水素燃料電池自動車市場レポート：技術、車種、地域別、2024～2032年

世界の水素燃料電池車市場規模は、2023年に16億4,100万米ドルに達しました。今後、IMARC Groupは、市場は2032年までに373億2,090万米ドルに達し、2024年から2032年の間に40.67%の成長率（CAGR）を示すと予測しています。研究資金の増加、業界大手との提携の増加、商用車導入の増加、石油価格の高騰、よりクリーンな輸送ソリューションへのニーズの増加、迅速なエネルギー転換などが、市場を後押しする要因の一部です。

水素燃料電池自動車（FCV）は、従来の内燃エンジンの代わりに電気モーターを推進力に利用する電気自動車（EV）です。この革新的な自動車は、効率的な機能を実現するために連動して働くさまざまな部品で構成されています。これらの部品の中には、バッテリーとバッテリーパック、直流（DC）コンバーター、電気牽引モーター、燃料電池スタック、燃料フィラー、燃料タンク、パワーエレクトロニクスコントローラー、サーマルシステム、トランスミッションシステムなどがあります。化石燃料に依存する従来の自動車とは異なり、FCVは、車両の燃料タンクから水素（H2）ガスのポテンシャルを利用し、周囲の空気中の酸素（O2）と結合させることで作動します。この化学反応によって電気が発生し、電気モーターが駆動します。このプロセスの興味深い成果は、環境に優しい製品別として水と熱を生成することです。この画期的な技術は、化石燃料への依存を減らし、輸送におけるエコロジカル・フットプリントを最小限に抑えるための有望な道筋を示しています。継続的な研究開発により、水素燃料電池自動車は環境に優しい自動車の未来を大きく形作る可能性があります。

世界市場は、環境問題に対する意識の高まりが大きな原動力となっています。これに伴い、水素燃料電池車は水蒸気と熱しか排出しないため、温室効果ガスの排出を削減する魅力的な選択肢となっています。様々な政府が、水素燃料電池車の導入を促進するために、減税や補助金などのインセンティブを提供しています。さらに、自動車の排出ガスに関する厳しい規制が、水素燃料電池のようなよりクリーンな代替手段を模索するようメーカーを後押ししています。現在進行中の研究開発は、燃料電池の効率、耐久性、費用対効果の改善につながり、市場を活性化しています。さらに、水素燃料補給インフラへの投資が拡大していることで、消費者がこれらの自動車を導入する際の利便性が高まり、市場を後押ししています。加えて、水素燃料電池は、産業機械やバックアップパワーシステムなど、輸送以外にも利用されています。政府、自動車メーカー、エネルギー企業の協力により、水素技術の開発と導入が加速しています。さらに、水素燃料電池車が提供するユニークな運転体験や先進技術に魅力を感じる消費者もおり、需要を刺激しています。

水素燃料電池車市場の動向と促進要因：

水素FCVを使用するメリットに関する一般消費者の意識の高まり

水素燃料電池自動車（FCV）がもたらす様々な利点に対する一般大衆の意識の高まりが市場を強化しています。FCVの排出ガス抑制や大気汚染緩和といった環境面でのメリットに関する情報が広まるにつれ、消費者はますますこの革新的な自動車に惹かれるようになっています。さらに、水素FCVの航続距離の長さや迅速な燃料補給能力に対する意識が高まるにつれて、従来のガソリン車に代わる有力な選択肢として認識されるようになっています。このような認知度の向上は、水素FCVに対する需要の拡大を促し、自動車メーカーがこの関心に応えるための研究開発に投資することを後押ししています。水素FCVの経済的・環境的メリットを強調する積極的な口コミや教育キャンペーンは、市場成長を大きく後押しし、自動車産業をより環境に優しく持続可能な未来へと導いています。

