Asia-Pacific Fuel Cell Electric Vehicle Market, By Vehicle Type (Passenger Cars (PC), Light Commercial Vehicle (LCV), Medium & Heavy Commercial Vehicle (M&HCV)), By Fuel Type (Methanol and Hydrogen), By Battery Capacity (0-100 kWh, 101 kWh to 200 kWh, and Above200 kWh), By Country, Competition Forecast and Opportunities, 2018-2030F
Asia Pacific Fuel Cell Electric Vehicle Market is anticipated to have a high growth rate due to the rising concern over the environment; countries are adopting clean energy fuel and enhancing the emission norms of vehicles. The Government is promoting through the subsidy for the adoption of fuel cell vehicles, and with the high efficiency, low maintenance cost, and low noise, better driving experience is also driving the growth of the Fuel Cell Electric Vehicle Market.
Development in Infrastructure by Government
South Korea announced plans to construct the largest liquid hydrogen facility in the world in May. The country's chemical-focused conglomerate Hyosung Group signed a contract with Linde for a USD 244 million project to construct the plant by 2022 with a capacity of 13,000 mt/year.
Japan's prominence at the Tokyo 2020 Olympics demonstrates its dedication to hydrogen. Tokyo 2020's 'Hydrogen Olympics' will see hydrogen utilized to power the Olympic Cauldron during the opening ceremony. Additionally, the Olympic Village utilizes hot water in the cafeterias, dorms, and training facilities, as well as athlete buses and vehicles that are hydrogen-fueled. During the Olympics, a total of 500 hydrogen-powered fuel cell vehicles were used. By 2030, Japan plans to build 1,000 hydrogen recharging stations for fuel-cell cars.
Developments by Manufacturers in Fuel Cell Vehicles
The Mirai sedan was unveiled by Toyota Motor Corp. globally. In March 2021, Hyundai Motor Co. introduced its Nexo crossovers and Tucson globally.
The Clarity Fuel Cell from Honda Motor Co. Ltd. is available for leasing, while the GLC F-CELL from Daimler AG has already been delivered to a small number of business and government clients. Several Chinese manufacturers, including the state-owned SAIC Motor, have created their own buses.
Two new zero-emission buses, the F12 Hydrogen Fuel Cell Bus, and the C11pure Electric Bus, were introduced in Beijing by Yuan Cheng, a subsidiary brand of Geely New Energy Commercial Vehicle Group (GCV).
Increasing Demand in Fuel Cell Vehicles
There is an increasing demand for fuel cell vehicles because they produce less carbon emission, have high efficiency, and low operating cost. Also, fuel cell vehicles provide a high range of traveling and produce more power than battery-electric vehicles. To promote the use of hydrogen fuel cells, the government has standardized to reduce carbon emissions. Because hydrogen fuel cells produce heat and water vapor as byproducts, there is a great need for hydrogen fuel cells that don't produce any toxic gases. It has benefits to switch from gasoline to hydrogen fuel cells, and hydrogen fuel cells also perform better.
Improved Range and Efficiency Due to Technological Advances
Due to its enhanced performance, quicker refilling, and longer range, fuel cell vehicles have become more and more popular in recent years. The technique also produces lower pollutants and, in addition to these benefits, helps in more power and torque. In addition, current catalyst innovations are essential for the development of fuel cell technology since they will increase durability through creative catalyst layer designs. Thus, the market for fuel-cell electric vehicles can be expected to increase significantly because of ongoing technological developments in fuel-cell technology.
Infrastructure, Price, and Safety Concerns
One of the major challenges in the adoption of fuel cell vehicles is the infrastructure for charging stations and the high prices of the vehicle. Many OEMs are building charging stations so the consumer has access to efficient charging along the way. Also, the consumers are concerned about the charging as they are worried about between stoppage of the vehicle. Hydrogen fuel cell products have greater transportation and storage expenses than gasoline-based goods. More safety issues are associated with hydrogen because it is flammable.
