New Report Predicts 20 Million Hydrogen Vehicles by 2032

September 20th, 2016 by Fiedler Group

In a new report published by Information Trends, over 20 million vehicles fueled by hydrogen are expected to be sold by the year 2032.

The report, entitled “Global Market for Hydrogen Fuel Cell Vehicles,” noted that by the year 2020, there will be a sufficient infrastructure of hydrogen-fueling service stations in place, providing a solid and stable base for hydrogen fuel cell vehicles.

This growth — across the next 16 years — accounts for cumulative revenues as much as $1.2 trillion in the automotive industry.

Hydrogen fuel cell vehicles — offering zero emission capabilities — are expected to be the fastest growing auto segment by the year 2050.

Automakers including Toyota, Honda, and Hyundai have already released hydrogen fuel cell production vehicles into the market, with other automakers expecting to do the same, fueling product competition.

Most recently, Hyundai has planned to produce its own vehicle to compete with the likes of Toyota and Honda.

Throughout its history, Fiedler Group has partnered with its energy partners to develop a number of different hydrogen generation and distribution fueling applications, with services including design, engineering, and station permitting.

To learn more about Fiedler Group’s expertise in the alternative fuel industry, please contact us today.