世界の水素燃料電池インフラ整備

水素燃料電池インフラの世界の開発は勢いを増しており、クリーンで持続可能な輸送の未来を形作る上で極めて重要な役割を果たしています。世界各国は、水素燃料電池が二酸化炭素排出量を削減し、エネルギーの多様化を実現する有効なソリューションであることを認識しています。各国政府は、民間セクターの利害関係者と協力して、水素燃料電池自動車（FCV）の普及に不可欠な要素である水素補給ステーションの設置に投資しています。このようなインフラ整備は、環境問題への懸念、厳しい排出規制、化石燃料への依存を減らしたいという願望によって推進されています。欧州、日本、北米の一部といった地域は、水素インフラ開発の最前線にあり、FCVの普及を支援するために燃料補給ステーション網に投資してきました。こうした取り組みには、研究プロジェクト、政策的インセンティブ、自動車メーカーやエネルギー企業とのパートナーシップなどが含まれ、水素燃料補給インフラの展開を加速させています。インフラが整備されれば、消費者に便利な燃料補給の選択肢を提供することで、FCV普及の主要障壁のひとつに対処できます。その結果、自動車メーカーはより多くの水素自動車を生産するようになり、市場を前進させる正のフィードバック・ループが生まれます。水素燃料電池インフラの拡大は、乗用車だけにとどまらず、公共輸送、商用車、さらには大型車への応用にも及んでいます。こうした動きは、二酸化炭素排出量を削減し、持続可能な代替輸送手段を受け入れるという集団的コミットメントを意味します。政府と産業界が協力して水素インフラへの投資を続けるなか、よりクリーンで水素を動力源とするモビリティ・エコシステムの基盤が世界的に固まりつつあります。

化石燃料の枯渇

化石燃料埋蔵量の枯渇は、世界のエネルギー安全保障、経済の安定性、環境の持続可能性に広く影響を及ぼす喫緊の課題です。化石燃料の有限性がますます明らかになるにつれ、代替エネルギー源への移行が急務となっています。この枯渇は、太陽光発電、風力発電、水力発電、原子力発電、水素燃料電池のような技術開発など、再生可能でクリーンなエネルギーへの移行を加速させています。化石燃料の将来的な利用可能性が不透明であることから、政府、産業界、研究者たちは、信頼性が高く持続可能なエネルギーの未来を確保するために、これらの代替手段を模索しています。化石燃料の枯渇は課題である一方、気候変動を緩和し、温室効果ガスの排出を削減する機会でもあります。化石燃料からの転換は、気温上昇を抑制し、カーボンニュートラルを達成するための世界の取り組みと一致します。しかし、この移行には、再生可能な低炭素技術の拡大を支援するための調査、インフラ、政策枠組みへの多大な投資が必要です。化石燃料の埋蔵量の枯渇に対処するためには、技術革新、協力、先進的な政策を取り入れた包括的なアプローチが必要です。そうすることで、社会は化石燃料資源の減少という課題を克服しながら、よりクリーンで持続可能なエネルギーシステムのメリットを享受することができます。

本レポートで扱う主要質問

• 2023年の水素燃料電池自動車の世界市場規模は？
• 2024年から2032年にかけての水素燃料電池車世界市場の予想成長率は？
• 水素燃料電池車の世界市場を牽引する主要因は？
• COVID-19が水素燃料電池車の世界市場に与えた影響は？
• 水素燃料電池車の世界市場の技術別区分は？
• 水素燃料電池車の世界市場の車種別区分は？
• 水素燃料電池車の世界市場における主要地域は？
• 水素燃料電池車の世界市場における主要参入企業/企業は？

目次

第1章 序文

第2章 調査範囲と調査手法

• 調査目的
• 利害関係者
• データソース
  • 一次情報
  • 二次情報
• 市場推定
  • ボトムアップアプローチ
  • トップダウンアプローチ
• 調査手法

