Hydrogen-powered fuel cell electric vehicles (FCEVs) are associated with just a handful of regions today, huddled mainly in Southeast Asia and California. The hope is that FCEVs will gradually spread outside of these hubs and filter into mass markets around the world. For now, that remains something of a distant dream.
Forecasting the global rollout of FCEVs is challenging given that demand varies wildly across different vehicle segments. As such, the FCEV market should be separated by passenger car, light commercial vehicle and medium- and heavy-duty commercial vehicles. Bharath Kumar Srinivasan, Senior Industry Analyst, Frost & Sullivan, explains that while each sector has its variables, there are a few overriding trends.
“From a passenger vehicle perspective, Southeast Asia is of course number one, with Japan and South Korea currently the key markets. The entire ecosystem there supports this move and the local OEMs are invested in FCEVs,” he explained. “We see it as
