Asia Pacific Drives Growth in Hydrogen Vehicles Market with Government Support and Emission Reduction Goals

DUBLIN, Sept. 8, 2023 /PRNewswire/ — The “Hydrogen Vehicles Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user and Region” report has been added to  ResearchAndMarkets.com’s offering.

Research and Markets Logo

The global hydrogen vehicles market is expected to experience substantial growth, driven by the global push for sustainable transportation solutions and the need to reduce air pollution.

Hydrogen vehicles have gained traction as a viable solution, with increasing government support across major economies and the establishment of hydrogen stations.

Key Highlights:

  1. PAFC Technology Drives Growth: The integration of phosphoric acid fuel cells (PAFC) in heavy commercial vehicles has gained traction and is expected to significantly contribute to the growth of the hydrogen vehicles market. PAFC technology offers zero emissions and economic advantages, aligning with sustainability and greenhouse gas reduction goals.
  2. Hydrogen-Powered Passenger Cars: Hydrogen-powered passenger cars continue to thrive, driven by the demand for highly efficient vehicles for short-distance travel. Their perceived benefits in terms of charging time and fuel efficiency are expected to drive growth in this segment.
  3. Asia Pacific Leads in Adoption: Developing economies in Asia Pacific, such as China and India, are witnessing a significant increase in the adoption of hydrogen vehicles as they target rapid emission reduction and sustainable transportation solutions. Government subsidies, incentives for hydrogen vehicles, and the development of fueling stations in China present substantial growth opportunities.

Notable Companies in the Market:

  • Foshan Feichi Automobile Manufacturing Co., Ltd.
  • SAIC Motor Corp. Ltd.
  • Ford
  • Stellantis N.V.
  • Sunlong Bus
  • BMW AG
  • GM Corp.
  • Daimler AG
  • Audi AG
  • Toyota Motor Corporation
  • Hyundai Motor Company
  • FuelCell Energy Inc.
  • Honda Motor Company Ltd.
  • Tata Motors

The global hydrogen vehicles market is poised for growth as governments and automakers prioritize sustainability and seek to reduce emissions. The adoption of hydrogen vehicles is expected to play a significant role in achieving these goals.

For more information about this report visit https://www.researchandmarkets.com/r/2t52v3

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets

Laura Wood, Senior Manager

[email protected] 

 

For E.S.T Office Hours Call +1-917-300-0470

For U.S./CAN Toll Free Call +1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

 

U.S. Fax: 646-607-1907

Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

 

Cision View original content:https://www.prnewswire.com/news-releases/asia-pacific-drives-growth-in-hydrogen-vehicles-market-with-government-support-and-emission-reduction-goals-301921869.html

SOURCE Research and Markets

Featured image: MegaPixl © Rochu2008

Disclaimer