The Japan hydrogen buses market is being stimulated by the favorable actions taken by the government to tackle global warming For instance, the Tokyo Metropolitan Government is encouraging the use of hydrogen as a clean energy source to fuel cars, thereby assisting in the decarbonization of society. By the end of 2030, Tokyo hopes to have 300 or more buses powered by hydrogen fuel cells thanks to a collaboration with the Fukushima area.
Key Takeaways from the Hydrogen Buses Industry
- German hydrogen buses market is projected to substantially contribute towards Europe’s leading position on a global scale. The rising influx of hydrogen fuel cell buses in the country is accelerating the transition towards the green economy.
- The North American hydrogen buses market holds a significant market share. Rising initiatives by private companies and government bodies to foster the growth of emission-free vehicles in the region are propelling the market development of hydrogen-powered buses.
- In emerging countries like India, the escalating pollution levels and growing concerns related to health issues caused by the inhalation of polluted air are driving the demand for hydrogen buses.
- In China, the Beijing Winter Olympics 2022 witnessed the circulation of 800+ hydrogen fuel cell buses. The rising production and sales of hydrogen buses in the country are predicted to catalyze market growth.
- The increasing operation of eco-friendly hydrogen-powered buses in South Korea is stimulating market growth in the country. Additionally, the rising government initiatives to promote the adoption of hydrogen buses are also enhancing the market scope of these buses.
The market for hydrogen buses is anticipated to grow over the forecast period at an incredible CAGR of 67%, according to data from Future Market Insights. Between 2023 and 2033, the sector’s projected value is expected to increase from $8.45 billion to $1426.68 billion.
The primary factors influencing the market for hydrogen buses are worries about the destruction of the environment and the depletion of natural resources. As a result, technology that supports the idea of environmentally friendly means of transportation for managing the ecosystem has advanced more quickly.
Request a Sample of this Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-15953
Additionally, as more people become agitated by the bad effects of air pollution, increasing traffic, and GHG emissions, the adoption of hydrogen fuel cell buses is accelerating. In contrast to conventional modes of transportation like cars with petrol or diesel engines, these buses are ecologically benign and offer a sustainable transportation option.
The market is being significantly impacted by technological developments in hydrogen-powered vehicles, which is increasing the potential for hydrogen-powered buses over the forecast period. According to estimates, there will be several opportunities for the market for hydrogen-powered buses to develop during the predicted period of time. In addition, growing spending in the government is predicted to boost market expansion in the following years.
California in the United States has supported the building of 100 hydrogen refuelling stations in order to reach its target of 1.5 million zero-emission vehicles by 2025. It is projected that during the course of the projection period, rules similar to those put in place by many nations across the world to protect environmental health and safety will make the adoption of hydrogen buses easier.
Request for Customization:
https://www.futuremarketinsights.com/customization-available/rep-gb-15953
Growing Significance of Eco-friendly Mobility Presents Opportunities for Hydrogen Buses Operators
Companies operating in the hydrogen buses market are launching new models of hydrogen buses, keeping in mind their practicality and relevancy. Additionally, active measures to develop infrastructure for hydrogen fuel cell busare is projected to create favourable market conditions for the industry players in the near future. The increasing efforts to commercialize hydrogen fuel cell buses, especially in Europe, is expected to raise the operation of hydrogen buses.
Following companies provide hydrogen buses in the market, as identified by FMI:
- Tata Motors Limited
- Thor Industries
- Hyundai
- Ballard Power Systems
- NovaBus Corporation
- New Flyer Industries Ltd
- EvoBus
- New Flyer
- Hino Motors Ltd.
- SunLine Transit Agency
Speak to our Research Expert:
https://www.futuremarketinsights.com/ask-question/rep-gb-15953
Hydrogen Buses Industry Segmentation by Category
By Technology:
- Proton Exchange Membrane Fuel Cells
- Direct Methanol Fuel Cells
- Phosphoric Acid Fuel Cells
- Zinc-Air Fuel Cells
- Solid Oxide Fuel Cells
By Power Output:
- <150 kW
- 150–250 kW
- >250 kW
By Transit Bus Models:
- 30-Foot Transit Buses
- 40-Foot Transit Buses
- 60-Foot Transit Buses
By Region:
- North America
- Latin America
- Asia Pacific
- Eastern Europe
- Western Europe
- Japan
About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights Inc.
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports
LinkedIn | Twitter | Blogs