Market Overview

Outlook on the Worldwide Market for Hydrogen Fuel Cell Vehicles to 2032 - Automaker Strategies and In-Depth Profiles of Key Players

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Dublin, April 03, 2020 (GLOBE NEWSWIRE) -- The "Global Market for Hydrogen Fuel Cell Vehicles" report has been added to ResearchAndMarkets.com's offering.

This is one of the most comprehensive and timely reports on the hydrogen fuel cell vehicles market. The report provides detailed data on the sales of the hydrogen fuel cell vehicles from their initial commercial launch through 2019. It provides market forecasts for the major world regions through 2032. The report discusses automaker strategies and provides in-depth profiles of the automakers producing hydrogen fuel cell vehicles or those who could potentially enter this market.

As a carrier of energy, hydrogen has emerged as a viable alternative to existing solutions for powering automobiles. However, although hydrogen will be the fuel of the future, its widespread adoption is beset with challenges, such as:

  • Cost of the FCVs
  • Cost of the infrastructure to support the FCVs

Since 2014, the world has been witnessing a slow but steady transition to hydrogen FCVs for the mass market. During 2014, when the first sales/leases of hydrogen FCVs took place, the U.S. led the field. The APAC region took the lead in sales/leases in 2015 and 2016, but Americas became the top seller in 2017 and 2018. In 2019, Nexo had a phenomenal uptake of these vehicles in South Korea, propelling APAC to the top spot.

Hydrogen FCVs have entered the commercialization phase in sixteen EMEA countries as well as in two APAC countries, South Korea and Japan, and in two countries in Americas, U.S. and Canada. These vehicles are now being introduced in China and CALA. China, in particular, will emerge as a major market for hydrogen FCVs in the next few years.

More than 18 thousand FCVs were sold/leased globally by year-end 2019. From 2020, the rollout of these vehicles is beginning to accelerate. With zero-emission capability, these vehicles represent the future of the automobile. The publisher projects that cumulatively, 6.56 million hydrogen FCVs will be sold/leased globally between 2014 and 2032.

Three major automakers, Toyota, Honda and Hyundai, are already selling these vehicles to the general public. The market will become more competitive as Mercedes-Benz starts selling its FCVs in the public domain. The vehicle is currently being provided as rental, and it is being sold to select clients.

Volkswagen and BMW are getting ready to join the FCV bandwagon with rollouts in 2021 and 2022 respectively. Rollout of vehicles from Chinese automakers, SAIC and Grove, and also imminent.

Sales/leases have been slow in the beginning primarily due to the prohibitive costs of FCVs and the absence of robust hydrogen fueling infrastructures. However, the costs of these vehicles are gradually coming down and a hydrogen fueling infrastructures are beginning to take shape. This is propelling a faster growth of these vehicles.

Current customers of these vehicles include vehicle fleets, government agencies and early adopters. Until a critical mass of customers is reached in the 2020s, the market will remain confined to early adopters and affluent segments of society.

By 2025, sufficient hydrogen fueling infrastructures will be in place in several regions of the world, giving an initial boost to the market for these vehicles. As fueling infrastructures further expand in the second half of the 2020s, hydrogen FCVs will begin to garner greater market acceptance, resulting in even faster market penetration.

The automotive industry has been making headway on two key prerequisites to market expansion of FCVs. These are:

  • Driving down FCV costs to make these vehicles more competitive with BEVs: Passenger FCVs are available in select markets, with early indications of real customer interest, and automakers are trying to price them to better compete at the premium-vehicle level.
  • Developing hydrogen infrastructures needed for fueling these vehicles: Pockets of hydrogen station clusters have emerged in several regions of the world making it feasible to adopt FCVs in those regions. As these clusters expand, the adoption of FCVs will become more attractive.

Key Topics Covered:

1 Summary and Scope

2 Hydrogen FCVs
2.1 Hydrogen FCVs vs. BEVs
2.2 Classification of Hydrogen FCVs
2.3 Pros and Cons of Hydrogen FCVs
2.3.1 Pros of Hydrogen FCVs
2.3.2 Cons of Hydrogen FCVs

3 Factors Impacting Growth of FCVs
3.1 Regulatory Requirements
3.2 Availability of Hydrogen
3.3 Single Fueling Standard
3.4 Government Support
3.5 Hydrogen Station Costs and Availability

4 FCV Launches
4.1 Market Push
4.2 Vehicle Rollouts
4.3 Upcoming Launches
4.4 Delayed or Uncertain Launches
4.5 Automakers with Hydrogen FCV Expertise
4.6 Vehicles with Range Extenders

5 Sales/Leases
5.1 Global Sales/Leases
5.1.1 Global Sales/Leases by Region
5.1.2 Global Sales/Leases by Automaker
5.1.3 Global Sales/Leases by Model
5.2 APAC Sales/Leases
5.3 EMEA Sales/Leases
5.4 Americas Sales/Leases

