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Fuel Cell Vehicle: A Sustainable Alternative to Conventional Cars
Fuel Cell Vehicles and Their Applications Fuel cell electric vehicles (FCEVs) use a fuel cell, often with a small battery or ultracapacitor, to power an electric motor by combining oxygen from the air with pressurized hydrogen. By 2020, about 31,225 passenger FCEVs were expected worldwide, with only three main models available: Honda Clarity Fuel Cell, Toyota Mirai, and Hyundai Nexo. Fuel cell forklifts, mainly powered by PEM fuel cells, are common in manufacturing and logistics for lifting and transporting goods.
This study gives a detailed analysis of drivers, restrains, opportunities and challenges limiting the market expansion of Fuel Cell Vehicle market. The survey included a diverse set of players, including a balance of leading and growing manufacturers for business profiling, such as;
Daimler AG Hyster-Yale Materials Handling Honda Motors Co. Ltd. Plug Power Volkswagen AG Toyota Motor Corporation Nissan Motor Corporation Hyundai Motor Group Dana Limited Ballard Power System Inc. Hydrogenics Volvo AB General Motors
Our expert team is consistently working on updated data and information on the key player's related business processes that value the market for future strategies and predictions
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Market Segmentation:
Component Type Analysis
- Fuel Stacks
- Humidifiers
- Air Compressor
- Fuel Compressor
- Power Conditioners
- Others
Vehicle Type Analysis
- LCV
- HCV
- Passenger Vehicles
- Buses
- Trucks
- Forklift
- E-Bikes
- Others
Covered in this Report:
1. Go-to-market Strategy.
2. Neutral perspective on the market performance.
3. Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, QMI quadrant, and other significant analysis, as well as development status.
4. Customized regional/country reports as per request and country level analysis.
5. Potential & niche segments and regions exhibiting promising growth covered.
6.Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).
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Industry Developments:
On January 2023, Nikola Company has announced a Letter of Intent with GP JOULE, a system provider for integrated energy solutions based in Reussenkoege, Germany, for an order of 100 Class 8, heavy-duty Nikola Tre hydrogen Fuel Cell Electric Vehicles (FCEVs). Nikola Tre FCEVs in the European 622 model will be produced at a joint venture between Nikola and Iveco Group in Ulm, Germany. Thirty of the initial 100 Nikola Tre FCEVs are scheduled to arrive at GP JOULE by 2024. The remaining 70 vehicles will be delivered in 2025, with the option for GP JOULE to acquire them through GATE - Green & Advanced Transport Ecosystem, Iveco Group's all-inclusive electric truck rental model.
Regional Analysis for Fuel Cell Vehicle Market:
✫ North America: (U.S., Canada, Mexico)
✫ Europe: (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
✫ Asia-Pacific: (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
✫ South America: (Colombia, Brazil, Argentina, Rest of South America)
✫ Middle East & Africa: (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Benefits of the Report:
⏩ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.
⏩ Top-down and bottom-up approach for regional analysis
⏩ Porter’s five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.
⏩ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market
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Frequently asked questions:
➥ What is the market size of the Fuel Cell Vehicle market?
➥ What is the market growth rate of the Fuel Cell Vehicle market?
➥ What are the Fuel Cell Vehicle market opportunities and threats faced by the vendors in the global Fuel Cell Vehicle Industry?
➥ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?
➥ What focused approach and constraints are holding the Fuel Cell Vehicle market?
➥ What are the different sales, marketing, and distribution channels in the global industry?
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