Asia Pacific Hydrogen Fuel Cell Train Market Forecast to 2030 - Regional Analysis - by Technology (Proton Exchange Membrane Fuel Cell, Phosphoric Acid Fuel Cell, and Others), Component (Hydrogen Fuel Cell Pack, Batteries, Electric Traction Motors, and Others), and Rail Type (Passenger Rail, Commuter Rail, Light Rail, Trams, Freight, and Others)
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; it is estimated to grow at a CAGR of 12.2% from 2022 to 2030.
Increasing Proliferation of Proton Exchange Membrane Fuel Cell Technology Bolsters Asia Pacific Hydrogen Fuel Cell Train Market
Fuel cells primarily work on the principle of electrochemical reaction by converting chemical energy into electrical power. One of the most promising technologies of fuel cells is the Proton Exchange Membrane (PEM). The PEM fuel cell technology is most suitable for automotive applications owing to its high-power density. The function of PEM fuel cells can be reversed for O2 and H2 generation by using a water electrolysis process. The reverse technology of PEM fuel cells is a promising option for storing excess renewable power. When renewable power generation is more than the required amount, surplus renewable energy can be used to generate H2, and later, it can be converted back to electricity using PEM (Proton Exchange Membrane) fuel cell technology. The key end use of PEM fuel cells emphasizes transportation mainly because of its possible influence on the environment, like reducing the emission of greenhouse gases. Other uses include portable and distributed or stationary power production. In addition, the hydrogen fuel cell is a budding electrification technology that can offer mobility and reduced noise features for military vehicles while delivering high torque with scalable energy capacities. The growing technological evolution and more ongoing research are anticipated to boost the application of different fuel cell technologies in the near future.
Asia Pacific Hydrogen Fuel Cell Train Market Overview
Increasing focus on reducing environmental pollution and controlling carbon footprint in the transportation sector is a major driving factor for the Asia Pacific hydrogen fuel cell train market. Growing pollution, urbanization, and industrialization are boosting the need for expanded transportation networks. The mounting awareness of the advantages of utilizing hydrogen as a prime element for powering vehicles and trains and its environmental viability boosts the Asia Pacific hydrogen fuel cell trains market. China, South Korea, Australia, Japan, and India are a few of the major contributors to the hydrogen fuel cell train market. Companies such as CRRC Corporation Ltd., IHI Corporation, and Hyundai Corporation are launching environment-friendly alternatives in the transportation sector to lower carbon emissions. The growing government initiatives toward boosting carbon neutrality in countries such as India, Japan, China, and Australia also positively impact the hydrogen fuel cell train market. For instance, in 2023, Indian Railways collaborated with the United States Agency to increase and incorporate renewable energy sources in Indian railway infrastructure. Through this agreement, the United States Agency will provide technical support to Indian Railways to boost renewable shares in the overall rail transport sector. In 2023, the Indian Railways declared to operate 35 hydrogen fuel cell trains per the "Hydrogen for Heritage" initiative. The project aims to revolutionize the railway infrastructure by incorporating hydrogen as the key alternative to fossil fuels. 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.
Asia Pacific Hydrogen Fuel Cell Train Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Hydrogen Fuel Cell Train Market Segmentation
The Asia Pacific hydrogen fuel cell train market is bifurcated based on technology, component, rail type, and country. Based on technology, the Asia Pacific hydrogen fuel cell train market is segmented into proton exchange membrane fuel cell, phosphoric acid fuel cell, and others. The proton exchange membrane fuel cell segment held the largest market share in 2022.
Based on component, the Asia Pacific hydrogen fuel cell train market is segmented into hydrogen fuel cell pack, batteries, electric traction motors, and others. The hydrogen fuel cell pack segment held the largest market share in 2022.
Based on rail type, the Asia Pacific hydrogen fuel cell train market is segmented into passenger rail, commuter rail, light rail, trams, freight, and others. The commuter rail segment held the largest market share in 2022.
Based on country, the Asia Pacific hydrogen fuel cell train market is segmented into Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific hydrogen fuel cell train market share in 2022.
