Advanced Batteries & Energy Storage Research
Oct 11, 2021
Decarbonizing Road Transport: A $160 Billion Role for Fuel Cells
Incorporating a fuel cell into an electric vehicle powertrain, generating electricity from hydrogen, offers a technology pathway that delivers the critical reduction in on-road exhaust emissions whilst overcoming the potential range and charging limitations of battery electric vehicles (BEV). IDTechEx's analysis in their new report, "Fuel Cell Electric Vehicles 2022-2042", forecasts the market value of on-road fuel cell vehicles will grow to $160 billion in 2042 at a CAGR of 23.9% over the 20-year forecast period.