Global Market for Passenger Hydrogen Fuel Cell Vehicles, 2021

Industry Driven by Infrastructure Availability and Market Synergies

This study provides detailed data on the sales of passenger hydrogen fuel cell vehicles from their initial commercial launch through 2020. It provides market forecasts and revenue projections for the major world regions through 2036.

The study discusses automaker strategies and provides their in-depth profiles. This is one of the most comprehensive and timely studies on the passenger hydrogen fuel cell vehicles market.

With a substantial hydrogen fueling infrastructure in place, the market for hydrogen fuel cell passenger vehicles is ready for take-off, according to this research study. The study presents a bright outlook for the growth of hydrogen fuel cell cars and SUVs.

The study, Global Market for Passenger Hydrogen Fuel Cell Vehicles, said that over 27,500 hydrogen fuel cell vehicles had been sold by year-end 2020 since their sales first began. The sales were constrained by the absence of a robust hydrogen fueling infrastructure.

The sales of passenger hydrogen fuel vehicles are now poised for a rapid pickup in 2021, the study said. Over 8,500 passenger fuel cell vehicles were sold in 2020, the highest annual sales compared to any of the previous years. The 2020 sales bucked the severe downturn experienced by the auto industry during the year.

'What we are seeing now is a market push in three segments of hydrogen fuel cell market', said Naqi Jaffery, President of the publishing company. 'These segments are passenger cars and SUVs, light commercial vehicles, and heavy-duty trucks and buses', he added.

'Developments in each of these segments is creating synergies that are driving down the costs of components and infrastructure', Mr. Jaffery said. 'Coupled with this', he said, 'is the availability of extensive hydrogen fueling infrastructures in many major markets'.

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

2 Market Trends and Developments
2.1 Regional Deployment Activity
2.2 Asia-Pacific Automaker Rollouts
2.2.1 Honda
2.2.2 Hyundai Group
2.2.3 SAIC
2.2.4 Toyota
2.2.5 Other Chinese Automakers
2.2.6 APAC FCV Holdouts
2.2.7 Other APAC Automakers
2.3 European Automaker Rollouts
2.3.1 BMW
2.3.2 Jaguar Land Rover
2.3.3 Renault
2.3.4 Stellantis
2.3.5 Other Automakers
2.3.6 European FCV Holdouts
2.4 U.S. Automaker Rollouts
2.4.1 General Motors
2.4.2 Other Automakers
2.4.3 U.S. FCV Holdouts

3 Hydrogen FCVs vs. BEVs
3.1 Hydrogen FCVs Overview
3.2 Advantages of Hydrogen FCVs
3.2.1 Rapid and Standardized Fueling
3.2.2 Ability to Travel Longer Distances
3.2.3 Capability of Carrying Heavier Loads
3.3 Strengths of Battery Technology
3.4 Pros and Cons of Hydrogen FCVs
3.4.1 Pros of Hydrogen FCVs
3.4.2 Cons of Hydrogen FCVs

4 Factors Impacting Growth of FCVs
4.1 Need to Combat Climate Change
4.1.1 Greenhouse Gas Emissions
4.1.2 Paris Climate Treaty
4.2 Engagement of Governments & Global Organizations
4.2.1 Regulatory Requirements
4.2.2 Government Mandates
4.2.3 Subsidies and Incentives
4.3 Emerging Hydrogen Ecosystem
4.3.1 Technological Developments
4.3.2 Increasing Production of Hydrogen
4.3.3 Buildout of Hydrogen Fueling Stations
4.3.4 Falling Costs of FCV Ownership

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 Australia
6.2.1 Overview
6.2.2 Industry Organizations
6.2.3 Government Policies and Initiatives
6.2.4 Hydrogen FCVs Rollout
6.2.5 Assessment
6.3 China
6.3.1 Overview
6.3.2 Industry Organizations
6.3.3 Government Policies and Initiatives
6.3.4 Hydrogen FCV Rollout
6.3.5 Assessment
6.4 India
6.4.1 Overview
6.4.2 Industry Organizations
6.4.3 Government Policies and Initiatives
6.4.4 Hydrogen FCV Rollout
6.4.5 Assessment
6.5 Japan
6.5.1 Overview
6.5.2 Industry Organizations
6.5.3 Government Policies and Initiatives
6.5.4 Hydrogen FCV Rollout
6.5.5 Assessment
6.6 Malaysia
6.6.1 Overview
6.6.2 Industry Organizations
6.6.3 Government Policies and Initiatives
6.6.4 Hydrogen FCV Rollout
6.6.5 Assessment
6.7 South Korea
6.7.1 Overview
6.7.2 Industry Organizations
6.7.3 Government Policies and Initiatives
6.7.4 Hydrogen FCV Rollout
6.7.5 Assessment
6.8 Taiwan
6.8.1 Overview
6.8.2 Industry Organizations
6.8.3 Government Policies and Initiatives
6.8.4 Hydrogen FCV Rollout
6.8.5 Assessment
6.9 Others
6.9.1 New Zealand
6.9.2 Nepal
6.9.3 Singapore

