Fuel Cell Bikes Market Battery Type (Lead-acid, Lithium-ion (Li-ion), Nickel-metal hydride (NiMh)) Forecast, 2021–2027

Fuel cell bike or fuel cell electric bike is an electric vehicle that uses a fuel cell, sometimes in combination with a small battery or super capacitor, to power its on-board electric motor. The fuel cell bikes generate electricity generally using oxygen from the air and a compressed hydrogen-based engine. Most fuel cell vehicles are classified as zero-emissions vehicles that emit only water and heat. As compared with internal combustion vehicles, hydrogen vehicles centralize pollutants at the site of the hydrogen production, where hydrogen is typically derived from reformed natural gas. Transporting and storing hydrogen may also create pollutants. Moreover, fuel cells have been used in various kinds of vehicles including forklifts, especially in indoor applications where their clean emissions are important to air quality, and in space applications. The rise in environmental concerns and supportive government initiatives for the development of hydrogen fuel cell infrastructure propel the growth of the global hydrogen fuel cell vehicle market and is expected to boost the market growth during the forecast period.

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Companies covered in this report study:

Honda, Hyundai, Toyota, Audi, Daimler, Volvo, BMW, General Motors, Ballard Power Systems, and MAN.

Some of the factors that boost the market growth include rapid urbanization across the globe and growth in consumer inclination toward the use of fuel cell bikes as an eco-friendly solution. However, the high costs and initial investments associated with fuel cell electric vehicles are one of the prominent factors restricting the market growth. Furthermore, technological advancements and the untapped potential of hydrogen fuel cellsare expected to offer lucrative opportunities for the marketgrowth during the forecast period.

Rapid urbanization and traffic congestion in cities are among the factors expected to drive the demand for fuel cell bikes during the forecast period. Due to the pandemic, shared mobility for transportation is unlikely to be preferred. The fuel cell bikes are considered a safe, convenient, and affordable alternative to public transportation. Moreover, most countries are working toward boosting fuel-cell bikes using both subsidies and regulatory changes to reduce the stress on public transportation systems. In addition, advancements in the field of polymer electrolyte membrane technology allow fuel cells to operate at a lower temperature and offer a quick start to the fuel cell bikes market.

The global fuel cell bike industry has been witnessing bright opportunities, owing to government support and strict rules in favor of renewable energy source transportation. Moreover, growing consumer inclination towards the use of the eco-friendly and efficient solution to commuting and increasing fuel costs drive the growth of the global fuel cell bikes market. Also, market players are currently focusing on reducing the initial costs of fuel cell electric vehicles by introducing low-end variants for targeting a broad customer base. Further reductions in the cost of critical components such as batteries will minimize the impacts of the industry challenges and is expected to boost the market growth during the forecast period.

Key benefits of the report:

  • This study presents the analytical depiction of the fuel cell bikes market industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the fuel cell bike market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the fuel cell bikes market scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed fuel-cell bike market analysis based on competitive intensity and how the competition will take shape in the coming years.

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