Hydrogen Vehicle Market

Hydrogen Vehicle Market Segmentation by Vehicle Type (Commercial, Passenger, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Report ID: 3617 | Published On: Apr 18, 2022
  1. Introduction
    • Market Definition
    • Market Segmentation
    • Product Overview
  2. Assumptions and Acronyms
  3. Research Methodology
  4. Research Process
    • Primary Research
    • Manufacturers
    • Distributors
    • End Users
    • Secondary Research
    • Market Size Estimation
  5. Executive Summary - Global Advanced Therapy Medicinal Products Market
  6. Analysis of Market Dynamics
  7. Drivers
  8. Trends
  9. Key Market Opportunities for Business Growth
  10. Major Roadblocks for the Market Growth
  11. Regulatory & Standard Landscape
  12. Value Chain Analysis
  13. Potential ATMP Treatment Analysis
  14. Pricing Analysis of Global Advanced Therapy Medicinal Products Market
  15. Use Case Analysis
  16. Pipeline Analysis
  17. Analysis on the Manufacturing Process
  18. Analysis of COVID-19 Impact on the Global Advanced Therapy Medicinal Products Market
  19. Analysis of End-User Market Share of Global Advanced Therapy Medicinal Products
  20. Competitive Positioning
  21. Competitive Landscape
  22. Market Share Analysis of Major Players (%), 2021
  23. Competitive Benchmarking
  24. Novartis AG.
  25. Takeda Pharmaceutical Company Limited
  26. Gilead Sciences, Inc.
  27. Bluebird Bio, Inc
  28. BioMarin Pharmaceutical Inc
  29. Vericel Corporation
  30. Mallinckrodt Pharmaceuticals
  31. UniQure N.V.
  32. JCR Pharmaceuticals Co., Ltd.
  33. Spark Therapeutics, Inc. (Parent Company: Roche)
  34. Kolon TissueGene, Inc.
  35. Global Advanced Therapy Medicinal Products Market Outlook
  36. By Value (USD million)
  37. By Product
  38. CAR-T Therapy, 2021-2031F (USD million)
  39. Gene Therapy, 2021-2031F (USD million)
  40. Cell Therapy, 2021-2031F (USD million)
  41. Tissue Engineered Product, 2021-2031F (USD million)
  42. By Disease
  43. Oncology, 2021-2031F (USD million)
  44. Genetic Disorders, 2021-2031F (USD million)
  45. CNS, 2021-2031F (USD million)
  46. Dermatology, 2021-2031F (USD million)
  47. Others, 2021-2031F (USD million)
  48. By End-User
  49. Hospitals & Clinics, 2021-2031F (USD million)
  50. Research & Academic Institutes, 2021-2031F (USD million)
  51. Global Advanced Therapy Medicinal Products Market by Region
  52. North America, 2021-2031F (USD million)
  53. Europe, 2021-2031F (USD million)
  54. Asia-Pacific, 2021-2031F (USD million)
  55. Latin America, 2021-2031F (USD million)
  56. Middle East & Africa, 2021-2031F (USD million)
  57. North America Advanced Therapy Medicinal Products Market Outlook
  58. By Value (USD million)
  59. By Product
  60. CAR-T Therapy, 2021-2031F (USD million
  61. Gene Therapy, 2021-2031F (USD million)
  62. Cell Therapy, 2021-2031F (USD million)
  63. Tissue Engineered Product, 2021-2031F (USD million)
  64. By Disease
  65. Oncology, 2021-2031F (USD million)
  66. Genetic Disorders, 2021-2031F (USD million)
  67. CNS, 2021-2031F (USD million)
  68. Dermatology, 2021-2031F (USD million)
  69. Others, 2021-2031F (USD million)
  70. By End-User
  71. Hospitals & Clinics, 2021-2031F (USD million)
  72. Research & Academic Institutes, 2021-2031F (USD million)
  73. By Country
  74. US, 2021-2031F (USD million)
  75. Canada, 2021-2031F (USD million)
  76. Europe Advanced Therapy Medicinal Products Market Outlook
  77. By Product
  78. By Disease
  79. By End User
  80. By Country
  81. UK, 2021-2031F (USD Million)
  82. Germany, 2021-2031F (USD Million)
  83. France, 2021-2031F (USD Million)
  84. Italy, 2021-2031F (USD Million)
  85. Spain, 2021-2031F (USD Million)
  86. Russia, 2021-2031F (USD Million)
  87. Netherlands, 2021-2031F (USD Million)
  88. Rest of Europe, 2021-2031F (USD Million)
  89. Asia Pacific Advanced Therapy Medicinal Products Market Outlook
  90. By Product
  91. By Disease
  92. By End User
  93. By Country
  94. China, 2021-2031F (USD Million)
  95. India, 2021-2031F (USD Million)
  96. Japan, 2021-2031F (USD Million)
  97. South Korea, 2021-2031F (USD Million)
  98. Singapore, 2021-2031F (USD Million)
  99. Australia, 2021-2031F (USD Million)
  100. Rest of Asia-Pacific, 2021-2031F (USD Million)
  101. Latin America Advanced Therapy Medicinal Products Market Outlook
  102. By Product
  103. By Disease
  104. By End User
  105. By Country
  106. Brazil, 2021-2031F (USD Million)
  107. Argentina, 2021-2031F (USD Million)
  108. Mexico, 2021-2031F (USD Million)
  109. Rest of Latin America, 2021-2031F (USD Million)
  110. Middle East & Africa Advanced Therapy Medicinal Products Market Outlook
  111. By Product
  112. By Disease
  113. By End User
  114. By Country
  115. GCC, 2021-2031F (USD Million)
  116. Israel, 2021-2031F (USD Million)
  117. South Africa, 2021-2031F (USD Million)
  118. Rest of Middle East & Africa, 2021-2031F (USD Million)