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 are some of the leading companies operating in the Asia Pacific hydrogen fuel cell train market.
Table of Content
1. Introduction
1.1 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Hydrogen Fuel Cell Train Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 Component Supplier
4.2.2 Hydrogen Fuel Cell Train Manufacturer
4.2.3 End Users
4.2.4 List of Hydrogen Fuel Cell Suppliers
5. Asia Pacific Hydrogen Fuel Cell Train Market - Key Industry Dynamics
5.1 Hydrogen Fuel Cell Train Market - Key Industry Dynamics
5.2 Market Drivers
5.2.1 Increasing Environmental Concerns and Reducing Greenhouse Gas Emissions
5.2.2 Technological and Infrastructure Development in Transportation Sector
5.2.3 Growing Efficiency of Hydrogen-Driven Vehicles
5.2.4 Increasing Demand for Public Transportation Connectivity
5.3 Market Restraints
5.3.1 High Capital Requirement for Developing Hydrogen Fuel Cell Technology
5.3.2 High Risk, Cost, and Regulatory Framework Associated with Hydrogen Procurement
5.4 Market Opportunities
5.4.1 Increasing Proliferation of Proton Exchange Membrane Fuel Cell Technology
5.5 Future Trends
5.5.1 Growing Advent of Hydrogen Fuel Cell Technology in Transportation
5.6 Impact of Drivers and Restraints:
6. Hydrogen Fuel Cell Train Market - Asia Pacific Market Analysis
6.1 Hydrogen Fuel Cell Train Market Revenue (US$ Million), 2022 - 2030
6.2 Hydrogen Fuel Cell Train Market Forecast and Analysis
7. Asia Pacific Hydrogen Fuel Cell Train Market Analysis - Technology
7.1.1 Hydrogen Fuel Cell Train Market, By Technology (2022 and 2030)
7.2 Proton Exchange Membrane Fuel Cell
7.2.1 Overview
7.2.2 Proton Exchange Membrane Fuel Cell Market, Revenue and Forecast to 2030 (US$ Million)
7.3 Phosphoric Acid Fuel Cell
7.3.1 Overview
7.3.2 Phosphoric Acid Fuel Cell Market, Revenue and Forecast to 2030 (US$ Million)
7.4 Others
7.4.1 Overview
7.4.2 Others Market, Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific Hydrogen Fuel Cell Train Market Analysis - Component
8.1.1 Hydrogen Fuel Cell Train Market, By Component (2022 and 2030)
8.2 Hydrogen Fuel Cell Pack
8.2.1 Overview
8.2.2 Hydrogen Fuel Cell Pack Market, Revenue and Forecast to 2030 (US$ Million)
8.3 Batteries
8.3.1 Overview
8.3.2 Batteries Market, Revenue and Forecast to 2030 (US$ Million)
8.4 Electric Traction Motors
8.4.1 Overview
8.4.2 Electric Traction Motors Market, Revenue and Forecast to 2030 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others Market, Revenue and Forecast to 2030 (US$ Million)
9. Asia Pacific Hydrogen Fuel Cell Train Market Analysis - Rail Type
9.1.1 Hydrogen Fuel Cell Train Market, By Rail Type (2022 and 2030)
9.2 Passenger Rail
9.2.1 Overview
9.2.2 Passenger Rail Market, Revenue and Forecast to 2030 (US$ Million)
9.3 Commuter Rail
9.3.1 Overview
9.3.2 Commuter Rail Market, Revenue and Forecast to 2030 (US$ Million)
9.4 Light Rail
9.4.1 Overview
9.4.2 Light Rail Market, Revenue and Forecast to 2030 (US$ Million)
9.5 Trams
9.5.1 Overview
9.5.2 Trams Market, Revenue and Forecast to 2030 (US$ Million)
9.6 Freight
9.6.1 Overview
9.6.2 Freight Market, Revenue and Forecast to 2030 (US$ Million)
10. Asia Pacific Hydrogen Fuel Cell Train Market - Country Analysis
10.1 Asia Pacific
10.1.1 Overview
10.1.2 Asia Pacific Hydrogen Fuel Cell Train Market Revenue and Forecasts and Analysis - By Country
10.1.2.1 Australia Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.2 China Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.2.1 China Hydrogen Fuel Cell Train Market Breakdown by Technology
10.1.2.2.2 China Hydrogen Fuel Cell Train Market Breakdown by Component
10.1.2.2.3 China Hydrogen Fuel Cell Train Market Breakdown by Rail Type
10.1.2.3 India Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.3.1 India Hydrogen Fuel Cell Train Market Breakdown by Technology
10.1.2.3.2 India Hydrogen Fuel Cell Train Market Breakdown by Component
10.1.2.3.3 India Hydrogen Fuel Cell Train Market Breakdown by Rail Type
10.1.2.4 Japan Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.4.1 Japan Hydrogen Fuel Cell Train Market Breakdown by Technology
10.1.2.4.2 Japan Hydrogen Fuel Cell Train Market Breakdown by Component
10.1.2.4.3 Japan Hydrogen Fuel Cell Train Market Breakdown by Rail Type