Market Segmentation
The Asia-Pacific Market is segmented by vehicle type, fuel type, battery capacity, and region. Based on vehicle type, the market is segmented into Passenger cars, Light Commercial vehicles, and Medium & Heavy Commercial vehicles. Based on fuel type, the market is segmented into Methanol and Hydrogen. On the basis of battery capacity, the market is segmented into 0 kWh to 100 kWh, 101 kWh to 200 kWh, and above 200 kWh.
Company Profiles
Toyota Motor Corporation, Hyundai Motor Company, Honda Motor Co., Ltd. General Motor Company, Nissan Motor Corporation, Tata Motors Limited, Mitsubishi Motors Corporation, Mercedes Benz AG, SAIC Motor Corporation Limited, and Zhejiang Geely Holding Group Co., Ltd are the key players developing advanced technologies to stay competitive in the market and enhancing their product portfolio in the region to increase their customer outreach.
Report Scope:
In this report, APAC Fuel Cell Electric Vehicle Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in the Apac Fuel Cell Electric Vehicle Market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
Development in Infrastructure by Government
South Korea announced plans to construct the largest liquid hydrogen facility in the world in May. The country's chemical-focused conglomerate Hyosung Group signed a contract with Linde for a USD 244 million project to construct the plant by 2022 with a capacity of 13,000 mt/year.
Japan's prominence at the Tokyo 2020 Olympics demonstrates its dedication to hydrogen. Tokyo 2020's 'Hydrogen Olympics' will see hydrogen utilized to power the Olympic Cauldron during the opening ceremony. Additionally, the Olympic Village utilizes hot water in the cafeterias, dorms, and training facilities, as well as athlete buses and vehicles that are hydrogen-fueled. During the Olympics, a total of 500 hydrogen-powered fuel cell vehicles were used. By 2030, Japan plans to build 1,000 hydrogen recharging stations for fuel-cell cars.
Developments by Manufacturers in Fuel Cell Vehicles
The Mirai sedan was unveiled by Toyota Motor Corp. globally. In March 2021, Hyundai Motor Co. introduced its Nexo crossovers and Tucson globally.
The Clarity Fuel Cell from Honda Motor Co. Ltd. is available for leasing, while the GLC F-CELL from Daimler AG has already been delivered to a small number of business and government clients. Several Chinese manufacturers, including the state-owned SAIC Motor, have created their own buses.
Two new zero-emission buses, the F12 Hydrogen Fuel Cell Bus, and the C11pure Electric Bus, were introduced in Beijing by Yuan Cheng, a subsidiary brand of Geely New Energy Commercial Vehicle Group (GCV).
Increasing Demand in Fuel Cell Vehicles
There is an increasing demand for fuel cell vehicles because they produce less carbon emission, have high efficiency, and low operating cost. Also, fuel cell vehicles provide a high range of traveling and produce more power than battery-electric vehicles. To promote the use of hydrogen fuel cells, the government has standardized to reduce carbon emissions. Because hydrogen fuel cells produce heat and water vapor as byproducts, there is a great need for hydrogen fuel cells that don't produce any toxic gases. It has benefits to switch from gasoline to hydrogen fuel cells, and hydrogen fuel cells also perform better.
Improved Range and Efficiency Due to Technological Advances
Due to its enhanced performance, quicker refilling, and longer range, fuel cell vehicles have become more and more popular in recent years. The technique also produces lower pollutants and, in addition to these benefits, helps in more power and torque. In addition, current catalyst innovations are essential for the development of fuel cell technology since they will increase durability through creative catalyst layer designs. Thus, the market for fuel-cell electric vehicles can be expected to increase significantly because of ongoing technological developments in fuel-cell technology.
Infrastructure, Price, and Safety Concerns
One of the major challenges in the adoption of fuel cell vehicles is the infrastructure for charging stations and the high prices of the vehicle. Many OEMs are building charging stations so the consumer has access to efficient charging along the way. Also, the consumers are concerned about the charging as they are worried about between stoppage of the vehicle. Hydrogen fuel cell products have greater transportation and storage expenses than gasoline-based goods. More safety issues are associated with hydrogen because it is flammable.
