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Global Market for Hydrogen Fuel Cell Vehicles

  • ID: 5009020
  • Report
  • April 2020
  • Region: Global
  • 155 Pages
  • Information Trends
1 of 5

FEATURED COMPANIES

  • BMW
  • General Motors
  • Hyundai
  • Mazda
  • Pininfarina S.p.A.
  • Riversimple Movement Ltd.
  • MORE

This is a comprehensive study on the global market for light-duty hydrogen fuel cell vehicles, which represent the next generation of electric drive vehicles.

As a carrier of energy, hydrogen has emerged as a viable alternative to existing solutions for powering automobiles. However, although hydrogen will be the fuel of the future, its widespread adoption is beset with challenges, such as:

  • Cost of hydrogen fuel cell vehicles
  • Cost of the infrastructure to support hydrogen fuel cell vehicles

Since 2014, the world has been witnessing a slow but steady transition to hydrogen fuel cell vehicles for the mass market. In 2014, when the first sales/leases of fuel cell vehicles took place, the U.S. led the field. The Asia-Pacific region took the lead in sales/leases in 2015 and 2016, but the U.S. became the top seller in 2017 and 2018. In 2019, Nexo had a phenomenal uptake of these vehicles in South Korea, propelling Asia-Pacific to the top spot.

Hydrogen fuel cell vehicles have entered the commercialization phase in sixteen countries in Europe and Middle East as well as in two Asia-Pacific countries (South Korea and Japan) and two countries in North America (U.S. and Canada). These vehicles are now being introduced in China and Latin America. China, in particular, will emerge as a major market for hydrogen fuel cell vehicles in the next few years.

More than 18 thousand hydrogen fuel cell vehicles were sold/leased globally by year-end 2019. In 2020, the rollout of these vehicles has begun accelerating. With zero-emission capability, these vehicles represent the future of the automobile. Information Trends projects that cumulatively, 6.56 million hydrogen fuel cell vehicles will be sold/leased globally between 2014 and 2032.

Three major automakers, Toyota, Honda and Hyundai, are already selling these vehicles to the general public. The market will become more competitive as Mercedes-Benz begins selling its fuel cell vehicle in the public domain. The vehicle is currently being provided as a rental in Germany, and it is being sold to select clients.

Volkswagen and BMW are getting ready to join the hydrogen fuel cell vehicle bandwagon, with launches in 2021 and 2022, respectively. In addition, the rollout of these vehicles from Chinese automakers, SAIC and Grove, is imminent.

The sales/leases have been slow in the beginning primarily due to the prohibitive costs of fuel cell vehicles and the absence of robust hydrogen fueling infrastructures. However, the costs of these vehicles are gradually coming down, and hydrogen fueling infrastructures are beginning to take shape. This is propelling a faster growth of these vehicles.

Current customers of these vehicles include vehicle fleets, government agencies and early adopters. Until a critical mass of customers is reached in the 2020s, the market will remain confined to early adopters and affluent segments of society.

By 2025, sufficient hydrogen fueling infrastructures will be in place in several regions of the world, giving an initial boost to the market for these vehicles. As fueling infrastructures further expand in the second half of 2020s, hydrogen fuel cell vehicles will begin to garner greater market acceptance, resulting in even faster market penetration.

The automotive industry has been making headway on two key prerequisites to market expansion of fuel cell vehicles:

  • Driving down fuel cell vehicle costs to make these vehicles more competitive with battery-electric vehicles: Passenger fuel cell vehicles are available in select markets, with early indications of real customer interest, and automakers are trying to price them to better compete at the premium-vehicle level.
  • Developing hydrogen infrastructures needed for fueling these vehicles: Pockets of hydrogen station clusters have emerged in several regions of the world, making it feasible to adopt fuel cell vehicles in those regions. As these clusters expand, the purchase of hydrogen fuel cell vehicles will become more attractive.
Note: Product cover images may vary from those shown
2 of 5

FEATURED COMPANIES

  • BMW
  • General Motors
  • Hyundai
  • Mazda
  • Pininfarina S.p.A.
  • Riversimple Movement Ltd.
  • MORE

