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Hydrogen Vehicle
Hydrogen Vehicle Market is developing rapidly with Volvo and Daimler launching a joint venture to develop hydrogen-based fuel cell technology to power vehicles
#3200,SEATTLE, WASHINGTION , UNITED STATES, December 17, 2021 /EINPresswire.com / -- United States/WA: A hydrogen vehicle is just a type of alternative power vehicle that runs on hydrogen fuel rather than gasoline. Hydrogen vehicles include hydrogen-powered space shuttles, automobiles, and other modes of transportation. This alternative energy source has been around for a long time. Numerous reports have revealed that there is a lot of promise in utilizing hydrogen. When it comes to geographical effect, Asia Pacific appears to have a bright future in the hydrogen car market. This is due to the increasing use of hydrogen fuel cells and the fast industrialization of emerging economies like China and India. On the contrary, Europe is gaining traction as regional governments impose severe carbon emissions legislation.
The hydrogen fuel cell technology has improved over the years with the advent of different technological advancements. Key hydrogen fuel firms are focusing on continual research and development activities in order to develop novel technologies in hydrogen fuel cells. As a result, these variables have the potential to boost the growth of the hydrogen vehicle industry in the near future. Volvo and Daimler have announced a joint venture to develop hydrogen-based fuel cell technology to power heavy freight vehicles in April 2021.
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Over the years, governments of many countries have started investing in the development of hydrogen fuel cell infrastructure. Recently, in May 2021, the Government of Germany announced to launch of 62 large-scale hydrogen projects as part of a joint European hydrogen project. Since hydrogen vehicles are highly efficient as compared to conventional gasoline-powered cars, government authorities are focused on developing such infrastructures, in order to reduce carbon footprint. Hence, such factors can stimulate growth of the hydrogen vehicle market.
The Study Include Key Companies:
‣ Toyota Motor Corporation,
‣ Hyundai Motor Company,
‣ Honda Motor Co. Ltd.,
‣ Daimler AG.,
‣ Audi,
‣ BMW,
‣ General Motors,
‣ MAN,
‣ Ford Motor Company,
‣ VOLVO.
Global Hydrogen Vehicle Market: Key Developments
➡ In January 2018, Hyundai Motor Company, South Korean multinational automotive manufacturer, announced the launch of its hydrogen-powered SUV“Hyundai Nexo” which will deliver 800-km drive range at Consumer Electronics Show (CES) 2019 in Las Vegas, Nevada.
➡ In April 2019, Hydrogen Denmark, Danish industry association, announced a launch of eight new fuel cell electric vehicle (FCEV) taxis,“Toyota Mirai taxis” which will transport passengers sustainably around the Copenhagen area.
➡ In April 2019, Robert Bosch GmbH, German-based multinational engineering, and Technology Company and Powercell Sweden AB, a subsidiary of carmaker Volvo, has signed an agreement to jointly mass-produce hydrogen fuel cells for the automotive segment. According to this agreement, these companies will make polymer-electrolyte membrane (PEM) fuel cells under the agreement for mass production.
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There have been many claims that the Hydrogen Vehicle will revolutionize transportation. Hydrogen-fueled cars will be able to cut down emissions that contribute to global warming. Furthermore, there are plans to build Hydrogen fueled buses and even trains. Hydrogen can also power vehicles and even tailpipe emissions. Hydrogen is believed to have similar attributes to fossil fuels like gasoline and diesel. Regardless of these factors, there are certain aspects that can potentially limit the development of the market. For instance, high costs associated with raw materials such as platinum in the fuel cell anode and carbon fiber to produce hydrogen fuel tanks, which impedes growth of the hydrogen vehicle market in the near future.
The Coherent Market Insights report shows a qualitative and quantitative research study on a Hydrogen Vehicle Market Perspective that includes substantial in-depth information on numerous elements. The Hydrogen Vehicle Market research study includes a complete overview of the business scope, growth margins, important factors, kinds, applications, company ups and downs, newest trends, updates, technology, innovation, and a focus on SWOT analysis from 2021 to 2027.
Purchasing the Report: Know Why:-
¤ The Hydrogen Vehicle market study is a detailed examination of research material tools and downstream purchasing enhancements.
¤ This research is to characterize and categorize the market in order to provide the reader with a thorough overview.
¤ Elaborate client needs reviews, obstacle analysis, and opportunity assessment are also covered.
¤ The report polls also generate the most accurate forecasts for worldwide Hydrogen Vehicle market volume and value estimation.
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Key Features of Report:-
► Market Overview, and In-depth industry analysis
► COVID-19 Pandemic Outbreak Impact Analysis Included
► Updated Research Methodology
► SWOT Analysis & Porter's Five Forces Analysis
► Graphical Representation of Size, Share & Trends
► Includes Updated List of tables & figures
► Comprehensive Mapping of the Competitive Landscape
► Updated Report Includes Top Market Players with their Business
► Strategy, Sales Volume, and Revenue Analysis
► Value Chain, Market Drivers, and Success Factors
► Facts and Factors research methodology
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