Global Hydrogen Fuel Cell Vehicle Market 2017-2021

  • Published: Feb 2017
  • Pages: 70
  • SKU: IRTNTR11887

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This market research study identifies Daimler, Honda, Hyundai, and Toyota as the leading players in the global hydrogen fuel cell vehicle market. A comprehensive analysis of this market is also presented by the vehicle type (passenger vehicles and commercial vehicles) and geography (APAC, Europe, and North America).

Overview of the global hydrogen fuel cell vehicle market

The global hydrogen fuel cell vehicle market is anticipated to grow rapidly and will post a CAGR of more than 82% during the forecast period. The development of infrastructure to produce hydrogen will drive the growth prospects for the global hydrogen fuel cell vehicle market until the end of 2021. Some of the major factors responsible for the growing use of fuel cells in fuel cell electric vehicles is the rising number of hydrogen infrastructures across the globe. Also, an increasing number of funding commitments for the commercialization and development of refueling infrastructure is resulting in the growth of hydrogen infrastructure. For instance, the state of California in the US committed funds for developing 100 hydrogen refueling stations to meet its target of 1.5 million zero-emission vehicles (ZEVs) by 2025.

The reduction in fuel cell prices will drive the growth prospects for the global hydrogen fuel cell vehicle market during the forecasted period. The fuel manufacturing companies are increasingly adopting new methodologies to reduce the price of the fuel cell. For instance, the US is increasingly investing in research and developmental activities to reduce the quantity of platinum in the fuel by using an alternative catalyst.

Competitive landscape and key vendors

The global hydrogen fuel cell vehicle market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. These vendors are increasingly focusing on offering their customers with new energy vehicles to expand their market share.

Key vendors in this market are -

  • Daimler
  • Honda
  • Hyundai
  • Toyota

Other prominent vendors in the market include Audi, Ballard Power Systems, BMW, Fuel Cell Energy, GM, Hydrogenics, MAN, and Volvo.

Segmentation by vehicle type and analysis of the hydrogen fuel cell vehicle market

  • Passenger vehicles
  • Commercial vehicles

The commercial vehicles segment is one of the fastest growing market segment and will continue to grow impressively for the next few years. One of the major factors responsible for the market segment’s growth is the research and developmental activities in terms of price reduction of fuel cell stack, aggressive partnerships, and increased number of new models from OEMs.

Segmentation by geography and analysis of the hydrogen fuel cell vehicle market

  • APAC
  • Europe
  • North America

In terms of geography, APAC accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. Some of the major factors responsible for the market’s growth in the region is the domestic presence of HFCV OEMs, low-cost new energy vehicle market, tax rebates, and aggressive hydrogen refueling stations (HRS) developments.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2021?
  • What are the key factors driving the global hydrogen fuel cell vehicle market?
  • What are the key market trends impacting the growth of the global hydrogen fuel cell vehicle market?
  • What are the challenges to market growth?
  • Who are the key vendors in the global hydrogen fuel cell vehicle market?
  • What are the market opportunities and threats faced by the vendors in the global hydrogen fuel cell vehicle market?
  • What are the trending factors influencing the market shares of APAC, Europe, and North America?
  • What are the key outcomes of the five forces analysis of the global hydrogen fuel cell vehicle market?

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Table of Contents

PART 01: Executive summary

PART 02: Scope of the report

  • Market overview
  • Report coverage
  • Top-vendor offerings

PART 03: Market research methodology

  • Research methodology
  • Economic indicators

PART 04: Introduction

  • Key market highlights
  • Value chain analysis
  • Regulatory framework

PART 05: Market landscape

  • Market overview
  • Market size and forecast
  • Five forces analysis

PART 06: Market segmentation by vehicle type

  • Market overview
  • Market size and forecast

PART 07: Geographic segmentation

  • Market overview
  • HFCV market in APAC
  • HFCV market in North America
  • HFCV market in Europe

PART 08: Market drivers

  • Reduced emission and improved fuel economy
  • Development of infrastructure to produce hydrogen
  • Incentives and investments by governments

PART 09: Market challenges

  • High initial cost compared with electric vehicles
  • Reduced HRS and high initial cost of development
  • Pollution caused during production of hydrogen

PART 10: Market trends

  • Global OEMs entering HFCV market through substantial investments
  • Advances in technology and future potential in HFCV market
  • Production of clean hydrogen fuel (green fuel)
  • Reduction in fuel cell prices

PART 11: Vendor landscape

  • Competitive benchmarking
  • Other prominent vendors

PART 12: Key vendor analysis

  • Daimler
  • Honda
  • Hyundai
  • Toyota

PART 13: Appendix

  • List of abbreviations

PART 14: Explore Technavio

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.


Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases


Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts



  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis


  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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