Electric Vehicles Fuel Cell Market
Electric Vehicles Fuel Cell Market Global Industry Assessment & Forecast
#
Pages:
142
2021
Nov - 2021
VMR-2021-0565
Segments Covered
By
Product Types Proton Exchange Membrane Fuel Cell (PEMFC), Solid Oxide Fuel Cell (SOFC), Molten Carbonate Fuel Cell (MCFC)
-
By
Vehicle Type Passenger Car (PC), Commercial Vehicle
Snapshot
 Forecast
Years:
|
2021 - 2028 |
 Historical
Years:
|
2016 - 2020 |
 Revenue
2021: |
2.42 Billion |
 Revenue 2028:
|
29.00 Billion |
 Revenue CAGR
(2021 - 2028): |
36.40% |
Fastest Growing Region (2022 -
2028)
|
Asia Pacific |
Customization Offered
Cross-segment Market Size and
Analysis
for Mentioned Segments- Additional Company Profiles (Upto 5
With
No Cost)
- Additional Countries (Apart From
Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request
Customization Speak To
Analyst
Research Methodology: Electric Vehicles Fuel Cell Market - Global Market Assessment, 2021 - 2028
Electric Vehicles Fuel Cell Market study involves the combination of secondary and primary research for data collection and utilizes a robust and veracious methodology to attain results on quantitative and qualitative analysis for specific market research studies. Moreover, Vantage Market Research utilizes tried and tested approaches to arrive at market-related projections. The research methodology is based on the 3-dimensional model consisting of 3 phases namely: Secondary Research, Primary Research, and Data Triangulation. After the exhaustive secondary research, the procured information is revalidated through primary research.
Secondary Research
Primary Research:
The primary research was conducted to gather further information and revalidate the data collected from the secondary research. Moreover, primary research is also conducted to identify key players in the market and to gather their market-specific financial information. A typical primary interview fulfills data requirements pertaining to first-hand information on global market size, regional and segmental trends, competitive landscape expertise development, and market understandings among others.
Data Triangulation and Market Size Estimations
Top-down and bottom-up approaches are used to validate and estimate the market size of the Electric Vehicles Fuel Cell market. After the determination of the overall market size, the market is divided into various segments and sub-segments. Moreover, these same approaches mentioned above were used to derive and estimate market numbers for mentioned segments/sub-segments in the market. The data was triangulated by employing various data models and statistical techniques to arrive at exact statics and market size for each segment/sub-segment of the market. Moreover, region-wise product mapping analysis was used to gain some more insights on the competitive trend in the global Electric Vehicles Fuel Cell market.
FAQ
Frequently Asked Question
What is the global demand for Electric Vehicles Fuel Cell in terms of revenue?
-
The global Electric Vehicles Fuel Cell valued at 2.42 Billion in 2020 and is expected to reach 29.00 Billion in 2028 growing at a CAGR of 36.40%%.
Which are the prominent players in the market?
-
The prominent players in the market are LG Chem, AFCC, Boyam Power, SFC Power, Nuvera, PowerCell Sweden AB, Johnson Controls, Doosan, Jaz Products, GS Yuasa, Nekson Power, Johnson Matthey Fuel Cells, Ballard Power, HYGS, Bloom Energy, Plug Power, Delphi, Intelligent Energy, Horizon..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 36.40%% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the Electric Vehicles Fuel Cell include
- Electric vehicle fuel cells offer better fuel economy compared to ICE vehicles. The efficiency of a fuel cell electric vehicle (FCEV) is twice as high as the efficiency of a conventional petrol internal combustion engine (ICE) automobiles. Hence, better fuel efficiency and increased driving range is expected to fuel the demand for electric vehicles fuel cell market.
- The increasing environmental concerns and awareness among consumers is anticipated to augment the growth of the electric vehicles fuel cell market during the forecast period. This is due to rise in environment degradation and depletion of natural resources. Additionally, numerous technologies that support the eco-friendly concept to withstand the environment are being introduced in the market. Furthermore, increasing awareness of the consequences of air pollution and rise in greenhouse gas emission due to increasing vehicles are also supporting the of fuel cell electric vehicle, as they are categorised as zero-emissions vehicles.
Which region accounted for the largest share in the market?
-
Asia Pacific was the leading regional segment of the Electric Vehicles Fuel Cell in 2020.
