Hydrogen Vehicle Market - Top Companies and Manufacturers

In the year 2024, the industry size of hydrogen vehicle is evaluated at USD 2.03 Billion.

The hydrogen vehicle market size was over USD 1.45 Billion in 2023 and is projected to exceed USD 178.14 Billion by the end of 2036, growing at over 44.8% CAGR during the forecast period i.e., between 2024-2036. 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.

North America is anticipated to dominate majority industry share by 2036, attributed to rising initiatives taken by policymakers to cut CO2 emissions in the region by 50% by 2030 from a 2005 baseline, propelled by which a number of significant laws are made in the region.

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