The global fuel cell bike market size was US$ 6.0 billion in 2021. The global fuel cell bike market size is estimated to reach US$ 21.4 billion by 2030, growing at a compound annual growth rate (CAGR) of 15.2% during the forecast period from 2022 to 2030.
A fuel cell bike or fuel cell electric bike is an electric vehicle that operates on a fuel cell, occasionally in combination with a supercapacitor or small battery to boost its onboard electric engine. It induces electricity using oxygen and a compressed hydrogen-based engine, usually from the air. It is a type of electric vehicle that uses 'fuel cell technology to produce the electricity needed to run the vehicle. In these vehicles, the chemical energy of the fuel is directly converted into electrical energy. Most fuel cell vehicles are classified as zero-emission vehicles that radiate only heat and water. Compared to internal combustion vehicles, hydrogen vehicles concentrate pollutants at the site of hydrogen production, where hydrogen is obtained from reformed natural gas.

Factors Affecting Market Growth

The increase in environmental crises and cooperative government enterprises for the development of hydrogen fuel cell infrastructure drive the global market.
Factors such as fast urbanization across the world and increasing customer preference towards the use of fuel-cell bikes as an eco-friendly resolution are anticipated to drive the global market.
Rising flammable quality, high cost, and lack of adequate refuelling infrastructure are one of the key factors hindering the global market.
Development in the area of polymer electrolyte membrane technology, growing demand for fuel cells in automotive and transportation, and approval of severe tailpipe emission norms are anticipated to drive the global market.

Impact Analysis of COVID-19

The COVID-19 crisis has negatively impacted the global market. Governments across sectors have announced complete lockdowns and temporary closure of industries, resulting in travel restrictions, flight cancellations, and quarantines, which led to a huge reduction in logistics activities and supply chains across the globe. The sales of fuel-cell electric bicycles dropped in the first quarter of 2020, as bicycle stores were closed due to the lockdown.

Regional Analysis

Asia Pacific holds the largest share of the global market in 2020 in terms of units mainly due to the ENE-FARM program in Japan, which has propelled the use of SOFCs and PEMFCs for micro-CHP applications in the region. Moreover, supporting policies and plans for fuel cell systems for transportation applications in China and South Korea have boosted the growth of the global market in the region.
North America held a substantial share of the global market in 2020 in terms of capacity due to the presence of supportive policies to limit the carbon footprint along with the availability of funds for research in the region.

Leading Competitors
The prominent players in the global fuel cell bike market are:
Kawasaki Heavy Industries
Intelligent Energy Ltd.
Hyundai
Hero Motocorp
Honda
General Motors
BMW
Audi
XIDEA (Key Innovator)
Pragma Industries (Key Innovator)
Others

Segmentation Analysis
The global fuel cell market focuses on Max Load, Power, Max Speed, Frame Material, Range, Sales Channel, and Region.
Segmentation on the basis of Max Load
101kg - 125kg
More Than 125kg
Less Than 100kg

Segmentation on the basis of Power
Less Than 250 W
250 W to 400 W
401 W to 750 W
Above 751 W

Segmentation on the basis of Max Speed
Less Than 50km/h
More Than 50km/h

Segmentation on the basis of Frame Material
Carbon Fibre
Steel
Aluminium
Others
Segmentation on the basis of Range
Less Than 100km
101km - 125km
More Than 125km

Segmentation on the basis of Sales and Channel
Offline Store
Online
Segmentation on the basis of Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America