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Hydrogen Buses Market is Expected to Drive Emissions Reduction in Public Transport Sector

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naufan
Hydrogen Buses Market is Expected to Drive Emissions Reduction in Public Transport Sector

Hydrogen buses offer zero emission mobility and are powered by fuel cells that convert chemical energy from hydrogen into electricity to run motors. Hydrogen buses produce only water and heat as by-products and provide longer range than electric buses. Adoption of hydrogen powered buses helps reduce dependency on fossil fuels and lower emission from public transportation systems.

The global Hydrogen Buses Market is estimated to be valued at US$ 10.78 Bn in 2023 and is expected to exhibit a CAGR of 47% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The adoption of hydrogen buses is gaining traction primarily due to stringent emission norms worldwide aimed at curbing air pollution from public transportation. Various countries and city transport bodies are providing subsidies and incentivizing transition to zero or low emission vehicles including hydrogen buses. Bus manufacturers are also actively investing in developing more advanced and affordable hydrogen fuel cell technology for commercial vehicles. Series of pilot projects and demonstration runs of hydrogen buses across major cities in Europe, North America, and Asia Pacific are showcasing reliability and performance of this green technology. This is encouraging bulk procurement of hydrogen buses by municipal transportation bodies.

Segment Analysis

The global hydrogen buses market is dominated by fuel cell electric buses (FCEB) segment. Currently, FCEBs account for over 70% of the global hydrogen buses market as they offer better performance compared to conventional batteries in electric buses. FCEBs utilize hydrogen as fuel through a fuel cell to generate electricity and have a longer driving range of over 300 km on a single charge. Additionally, refilling hydrogen takes less time compared to recharging batteries, thus making FCEBs a preferred choice over electric buses especially for intracity and intercity transportation over long distances.

Key Takeaways

The Global Hydrogen Buses Market Size is expected to witness high growth. Regional analysis related content comprises Asia Pacific region is expected to dominate the global hydrogen buses market during the forecast period. Countries like China, Japan and South Korea are rapidly deploying hydrogen buses for public transportation to reduce carbon emissions. For instance, China has a target of having over 1 million fuel cell vehicles including buses on the road by 2030.

The global hydrogen buses market is expected to witness high growth. Regional analysis related content comprises Asia Pacific region is expected to dominate the global hydrogen buses market during the forecast period. Countries like China, Japan and South Korea are rapidly deploying hydrogen buses for public transportation to reduce carbon emissions. For instance, China has a target of having over 1 million fuel cell vehicles including buses on the road by 2030.

Key players related content comprises Key players operating in the hydrogen buses market are Ballard Power Systems, Toyota Motor Corporation, Hyundai Motor Company, New Flyer Industries, Van Hool, Wrightbus, Solaris Bus & Coach, CaetanoBus, Alexander Dennis Limited (ADL), MAN Energy Solutions.


Get more insights on this topic:

https://www.dailyprbulletin.com/hydrogen-buses-market-insights-trends/

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