第3章 エグゼクティブサマリー

第4章 イントロダクション

• 概要
• 主要産業動向

第5章 水素燃料電池自動車の世界市場

• 市場概要
• 市場実績
• COVID-19の影響
• 市場予測

第6章 市場内訳：技術別

• 固体高分子形燃料電池
• リン酸型燃料電池
• その他

第7章 市場内訳：車種別

• 乗用車
• 商用車

第8章 市場内訳：地域別

• 北米
  • 米国
  • カナダ
• アジア太平洋
  • 中国
  • 日本
  • インド
  • 韓国
  • オーストラリア
  • インドネシア
  • その他
• 欧州
  • ドイツ
  • フランス
  • 英国
  • イタリア
  • スペイン
  • ロシア
  • その他
• ラテンアメリカ
  • ブラジル
  • メキシコ
  • その他
• 中東・アフリカ地域
  • 市場動向
  • 市場内訳：国別
  • 市場予測

第9章 SWOT分析

• 概要
• 強み
• 弱み
• 機会
• 脅威

第10章 バリューチェーン分析

第11章 ポーターのファイブフォース分析

• 概要
• 買い手の交渉力
• 供給企業の交渉力
• 競合の程度
• 新規参入業者の脅威
• 代替品の脅威

第12章 価格分析

第13章 競合情勢

• 市場構造
• 主要企業
• 主要企業のプロファイル
  • Ballard Power Systems Inc.
  • Bayerische Motoren Werke AG
  • Cummins Inc.
  • General Motors Company
  • Hyundai Motor Company
  • Toyota Motor Corporation

List of Figures

• Figure 1: Global: Hydrogen Fuel Cell Vehicle Market: Major Drivers and Challenges
• Figure 2: Global: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018-2023
• Figure 3: Global: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 4: Global: Hydrogen Fuel Cell Vehicle Market: Breakup by Technology (in %), 2023
• Figure 5: Global: Hydrogen Fuel Cell Vehicle Market: Breakup by Vehicle Type (in %), 2023
• Figure 6: Global: Hydrogen Fuel Cell Vehicle Market: Breakup by Region (in %), 2023
• Figure 7: Global: Hydrogen Fuel Cell Vehicle (Proton Exchange Membrane Fuel Cell) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 8: Global: Hydrogen Fuel Cell Vehicle (Proton Exchange Membrane Fuel Cell) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 9: Global: Hydrogen Fuel Cell Vehicle (Phosphoric Acid Fuel Cell) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 10: Global: Hydrogen Fuel Cell Vehicle (Phosphoric Acid Fuel Cell) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 11: Global: Hydrogen Fuel Cell Vehicle (Other Technologies) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 12: Global: Hydrogen Fuel Cell Vehicle (Other Technologies) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 13: Global: Hydrogen Fuel Cell Vehicle (Passenger Vehicle) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 14: Global: Hydrogen Fuel Cell Vehicle (Passenger Vehicle) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 15: Global: Hydrogen Fuel Cell Vehicle (Commercial Vehicle) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 16: Global: Hydrogen Fuel Cell Vehicle (Commercial Vehicle) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 17: North America: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 18: North America: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 19: United States: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 20: United States: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 21: Canada: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 22: Canada: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 23: Asia-Pacific: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 24: Asia-Pacific: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 25: China: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 26: China: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 27: Japan: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 28: Japan: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 29: India: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 30: India: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 31: South Korea: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 32: South Korea: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 33: Australia: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 34: Australia: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 35: Indonesia: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 36: Indonesia: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 37: Others: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 38: Others: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 39: Europe: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 40: Europe: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 41: Germany: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 42: Germany: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 43: France: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 44: France: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 45: United Kingdom: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 46: United Kingdom: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 47: Italy: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 48: Italy: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 49: Spain: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 50: Spain: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 51: Russia: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 52: Russia: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 53: Others: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 54: Others: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 55: Latin America: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 56: Latin America: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 57: Brazil: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 58: Brazil: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 59: Mexico: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 60: Mexico: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 61: Others: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 62: Others: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 63: Middle East and Africa: Hydrogen Fuel Cell Vehicle Market: Sales Value (in Million US$), 2018 & 2023
• Figure 64: Middle East and Africa: Hydrogen Fuel Cell Vehicle Market: Breakup by Country (in %), 2023
• Figure 65: Middle East and Africa: Hydrogen Fuel Cell Vehicle Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 66: Global: Hydrogen Fuel Cell Vehicle Industry: SWOT Analysis
• Figure 67: Global: Hydrogen Fuel Cell Vehicle Industry: Value Chain Analysis
• Figure 68: Global: Hydrogen Fuel Cell Vehicle Industry: Porter's Five Forces Analysis

