Fuel Cell Electric Vehicles Market Overview
The Fuel Cell Electric Vehicles market was valued at US$ 1344 million in 2020 and is projected to reach US$ 50250 million by 2027, at a CAGR of 76.7% during 2021-2027. In this study, 2020 has been considered as the base year and 2021 to 2027 as the forecast period to estimate the market size for Fuel Cell Electric Vehicles.
In terms of the production side, this report researches the Fuel Cell Electric Vehicles capacity, production, growth rate, market share by manufacturers and regions (or countries), from 2016 to 2020, and forecast to 2027.
In terms of the sales side, this report focuses on the sales of Fuel Cell Electric Vehicles by regions (countries), company, by Type and by Application. from 2016 to 2020 and forecast to 2027.
Fuel Cell Electric Vehicles or Fuel Cell Vehicles
is a type of vehicle that uses a fuel cell to power its on-board electric motor. Fuel cells in vehicles create electricity to power an electric motor, generally using oxygen from the air and compressed hydrogen. They are more efficient than conventional internal combustion engine vehicles and produce no harmful tailpipe exhaust—they emit water vapor and warm air.
Due to the limitation of technology and raw material cost, development of fuel cell electric vehicle was slow in the first decade in 21 Century. Recently, many automotive manufacturers start to joint together to develop the technology of fuel cell electric vehicle. So far, there are three big global car companies which can offer mass production fuel cell electric vehicle. They are Hyundai, Toyota and Honda. In 2015, the global production of fuel cell vehicle was only 1010 units In future, as the technology develops, more and more manufacturers will realize the mass production. We predict that the global production of fuel cell vehicle will reach about 384000 units in 2021. In China there are only 10 be product by SAIC in 2015. There are some of player liked Yutong, Foton in China planned to development their product. Currently, there are only Korea and Japan can mass production of fuel cell electric vehicles. In 2014, the manufacture Hyundai in Korea first mass production the fuel cell electric vehicles. Environment protecting policies all over the world will be stricter in the vehicle emissions in future. These policies will offer a promotion to the popularization of fuel cell electric vehicle, especially the developed countries. In 2021 the consumption in the USA and Europe will occupy more than 50% of the world consumption. To grab more market, companies have to expand their technology, capital investment. As the technology is grasped in a few companies, it is hard for the small and medium size companies to enter the market. It can be concluded that fuel cell electric vehicle market will be a high-concentrated in a period of time.
This industry study presents the global Fuel Cell Electric Vehicles market size, historical breakdown data (2014-2019) and forecast (2019-2025). The Fuel Cell Electric Vehicles production, revenue and market share by manufacturers, key regions and type;
The consumption of Fuel Cell Electric Vehicles in volume terms are also provided for major countries (or regions), and for each application and product at the global level. Market share, growth rate, and competitive factors are also evaluated for market leaders Honda, Hyundai, etc.
The following manufacturers are covered in this report:
- Toyota Mirai
Fuel Cell Electric Vehicles Breakdown Data by Type
- Passenger Vehicles
- Commercial Vehicles
Fuel Cell Electric Vehicles Breakdown Data by Application.
- For Public lease
- For Sales
Fuel Cell Electric Vehicles Production by Region.
- United States
- South Korea
- Other Regions
Fuel Cell Electric Vehicles Consumption by Region
- North America
- United States
- South Korea
- Rest of Europe
- Central & South America
- Rest of South America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
The study objectives are:
- To analyze and research the global Fuel Cell Electric Vehicles status and future forecast，involving, production, revenue, consumption, historical and forecast.
- To present the key Fuel Cell Electric Vehicles manufacturers, production, revenue, market share, SWOT analysis and development plans in next few years.
- To segment the breakdown data by regions, type, manufacturers and applications.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends, drivers, influence factors in global and regions.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market.
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.