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Fuel Cell Vehicle Market- What are the main factors that contributing towards industry growth?

Author : Ronak Bora | Published Date : 2019-04-02 

Global Market Insights, Inc. has added a new report on Fuel Cell Vehicle Market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of market in tandem with its competitive terrain.

Global fuel cell vehicle market is segmented into forklifts, buses, bicycles and motorcycles, boats, submarines, trams and airplanes. The buses segment is likely to account for highest industry share followed by bicycles and motorcycles. Forklifts and airplanes are likely to gain significant growth over the forecast period.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

  • Nissan
  • Toyota Motor
  • BMW
  • Audi
  • Daimler
  • Riversimple UK
  • GreenGT
  • Ballard
  • Hyundai Korea
  • Proton Power Systems
  • Hydrogenics
  • GreenGT Belgium
  • VW Group
  • Cellkraft
  • Acumentrics SOFC
  • Altergy Systems
  • Ballard Power Systems
  • Ceramic Fuel Cells
  • BIC Consumer Products
  • Automotive Fuel Cell Cooperation

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Fuel cell technology has the efficiency to power airport tugs, forklifts, heavy duty vehicles and passenger vehicles. The technology is likely to gain importance owing to its rapid advancement. In addition, the key automobile manufacturers are spending heavily and are moving towards this technology. These vehicles demonstrate immaculate durability, which specifies significant growth towards the main objectives set by the U.S. Department of Energy. Sale is anticipated to observe stable growth over the forecast period owing to introduction of transit buses and hydrogen fuel cell vehicle market. The innovation and development of the vehicles is anticipated to meet customers’ needs and demands which in turn fuel cell vehicle market size.

Rise in the global hydrogen fuel cell vehicle market share is expected to generate more employment and business opportunities mainly in the R&D department. This technology facilitates in declining local air pollutants and greenhouse gas emissions which in turn diversify energy sources to minimize the need for conventional sources. Proliferating implementation and acceptance of hydrogen vehicles in public transit systems is anticipated to surge the industry demand over the coming few years. According to National Research Council, these vehicles are likely to lessen the dependency on oil. In addition it also helps in reducing the green house gas emissions as well as local air pollution.

U.S. FCV market share is anticipated to gain significant share owing to stringent government norms and initiatives undertaken in order to develop hydrogen infrastructure. In addition, introduction of shale gas have lowered the cost of natural gas and also facilitates in advancing hydrogen reform technologies, thus making it economical. Asia Pacific fuel cell vehicle market is likely to grow at considerable growth rate owing to stringent government programs promoting these vehicles primarily in emerging nations such as China, South Korea, Vietnam and India.

Browse Full Report: www.gminsights.com/industry-analysis/fuel-cell-vehicle-fcv-market

The Fuel Cell Vehicle Market key players involved are Cellkraft, Acumentrics SOFC, Altergy Systems, Ballard Power Systems, Ceramic Fuel Cells, BIC Consumer Products and Automotive Fuel Cell Cooperation among others. The FCV market size is anticipated to observe momentous number of new entrants over the forecast period. Other industry participants include Nissan, Toyota Motor, BMW, Audi, Daimler, Riversimple UK, GreenGT, Ballard, Hyundai Korea, Proton Power Systems, Hydrogenics, GreenGT Belgium and VW Group among others.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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