Market Research Report
Strategic Collaborations Towards Technology Development Transforming The Global Fuel Cell Vehicles Market, 2020-2030
|Published by||Frost & Sullivan||Product code||959743|
|Published||Content info||113 Pages
Delivery time: 1-2 business days
|Strategic Collaborations Towards Technology Development Transforming The Global Fuel Cell Vehicles Market, 2020-2030|
|Published: August 28, 2020||Content info: 113 Pages||
Establishing a Robust Refuelling Infrastructure and Lowering the Cost of H2 Production to Drive Growth Opportunities
The automotive industry is rapidly evolving in terms of technology as well as tackling environmental issues. Electric vehicles (EVs) have been introduced as a clean energy initiative as they have low or zero emissions, and have come a long way to become an integral part of OEMs' business strategies. Automakers like PSA and VW are creating separate EV business units to be prepared for the expected EV boom in the future. Along with long-range battery electric vehicles (BEVs), governments and OEMs are also looking at fuel cell electric vehicles (FCEVs) as a viable solution especially for light & heavy commercial vehicles (CVs) and sports utility vehicles (SUVs) in passenger cars.
Currently, there are only 3 models active in the market - Hyundai Nexo (most sold in 2019), Toyota Mirai, and Honda Clarity. Hyundai Tucson is awaiting an upgrade and we can expect a new Tucson and Clarity in the market next year. We expect about 25+ models to be available, together accounting for about 1-1.5% of global passenger car (PC) sales by the end of this decade.
Proton exchange membrane, or PEM, is currently the only type of fuel cells found viable for usage in mobility due to its high power density and other advantages related to low weight and volume compared to other types. It operates at low temperatures of about 80 degrees Celsius, which makes it suitable for mobility applications and other uses that require an initial high demand of power, which is of high density.
Cost, infrastructure, and safety are few most important barriers for the growth in FCEV sales. Companies across the value chain and governments are working closely towards reducing the cost of the vehicle, hydrogen production and retail pricing, increasing the number of refueling stations and improving safety, and we can expect FCEVs to have price parity with traditional internal combustion engine (ICE) vehicles by 2030.
This study gives us a detailed analysis of the current and future scenarios of FCEV sales, stations, hydrogen fuel, and the push from governments for their adoption in regions like North America, Europe, China, Japan, and South Korea. It can be used to gain insights into OEM strategies in establishing a profitable supply chain and to track the various automotive trends and their impact on the FCEV market.