List of Tables

• Table 1: Global: Hydrogen Fuel Cell Vehicle Market: Key Industry Highlights, 2023 and 2032
• Table 2: Global: Hydrogen Fuel Cell Vehicle Market Forecast: Breakup by Technology (in Million US$), 2024-2032
• Table 3: Global: Hydrogen Fuel Cell Vehicle Market Forecast: Breakup by Vehicle Type (in Million US$), 2024-2032
• Table 4: Global: Hydrogen Fuel Cell Vehicle Market Forecast: Breakup by Region (in Million US$), 2024-2032
• Table 5: Global: Hydrogen Fuel Cell Vehicle Market: Competitive Structure
• Table 6: Global: Hydrogen Fuel Cell Vehicle Market: Key Players

The global hydrogen fuel cell vehicle market size reached US$ 1,641.0 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 37,320.9 Million by 2032, exhibiting a growth rate (CAGR) of 40.67% during 2024-2032. The increasing research funding, the rising partnerships with industry giants, the growing commercial fleet adoption, the escalating oil prices, the increasing need for cleaner transportation solutions, and the swift energy transition are some of the factors propelling the market.

Hydrogen fuel cell vehicles (FCVs) are electric vehicles (EVs) that utilize an electric motor for propulsion instead of the conventional internal combustion engine. These innovative automobiles consist of various components that work in tandem to achieve efficient functionality. Among these parts are the battery and battery pack, the direct current (DC) converter, the electric traction motor, the fuel cell stack, the fuel filler, the fuel tank, the power electronics controller, the thermal system, and the transmission system. Unlike traditional vehicles that rely on fossil fuels, FCVs operate by harnessing the potential of hydrogen (H2) gas from the vehicle's fuel tank and combining it with oxygen (O2) from the surrounding air. This chemical reaction results in the generation of electricity, which in turn powers the electric motor. An intriguing outcome of this process is producing water and heat as environmentally friendly byproducts. This revolutionary technology presents a promising pathway toward reducing our dependence on fossil fuels and minimizing the ecological footprint of transportation. With ongoing research and development, hydrogen fuel cell vehicles could significantly shape a greener automotive future.

The global market is majorly driven by the increasing awareness of environmental issues. In line with this, these vehicles emit only water vapor and heat, making them an attractive option for reducing greenhouse gas emissions. Various governments offer incentives such as tax breaks and subsidies to promote the adoption of hydrogen fuel cell vehicles. Furthermore, the strict regulations on vehicle emissions are pushing manufacturers to explore cleaner alternatives like hydrogen fuel cells. The ongoing research and development are leading to improvements in fuel cell efficiency, durability, and cost-effectiveness, catalyzing the market. Moreover, the growing investment in hydrogen refueling infrastructure makes it more convenient for consumers to adopt these vehicles, propelling the market. Besides, hydrogen fuel cells find use beyond transportation, including in industrial machinery and backup power systems. Collaborations between governments, automakers, and energy companies are accelerating the development and adoption of hydrogen technology. Additionally, some consumers are attracted to the unique driving experience and advanced technology offered by hydrogen fuel cell vehicles, stimulating their demand.

