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Latest Research report on Fuel Cell Market predicts favorable growth and forecast till 2018

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Geeta Desai
Latest Research report on Fuel Cell Market predicts favorable growth and forecast till 2018

The global fuel cell market size is set to witness a high CAGR during the forecast period, 2019 – 2026. Increase in demand for hybrid vehicles is propelling the market growth. Government policies for reduction in carbon emissions encourages the use of plug-in hybrid vehicles and electric vehicles. Also, fuel cells continue to serve as an alternative to conventional energy sources thus reducing the dependency on oil, petrol and diesel.

In 2017, the market for fuel cell was around 25% which at the moment it is around 44-50% which is still showing optimistic growth. As car companies are significantly investing more money on battery electric vehicles, the market is slightly competitive for fuel cell vehicles as the magnitude of consumer demand for fuel cells is comparatively moderate as compared with battery operated vehicles. For instance, auto industry in China witnesses reduction in subsidies for BEV and is encouraging the use of fuel cell vehicles.

Get PDF Sample Copy of this Report @ https://dataintelo.com/request-sample/?reportId=504

In addition, demand for a carbon-free society raises the expectations from the automotive industry in the global scenario. And to leverage this, fuel cells are transitioning the industry phase at a rapid pace thanks to ongoing innovations, investments and constant research and development. Japan and South Korea are pivotal in deploying fuel cell cars attributing to the presence of key vendors such as Hyundai and Toyota.

Read More @ https://www.marketwatch.com/press-release/fuel-cell-market-global-growth-opportunities-industry-analysis-forecast-to-2026-2019-12-02

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Geeta Desai
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