More than 20 million hydrogen-powered vehicles by 2032

Over 20 million hydrogen fuel cell vehicles would be sold cumulatively by 2032, according to a landmark report published by Information Trends.

A new report gives hydrogen fuelling a huge boost as it tips fuel cell vehicles to increase their number by millions over the next 16 years, generating cumulative revenues surpassing $1.2 trillion for the auto industry.

Hydrogen fuel cell vehicles, with a zero emission capability, represent future of the automobile, said Naqi Jaffery, the lead author of the report. These vehicles will be the fastest growing segment of the auto market by 2050, he added.

The report, "Global Market for Hydrogen Fuel Cell Vehicles," said that by 2020, sufficient hydrogen filling infrastructures would be in place in several regions of the world, giving an initial boost to the market for hydrogen fuel cell vehicles.

As PetrolPlaza reported, Toyota, Honda, and Hyundai have already rolled out hydrogen fuel cell vehicles, and several other major automakers are poised to enter the market, triggering intense completion.