Chicago, Jan. 10, 2023 (GLOBE NEWSWIRE) -- Markets N Research has recently released expansive research on Global Hydrogen Buses Market with 100+ market data Tables, Pie Chart, and Graphs & Figures spread through Pages and easy to understand detailed analysis. The report endows with wide-ranging statistical analysis of the market’s continuous developments, capacity, production, production value, cost/profit, supply/demand and import/export. This market report provides best solutions for strategy development and implementation depending on client’s needs to extract tangible results. Teams of experienced and consummate market research professionals persistently track key industries to spot key developments, unmet needs and possible growth opportunities. A numerous markets, marketing strategies, trends, future products and rising opportunities have been considered while studying market for preparing this Hydrogen Buses report. This market research report serves the clients by providing data and information on their business scenario with which they can stay ahead of the competition in today's rapidly changing business environment.
The global hydrogen buses market is expected to exhibit strong growth, reaching USD 117.2 billion by 2028. As per the report titled "Hydrogen Buses Market Size, Share & COVID-19 Impact Analysis, By Technology (Proton Exchange Membrane Fuel Cells, Direct Methanol Fuel Cells, Phosphoric Acid Fuel Cells, Zinc-Air Fuel Cells and Solid Oxide Fuel Cells), By Power Output (<150 KW, 150–250 KW and >250 KW), By Transit Bus Models (30-Foot Transit Buses, 40-Foot Transit Buses and 60-Foot Transit Buses) and Regional Forecasts, 2023-2030" observes that the market size in 2021 stood at USD 5.5 billion and USD 117.2 billion in 2028. The market is expected to exhibit a CAGR of 66.50% during the forecast period.
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Hydrogen Buses Market Analysis:
Concerns over the environment's degradation and the depletion of natural resources are the main factors driving the market for hydrogen buses. This has sped up the development of technology that supports the idea of eco-friendly modes of transportation for maintaining the ecosystem. Additionally, the adoption of hydrogen fuel cell buses is accelerating due to the increase in individuals irritated by the negative impacts of air pollution, rising traffic, and GHG emissions. These buses are environmentally friendly and provide a sustainable transportation choice, in contrast to traditional modes of transportation like cars with gas or diesel engines. Furthermore, technological advancements in hydrogen-powered vehicles significantly impact the market, expanding the potential for hydrogen-powered buses over the forecast period. It is estimated that the market for hydrogen-powered buses will have multiple chances to reach its potential over the anticipated time frame.
List Of Key hydrogen bus manufacturers profiled in the report:
- Tata Motors Limited
- Thor Industries
- Hyundai
- Ballard Power Systems
- NovaBus Corporation
- New Flyer Industries Ltd
- EvoBus
- New Flyer
- Hino Motors Ltd.
- SunLine Transit Agency
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the hydrogen buses market plan acquisitions to improve their brand recognition globally. For instance, in September 2022, A leading independent bus manufacturer and a market leader in electric mass mobility solutions, NFI Group Inc., announced that its subsidiaries New Flyer of America Inc. and New Flyer Industries Canada ULC (collectively, "New Flyer") had unveiled the next generation of emission-free hydrogen fuel cells. Announced. The heavy-duty electric bus Xcelsior CHARGE FCTM. The Xcelsior CHARGE FCTM utilises ecologically friendly hydrogen and fuel cell technology for long-range zero emissions power generation and battery charging.
Hyundai Collaborated with Iveco Group to Develop Hydrogen Fuel-Cell Systems for Buses
In July 2022, Hyundai and Iveco Group collaborated to offer hydrogen fuel-cell systems for European buses. Iveco's bus business segment stated it intended to start producing over 3,000 zero- and low-emission buses at its facility in Foggia, southern Italy, in 2023.
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Driving Factors:
- Growing Eco-Friendly Mobility Importance Offers Market Opportunities for Hydrogen Buses
New hydrogen bus models are being introduced by market participants while taking their usefulness and relevance into consideration. Shortly, favorable market conditions for the industry's players are anticipated by proactive steps to construct infrastructure for hydrogen buses. The operation of hydrogen buses is anticipated to increase due to the growing commercialization initiatives, particularly in Europe. As a result, the market for hydrogen buses is expected to develop over the forecast period.
