NEW YORK, June 29, 2021 /PRNewswire/ — The surging requirement for automobiles with low carbon emissions, because of the implementation of stringent carbon emission norms, and rapid advancements being made in the fuel cell technology are expected to power the global fuel cell electric vehicle market during 2021–2030.
Fuel cell electric vehicle market generated revenue of $3,059.5 million in 2020, the COVID-19 pandemic has hampered the progress of the fuel cell electric vehicle market. Because of the imposition of lockdowns in several countries, manufacturing activities have come to a halt. The ripple effects were clearly visible in crude prices, which fell into negatives. In addition to the falling crude prices, the high cost of the fuel cell electric vehicles also negatively impacted their sales, thereby affecting the market growth.
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The fuel cell electric vehicle market is divided into commercial vehicle and passenger vehicle categories,…
