The number of hydrogen and fuel cell passenger cars in Austria increased from 0 units in 2013 to 69 units in 2023, representing actual data. The year-on-year variations have been significant, particularly between 2015 and 2016 (100% and 116.67%, respectively). Although growth rates have slowed in recent years, with a 12.73% YoY increase in 2022 and 11.29% in 2023, the sector has maintained positive momentum.
A five-year compound annual growth rate (CAGR) of 23.52% has been observed from 2018 to 2023. Looking forward, forecasted data shows modest growth, with projected values reaching 102 units by 2028, indicating a 6.34% CAGR, and a forecasted growth rate of 36% over the 5-year period from 2024 to 2028.
Future trends to watch for include advancements in hydrogen refueling infrastructure, governmental incentives for clean energy vehicles, and potential technological breakthroughs reducing costs and increasing the attractiveness of hydrogen fuel cell cars. Monitoring these factors will be crucial for understanding market dynamics moving forward.
