Hydrogen Vehicle Market is developing rapidly with Volvo and Daimler launching a joint venture to develop hydrogen-based fuel cell technology to power heavy goods vehicles
A Hydrogen Vehicle is simply a form of alternative power vehicle which makes use of hydrogen fuel as motive power instead of gasoline. Hydrogen vehicles come with hydrogen-powered space shuttles, cars, and other transport vehicles. This alternative power source has been around for quite some time now. There have been numerous reports that reveal a great deal of potential in using hydrogen. When it comes to regional impact, Asia Pacific seems to exhibit a positive outlook in the hydrogen vehicle market. This is due to growing adoption of hydrogen fuel cells and rapid industrialization in emerging economies such as China and India. On the contrary, Europe is registering significant traction as regional governments are implementing stringent regulations on carbon emissions. Over the years, governments of many countries have started investing in the development of hydrogen fuel cell infrastructure. Recently, in May 2021, the Government of Germany announced to launch ...