Fuel cell transit buses will be at the frontlines of the fuel cell vehicle (FCV) movement, according to the “Fuel Cell Vehicles” report from Pike Research.
Sales of fuel cell vehicles should exhibit a compound annual growth rate of 31.7 percent by 2015.
Fuel cell light vehicles are expected to be commercially launched in 2014 in most regions of the world, and their sales should reach almost 670,000 vehicles per year by 2020.
The United States will be the largest market for FCVs in 2020 (134,049 FCVs), followed by China (129,241 FCVs) and Germany (126,783 FCVs).
Here are some other highlights of the report:
– FCV research will reach $4 billion in 2010.
– FCV research is expected to climb to $5.13 billion globally in 2016, representing a compound annual growth rate (CAGR) of 3.3 percent. This research spending is expected to grow in 2015 and 2016 as automakers meet their commitments to introduce vehicles to the marketplace.