At 12.2% CAGR, the Asia Pacific Hydrogen Fuel Cell Train Market is Projected to be worth US$ 1,150.34 million by 2030, says Business Market Insights

According to Business Market Insights research, the Asia Pacific hydrogen fuel cell train market was valued at US$ 458.19 million in 2022 and is expected to reach US$ 1,150.34 million by 2030, registering a CAGR of 12.2% from 2022 to 2030. Technological and infrastructure development in transportation sector and increasing demand for public transportation connectivity are among the critical factors attributed to the Asia Pacific hydrogen fuel cell train market expansion.

Hydrogen-driven trains, battery-operated hybrid trains, hyperloop technology, and electrification in the railway transportation sector are some of the major emerging trends in the transportation sector to boost the propaganda of increasing efficiency and decarbonization. The growing focus on sustainable and environment-friendly alternatives to mitigate environmental pollution is boosting the demand for hydrogen-driven trains as an eco-friendly option in the transportation sector. Companies such as Talgo, Alstom, Ballard Power Systems, and Hyundai are key companies working on developing hydrogen fuel cell trains worldwide. In 2023, Hyundai Rotem introduced its hydrogen-driven trams for passengers in South Korea. The advanced hydrogen-driven transportation project started in 2021 and was supported by the South Korean Ministry of Trade, Industry, and Energy. In addition, in 2023, China introduced a 100-mph hydrogen fuel cell train with supercapacitor technology. CRRC and Chengdu Rail Transit combined developed the train. Growing government initiatives such as funding projects and infrastructure development drive the hydrogen fuel cell trains market. For example, in 2023, the Indian Railways declared to operate 35 hydrogen fuel cell trains as per the "Hydrogen for Heritage" initiative. The project aims to revolutionize the railway infrastructure by incorporating hydrogen as the key alternative to fossil fuels. The growing advent of cutting-edge railway facilities and overall infrastructure evolution is a major driver for the Asia Pacific hydrogen fuel cell hydrogen market.

On the contrary, high capital requirement for developing hydrogen fuel cell technology hampers the growth of Asia Pacific hydrogen fuel cell train market.

Based on technology, the Asia Pacific hydrogen fuel cell train market is categorized into proton exchange membrane fuel cell, phosphoric acid fuel cell, and others. The proton exchange membrane fuel cell segment held 100.0% market share in 2022, amassing US$ 458.19 million. It is projected to garner US$ 1,150.34 million by 2030 to expand at 12.2% CAGR during 2022-2030.

Based on component, the Asia Pacific hydrogen fuel cell train market is categorized into hydrogen fuel cell pack, batteries, electric traction motors, and others. The hydrogen fuel cell pack segment held 38.2% share of Asia Pacific hydrogen fuel cell train market in 2022, amassing US$ 174.92 million. It is projected to garner US$ 421.56 million by 2030 to expand at 11.6% CAGR during 2022-2030.

Based on rail type, the Asia Pacific hydrogen fuel cell train market is categorized into passenger rail, commuter rail, light rail, trams, freight, and others. The commuter rail segment held 94.9% share of Asia Pacific hydrogen fuel cell train market in 2022, amassing US$ 434.69 million. It is projected to garner US$ 1,071.38 million by 2030 to expand at 11.9% CAGR during 2022-2030.

Based on country, the Asia Pacific hydrogen fuel cell train market has been categorized into Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 80.4% share of Asia Pacific hydrogen fuel cell train market in 2022. It was assessed at US$ 368.27 million in 2022 and is likely to hit US$ 861.95 million by 2030, exhibiting a CAGR of 11.2% during 2022-2030.

Key players operating in the Asia Pacific hydrogen fuel cell train market are TWI Ltd, CRRC Corp Ltd, Hyundai Rotem Co, Talgo SA, Ballard Power Systems Inc, Alstom SA, Siemens Mobility GmbH, and Westinghouse Air Brake Technologies Corp, among others.

• In May 2023, PoweredByBallard: PESA's New Hydrogen Fuel Cell Locomotive.
  
  
• In Feb 2021, Alstom's Coradia iLint, the world's first hydrogen-powered passenger train, will demonstrate green traction in Quebec.

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