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Hydrogen Vehicle Market Trends

  • Report ID: GMI6249
  • Published Date: Jul 2023
  • Report Format: PDF

Hydrogen Vehicle Business Trends

The hydrogen vehicle industry is witnessing significant investments from automakers, technology companies, and governments. Such rising investments are fueling research & development activities, influencing infrastructure expansion and scaling up hydrogen production & distribution networks.
 

The rising efforts of automakers, industry associations & government agencies to raise consumer awareness; educate the public about the benefits of hydrogen vehicles through campaigns that highlight the advantages of these vehicles; and address & build consumer confidence are contributing to market growth.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of hydrogen vehicle was valued at USD 2.8 billion in 2022 and is estimated to register a CAGR of over 28% between 2023 and 2032, owing to the growing environmental consciousness.

The passenger cars segment accounted for a market share of 66.6% in 2022, attributed to environmental concerns, infrastructure development, technological advancements, automaker commitment, government support, and pilot programs & demonstrations.

North America hydrogen vehicle market held approximately 8% of the market share in 2022, backed by the encouragement of partnerships & collaborations between government entities, industry stakeholders, and research institutions to accelerate the development & adoption of hydrogen commercial vehicles.

Toyota Motor Corporation, Hyundai Motor Company, Honda Motor Corporation, Cummins Inc., SAIC Motor Company, and Ashok Leyland.

Hydrogen Vehicle Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 239
  • Countries covered: 16
  • Pages: 300
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