Market Segmentation
The Asia-Pacific Market is segmented by vehicle type, fuel type, battery capacity, and region. Based on vehicle type, the market is segmented into Passenger cars, Light Commercial vehicles, and Medium & Heavy Commercial vehicles. Based on fuel type, the market is segmented into Methanol and Hydrogen. On the basis of battery capacity, the market is segmented into 0 kWh to 100 kWh, 101 kWh to 200 kWh, and above 200 kWh.
Company Profiles
Toyota Motor Corporation, Hyundai Motor Company, Honda Motor Co., Ltd. General Motor Company, Nissan Motor Corporation, Tata Motors Limited, Mitsubishi Motors Corporation, Mercedes Benz AG, SAIC Motor Corporation Limited, and Zhejiang Geely Holding Group Co., Ltd are the key players developing advanced technologies to stay competitive in the market and enhancing their product portfolio in the region to increase their customer outreach.
Report Scope:
In this report, APAC Fuel Cell Electric Vehicle Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
- Asia Pacific Fuel Cell Electric Vehicle Market, By Vehicle Type
- Passenger Car
- Light Commercial Vehicle
- Medium & Heavy Commercial Vehicle
- Asia Pacific Fuel Cell Electric Vehicle Market, By Fuel Type:
- Methanol
- Hydrogen
- Asia Pacific Fuel Cell Electric Vehicle Market, By Battery Capacity:
- 0 kWh to 100 kWh,
- 101 kWh to 200 kWh,
- Above 200 kWh
- Asia Pacific Fuel Cell Electric Vehicle Market, By Region:
- China
- Japan
- South Korea
- India
- Thailand
- Indonesia
- Malaysia
Company Profiles: Detailed analysis of the major companies present in the Apac Fuel Cell Electric Vehicle Market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. INTRODUCTION
