A hydrogen fuel cell vehicle is a car that uses hydrogen to power an electric motor. This delivers all of the benefits of an electric automobile while also providing the range of a gasoline-powered vehicle.Various drivers such as an increase in environmental concerns, an increase in government initiatives for the development of hydrogen fuel cell infrastructure, rising petroleum prices, stringent government regulations regarding environmental conservation and technological advancement, and future potential are some of the key factors that are expected to drive the growth of the global market during the forecast period.
The global hydrogen fuel cell vehicle market size was valued at US$ 1.46 billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 54.3% from 2023 to 2030.
Major Players in the Hydrogen Fuel Cell Vehicle Industry:
1. Audi AG
Audi AGwas founded in 1909 and its headquarter in Ingolstadt, Germany.The company operates in 60 countries.
2. Ballard Power Systems Inc
Ballard Power Systems Inc was launch in 1997. And its headquarter - Burnaby, Canada. It operate over 40 country In 2019 — Ballard Launches Turnkey Fuel Cell Solutions to Power Commercial Unmanned Aerial Vehicles.
3. BMW Group
BMW Groupwas launch in 1916 and it’s headquarter located in Hyderabad india.it operate over 140 country .In2020 BMW and Toyota will team up to produce hydrogen fuel cell vehicles starting mid-decade, according to a report in Nikkei Asia
4. Daimler AG,
Daimler AG, was launch in 1926 and it’s headquarter located in Stuttgart, Germany.it operate over 140 country In 2019 Linde and Daimler Truck AG have signed an agreement to jointly develop the next generation of liquid-hydrogen refueling technology for fuel-cell-powered trucks.
5. General Motors Company
General Motors Company founded in 1908, with its headquarters in Detroit, Michigan, United States. .With businesses in over 8 countries. General Motors' fleet of fuel cell vehicles recently passed 3 million miles of hydrogen-powered, real-world driving
6. Honda Motor Co., Ltd
Honda Motor Co., Ltdwas launch 1948 and its headquarter Minato City, Tokyo, Japan. it operate over 165 country.in 2023 Honda has announced that it will be introducing a new hydrogen fuel cell system that it has developed in collaboration with General Motors.
7. Hyundai Motor Group
Hyundai Motor Group founded in 1967, with its headquarters in Seoul, South Korea. .With businesses in over 200 countries. In 2022 Hyundai Motor is a world leader in the development of hydrogen fuel cell technology, having opened the world's first commercial production
*Definition- Hydrogen Fuel Cell Vehicle is a car that uses hydrogen to power an electric motor. This provides all the benefits of an electric car while delivering the range of a gasoline-powered vehicle.