Hydrogen Fuel Cell Vehicle Market Trends/Drivers:

Increasing awareness among the masses about the benefits of using hydrogen FCVs

The escalating awareness among the general populace about the manifold advantages presented by hydrogen fuel cell vehicles (FCVs) is bolstering the market. As information spreads about the environmental merits of FCVs, including their capacity to curtail emissions and mitigate air pollution, consumers are increasingly drawn towards these innovative vehicles. Moreover, as individuals become more conscious of the long driving ranges and rapid refueling capabilities of hydrogen FCVs, their perception of these vehicles as viable alternatives to traditional gasoline-powered cars is solidifying. This enhanced awareness prompts greater demand for hydrogen FCVs, encouraging automakers to invest in research and development to meet this interest. The positive word-of-mouth endorsements and educational campaigns highlighting hydrogen FCVs' economic and environmental benefits are significantly driving market growth and steering the automotive industry toward a greener and more sustainable future.

Development of hydrogen fuel cell infrastructure worldwide

The global development of hydrogen fuel cell infrastructure is gaining momentum, playing a pivotal role in shaping the future of clean and sustainable transportation. Nations worldwide recognize the potential of hydrogen fuel cells as a viable solution to reduce carbon emissions and achieve energy diversification. Governments, in collaboration with private sector stakeholders, are investing in the establishment of hydrogen refueling stations, an essential component for the widespread adoption of hydrogen fuel cell vehicles (FCVs). This infrastructure rollout is driven by environmental concerns, stringent emission regulations, and a desire to reduce reliance on fossil fuels. Regions like Europe, Japan, and parts of North America have been at the forefront of hydrogen infrastructure development, investing in a network of refueling stations to support FCV adoption. These efforts include research projects, policy incentives, and partnerships with automakers and energy companies to accelerate the deployment of hydrogen refueling infrastructure. As the infrastructure grows, it addresses one of the key barriers to FCV adoption by providing consumers with convenient refueling options. This, in turn, encourages automakers to produce more hydrogen-powered vehicles, creating a positive feedback loop that propels the market forward. The expansion of hydrogen fuel cell infrastructure isn't limited to passenger vehicles; it extends to applications in public transportation, commercial fleets, and even heavy-duty vehicles. These developments signify a collective commitment to reducing carbon emissions and embracing sustainable transportation alternatives. As governments and industries continue to collaborate and invest in hydrogen infrastructure, the foundation for a cleaner, hydrogen-powered mobility ecosystem is being solidified globally.

Depleting fossil fuel reserves

The depletion of fossil fuel reserves is a pressing concern that has far-reaching implications for global energy security, economic stability, and environmental sustainability. As the finite nature of fossil fuels becomes increasingly apparent, the urgency to transition towards alternative energy sources intensifies. This depletion has accelerated a shift towards renewable and cleaner energy options, including solar, wind, hydroelectric, and nuclear power, and the development of technologies like hydrogen fuel cells. The uncertainty surrounding future fossil fuel availability has prompted governments, industries, and researchers to explore these alternatives to ensure a reliable and sustainable energy future. While the depletion of fossil fuels presents challenges, it also offers an opportunity to mitigate climate change and reduce greenhouse gas emissions. The transition from fossil fuels aligns with global efforts to limit temperature rise and achieve carbon neutrality. However, this transition requires significant investments in research, infrastructure, and policy frameworks to support the scaling up renewable and low-carbon technologies. Addressing the depletion of fossil fuel reserves demands a comprehensive approach that embraces innovation, collaboration, and forward-thinking policies. By doing so, societies can navigate the challenges of declining fossil fuel resources while embracing the benefits of cleaner, more sustainable energy systems.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global hydrogen fuel cell vehicle market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on technology and vehicle type.

Breakup by Technology:

Proton Exchange Membrane Fuel Cell

Phosphoric Acid Fuel Cell

Others

Proton Exchange Membrane Fuel Cell dominates the market

The report has provided a detailed breakup and analysis of the market based on the technology. This includes proton exchange membrane fuel cell, phosphoric acid fuel cell, and others. According to the report, proton exchange membrane fuel cell represented the largest segment.