1 Summary and Scope
1.1 Executive Summary
1.2 Scope of the Study
1.3 Abbreviations

2 Hydrogen FCVs
2.1 Hydrogen FCVs vs. BEVs
2.2 Classification of Hydrogen FCVs
2.3 Pros and Cons of Hydrogen FCVs
2.3.1 Pros of Hydrogen FCVs
2.3.2 Cons of Hydrogen FCVs

3 Factors Impacting Growth of FCVs
3.1 Regulatory Requirements
3.2 Availability of Hydrogen
3.3 Single Fueling Standard
3.4 Government Support
3.5 Hydrogen Station Costs and Availability

4 FCV Launches
4.1 Market Push
4.2 Vehicle Rollouts
4.3 Upcoming Launches
4.4 Delayed or Uncertain Launches
4.5 Automakers with Hydrogen FCV Expertise
4.6 Vehicles with Range Extenders

5 Sales/Leases
5.1 Global Sales/Leases
5.1.1 Global Sales/Leases by Region
5.1.2 Global Sales/Leases by Automaker
5.1.3 Global Sales/Leases by Model
5.2 APAC Sales/Leases
5.3 EMEA Sales/Leases
5.4 Americas Sales/Leases

6 APAC FCV Launches
6.1 Overview
6.2 Japan
6.3 South Korea
6.4 China
6.5 Australia
6.6 India
6.7 Taiwan
6.8 Other APAC Countries

7 EMEA FCV Launches
7.1 Overview
7.2 Nordic Region
7.2.1 Finland
7.2.2 Iceland
7.2.3 Denmark
7.2.4 Norway
7.2.5 Sweden
7.3 Germany
7.4 U.K.
7.5 France
7.6 Austria
7.7 United Arab Emirates
7.8 Rest of EMEA

8 Americas FCV Launches
8.1 U.S. Federal-Level Activity
8.1.1 Federal Government Involvement
8.1.2 Vehicle Rollouts in U.S.
8.2 U.S. State-Level Activity
8.2.1 California
8.2.2 Other States
8.3 Canada
8.4 CALA
8.4.1 Brazil
8.4.2 Other CALA Countries

9 Industry Collaboration
9.1 Overview
9.2 Global and Inter-Regional Initiatives
9.2.1 Hydrogen Council
9.2.2 IPHE
9.2.3 CEM’s International Hydrogen Initiative
9.2.4 Japan, EU and U.S. Cooperation
9.2.5 International Hydrogen and Fuel Cell Association
9.3 U.S. National Initiatives
9.3.1 National Hydrogen and Fuel Cell Day
9.3.2 Fuel Cell & Hydrogen Energy Association
9.3.3 H2USA
9.3.4 Clean Energy Group
9.3.5 Renewable Hydrogen Alliance
9.3.6 U.S. DoE and DoD
9.4 Western U.S. Initiatives
9.4.1 California Fuel Cell Partnership
9.4.2 California Hydrogen Business Council
9.4.3 UC’s National Fuel Cell Research Center
9.5 Eastern U.S. Initiatives
9.5.1 Connecticut Hydrogen-Fuel Cell Coalition
9.5.2 Massachusetts Hydrogen Coalition
9.5.3 NJ Fuel Cell Coalition
9.5.4 Ohio Fuel Cell Coalition (OFCC)
9.6 Canadian Initiatives
9.6.1 Canadian Hydrogen and Fuel Cell Association
9.6.2 Hydrogen Canada Strategic Research Network
9.7 EMEA Initiatives
9.7.1 European Hydrogen and Fuel Cell Association
9.7.2 EU’s Clean Fuels Strategy
9.7.3 Fuel Cells and Hydrogen Joint Undertaking
9.7.4 Hydrogen Mobility Europe
9.7.5 Germany Hydrogen and Fuel Cell Association
9.7.6 UK Hydrogen and Fuel Cell Association
9.7.7 Scottish Hydrogen and Fuel Cell Association
9.7.8 Scandinavian Hydrogen Highway Partnership
9.7.9 Hydrogen South Africa
9.8 APAC Initiatives
9.8.1 Hydrogen Energy Systems Society of Japan
9.8.2 Japan H2 Mobility LLC
9.8.3 Alliance for Hydrogen Convergence
9.8.4 Hydrogen Korea
9.8.5 Korea-Australia H2 Cooperation Working Group
9.8.6 China Hydrogen Alliance
9.8.7 Australian Association for Hydrogen Energy
9.8.8 Hydrogen Association of India
9.9 Automaker Partnerships
9.9.1 Toyota and BMW
9.9.2 Volkswagen and Ballard Power Systems
9.9.3 Honda and General Motors