10.1.2.5 South Korea Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.5.1 South Korea Hydrogen Fuel Cell Train Market Breakdown by Technology
10.1.2.5.2 South Korea Hydrogen Fuel Cell Train Market Breakdown by Component
10.1.2.5.3 South Korea Hydrogen Fuel Cell Train Market Breakdown by Rail Type
10.1.2.6 Rest of APAC Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn)
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 TWI Ltd
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 CRRC Corp Ltd
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Hyundai Rotem Co
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Talgo SA
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Ballard Power Systems Inc
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Alstom SA
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Siemens Mobility GmbH
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Westinghouse Air Brake Technologies Corp
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About The Insight Partners
List of Tables
Table 1. List of Vendors in the Value Chain
Table 2. Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Million) - Technology
Table 4. Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Million) - Component
Table 5. Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Million) - Rail Type
Table 6. China Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn) - Technology
Table 7. China Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn) - Component
Table 8. China Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn) - Rail Type
Table 9. India Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn) - Technology
Table 10. India Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn) - Component
Table 11. India Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn) - Rail Type
Table 12. Japan Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn) - Technology
Table 13. Japan Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn) - Component
Table 14. Japan Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn) - Rail Type
Table 15. South Korea Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn) - Technology
Table 16. South Korea Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn) - Component
Table 17. South Korea Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn) - Rail Type
List of Figures
Figure 1. Hydrogen Fuel Cell Train Market Segmentation, By Country
Figure 2. Ecosystem: Hydrogen Fuel Cell Train Market
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Hydrogen Fuel Cell Train Market Revenue (US$ Million), 2022 - 2030
Figure 5. Hydrogen Fuel Cell Train Market Share (%) - Technology, 2022 and 2030
Figure 6. Proton Exchange Membrane Fuel Cell Market Revenue and Forecasts to 2030 (US$ Million)
Figure 7. Phosphoric Acid Fuel Cell Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Hydrogen Fuel Cell Train Market Share (%) - Component, 2022 and 2030
Figure 10. Hydrogen Fuel Cell Pack Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. Batteries Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Electric Traction Motors Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. Hydrogen Fuel Cell Train Market Share (%) - Rail Type, 2022 and 2030
Figure 15. Passenger Rail Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. Commuter Rail Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. Light Rail Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. Trams Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. Freight Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. Asia Pacific Hydrogen Fuel Cell Train Market, by Key Country - Revenue (2022) (US$ Million)
Figure 21. Hydrogen Fuel Cell Train Market Breakdown by Key Country, 2022 and 2030 (%)
Figure 22. China Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 23. India Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 24. Japan Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 25. South Korea Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Mn)
1. TWI Ltd
2. CRRC Corp Ltd
3. Hyundai Rotem Co
4. Talgo SA
5. Ballard Power Systems Inc
6. Alstom SA
7. Siemens Mobility GmbH
8. Westinghouse Air Brake Technologies Corp
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