Because of its potential to reduce greenhouse gas emissions in the transportation sector as well as air pollutant emissions, hydrogen has been proposed as a future transportation fuel for zero emission vehicles. As a result, hydrogen fuel cells are being developed to provide future mobility. Although a hydrogen fuel cell vehicle produces no carbon or air pollutants at the tailpipe, there may be “upstream” emissions from the production of hydrogen.
According to recent research, a variety of vehicles powered by hydrogen fuel cells could play a significant role in the future light-duty vehicle fleet. Launching an automotive hydrogen fuel cell involves overcoming a slew of difficult economic and logistical hurdles, implying that policy can help.
Despite progress, the costs of automotive hydrogen fuel cell vehicles remain high, consumer adoption and market growth are uncertain, and the construction of new hydrogen infrastructure will be costly and risky. Following that, the study’s goal is to examine the global automotive hydrogen fuel cell market’s most recent trends, dynamics, and potential strategies.
Dynamics of the Global Automotive Hydrogen Fuel Cell Market
In 2013, automotive hydrogen fuel cell vehicles were first commercially introduced in Japan, Europe, and the United States (particularly California). Hyundai, Toyota, and Honda are among the major automakers that have entered the hydrogen fuel cell market. FCVs (automotive hydrogen duel cell vehicles) will be commercialised within the next few years, according to Nissan, GM, and Daimler. The automotive hydrogen fuel cell is also being demonstrated in fleet vehicles such as transit buses (of which there are currently a few dozen in service, with hundreds more planned in the coming years) and trucks.
Automotive hydrogen fuel cell markets are rapidly expanding, more than doubling in 2016. Despite the fact that current automotive hydrogen fuel cell vehicles are expensive, the automotive hydrogen fuel cell market is still growing. Furthermore, the prevalence of conventional or gasoline/diesel-powered buses is limiting the growth of the high-cost automotive hydrogen fuel cell market. Today, automotive hydrogen fuel cell buses have a compelling business case, a lower total cost of ownership, and fuel cost parity with diesel buses when compared to other low and zero-emission options.
Regional Forecasts for the Automotive Hydrogen Fuel Cell Market
Because of significant investments and initiatives, North America and China are currently leading the automotive hydrogen fuel cell market. Furthermore, Europe and other Southeast Asian countries will likely emerge as lucrative markets for automotive hydrogen fuel cells in the long run.
To summarise, investments will be critical to the rapid growth of the automotive hydrogen fuel cell market. Although automotive hydrogen fueled buses and trucks are being demonstrated in North America and Europe, the focus has been on automotive hydrogen fuel cell light duty vehicles. In Europe, there is a lot of interest in “power to gas” concepts.
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