10 Automaker Profiles
10.1 BMW
10.1.1 Introduction
10.1.2 Hydrogen FCV Rollouts
10.1.3 Key Partnerships
10.1.4 Strategic Direction
10.2 Daimler
10.2.1 Introduction
10.2.2 Hydrogen FCV Rollouts
10.2.3 Key Partnerships
10.2.4 Strategic Direction
10.3 Fiat Chrysler Automobiles N.V.
10.3.1 Introduction
10.3.2 Hydrogen FCV Rollouts
10.3.3 Key Partnerships
10.3.4 Strategic Direction
10.4 Ford
10.4.1 Introduction
10.4.2 Hydrogen FCV Rollouts
10.4.3 Key Partnerships
10.4.4 Strategic Direction
10.5 General Motors
10.5.1 Introduction
10.5.2 Hydrogen FCV Rollouts
10.5.3 Key Partnerships
10.5.4 Strategic Direction
10.6 Grove Hydrogen Automotive
10.6.1 Introduction
10.6.2 Hydrogen FCV Rollouts
10.6.3 Hydrogen FCV Pricing
10.6.4 Hydrogen FCV Sales/Leases
10.6.5 Key Partnerships
10.6.6 Strategic Direction
10.7 Honda
10.7.1 Introduction
10.7.2 Hydrogen FCV Rollouts
10.7.3 Hydrogen FCV Pricing
10.7.4 Hydrogen FCV Sales/Leases
10.7.5 Key Partnerships
10.7.6 Strategic Direction
10.8 Hyundai
10.8.1 Introduction
10.8.2 Hydrogen FCV Rollouts
10.8.3 Hydrogen FCV Pricing
10.8.4 Hydrogen FCV Sales/Leases
10.8.5 Key Partnerships
10.8.6 Strategic Direction
10.9 Kia
10.9.1 Introduction
10.9.2 Hydrogen FCV Rollouts
10.9.3 Key Partnerships
10.9.4 Strategic Direction
10.10 Mahindra & Mahindra
10.10.1 Introduction
10.10.2 Hydrogen FCV Rollouts
10.10.3 Key Partnerships
10.10.4 Strategic Direction
10.11 Mazda
10.11.1 Introduction
10.11.2 Hydrogen FCV Rollouts
10.11.3 Key Partnerships
10.11.4 Strategic Direction
10.12 Mitsubishi Motors
10.12.1 Introduction
10.12.2 Hydrogen FCV Rollouts
10.12.3 Key Partnerships
10.12.4 Strategic Direction
10.13 Nissan
10.13.1 Introduction
10.13.2 Hydrogen FCV Rollouts
10.13.3 Key Partnerships
10.13.4 Strategic Direction
10.14 Pininfarina S.p.A.
10.14.1 Introduction
10.14.2 Hydrogen FCV Rollouts
10.14.3 Key Partnerships
10.14.4 Strategic Direction
10.15 PSA Group
10.15.1 Introduction
10.15.2 Hydrogen FCV Rollouts
10.15.3 Key Partnerships
10.15.4 Strategic Direction
10.16 Renault
10.16.1 Introduction
10.16.2 Hydrogen FCV Rollouts
10.16.3 Hydrogen FCV Sales/Leases
10.16.4 Hydrogen FCV Pricing
10.16.5 Key Partnerships
10.16.6 Strategic Direction
10.17 Riversimple Movement Ltd.
10.17.1 Introduction
10.17.2 Hydrogen FCV Rollouts
10.17.3 Key Partnerships
10.17.4 Strategic Direction
10.18 Ronn Motor Group
10.18.1 Introduction
10.18.2 Hydrogen FCV Rollouts
10.18.3 Key Partnerships
10.18.4 Strategic Direction
10.19 SAIC Motor
10.19.1 Introduction
10.19.2 Hydrogen FCV Rollouts
10.19.3 Hydrogen FCV Sales/Leases
10.19.4 Hydrogen FCV Pricing
10.19.5 Key Partnerships
10.19.6 Strategic Direction
10.20 Suzuki Motors
10.20.1 Introduction
10.20.2 Hydrogen FCV Rollouts
10.20.3 Key Partnerships
10.20.4 Strategic Direction
10.21 Symbio
10.21.1 Introduction
10.21.2 Hydrogen FCV Rollouts
10.21.3 Hydrogen FCV Sales
10.21.4 Hydrogen FCV Pricing
10.21.5 Key Partnerships
10.21.6 Strategic Direction
10.22 Tata Motors
10.22.1 Introduction
10.22.2 Hydrogen FCV Rollouts
10.22.3 Key Partnerships
10.22.4 Strategic Direction
10.23 Toyota
10.23.1 Introduction
10.23.2 Hydrogen FCV Rollouts
10.23.3 Hydrogen FCV Sales/Leases
10.23.4 Hydrogen FCV Pricing
10.23.5 Key Partnerships
10.23.6 Strategic Direction
10.24 Volkswagen
10.24.1 Introduction
10.24.2 Hydrogen FCV Rollouts
10.24.3 Key Partnerships
10.24.4 Strategic Direction

