Asia-Pacific Fuel Cell Vehicles Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

The Asia-Pacific Fuel Cell Vehicles Market is segmented by Vehicle Type ( Commercial Vehicles, Passenger Vehicles ) and by Country ( Australia, China, India, Indonesia, Japan, Malaysia, South Korea, Thailand, Rest-of-APAC )

APAC Fuel Cell Vehicles Market Size

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Asia-Pacific Fuel Cell Vehicles Market
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Icons Lable Value
https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2016 - 2029
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 1.65 Billion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 7.93 Billion
https://s3.mordorlabs.com/passenger_vehicles/1629285650768_test~passenger_vehicles_passenger_vehicles.svg Largest Share by Vehicle Type Commercial Vehicles
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 36.89 %
https://s3.mordorintelligence.com/globe/1629285706162_test~globe_globe.svg Largest Share by Country South Korea

Major Players

major-player-company-image major-player-company-image major-player-company-image major-player-company-image

*Disclaimer: Major Players sorted in no particular order

Key Players

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APAC Fuel Cell Vehicles Market Analysis

The Asia-Pacific Fuel Cell Vehicles Market size is estimated at USD 1.65 billion in 2024, and is expected to reach USD 7.93 billion by 2029, growing at a CAGR of 36.89% during the forecast period (2024-2029).

  • Fastest-growing by country - Japan : Japan is one of the major players in the APAC FCEV electric vehicle industry due to its significant production capacity and customer demand for electric vehicles.
  • Largest Segment by Country - South Korea : The adoption of e mobility and stringent norms and developments by various auto companies are fueling the growth of fuel-cell electric cars in South Korea.
  • Largest Segment by Vehicle Type - Commercial Vehicles : Due to the growing demand for passenger vehicles and the scarcity of alternative electric vehicle types in the region, the passenger vehicle segment accounts for the majority of EV sales.

APAC Fuel Cell Vehicles Market Trends

This section covers the major market trends shaping the APAC Fuel Cell Vehicles Market according to our research experts:

Commercial Vehicles is the largest segment by Vehicle Type.

Asia-Pacific Fuel Cell Vehicles Market

South Korea is the largest segment by Country.

Asia-Pacific Fuel Cell Vehicles Market

APAC Fuel Cell Vehicles Industry Overview

The Asia-Pacific Fuel Cell Vehicles Market is fragmented, with the top five companies occupying 16.47%. The major players in this market are Daihatsu Motor Co., Ltd., Honda Motor Company, Ltd., Hyundai Motor Company, Isuzu Motors Ltd. and Toyota Motor Corporation (sorted alphabetically).

APAC Fuel Cell Vehicles Market Leaders

  1. Daihatsu Motor Co., Ltd.

  2. Honda Motor Company, Ltd.

  3. Hyundai Motor Company

  4. Isuzu Motors Ltd.

  5. Toyota Motor Corporation

*Disclaimer: Major Players sorted in no particular order

Asia-Pacific Fuel Cell Vehicles Market
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APAC Fuel Cell Vehicles Market Report - Table of Contents

  1. 1. EXECUTIVE SUMMARY & KEY FINDINGS

  2. 2. REPORT OFFERS

  3. 3. INTRODUCTION

    1. 3.1 Study Assumptions & Market Definition

    2. 3.2 Scope of the Study

    3. 3.3 Research Methodology

  4. 4. KEY INDUSTRY TRENDS

    1. 4.1 Population

    2. 4.2 GDP

    3. 4.3 CVP

    4. 4.4 Inflation Rate

    5. 4.5 Interest Rate For Auto Loans

    6. 4.6 Battery Price (per Kwh)

    7. 4.7 Logistics Performance Index

    8. 4.8 Electrification Impact

    9. 4.9 New XEV Models Announced

    10. 4.10 Charging Stations Deployment

    11. 4.11 Regulatory Framework

    12. 4.12 Value Chain & Distribution Channel Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Vehicle Type

      1. 5.1.1 Commercial Vehicles

        1. 5.1.1.1 Buses

        2. 5.1.1.2 Heavy-duty Commercial Trucks

        3. 5.1.1.3 Light Commercial Pick-up Trucks

        4. 5.1.1.4 Light Commercial Vans

        5. 5.1.1.5 Medium-duty Commercial Trucks

      2. 5.1.2 Passenger Vehicles

    2. 5.2 Country

      1. 5.2.1 Australia

      2. 5.2.2 China

      3. 5.2.3 India

      4. 5.2.4 Indonesia

      5. 5.2.5 Japan

      6. 5.2.6 Malaysia

      7. 5.2.7 South Korea

      8. 5.2.8 Thailand

      9. 5.2.9 Rest-of-APAC

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Key Strategic Moves

    2. 6.2 Market Share Analysis

    3. 6.3 Company Landscape

    4. 6.4 Company Profiles

      1. 6.4.1 BYD Co. Ltd

      2. 6.4.2 Daihatsu Motor Co., Ltd.

