The transportation sector accounts for 23% of global GHG emissions, with 20.5 Gt CO2 in 1990 increasing to 33 Gt CO2 in 2021. The entire world is focusing on replacing traditional ICE vehicles with electrified vehicles. One of the emerging technologies is fuel cell. Even if their production is not necessarily carbon-free, hydrogen fuel cells emit no CO2 during operation. It has advantages such as quick refueling, environmental friendliness, long ranges, and efficient operation.
Every country is planning to electrify vehicles due to the significant GHG emissions from the transportation sector, and hydrogen-powered fuel cell electric vehicles (FCEVs) are another viable option. FCEVs emit no greenhouse gases (GHGs), can be refueled in minutes, are more environmentally friendly, and a fuel-cell-powered powertrain will be lighter and have a sufficient range. These are typically 40%-60% efficient in terms of energy efficiency.
Among the eighteen countries, China, the United States, South Korea, Canada, and Japan have major medium and long-term plans for hydrogen vehicle development, including government and OEM targets, incentives and policies, and major key players.
From 2022 to 2030, China's hydrogen fuel cell electric market will grow at a CAGR of 57.3%, while Japan's will grow at a CAGR of 64.3%, South Korea at 62.9%, Canada at 132.2% and the United States at 60.7%.
The major OEMs in the FCEV market are Daimler, Hyundai, Hyzon, Solaris, and Toyota.
ISO 23273 is the Hydrogen Vehicle Safety Standard, and other ISO Hydrogen Vehicle Tanks and Fueling Station Standards, as well as major SAE Standards on Hydrogen Vehicles and Refueling Infrastructure, are also documented. This service, on the other hand, includes major Chinese National Standards, North American Standards, and Other National Standards of Hydrogen Fueling.
This research service provides the fuel cell electric vehicle market dynamics of eighteen countries:
- Market sizing from 2021-2030
- National hydrogen strategy
- National hydrogen targets for hydrogen refueling station.
- Key market players
- Competitive landscape
- Hydrogen global fueling standards along with Chinese national standards, North American standards.
- Few important parameters are considered when sizing the fuel cell electric vehicles market, including country targets, subsidies and incentives, OEM targets, current deployments, refueling stations/road maps, and fleet operator targets.
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Table of Contents
1. Executive Summary
Companies Mentioned
- Daimler
- Hyundai
- Hyzon
- Solaris
- Toyota
