Hydrogen Fuel Cell Vehicle - The Future of Automotive Industry

 Hydrogen fuel cell vehicles utilizes a hydrogen fuel cell to power its on-board electric motor. Hydrogen is used to operate a hydrogen fuel cell to generate electricity. Hydrogen fuel cell vehicles possess high potential to reduce emissions related to the transportation sector. This vehicle does not generate any greenhouse gas (GHG) emissions during vehicle operation unlike diesel-powered and gasoline vehicles. 

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Owing to rise in concerns of environment degradation and depletion of natural resources, various technologies are being launched in the market that support the eco-friendly concept to sustain the environment. Moreover, increase in awareness toward the consequences of air pollution and rise in levels of traffic & greenhouse gas emission drive the adoption of hydrogen fuel cell vehicles, as it is eco-friendly than other conventional vehicles.  

Gasoline being a fossil fuel is not a renewable source of energy and is expected to exhaust in the future. It is important to develop and use alternative sources of fuel to support sustainable development. This involves use of hydrogen fuel cell vehicles, electric vehicles, which do not use gasoline and are economical when compared with conventional vehicles. For instance, an electric vehicle converts over 50% of the electrical energy from the grid to power at the wheels, whereas the gas-powered vehicle only manages to convert about 17%–21% of the energy stored in gasoline. 

The hydrogen fuel cell vehicles are more efficient over IC engine vehicles and hybrid vehicles and has efficiency of 60-70% over the other two. The demand for fuel-efficient vehicles has increased recently owing to rise in price of petrol and diesel. This has also resulted due to depleting fossil fuel reserves and growth in tendency of companies to gain maximum profit from these oil reserves. Thus, these factors boost the need for advanced fuel-efficient technologies, leading to surge in demand for hydrogen fuel cell vehicles for travel.

 Hydrogen fueling station has gained tremendous focus after the successful recent progress with cell electric vehicles, which came into existence depending on hydrogen power. Some companies find the ease of manufacturing fuel cell electric vehicles (FCEVs). The initial rollout of fuel cell electric vehicles is supported by the increased number of retail hydrogen fueling locations in select markets. In many developed countries, companies are even offering to start manufacturing FCEVs for sale or lease to customers in markets where hydrogen fuel is available, primarily in California. Focus should be placed on hydrogen fuel as the future fuel to replace the existing gasoline or electric engine vehicles. Therefore, increase in demand for vehicles, which cause less pollution, is going to drive the growth of the hydrogen fueling station market over the forecast period.

Key Market Players

• AUDI AG
• BALLARD POWER SYSTEMS
• BMW GROUP
• DAIMLER AG
• GENERAL MOTORS 
• HONDA MOTOR 
• HYUNDAI MOTOR GROUP
• MAN SE
• TOYOTA MOTOR 
• VOLVO GROUP

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