Charleston News Online

Fuel Cell Vehicle Market Expected To Collect $1.75 Billion By The End Of 2025: Grand View Research Inc.

Fuel Cell Vehicle Market Expected To Collect $1.75 Billion By The End Of 2025: Grand View Research Inc.

June 10
09:06 2020
Fuel Cell Vehicle Market Expected To Collect $1.75 Billion By The End Of 2025: Grand View Research Inc.

Grand View Research, Inc. – Market Research And Consulting.
This rapid growth can be attributed to increase in investments by governments over the world for development and adoption of fuel cells. Fuel cell vehicles ensure emission-free operation, which will effectively reduce the carbon footprint and significantly drive product demand over the next few years.

The global fuel cell vehicles market size is expected to reach USD 1.75 billion by 2025, according to a new report by Grand View Research, Inc., registering a 33.7% CAGR during the forecast period. This rapid growth can be attributed to increase in investments by governments over the world for development and adoption of fuel cells.

Fuel cell vehicles ensure emission-free operation, which will effectively reduce the carbon footprint and significantly drive product demand over the next few years. The key factor expected to drive the industry is advancements in fuel cell technology. Ongoing advancements have helped match performance with conventional fuel vehicles, with respect to power output and user experience.

Adoption of fuel cell vehicles worldwide is expected to rise over the forecast period due to increasing awareness about reducing harmful emissions, strict environmental regulations, and growing incentives for use of clean energy.

Get Details For “Sample Report, TOC, Segmentation & methodology of Fuel Cell Vehicles Market” Click Link Below:
https://www.grandviewresearch.com/industry-analysis/fuel-cell-vehicle-market

North America fuel cell vehicles market size, 2014 - 2025 (USD Million)

Further key findings from the report suggest:

  • The global fuel cell vehicles market was valued at USD 194.5 million in 2017 and is expected to exhibit a CAGR of 33.7% over the forecast years owing to growing trend of clean energy consumption

  • Several government initiatives and programs to encourage the use of fuel cell vehicles have led to an increase in their adoption, subsequently increasing their demand over the past few years

  • North America accounted for the largest market share in 2017 and is anticipated to exhibit a CAGR of over 36.0% over the forecast period. This can be attributed to massive investments by the United States Department of Energy (DoE) in development of fuel cells and improvement of infrastructure

  • Although the Europe fuel cell vehicles market accounted for just over 3.0% of the overall market revenue in 2017, it is anticipated to be the fastest growing region with CAGR of more than 38.0% over the forecast period

  • Key market players include Toyota Motor Corporation, Honda Motor Company, Ltd., and Hyundai Motor Company. Apart from these, there are several other automobile manufacturers that are in the process of launching their fuel cell vehicles. 

Would you Like to Take a Look On “Sample Report” of Fuel Cell Vehicles Market Click the Link Below:

https://www.grandviewresearch.com/industry-analysis/fuel-cell-vehicle-market/request/rs1

Global fuel cell vehicle market volume share, by region, 2017 (%)

Have Any Query? Ask Our [email protected] https://www.grandviewresearch.com/inquiry/2565/ibb

Grand View Research has segmented the global fuel cell vehicle market on the basis of region:

Fuel Cell Vehicles Regional Outlook (Volume, Units; Revenue, USD Billion, 2014 – 2025)

  • North America

  • Europe

  • Asia Pacific

Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 126 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 4126 analysts and consultants, the company adds 121200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/fuel-cell-vehicle-market

About Author

admin

admin

Related Articles