7 European (Except Nordic Countries) FCV Launches
7.1 Overview
7.2 Austria
7.2.1 Overview
7.2.2 Industry Organizations
7.2.3 Government Policies and Initiatives
7.2.4 Hydrogen FCV Rollout
7.2.5 Assessment
7.3 Belgium
7.3.1 Overview
7.3.2 Industry Organizations
7.3.3 Government Policies and Initiatives
7.3.4 Hydrogen FCV Rollout
7.3.5 Assessment
7.4 Czech Republic
7.4.1 Overview
7.4.2 Industry Organizations
7.4.3 Government Policies and Initiatives
7.4.4 Hydrogen FCV Rollout
7.4.5 Assessment
7.5 Estonia
7.5.1 Overview
7.5.2 Industry Organizations
7.5.3 Government Policies and Initiatives
7.5.4 Hydrogen FCV Rollout
7.5.5 Assessment
7.6 France
7.6.1 Overview
7.6.2 Industry Organizations
7.6.3 Government Policies and Initiatives
7.6.4 Hydrogen FCV Rollout
7.6.5 Assessment
7.7 Germany
7.7.1 Overview
7.7.2 Industry Organizations
7.7.3 Government Policies and Initiatives
7.7.4 Hydrogen FCV Rollout
7.7.5 Assessment
7.8 Italy
7.8.1 Overview
7.8.2 Industry Organizations
7.8.3 Government Policies and Initiatives
7.8.4 Hydrogen Station Buildout
7.8.5 Assessment
7.9 Latvia
7.9.1 Overview
7.9.2 Industry Organizations
7.9.3 Government Policies and Initiatives
7.9.4 Hydrogen FCV Rollout
7.9.5 Assessment
7.10 The Netherlands
7.10.1 Overview
7.10.2 Industry Organizations
7.10.3 Government Policies and Initiatives
7.10.4 Hydrogen FCV Rollout
7.10.5 Assessment
7.11 Poland
7.11.1 Overview
7.11.2 Industry Organizations
7.11.3 Government Policies and Initiatives
7.11.4 Hydrogen FCV Rollout
7.11.5 Assessment
7.12 Slovenia
7.12.1 Overview
7.12.2 Industry Organizations
7.12.3 Government Policies and Initiatives
7.12.4 Hydrogen FCV Rollout
7.12.5 Assessment
7.13 Spain
7.13.1 Overview
7.13.2 Industry Organizations
7.13.3 Government Policies and Initiatives
7.13.4 Hydrogen FCV Rollout
7.13.5 Assessment
7.14 Switzerland
7.14.1 Overview
7.14.2 Industry Organizations
7.14.3 Government Policies and Initiatives
7.14.4 Hydrogen FCV Rollout
7.14.5 Assessment
7.15 The U.K.
7.15.1 Overview
7.15.2 Industry Organizations
7.15.3 Government Policies and Initiatives
7.15.4 Hydrogen FCV Rollout
7.15.5 Assessment
7.16 Other European Countries
7.16.1 Bulgaria
7.16.2 Ireland
7.16.3 Luxembourg
7.16.4 Lithuania
7.16.5 Russia
7.16.6 Slovakia

8 Nordic Region FCV Launches
8.1 Denmark
8.1.1 Overview
8.1.2 Industry Organizations
8.1.3 Government Policies and Initiatives
8.1.4 Hydrogen FCV Rollout
8.1.5 Assessment
8.2 Finland
8.2.1 Overview
8.2.2 Industry Organizations
8.2.3 Government Policies and Initiatives
8.2.4 Hydrogen FCV Rollout
8.2.5 Assessment
8.3 Iceland
8.3.1 Overview
8.3.2 Industry Organizations
8.3.3 Government Policies and Initiatives
8.3.4 Hydrogen FCV Rollout
8.3.5 Assessment
8.4 Norway
8.4.1 Overview
8.4.2 Industry Organizations
8.4.3 Government Policies and Initiatives
8.4.4 Hydrogen FCV Rollout
8.4.5 Assessment
8.5 Sweden
8.5.1 Overview
8.5.2 Industry Organizations
8.5.3 Government Policies and Initiatives
8.5.4 Hydrogen FCV Rollout
8.5.5 Assessment

