Report Description

Asia Pacific Fuel Cell Electric Vehicle Market is anticipated with high growth rate due to the rising concern over the environment, countries are adopting the clean energy fuel and enhancing the emission norms of vehicle. The Government is promoting through the subsidy for the adoption of fuel cell vehicles and with the high efficiency, low maintained cost and low noise, better driving experience is also driving the growth of the Fuel Cell Electric Vehicle Market.

Development in Infrastructure by Government

South Korea announced plans to construct the largest liquid hydrogen facility in the world in May. The country's chemical-focused conglomerate Hyosung Group signed a contract with Linde for a USD 244 million project to construct the plant by 2022 with a capacity of 13,000 mt/year.

Japan's prominence at the Tokyo 2020 Olympics demonstrates its dedication to hydrogen. Tokyo 2020's "Hydrogen Olympics" will see hydrogen utilized to power the Olympic Cauldron during the opening ceremony. Additionally, the Olympic Village utilizes hot water in the cafeterias, dorms, and training facilities, as well as athlete buses and vehicles that are hydrogen-fueled. During the Olympics, a total of 500 hydrogen-powered fuel cell vehicles were used. By 2030, Japan plans to build 1,000 hydrogen recharging stations for fuel-cell cars.

Developments by Manufacturer in Fuel Cell Vehicle

The Mirai sedan was unveiled by Toyota Motor Corp. globally. In March 2021, Hyundai Motor Co. has introduced its Nexo crossovers and Tucson globally.

The Clarity Fuel Cell from Honda Motor Co. Ltd. is available for leasing, while the GLC F-CELL from Daimler AG has already been delivered to a small number of business and government clients. Several Chinese manufacturers, including the state-owned SAIC Motor, have created their own buses.

Two new zero-emission buses, the F12 Hydrogen Fuel Cell Bus and the C11pure Electric Bus, were introduced in Beijing by Yuan Cheng, a subsidiary brand of Geely New Energy Commercial Vehicle Group (GCV).

Increasing Demand in Fuel Cell vehicle

There is an increasing demand for fuel cell vehicles because they produce less carbon emission, have high efficiency and low operating cost. Also, fuel cell vehicles provide a high range in travelling and produce more power than battery electric vehicles. To promote the use of hydrogen fuel cells, the government has standardized to reduce carbon emissions. Because hydrogen fuel cells produce heat and water vapor as byproducts, there is a great need for hydrogen fuel cells that don't produce any toxic gases. It has benefits to switch from gasoline to hydrogen fuel cells, and hydrogen fuel cells also perform better.

Improved Range and Efficiency Due to Technological Advances

Due to its enhanced performance, quicker refilling, and longer range, fuel cell vehicles have become more and more popular in recent years. The technique also produces lower pollutants in addition to these benefits, help in more power and torque. In addition, current catalyst innovations are essential for the development of fuel cell technology since they will increase durability through creative catalyst layer designs. Thus, the market for fuel cell electric vehicles can be expected to increase significantly because of ongoing technological developments in fuel cell technology.

Infrastructure, Price, and Safety Concern

One of the major challenges in the adoption of fuel cell vehicles is the infrastructure for charging stations and high prices of the vehicle. Many OEMS are building charging station, so the consumer has access efficient charging along their way. Also, the consumers are concerned about the charging as they are worried in between stoppage of the vehicle. Hydrogen fuel cell products have greater transportation and storage expenses than gasoline-based goods. More safety issues are associated with hydrogen because it is flammable.


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Market Segmentation

The Asia-Pacific Market is segmented by vehicle type, fuel type, battery capacity, and region. Based on vehicle type, the market is segmented into Passenger Car, Light Commercial Vehicle, and Medium & Heavy Commercial Vehicle. Based on fuel type, the market is segmented into Methanol and Hydrogen. On the basis battery capacity, the market is segmented into 0 kWh to 100 kWh, 101 kWh to 200 kWh, and above 200 kWh.

Company Profiles

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, SAIC Motor Corporation limited, and Zhejiang Geely Holding Group Co., Ltd, are the key players developing advanced technologies to stay competitive in the market and enhancing their product portfolio in the region to increase their customer outreach.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2030

Quantitative Units

Revenue in USD Billion, Volume in Units, and CAGR for 2018-2022 and 2023-2030

Report Coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         By Vehicle Type

·         By Fuel Type

·         By Battery Capacity Type

·         Region

Country Scope

China, India, Japan, South Korea, India, Thailand, Indonesia, Malaysia

Key Companies Profiled

Toyota Motor corporation, Hyundai Motor Company, Honda Motor Co., Ltd. General Motor company Nisaan Motor Corporation, Tata Motors, Mitsubhishi Motors, Mercedez Benz AG, Siac Motor and Geely

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, APAC Fuel Cell Electric Vehicle Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·          Asia Pacific Fuel Cell Electric Vehicle Market, By Vehicle Type

    • Passenger Car
    • Light Commercial Vehicle
    • Medium & Heavy Commercial Vehicle
  • Asia Pacific Fuel Cell Electric Vehicle Market, By Fuel Type:
    • Methanol
    • Hydrogen
  • Asia Pacific Fuel Cell Electric Vehicle Market, By Battery Capacity:
    • 0 kWh to 100 kWh,
    • 101 kWh to 200 kWh,
    • Above 200 kWh
  • Asia Pacific Fuel Cell Electric Vehicle Market, By Region:
      • China
      • Japan
      • South Korea
      • India
      • Thailand
      • Indonesia
      • Malaysia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Apac Fuel Cell Electric Vehicle Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information:

  • Detailed analysis and profiling of additional market players (up to five).