1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2. RESEARCH METHODOLOGY
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. EXECUTIVE SUMMARY
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
4. IMPACT OF COVID-19 ON APAC FUEL CELL ELECTRIC VEHICLE MARKET
4.1. Key Segments Impacted
4.2. Key Countries Impacted
5. VOICE OF CUSTOMER ANALYSIS
5.1. Factors Influencing Purchase Decision
5.2. Brand Awareness
5.3. Brand Satisfaction Level
6. APAC FUEL CELL ELECTRIC VEHICLE MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Volume
6.1.2. By Value
6.2. Market Share & Forecast
6.2.1. By Vehicle Type Market Share Analysis (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle)
6.2.2. By Fuel Type Market Share Analysis (Methanol, Hydrogen)
6.2.3. By Battery Capacity Market Share Analysis (0 kWh to 100 kWh, 101 kWh to 200 kWh, above 200 kWh)
6.2.4. By Country Market Share Analysis
6.2.4.1. China Market Share Analysis
6.2.4.2. Japan Market Share Analysis
6.2.4.3. South Korea Market Share Analysis
6.2.4.4. India Market Share Analysis
6.2.4.5. Thailand Market Share Analysis
6.2.4.6. Indonesia Market Share Analysis
6.2.4.7. Malaysia Market Share Analysis
6.2.4.8. Rest of Asia-Pacific Market Share Analysis
6.2.5. By Company Market Share Analysis (By Value, 2022)
6.3. Asia-Pacific Fuel Cell Electric Vehicle Market Mapping & Opportunity Assessment
6.3.1. By Vehicle Type Market Mapping & Opportunity Assessment
6.3.2. By Fuel Type Market Mapping & Opportunity Assessment
6.3.3. By Battery Capacity Market Mapping & Opportunity Assessment
6.3.4. By Country Market Mapping & Opportunity Assessment
7. CHINA ELECTRIC VEHICLE MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Volume
7.1.2. By Value
7.2. Market Share & Forecast
7.2.1. By Vehicle Type Market Share Analysis
7.2.2. By Fuel Type Market Share Analysis
7.2.3. By Battery Capacity Market Share Analysis
8. JAPAN ELECTRIC VEHICLE MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Volume
8.1.2. By Value
8.2. Market Share & Forecast
8.2.1. By Vehicle Type Market Share Analysis
8.2.2. By Fuel Type Market Share Analysis
8.2.3. By Battery Capacity Market Share Analysis
9. SOUTH KOREA ELECTRIC VEHICLE MARKET OUTLOOK
9.1. Market Size & Forecast
9.1.1. By Volume
9.1.2. By Value
9.2. Market Share & Forecast
9.2.1. By Vehicle Type Market Share Analysis
9.2.2. By Fuel Type Market Share Analysis
9.2.3. By Battery Capacity Market Share Analysis
10. INDIA ELECTRIC VEHICLE MARKET OUTLOOK
10.1. Market Size & Forecast
10.1.1. By Volume
10.1.2. By Value
10.2. Market Share & Forecast
10.2.1. By Vehicle Type Market Share Analysis
10.2.2. By Fuel Type Market Share Analysis
10.2.3. By Battery Capacity Market Share Analysis
11. THAILAND ELECTRIC VEHICLE MARKET OUTLOOK
11.1. Market Size & Forecast
11.1.1. By Volume
11.1.2. By Value
11.2. Market Share & Forecast
11.2.1. By Vehicle Type Market Share Analysis
11.2.2. By Fuel Type Market Share Analysis
11.2.3. By Battery Capacity Market Share Analysis
12. INDONESIA ELECTRIC VEHICLE MARKET OUTLOOK
12.1. Market Size & Forecast
12.1.1. By Volume
12.1.2. By Value
12.2. Market Share & Forecast
12.2.1. By Vehicle Type Market Share Analysis
12.2.2. By Fuel Type Market Share Analysis
12.2.3. By Battery Capacity Market Share Analysis
13. MALAYSIA ELECTRIC VEHICLE MARKET OUTLOOK
13.1. Market Size & Forecast
13.1.1. By Volume
13.1.2. By Value
13.2. Market Share & Forecast
13.2.1. By Vehicle Type Market Share Analysis
13.2.2. By Fuel Type Market Share Analysis
13.2.3. By Battery Capacity Market Share Analysis
14. MARKET DYNAMICS
14.1. Market Drivers
14.2. Market Challenges
15. MARKET TRENDS AND DEVELOPMENTS