11 FCVs Sales/Revenue Forecast
11.1 Unit Sales/Leases Forecast
11.1.1 Overview
11.1.2 Cumulative Global Unit Sales/Leases
11.1.3 2019 Global Unit Sales/Leases
11.1.4 APAC Unit Sales/Leases
11.1.5 EMEA Unit Sales/Leases
11.1.6 Americas Unit Sales/Leases
11.2 Revenue Forecast
11.2.1 Overview
11.2.2 Global Revenue Forecast
11.2.3 APAC Revenue Forecast
11.2.4 EMEA Revenue Forecast
11.2.5 Americas Revenue Forecast

12 Conclusions
12.1 Market Launches
12.2 Hydrogen FCVs and BEVs
12.3 Role of Governments
12.4 FCVs Ecosystem
12.5 Next Steps

Tables
Table 1: Global FCV Sales/Leases by Major Region, 2014-2019
Table 2: Global FCV Sales/Leases by Automaker, 2014-2019
Table 3: Global FCV Sales/Leases by Model, 2014-2019
Table 4: APAC FCV Sales/Leases by Model, 2014-2019
Table 5: EMEA FCV Sales/Leases by Model, 2014-2019
Table 6: Americas FCV Sales/Leases by Model, 2014-2019
Table 7: Honda Clarity Fuel Cell Sales/Leases, 2014-2019
Table 8: Hyundai’s Combined FCV Sales/Leases, 2014-2019
Table 9: Hyundai Nexo Sales/Leases, 2014-2019
Table 10: Hyundai Tucson ix35 FCEV Sales/Leases, 2014-2019
Table 11: Toyota Mirai Sales/Leases, 2014-2019
Table 12: Global FCV Sales/Leases by Major Region, 2014-2032
Table 13: Global FCV Sales/Leases by Major Region, 2019-2025
Table 14: Global FCV Sales/Leases by Major Region, 2026-2032
Table 15: APAC FCV Sales/Leases by Region/Country, 2019-2025
Table 16: APAC FCV Sales/Leases by Region/Country, 2026-2032
Table 17: EMEA FCV Sales/Leases by Region/Country, 2019-2025
Table 18: EMEA FCV Sales/Leases by Region/Country, 2026-2032
Table 19: Americas FCV Sales/Leases by Region/Country, 2019-2025
Table 20: Americas FCV Sales/Leases by Region/Country, 2026-2032
Table 21: Global FCV Revenue by Major Region, 2019-2025
Table 22: Global FCV Revenue by Major Region, 2026-2032
Table 23: APAC FCV Revenue by Region/Country, 2019-2025
Table 24: APAC FCV Revenue by Region/Country, 2026-2032
Table 25: EMEA FCV Revenue by Region/Country, 2025-2026
Table 26: EMEA FCV Revenue by Region/Country, 2026-2032
Table 27: Americas FCV Revenue by Region/Country, 2019-2025
Table 28: Americas FCV Revenue by Region/Country, 2026-2032

