Fuel Cell Vehicle Sales to Total 2.8 Million By 2020

Feb. 26, 2010
New study says fuel cell cars and trucks will surpass 2.8 million vehicles globally by 2020.

With fleets of fuel cell vehicles (FCVs) in the hundreds and the increasing utilization of fuel cells in commercial vehicles, it appears that light duty FCVs will be commercialized by mid-decade. According to a new report from Pike Research, fuel cell vehicles will be commercially launched in most regions of the world by 2014, and cumulative sales of fuel cell cars and trucks will surpass 2.8 million vehicles globally by 2020.

"Fuel cell vehicles have been an elusive goal for the automotive industry," says industry analyst Dave Hurst, "but they are on the verge of commercial reality. With substantial support from the largest automakers, the pressure is on gas companies and governments to make sure that hydrogen fueling stations are available to support this emerging market." Hurst adds that five key automakers are early leaders in FCV programs: Daimler AG, General Motors, Honda, Hyundai and Toyota.

Pike Research forecasts that Western Europe will be the leading region for FCV sales with a 37% share of the world market, followed closely by Asia Pacific with 36%. FCV sales in North America will represent approximately 25% of global sales during the period from 2014 to 2020. The cleantech market intelligence firm anticipates that FCV revenues will reach $23.9 billion annually by 2020.

Copyright Agence France-Presse, 2010

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