ReportsnReports . com adds new research report Global Hydrogen Fuel Cell Vehicle Market 2017- 2021 . The global hydrogen fuel cell vehicle market study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry . The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors .
The analysts forecast global hydrogen fuel cell vehicle market to grow at a CAGR of 82.06 % during the period 2017-2021 .
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The following companies are the key players in the global hydrogen fuel cell vehicle market : Daimler , Honda , Hyundai , and Toyota .
Other Prominent Vendors in the market are : Audi , Ballard Power Systems , BMW , Fuel Cell Energy , GM , Hydrogenics , MAN , and Volvo .
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Further , the hydrogen fuel cell vehicle market report states that one of the major factors hindering the growth of this market is reduced HRS and high initial cost of development . The installation of electric vehicle chargers is easy and inexpensive owing to the advances in technologies such as wireless chargers and DC fast chargers , and residential charging units are also available for PEVs . On the contrary , HRS cannot be installed in any residential unit and the installation costs accounts for more than $ 1 million .
Commenting on the hydrogen fuel cell vehicle market report , an analyst said : “ The latest trend gaining momentum in the market is production of clean hydrogen fuel ( green fuel ). The conventional method to produce hydrogen gas releases GHGs that can diminish the zeroemission advantage of HFCVs . Therefore , R & D to produce hydrogen through clean methods , known as a green fuel , with zero carbon emissions are under progress . Such methods involve renewable energy sources . One such method that is in practice is electrolysis .”
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According to the hydrogen fuel cell vehicle market report , one of the major drivers for this market is development of infrastructure to produce hydrogen . Fuel cell electric vehicles use hydrogen as the primary fuel cell . Currently , around 80 million tons of hydrogen is produced each year worldwide at an average price of $ 1.75 / kg . The global fuel cell market requires the additional production of 90 million tons annually to sustain growth . Significant investments are being made to scale up the production of hydrogen and develop clean and emission-free hydrogen production technologies .
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