Table of Contents
Executive Summary
Market Attractiveness Analysis
Global Hydrogen Fuel Cell Vehicle Market, by Technology
Global Hydrogen Fuel Cell Vehicle Market, by Vehicle Type
Global Hydrogen Fuel Cell Vehicle Market, by Region
Market Introduction
Definition
Scope of the Study
Market Structure
Research Methodology
Research Process
Primary Research
Secondary Research
Market Size Estimation
Forecast Model
List of Assumptions
Market Dynamics
Introduction
Drivers
Increasing concerns about air pollution and climate change
Growing government support for hydrogen fuel cell vehicles
Driver 3
Drivers Impact Analysis
Restraints
Lack of hydrogen refueling infrastructure
Restraints Impact Analysis
Opportunities
Growing demand for hydrogen fuel cell vehicles in commercial and public transportation applications
Opportunity 2
Challenge
Challenge 1
Impact of COVID-19
Impact on Hydrogen Fuel Cell Vehicle market
Impact on YoY Growth
Market Factor Analysis
Value Chain Analysis/Supply Chain Analysis
Porter’s Five Forces Model
Bargaining Power of Suppliers
Bargaining Power of Buyers
Threat of New Entrants
Threat of Substitutes
Intensity of Rivalry
Market SWOT analysis
Market PESTEL analysis
Global Hydrogen Fuel Cell Vehicle Market Size Estimation & Forecast, by Technology
Introduction
Proton Exchange Membrane Fuel Cell (PEMFC)
Phosphoric Acid Fuel Cell (PAFC)
Solid Oxide Fuel Cell (SOFC)
Others
Global Hydrogen Fuel Cell Vehicle Market Size Estimation & Forecast, by Vehicle Type
Introduction
Passenger Car
Commercial Vehicle
Global Hydrogen Fuel Cell Vehicle Market Size Estimation & Forecast, by REGION
Introduction
North America
Market Estimates & Forecast, by Country, 2019-2032
Market Estimates & Forecast, by Technology, 2019-2032
Market Estimates & Forecast, by Vehicle Type, 2019-2032
US
Market Estimates & Forecast, by Technology, 2019-2032
Market Estimates & Forecast, by Vehicle Type, 2019-2032
Canada
Market Estimates & Forecast, by Technology, 2019-2032
Market Estimates & Forecast, by Vehicle Type, 2019-2032
Mexico
Market Estimates & Forecast, by Technology, 2019-2032
Market Estimates & Forecast, by Vehicle Type, 2019-2032
Europe
Market Estimates & Forecast, by Country, 2019-2032
Market Estimates & Forecast, by Technology, 2019-2032
Market Estimates & Forecast, by Vehicle Type, 2019-2032
UK
Market Estimates & Forecast, by Technology, 2019-2032
Market Estimates & Forecast, by Vehicle Type, 2019-2032
Germany
Market Estimates & Forecast, by Technology, 2019-2032
Market Estimates & Forecast, by Vehicle Type, 2019-2032
France
Market Estimates & Forecast, by Technology, 2019-2032
Market Estimates & Forecast, by Vehicle Type, 2019-2032
Rest of Europe
Market Estimates & Forecast, by Technology, 2019-2032
Market Estimates & Forecast, by Vehicle Type, 2019-2032
Asia-Pacific
Market Estimates & Forecast, by Country, 2019-2032
Market Estimates & Forecast, by Technology, 2019-2032
Market Estimates & Forecast, by Vehicle Type, 2019-2032
China
Market Estimates & Forecast, by Technology, 2019-2032
Market Estimates & Forecast, by Vehicle Type, 2019-2032
India
Market Estimates & Forecast, by Technology, 2019-2032
Market Estimates & Forecast, by Vehicle Type, 2019-2032
Japan
Market Estimates & Forecast, by Technology, 2019-2032
Market Estimates & Forecast, by Vehicle Type, 2019-2032
Rest of Asia-Pacific
Market Estimates & Forecast, by Technology, 2019-2032
Market Estimates & Forecast, by Vehicle Type, 2019-2032
Rest of the World
Market Estimates & Forecast, by Country, 2019-2032
Market Estimates & Forecast, by Technology, 2019-2032
Market Estimates & Forecast, by Vehicle Type, 2019-2032
Middle East & Africa
Market Estimates & Forecast, by Technology, 2019-2032
Market Estimates & Forecast, by Vehicle Type, 2019-2032
South America
Market Estimates & Forecast, by Technology, 2019-2032
Market Estimates & Forecast, by Vehicle Type, 2019-2032
Competitive Landscape
Introduction
Key Players Market Share Analysis, 2022 (%)
Competitive Benchmarking
Key Developments & Growth Strategies
New Product Development/Product Innovation
Mergers & Acquisitions
Contracts & Agreements
Expansions & Investments
Company Profiles
Toyota Motor Corporation
Company Overview
Financial Overview
Products Offered
Key Developments
SWOT Analysis
Key Strategies
Hyundai Motor Company
Daimler AG
BMW Group
Honda Motor Company
Volvo Group AB
Ballard Power Systems Inc.
