Market Size of asia-pacific fuel cell vehicles Industry
| Icons | Lable | Value |
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Study Period | 2016 - 2029 |
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Market Size (2024) | USD 1.65 Billion |
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Market Size (2029) | USD 7.93 Billion |
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Largest Share by Vehicle Type | Commercial Vehicles |
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CAGR (2024 - 2029) | 36.89 % |
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Largest Share by Country | South Korea |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
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.