16. SWOT ANALYSIS
16.1. Strengths
16.2. Weakness
16.3. Opportunities
16.4. Threat
17. COMPETITIVE LANDSCAPE
17.1. Company Profiles (Up to 10 Leading Companies)
17.1.1. Toyota Motor Corporation
17.1.1.1. Company Details
17.1.1.2. Products & Services
17.1.1.3. Recent Development
17.1.1.4. Key Management Personnel
17.1.2. Hyundai Motor Company
17.1.2.1. Company Details
17.1.2.2. Products & Services
17.1.2.3. Recent Development
17.1.2.4. Key Management Personnel
17.1.3. Honda Motor Co. Ltd
17.1.3.1. Company Details
17.1.3.2. Products & Services
17.1.3.3. Recent Development
17.1.3.4. Key Management Personnel
17.1.4. General Motor Company
17.1.4.1. Company Details
17.1.4.2. Products & Services
17.1.4.3. Recent Development
17.1.4.4. Key Management Personnel
17.1.5. Nissan Motor Corporation
17.1.5.1. Company Details
17.1.5.2. Products & Services
17.1.5.3. Recent Development
17.1.5.4. Key Management Personnel
17.1.6. Tata Motors Limited
17.1.6.1. Company Details
17.1.6.2. Products & Services
17.1.6.3. Recent Development
17.1.6.4. Key Management Personnel
17.1.7. Mitsubishi Motors Corporation
17.1.7.1. Company Details
17.1.7.2. Products & Services
17.1.7.3. Recent Development
17.1.7.4. Key Management Personnel
17.1.8. Mercedes Benz AG
17.1.8.1. Company Details
17.1.8.2. Products & Services
17.1.8.3. Recent Development
17.1.8.4. Key Management Personnel
17.1.9. Siac Motor Corporation Limited.
17.1.9.1. Company Details
17.1.9.2. Products & Services
17.1.9.3. Recent Development
17.1.9.4. Key Management Personnel
17.1.10. Zhejiang Geely Holding Group Co.
17.1.10.1. Company Details
17.1.10.2. Products & Services
17.1.10.3. Recent Development
17.1.10.4. Key Management Personnel
18. STRATEGIC RECOMMENDATIONS
18.1. Key Focus Areas
18.2. Target Countries
18.3. Target Vehicle Type
19. ABOUT US & DISCLAIMER
1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2. RESEARCH METHODOLOGY
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. EXECUTIVE SUMMARY
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
4. IMPACT OF COVID-19 ON APAC FUEL CELL ELECTRIC VEHICLE MARKET
4.1. Key Segments Impacted
4.2. Key Countries Impacted
5. VOICE OF CUSTOMER ANALYSIS
5.1. Factors Influencing Purchase Decision
5.2. Brand Awareness
5.3. Brand Satisfaction Level
6. APAC FUEL CELL ELECTRIC VEHICLE MARKET OUTLOOK
6.1. Market Size & Forecast
6.1.1. By Volume
6.1.2. By Value
6.2. Market Share & Forecast
6.2.1. By Vehicle Type Market Share Analysis (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle)
6.2.2. By Fuel Type Market Share Analysis (Methanol, Hydrogen)
6.2.3. By Battery Capacity Market Share Analysis (0 kWh to 100 kWh, 101 kWh to 200 kWh, above 200 kWh)
6.2.4. By Country Market Share Analysis
6.2.4.1. China Market Share Analysis
6.2.4.2. Japan Market Share Analysis
6.2.4.3. South Korea Market Share Analysis
6.2.4.4. India Market Share Analysis
6.2.4.5. Thailand Market Share Analysis
6.2.4.6. Indonesia Market Share Analysis
6.2.4.7. Malaysia Market Share Analysis
6.2.4.8. Rest of Asia-Pacific Market Share Analysis
6.2.5. By Company Market Share Analysis (By Value, 2022)
6.3. Asia-Pacific Fuel Cell Electric Vehicle Market Mapping & Opportunity Assessment
6.3.1. By Vehicle Type Market Mapping & Opportunity Assessment
6.3.2. By Fuel Type Market Mapping & Opportunity Assessment
6.3.3. By Battery Capacity Market Mapping & Opportunity Assessment
6.3.4. By Country Market Mapping & Opportunity Assessment
7. CHINA ELECTRIC VEHICLE MARKET OUTLOOK
7.1. Market Size & Forecast
7.1.1. By Volume
7.1.2. By Value
7.2. Market Share & Forecast
7.2.1. By Vehicle Type Market Share Analysis
7.2.2. By Fuel Type Market Share Analysis
