The hydrogen fuel cell vehicle market is anticipated to grow at a CAGR of 19.78% from US$8,314.243 billion in 2025 to US$20,495.913 billion by 2030.
The hydrogen fuel cell vehicle market is anticipated to grow at a CAGR of 19.78% from US$8,314.243 billion in 2025 to US$20,495.913 billion by 2030.— Knowledge Sourcing Intelligence
NEW YORK, NY, UNITED STATES, March 10, 2025 /
EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the
hydrogen fuel cell vehicle market is projected to grow at a CAGR of 19.78% between 2025 and 2030 to reach US$20,495.913 billion by 2030.
The hydrogen-based fuels can play an important role in the decarbonization of sectors where emissions are hard to abate and alternative solutions are difficult to implement, such as long-distance transport. The growing regulation and adoption of renewable energy solutions created the demand for hydrogen
fuel cell vehicles. The majority of policies in place focused on supporting demand creation in transport applications, through purchase subsidies and grants. Hydrogen-powered vehicles would improve air quality and promote energy security.
In January 2024, Stellantis Pro expanded its existing hydrogen fuel cell offer with in-house production starting on mid-size and large vans in Europe. This boosted the company’s zero-emissions offerings. In October 2023, the company unveiled Stellantis’ Commercial Vehicles Business. Stellantis and its brands are leveraging a full range of advanced electrified propulsion, safety, ADAS, and connectivity technologies to provide a stress-free environment for drivers and commercial owners. The hydrogen fuel cell mid-size vans and adding fuel cell vans to their production lines would give them a significant advantage by cutting-edge hydrogen technology and make it available to customers.
Moreover, In September 2023, Tata Motors launched first-of-its-kind Hydrogen Fuel Cell powered (FCEV) buses for Indian Oil Corporation Ltd. (IOCL), the country’s largest petroleum company. It is built at a lab in Tata Motors’ R&D center at Pune, these 12-meter long buses designed for easy ingress and egress with a low-floor design, can seat 35 passengers.
In October 2024, Hyundai launched its INITIUM hydrogen fuel cell electric concept vehicle. It had a targeted driving range of over 650km with a maximum motor output of 150 kW. INITIUM offers acceleration and overtaking capability. By further developing Hyundai’s fuel cell technology the company increased the output of enhanced battery capacity, allowing for an
electric motor output of up to 150 kW.
The collaboration between the government and private players further propels the market. In December 2024, Toyota Motor Corporation (Toyota) announced that its new production plan for fuel cells and a water electrolysis system to supply hydrogen was selected by the Ministry of Economy, Trade and Industry (METI) as a successful applicant for its Support Program for Building GX Supply Chains.
Toyota works with local governments, passenger and commercial vehicle manufacturers, and customers to promote the creation of a hydrogen society and the widespread adoption of fuel cells. In this context, the company aims to establish a strong position in the commercial truck market using hydrogen in 2030. The target will be the fuel cell market in Europe and America, where demand is expected to grow, to supply 75,000 units.
Access sample report or view details:
https://www.knowledge-sourcing.com/report/hydrogen-fuel-cell-vehicle-market
Based on geography, the North American region of hydrogen fuel cell vehicle market is growing significantly. This is with supporting government policies, such as support and incentives for the manufacturing incentive for alternative fuel vehicles (AFV) for manufacturing. California Air Resources Board (CARB) established the Zero Emission Assurance Project (ZAP) to offer rebates for the replacement of a battery, fuel cell, or other related vehicle component for eligible used ZEVs and near ZEVs. These developments will promote the overall growth of the hydrogen fuel cell vehicle market.
As a part of the report, the major players operating in the Hydrogen Fuel Cell Vehicle Market that have been covered are Toyota Motor Corporation, Hyundai Motor Company, Bayerische Motoren Werke AG, Mercedes-Benz Group AG, Honda Motor Company, Nikola Corporation, TATA Motors Limited, Volvo Eicher Commercial Vehicle, ASHOK LEYLAND (Hinduja Group), and The Ford Motor Company.
The market analytics report segments the hydrogen fuel cell vehicle market as follows:
• By Vehicle Type
o Passenger Vehicle
• SUVs
Sedans
o Commercial Vehicles
• Light Duty Commercial Vehicle
• Heavy Duty Commercial Vehicle
• By Driving Range
o Up to 300 Miles
o 300 to 400 Miles
o More than 400 Miles
• By End User
o Individual
o Commercial
o Industrial
• By Geography
• North America
o USA
o Canada
o Mexico
• South America
o Brazil
o Argentina
o Others
• Europe
o UK
o Germany
o France
o Italy
o Spain
o Others
• Middle East and Africa
o Saudi Arabia
o UAE
o Isreal
o Others
• Asia Pacific
o China
o India
o Japan
o South Korea
o Taiwan
o Thailand
o Indonesia
o Others
Companies Profiled:
• Toyota Motor Corporation
• Hyundai Motor Company
• Bayerische Motoren Werke AG
• Mercedes-Benz Group AG
• Honda Motor Company
• Nikola Corporation
• TATA Motors Limited
• Volvo Eicher Commercial Vehicle
• ASHOK LEYLAND (Hinduja Group)
• The Ford Motor Company
Reasons for Buying this Report:-
• Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, other sub-segments.
• Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
• Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape future market developments.
• Actionable Recommendations: Utilize the insights to exercise strategic decision to uncover new business streams and revenues in a dynamic environment.
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Report Coverage:
• Historical data from 2022 to 2024 & forecast data from 2025 to 2030
• Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
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About Us
Knowledge Sourcing Intelligence (KSI) is a market research and intelligence provider that uses a combination of quantitative and qualitative research techniques to deliver comprehensive, in-depth insights to clients. Our approach to market research is centered around the concept of 'Knowledge Sourcing' - the process of gathering data and insights from multiple sources to create a comprehensive and well-rounded picture of the market. KSI's core services include market intelligence, competitive intelligence, customer intelligence, and product intelligence. KSI's approach to market research is designed to help clients make informed decisions, identify opportunities, and gain a better understanding of their target markets. By using a combination of primary and secondary research techniques, we provide clients with detailed insights into current market trends, customer profiles, competitor analysis, and product performance. KSI's market research and intelligence services enable clients to make informed decisions, develop strategic plans, and identify areas of opportunity.
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