Plug Power Inc.
FuelCell Energy Inc.
Doosan Fuel Cell Co. Ltd.
Company 11
Company 12
Company 13
Company 14
Company 15
Other Players
LIST OF TABLES
TABLE 1 LIST OF ASSUMPTIONS 31
TABLE 2 GLOBAL HYDROGEN FUEL CELL VEHICLE, BY TECHNOLOGY, 2019–2032 (USD MILLION) 46
TABLE 3 GLOBAL HYDROGEN FUEL CELL VEHICLE, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 49
TABLE 4 GLOBAL HYDROGEN FUEL CELL VEHICLE, BY REGION, 2019–2032 (USD MILLION) 53
TABLE 5 NORTH AMERICA: HYDROGEN FUEL CELL VEHICLE MARKET, BY COUNTRY, 2019–2032 (USD MILLION) 54
TABLE 6 NORTH AMERICA: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 55
TABLE 7 NORTH AMERICA: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 55
TABLE 8 US: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 56
TABLE 9 US: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 56
TABLE 10 CANADA: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 57
TABLE 11 CANADA: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 57
TABLE 12 MEXICO: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 58
TABLE 13 MEXICO: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 58
TABLE 14 EUROPE: HYDROGEN FUEL CELL VEHICLE MARKET, BY COUNTRY, 2019–2032 (USD MILLION) 59
TABLE 15 EUROPE: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 60
TABLE 16 EUROPE: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 60
TABLE 17 UK: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 61
TABLE 18 UK: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 61
TABLE 19 GERMANY: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 62
TABLE 20 GERMANY: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 62
TABLE 21 FRANCE: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 63
TABLE 22 FRANCE: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 63
TABLE 23 ITALY: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 64
TABLE 24 ITALY: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 64
TABLE 25 SPAIN: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 65
TABLE 26 SPAIN: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 65
TABLE 27 REST OF EUROPE: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 66
TABLE 28 REST OF EUROPE: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 66
TABLE 29 ASIA-PACIFIC: HYDROGEN FUEL CELL VEHICLE MARKET, BY COUNTRY, 2019–2032 (USD MILLION) 68
TABLE 30 ASIA-PACIFIC: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 68
TABLE 31 ASIA-PACIFIC: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 68
TABLE 32 CHINA: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 69
TABLE 33 CHINA: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 69
TABLE 34 INDIA: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 70
TABLE 35 INDIA: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 70
TABLE 36 JAPAN: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 71
TABLE 37 JAPAN: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 71
TABLE 38 SOUTH KOREA: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 72
TABLE 39 SOUTH KOREA: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 72
TABLE 40 REST OF ASIA-PACIFIC: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 73
TABLE 41 REST OF ASIA-PACIFIC: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 73
