Rapid Growth Forecasted for Global Hydrogen Bus Market
Key Ideas
  • The Global Hydrogen Bus Market is projected to reach US$ 10.2 billion by 2031 with a CAGR of 29.4% from 2024-2031.
  • Key players in the market include Hyundai, Ballard Power Systems, and Toyota, who are actively involved in deploying hydrogen buses.
  • Industry developments such as Toyota's plans for hydrogen buses in the Paris 2024 Olympics and the unveiling of Hyundai's hydrogen-powered bus signify significant strides in zero-emission urban mobility.
  • The report provides comprehensive insights on market trends, growth opportunities, and regional analysis, highlighting regions like North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
The Global Hydrogen Bus Market has witnessed remarkable growth, reaching US$ 1.3 billion in 2023 and is projected to reach US$ 10.2 billion by 2031, indicating a significant CAGR of 29.4% during the forecast period 2024-2031. The market report by DataM Intelligence offers detailed insights into key market trends, growth opportunities, and emerging challenges. Leading players such as Hyundai Motor Company, Ballard Power Systems, and Toyota Motor Corporation are actively involved in the deployment of hydrogen buses, which operate using hydrogen fuel cells producing only water vapor as a byproduct. Notable developments include Toyota's plans to deploy hydrogen buses for the Paris 2024 Olympics and the unveiling of Hyundai's IVECO BUS E-WAY H2 at Busworld 2023, showcasing advancements in hydrogen storage and electric powertrain technologies. The report covers market segments by bus type, technology, power output, application, and end-user, providing a comprehensive overview of the market landscape. Regional analysis includes North America, Europe, Asia Pacific, South America, and the Middle East & Africa, offering insights into market trends specific to each region. The report also outlines the benefits of SWOT analysis, PESTEL analysis, and forecast in the global market, along with a descriptive analysis of demand-supply gap and Porter's five forces model. Overall, the sentiment towards hydrogen buses in the article is positive, highlighting the sustainable and efficient nature of hydrogen-powered public transport vehicles.
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