9 Middle East & Africa FCV Launches
9.1 Israel
9.1.1 Overview
9.1.2 Industry Organizations
9.1.3 Government Policies & Initiatives
9.1.4 Hydrogen FCV Rollout
9.1.5 Assessment
9.2 Other Middle East Countries
9.2.1 Saudi Arabia
9.2.2 United Arab Emirates
9.2.3 Turkey
9.2.4 South Africa

10 North America FCV Launches
10.1 United States
10.1.1 Overview
10.1.2 Industry Organizations
10.1.3 Government Policies and Initiatives
10.1.4 Nationwide Hydrogen FCV Rollout
10.1.5 Emission Standards
10.2 U.S. West Coast
10.2.1 Overview
10.2.2 Industry Organizations
10.2.3 Government Policies and Initiatives
10.2.4 Hydrogen FCV Rollout
10.2.5 Assessment
10.3 East Coast
10.3.1 Overview
10.3.2 Industry Organizations
10.3.3 Government Policies and Initiatives
10.3.4 Hydrogen FCV Rollout
10.3.5 Assessment
10.4 Canada
10.4.1 Overview
10.4.3 Government Policies and Initiatives
10.4.4 Hydrogen FCV Rollout
10.4.5 Assessment

11 CALA FCV Launches
11.1 Brazil
11.1.1 Introduction
11.1.2 Industry Organizations
11.1.3 Government Policies and Initiatives
11.1.4 Hydrogen FCV Rollout
11.1.5 Assessment
11.2 Other CALA Countries
10.2.1 Costa Rica
10.2.2 Uruguay
10.2.3 Argentina

