Fuel Cell Electric Vehicle Market to Emerge by 2015

Japanese and South Korean automakers are optimistic about commercialising fuel cell electric vehicles (FCEV) by 2015, according to a new report by Frost & Sullivan.

The report has found that automakers in the region are planning to commercialise FCEVs, with the aim of producing 58,100 units in 2020, up from 600 units in 2011.

Commenting on the report, Vijayendra Rao, Research Manager at Frost & Sullivan Automotive & Transportation Practice, Asia Pacific cites that in 2011, the market for such vehicles in Japan and South Korea was limited to concept cars or leased fleets in urban areas, but OEMs were now prepared for a 2015 commercialisation of FCEVs.

This research covers in detail the FCEV markets in Japan and South Korea, including industry challenges, market drivers and restraints, market share analysis, value chain analysis, supply chain analysis, market size and forecasts.

Also covered in detail by the report are infrastructure trends, a scenario analysis and recommendations for Japan and South Korea. Rao adds that’s both Japanese and South Korean governments are working towards the development of a hydrogen refuelling infrastructure that is expected to grow to 1,452 stations in 2020.

This follows the same level of commitment, in recent months, from European governments and automakers – such as from the Nordic countries.

Honda is expected to be the market leader in the FCEV market in Japan and South Korea in 2020 with a 41.8 per cent market share. South Korea’s Hyundai and Japan’s Toyota are expected to command market shares of 17.4 percent and 17.2 percent, respectively.

CEO’s 360 Degree Analysis of Fuel Cell Electric Vehicle Market in Japan and South Korea is part of Frost & Sullivan’s Automotive & Transportation Growth Partnership Service.

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