Global Automotive Fuel Cell Market
Automotive Fuel Cell Market
According to Verified Market Research, Global Automotive Fuel Cell Market was valued at USD 425 Million in 2018 and is projected to reach USD 16,181 Million by 2026, growing at a CAGR of 57.31% from 2019 to 2026.
Global Automotive Fuel Cell Market Outlook
The major factors that are anticipated to boost the demand are the rapidly increasing consumer awareness and government support to promote the zero-emission vehicles that are expected to fuel the growth of the market. In addition to this, stringent emission norms and the development of fuel cell technology are some of the factors that are anticipated to propel the growth of the market over the forecast period. However, some of the restraining factors that may affect the growth of the market are high vehicle costs compared to conventional vehicles coupled with the increasing demand for hybrid electric vehicles. Furthermore, increasing demand for fuel cell vehicles owing to improved fuel efficiency and low carbon emission is providing an upthrust to the market.
Global Automotive Fuel Cell Market Competitive Landscape
The Global Automotive Fuel Cell Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as Ballard Power Systems, Hydrogenics, Plug Power, Nedstack, Nuvera, Delphi, AFCC, Daimler, Toshiba, and Ceres Power.
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