Navigant: Global sales of fuel cell vehicles to surpass 580K through 2024

Friday July 22, 2016 0 comments Tags: Boulder, Navigant Research, Lisa Jerram, fuel cells

BOULDER -- Global sales of fuel cell cars and buses are expected to total more than 580,000 from 2015 to 2024, according to a new report from Navigant Research.

The report analyzes the market for fuel cell passenger cars and buses, including its drivers and barriers, with global sales forecasts, through 2024.NavigantNEWlogoUSE

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, the report notes.

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

“Manufacturers are pursuing fuel cells to meet the needs of larger, longer-range vehicles,” said Lisa Jerram, Navigant principal research analyst.

“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.