12 Automaker Profiles
12.1 BMW
12.1.1 Introduction
12.1.2 Hydrogen FCV Rollouts
12.1.3 Key Partnerships
12.1.4 Strategic Direction
12.2 Daimler
12.2.1 Introduction
12.2.2 Hydrogen FCV Rollouts
12.2.3 Key Partnerships
12.2.4 Strategic Direction
12.3 Ford
12.3.1 Introduction
12.3.2 Hydrogen FCV Rollouts
12.3.3 Key Partnerships
12.3.4 Strategic Direction
12.4 General Motors
12.4.1 Introduction
12.4.2 Hydrogen FCV Rollouts
12.4.3 Key Partnerships
12.4.4 Strategic Direction
12.5 Great Wall Motor Company Ltd.
12.5.1 Introduction
12.5.2 Hydrogen FCV Rollouts
12.5.3 Key Partnerships
13.5.4 Strategic Direction
12.6 Grove Hydrogen Automotive
12.6.1 Introduction
12.6.2 Hydrogen FCV Rollouts
12.6.3 Hydrogen FCV Pricing
12.6.4 Hydrogen FCV Sales/Leases
12.6.5 Key Partnerships
12.6.6 Strategic Direction
12.7 Honda
12.7.1 Introduction
12.7.2 Hydrogen FCV Rollouts
12.7.3 Hydrogen FCV Pricing
12.7.4 Hydrogen FCV Sales/Leases
12.7.5 Key Partnerships
12.7.6 Strategic Direction
12.8 Hyundai
12.8.1 Introduction
12.8.2 Hydrogen FCV Rollouts
12.8.3 Hydrogen FCV Pricing
12.8.4 Hydrogen FCV Sales/Leases
12.8.5 Key Partnerships
12.8.6 Strategic Direction
12.9 Jaguar Land Rover Automotive
12.9.1 Introduction
12.9.2 Hydrogen FCV Rollouts
12.9.3 Key Partnerships
12.9.4 Strategic Direction
12.10 Kia
12.10.1 Introduction
12.10.2 Hydrogen FCV Rollouts
12.10.3 Key Partnerships
12.10.4 Strategic Direction
12.11 Mahindra & Mahindra
12.11.1 Introduction
12.11.2 Hydrogen FCV Rollouts
12.11.3 Key Partnerships
12.11.4 Strategic Direction
12.12 Mazda
12.12.1 Introduction
12.12.2 Hydrogen FCV Rollouts
12.12.3 Key Partnerships
12.12.4 Strategic Direction
12.13 Mitsubishi Motors
12.13.1 Introduction
12.13.2 Hydrogen FCV Rollouts
12.13.3 Key Partnerships
12.13.4 Strategic Direction
12.14 Nissan
12.14.1 Introduction
12.14.2 Hydrogen FCV Rollouts
12.14.3 Key Partnerships
12.14.4 Strategic Direction
12.15 Pininfarina S.p.A.
12.15.1 Introduction
12.15.2 Hydrogen FCV Rollouts
12.15.3 Key Partnerships
12.15.4 Strategic Direction
12.16 Stellantis N.V.
12.16.1 Introduction
12.16.2 Hydrogen FCV Rollouts
12.16.3 Key Partnerships
12.16.4 Strategic Direction
12.17 Renault
12.17.1 Introduction
12.17.2 Hydrogen FCV Rollouts
12.17.3 Hydrogen FCV Sales/Leases
12.17.4 Hydrogen FCV Pricing
12.17.5 Key Partnerships
12.17.6 Strategic Direction
12.18 Riversimple Movement Ltd.
12.18.1 Introduction
12.18.2 Hydrogen FCV Rollouts
12.18.3 Key Partnerships
12.18.4 Strategic Direction
12.19 Ronn Motor Group
12.19.1 Introduction
12.19.2 Hydrogen FCV Rollouts
12.19.3 Key Partnerships
12.19.4 Strategic Direction
12.20 SAIC Motor
12.20.1 Introduction
12.20.2 Hydrogen FCV Rollouts
12.20.3 Hydrogen FCV Sales/Leases
12.20.4 Hydrogen FCV Pricing
12.20.5 Key Partnerships
12.20.6 Strategic Direction
12.21 Suzuki Motors
12.21.1 Introduction
12.21.2 Hydrogen FCV Rollouts
12.21.3 Key Partnerships
12.21.4 Strategic Direction
12.22 Symbio
12.22.1 Introduction
12.22.2 Hydrogen FCV Rollouts
12.22.3 Hydrogen FCV Sales
12.22.4 Hydrogen FCV Pricing
12.22.5 Key Partnerships
12.22.6 Strategic Direction
12.23 Tata Motors
12.23.1 Introduction
12.23.2 Hydrogen FCV Rollouts
12.23.3 Key Partnerships
12.23.4 Strategic Direction
12.24 Toyota
12.24.1 Introduction
12.24.2 Hydrogen FCV Rollouts
12.24.3 Hydrogen FCV Sales/Leases
12.24.4 Hydrogen FCV Pricing
12.24.5 Key Partnerships
12.24.6 Strategic Direction
12.25 Volkswagen
12.25.1 Introduction
12.25.2 Hydrogen FCV Rollouts
12.25.3 Key Partnerships
12.25.4 Strategic Direction
12.26 Others
12.26.1 Chery
12.26.2 GAC Motor
12.26.3 Hyperion
12.26.4 H2O E-mobile
12.26.5 Microcab
12.26.6 Hopium
12.26.7 Glickenhaus
12.26.8 Ineos Automotive Ltd.
12.26.9 Viritech

13 FCVs Sales/Revenue Forecast
13.1 Unit Sales/Leases
13.1.1 Factors Impacting Sales/Leases
13.1.2 Global Unit Sales/Leases Overview
13.1.3 Global Unit Sales/Leases Forecast
13.1.4 APAC Unit Sales/Leases Forecast
13.1.5 EMEA Unit Sales/Leases Forecast
13.1.6 Americas Unit Sales/Leases Forecast
13.2 Revenue Forecast
13.2.1 Pricing Overview
12.3.2 Global Revenue Forecast
13.2.3 APAC Revenue Forecast
13.2.4 EMEA Revenue Forecast
13.2.5 Americas Revenue Forecast

14 Conclusions
14.1 Market Launches
14.2 Hydrogen FCVs and BEVs
14.3 Role of Governments
14.4 FCVs Ecosystem
14.5 Next Steps

