SOUTH KOREA FUEL CELL VEHICLE MARKET

INTRODUCTION

The impact of the population increase on rising pollution levels and the requirement to successfully cut carbon emissions has influenced the trend toward clean fuels and green technology.

This has had a favorable effect on the demand for FCV in recent years. The current shift from traditional fuel automobiles to eco-friendly vehicles has raised the demand for FCVs. 

Other reasons including strict environmental restrictions, the availability of incentives and subsidies for clean fuels, and hazardous gas emissions from combustion engine automobiles are fueling the market expansion.

In addition, the industry's growth has been sped up by manufacturers developing alternative powertrains in response to growing public concern over automobile pollution.

SOUTH KOREA FUEL CELL VEHICLE MARKET SIZE AND FORECAST

The South Korea 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

The Hyundai Motor Group supports hydrogen as the best source of sustainable energy. The South Korean carmaker said that it will provide hydrogen fuel cell versions of all its commercial cars using its new fuel cell system, which it hopes to introduce soon.

During a webcast of the automaker's Hydrogen Wave presentation, Hyundai revealed its hydrogen future plan.

The Vision FK, is a high-performance, rear-wheel-drive hydrogen sports vehicle with a 500kW fuel cell system that can propel it from 0 to 100 kilometres per hour in less than four seconds and has a range of 600 kilometres (373 miles), was also shown by the business.

When the car would go into production was not disclosed by Hyundai. Hyundai's dedication to hydrogen does not interfere with its dedication to electric.

By offering hydrogen-powered fuel cells and electrolyzers that generate renewable hydrogen, Bloom Energy declared its entry into the commercial hydrogen industry. Through a broadened cooperation with SK Engineering and Construction, a subsidiary of SK Group, these goods will be initially made available on the South Korean market.

In order for South Korea to implement its government-mandated Hydrogen Economy Roadmap, Bloom's technologies are essential.

Kia is anticipated to start by pursuing the military market. In addition to power generation trucks and emergency generators powered by hydrogen fuel cells, it also contains military hydrogen electric vehicles. The plan then is to add the passenger car line to the mix.

Kia is anticipated to encourage the conversion of military-provided command vehicles (Mohave) and 2.5-ton and 5-ton trucks to hydrogen electric cars. Additionally, it aims to transform current power sources like diesel generators, disposable main batteries, and rechargeable secondary batteries into hydrogen-powered electricity.

COMPANY PROFILE

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

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. What is the average cost perSouth Korea Fuel Cell Vehicle Marketright now and how will it change in next 5-6 years?
2. Average cost to set up aFuel Cell Vehicle MarketinSouth Korea?
3. How manySouth Korea 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 aSouth Korea Fuel Cell Vehicle Marketand key vendor selection criteria
6. Where is theSouth Korea Fuel Cell Vehicle Marketmanufactured? What is the average margin per equipment?
7. Market share ofSouth Korea Fuel Cell Vehicle Marketmanufacturers and their upcoming products
8. The most important plannedSouth Korea Fuel Cell Vehicle Marketin next 2 years
9. Details on network of majorSouth Korea Fuel Cell Vehicle Marketand pricing plans
10. Cost advantage for OEMs who manufactureSouth Korea Fuel Cell Vehicle Marketin-house
11. 5 key predictions for next 5 years inSouth Korea Fuel Cell Vehicle Market
12. Average B-2-BSouth Korea Fuel Cell Vehicle Marketprice in all segments
13. Latest trends inSouth Korea Fuel Cell Vehicle Market, by every market segment
14. The market size (both volume and value) ofSouth Korea Fuel Cell Vehicle Marketin 2022-2027 and every year in between?
15. Global production breakup ofSouth Korea Fuel Cell Vehicle Market, by suppliers and their OEM relationship