BOULDER, Colo.--(BUSINESS WIRE)--A recent report from Navigant Research analyzes the market for fuel cell passenger cars and buses, including its drivers and barriers, with global sales forecasts, through 2024.
Today’s fuel cell vehicles (FCVs) can be refilled in three to five minutes and can reach ranges of 300 miles or more between refills. Fuel cell stack efficiencies have also incrementally increased over time, and several automakers are developing vehicles that will be able to achieve ranges of more than 400 miles between refills. Click to tweet: According to a recent report from @NavigantRSRCH, global sales of fuel cell cars and buses are expected to total more than 580,000 from 2015 to 2024.
“Manufacturers are pursuing fuel cells to meet the needs of larger, longer-range vehicles,” says Lisa Jerram, principal research analyst with Navigant Research. “Overall, the driver for FCV activity continues to be the sentiment that a diverse drivetrain mix will be needed if the transportation sector is to shift away from petroleum dependence.”
As FCV sales increase in coming years, there will be a need for more vehicle charging stations across a larger geography, according to the report. The most commercially viable locations remain in dense city centers, where as many owners as possible may access them without significant inconvenience.
The report, Fuel Cell Vehicles, assesses the state of global fuel cell passenger car and bus development and progress made in addressing the main barriers to successful commercialization. The study discusses the top government initiatives to support this goal and the key infrastructure and cost issues related to FCVs. Global sales forecasts of FCVs, segmented by region (North America, Europe, Asia Pacific, and Rest of World), extend through 2024. The report also examines the prospects for fuel cell cars and buses to reach widespread commercial deployment and compete against other technologies and profiles a few of the key players in the FCV market. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Fuel Cell Vehicles, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.