- Growing Hydrogen Bus Testing and Emissions Concerns are Driving Market Demand
In the automobile sector, hydrogen buses are becoming more prevalent. They are a way to increase energy efficiency while lowering emissions of greenhouse gases and other pollutants. As environmental concerns increase, governments and organizations pass strict emission limits and laws. The promotion of hydrogen buses is expected to depend heavily on government initiatives in several countries. Several tax advantages and incentives are also being used for hydrogen cells to increase sales. As a result of these activities, it is projected that the demand for hydrogen bus testing will increase, aiding in the market growth of hydrogen buses.
Restraining Factors:
- High Hydrogen Bus Costs May Limit Market Growth
Compared to conventional buses, the initial cost of hydrogen buses is higher. This is a major impediment to implementing hydrogen buses in public transportation by several governments and administrations. Furthermore, governments are providing subsidies for the purchase of private electric vehicles, which may positively impact this market for those looking to buy commercial fleets. Furthermore, even standard hydrogen buses cost more than twice as much as their conventional counterparts, which may hinder the market growth.
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Report Scope and Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast Period 2023 to 2030 CAGR | 66.50 % |
| 2028 Value Projection | 117.2 billion |
| Base Year | 2022 |
| Market Size in 2021 | 5.5 billion |
| Historical Data for | 2016 - 2021 |
| Segments covered | By Technology, By Power Output, By Transit Bus Models and By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
Global Hydrogen Buses Market Segmentations:
Global Hydrogen Buses Market By Technology:
- Proton Exchange Membrane Fuel Cells
- Direct Methanol Fuel Cells
- Phosphoric Acid Fuel Cells
- Zinc-Air Fuel Cells
- Solid Oxide Fuel Cells
Global Hydrogen Buses Market By Power Output:
- <150 KW
- 150–250 KW
- >250 KW
Global Hydrogen Buses Market By Transit Bus Models:
- 30-Foot Transit Buses
- 40-Foot Transit Buses
- 60-Foot Transit Buses
Global Hydrogen Buses Market Regional Insights:
Europe is projected to hold the largest share of the hydrogen buses market over the forecast period. The presence of leading fuel hydrogen bus manufacturers is a key driver boosting the market's growth in Europe. The managing director of Ebusco recently handed the first 90 Ebusco buses to Germany's largest public transportation business in light of the country's growing awareness of EV technology and the high adoption of passenger hydrogen vehicles in the area.
Further Report Findings
- The market in Europe is expected to gain a huge portion of the global hydrogen buses market share in the coming years. The market development of hydrogen-powered buses is being driven by increasing attempts by private enterprises and governmental agencies to promote the expansion of emission-free vehicles in the region.
- The German hydrogen bus market will significantly support Europe's top ranking globally. The nation's shift to a green economy is advancing due to the growing number of hydrogen fuel cell buses.
- In the Asia Pacific, the growth in this region is primarily driven by increasing worries about health problems brought on by breathing in dirty air. The market potential for these buses is also being expanded by the growing government initiatives to encourage the adoption of hydrogen buses.
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Hydrogen Buses Market Report Answers the Following Questions:
- How much revenue will the Hydrogen Buses market generate by the end of the forecast period?
- Which market segment is expected to have the maximum market share?
- What are the influencing factors and their impact on the Hydrogen Buses market?
- Which regions are currently contributing the maximum share of the overall Hydrogen Buses market?
- What indicators are likely to stimulate the Hydrogen Buses market?
- What are the main strategies of the major players in the Hydrogen Buses market to expand their geographic presence?
- What are the main advances in the Hydrogen Buses market?
- How do regulatory standards affect the Hydrogen Buses market?
Table of Content
Chapter 1: Preface
Chapter 2: Report Summary
Chapter 3: COVID 19 Impact Analysis
Chapter 4: Global Structural Battery Market, By Technology Segment Analysis
Chapter 5: Global Structural Battery Market, By Power Output Segment Analysis
Chapter 6: Global Structural Battery Market, By Transit Bus Models Segment Analysis
Chapter 7: Structural Battery Market – Regional Analysis, 2022 – 2030
Chapter 8: Structural Battery Market – Industry Analysis
Chapter 9: Competitive Landscape
Chapter 10: Company Profiles
Chapter 11: Research Methodology
Chapter 12: Questionnaire
Chapter 13: Related Reports
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