Global Industry Analysts Predicts the World Hydrogen Fuel Cell Vehicle Market to Reach $9.1 Billion by 2026
SAN FRANCISCO, June 23, 2022
SAN FRANCISCO , June 23, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Hydrogen Fuel Cell Vehicle - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 8; Released: January 2022
Executive Pool: 2207
Companies: 46 - Players covered include Audi AG; Ballard Power Systems, Inc.; BMW AG; Daimler AG; FuelCell Energy, Inc.; Honda Motor Co., Ltd.; Hydrogenics Corporation; Hyundai Construction Equipment Europe; MAN SE; Toyota Motor Corporation and Others.
Coverage: All major geographies and key segments
Segments: Application (Proton Exchange Membrane Fuel Cell, Phosphoric Acid Fuel Cells, Other Applications); Type (Passenger Cars, Commercial Vehicles)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Hydrogen Fuel Cell Vehicle Market to Reach $9.1 Billion by 2026
Amid the COVID-19 crisis, the global market for Hydrogen Fuel Cell Vehicle estimated at US$752.9 Million, is projected to reach a revised size of US$9.1 Billion by 2026, growing at a CAGR of 50.7% over the analysis period. Passenger Cars, one of the segments analyzed in the report, is projected to record a 53.6% CAGR and reach US$9.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Commercial Vehicles segment is readjusted to a revised 44.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $369.6 Million in 2021, While China is Forecast to Reach $1.5 Billion by 2026
The Hydrogen Fuel Cell Vehicle market in the U.S. is estimated at US$369.6 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.5 Billion by the year 2026 trailing a CAGR of 48% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 45.1% and 42.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 33.5% CAGR. More
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SOURCE Global Industry Analysts, Inc.