Bulletin
Investor Alert

New York Markets Close in:

May 29, 2020, 9:51 a.m. EDT

Fuel Cell Electric Vehicle (FCEV) Market, Development, Key Opportunity, Application & Forecast to 2025

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

May 29, 2020 (Market Insight Reports) -- Selbyville, Delaware The report also includes several valuable information on the Fuel Cell Electric Vehicle (FCEV) market, derived from various industrial sources. The report studies the competitive environment of the Fuel Cell Electric Vehicle (FCEV) market is based on company profiles and their efforts on increasing product value and production.

Request Sample Copy of this report at: https://www.marketstudyreport.com/request-a-sample/797207/?utm_source=MarketWatch&utm_medium=RV

Rising demand for curbing carbon emission levels for improving air quality is positively influencing the fuel cell electric vehicle market share. Increasing environmental concerns pertaining to vehicle emissions are leading to the higher adoption of fuel cell electric vehicles. Shifting preference for deploying advanced technologies in heavy-duty freight trucks for delivering efficient vehicle performance will further boost the product penetration. For instance, in November 2018, Nikola Corporation launched hydrogen powered electric truck incorporating 120 kW hydrogen fuel cell offering superior fuel economy.

Increasing consumer spending and higher mobility requirements are escalating the hydrogen powered vehicles demand. Rapid urbanization coupled with proliferating construction activities are providing potential opportunities for the adoption of environment friendly vehicles. A lucrative growth in the economic conditions and high living standards are supporting the fuel cell electric vehicle market growth over the projected timeframe.

Government organizations are establishing multiple research programs and funded projects majorly focusing on the development of innovative solutions for fuel cells. Multiple organizations including the FCH JU is supporting research, technology development & demonstration activities for fuel cell and hydrogen energy technologies. Collaborative programs and initiatives are encouraging the development of efficient hydrogen production technologies, thereby contributing towards reducing the overall fuel cell production cost.

Shifting preference for utilizing zero emission vehicles owing to their commercialization and provision of government subsidies are boosting the industry size over the forecast timeframe. Increasing demand for automotive fuel cell stacks in conjunction with expansion of production facilities will further strengthen the fuel cell electric vehicles market share. Introduction of advanced fuel cell stacks for heavy duty vehicles is augmenting the product penetration. For instance, in September 2018, Ballard Power Systems launched its new FCgen-LCS liquid-cooled fuel cell stacks offering higher power density with relative lower cost of ownership.

Long haul segment will witness potential growth prospects owing to rapid deployment of fuel cell electric trucks offering emission free freight transportation. Proliferating freight volumes in conjunction with increasing greenhouse gas emissions are positively inducing the utilization of fuel cell electric trucks. Introduction of EURO VI standards for buses and deployment of electric powertrains are encouraging industry players to introduce alternative fuel vehicles for catering the increasing consumer demand.

Proliferating sales of passenger vehicles coupled with rising requirement for zero emission transport facilities are driving the segment growth over the study timeframe. Adoption of new automobiles equipped with modern technologies is augmenting the segment share. Introduction of new generation hydrogen powered SUV?s is positively influencing the FCEV market share over the study timeframe. For instance, in October 2018, Hyundai introduced 2019 NEXO fuel cell SUV incorporated with advanced fuel cell stack for delivering superior power and efficiency.

Europe fuel cell electric vehicle market will witness significant growth owing to supportive government projects for developing zero emission fuel cell vehicles and installation of hydrogen refueling stations. Projects such as Clean Hydrogen in European Cities (CHIC) and Joint Initiative for hydrogen Vehicles (JIVE) are striving for commercialization of fuel cell electric buses, further augmenting the regional demand for fuel cell electric vehicles. Easier availability of e-bikes offering ease of operation in high traffic areas is strengthening the industry size over the study timeframe.

The fuel cell electric vehicle market is highly competitive owing to the presence of major fuel cell electric vehicle manufacturers including Volkswagen, Toyota Motor Corporation, Audi AG, SAIC Motor Corporation Limited, Hyundai Motor Group and Honda Motor Co. Ltd. Major industry players are engaged in manufacturing reliable and advanced fuel cell systems including Plug Power Inc., Nuvera Fuel Cells LLC., US Hybrid, Dana Limited, Ballard Power Systems, Hydrogenics, Meritor, Inc. and Sunrise Power.

Industry participants are offering attractive deals for encouraging the utilization of fuel cell electric vehicles. Cost effective leasing facilities and rebate offers on new cars are further encouraging the adoption of fuel cell electric vehicles. Honda Motor Co. Ltd offers vehicle leasing facilities in California with no security deposits. Moreover, expansion of manufacturing facilities and distribution networks are some of the prominent strategies adopted by industry players for enhancing their market share. For instance, in December 2018, Nuvera Fuel Cells, LLC signed a cooperative agreement with Hangzhou district government of Fuyang to establish manufacturing facility for fuel cell stacks.

Full Report Summary At: https://www.marketstudyreport.com/reports/fuel-cell-electric-vehicle-market?utm_source=MarketWatch&utm_medium=RV

About Us:

Market Study Report, LLC. is a hub for market intelligence products and services.

We streamline the purchase of your market research reports and services through a single integrated platform by bringing all the major publishers and their services at one place.

Our customers partner with Market Study Report, LLC. to ease their search and evaluation of market intelligence products and services and in turn focus on their company’s core activities.

If you are looking for research reports on global or regional markets, competitive information, emerging markets and trends or just looking to stay on top of the curve then Market Study Report, LLC. is the platform that can help you in achieving any of these objectives.

Contact Us:

1 2
This Story has 0 Comments
Be the first to comment

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.