Allied Market Research published a report, titled, “Hydrogen Fuel Cell Train Market by Application (Passenger Train, Freight Train, Others), by Technology (Proton Exchange Membrane Fuel Cell, Phosphoric Acid Fuel Cell, Others), by Component (Hydrogen fuel cell Pack, Batteries, Electric traction motors, Others), by Rail type (Passenger Rail, Commuter Rail, Light Rail, Trams, Freight, Others): Global Opportunity Analysis and Industry Forecast, 2025-2035″. According to the report, the global hydrogen fuel cell train industry is expected to generate $2.67 billion in 2025, and is anticipated to reach $26.41 billion by 2035, witnessing a CAGR of 28.2% from 2026 to 2035.
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Increase in investments in railway infrastructure development, surge in environmental concerns, and rise in demand for public transport services drive the growth of the global hydrogen fuel cell train market. However, high capital requirement for development of hydrogen fuel cell trains and refurbishment of existing rolling stocks are expected to hinder the growth of the industry. On the other hand, increase in R&D activities related to hydrogen fuel cell technology and increase in demand for trains for passenger transportation are expected to create enormous opportunities for the market during the forecast period.
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Based on application, the passenger train segment is expected to hold the highest market share in 2025, accounting for nearly two-thirds of the global hydrogen fuel cell train market, and is estimated to maintain its leadership status throughout the forecast period, owing to increase in demand for public transportation across the globe. However, the freight train segment is projected to manifest the highest CAGR of 29.3% from 2026 to 2035, owing to rise in international trade and increase in cross-border rail freight transport.
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Based on technology, the proton exchange membrane fuel cell segment is anticipated to hold the highest market share in 2025, accounting for nearly two-fifths of the global hydrogen fuel cell train market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 29.5% from 2026 to 2035, owing to increase in use of proton exchange membrane fuel cells as energy sources in trains to reduce CHE emissions. The report also analyzes Phosphoric Acid Fuel Cell.
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Based on component, the hydrogen fuel cell pack segment is anticipated to hold the highest market share in 2025, accounting for more than one-thirds of the global hydrogen fuel cell train market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 29.9% from 2026 to 2035, as it provides higher efficiency and lower emissions than traditional combustion-based technologies. The report also analyzes batteries and electric traction motors.
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Similar Reports We Have on Hydrogen-Powered Industry:
Hydrogen Fuel Cell Vehicle Market by Vehicle Type (Passenger Vehicle and Commercial Vehicle) and Technology (Proton Exchange Membrane Fuel Cell, Phosphoric Acid Fuel Cells, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2030.
Hydrogen Powered Engine Market by Application (Passenger Vehicle and Commercial Vehicle) and Technology (Proton Membrane Exchange, Phosphoric Acid Fuel Cell and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030.
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