1. Market Research
  2. > Automotive
  3. > Motor Vehicle Market Trends
Global Market for Hydrogen Fuel Cell Vehicles, 2020

Global Market for Hydrogen Fuel Cell Vehicles, 2020

  • April 2020
  • 155 pages
  • ID: 5881408
  • Format: PDF
  • Information Trends


Table of Contents

Search Inside


This is one of the most comprehensive and timely reports on the hydrogen fuel cell vehicles market. The report provides detailed data on the sales of the hydrogen fuel cell vehicles from their initial commercial launch through 2019. It provides market forecasts for the major world regions through 2032. The report discusses automaker strategies and provides in depth profiles of the automakers producing hydrogen fuel cell vehicles or those who could potentially enter this market.

Executive Summary

This is a comprehensive study on the global market for light-duty hydrogen fuel cell vehicles, which represent the next generation of electric drive vehicles. 

As a carrier of energy, hydrogen has emerged as a viable alternative to existing solutions for powering automobiles. However, although hydrogen will be the fuel of the future, its widespread adoption is beset with challenges, such as:

  • Cost of hydrogen fuel cell vehicles
  • Cost of the infrastructure to support hydrogen fuel cell vehicles

Since 2014, the world has been witnessing a slow but steady transition to hydrogen fuel cell vehicles for the mass market. In 2014, when the first sales/leases of fuel cell vehicles took place, the U.S. led the field. The Asia-Pacific region took the lead in sales/leases in 2015 and 2016, but the U.S. became the top seller in 2017 and 2018. In 2019, Nexo had a phenomenal uptake of these vehicles in South Korea, propelling Asia-Pacific to the top spot.

Hydrogen fuel cell vehicles have entered the commercialization phase in sixteen countries in Europe and Middle East as well as in two Asia-Pacific countries (South Korea and Japan) and two countries in North America (U.S. and Canada). These vehicles are now being introduced in China and Latin America. China, in particular, will emerge as a major market for hydrogen fuel cell vehicles in the next few years.

More than 18 thousand hydrogen fuel cell vehicles were sold/leased globally by year-end 2019. In 2020, the rollout of these vehicles has begun accelerating. With zero emission capability, these vehicles represent the future of the automobile. The analyst projects that cumulatively, 6.56 million hydrogen fuel cell vehicles will be sold/leased globally between 2014 and 2032.  

Three major automakers, Toyota, Honda and Hyundai, are already selling these vehicles to the general public. The market will become more competitive as Mercedes-Benz begins selling its fuel cell vehicle in the public domain. The vehicle is currently being provided as a rental in Germany, and it is being sold to select clients.

Volkswagen and BMW are getting ready to join the hydrogen fuel cell vehicle bandwagon, with launches in 2021 and 2022, respectively. In addition, the rollout of these vehicles from Chinese automakers, SAIC and Grove, is imminent.

The sales/leases have been slow in the beginning primarily due to the prohibitive costs of fuel cell vehicles and the absence of robust hydrogen fueling infrastructures. However, the costs of these vehicles are gradually coming down, and hydrogen fueling infrastructures are beginning to take shape. This is propelling a faster growth of these vehicles.

Current customers of these vehicles include vehicle fleets, government agencies and early adopters. Until a critical mass of customers is reached in the 2020s, the market will remain confined to early adopters and affluent segments of society. 

By 2025, sufficient hydrogen fueling infrastructures will be in place in several regions of the world, giving an initial boost to the market for these vehicles. As fueling infrastructures further expand in the second half of 2020s, hydrogen fuel cell vehicles will begin to garner greater market acceptance, resulting in even faster market penetration. 

The automotive industry has been making headway on two key prerequisites to market expansion of fuel cell vehicles: 

  • Driving down fuel cell vehicle costs to make these vehicles more competitive with battery-electric vehicles: Passenger fuel cell vehicles are available in select markets, with early indications of real customer interest, and automakers are trying to price them to better compete at the premium-vehicle level.
  • Developing hydrogen infrastructures needed for fueling these vehicles: Pockets of hydrogen station clusters have emerged in several regions of the world, making it feasible to adopt fuel cell vehicles in those regions. As these clusters expand, the purchase of hydrogen fuel cell vehicles will become more attractive.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.


Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on