TABLE 42 MIDDLE EAST & AFRICA: HYDROGEN FUEL CELL VEHICLE MARKET, BY COUNTRY, 2019–2032 (USD MILLION) 75
TABLE 43 MIDDLE EAST & AFRICA: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 76
TABLE 44 MIDDLE EAST & AFRICA: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 76
TABLE 45 UAE: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 77
TABLE 46 UAE: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 77
TABLE 47 SAUDI ARABIA: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 78
TABLE 48 SAUDI ARABIA: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 78
TABLE 49 SOUTH AFRICA: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 79
TABLE 50 SOUTH AFRICA: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 79
TABLE 51 REST OF MEA: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 80
TABLE 52 REST OF MEA: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 80
TABLE 53 SOUTH AMERICA: HYDROGEN FUEL CELL VEHICLE MARKET, BY COUNTRY, 2019–2032 (USD MILLION) 81
TABLE 54 SOUTH AMERICA: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 82
TABLE 55 SOUTH AMERICA: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 82
TABLE 56 BRAZIL: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 83
TABLE 57 BRAZIL: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 83
TABLE 58 ARGENTINA: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 84
TABLE 59 ARGENTINA: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 84
TABLE 60 REST OF SOUTH AMERICA: HYDROGEN FUEL CELL VEHICLE MARKET, BY TECHNOLOGY, 2019–2032 (USD MILLION) 85
TABLE 61 REST OF SOUTH AMERICA: HYDROGEN FUEL CELL VEHICLE MARKET, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 85
TABLE 62 KEY DEVELOPMENTS: PRODUCT LAUNCHES 85
TABLE 63 KEY DEVELOPMENTS: CONTRACTS & AGREEMENTS 88
TABLE 64 KEY DEVELOPMENTS: PARTNERSHIPS & COLLABORATIONS 89
TABLE 65 TOYOTA MOTOR CORPORATION: PRODUCTS OFFERED 90
TABLE 66 TOYOTA MOTOR CORPORATION: KEY DEVELOPMENTS 91
TABLE 67 HYUNDAI MOTOR COMPANY: PRODUCTS OFFERED 92
TABLE 68 HYUNDAI MOTOR COMPANY: KEY DEVELOPMENTS 93
TABLE 69 DAIMLER AG: PRODUCTS OFFERED 94
TABLE 70 DAIMLER AG: KEY DEVELOPMENTS 95
TABLE 71 BMW GROUP: PRODUCTS OFFERED 96
TABLE 72 BMW GROUP: KEY DEVELOPMENTS 97
TABLE 73 HONDA MOTOR COMPANY: PRODUCTS OFFERED 98
TABLE 74 HONDA MOTOR COMPANY: KEY DEVELOPMENTS 99
TABLE 75 VOLVO GROUP AB: PRODUCTS OFFERED 100
TABLE 76 VOLVO GROUP AB: KEY DEVELOPMENTS 101
TABLE 77 BALLARD POWER SYSTEMS INC.: PRODUCTS OFFERED 102
TABLE 78 BALLARD POWER SYSTEMS INC.: KEY DEVELOPMENTS 103
TABLE 79 PLUG POWER INC.: PRODUCTS OFFERED 104
TABLE 80 PLUG POWER INC.: KEY DEVELOPMENTS 105
TABLE 81 FUELCELL ENERGY INC.: PRODUCTS OFFERED 106
TABLE 82 FUELCELL ENERGY INC.: KEY DEVELOPMENTS 107
TABLE 83 DOOSAN FUEL CELL CO. LTD.: PRODUCTS OFFERED 108
TABLE 84 DOOSAN FUEL CELL CO. LTD.: KEY DEVELOPMENTS 109
TABLE 85 COMPANY 11: PRODUCTS OFFERED 110
TABLE 86 COMPANY 11: KEY DEVELOPMENTS 111
TABLE 87 COMPANY 12: PRODUCTS OFFERED 112
TABLE 88 COMPANY 12: KEY DEVELOPMENTS 113
TABLE 89 COMPANY 13: PRODUCTS OFFERED 114
TABLE 90 COMPANY 13: KEY DEVELOPMENTS 115
TABLE 91 COMPANY 14: PRODUCTS OFFERED 116
TABLE 92 COMPANY 14: KEY DEVELOPMENTS 117
TABLE 93 COMPANY 15: PRODUCTS OFFERED 118
TABLE 94 COMPANY 15: PRODUCTS OFFERED 119
LIST OF FIGURES
FIGURE 1 MARKET SYNOPSIS 20
