Global Hydrogen Fuel Cell Vehicle Market By Vehicle Type (Passenger Cars and Commercial Vehicles), By Power Output (250 kW), By Region, Competition, Forecast & Opportunities, 2026

The Global Hydrogen Fuel Cell Vehicle Market is expected to grow at an impressive rate during the forecast period. The Global Hydrogen Fuel Cell Vehicle Market is driven by the growing environmental concerns due to increasing air pollution and climate change. The hydrogen fuel cell vehicles are helpful in reducing the emissions since they do not produce greenhouse gases. This in turn is expected to positively impact the market growth through 2026. Besides, hydrogen fuel cell vehicles are low maintenance vehicles which function silently without creating a lot of noise. Additionally, supportive government policies, schemes and grants to promote cleaner technologies is further anticipated to propel the market during the forecast period. However, high initial investment is required to develop the hydrogen fuel cell vehicle infrastructure which can hamper the market growth over the next few years. Additionally, lack of awareness about these vehicles and presence of a smaller number of manufacturers in the market further restrict the market growth.

The Global Hydrogen Fuel Cell Vehicle Market is segmented based on vehicle type, power output, company and region. Based on the vehicle type, the market has been categorized into passenger cars and commercial vehicles. The passenger cars segment is expected to dominate the market during the forecast period. this can be ascribed to the associated benefits such as ease in parking, improved gas mileage and affordability.

Regionally, the Global Hydrogen Fuel Cell Vehicle Market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. North America is expected to dominate the overall hydrogen fuel cell vehicle market owing to the increasing awareness among the population towards environmental protection and sustainability. Additionally, supportive government schemes & policies are further supporting the market growth in the region.

The major players operating in the Global Hydrogen Fuel Cell Vehicle Market are Honda Motor Company, Ltd., Toyota Motor Corporation, Hyundai Motor Company, Daimler, Audi, BMW, Volvo, Ballard Power Systems, General Motors, Kia Motor Corporation, MAN, Groupe Renault, Tata Motors Limited, Hydrogenics, Mazda Motor Corporation and others. Major companies are developing advanced technologies and launching new services in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.

Years considered for this report:

• Historical Years: 2016-2019
• Base Year: 2020
• Estimated Year: 2021
• Forecast Period: 2022-2026

Objective of the Study:

• To analyze and estimate the market size of the Global Hydrogen Fuel Cell Vehicle Market from 2016 to 2019.
• To estimate and forecast the market size of the Global Hydrogen Fuel Cell Vehicle Market from 2020 to 2026 and growth rate until 2026.
• To classify and forecast the Global Hydrogen Fuel Cell Vehicle Market based on vehicle type, power output, company and regional distribution.
• To identify dominant region or segment in the Global Hydrogen Fuel Cell Vehicle Market.
• To identify drivers and challenges for the Global Hydrogen Fuel Cell Vehicle Market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Hydrogen Fuel Cell Vehicle Market.
• To identify and analyze the profile of leading players operating in the Global Hydrogen Fuel Cell Vehicle Market.
• To identify key sustainable strategies adopted by market players in the Global Hydrogen Fuel Cell Vehicle Market.

The publisher performed both primary as well as exhaustive secondary research for this study. Initially, the publisher sourced a list of manufacturers across the globe. Subsequently, the publisher conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the publisher could include the manufacturers which could not be identified due to the limitations of secondary research. The publisher analyzed the manufacturers, distribution channels and presence of all major players across the globe.

The publisher calculated the market size of the Global Hydrogen Fuel Cell Vehicle Market by using a bottom-up approach, wherein the data for various end-user segments was recorded and forecast for the future years. The publisher sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.

Key Target Audience:

• Hydrogen fuel cell vehicle manufacturers/suppliers/distributors
• Market research and consulting firms
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to hydrogen fuel cell vehicle

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.

Report Scope:

In this report, the Global Hydrogen Fuel Cell Vehicle Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Global Hydrogen Fuel Cell Vehicle Market, By Vehicle Type:

• Passenger Cars
• Commercial Vehicles

Global Hydrogen Fuel Cell Vehicle Market, By Power Output:

• < 150 kW
• 150-250 kW
• >250 kW

Global Hydrogen Fuel Cell Vehicle Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Kuwait
• South America
• Brazil
• Argentina
• Colombia

Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Hydrogen Fuel Cell Vehicle Market.

Available Customizations:
With the given market data, the publisher offers customizations according to a client’s specific needs.