ON-ROAD HYDROGEN VEHICLES EXCEED 1 MILLION GLOBALLY BY 2027 - JUNIPER RESEARCH

KUALA LUMPUR, June 21 (Bernama) -- A new study from Juniper Research has found the number of hydrogen vehicles in service globally will exceed one million in 2027, from just over 60,000 in 2022 – a substantial growth of over 1,500 per cent.

According to a statement, Juniper Research defines hydrogen vehicles as vehicles that use hydrogen propulsion systems as their onboard fuel. The chemical energy of hydrogen and oxygen reacts with the fuel cell and converts the energy to electricity.

The research identified hydrogen vehicles as an increasingly viable alternative to BEVs (Battery Electric Vehicles). The potential for enhanced range and rapid refuelling compares favourably with BEVs; reducing customer anxieties around BEV ownership.

These positives have led to significant investment by car manufacturers, including Hyundai, Toyota and BMW, and this will translate into an increasingly popular and available product over the next five years.

The research forecasts that the consumer market will lead the hydrogen vehicle space, with consumer vehicles accounting for over 60 per cent of hydrogen vehicles in service globally in 2027.

Additionally, the report identified the low availability of fuelling infrastructure as a key challenge for wider adoption, but highlighted heavy industry investment as key to reducing this concern over the next five years.

The report recommends that infrastructure vendors provide ‘green’ hydrogen, produced using renewable energy sources, to best take advantage of concerns around the environment driving the adoption of alternative fuels.

Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports, and industry commentary.

-- BERNAMA