PEMFCs are highly regarded for their efficiency, rapid start-up times, and suitability for various vehicle types, making them a preferred choice for FCVs. The emphasis on advancing PEMFC technology has improved performance, durability, and cost-effectiveness, ultimately boosting consumer confidence and adoption. As these fuel cells become more reliable and economically viable, they contribute to the overall expansion of the FCV market.

On the other hand, PAFCs exhibit exceptional performance in stationary applications, such as power generation. Although less common in FCVs due to their relatively lower power density and slower start-up times, PAFCs play a crucial role in showcasing fuel cell technology's versatility beyond transportation. The development of PAFCs in stationary power applications contributes to research insights and bolsters the reputation of fuel cell technology as a whole.

The strategic attention given to both PEMFCs and PAFCs diversifies the application landscape of fuel cell technology, attracting investments and research efforts from various sectors. This, in turn, stimulates innovation, reduces costs, and strengthens the entire FCV market ecosystem. By addressing different aspects of the technology, the market segmentation amplifies its growth potential, driving advancements that cater to a range of consumer needs and industrial demands.

Breakup by Vehicle Type:

Passenger Vehicle

Commercial Vehicle

Passenger vehicle dominates the market

The report has provided a detailed breakup and analysis of the market based on the vehicle type. This includes passenger and commercial vehicle. According to the report, passenger vehicles represented the largest segment.

The focus on passenger vehicles, such as sedans and SUVs powered by hydrogen fuel cells, reflects the industry's commitment to offering eco-friendly alternatives to traditional internal combustion engine cars. These vehicles target environmentally conscious consumers seeking zero-emission options for daily transportation. Manufacturers are accelerating consumer acceptance and adoption by investing in research and development to enhance the performance, range, and affordability of hydrogen-powered passenger vehicles. The growth of the passenger vehicle segment contributes to reducing carbon emissions and expands the market reach of FCVs.

On the contrary, commercial vehicles, including buses, trucks, and vans, within the FCV market segment are significant for several reasons. Commercial vehicles, especially those with demanding operational requirements, can benefit from hydrogen fuel cells' long driving ranges and rapid refueling capabilities. The adoption of hydrogen-powered commercial vehicles aligns with sustainable transportation goals and emissions reduction targets. Additionally, commercial fleets transitioning to FCVs can substantially impact emissions reduction due to their higher mileage and larger fuel consumption. The growth of FCVs in the commercial vehicle segment encourages the development of robust refueling infrastructure tailored to fleet needs, further bolstering the overall hydrogen ecosystem.

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

North America exhibits a clear dominance, accounting for the largest market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

The North American region, encompassing countries like the United States and Canada, holds a pivotal position in shaping the trajectory of the FCV market. In this region, stringent emission regulations and a growing emphasis on reducing carbon footprints have spurred interest in alternative fuel technologies. Government initiatives, such as incentives, grants, and research funding, foster a supportive FCV development and adoption environment.

Key automakers and technology companies in North America are investing in research and development to advance FCV technology, with an eye on improving performance, driving range, and cost-effectiveness. Collaborations between automakers, energy companies, and research institutions drive innovation and accelerate market growth. Furthermore, the development of hydrogen refueling infrastructure in North America is a crucial factor. Expanding the network of refueling stations across major cities and highways enhances consumer confidence in FCVs and encourages their adoption.

The region's commitment to reducing greenhouse gas emissions and embracing sustainable transportation options positions it as a hub for FCV market expansion. As public awareness grows and infrastructure continues to develop, the region is poised to contribute significantly to the global effort to achieve cleaner and more sustainable mobility solutions through hydrogen fuel cell technology.

Competitive Landscape:

Top companies are strengthening the market through innovation, strategic partnerships, and expansion. Through continuous research and development, these companies enhance FCV efficiency, durability, and affordability, making them more attractive to a broader range of consumers. Their commitment to addressing infrastructure challenges by collaborating with energy companies and governments to expand the hydrogen refueling network fosters a supportive ecosystem for FCV adoption. Moreover, strategic partnerships with industrial giants, energy firms, and technology providers are accelerating the production and commercialization of FCVs. By investing in manufacturing capacity and establishing global distribution networks, these companies ensure that FCVs become more accessible to consumers worldwide. The efforts of these top FCV companies are shaping the industry's present and influencing its trajectory toward a sustainable and greener automotive future.

