San
Francisco, 24 April , Fuel Cell Vehicle Market Size, Share &
Trends Analysis Report By Region (Europe, North America, Asia Pacific),
Competitive Landscape, And Segment Forecasts, 2018 - 2025
The global fuel cell vehicles market size is expected to reach
USD 1.75 billion by 2025, according to a new report by Grand View Research,
Inc., registering a 33.7% CAGR during the forecast period. This rapid growth
can be attributed to increase in investments by governments over the world for
development and adoption of fuel cells.
Fuel cell vehicles ensure
emission-free operation, which will effectively reduce the carbon footprint and
significantly drive product demand over the next few years. The key factor
expected to drive the industry is advancements in fuel cell technology. Ongoing
advancements have helped match performance with conventional fuel vehicles,
with respect to power output and user experience.
Adoption of fuel cell vehicles
worldwide is expected to rise over the forecast period due to increasing
awareness about reducing harmful emissions, strict environmental regulations,
and growing incentives for use of clean energy.
Access Full Research
Report On Fuel Cell Vehicle Market Analysis:
Further key findings from the report suggest:
·
The global fuel cell vehicles
market was valued at USD 194.5 million in 2017 and is expected to exhibit a
CAGR of 33.7% over the forecast years owing to growing trend of clean energy
consumption
·
Several government initiatives
and programs to encourage the use of fuel cell vehicles have led to an increase
in their adoption, subsequently increasing their demand over the past few years
·
North America accounted for the
largest market share in 2017 and is anticipated to exhibit a CAGR of over 36.0%
over the forecast period. This can be attributed to massive investments by the
United States Department of Energy (DoE) in development of fuel cells and
improvement of infrastructure
·
Although the Europe fuel cell
vehicles market accounted for just over 3.0% of the overall market revenue in
2017, it is anticipated to be the fastest growing region with CAGR of more than
38.0% over the forecast period
·
Key market players include
Toyota Motor Corporation, Honda Motor Company, Ltd., and Hyundai Motor Company.
Apart from these, there are several other automobile manufacturers that are in
the process of launching their fuel cell vehicles.
Browse More Reports Of This Category By
Grand View Research At: https://www.grandviewresearch.com/industry/automotive-and-transportation
Grand View Research has segmented the
global fuel cell vehicle market on the basis of region:
Fuel Cell Vehicles Regional
Outlook (Volume, Units; Revenue, USD Billion, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
Access Full Press Release of this Report: https://www.grandviewresearch.com/press-release/global-fuel-cell-vehicles-market
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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