Forecast: Number of Hydrogen and Fuel Cells Passenger Cars in Denmark

Over the past decade, Denmark has seen significant fluctuations in the number of hydrogen and fuel cell passenger cars. Following modest annual growth rates between 2013 and 2014, there was a substantial increase in 2015, followed by consistent growth until 2017. In 2018 and 2019, the market experienced slight declines but rebounded sharply in 2020 and 2021. However, 2022 saw a notable decrease, with a recovery in 2023, where the number of cars stood at 169 units, up 15% from the previous year. Over the last five years leading up to 2023, the CAGR stood at approximately 15%. Looking ahead, the forecast indicates a steady growth trajectory with a 5-year CAGR of 5.72% and an overall growth rate of 32.07% by 2028.

Future trends to watch for include:

- Advances in hydrogen fuel cell technology reducing costs and increasing vehicle efficiency.

- Government policies and incentives promoting the adoption of hydrogen and fuel cell vehicles.

- Expansion of hydrogen refueling infrastructure across Denmark.

- Potential increase in consumer demand as public awareness grows and vehicle options improve.

- Development of a stronger hydrogen supply chain within and outside Denmark to support fuel cell vehicles.