Asia-Pacific Fuel Cell Electric Vehicle Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary         

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on APAC Fuel Cell Electric Vehicle Market

5.    Voice of Customer

5.1.  Factors Influencing Purchase Decision

5.2.  Aided and Unaided Brand Recall

5.3.  Brand Satisfaction Level

6.    APAC Fuel Cell Electric Vehicle Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Volume

6.1.2.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle)

6.2.2.     By Fuel Type (Methanol, Hydrogen)

6.2.3.     By Battery Capacity (0 kWh to 100 kWh, 101 kWh to 200 kWh, above 200 kWh)

6.2.4.     By Region

6.2.5.     By Company (2022)

6.3.  APAC Fuel Cell Electric Vehicle Market Mapping & Opportunity

6.3.1.     Market Mapping & Opportunity by Vehicle Type

6.3.2.     Market Mapping & Opportunity by Fuel Type

6.3.3.     Market Mapping & Opportunity by Battery Capacity

6.3.4.     Market Mapping & Opportunity by Region

6.4.  Asia-Pacific: Country Analysis

6.4.1.     China Electric Vehicle Market Outlook

6.4.1.1.         Market Size & Forecast

6.4.1.1.1.             By Volume

6.4.1.1.2.             By Value

6.4.1.2.         Market Share & Forecast

6.4.1.2.1.             By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle)

6.4.1.2.2.             By Fuel Type (Methanol, Hydrogen)

6.4.1.2.3.             By Battery Capacity (0 kWh to 100 kWh, 101 kWh to 200 kWh, above 200 kWh)

6.4.2.     Japan Electric Vehicle Lighting Market Outlook

6.4.2.1.         Market Size & Forecast

6.4.2.1.1.             By Volume

6.4.2.1.2.             By Value

6.4.2.2.         Market Share & Forecast

6.4.2.2.1.             By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle)

6.4.2.2.2.             By Fuel Type (Methanol, Hydrogen)

6.4.2.2.3.             By Battery Capacity (0 kWh to 100 kWh, 101 kWh to 200 kWh, above 200 kWh)

6.4.3.     South Korea Electric Vehicle Market Outlook

6.4.3.1.         Market Size & Forecast

6.4.3.1.1.             By Volume

6.4.3.1.2.             By Value

6.4.3.2.         Market Share & Forecast

6.4.3.2.1.             By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle)

6.4.3.2.2.             By Fuel Type (Methanol, Hydrogen)

6.4.3.2.3.             By Battery Capacity (0 kWh to 100 kWh, 101 kWh to 200 kWh, above 200 kWh)

6.4.4.     India Electric Vehicle Market Outlook

6.4.4.1.         Market Size & Forecast

6.4.4.1.1.             By Volume

6.4.4.1.2.             By Value

6.4.4.2.         Market Share & Forecast

6.4.4.2.1.             By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle)

6.4.4.2.2.             By Fuel Type (Methanol, Hydrogen)

6.4.4.2.3.             By Battery Capacity (0 kWh to 100 kWh, 101 kWh to 200 kWh, above 200 kWh)

6.4.5.     Thailand Electric Vehicle Market Outlook

6.4.5.1.         Market Size & Forecast

6.4.5.1.1.             By Volume

6.4.5.1.2.             By Value

6.4.5.2.         Market Share & Forecast

6.4.5.2.1.             By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle)

6.4.5.2.2.             By Fuel Type (Methanol, Hydrogen)

6.4.5.2.3.             By Battery Capacity (0 kWh to 100 kWh, 101 kWh to 200 kWh, above 200 kWh)

6.4.6.     Indonesia Electric Vehicle Market Outlook

6.4.6.1.         Market Size & Forecast

6.4.6.1.1.             By Volume

6.4.6.1.2.             By Value

6.4.6.2.         Market Share & Forecast

6.4.6.2.1.             By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle)

6.4.6.2.2.             By Fuel Type (Methanol, Hydrogen)

6.4.6.2.3.             By Battery Capacity (0 kWh to 100 kWh, 101 kWh to 200 kWh, above 200 kWh)

6.4.7.     Malaysia Electric Vehicle Market Outlook

6.4.7.1.         Market Size & Forecast

6.4.7.1.1.             By Volume

6.4.7.1.2.             By Value

6.4.7.2.         Market Share & Forecast

6.4.7.2.1.             By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle)

6.4.7.2.2.             By Fuel Type (Methanol, Hydrogen)

6.4.7.2.3.             By Battery Capacity (0 kWh to 100 kWh, 101 kWh to 200 kWh, above 200 kWh)

7.    Market Dynamics

7.1.  Drivers

7.1.1.     Increasing Demand in Fuel Cell vehicle

7.1.2.     Developing advanced technology in Electric Vehicles

7.2.  Challenges

7.2.1.     Infrastructure, Price, and Safety Concern

