Basingstoke, UK - June 20, 2022 - (Investorideas.com Newswire) A new study from Juniper Research has found the number of hydrogen vehicles in service globally will exceed 1 million in 2027, from just over 60,000 in 2022 - a substantial growth of over 1,500%.
Reduced Customer Anxiety
The research identified hydrogen vehicles as an increasingly viable alternative to BEVs (Battery Electric Vehicles). The potential for enhanced range and rapid refuelling compares favourably with BEVs; reducing customer anxieties around BEV ownership. These positives have led to significant investment by car manufacturers, including Hyundai, Toyota and BMW, and this will translate into an increasingly popular and available product over the next 5 years.
Download the Free Whitepaper: Why Hydrogen Vehicles are Ready for the Mainstream
Consumer Versus Commercial Hydrogen Vehicles
The research forecasts that the consumer market will lead the hydrogen vehicles space, with consumer vehicles accounting for over 60% of hydrogen vehicles in service globally in 2027. The report identified the nascent development stage of many commercial vehicle types and the high average cost of hydrogen powered commercial vehicles, at over $70,000 globally in 2022, as key factors limiting adoption.
Research co-author Olivia Williams explained: "Manufacturers will need to make hydrogen vehicles more affordable to become viable for fleets, but increased range and suitability for heavy goods transport will ultimately drive growth and economies of scale."
Infrastructure Concerns Still Prominent
Additionally, the report identified the low availability of fuelling infrastructure as a key challenge for wider adoption, but highlighted heavy industry investment as key to reducing this concern over the next 5 years. The report recommends that infrastructure vendors provide 'green' hydrogen, produced using renewable energy sources, to best take advantage of concerns around the environment driving the adoption of alternative fuels.
Notes to Editors
Hydrogen Vehicles market research: https://www.juniperresearch.com/researchstore/key-vertical-markets/hydrogen-vehicles
Download the whitepaper: https://www.juniperresearch.com/whitepapers/why-hydrogen-vehicles-are-ready-for-the-mainstream
Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports, and industry commentary.
Contact Sam Smith, Press Relations
T: +44(0)1256 830002
E: sam.smith@juniperresearch.com
/p>
More Info:
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/
Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
