Hydrogen Vehicle Market – The Biggest Trends to Watch out for 2018 to 2027

Posted on 2021-02-22 by Future Market Insights, Inc in Internet & Online // 0 Comments

The rising concern regarding global warming and greenhouse gas emissions have led to government initiatives encouraging the development of zero emission vehicles by various players in the automotive industry and a gradual shift from fossil fuel to renewable energy has reshaped the landscape.

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In a bid to improve fuel efficiency, there has been a rise in R&D activity for the development of fuel cell technology for commercial purposes, with automotive players looking into hydrogen vehicles as an avenue to explore.

The preference of consumers is also gradually shifting towards cars that have a smaller or no carbon footprint, even as the awareness of the impact of air pollution rises among people.

Both these factors are likely to have a significant impact on the growth of the global hydrogen vehicle market.

The research report serves as a comprehensive business document for the major market participants identified in the global hydrogen vehicle market. Some of the leading participants operating in the global market include Ballard Power System, GM Hydrogenics, FuelCell Energy, Daimler AG.

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Other prominent market participants identified in the global market include Toyota, Hyundai, BMW, Audi, and Honda. The report provides insightful data pertaining to various marketing strategies adopted by the leading market players over the coming years.

Gradual shift from gasoline and fuel towards hydrogen is redefining the energy system globally. As governments in various countries are pushing for environment-friendly fuel solutions, the leading automotive manufacturers such as Toyota and Daimler SA are concentrating on adopting hydrogen fuel cells in the vehicles. Hydrogen fuel cells are increasingly gaining popularity among the leading automotive companies such as BMW and Audi as they offers higher efficiency and low heat transmission.

Three companies based in the U.S. – PDC Machines, McPhy Energy N.A., and IVYS Energy Solutions have recently entered into partnership and developed small-scale hydrogen appliances that were mainly designed for the small-scale hydrogen dispensing markets.

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These appliances will witness significant demand for refueling the fuel cell vehicle fleets, local or distributed refueling of FCEVs. These appliances use electricity and water to produce the high purity fuel cell-grade hydrogen through the process of electrolysis. Major market players are concentrating on adopting marketing strategies such as collaborations and partnerships to sustain their lead in the competitive market.

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