Developing Renewable Energy Infrastructure Projected To Boost The Growth Of Hydrogen Buses Market

The global hydrogen buses market is estimated to be valued at US$ 10.78 Bn in 2023 and is expected to exhibit a CAGR of 47% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

The hydrogen buses market covers buses that use hydrogen as fuel stored either in compressed or liquid form to generate electricity that powers the buses. Hydrogen fuel cell buses produce zero tailpipe emissions and provide an alternative to diesel buses. They are advantageous over diesel and CNG buses as they have a higher mileage range of upto 450 kms on a single charge and can be refueled faster than electric buses. Their quick refueling allows fleet operators to deploy these buses for longer routes without needing battery swapping infrastructure.

Market key trends:

One of the major trends in the hydrogen buses market is growing investments by governments worldwide to develop hydrogen refueling infrastructure. Countries like China, Japan, Germany, France and UK have announced large public-private partnerships to establish hydrogen stations along major bus routes and highways. This is boosting the adoption of FCEV buses as fleet operators can rely on a developed refueling network. Another key trend is the declining costs of fuel cell systems as renewable hydrogen production costs are falling with technological improvements. This is enhancing the competitiveness of hydrogen buses compared to legacy fuel-based buses.

Porter’s Analysis

Threat of new entrants: Low capital requirements and access to technology lower the threat of new entrants in the hydrogen buses market. However, established brand image and customer loyalty of existing key players pose entry barriers.

Bargaining power of buyers: Large fleet operators have significant bargaining power compared to individual buyers. They can negotiate on price and demand additional services.

Bargaining power of suppliers: Major components such as fuel cells and hydrogen storage systems are supplied by few specialized manufacturers globally. This gives them pricing leverage over bus OEMs.

Threat of new substitutes: Hybrid electric buses are gaining popularity as they offer competitive operational costs without requiring extensive fueling infrastructure changes. Electric buses also emerge as substitutes.

Competitive rivalry: Presence of leading international brands intensifies competition. Players focus on expanding product portfolios, lowering costs and supplying zero-emission mobility solutions.

Key Takeaways

The Global Hydrogen Buses Market Demand  is expected to witness high growth, exhibiting CAGR of 47% over the forecast period, due to increasing preference for clean fuel buses among public transport authorities and governments supporting development of hydrogen infrastructure.

The Asia Pacific region is expected to dominate the hydrogen buses market owing to large procurement plans of China, Japan and South Korea. Chinese original equipment manufacturers have also entered supply agreements with several European nations.

Key players operating in the hydrogen buses market include Ballard Power Systems, Toyota Motor Corporation, Hyundai Motor Company, New Flyer Industries, Van Hool, Wrightbus, Solaris Bus & Coach, CaetanoBus, Alexander Dennis Limited (ADL), and MAN Energy Solutions. These companies have significant presence across major markets and focus on expanding fleet deployments.



Leave a Comment

Si prega di attivare i Javascript! / Please turn on Javascript!

Javaskripta ko calu karem! / Bitte schalten Sie Javascript!

S'il vous plaît activer Javascript! / Por favor, active Javascript!

Qing dakai JavaScript! / Qing dakai JavaScript!

Пожалуйста включите JavaScript! / Silakan aktifkan Javascript!Better Stop Adblock