Global Hydrogen Fuel Cell Train Market was valued at $2.3 billion in 2021 and it is expected to reach $45.3 billion at a CAGR of 27.2% between 2022 and 2032.
MILWAUKEE, WISCONSIN, UNITED STATES, April 20, 2022 /EINPresswire.com/ — According to a market report, published by Sheer Analytics and Insights, the total hydrogen fuel cell train market was valued at $2.3 billion in 2021 and it is expected to reach $45.3 billion at a CAGR of 27.2% between 2022 and 2032. The world’s first hydrogen fuel cell train is Alstom Coradia iLint and it is an operational passenger train. This train is completely emission-free and it emits only water vapor and condensation. This hydrogen fuel cell train is specifically designed for use on non-electrified routes. Almost 46% of the railways are non-electrified across the European region. Replacing one diesel train with a hydrogen fuel cell train would decrease annually carbon dioxide emissions equivalent to nearly 400 cars. In Germany world’s first hydrogen fuel cell train had operated for more than one year for regular passenger service and it covered nearly 180,000 kilometers.
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In other European countries such as Italy, more than 6 hydrogen fuel cell trains would operate for daily passengers over the upcoming periods. Poland is one of the largest hydrogen fuel cell markets across the Europe region. The country is holding the fifth position in the European market. 14% of hydrogen is generated by Poland’s hydrogen market across the region which is used in the hydrogen fuel cell train industries. As an essential hydrogen producer, Poland might have the opportunity to develop and expand its industrial solution to export hydrogen fuels to other countries and other regions. However, Germany is the first country in Europe to launch a hydrogen fuel cell train for commercial purposes.
In other European countries manufacturing companies are trying to invest in producing more advanced hydrogen and fuel cell technologies to make the production of hydrogen fuel cell trains more available in the market, so they could export their engine productions to other developing countries at an affordable price. However, hydrogen fuel cells are not new in this modern technological world. The first instances of hydrogen fuel cells had appeared in a London-based magazine. Now, after 200 years of that publication people are very much recognizing hydrogen fuel cells as a major technology that is expected to drive the growth of the market over the forecast period. Therefore manufacturing companies are scaling up their hydrogen fuel cell train business to help meet the needs of customers who want to live a better lifestyle by emitting trains and vehicles which produce carbon-related pollutants.
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Indian railway department is trying to develop hydrogen fuel cell technology to reduce the consumption of diesel in the country. The government of India is planning to replace Diesel Electric Multiple units (DEMU) with an alternative which is called hydrogen fuel cell train. This plan is expected to reduce greenhouse gas emissions over the forecast period from 2022 and 2032. Key players such as Coradia iLint, Cummins Inc., Hyundai Motor Company, Honda Motor Limited, Daimler AG, General Motors, Toyota Motor Corporation, BNSF Railway (North America), and other companies are leading the hydrogen fuel cell train market across the globe.
The Global Hydrogen Fuel Cell Train Market Has Been Segmented Into:
Global Hydrogen Fuel Cell Train Market – By Type
Global Hydrogen Fuel Cell Train Market – By Technology
Alkaline Fuel Cell
Proton Exchange Membrane Fuel Cell
Solid Oxide Fuel Cell
Global Hydrogen Fuel Cell Train Market – By Region
Rest of the Europe Countries
Rest of the Asian Countries
Latin America, Middle East & Africa (LAMEA):
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