The report has provided a comprehensive analysis of the competitive landscape in the hydrogen fuel cell vehicle market. Detailed profiles of all major companies have also been provided.

Ballard Power Systems Inc.

Bayerische Motoren Werke AG

Cummins Inc.

General Motors Company

Hyundai Motor Company

Toyota Motor Corporation

Recent Developments:

In 2023, Toyota Motor announced that it is shifting its focus to selling hydrogen-powered trucks and cars in Europe and China, with the goal of selling 200,000 of these vehicles by 2030. The company aims to bring down costs by concentrating on regions with higher hydrogen production and demand.

Ballard Power Systems announced in August 2023 that it has received multiple purchase orders for 96 hydrogen fuel cell engines from Solaris Bus & Coach, a leading European bus manufacturer. The orders include the largest single order to date, with 52 fuel cell engines being used to power Solaris Urbino hydrogen buses for deployment in Germany. The rest of the engines will be used in Solaris buses in various European cities.

Key Questions Answered in This Report

• 1. What was the size of the global hydrogen fuel cell vehicle market in 2023?
• 2. What is the expected growth rate of the global hydrogen fuel cell vehicle market during 2024-2032?
• 3. What are the key factors driving the global hydrogen fuel cell vehicle market?
• 4. What has been the impact of COVID-19 on the global hydrogen fuel cell vehicle market?
• 5. What is the breakup of the global hydrogen fuel cell vehicle market based on the technology?
• 6. What is the breakup of the global hydrogen fuel cell vehicle market based on the vehicle type?
• 7. What are the key regions in the global hydrogen fuel cell vehicle market?
• 8. Who are the key players/companies in the global hydrogen fuel cell vehicle market?

Table of Contents

1 Preface

2 Scope and Methodology

• 2.1 Objectives of the Study
• 2.2 Stakeholders
• 2.3 Data Sources
  • 2.3.1 Primary Sources
  • 2.3.2 Secondary Sources
• 2.4 Market Estimation
  • 2.4.1 Bottom-Up Approach
  • 2.4.2 Top-Down Approach
• 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

• 4.1 Overview
• 4.2 Key Industry Trends

5 Global Hydrogen Fuel Cell Vehicle Market

• 5.1 Market Overview
• 5.2 Market Performance
• 5.3 Impact of COVID-19
• 5.4 Market Forecast

6 Market Breakup by Technology

• 6.1 Proton Exchange Membrane Fuel Cell
  • 6.1.1 Market Trends
  • 6.1.2 Market Forecast
• 6.2 Phosphoric Acid Fuel Cell
  • 6.2.1 Market Trends
  • 6.2.2 Market Forecast
• 6.3 Others
  • 6.3.1 Market Trends
  • 6.3.2 Market Forecast

7 Market Breakup by Vehicle Type

• 7.1 Passenger Vehicle
  • 7.1.1 Market Trends
  • 7.1.2 Market Forecast
• 7.2 Commercial Vehicle
  • 7.2.1 Market Trends
  • 7.2.2 Market Forecast