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • July, 2021: Ballard Power Systems announced the receiving of a purchase order from Tata Motors Limited for 15 70-kilowatt FCmoveTM-HD fuel cell modules.

  • December, 2020: Daimler AG signed an agreement with Linde to jointly develop liquid-hydrogen refueling technology for hydrogen-powered vehicles.


Global Hydrogen Vehicle Market Highlights over 2022 – 2030

The global hydrogen vehicle market is estimated to grow at a significant CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing research activities for the development of hydrogen as a fuel, along with growing adoption of clean fuel vehicles. Hydrogen is already being extensively used to power spacecrafts and aircrafts. The increasing development activities to use hydrogen in cars and other commercial vehicles is estimated to boost the market growth. According to the data by International Energy Agency, in 2020, hydrogen demand touched 90 Mt globally.

Hydrogen Vehicle Market

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The increasing demand for fuel-efficient and low-emission vehicles is foreseen to strengthen the demand for hydrogen vehicles. The growing awareness regarding vehicular pollution is projected to further drive the market growth. As per a report by the UN Environment Program (UNEP), vehicle emissions are responsible for major share of fine particulate matter (PM2.5) and nitrogen oxides (NOx) in the atmosphere. According to the data the World Health Organization (WHO), over 7 million deaths are caused each year due to air pollution, as 99% of the global pollution breaths unhealthy air.

Moreover, hydrogen fuel cell vehicles are already present in various regional markets, and their demand is increasing gradually, which is expected to positively influence the market growth. Furthermore, the advantages of hydrogen vehicles, such as fast refueling time, long driving range on a single tank, and low carbon emission, is estimated to boost the market growth.

The market is segmented by vehicle type into commercial, passenger, and others, out of which, the passenger segment is anticipated to hold the modest share in the global hydrogen vehicle market over the forecast period on account of growing adoption of low-emission vehicles. The increasing production of hydrogen vehicles, is estimated to propel the segment growth. 


Major Macro-Economic Indicators Impacting the Market Growth

Electricity Consumption

In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.


Global Hydrogen Vehicle Market Regional Synopsis

On the basis of geographical analysis, the global hydrogen vehicle market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the presence of major automotive companies, which are investing in the development of hydrogen technology.

The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing adoption of low-emission vehicles in countries, such as, China and Japan. Moreover, China has the highest number of electric vehicles, as the government of the country constantly takes initiatives to curb pollution. 

Hydrogen Vehicle Market

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The global hydrogen vehicle market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook


Hydrogen Vehicle Market
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Market Segmentation

Our in-depth analysis of the global hydrogen vehicle market includes the following segments:

By Vehicle Type

  • Commercial
  • Passenger
  • Others


Growth Drivers
  • Growing Adoption of Hydrogen Fuel
  • Increasing Investment in R&D Activities for Hydrogen Technology

Challenges

  • Production of Hydrogen from Methane
  • High Competition from Hydrogen Fuel Cell Vehicles


Electricity Consumption
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Top Featured Companies Dominating the Market

    Ballard Power System, Toyota Motor Corporation, Daimler AG, and Hyundai Motor Company are some of the major key players of the hydrogen vehicle market. GM Hydrogenics is one of the major manufacturers of hydrogen fuel cells, while automotive manufacturers, such as, BMW AG, are estimated to enter the market in the upcoming years.


Key Questions Answered in the Report

1) What are the major factors driving the growth of the hydrogen vehicle market?

Ans: The growing demand for clean fuel, and adoption of hydrogen as fuel are estimated to boost the market growth.

2) What would be the CAGR of hydrogen vehicle market over the forecast period?

Ans: The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2022 – 2030.

3) What are the challenges affecting the hydrogen vehicle market growth?

Ans: High competition from hydrogen fuel cell technology is estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of hydrogen vehicle market in future?

Ans: The market in the North America region will provide more business opportunities over the forecast period, owing to the growing environmental awareness amongst the population in the region.

5) Who are the major players dominating the hydrogen vehicle market?

Ans: The major players in the market are Ballard Power System, Toyota Motor Corporation, Daimler AG, and Hyundai Motor Company.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the hydrogen vehicle market?

Ans: The market is segmented by vehicle type, and by region.

8) Which segment captures the largest market size in vehicle type segment in the hydrogen vehicle market?

Ans: The passenger segment is anticipated to hold notable market size over the forecast period and display significant growth opportunities.

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