Hydrogen Fuel Cell Vehicle Market Size, Share and Trends Report
The Global Hydrogen Fuel Cell Vehicle Market size is expected to grow from USD 2.59 billion in 2023 to USD 103.83 billion by 2032, at a CAGR of 50.7 % during the forecast period (2024-2032).
A hydrogen vehicle is a hybrid vehicle that operates on hydrogen as its major fuel source. Hydrogen vehicles include space rockets that run on hydrogen, as well as automobiles and other modes of transportation. Hydrogen's chemical energy is transferred to mechanical energy by either reacting hydrogen with oxygen in a fuel cell to power electric motors or burning hydrogen in an internal combustion engine, which is less common.