Hydrogen Fuel Cell Vehicle Market Projected to Grow at a CAGR
of ~65% By 2030
Research Nester published a report titled “Hydrogen Fuel Cell Vehicle
Market: Global Demand Analysis & Opportunity Outlook 2030” which
delivers detailed overview of the global hydrogen fuel cell vehicle market in
terms of market segmentation by vehicle type, technology, and by region.
Further, for the in-depth analysis, the report encompasses the industry
growth indicators, restraints, supply and demand risk, along with detailed
discussion on current and future market trends that are associated with the
growth of the market.
The global hydrogen fuel cell vehicle market is anticipated to attain a CAGR
of ~65% over the forecast period, i.e., 2022 – 2030. The market is
segmented on the basis of vehicle type into commercial, personal, and
others, out of which the personal segment is foreseen to attain a notable
market share as hydrogen fuel cell vehicles are being used for personal use
only, presently. The cost of these vehicles is higher than other battery
powered cars, which is why, the commercial segment is estimated to
experience slower growth.
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The global hydrogen fuel cell vehicle market is projected to grow on the
back of growing acceptance of low-emission cars, backed by the rising
environment awareness amongst the population. Unlike hydrogen vehicles,
hydrogen fuel cell vehicle only produce water as residue of the chemical
reaction, making it eco-friendly and efficient. The shift of consumer
demand from fossil fuel driven vehicles to eco-friendly vehicles is evident
by the growing demand for EVs. The growing sale of electric and battery
powered vehicles is also estimated to strengthen the market growth.
On the basis of geographical analysis, the global hydrogen fuel cell vehicle
market is segmented into five major regions including North America,
Europe, Asia Pacific, Latin America and Middle East & Africa regi