8 Market Breakup by Region

• 8.1 North America
  • 8.1.1 United States
    • 8.1.1.1 Market Trends
    • 8.1.1.2 Market Forecast
  • 8.1.2 Canada
    • 8.1.2.1 Market Trends
    • 8.1.2.2 Market Forecast
• 8.2 Asia-Pacific
  • 8.2.1 China
    • 8.2.1.1 Market Trends
    • 8.2.1.2 Market Forecast
  • 8.2.2 Japan
    • 8.2.2.1 Market Trends
    • 8.2.2.2 Market Forecast
  • 8.2.3 India
    • 8.2.3.1 Market Trends
    • 8.2.3.2 Market Forecast
  • 8.2.4 South Korea
    • 8.2.4.1 Market Trends
    • 8.2.4.2 Market Forecast
  • 8.2.5 Australia
    • 8.2.5.1 Market Trends
    • 8.2.5.2 Market Forecast
  • 8.2.6 Indonesia
    • 8.2.6.1 Market Trends
    • 8.2.6.2 Market Forecast
  • 8.2.7 Others
    • 8.2.7.1 Market Trends
    • 8.2.7.2 Market Forecast
• 8.3 Europe
  • 8.3.1 Germany
    • 8.3.1.1 Market Trends
    • 8.3.1.2 Market Forecast
  • 8.3.2 France
    • 8.3.2.1 Market Trends
    • 8.3.2.2 Market Forecast
  • 8.3.3 United Kingdom
    • 8.3.3.1 Market Trends
    • 8.3.3.2 Market Forecast
  • 8.3.4 Italy
    • 8.3.4.1 Market Trends
    • 8.3.4.2 Market Forecast
  • 8.3.5 Spain
    • 8.3.5.1 Market Trends
    • 8.3.5.2 Market Forecast
  • 8.3.6 Russia
    • 8.3.6.1 Market Trends
    • 8.3.6.2 Market Forecast
  • 8.3.7 Others
    • 8.3.7.1 Market Trends
    • 8.3.7.2 Market Forecast
• 8.4 Latin America
  • 8.4.1 Brazil
    • 8.4.1.1 Market Trends
    • 8.4.1.2 Market Forecast
  • 8.4.2 Mexico
    • 8.4.2.1 Market Trends
    • 8.4.2.2 Market Forecast
  • 8.4.3 Others
    • 8.4.3.1 Market Trends
    • 8.4.3.2 Market Forecast
• 8.5 Middle East and Africa
  • 8.5.1 Market Trends
  • 8.5.2 Market Breakup by Country
  • 8.5.3 Market Forecast

9 SWOT Analysis

• 9.1 Overview
• 9.2 Strengths
• 9.3 Weaknesses
• 9.4 Opportunities
• 9.5 Threats

10 Value Chain Analysis

11 Porters Five Forces Analysis

• 11.1 Overview
• 11.2 Bargaining Power of Buyers
• 11.3 Bargaining Power of Suppliers
• 11.4 Degree of Competition
• 11.5 Threat of New Entrants
• 11.6 Threat of Substitutes

12 Price Analysis

13 Competitive Landscape

• 13.1 Market Structure
• 13.2 Key Players
• 13.3 Profiles of Key Players
  • 13.3.1 Ballard Power Systems Inc.
    • 13.3.1.1 Company Overview
    • 13.3.1.2 Product Portfolio
    • 13.3.1.3 Financials
    • 13.3.1.4 SWOT Analysis
  • 13.3.2 Bayerische Motoren Werke AG
    • 13.3.2.1 Company Overview
    • 13.3.2.2 Product Portfolio
    • 13.3.2.3 Financials
    • 13.3.2.4 SWOT Analysis
  • 13.3.3 Cummins Inc.
    • 13.3.3.1 Company Overview
    • 13.3.3.2 Product Portfolio
    • 13.3.3.3 Financials
    • 13.3.3.4 SWOT Analysis
  • 13.3.4 General Motors Company
    • 13.3.4.1 Company Overview
    • 13.3.4.2 Product Portfolio
    • 13.3.4.3 Financials
    • 13.3.4.4 SWOT Analysis
  • 13.3.5 Hyundai Motor Company
    • 13.3.5.1 Company Overview
    • 13.3.5.2 Product Portfolio
    • 13.3.5.3 Financials
    • 13.3.5.4 SWOT Analysis
  • 13.3.6 Toyota Motor Corporation
    • 13.3.6.1 Company Overview
    • 13.3.6.2 Product Portfolio
    • 13.3.6.3 Financials
    • 13.3.6.4 SWOT Analysis