Dublin, March 18, 2021 (GLOBE NEWSWIRE) -- The "Hydrogen Powered Transport Global Market Report 2021: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global hydrogen powered transport market.
This report focuses on hydrogen powered transport market which is experiencing strong growth. The report gives a guide to the hydrogen powered transport market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
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 growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $20.04 billion in 2025 at a CAGR of 58%.
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Where is the largest and fastest growing market for the hydrogen powered transport? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Hydrogen Powered Transport market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider hydrogen powered transport market, and compares it with other markets.
The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
Market segmentations break down market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
The hydrogen powered transport market section of the report gives context. It compares the hydrogen powered transport market with other segments of the hydrogen powered transport market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, hydrogen powered transport indicators comparison.
Major players in the hydrogen powered transport market are Honda, Toyota, Hyundai, BMW, General Motors, Foton, Mercedes-Benz, Volkswagen, and SAIC.
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.
North America was the largest region in the hydrogen powered transport market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The high cost of hydrogen fuel cell vehicles is expected to hamper the growth of the hydrogen-powered transport market. The costs of producing and shipping hydrogen are relatively high compared to gasoline. According to the California Fuel Cell Partnership, in 2019, fuel cell cars themselves are more expensive to purchase new, and the hydrogen fuel costs work out to roughly $5.60 a gallon. Also, according to California Hydrogen Researchers, in 2020, the configuration required for producing, transporting, and dispensing the hydrogen gas alone will cost about $10 billion. Thus, the high cost associated with hydrogen fuel cell vehicles is restricting the hydrogen-powered transport market growth during the forecast period.
In December 2018, OneH2, a USA- based hydrogen fuel company announced the acquisition of Hyster-Yale Materials Handling, Inc.'s wholly-owned subsidiary, Nuvera Fuel Cells, LLC for an undisclosed amount. The acquisition is expected to contribute substantially all of Nuvera Fuel Cells, LLC's PowerTap hydrogen generator assets, excluding related intellectual property to OneH2. Nuvera Fuel Cells, LLC is a US-based company that offers hydrogen generation appliances, proton exchange membrane fuel cell stacks, hydrogen generation, and dispensing products.
An increase in government initiatives for the development of hydrogen fuel cell infrastructure is contributed to the growth of the hydrogen-powered transport market. Several approaches have been disposed of by different governments to cater to environmental conditions. For instance, the federation of California in the U.S. committed endows for the development of 100 hydrogen refueling stations to meet its goal of 1.5 million zero-emission vehicles by 2025. Another proposal has California working with other states to correspond regulations and building codes to ease the location and construction of refueling stations for hydrogen and electric vehicles. The goal of this collective effort is to put 3.3 million ZEVs on the highways in those states by 2025 with the goals of diminishing greenhouse gas emissions, improving air quality and public health, while enhancing energy diversity, saving consumer's money, and promoting economic growth, which in turn will propel the revenues generated for the 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. For instance, in October 2020, Hyundai Mobis has developed a prototype hydrogen fuel cell forklift with Hyundai Motor Company and Hyundai Construction Equipment. The hydrogen fuel cell forklift established can lift up to five tons and can be managed continuously for five hours when its hydrogen fuel cell is fully charged. The forklift has been adapted with a hydro fuel cell system mass-produced by Hyundai Motor Group. In the process of doing so, Hyundai Mobis independently developed a fuel cell power pack optimized for hydrogen fuel cell forklifts.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Key Topics Covered:
1. Executive Summary
2. Hydrogen Powered Transport Market Characteristics
3. Hydrogen Powered Transport Market Trends and Strategies
4. Impact of COVID-19 on Hydrogen Powered Transport
5. Hydrogen Powered Transport Market Size and Growth
5.1. Global Hydrogen Powered Transport Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on the Market
5.2. Global Hydrogen Powered Transport Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Hydrogen Powered Transport Market Segmentation
6.1. Global Hydrogen Powered Transport Market, Segmentation by Fuel Cell Technology Type
6.2. Global Hydrogen Powered Transport Market, Segmentation by Vehicle Type, Historic and Forecast
6.3. Global Hydrogen Powered Transport Market, Segmentation by End Use, Historic and Forecast
7. Hydrogen Powered Transport Market Regional and Country Analysis
7.1. Global Hydrogen Powered Transport Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Hydrogen Powered Transport Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
8. Asia-Pacific Hydrogen Powered Transport Market
9. China Hydrogen Powered Transport Market
10. India Hydrogen Powered Transport Market
11. Japan Hydrogen Powered Transport Market
12. Australia Hydrogen Powered Transport Market
13. Indonesia Hydrogen Powered Transport Market
14. South Korea Hydrogen Powered Transport Market
15. Western Europe Hydrogen Powered Transport Market
16. UK Hydrogen Powered Transport Market
17. Germany Hydrogen Powered Transport Market
18. France Hydrogen Powered Transport Market
19. Eastern Europe Hydrogen Powered Transport Market
20. Russia Hydrogen Powered Transport Market
21. North America Hydrogen Powered Transport Market
22. USA Hydrogen Powered Transport Market
23. South America Hydrogen Powered Transport Market
24. Brazil Hydrogen Powered Transport Market
25. Middle East Hydrogen Powered Transport Market
26. Africa Hydrogen Powered Transport Market
27. Hydrogen Powered Transport Market Competitive Landscape and Company Profiles
27.1. Hydrogen Powered Transport Market Competitive Landscape
27.2. Hydrogen Powered Transport Market Company Profiles
184.108.40.206. Products and Services
220.127.116.11. Financial Performance
18.104.22.168. Products and Services
22.214.171.124. Financial Performance
126.96.36.199. Products and Services
188.8.131.52. Financial Performance
184.108.40.206. Products and Services
220.127.116.11. Financial Performance
27.2.5. General Motors
18.104.22.168. Products and Services
22.214.171.124. Financial Performance
28. Key Mergers and Acquisitions in the Hydrogen Powered Transport Market
29. Hydrogen Powered Transport Market Future Outlook and Potential Analysis
30.3. Research Inquiries
30.4. About the Publisher
30.5. Copyright and Disclaimer
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