FIGURE 2 GLOBAL HYDROGEN FUEL CELL VEHICLE MARKET ANALYSIS, BY TECHNOLOGY 21
FIGURE 3 GLOBAL HYDROGEN FUEL CELL VEHICLE MARKET ANALYSIS, BY VEHICLE TYPE 22
FIGURE 5 GLOBAL HYDROGEN FUEL CELL VEHICLE MARKET: STRUCTURE 25
FIGURE 6 RESEARCH PROCESS 26
FIGURE 7 TOP-DOWN & BOTTOM-UP APPROACHES 29
FIGURE 8 MARKET DYNAMICS OVERVIEW 32
FIGURE 9 DRIVER IMPACT ANALYSIS: GLOBAL HYDROGEN FUEL CELL VEHICLE MARKET 34
FIGURE 10 RESTRAINT IMPACT ANALYSIS: GLOBAL HYDROGEN FUEL CELL VEHICLE MARKET 35
FIGURE 11 PORTER’S FIVE FORCES ANALYSIS: GLOBAL HYDROGEN FUEL CELL VEHICLE 38
FIGURE 12 SUPPLY CHAIN ANALYSIS: GLOBAL HYDROGEN FUEL CELL VEHICLE 40
FIGURE 13 GLOBAL HYDROGEN FUEL CELL VEHICLE, BY TECHNOLOGY, 2022 (% SHARE) 45
FIGURE 14 GLOBAL HYDROGEN FUEL CELL VEHICLE, BY TYPE, 2019–2032 (USD MILLION) 45
FIGURE 15 GLOBAL HYDROGEN FUEL CELL VEHICLE, BY VEHICLE TYPE, 2022 (% SHARE) 47
FIGURE 16 GLOBAL HYDROGEN FUEL CELL VEHICLE, BY VEHICLE TYPE, 2019–2032 (USD MILLION) 47
FIGURE 19 GLOBAL HYDROGEN FUEL CELL VEHICLE, BY REGION, 2019 TO 2032 (USD MILLION) 52
FIGURE 20 GLOBAL HYDROGEN FUEL CELL VEHICLE, BY REGION, 2022 (% SHARE) 53
FIGURE 21 NORTH AMERICA: HYDROGEN FUEL CELL VEHICLE MARKET SHARE, BY COUNTRY, 2022 (% SHARE) 54
FIGURE 22 EUROPE: HYDROGEN FUEL CELL VEHICLE MARKET SHARE, BY COUNTRY, 2022 (% SHARE) 59
FIGURE 23 ASIA-PACIFIC: HYDROGEN FUEL CELL VEHICLE MARKET SHARE, BY COUNTRY, 2022 (% SHARE) 67
FIGURE 24 MIDDLE EAST & AFRICA: HYDROGEN FUEL CELL VEHICLE MARKET SHARE, BY COUNTRY, 2022 (% SHARE) 75
FIGURE 25 SOUTH AMERICA: HYDROGEN FUEL CELL VEHICLE MARKET SHARE, BY COUNTRY, 2022 (% SHARE) 81
FIGURE 26 BENCHMARKING OF MAJOR COMPETITORS 87
FIGURE 27 GLOBAL HYDROGEN FUEL CELL VEHICLE MARKET SHARE ANALYSIS, 2022 88
FIGURE 28 TOYOTA MOTOR CORPORATION: FINANCIAL OVERVIEW SNAPSHOT 89
FIGURE 29 TOYOTA MOTOR CORPORATION: SWOT ANALYSIS 90
FIGURE 30 HYUNDAI MOTOR COMPANY: FINANCIAL OVERVIEW SNAPSHOT 91
FIGURE 31 HYUNDAI MOTOR COMPANY: SWOT ANALYSIS 92
FIGURE 32 DAIMLER AG: FINANCIAL OVERVIEW SNAPSHOT 93
FIGURE 33 DAIMLER AG: SWOT ANALYSIS 94
FIGURE 34 BMW GROUP: FINANCIAL OVERVIEW SNAPSHOT 95
FIGURE 35 BMW GROUP: SWOT ANALYSIS 96
FIGURE 36 HONDA MOTOR COMPANY: FINANCIAL OVERVIEW SNAPSHOT 97
FIGURE 37 HONDA MOTOR COMPANY: SWOT ANALYSIS 98
FIGURE 38 VOLVO GROUP AB: FINANCIAL OVERVIEW SNAPSHOT 99
FIGURE 39 VOLVO GROUP AB: SWOT ANALYSIS 100
FIGURE 40 BALLARD POWER SYSTEMS INC.: FINANCIAL OVERVIEW SNAPSHOT 101
FIGURE 41 BALLARD POWER SYSTEMS INC.: SWOT ANALYSIS 102
FIGURE 42 PLUG POWER INC.: FINANCIAL OVERVIEW SNAPSHOT 103
FIGURE 43 PLUG POWER INC.: SWOT ANALYSIS 104
FIGURE 44 FUELCELL ENERGY INC.: FINANCIAL OVERVIEW SNAPSHOT 105
FIGURE 45 FUELCELL ENERGY INC.: SWOT ANALYSIS 106
FIGURE 46 DOOSAN FUEL CELL CO. LTD.: FINANCIAL OVERVIEW SNAPSHOT 107
FIGURE 47 DOOSAN FUEL CELL CO. LTD.: SWOT ANALYSIS 108
FIGURE 48 COMPANY 11: FINANCIAL OVERVIEW SNAPSHOT 109
FIGURE 49 COMPANY 11: SWOT ANALYSIS 110
FIGURE 50 COMPANY 12: FINANCIAL OVERVIEW SNAPSHOT 111
FIGURE 51 COMPANY 12: SWOT ANALYSIS 112
FIGURE 52 COMPANY 13: FINANCIAL OVERVIEW SNAPSHOT 113
FIGURE 53 COMPANY 13: SWOT ANALYSIS 114
FIGURE 54 COMPANY 14: FINANCIAL OVERVIEW SNAPSHOT 115
FIGURE 55 COMPANY 14: SWOT ANALYSIS 116
FIGURE 56 COMPANY 15: FINANCIAL OVERVIEW SNAPSHOT 117
FIGURE 57 COMPANY 15: FINANCIAL OVERVIEW SNAPSHOT 118