Japan Fuel Cell Vehicle Market Size, Share, Trends, Growth Analysis and Forecasts 2031

INTRODUCTION

Growing environmental concerns and increased demand for clean electrical energy are anticipated to be key market factors.

The market for fuel cell vehicles in Japan is anticipated to expand as a result of the growing demand for clean energy amid worries about the environmental effect of energy production from conventional sources like coal and natural gas.

The development of the Japanese fuel cell car market has been somewhat constrained by the technology's infancy and relatively high cost.

Due to a variety of variables, including an increase in investments in hydrogen cars and a rise in the number of fuel cell-based vehicles in the nation, the transportation industry is predicted to see substantial growth.

JAPAN FUEL CELL VEHICLE MARKET SIZE AND FORECAST

The Japan Fuel Cell Vehicle Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.

MARKET DYNAMICS

In an effort to popularize the use of fuel cells and support the gradual realization of a clean, renewable hydrogen society, Japan's Isuzu Motors Limited and Honda R&D Co., Ltd., an R&D subsidiary of Honda Motor Co., Ltd., signed an agreement to collaborate on research on the use of hydrogen fuel cells to power heavy-duty trucks.

The specifics of the agreement that would serve as the cornerstone for further Isuzu and Honda drivetrain development cooperation were laid out. 

Honda has been studying and developing fuel cell automobiles in addition to battery-electric and hybrid vehicles, while Isuzu has been developing and researching powertrains or alternative fuel options including electric vehicles (EV) and engines for natural gas.

The goal of the collaboration between Toyota and partners developing fuel cell-powered light electric trucks is to introduce them to Japan. Together, Isuzu, Hino, and Toyota Motor Corporation are stepping up their efforts to electrify buses in Japan in the direction of the country becoming carbon neutral. 

Together with Commercial Japan Partnership Technologies Co., Ltd., the businesses hope to boost customer alternatives, lower car costs, and spread awareness of useful and sustainable electric vehicles by growing their product selection.

To assist in the development of the hydrogen fuel cell system that would power its futuristic prototype city Woven City, Toyota has hired the Japanese firm ENEOS. Toyota's "human-centered" metropolis of the future will be made possible by ENEOS, a Japanese oil corporation that is making significant investments in hydrogen. 

This new alliance could aid Japan in achieving its aim of carbon neutrality while also showing Toyota's support for hydrogen over electric.

RECENT LAUNCH

The newly rebuilt "Mirai" fuel cell electric vehicle was unveiled today by Toyota Motor Corporation (Toyota) (FCEV). FCEVs are powered by hydrogen, a fuel that can be created from a variety of energy sources and helps to protect the environment while boosting energy security.

There are two grades available: the entry-level G grade and the top-tier Z grade. The "Executive Package," which offers more comfort as a luxury car, is offered, and both classes come with plenty of roomy and comfy back seats.

COMPANY PROFILE

• Honda Motors Co. Ltd.
• Toyota Motors
• Daimler AG
• Hitachi, Ltd.
• Hyundai Motor Company
• Nikola Corporation
• Ballard
• Volvo AB
• Audi AG
• General Motors
• BMW AG

THIS REPORT WILL ANSWER THE FOLLOWING QUESTIONS

1. What is the average cost perJapan Fuel Cell Vehicle Marketright now and how will it change in next 5-6 years?
2. Average cost to set up aFuel Cell Vehicle MarketinJapan?
3. How manyJapan Fuel Cell Vehicle Marketare manufactured per annum globally? Who are the sub-component suppliers in different regions?
4. What is happening in the overall public, globally?
5. Cost breakup of aJapan Fuel Cell Vehicle Marketand key vendor selection criteria
6. Where is theJapan Fuel Cell Vehicle Marketmanufactured? What is the average margin per equipment?
7. Market share ofJapan Fuel Cell Vehicle Marketmanufacturers and their upcoming products
8. The most important plannedJapan Fuel Cell Vehicle Marketin next 2 years
9. Details on network of majorJapan Fuel Cell Vehicle Marketand pricing plans
10. Cost advantage for OEMs who manufactureJapan Fuel Cell Vehicle Marketin-house
11. 5 key predictions for next 5 years inJapan Fuel Cell Vehicle Market
12. Average B-2-BJapan Fuel Cell Vehicle Marketprice in all segments
13. Latest trends inJapan Fuel Cell Vehicle Market, by every market segment
14. The market size (both volume and value) ofJapan Fuel Cell Vehicle Marketin 2025-2031 and every year in between?
15. Global production breakup ofJapan Fuel Cell Vehicle Market, by suppliers and their OEM relationship