Fuel Cell Electric Vehicle (FCEV) Market Size, Outlook, Insights Forecast & Analysis 2030

The Global Fuel Cell Electric Vehicle (FCEV) Market was valued at USD 1,123.5 million in 2020 and is anticipated to reach USD XX.X million by 2030 at a CAGR of 40.7% from 2021 to 2030. In terms of volume, the global fuel cell electric vehicle (FCEV) market was XX thousand units in 2020 and is anticipated to reach XX thousand units by 2030, at a CAGR of XX.X% during the forecast period.

The major factors that are contributing to the growth of the global fuel cell electric vehicle (FCEV) market are increasing concern about vehicle combustion related pollution, stringent government norms and regulations, advancement of automotive transmission, popularity of alternate fuel sourced vehicles, government initiatives towards green technology and development of refueling infrastructures.

Major Companies: In this report, the following major companies are studied – Hyundai Motor Company, Nikola Corporation, Ballard Power Systems Inc., Nuvera Fuel Cells, LLC, Meritor, Inc., US Hybrid corporation, Hydrogenics, Dana Incorporated, Plug Power, Inc., Ceres Power Holdings Plc, Shanghai Shenli Technology Co. Ltd., Toyota Motor Corporation, Honda Motor Co. Ltd., SAIC Motor Corporation Limited, Volkswagen AG, and Proton Power Systems PLC, among others.

Quince Market Insights foresees global fuel cell electric vehicle (FCEV) market to be a very promising transportation sector in the world and is predicted to have many market related activities, growth initiatives, and various government participation to promote the industry across regions. It is also anticipated that a huge amount of dollar will be spent in the coming days on R&D activities to provide the best and influential technologies and vehicles for FCEV market. Apart from these, active government participation, incentives and monetary benefits to vehicle manufacturers along with customers will help the global FCEV market reach a point of concertation in the global transportation industry.

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