Automotive Fuel Cell Market worth 596,255 units by 2028 - Exclusive Report by MarketsandMarkets™
b'CHICAGO, April 16, 2021 /PRNewswire/ -- According to the new market research report " Automotive Fuel Cell Market by Component (Fuel Processor, Fuel Cell Stack, Power Conditioner, Air Compressor, Humidifier), Power Output, Hydrogen Fuel Stations, Vehicle Type (Passenger car, LCV, Truck, Bus), Operating Miles, Region - Global Forecast 2028", published by MarketsandMarkets,the marketsize is projected to grow from 20,168 units in 2021 to reach 596,255 units by 2028, at a CAGR of 62.2%.
- b'CHICAGO, April 16, 2021 /PRNewswire/ -- According to the new market research report " Automotive Fuel Cell Market by Component (Fuel Processor, Fuel Cell Stack, Power Conditioner, Air Compressor, Humidifier), Power Output, Hydrogen Fuel Stations, Vehicle Type (Passenger car, LCV, Truck, Bus), Operating Miles, Region - Global Forecast 2028", published by MarketsandMarkets,the marketsize is projected to grow from 20,168 units in 2021 to reach 596,255 units by 2028, at a CAGR of 62.2%.
- For instance, Toyota is doubling its investments in fuel cell vehicles to expand production, thereby decreasing the cost of hydrogen fuel cell vehicles.
- Germany is projected to be the largest Automotive Fuel Cell Market in Europe.
- The high adoption rate and rising demand for personal mobility is expected to drive the fuel cell passenger car market.