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Global Fuel Cell Commercial Vehicle Market 2017-2021

Global Fuel Cell Commercial Vehicle Market 2017-2021

About Fuel Cell Commercial Vehicle

Fuel cell technology is a green technology, which involves a chemical reaction between hydrogen and oxygen to produce electricity and water. This is expected to be the future fuel due to the abundance of hydrogen in the universe. Fuel cells use hydrogen as the primary energy source, which is abundantly available in the universe and produces electricity by a chemical reaction with oxygen in the presence of a catalyst (platinum). The output of this reaction is water.

Technavio’s analysts forecast the global fuel cell commercial vehicle market to grow at a CAGR of 24.66% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global fuel cell commercial vehicle market for 2017-2021. To calculate the market size, the report considers the shipments

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Fuel Cell Commercial Vehicle Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Daimler
  • Renault
  • Toyota Motor Corporation
Other prominent vendors
  • Ballard Power Systems
  • Iveco Bus
  • MAN
  • Thor Industries
  • Van Hool
Market driver
  • Increase in the number of hydrogen production facilities
  • For a full, detailed list, view our report
Market challenge
  • Fossil fuels are still the major energy source used to produce hydrogen
  • For a full, detailed list, view our report
Market trend
  • Entry of big manufacturers in FCV segment
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global Fuel Cell Commercial Vehicle Market 2017-2021

Technavio recognizes the following companies as the key players in the global fuel cell commercial vehicle market: Daimler, Renault, and Toyota Motor Corporation

Other Prominent Vendors in the market are: Ballard Power Systems, Iveco Bus, MAN, Thor Industries, and Van Hool.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Entry of big manufacturers in FCV segment. Previously, only institutes were conducting research on FCV. However, lately, major manufacturers have invested a huge sum on R&D (Toyota, Daimler, Honda, Hyundai, Mercedes-Benz, and BMW). Major bodies like The New Energy Foundation (NEF) are working in collaboration with the New Energy and Industrial Technology Development Organization (NEDO) to reduce the complexity of fuel cell technology so that it can be adopted by masses. More than 11 projects are in progress, which involves the development and validation of polymer-electrolyte fuel cell technology.”

According to the report, one of the major drivers for this market is Increase in the number of hydrogen production facilities. Hydrogen is selected as the optimal replacement for traditional fossil fuels because of its abundance in the universe. It is the key fuel source that powers a fuel cell vehicle. Worldwide, around 80 million tons of hydrogen is produced every year at an average price ranging between $1.0/kg to $1.80/kg. For a sustained growth, the fuel cell market needs an additional 90 million tons of hydrogen annually.

Further, the report states that one of the major factors hindering the growth of this market is Fossil fuels are still the major energy source used to produce hydrogen. Hydrogen is a clean source of energy as its reaction with oxygen creates water, but mass production of hydrogen is a major challenge. To date, a major share of hydrogen is being produced using fossil fuels (coal, oil, natural gas, and nuclear). Producing hydrogen using electrolysis is not efficient because of the high demand for electricity and a lower output ratio. Power sources, such as biomass, wind, hydropower, and solar are not enough to meet the requirements of hydrogen production.

Companies Mentioned

Daimler, Renault, and Toyota Motor Corporation, Ballard Power Systems, Iveco Bus, MAN, Thor Industries, and Van Hool.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Market outline
      • Table Effects of increasing AQI
      • Table Effects of climate change
      • Table Adverse effects of scarcity of oil
      • Table Working of an FCV
  • Market landscape
    • Market overview
      • Table Global FCV market 2016-2021 (in units)
      • Table Global fuel cell commercial vehicle market segmentation
    • Market size and forecast
      • Table Global FCCV market 2016-2021 (in units)
      • Table Recent developments in commercial FCV market
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by application
    • Global FCCV market segmentation by application
      • Table Global FCCV market segmentation by application 2016 and 2021 (in %)
      • Table Global FCCV market segmentation by application 2016-2021 (in %)
    • Global FCCV market for LCV
      • Table Global FCCV market for LCV 2016-2021 (in units)
    • Global FCCV market for M&HCV
      • Table Global FCCV market for M&HCV 2016-2021 (in units)
  • Geographical segmentation
    • Global FCCV market segmentation by geography
      • Table Global FCCV market segmentation by geography 2016 (in %)
      • Table Global FCCV market segmentation by geography 2021 (in %)
      • Table Global FCCV market segmentation by geography 2016-2021 (in %)
    • Global FCCV market in APAC
      • Table Global FCCV market in APAC 2016-2021 (in units)
    • Global FCCV market in EMEA
      • Table Global FCCV market in EMEA 2016-2021 (in units)
    • Global FCCV market in Americas
      • Table Global FCCV market in Americas 2016-2021 (in units)
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Hydrogen refilling stations 2017-2021
  • Market trends
  • Vendor landscape
    • Vendor overview
    • Other prominent vendors
      • Table Other prominent vendors
  • Key vendor analysis
    • Daimler
      • Table Daimler: Business segmentation
      • Table Daimler: Key brands
      • Table Daimler: Recent developments
    • Renault
      • Table Renault: Recent developments
    • Toyota Motor Corporation
      • Table Toyota Motor Corporation: Recent developments
  • Appendix
    • List of abbreviations
  • Explore Technavio

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