The Future of Fuel Cell Electric Vehicles (FCEVs) in the Zero-Emissions Market
Key Ideas
- Battery electric vehicles (BEVs) dominate the zero-emissions market, outselling FCEVs significantly, especially in passenger cars.
- For commercial vehicles, BEVs offer a competitive total cost of ownership against internal combustion engine vehicles, while FCEVs struggle with upfront costs and hydrogen availability.
- Despite challenges, IDTechEx anticipates a role for FCEVs in the zero-emissions landscape in the next 20 years, with new models from manufacturers like Hyundai and BMW and ongoing improvements in fuel cell technology and hydrogen infrastructure.
- Issues persist for FCEVs but the market is evolving, presenting opportunities for FCEVs in various vehicle segments while also highlighting the need for addressing challenges for wider adoption.
Battery electric vehicles have become the preferred choice in the zero-emissions vehicle market, with significantly higher sales compared to fuel cell electric vehicles, particularly in passenger cars. The total cost of ownership for commercial vehicles like buses and trucks favors BEVs over internal combustion engine vehicles due to challenges faced by FCEVs in upfront costs, availability, and pricing of hydrogen. Despite these hurdles, IDTechEx sees a future for FCEVs in the next two decades. This optimism is supported by the upcoming release of new FCEV models by major manufacturers such as Hyundai and BMW and advancements in fuel cell technology and the hydrogen infrastructure. The challenges for FCEVs are acknowledged, but the outlook includes opportunities for FCEVs across different vehicle segments, emphasizing the need for addressing current barriers to wider adoption.
Topics
Public Transit
Infrastructure
Electric Vehicles
Fuel Cell Technology
Commercial Vehicles
Zero Emissions
OEMs
IDTechEx
Total Cost Of Ownership
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