Sales Of Hydrogen Vehicles In The U.S To Surge At A Cagr Of Around 4% Through 2031

Automotive

Latest industry analysis by Fact MR, predicts sales of Hydrogen Vehicles to swell at propelled CAGR through 2031, as automotive sales gradually recover across the world. The report is intended at presenting insights into hidden growth opportunities and challenges. It also offers recommendations to help businesses to prep for unforeseen challenges.

The market intelligence study therefore includes demographics analysis so market players can plan their product and marketing strategy. It offers sales outlook in 20+ countries. It identifies the most lucrative segments to assist companies in creating winning strategies for future.

To remain ‘ahead’ of your competitors, request for a sample –  https://www.factmr.com/connectus/sample?flag=S&rep_id=685

The market for hydrogen vehicles will see a soaring growth, with a new forecast by Fact.MR estimating that the hydrogen vehicles industry will generate an incremental opportunity worth US$ 150 Mn across the 2021-2031 forecast period. The next big thing in improving fuel cell vehicles and trucks, as well as creating valuable products, could be the technology that generates hydrogen using regular natural gas or renewable natural gas made from biomass. Green hydrogen projects will drive market demand in the future. 

The report offers actionable and valuable market insights of Hydrogen Vehicles. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Hydrogen Vehicles Market across various industries and regions.

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Hydrogen Vehicles market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Hydrogen Vehicles

This newly published and insightful report sheds light on Market Insights of Hydrogen Vehicles, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Hydrogen Vehicles Market.

Key Segments Covered

  •  Vehicle Type

    • Passenger Hydrogen Vehicles
    • Commercial Hydrogen Vehicles
    • Heavy Commercial Hydrogen Vehicles
    • Buses & Coaches Hydrogen Vehicles
    • Trucks & Trailers Hydrogen Vehicles
  • By Technology

    • Proton Membrane Exchange Hydrogen Vehicles
    • Phosphoric Acid Fuel Cell Hydrogen Vehicles

Key Takeaways from the Market Study

  • Hydrogen powered trucks & trailers to witness burgeoning demand, expand at 3% CAGR
  • By technology, phosphoric acid fuel cell hydrogen vehicles to account for 60% of overall demand
  • Sales of hydrogen vehicles in the U.S to surge at a CAGR of around 4% through 2031
  • Asia to be the most lucrative market, accounting for 40% of the global hydrogen vehicles demand

“Although manufacturers will focus on new markets, they are committed to sustainable renewable energy without releasing harmful gases into the air,” says the Fact.MR analyst.

Competitive Landscape

Strategic collaborations enable hydrogen vehicles to increase revenue and market share. The implementation of new technologies and equipment allows manufacturers to expand their footprints in the market.

  • On 25th May 2021, Faurecia closed the merger of Chinese hydrogen tank manufacturer, CLD. Following Faurecia’s announcement of the acquisition project in February, CLD has been selected by reputable Chinese OEMs, such as SAIC, for several different commercial vehicle models.
  •  On April 22, 2021, Toyota Motor Corporation announced its goal of creating a zero-emission mobility society, as well as its hydrogen engine development program. In addition, the engine will be mounted on a Corolla Sport race car, competing under the ORC ROOKIE Racing banner starting with the NAPAC Fuji SUPER TEC24 Hours Race on May 21-23.

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