The global fuel cell electric vehicle market is anticipated to grow at a substantial CAGR of 2.9% during the forecast period (2023-2029). This Fuel Cell Electric Vehicle Market research report focuses more on a number of distinctive as well as foremost market sectors. It further focuses market segmentation. Industry-specific interviews are carried out with market players to foresee future business growth. Various facets of the industry are also depicted here under each industry sector. Future development visions and a wide range of subjects are covered in this Fuel Cell Electric Vehicle Market study report. All this crucial data greatly assists key players to establish their presence in the competitive market. It verifies and revalidates the knowledge provided in this global Market report. It also allows several organizations to learn more about a range of opportunities already available in the market and makes aware to firms about upcoming opportunities too. It ensures several firms to attain a long-standing business success by capturing all of the latest updates about market growth. Most important participants are able to employ such report as a great resource to attain a competitive advantage over the cut-throat market.
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The COVID-19 pandemic had adversely impacted most of the industries in the market. The pandemic led the governments to impose the lockdown which restricted the production activities including the fuel cell electric vehicles. Original Equipment Manufacturers (OEMs) and fuel cell system manufacturers, also had to face similar consequences. It caused market players a huge loss. For instance, as per the financial report of Honda group, in June 2020, sales revenue from external customers decreased by 55.1% as compared to the sales revenue from external customers from the same period of 2019. However, as the situation got normal, the Honda group witnessed significant growth. According to the financial report of Honda group on June 2021, sales revenue from external customers increased by 82.4% as compared to the sales revenue from external customers from the same period of 2020.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Fuel Cell Electric Vehicle Market Report Segment
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Buses
- Trucks
- Trains
By Fuel Cell Type
- Polymer Electrolyte Membrane Fuel Cell (PEMFC)
- Phosphoric Acid Fuel Cell (PAFC)
- Direct Methanol Fuel Cell (DMFC)
- Solid Oxide Fuel Cell (SOFC)
- Others (Alkaline Fuel Cell, Molten Carbonate Fuel Cell, and Reversible Fuel Cell)
By Range
- Short
- Long
Global Fuel Cell Electric Vehicle Market Report Segment by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global fuel cell electric vehicle market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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