8.    Market Trends and Developments

8.1.  Emerging new technologies

8.2.  Increasing global penetration of Electric Vehicles

9.    Swot Analysis

9.1.  Strengths

9.2.  Weakness

9.3.  Opportunities

9.4.  Threat

10.  Competitive Landscape

10.1.              Toyota Motor Corporation

10.1.1.  Company Details

10.1.2.  Products & Services

10.1.3.  Financial (As Reported)

10.1.4.  Key Market Focus & Geographical Presence

10.1.5.  Recent Development

10.1.6.  Key Management Personnel

10.2.              Hyundai Motor Company

10.2.1.  Company Details

10.2.2.  Products & Services

10.2.3.  Financial (As Reported)

10.2.4.  Key Market Focus & Geographical Presence

10.2.5.  Recent Development

10.2.6.  Key Management Personnel

10.3.              Honda Motor Co. Ltd

10.3.1.  Company Details

10.3.2.  Products & Services

10.3.3.  Financial (As Reported)

10.3.4.  Key Market Focus & Geographical Presence

10.3.5.  Recent Development

10.3.6.  Key Management Personnel

10.4.              General Motor Company

10.4.1.  Company Details

10.4.2.  Products & Services

10.4.3.  Financial (As Reported)

10.4.4.  Key Market Focus & Geographical Presence

10.4.5.  Recent Development

10.4.6.  Key Management Personnel

10.5.              Nissan Motor Corporation

10.5.1.  Company Details

10.5.2.  Products & Services

10.5.3.  Financial (As Reported)

10.5.4.  Key Market Focus & Geographical Presence

10.5.5.  Recent Development

10.5.6.  Key Management Personnel

10.6.              Tata Motors Limited

10.6.1.  Company Details

10.6.2.  Products & Services

10.6.3.  Financial (As Reported)

10.6.4.  Key Market Focus & Geographical Presence

10.6.5.  Recent Development

10.6.6.  Key Management Personnel

10.7.              Mitsubishi Motors Corporation

10.7.1.  Company Details

10.7.2.  Products & Services

10.7.3.  Financial (As Reported)

10.7.4.  Key Market Focus & Geographical Presence

10.7.5.  Recent Development

10.7.6.  Key Management Personnel

10.8.              Mercedes Benz AG

10.8.1.  Company Details

10.8.2.  Products & Services

10.8.3.  Financial (As Reported)

10.8.4.  Key Market Focus & Geographical Presence

10.8.5.  Recent Development

10.8.6.  Key Management Personnel

10.9.              Siac Motor Corporation limited

10.9.1.  Company Details

10.9.2.  Products & Services

10.9.3.  Financial (As Reported)

10.9.4.  Key Market Focus & Geographical Presence

10.9.5.  Recent Development

10.9.6.  Key Management Personnel

10.10.            Zhejiang Geely Holding Group Co.

10.10.1.                Company Details

10.10.2.                Products & Services

10.10.3.                Financial (As Reported)

10.10.4.                Key Market Focus & Geographical Presence

10.10.5.                Recent Development

10.10.6.                Key Management Personnel

11.  Strategic Recommendations

11.1.              Key Focus Areas

11.2.              Target Regions & Countries

11.3.              Target Type

11.4.              Target Category

12.  About Us & Disclaimer

Figures and Tables

Frequently asked questions

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Low carbon emission, Technological development in making more fuel cell, and government policies drives the APAC Fuel Cell Electric Vehicle Market.

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The market based on the vehicle type is divide into Passenger Car, Light Commercial Vehicle and Medium & Heavy Commercial Vehicle. The passenger vehicle is growing in the fuel cell market because of low operating cost.

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The major player contributing APAC Fuel Cell Electric Vehicle Market are Toyota Motor corporation, Hyundai Motor Company, Honda Motor Co., Ltd. General Motor company Nissan Motor Corporation, Tata Motors, Mitsubishi Motors, Mercedes Benz AG, Siac Motor and Geely.

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Less charging infrastructure, high price, and storage safety concern is affecting the growth of APAC Fuel Cell Electric vehicle market.

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Srishti Verma

Business Consultant
Press Release

Hydrogen Fuel to Lead Asia-Pacific Fuel Cell Electric Vehicle Market

Dec, 2022

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.