Fuel Cell Electric Vehicles Market Insights | Emerging Trends & Global Demand | Forecast To 2028

The global fuel cell electric vehicles market is predicted to generate massive revenue over the upcoming years, providing numerous opportunities for industry participants to invest in research and development of fuel cell electric vehicles. Rapid surge in the demand is credited to the growing concerns over alarming pollution levels and increasing focus towards clean fuels and green technologies. Several governments across the globe are providing various incentive programs, similar to tax refunds, bursary, and subsidies to promote the use of electric vehicles. The rise in use of electric vehicles is attributed to the progress of research & development activities and various schemes embarked to enhance the current electric vehicles models for better performance and efficiency.

Growing preference for adoption of fuel cells is mainly due to the capability of generating electricity with the help of different set of fuels including hydrogen, natural gas, and biogas. Fuel cells has become vital as a back-up power unit due to numerous advantages over conventional systems, thus driving the growth.

Key Players:• Honda
• Hyundai
• Toyota
• SAIC
• Yutong
• Foton

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Reduction in manufacturing costs is further fostering the demand for fuel cell electric vehicles over the past few years. On similar lines, the limited use of platinum material further helps in cost-cutting, thus providing several electric cars. On February 2019, researchers from Johns Hopkins University, Purdue University and the University of California at Irvine have collaborated to present study based on amount of metal required for fuel cell electrodes. This methodology allows the forces on a metal surface to identify the ideal electrode thickness.

Market Segment: 

Market split by Type
• Passenger Vehicles
• Commercial Vehicles

Market split by Application
• For Lease
• For Sale

Market split by Sales Channel
• Direct Channel
• Distribution Channel

Market segment by Region/Country including:
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Spain etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
• South America Brazil, Argentina, Colombia and Chile etc.)
• Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)

Additionally, The Hyundai Motor Company, South Korean multinational automotive manufacturer is expected launch three smart electric vehicles in addition to its hydrogen fuel-cell car Nexo by 2025.

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Report contents include• Analysis of the market including revenues, future growth, market outlook
• Historical data and forecast
• Regional analysis including growth estimates
• Analyzes the end user markets including growth estimates.
• Company Profiles including products, sales/revenues, and market position
• Market structure, market drivers and restraints.