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.
According to research from Future Market Insights, the market for hydrogen buses is projected to expand over the course of the expected decade at an astounding CAGR of 67%. The industry’s predicted value is projected to rise from $8.45 billion to $1426.68 billion between 2023 and 2033.
Concerns about environmental deterioration and the loss of natural resources are the main issues affecting the market for hydrogen buses. Technology development in favour of the idea of eco-friendly modes of mobility for ecosystem regulation has therefore increased.
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Additionally, the use of hydrogen fuel cell buses is expanding as more people become angered by the negative impacts of air pollution, rising traffic, and GHG emissions. These buses provide a greener alternative to traditional modes of transportation like petrol or diesel-powered autos.
Technological advancements in hydrogen-powered vehicles have a significant impact on the industry, which raises the possibility of hydrogen-powered buses over the anticipated time frame. Forecasts indicate that there will be numerous opportunities for the market for hydrogen-powered buses to grow within the anticipated time frame. Additionally, it is anticipated that rising government investment will promote market expansion in the upcoming years.
In order to meet its goal of 1.5 million zero-emission vehicles by 2025, California in the United States has supported the construction of 100 hydrogen refuelling stations. During the projected period, it is anticipated that legislation similar to those put in place by many countries throughout the world to safeguard environmental health and safety will make the adoption of hydrogen buses easier.
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
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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