New York, July 25, 2023 (GLOBE NEWSWIRE) — The global hydrogen vehicle market size is slated to expand at ~45% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 45 billion by the end of 2035, up from a revenue of ~USD 1 billion in the year 2022.  The major factor driving the growth of the market is the growing preference for fuel-efficient cars such as hydrogen vehicles. In 2021, globally, the sales of hydrogen cars were about 15,400 units. When operating, this kind of vehicle emits only water, which renders the environment fully unharmed. Due to the high fuel value of hydrogen, vehicles powered by it have ranges that are comparable to those of combustion engines and have rapid recharging times, exactly like LPG. Hence, there are considered to be fuel efficient which is in high demand.

(GlobeNewsWire)