Lucintel Forecasts Hydrogen Fuel Cell Train Market to Reach $XX Billion by 2028

Market-Research

According to the recent study the hydrogen fuel cell train market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 28% to 30% from 2023 to 2028. Growth in this market is primarily driven by increasing railway infrastructure and transportation industry growth, surge in environmental concerns, and rise in demand for public transport services.

Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in hydrogen fuel cell train market by component (hydrogen fuel cell pack, batteries, electric traction motors, and others), technology (proton exchange membrane fuel cell, phosphoric acid fuel cell, and others), rail type (passenger rail, commuter rail, light rail, trams, freight, and others), application (passenger train, freight train, and others) and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Proton exchange membrane fuel cell market is expected to remain the largest segment during the forecast period.”

Based on technology, the hydrogen fuel cell train market is segmented into proton exchange membrane fuel cell, phosphoric acid fuel cell, and others. Lucintel forecasts that the proton exchange membrane fuel cell market is expected to remain the largest segment due to increase in use of proton exchange membrane fuel cells as energy sources in trains to reduce CHE emissions, and requirements of high R&D investments.

“Within the hydrogen fuel cell train market, the passenger train segment is expected to remain the largest application”

Based on application the passenger train segment is expected to witness the highest growth over the forecast period due to increase in demand for public transportation across the globe, and growing number of R&D activities in hydrogen fuel cell technology coupled with rising logistics and transportation sector.

“Europe will dominate the hydrogen fuel cell train market in near future”

Europe will remain the fastest growing region due to increase in government support for zero emission technology from European Union, and 46% of the railways are non-electrified across the European region.

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Major players of hydrogen fuel cell train market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Alstom, Ballard Power Systems, BNSF Railway, CAF group, CRRC Corporation, ENGIE, Hitachi, Hyundai Corporation, and IHI Corporation are among the major hydrogen fuel cell train providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/hydrogen-fuel-cell-train-market.aspx or helpdesk@lucintel.com

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times. For further information, visit www.lucintel.com

Contact:
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751

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