The Japan hydrogen buses market size 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 course of the anticipated period at a stunning CAGR of 67%, according to data from Future Market Insights. Between 2023 and 2033, the industry’s forecasted value is expected to increase from $8.45 billion to $1426.68 billion.
The primary problems affecting the market for hydrogen buses are worries about the destruction of the environment and the depletion of natural resources. As a result, technology advancements supporting the idea of environmentally friendly modes of transportation for ecosystem regulation have accelerated.
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Additionally, as more people get outraged by the bad effects of air pollution, increasing traffic, and GHG emissions, the usage of hydrogen fuel cell buses is growing. These buses offer an environmentally beneficial substitute for conventional transportation methods like cars with petrol or diesel engines.
The sector is greatly impacted by technological developments in hydrogen-powered vehicles, which is increasing the likelihood of hydrogen-powered buses over the projected period. According to projections, there will be many potential for the market for hydrogen-powered buses to expand during the predicted time period. In the coming years, it is also projected that increasing government investment will encourage market expansion.
California in the United States has funded the building of 100 hydrogen refuelling stations in order to reach its goal of 1.5 million zero-emission automobiles by 2025. The adoption of hydrogen buses is predicted to be made simpler throughout the projection period by laws similar to those put in place by several nations around the world to protect environmental health and safety.
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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
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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
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