Significant surge in demand for fuel cells in automotive and transportation, increase in stringent emission norms

WILMINGTON, NEW CASTLE, DE, UNITED STATES, October 16, 2024 /EINPresswire.com/ -- The 𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐏𝐨𝐰𝐞𝐫𝐞𝐝 𝐄𝐧𝐠𝐢𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market. The global hydrogen powered engine market is expected to be valued at $34.7 billion in 2030, and is projected to reach $87.3 billion by 2040, growing at a CAGR of 10.4% from 2031 to 2040.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 380 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/A07807

Based on installation, the OEM segment held the largest market share in 2030, holding a projected market share nearly three-fourths of the global market, and is expected to maintain its leadership status during the forecast period. The retrofit segment, on the other hand, is predicted to cite the fastest CAGR of 12.0% during the forecast period.

The report offers a detailed segmentation of the global hydrogen powered engine market based on installation, technology, application, propulsion, and region.

Europe region is expected to dominate the market in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. The increase in government regulation for vehicle emission and increase in R&D expenditure by OEMs for the development of hydrogen powered vehicles are driving the growth of hydrogen powered engine market in the region. For instance, the European Union is committed to reducing vehicular emissions by 80% by 2050, from the 1990 levels, by focusing on encouraging the adoption of green vehicles.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/hydrogen-powered-engine-market/purchase-options

Based on technology, the proton membrane exchange segment held the largest market share in 2030, holding a projected market share occupying nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 11.5% during the forecast period.

There are prominent key factors that drive the growth of the hydrogen powered engine market, such as increase in government initiatives to encourage the adoption of fuel cell vehicles, rise in demand for fuel cells in automotive and transportation, and increase in demand for passenger transportation.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

𝐁𝐀𝐋𝐋𝐀𝐑𝐃 𝐏𝐎𝐖𝐄𝐑 𝐒𝐘𝐒𝐓𝐄𝐌𝐒 𝐈𝐍𝐂, 𝐁𝐀𝐄 𝐬𝐲𝐬𝐭𝐞𝐦𝐬, 𝐓𝐨𝐲𝐨𝐭𝐚, 𝐀𝐢𝐫𝐬𝐩𝐚𝐜𝐞 𝐄𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬, 𝐈𝐧𝐜, 𝐖𝐚𝐛𝐭𝐞𝐜, 𝐓𝐡𝐚𝐥𝐞𝐬 𝐆𝐫𝐨𝐮𝐩, 𝐃𝐞𝐞𝐫𝐞 𝐂𝐨𝐦𝐩𝐚𝐧𝐲, 𝐀𝐥𝐢𝐬𝐩𝐨𝐫𝐭 𝐒𝐫𝐥, 𝐃𝐨𝐨𝐬𝐚𝐧 𝐌𝐨𝐛𝐢𝐥𝐢𝐭𝐲 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧, 𝐀𝐄𝐑𝐎𝐃𝐄𝐋𝐅𝐓, 𝐆𝐊𝐍 𝐀𝐞𝐫𝐨𝐬𝐩𝐚𝐜𝐞 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐋𝐢𝐦𝐢𝐭𝐞𝐝, 𝐂𝐮𝐦𝐦𝐢𝐧𝐬 𝐈𝐧𝐜, 𝐔𝐑𝐁𝐀𝐍 𝐀𝐄𝐑𝐎𝐍𝐀𝐔𝐓𝐈𝐂𝐒 𝐋𝐓𝐃, 𝐀𝐩𝐮𝐬 𝐆𝐫𝐨𝐮𝐩, 𝐄𝐌𝐁𝐑𝐀𝐄𝐑 𝐒.𝐀., 𝐀𝐥𝐬𝐭𝐨𝐦, 𝐇𝐢𝐭𝐚𝐜𝐡𝐢, 𝐁𝐞𝐥𝐥 𝐓𝐞𝐱𝐭𝐫𝐨𝐧 𝐈𝐧𝐜, 𝐙𝐄𝐑𝐎𝐀𝐕𝐈𝐀, 𝐈𝐍𝐂., 𝐒𝐢𝐞𝐦𝐞𝐧𝐬 𝐌𝐨𝐛𝐢𝐥𝐢𝐭𝐲

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A07807

Based on region, the global hydrogen powered engine market size across Europe held the dominating market share in 2030, garnering a projected market share occupying nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same region is expected to cite the fastest CAGR of 11.3% during the forecast period. The other regions analyzed in the report include North America, Asia-Pacific, LAMEA, and Europe.

Based on application, the roadways segment held the dominating market share in 2030, holding a projected market share of nearly three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The marine segment, on the other hand, is expected to cite the fastest CAGR of 13.1% during the forecast period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A07807

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By installation, the retrofit segment is expected to register a significant growth during the forecast period.

By technology, the proton membrane exchange segment is projected to lead the global hydrogen powered engine market.

By application, the marine segment is projected to lead the global hydrogen powered engine market during the forecast period.

By Propulsion, the electric segment is projected to lead the global hydrogen powered engine market during the forecast period

Region-wise, Europe is anticipated to register the highest CAGR during the forecast period.

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

In Car Audio System Market - https://www.alliedmarketresearch.com/in-car-audio-system-market-A74460

Automotive Child Presence Detection System Market - https://www.alliedmarketresearch.com/automotive-child-presence-detection-system-market-A115343

Automotive Over-the-Air (OTA) Market - https://www.alliedmarketresearch.com/automotive-over-the-air-ota-market-A07270

David Correa
Allied Market Research
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