The global average price of hydrogen vehicle is anticipated to show a declining trend in the next few years, taking into consideration the global economic situation. A similar price trend was observed in the past as well.
Global Hydrogen Vehicle Market: Drivers and Restraints
Development of infrastructure required to produce hydrogen is foretold to bode well for the global hydrogen vehicle market. Other factors such as a rapid increase in the development of hydrogen refueling stations (HRS) and availability of tax rebates are expected to catapult the market growth. On the other hand, the presence of hydrogen fuel cell vehicle (HFCV) OEMs in key regions is prognosticated to positively influence the global market.
However, there are some factors expected to pose a challenge to the rise of the global market. For instance, expensive initial investment in infrastructure development is predicted to arrest the market growth of players. Nonetheless, government investments and incentives provided to encourage the adoption of hydrogen vehicle and reduce greenhouse gas emissions are anticipated to create lucrative opportunities in the global market.
Global Hydrogen Vehicle Market: Forecast by Type and Application
The global hydrogen vehicle market is segmented into commercial and passenger vehicles by type. On the basis of application, the global market is categorized into home use and commercial use.
The report comprehensively analyzes each segment of the global market in relation to critical factors such as consumption, production, share, revenue, growth rate, and price.
Global Hydrogen Vehicle Market: Forecast by Region
For global production analysis, the report covers key regions and countries, namely India, South Korea, Japan, China, Europe, the U.S., and other regions. On the other hand, it takes into account the MEA, Central and South America, Europe, Asia Pacific, and North America and some of their countries to study the global consumption of hydrogen vehicle.
Europe and the U.S. were the highlights of the global hydrogen vehicle market in 2016 as they accounted for impressive shares. Their developed markets attracted strong growth. China and other Asian markets are prophesied to show quick development of the hydrogen vehicle industry.
While the production of hydrogen vehicle is mainly concentrated in China, Korea, and Japan, China is researched to be a larger consumption market.
Global Hydrogen Vehicle Market: Key Players
The report profiles seven major manufacturers operating in the global hydrogen vehicle market: Dongfeng, FeiChi Bus, SAIC, Foton, Honda, Hyundai, and Toyota. However, there are still some more manufacturers participating in the market competition.
The global market is envisaged to exhibit a very high concentration rate as seven leading players accounted for a staggering share in 2017.
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