Global Hydrogen Vehicle market will reach 11400 million US$ by the end of 2025
Published Date: 2019/2/20
Hydrogen Vehicle use hydrogen gas to power an electric motor. Unlike conventional vehicles which run on gasoline or diesel, fuel cell cars and trucks combine hydrogen and oxygen to produce electricity, which runs a motor.
In the last several years, global market of Hydrogen Vehicle developed rapidly, with an average growth rate of 95%. As an important role in automotive market, the development of Hydrogen Vehicle have a close relationship with the development of technology.
The global average price of Hydrogen Vehicle is in the decreasing trend, from 218 K USD/Unit in 2014 to 182 K USD/Unit in 2017. With the situation of global economy, prices will be in decreasing trend in the following five years.
United States and Europe account for 50% and 10% market share in 2016 respectively. As developed region, the growth rate of Hydrogen Vehicle are as high as less than 40%. On the other hand, the development speed of Hydrogen Vehicle in China and other Asian countries is relatively high. Besides, China also have larger consumption market with market share of 7%. The production region is mainly concentrated in Japan, Korea and China.
Market Concentration Rate is very high though the top 7 manufacturers occupies nearly 98% market share in 2017. There are still some of manufacturers participated in this market.
The global Hydrogen Vehicle market is valued at 580 million US$ in 2017 and will reach 11400 million US$ by the end of 2025, growing at a CAGR of 45.0% during 2018-2025.
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Last Update : Feb 20, 2019
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