Hydrogen Fuel Cell Vehicles - A Global Analysis, 2018

Hydrogen Fuel Cell Vehicles - A Global Analysis, 2018

  • March 2018 •
  • 40 pages •
  • Report ID: 5480889 •
  • Format: PDF
Executive Summary

Currently, three automakers – Toyota, Honda, and Hyundai – are selling/leasing light-duty hydrogen fuel cell vehicles. Not only will these automakers release new models of these vehicles, but eight additional brands are poised to enter the market by 2021. These include established brands such as Lexus, Kia, Mercedes-Benz and BMW. Other lesser known brands that are involved in this space include Tata Motors, Pininfarina S.p.A. (owned by Mahindra & Mahindra), Riversimple and the RONN Motor Group.

General Motors, which has unveiled a hydrogen fuel cell pick-up truck for the U.S. army, is eyeing an entry into the commercial fuel cell vehicle market in the 2020’s. Information Trends believes that several other automakers will enter the hydrogen fuel cell vehicle market by 2030.

A total of 6,364 light-duty hydrogen fuel cell vehicles were sold/leased globally by year-end 2017 since they were first launched. These vehicles became commercially available in 2013, with first sales/leases occurring in 2014. Information Trends believes that it is striking that the sales/leases of these vehicles have continued to grow despite the absence of robust hydrogen fueling infrastructures. 

Over 51 percent of hydrogen fuel cell vehicles have been sold/leased in California, the only state in the U.S. that is deploying these vehicles. In Asia, where only Japan and Korea have deployed hydrogen fuel cell vehicles, the sales/leases have constituted over 38 percent of global sales/leases. In Europe, which was the first region to deploy hydrogen fuel cell vehicles, the sales/leases have been less than 11 percent of global sales/leases.

Among automakers, Toyota has been the most successful, accounting for over 77 percent of global sales/leases. Moreover, hydrogen fuel cell vehicle sales/leases in 2017 were almost double the total sales/leases in the previous years.

Abstract

This is a comprehensive status report on the market for hydrogen fuel cell vehicles. The report discusses major players and product rollouts, along with a detailed analysis of automaker plans and strategies. The report carries out an in-depth analysis of this emerging market, providing data on the sales of hydrogen fuel cell vehicles by automaker and by region.



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