7.2.3. By Battery Capacity Market Share Analysis
8. JAPAN ELECTRIC VEHICLE MARKET OUTLOOK
8.1. Market Size & Forecast
8.1.1. By Volume
8.1.2. By Value
8.2. Market Share & Forecast
8.2.1. By Vehicle Type Market Share Analysis
8.2.2. By Fuel Type Market Share Analysis
8.2.3. By Battery Capacity Market Share Analysis
9. SOUTH KOREA ELECTRIC VEHICLE MARKET OUTLOOK
9.1. Market Size & Forecast
9.1.1. By Volume
9.1.2. By Value
9.2. Market Share & Forecast
9.2.1. By Vehicle Type Market Share Analysis
9.2.2. By Fuel Type Market Share Analysis
9.2.3. By Battery Capacity Market Share Analysis
10. INDIA ELECTRIC VEHICLE MARKET OUTLOOK
10.1. Market Size & Forecast
10.1.1. By Volume
10.1.2. By Value
10.2. Market Share & Forecast
10.2.1. By Vehicle Type Market Share Analysis
10.2.2. By Fuel Type Market Share Analysis
10.2.3. By Battery Capacity Market Share Analysis
11. THAILAND ELECTRIC VEHICLE MARKET OUTLOOK
11.1. Market Size & Forecast
11.1.1. By Volume
11.1.2. By Value
11.2. Market Share & Forecast
11.2.1. By Vehicle Type Market Share Analysis
11.2.2. By Fuel Type Market Share Analysis
11.2.3. By Battery Capacity Market Share Analysis
12. INDONESIA ELECTRIC VEHICLE MARKET OUTLOOK
12.1. Market Size & Forecast
12.1.1. By Volume
12.1.2. By Value
12.2. Market Share & Forecast
12.2.1. By Vehicle Type Market Share Analysis
12.2.2. By Fuel Type Market Share Analysis
12.2.3. By Battery Capacity Market Share Analysis
13. MALAYSIA ELECTRIC VEHICLE MARKET OUTLOOK
13.1. Market Size & Forecast
13.1.1. By Volume
13.1.2. By Value
13.2. Market Share & Forecast
13.2.1. By Vehicle Type Market Share Analysis
13.2.2. By Fuel Type Market Share Analysis
13.2.3. By Battery Capacity Market Share Analysis
14. MARKET DYNAMICS
14.1. Market Drivers
14.2. Market Challenges
15. MARKET TRENDS AND DEVELOPMENTS
16. SWOT ANALYSIS
16.1. Strengths
16.2. Weakness
16.3. Opportunities
16.4. Threat
17. COMPETITIVE LANDSCAPE
17.1. Company Profiles (Up to 10 Leading Companies)
17.1.1. Toyota Motor Corporation
17.1.1.1. Company Details
17.1.1.2. Products & Services
17.1.1.3. Recent Development
17.1.1.4. Key Management Personnel
17.1.2. Hyundai Motor Company
17.1.2.1. Company Details
17.1.2.2. Products & Services
17.1.2.3. Recent Development
17.1.2.4. Key Management Personnel
17.1.3. Honda Motor Co. Ltd
17.1.3.1. Company Details
17.1.3.2. Products & Services
17.1.3.3. Recent Development
17.1.3.4. Key Management Personnel
17.1.4. General Motor Company
17.1.4.1. Company Details
17.1.4.2. Products & Services
17.1.4.3. Recent Development
17.1.4.4. Key Management Personnel
17.1.5. Nissan Motor Corporation
17.1.5.1. Company Details
17.1.5.2. Products & Services
17.1.5.3. Recent Development
17.1.5.4. Key Management Personnel
17.1.6. Tata Motors Limited
17.1.6.1. Company Details
17.1.6.2. Products & Services
17.1.6.3. Recent Development
17.1.6.4. Key Management Personnel
17.1.7. Mitsubishi Motors Corporation
17.1.7.1. Company Details
17.1.7.2. Products & Services
17.1.7.3. Recent Development
17.1.7.4. Key Management Personnel
17.1.8. Mercedes Benz AG
17.1.8.1. Company Details
17.1.8.2. Products & Services
17.1.8.3. Recent Development
17.1.8.4. Key Management Personnel
17.1.9. Siac Motor Corporation Limited.
17.1.9.1. Company Details
17.1.9.2. Products & Services
17.1.9.3. Recent Development
17.1.9.4. Key Management Personnel
17.1.10. Zhejiang Geely Holding Group Co.
17.1.10.1. Company Details
17.1.10.2. Products & Services
17.1.10.3. Recent Development
17.1.10.4. Key Management Personnel
18. STRATEGIC RECOMMENDATIONS
18.1. Key Focus Areas
18.2. Target Countries
18.3. Target Vehicle Type
19. ABOUT US & DISCLAIMER