6 APAC FCV Launches
6.1 Overview
6.2 Japan
6.3 South Korea
6.4 China
6.5 Australia
6.6 India
6.7 Taiwan
6.8 Other APAC Countries

7 EMEA FCV Launches
7.1 Overview
7.2 Nordic Region
7.3 Germany
7.4 U.K.
7.5 France
7.6 Austria
7.7 United Arab Emirates
7.8 Rest of EMEA

8 Americas FCV Launches
8.1 U.S. Federal-Level Activity
8.1.1 Federal Government Involvement
8.1.2 Vehicle Rollouts in U.S.
8.2 U.S. State-Level Activity
8.2.1 California
8.2.2 Other States
8.3 Canada
8.4 CALA
8.4.1 Brazil
8.4.2 Other CALA Countries

9 Industry Collaboration
9.1 Overview
9.2 Global and Inter-Regional Initiatives
9.2.1 Hydrogen Council
9.2.2 IPHE
9.2.3 CEM's International Hydrogen Initiative
9.2.4 Japan, EU and U.S. Cooperation
9.2.5 International Hydrogen and Fuel Cell Association
9.3 U.S. National Initiatives
9.3.1 National Hydrogen and Fuel Cell Day
9.3.2 Fuel Cell & Hydrogen Energy Association
9.3.3 H2USA
9.3.4 Clean Energy Group
9.3.5 Renewable Hydrogen Alliance
9.3.6 U.S. DoE and DoD
9.4 Western U.S. Initiatives
9.4.1 California Fuel Cell Partnership
9.4.2 California Hydrogen Business Council
9.4.3 UC's National Fuel Cell Research Center
9.5 Eastern U.S. Initiatives
9.5.1 Connecticut Hydrogen-Fuel Cell Coalition
9.5.2 Massachusetts Hydrogen Coalition
9.5.3 NJ Fuel Cell Coalition
9.5.4 Ohio Fuel Cell Coalition (OFCC)
9.6 Canadian Initiatives
9.6.1 Canadian Hydrogen and Fuel Cell Association
9.6.2 Hydrogen Canada Strategic Research Network
9.7 EMEA Initiatives
9.7.1 European Hydrogen and Fuel Cell Association
9.7.2 EU's Clean Fuels Strategy
9.7.3 Fuel Cells and Hydrogen Joint Undertaking
9.7.4 Hydrogen Mobility Europe
9.7.5 Germany Hydrogen and Fuel Cell Association
9.7.6 UK Hydrogen and Fuel Cell Association
9.7.7 Scottish Hydrogen and Fuel Cell Association
9.7.8 Scandinavian Hydrogen Highway Partnership
9.7.9 Hydrogen South Africa
9.8 APAC Initiatives
9.8.1 Hydrogen Energy Systems Society of Japan
9.8.2 Japan H2 Mobility LLC
9.8.3 Alliance for Hydrogen Convergence
9.8.4 Hydrogen Korea
9.8.5 Korea-Australia H2 Cooperation Working Group
9.8.6 China Hydrogen Alliance
9.8.7 Australian Association for Hydrogen Energy
9.8.8 Hydrogen Association of India
9.9 Automaker Partnerships
9.9.1 Toyota and BMW
9.9.2 Volkswagen and Ballard Power Systems
9.9.3 Honda and General Motors

10 Automaker Profiles
10.1 BMW
10.2 Daimler
10.3 Fiat Chrysler Automobiles N.V.
10.4 Ford
10.5 General Motors
10.6 Grove Hydrogen Automotive
10.7 Honda
10.8 Hyundai
10.9 Kia
10.10 Mahindra & Mahindra
10.11 Mazda
10.12 Mitsubishi Motors
10.13 Nissan
10.14 Pininfarina S.p.A.
10.15 PSA Group
10.16 Renault
10.17 Riversimple Movement Ltd.
10.18 Ronn Motor Group
10.19 SAIC Motor
10.20 Suzuki Motors
10.21 Symbio
10.22 Tata Motors
10.23 Toyota
10.24 Volkswagen

11 FCVs Sales/Revenue Forecast
11.1 Unit Sales/Leases Forecast
11.1.1 Overview
11.1.2 Cumulative Global Unit Sales/Leases
11.1.3 2019 Global Unit Sales/Leases
11.1.4 APAC Unit Sales/Leases
11.1.5 EMEA Unit Sales/Leases
11.1.6 Americas Unit Sales/Leases
11.2 Revenue Forecast
11.2.1 Overview
11.2.2 Global Revenue Forecast
11.2.3 APAC Revenue Forecast
11.2.4 EMEA Revenue Forecast
11.2.5 Americas Revenue Forecast

12 Conclusions
12.1 Market Launches
12.2 Hydrogen FCVs and BEVs
12.3 Role of Governments
12.4 FCVs Ecosystem
12.5 Next Steps

For more information about this report visit https://www.researchandmarkets.com/r/yvxyqy

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