      3. 6.4.3 Dongfeng Motor Corporation

      4. 6.4.4 Ford Motor Company

      5. 6.4.5 Honda Motor Company, Ltd.

      6. 6.4.6 Hyundai Motor Company

      7. 6.4.7 Isuzu Motors Ltd.

      8. 6.4.8 Toyota Motor Corporation

  7. 7. KEY STRATEGIC QUESTIONS FOR VEHICLES CEOS

  8. 8. APPENDIX

    1. 8.1 Global Overview

      1. 8.1.1 Overview

      2. 8.1.2 Porter's Five Forces Framework

      3. 8.1.3 Global Value Chain Analysis

      4. 8.1.4 Market Dynamics (DROs)

    2. 8.2 Sources & References

    3. 8.3 List of Tables & Figures

    4. 8.4 Primary Insights

    5. 8.5 Data Pack

    6. 8.6 Glossary of Terms

List of Tables & Figures

  1. Figure 1:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, POPULATION YOY GROWTH RATE, MILLION UNITS, 2016 – 2026
  1. Figure 2:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, GDP YOY GROWTH RATE, USD MILLION, 2016 – 2026
  1. Figure 3:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, CVP YOY GROWTH RATE, 2016 – 2027
  1. Figure 4:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, INFLATION RATE YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 5:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, INTEREST RATE FOR AUTO LOANS YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 6:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BATTERY PRICES YOY GROWTH RATE, 2016 – 2026
  1. Figure 7:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, LPI YOY GROWTH RATE, 2016 – 2026
  1. Figure 8:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, ELECTRIFICATION IMPACT, VOLUME, YOY GROWTH RATE, PERCENT, 2016 – 2026
  1. Figure 9:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, NEW XEV MODELS ANNOUNCED, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
  1. Figure 10:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, CHARGING STATIONS DEPLOYMENT, VOLUME, YOY GROWTH RATE, UNITS, 2016 – 2026
  1. Figure 11:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, VOLUME IN UNITS, 2016 – 2026
  1. Figure 12:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, VALUE IN USD, 2016 – 2026
  1. Figure 13:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY VEHICLE TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 14:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY VEHICLE TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 15:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2016 - 2028
  1. Figure 16:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2016 - 2028
  1. Figure 17:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY SUB BODY TYPE, BY VOLUME IN UNITS, 2016-2028
  1. Figure 18:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY SUB BODY TYPE, BY VALUE IN USD, 2016-2028
  1. Figure 19:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2016
  1. Figure 20:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET MARKET, SHARE(%), BY SUB BODY TYPE, 2016 - 2016
  1. Figure 21:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY BUSES, BY VOLUME IN UNITS, 2016-2028
  1. Figure 22:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY BUSES, BY VALUE IN USD, 2016-2028
  1. Figure 23:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2021 - 2028
  1. Figure 24:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 25:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY HEAVY-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2016-2028
  1. Figure 26:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2021 - 2028
  1. Figure 27:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 28:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY LIGHT COMMERCIAL PICK-UP TRUCKS, BY VALUE IN USD, 2016-2028
  1. Figure 29:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2021 - 2028
  1. Figure 30:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY LIGHT COMMERCIAL VANS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 31:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY LIGHT COMMERCIAL VANS, BY VALUE IN USD, 2016-2028
  1. Figure 32:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2021 - 2028
  1. Figure 33:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VOLUME IN UNITS, 2016-2028
  1. Figure 34:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY MEDIUM-DUTY COMMERCIAL TRUCKS, BY VALUE IN USD, 2016-2028
  1. Figure 35:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2021 - 2028
  1. Figure 36:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY PASSENGER VEHICLES, BY VOLUME IN UNITS, 2016-2028
  1. Figure 37:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY PASSENGER VEHICLES, BY VALUE IN USD, 2016-2028
  1. Figure 38:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2021 - 2028
  1. Figure 39:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY COUNTRY, BY VOLUME IN UNITS, 2016-2028
  1. Figure 40:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY COUNTRY, BY VALUE IN USD, 2016-2028
  1. Figure 41:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 42:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET MARKET, SHARE(%), BY COUNTRY, 2016 - 2028
  1. Figure 43:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY AUSTRALIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 44:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY AUSTRALIA, BY VALUE IN USD, 2016-2028
  1. Figure 45:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 46:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY CHINA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 47:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY CHINA, BY VALUE IN USD, 2016-2028
  1. Figure 48:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 49:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY INDIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 50:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY INDIA, BY VALUE IN USD, 2016-2028
  1. Figure 51:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 52:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY INDONESIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 53:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY INDONESIA, BY VALUE IN USD, 2016-2028
  1. Figure 54:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 55:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY JAPAN, BY VOLUME IN UNITS, 2016-2028
  1. Figure 56:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY JAPAN, BY VALUE IN USD, 2016-2028
  1. Figure 57:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 58:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY MALAYSIA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 59:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY MALAYSIA, BY VALUE IN USD, 2016-2028
  1. Figure 60:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 61:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY SOUTH KOREA, BY VOLUME IN UNITS, 2016-2028
  1. Figure 62:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY SOUTH KOREA, BY VALUE IN USD, 2016-2028
  1. Figure 63:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 64:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY THAILAND, BY VOLUME IN UNITS, 2016-2028
  1. Figure 65:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY THAILAND, BY VALUE IN USD, 2016-2028
  1. Figure 66:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 67:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY REST-OF-APAC, BY VOLUME IN UNITS, 2016-2028
  1. Figure 68:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, BY REST-OF-APAC, BY VALUE IN USD, 2016-2028
  1. Figure 69:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET MARKET, SHARE(%), BY VEHICLE TYPE, 2021 - 2028
  1. Figure 70:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, MOST ACTIVE COMPANIES, BY NUMBER OF STRATEGIC MOVES, 2018 - 2021
  1. Figure 71:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
  1. Figure 72:  
  2. ASIA-PACIFIC FUEL CELL VEHICLES MARKET SHARE(%), BY MAJOR PLAYERS, 2021

