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Hydrogen Vehicle Market Size & Share, by Vehicle Type (Commercial, Passenger); Technology (Proton Exchange Membrane (PEM) Fuel Cells, Phosphoric Acid Fuel Cells, Alkaline Fuel Cells, Solid Oxide Fuel Cells) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3617
  • Published Date: Apr 01, 2023
  • Report Format: PDF, PPT

Companies Dominating the Hydrogen Vehicle Landscape

top-features-companies
    • Ballard Power System Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Toyota Motor Corporation
    • Mercedes-Benz Group AG
    • Hyundai Motor Company
    • Hydrogenics, Bayerische Motoren Werke AG
    • Cummins Inc.
    • General Motors Company
    • Power System PLC
    • Horizon Fuel Cell Technologies
Browse Key Market Insights with Data Illustration:

In the News

  • Ballard Power Systems a developer and manufacturer of proton exchange membrane fuel cell products received a purchase order for 15 70-kilowatt FCmoveTM-HD fuel cell modules from Tata Motors Limited.

  • Mercedes-Benz Group AG a revolutionizer in automobile production with Linde will jointly develop liquid-hydrogen refueling technology for hydrogen-powered vehicles.


Author Credits:  Payel Roy, Dhruv Bhatia


  • Report ID: 3617
  • Published Date: Apr 01, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The rising awareness among the masses about environmental degradation, as well as the increasing government initiatives of several countries to develop hydrogen fuel cell infrastructure besides the promotion of the use of hydrogen FCVs to reduce greenhouse gas emissions, is contributing to the growth of the market.

The market is anticipated to attain a CAGR of ~45% over the projected period, i.e., 2023-2035.

High cost of fuel as well as the lack of infrastructure is estimated to be the growth hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Ballard Power System Inc., Toyota Motor Corporation, Mercedes-Benz Group AG, Hyundai Motor Company, Hydrogenics, Bayerische Motoren Werke AG, Cummins Inc., General Motors Company, Power System PLC, Horizon Fuel Cell Technologies, and others.

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.

The market is segmented by vehicle type, technology, and by region.

The passenger segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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