List of Tables
Table 1: Global FCV Sales/Leases by Major Region, 2014-2020
Table 2: Global FCV Sales/Leases by Automaker, 2014-2020
Table 3: Global FCV Sales/Leases by Model, 2014-2020
Table 4: APAC FCV Sales/Leases by Model, 2014-2020
Table 5: EMEA FCV Sales/Leases by Model, 2014-2020
Table 6: Americas FCV Sales/Leases by Model, 2014-2020
Table 7: Honda Clarity Fuel Cell Sales/Leases, 2014-2020
Table 8: Hyundai’s Combined FCV Sales/Leases, 2014-2020
Table 9: Hyundai Nexo Sales/Leases, 2014-2020
Table 10: Hyundai Tucson ix35 FCEV Sales/Leases, 2014-2020
Table 11: Toyota Mirai Sales/Leases, 2014-2020
Table 12: Global FCV Sales/Leases by Major Region, 2014-2035
Table 13: Global Annual FCV Sales/Leases by Major Region, 2020-2027
Table 14: Global Annual FCV Sales/Leases by Major Region, 2028-2035
Table 15: APAC Annual FCV Sales/Leases by Region/Country, 2020-2027
Table 16: APAC Annual FCV Sales/Leases by Region/Country, 2028-2035
Table 17: EMEA FCV Sales/Leases by Region/Country, 2020-2027
Table 18: EMEA FCV Sales/Leases by Region/Country, 2028-2035
Table 19: Americas FCV Sales/Leases by Region/Country, 2020-2027
Table 20: Americas FCV Sales/Leases by Region/Country, 2028-2035
Table 21: Global FCV Revenue by Major Region, 2020-2027
Table 22: Global FCV Revenue by Major Region, 2028-2035
Table 23: APAC FCV Revenue by Region/Country, 2020-2027
Table 24: APAC FCV Revenue by Region/Country, 2028-2035
Table 25: EMEA FCV Revenue by Region/Country, 2020-2027
Table 26: EMEA FCV Revenue by Region/Country, 2028-2035
Table 27: Americas FCV Revenue by Region/Country, 2020-2027
Table 28: Americas FCV Revenue by Region/Country, 2028-2035

List of Figures
Figure 1: FCV Sales/Leases by Region, 2020
Figure 2: FCV Sales/Leases by Automaker, 2020
Figure 3: Annual Global FCV Sales/Leases, 2014-2020
Figure 4: APAC FCV Sales/Leases, 2014-2020
Figure 5: EMEA FCV Sales/Leases, 2014-2020
Figure 6: Americas FCV Sales/Leases, 2014-2020
Figure 7: Global FCV Sales/Leases Share by Major Region, 2014-2020
Figure 8: Global FCV Sales/Leases Share by Major Region, 2020
Figure 9: Global FCV Sales/Leases Share by Automaker, 2014-2020
Figure 10: Global FCV Sales/Leases Share by Automaker, 2020
Figure 11: Global FCV Sales/Leases Share by Model, 2014-2020
Figure 12: Global FCV Sales/Leases Share by Model, 2020
Figure 13: APAC FCV Sales/Leases Share by Model, 2014-2020
Figure 14: APAC FCV Sales/Leases Share by Model, 2020
Figure 15: EMEA FCV Sales/Leases Share by Model, 2014-2020
Figure 16: EMEA FCV Sales/Leases Share by Model, 2020
Figure 17: Americas FCV Sales/Leases Share by Model, 2014-2020
Figure 18: Americas FCVs Sales/Leases Share by Model, 2020
Figure 19: Honda Clarity FC Sales/Leases Share by Region, 2014-2020
Figure 20: Honda Clarity FC Sales/Leases Share by Region, 2020
Figure 21: Hyundai FCV Sales/Leases Share by Region, 2014-2020
Figure 22: Hyundai FCV Sales/Leases Share by Region, 2020
Figure 23: Toyota Mirai Sales/Leases Share by Region, 2014-2020
Figure 24: Toyota Mirai Sales/Leases Share by Region, 2020
Figure 25: Global FCV Unit Sales/Leases, 2020-2035
Figure 26: CAGR of Aggregate FCVs Sales Globally, 2020-2035
Figure 27: APAC FCV Unit Sales/Leases, 2020-2035
Figure 28: CAGR of FCVs in APAC, 2020-2035
Figure 29: EMEA FCV Unit Sales/Leases, 2020-2035
Figure 30: CAGR of FCVs in APAC, 2020-2035
Figure 31: Americas FCV Unit Sales/Leases, 2020-2035
Figure 32: CAGR of FCVs in Americas, 2020-2035
Figure 33: Global FCV Sales/Leases Revenue in USD, 2020-2035
Figure 34: CAGR of FCV Sales Revenue Globally, 2020-2035
Figure 35: APAC FCV Sales/Leases Revenue in USD, 2020-2035
Figure 36: CAGR of FCV Sales Revenue in APAC, 2020-2035
Figure 37: EMEA FCV Sales/Leases Revenue in USD, 2020-2035
Figure 38: CAGR of FCV Sales Revenue in EMEA, 2020-2035
Figure 39: Americas FCV Sales/Leases Revenue in USD, 2020-2035
Figure 40: CAGR of FCV Sales Revenue in Americas, 2020-2035