APAC Fuel Cell Vehicles Industry Segmentation

Commercial Vehicles, Passenger Vehicles are covered as segments by Vehicle Type. Australia, China, India, Indonesia, Japan, Malaysia, South Korea, Thailand, Rest-of-APAC are covered as segments by Country.
Vehicle Type
Commercial Vehicles
Buses
Heavy-duty Commercial Trucks
Light Commercial Pick-up Trucks
Light Commercial Vans
Medium-duty Commercial Trucks
Passenger Vehicles
Country
Australia
China
India
Indonesia
Japan
Malaysia
South Korea
Thailand
Rest-of-APAC
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Market Definition

  • Body Type - It includes passenger cars, buses, light commercial vehicles, medium& heavy-duty vehicles, medium and heavy-duty buses, trucks, M&HDT.
  • Engine Type -
  • Fuel Type -
  • Sub Body Type -
  • Vehicle Type - It includes passenger vehicles and commercial vehicles.
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Research Methodology

Mordor Intelligence follows a four-step methodology in all our reports.

  • Step-1: Identify Key Variables: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
  • Step-2: Build a Market Model: Market-size estimations for the historical and forecast years have been provided in revenue and volume terms. For sales conversion to volume, the average selling price (ASP) is kept constant throughout the forecast period for each country, and inflation is not a part of the pricing.
  • Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
  • Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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APAC Fuel Cell Vehicles Market Research FAQs

The Asia-Pacific Fuel Cell Vehicles Market size is expected to reach USD 1.65 billion in 2024 and grow at a CAGR of 36.89% to reach USD 7.93 billion by 2029.

In 2024, the Asia-Pacific Fuel Cell Vehicles Market size is expected to reach USD 1.65 billion.

Daihatsu Motor Co., Ltd., Honda Motor Company, Ltd., Hyundai Motor Company, Isuzu Motors Ltd. and Toyota Motor Corporation are the major companies operating in the Asia-Pacific Fuel Cell Vehicles Market.

In the Asia-Pacific Fuel Cell Vehicles Market, the Commercial Vehicles segment accounts for the largest share by vehicle type.

In 2024, South Korea accounts for the largest share by country in the Asia-Pacific Fuel Cell Vehicles Market.

In 2023, the Asia-Pacific Fuel Cell Vehicles Market size was estimated at USD 1.13 billion. The report covers the Asia-Pacific Fuel Cell Vehicles Market historical market size for years: 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Fuel Cell Vehicles Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Asia-Pacific Fuel Cell Vehicles Industry Report

Statistics for the 2024 Asia-Pacific Fuel Cell Vehicles market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Fuel Cell Vehicles analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Asia-Pacific Fuel Cell Vehicles Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029