen and oxygen, which powers the motor. A fuel cell vehicle runs
on electricity. It is a fantastic alternative for drivers who require a longer
range and more cargo capacity because it can store a lot of energy and restore
it rapidly. The considerable potential for fuel cell cars to cut emissions from
the transportation sector is one of the factors driving interest in them.
The market for fuel cell
electric vehicles is anticipated to grow due to key driving factors such as the
emphasis on high-quality products, shifting consumer lifestyles, and increased
purchasing power. To increase the efficiency in the automotive sector,
automotive businesses, especially passenger car manufacturers, are continually
attempting to place a greater emphasis on innovation for their product
offerings. Due to changing consumer expectations, accelerating technical
advancements, and changes in the competitive landscape, the market is
undergoing several changes. Growing financial commitments to the commercialization
and construction of refuelling infrastructure will be important drivers of the
market's expansion in the years to come.
Browse more thanXX market data Figures spread through XX Pages and an in-depth TOC on "Asia-Pacific Fuel Cell Electric Vehicle Market"
APAC
Fuel Cell Electric Vehicle Market can be segmented based on vehicle type, fuel
type, battery capacity, and region. According to vehicle type, it is
anticipated that the Asia-Pacific electric vehicle market will be dominated by
the passenger vehicle sector. This is brought on by a combination of factors,
including more pro-electrification, government regulations and subsidies,
rising public awareness of the benefits of electrification in terms of
emissions reduction, rising fuel costs, and proactive efforts on the part of
automakers to produce fuel cell electric passenger cars.
Based on fuel type, market is anticipated
to dominate by the hydrogen fuel. Because of the higher range and efficiency
provided by the hydrogen fuel to the vehicle. In the battery capacity the
market is anticipated to be dominated by the 0-100kW segment based on battery
capacity. The increased use of fuel cell electric vehicles, particularly for
everyday commutes and low running costs, is credited with this segment's rise.
New fuel cell electric vehicles are also being introduced by several automobile
manufacturer.
Some of the major players operating in the
Asia-Pacific Fuel Cell Electric Vehicle market include:
- Toyota Motor
corporation
- Hyundai Motor
Company
- Honda Motor Co.,
Ltd.
- General Motor
company
- Nissan Motor
Corporation
- Tata Motors Limited
- Mitsubishi Motors
Corporation
- Mercedes Benz AG
- Siac Motor Corporation
limited
- Zhejiang Geely
Holding Group Co., Ltd
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“With the rising focus of manufacturer in developing
fuel cell vehicles to tackle out the carbon emission and the environmental situation.
The demand of the fuel cell vehicle is increasing due to the low operation
cost, high range and high efficiency of the vehicle. Also,
government initiatives to promote the adoption of fuel cell vehicle and the introduction
of technological advancements in the vehicles will generate new opportunities
in the market." said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based global management consulting firm.
“APAC Fuel Cell Electric Vehicle Market, By Vehicle Type (Passenger car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle), By Fuel Type (Methanol , Hydrogen) , By Battery Capacity (0kWh-100kWh, 100kWh-200kWh, Above 200) and By region, Competition Forecast & Opportunities, 2018- 2028F, has evaluated the future growth potential of APAC Fuel Cell Electric Vehicle market and provides statistics & information on market size, structure, and future market growth. The report intends 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 in the APAC Fuel Cell Electric Vehicle market.
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