According to Cognitive Market Research, the global Hydrogen Fuel Cell Vehicle market size will be USD 215.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 49.50% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 86.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 47.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 64.56 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 49.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 51.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 10.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 48.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 4.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 49.2% from 2024 to 2031.
The Commercial Vehicle category is the fastest growing segment of the Hydrogen Fuel Cell Vehicle industry
