Global Hydrogen Fuel Cell Train Market is valued approximately USD $$million in 2021 and is anticipated to grow with a healthy growth rate of more than $$% over the forecast period 2022-2028.
The Hydrogen Fuel Cell Train or hydrogen powered trains refer to trains that uses hydrogen as a power source for propulsion and auxiliary application. Hydrogen fuel cells offer an inherently clean source of energy, with no adverse environmental impact during operation as the byproducts are simply heat and water. Also, unlike biofuel or hydropower, hydrogen doesn’t require large areas of land to produce. The rising investment towards development of railways infrastructure and increasing concern over environmental degradation as well as recent strategic initiatives from leading market players are factors that are accelerating the global market demand.
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For instance, in January 2022, Canadian Pacific railroad and Ballard Power Systems, a maker of hydrogen fuel cells, entered in a partnership to expand CP’s Hydrogen Locomotive Program, adding eight additional 200 kW fuel cell modules to their initial order. Canadian Pacific received USD 15 million in funding from Emissions Reduction Alberta (ERA). Moreover, in February 2022, India announced USD 32.7 billion capital investment in rail in national budget for the purpose of rolling stock development. Furthermore, leading market players are working towards strategic partnerships to capture substantial market share.
For instance, in April 2022, Alstom and ENGIE entered in a partnership agreement to supply a fuel cell system with renewable hydrogen for use in European rail freight. Also, growing number of R&D activities in Hydrogen Fuel Cell Technology coupled with rising logistics and transportation sector are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, a high capital-intensive nature of Hydrogen Fuel Cell Train development impedes the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Hydrogen Fuel Cell Train Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing railways infrastructure and presence of leading market players. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the thriving growth of railways and increasing number of investment activities towards sustainable railways infrastructure, would create lucrative growth prospects for the global Hydrogen Fuel Cell Train Market across the Asia Pacific region.
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Major market players included in this report are:
Alstom
Ballard Power Systems
BNSF
CAF group
CRRC Corporation Limited
Engie Sa
Hitachi
Hyundai Corporation
IHI Corporation
Kawasaki Heavy Industries, Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Application
Passenger Train
Freight Train
By Technology
Proton Exchange Membrane Fuel Cell
Phosphoric Acid Fuel Cell
By Component
Hydrogen fuel cell Pack
Batteries
Electric traction motors
By Rail type
Passenger Rail
Commuter Rail
Light Rail
Trams
Freight
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Here is an overview of the different factual statements covered by the study:
- The learn about consists of an area that breaks down strategic traits for the primary gamers in present and upcoming R&D, new product launches, collaborations, regional expansion, and mergers & acquisitions.
- The lookup focuses on essential market traits such as revenue, product cost, potential and utilization rates, import/export rates, supply/demand figures, market share and CAGR.
- The learn about is a series of analyzed records and a variety of barrels of house bought via a mixture of analytical equipment and an inside look up process.
- The Market can be divided into 4 areas in accordance to the regional breakdown: North American Markets, European Markets, Asian Markets and Rest of the World.
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