Figures
Figure 1: Global FCV Sales/Leases Share by Major Region, 2014-2019
Figure 2: Global FCV Sales/Leases Share by Major Region, 2019
Figure 3: Global FCV Sales/Leases Share by Automaker, 2014-2019
Figure 4: Global FCV Sales/Leases Share by Automaker, 2019
Figure 5: Global FCV Sales/Leases Share by Model, 2014-2019
Figure 6: Global FCV Sales/Leases Share by Model, 2019
Figure 7: APAC FCV Sales/Leases Share by Model, 2014-2019
Figure 8: APAC FCV Sales/Leases Share by Model, 2019
Figure 9: EMEA FCV Sales/Leases Share by Model, 2014-2019
Figure 10: EMEA FCV Sales/Leases Share by Model, 2019
Figure 11: Americas FCV Sales/Leases Share by Model, 2014-2019
Figure 12: Americas FCVs Sales/Leases Share by Model, 2019
Figure 13: Honda Clarity FC Sales/Leases Share by Region, 2014-2019
Figure 14: Honda Clarity FC Sales/Leases Share by Region, 2019
Figure 15: Hyundai FCV Sales/Leases Share by Region, 2014-2019
Figure 16: Hyundai FCV Sales/Leases Share by Region, 2019
Figure 17: Toyota Mirai Sales/Leases Share by Region, 2014-2019
Figure 18: Toyota Mirai Sales/Leases Share by Region, 2019
Figure 19: Global FCV Unit Sales/Leases, 2019-2032
Figure 20: CAGR of FCVs Globally, 2019-2032
Figure 21: APAC FCV Unit Sales/Leases, 2019-2032
Figure 22: CAGR of FCVs in APAC, 2019-2032
Figure 23: EMEA FCV Unit Sales/Leases, 2019-2032
Figure 24: CAGR of FCVs in APAC, 2019-2032
Figure 25: Americas FCV Unit Sales/Leases, 2019-2032
Figure 26: CAGR of FCVs in Americas, 2019-2032
Figure 27: Global FCV Sales/Leases Revenue, 2019-2032
Figure 28: CAGR of FCV Sales Revenue Globally, 2019-2032
Figure 29: APAC FCV Sales/Leases Revenue, 2019-2032
Figure 30: CAGR of FCV Sales Revenue in APAC, 2019-2032
Figure 31: EMEA FCV Sales/Leases Revenue, 2019-2032
Figure 32: CAGR of FCV Sales Revenue in EMEA, 2019-2032
Figure 33: Americas FCV Sales/Leases Revenue, 2019-2032
Figure 34: CAGR of FCV Sales Revenue in Americas, 2019-2032

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • BMW
  • General Motors
  • Hyundai
  • Mazda
  • Pininfarina S.p.A.
  • Riversimple Movement Ltd.
  • MORE

This is one of the most comprehensive and timely reports on the hydrogen fuel cell vehicles market. The report provides detailed data on the sales of the hydrogen fuel cell vehicles from their initial commercial launch through 2019. It provides market forecasts for the major world regions through 2032. The report discusses automaker strategies and provides in-depth profiles of the automakers producing hydrogen fuel cell vehicles or those who could potentially enter this market.

Note: Product cover images may vary from those shown
5 of 5
  • BMW
  • Daimler
  • Fiat Chrysler Automobiles N.V.
  • Ford
  • General Motors
  • Grove Hydrogen Automotive
  • Honda
  • Hyundai
  • Kia
  • Mahindra & Mahindra
  • Mazda
  • Mitsubishi Motors
  • Nissan
  • Pininfarina S.p.A.
  • PSA Group
  • Renault
  • Riversimple Movement Ltd.
  • Ronn Motor Group
  • SAIC Motor
  • Suzuki Motors
  • Symbio
  • Tata Motors
  • Toyota
  • Volkswagen
Note: Product cover images may vary from those shown
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