Fuel Cell Electric Vehicle Market Sluggish Growth Rate Foreseen by 2023-2029

The global fuel cell electric vehicle market is anticipated to grow at a considerable CAGR of 2.9% during the forecast period (2023-2029). Some of the primary factors that are fueling the fuel cell vehicle market is the enthusiasm of market players to participate in the competition with their new launches. There are five most exciting fuel cell electric vehicles among the others in the line to be launched in coming next fuve years.

1. BMW iX5- BMW iX5 is a hydrogen fuel cell electric vehicle with Toyota’s co-developed powertrain. It claims to deliver up to 125 kW (170 PS/168 hp) electrical output. The car is reported to have 311 miles range. It is expected to be launched in 2022.  

2.Next-gen Honda Clarity FCV- After the succession of the Honda Clarity Fuel Cell Vehicle, the company confirmed the launch of the Next-gen Honda Clarity FCV in 2023. 

 3. Ineos Grenadier Hydrogen FCEV- In November 2020, Ineos Automotive partnered with Hyundai motors to develop and test Ineos Grenadier’s hydrogen fuel cell variant. Furthermore, the company also partnered with powertrain specialist AVL. On and off-road testing is anticipated to commence by the end of 2022.

 4. Hyundai Nexo- After the succession of Hyundai Nexo, Hyundai is planning to launch the Next-gen of Nexo in 2023. As per Euisun Chung, President, Hyundai Motor Group, the company is planning to extend the range up to 497 miles.

 5. Land Rover Defender Fuel Cell Vehicle- The British automaker, Jaguar Land Rover, planning to launch a hydrogen fuel cell version of Defender. The company was to begin its prototype testing towards the end of 2021. It is anticipated to be launched soon.

To Request a Sample of our Report on Fuel Cell Electric Vehicle Market:  https://www.omrglobal.com/request-sample/fuel-cell-electric-vehicle-market

Market Coverage

·        The market number available for – 2022-2029

·        Base year- 2022

·        Forecast period- 2023-2029

Segment Covered- 

·        By Vehicle Type

·        By Fuel Cell type

·        By Range

Regions Covered-

·        North America

·        Europe

·        Asia-Pacific

·        Rest of the World

Competitive Landscape- including BMW AG, DAIMLER AG, General Motors Co., Honda Motor Co., Toyota Motor Corp., and others.

A full Report of Fuel Cell Electric Vehicle Market is Available @  https://www.omrglobal.com/industry-reports/fuel-cell-electric-vehicle-market

Global Fuel Cell Electric Vehicle Market Segmentation

By Vehicle Type

·        Passenger Cars

·        Light Commercial Vehicles

·        Buses

·        Trucks

·        Trains

By Fuel Cell Type

·        Polymer Electrolyte Membrane Fuel Cell (PEMFC)

·        Phosphoric Acid Fuel Cell (PAFC)

·        Direct Methanol Fuel Cell (DMFC)

·        Solid Oxide Fuel Cell (SOFC)

·        Others (Alkaline Fuel Cell, Molten Carbonate Fuel Cell, and Reversible Fuel Cell)

 By Range

·        Short

·        Long

Regional Analysis

North America

·        United States

·        Canada

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·                  India

·                  China

·                  Japan

·                  South Korea

·                  Rest of APAC

Rest of the World

Company Profiles 

·        TheVolvo Group

·        AUDI AG

·        Beijing Automobile Group Co., Ltd.

·        Beijing SinoHytec Co., Ltd.

·        China FAW Group Co.,Ltd.

·        Dongfeng Motor Group Co., Ltd.

·        GAC MOTOR

·        Hyundai Motor Co.

·        INEOS Automotive Ltd.

·        Jaguar Land Rover

·        MAN

·        Mazda Motor Corp.

·        Mitsubishi Fuso Truck and Bus Corp.

·        Nikola Corp.

·        Nissan Corp.

·        SAIC Motor Corp. Ltd.

Reasons to buy from us –

1.  We cover more than 15 major industries, further segmented into more than 90 sectors.

2.  More than 120 countries are for analysis.

3.  Over 100+ paid data sources mined for investigation.

4.  Our expert research analysts answer all your questions before and after purchasing your report.

For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/fuel-cell-electric-vehicle-market

About Orion Market Research 

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

Email: info@omrglobal.com

Contact no:  +91 7803040404

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