According to a market report by Lucintel, the future of the hydrogen fuel cell train market looks promising with opportunities in the passenger train, and freight train market. The global hydrogen fuel cell train market is expected to grow with a CAGR of 28% to 30% from 2023 to 2028. The major drivers for this market are increasing railway infrastructure and transportation industry growth, surge in environmental concerns, and rise in demand for public transport services.
, Proton exchange membrane fuel cell, and phosphoric acid fuel cell are the major segments of hydrogen fuel cell train market by technology. Lucintel forecast that proton exchange membrane fuel cell will remain the largest segment over the forecast period due to increase in use of proton exchange membrane fuel cells as energy sources in trains to reduce CHE emissions, and requirements of high R&D investments.
Within this market, passenger train is expected to remain the largest segment due to increase in demand for public transportation across the globe, and growing number of R&D activities in hydrogen fuel cell technology coupled with rising logistics and transportation sector.
Europe will remain the fastest growing region due to increase in government support for zero emission technology from European Union, and 46% of the railways are non-electrified across the European region.
Alstom, Ballard Power Systems, BNSF Railway, CAF group, CRRC Corporation, ENGIE, Hitachi, Hyundai Corporation, and IHI Corporation are the major suppliers in the global hydrogen fuel cell train market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global hydrogen fuel cell train market by component, technology, rail type, application, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Hydrogen Fuel Cell Train Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global hydrogen fuel cell train market by component, technology, rail type, application, and region, as follows:
Hydrogen Fuel Cell Train Market by Component [Value ($B) Shipment Analysis from 2017 to 2028]:
· Hydrogen Fuel Cell Pack
· Batteries
· Electric Traction Motors
· Others
Hydrogen Fuel Cell Train Market by Technology [Value ($B) Shipment Analysis from 2017 to 2028]:
· Proton Exchange Membrane Fuel Cell
· Phosphoric Acid Fuel Cell
· Others
Hydrogen Fuel Cell Train Market by Rail Type [Value ($B) Shipment Analysis from 2017 to 2028]:
· Passenger Rail
· Commuter Rail
· Light Rail
· Trams
· Freight
· Others
Hydrogen Fuel Cell Train Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
· Passenger Train
· Freight Train
· Others
Hydrogen Fuel Cell Train Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
· North America
· Europe
· Asia Pacific
· The Rest of the World
A more than 150 pages and in-depth TOC on “Global Hydrogen Fuel Cell Train Market". To download report brochure, please go to
https://www.lucintel.com and click "report brochure" tab from the menu.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the hydrogen fuel cell train market by component (hydrogen fuel cell pack, batteries, electric traction motors, and others), technology (proton exchange membrane fuel cell, phosphoric acid fuel cell, and others), rail type (passenger rail, commuter rail, light rail, trams, freight, and others), application (passenger train, freight train, and others) and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?