Global Fuel Cell Electric Vehicles Market accounted for $1.1 Billion in 2017 and is expected to reach $1.9 Billion by 2025 growing at a CAGR of 32.3%. Several government initiatives to encourage usage of zero emission automobiles for improving the air quality, substantial number of e-bikes, increasing R&D activities and ongoing technological improvements are some factors fueling the market growth.
Worldwide expanding contamination levels has driven a few government bodies to take activities to energize utilization of zero outflow vehicles for enhancing the air quality. For example, Federal Fuel Economy Standards advances use of zero discharge autos which needs car maker's help to deliver and move hydrogen controlled vehicles. Government and producers support experiencing significant change to exchange fuel cars will contribute in the power module electric vehicle showcase measure from 2017 to 2025.
PCVs section is foreseen to outperform USD 25 million in the business over the anticipated time range because of increment in assembling of these cars over the globe. Rising government ventures is boosting the portion request. For example, State of California has submitted USD 20 million financing for every year until 100 stations are set up for open use. In addition, the U.S. is trying to set up the foundation across the nation through H2USA open private organization alongside private automakers support in this undertaking.
HCVs is required to hold over 15% income share by 2025. Real undertakings including hydrogen innovations in substantial cars will demonstrate massive potential in income age. More prominent car productivity and accessibility of open foundation to these transportation means will upgrade the business measure. This cutting edge innovation may end up being a key for longer separation obligation cycles.
Fuel Cell Electric Vehicles Segmentation
• Rest of Europe
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa