The global fuel cell electric vehicle market is anticipated to grow at a considerable CAGR of 2.9% during the forecast period (2023-2029). Some of the primary factors that are fueling the fuel cell vehicle market is the enthusiasm of market players to participate in the competition with their new launches. There are five most exciting fuel cell electric vehicles among the others in the line to be launched in coming next fuve years.
- BMW iX5- BMW iX5 is a hydrogen fuel cell electric vehicle with Toyota’s co-developed powertrain. It claims to deliver up to 125 kW (170 PS/168 hp) electrical output. The car is reported to have 311 miles range. It is expected to be launched in 2022.
2.Next-gen Honda Clarity FCV- After the succession of the Honda Clarity Fuel Cell Vehicle, the company confirmed the launch of the Next-gen Honda Clarity FCV in 2023.
- Ineos Grenadier Hydrogen FCEV- In November 2020, Ineos Automotive partnered with Hyundai motors to develop and test Ineos Grenadier’s hydrogen fuel cell variant. Furthermore, the company also partnered with powertrain specialist AVL. On and off-road testing is anticipated to commence by the end of 2022.
- Hyundai Nexo- After the succession of Hyundai Nexo, Hyundai is planning to launch the Next-gen of Nexo in 2023. As per Euisun Chung, President, Hyundai Motor Group, the company is planning to extend the range up to 497 miles.
- Land Rover Defender Fuel Cell Vehicle- The British automaker, Jaguar Land Rover, planning to launch a hydrogen fuel cell version of Defender. The company was to begin its prototype testing towards the end of 2021. It is anticipated to be launched soon.
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Market Coverage
- The market number available for – 2022-2029
- Base year- 2022
- Forecast period- 2023-2029
Segment Covered-
- By Vehicle Type
- By Fuel Cell type
- By Range
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– including BMW AG, DAIMLER AG, General Motors Co., Honda Motor Co., Toyota Motor Corp., and others.
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Global Fuel Cell Electric Vehicle Market Segmentation
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
Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
Company Profiles
- TheVolvo Group
- AUDI AG
- Beijing Automobile Group Co., Ltd.
- Beijing SinoHytec Co., Ltd.
- China FAW Group Co.,Ltd.
- Dongfeng Motor Group Co., Ltd.
- GAC MOTOR
- Hyundai Motor Co.
- INEOS Automotive Ltd.
- Jaguar Land Rover
- MAN
- Mazda Motor Corp.
- Mitsubishi Fuso Truck and Bus Corp.
- Nikola Corp.
- Nissan Corp.
- SAIC Motor Corp. Ltd.
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