Global Hydrogen Powered Transport Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
22 Feb, 2021
The hydrogen-powered transport market consists of the sales of hydrogen powered transport services and related goods by entities (organizations, sole traders and partnerships) that are engaged in the manufacturing of electric vehicles. Only goods and services traded between entities or sold to end consumers are included. The hydrogen powered transport market covered in the report is segmented by fuel cell technology type into proton exchange membrane fuel cells, phosphoric acid fuel cells, others; by vehicle type into cars, buses, trucks, others; by end use into passenger vehicle, commercial vehicle.
Global Hydrogen Powered Transport Market Size And Drivers:
The global hydrogen powered transport market is expected to grow from $2.09 billion in 2020 to $3.27 billion in 2021 at a compound annual growth rate (CAGR) of 56.3%. The market is expected to reach $20.04 billion in 2025 at a CAGR of 58%. An increase in government initiatives for the development of hydrogen fuel cell infrastructure is contributing to the growth of the hydrogen-powered transport market.
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Trends In The Global Hydrogen Powered Transport Market
The launch of a prototype of a hydrogen fuel cell forklift is gaining popularity in the hydrogen-powered transport market. Major players operating in the industry are continuously focusing on introducing innovations and technologies to better serve the needs of consumers.
Global Hydrogen Powered Transport Market Segments:
The global hydrogen powered transport market is further segmented based on fuel cell technology type, vehicle type, end use and geography.
By Fuel Cell Technology Type:Proton Exchange Membrane Fuel Cells, Phosphoric Acid Fuel Cells, Others.
By Vehicle Type:Cars, Buses, Trucks, Others.
By End Use:Passenger Vehicle, Commercial Vehicle.
By Geography:The global hydrogen powered transport market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions,North America is the largest region in the global hydrogen powered transport market.
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Hydrogen Powered Transport Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides hydrogen powered transport market overviews, analyzes and forecasts market size and growth for the global hydrogen powered transport market, hydrogen powered transport market share, hydrogen powered transport market players, hydrogen powered transport market segments and geographies, hydrogen powered transport market’s leading competitors’ revenues, profiles and market shares. The hydrogen powered transport market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.