Learn about the global hydrogen powered transport market through The Business Research Company, which provides information on hydrogen powered transport market size, hydrogen powered transport market drivers and restraints, hydrogen powered transport market players, the COVID-19 impact on the hydrogen powered transport market, and more.

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The global hydrogen powered transport market is expected to grow from $2.09 billion in 2020 to $3.27 billion in 2021 at a compound annual growth rate (CAGR) of 56.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $20.04 billion in 2025 at a CAGR of 58%.

An increase in government initiatives for the development of hydrogen fuel cell infrastructure is expected to drive innovation in hydrogen powered transport manufacturing, thus driving the market during the forecast period.

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The hydrogen powered transport market consists of the sales of hydrogen powered transport services and related goods by entities (organizations, sole traders and partnerships) that are engaged in the manufacturing of electric vehicles. Only goods and services traded between entities or sold to end consumers are included.

Global Hydrogen Powered Transport Market Segments Include:

By Fuel Cell Technology Type: Proton Exchange Membrane Fuel Cells, Phosphoric Acid Fuel Cells, Others

By Vehicle Type: Cars, Buses, Trucks, Others 

By End Use: Passenger Vehicle, Commercial Vehicle

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the hydrogen powered transport market in 2020.

The launch of a prototype of a hydrogen fuel cell forklift is gaining popularity in the hydrogen-powered transport market. Major players operating in the industry are continuously focusing on introducing innovations and technologies to better serve the needs of consumers.

TBRC,s hydrogen powered transport market report covers:

Major Market Players: Honda, Toyota, Hyundai, BMW, General Motors, Foton, Mercedes-Benz, Volkswagen, SAIC, FeiChi Bus, Dongfeng, Volvo, Ballard Power Systems, Audi, MAN, Groupe Renault, Mazda Motor Corporation, Hydrogenics, Kia Motor Corporation, Tata Motors Limited, Nikola Corporation.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Hydrogen Powered Transport Global Market Report 2021: COVID-19 Growth and Change to 2030 is one of a series of new reports from The Business Research Company that provides hydrogen powered transport market overviews, analyses and forecasts market size, share, hydrogen powered transport market players, hydrogen powered transport market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC,s hydrogen powered transport market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors, approaches.

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