Global Hydrogen Powered Bicycles Market Expected to Reach XX Million by 2025
According to a new report published by Reports Monitor titled, “Hydrogen Powered Bicycles Market by End Use: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the Hydrogen Powered Bicycles Market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025.
Climate protection is one of the central issues around the world which emphasis on clean energy. Many organizations are working on replacing fossil fuels and other non-renewable energy sources with clean energy. Solar, wind and water are the examples of clean energy. By electrolyzing process water can be split into Hydrogen and Oxygen. Hydrogen can be further use as a fuel to generate power. In the case of bicycle, hydrogen from the tank is fed to the fuel cell and Oxygen from air combines with hydrogen. Resultant electricity runs the bicycles motor and emission from this process is water vapors.
Need for clean energy is the major driver for growth of this market. There are many countries which announced ban on petrol-diesel vehicles in coming years. Easy refilling, cost effective nature, low maintenance, zero emissions are some of the growth drivers for this market. Lack of proven technology, high cost, and low awareness about hydrogen as a fuel among customers is some of the restraints for growth of this market.
Hydrogen powered bicycle market can be segmented on the basis of applications, includes the bike rentals operators, courier & delivery companies, Municipal Fleet and others. North America is expected to be the largest market for fluorescent pigments.
Key Question Answered:
• What will be the market size in 2025 and at what rate it will grow?
• What trends, barriers, challenges are influencing its growth?
• Who are the major key players in global Hydrogen Powered Bicycles Market and what are their strategies?
• Which vertical industry is expected to show major growth?
• What segment and region will lead the market and why?
The major companies profiled in the report include: Pragma Industries, Linde Group, Pearl Hydrogen, Manhattan Scientifics, Honda, and others. Currently, only Pragma has started factory production for hydrogen powered bicycles.
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