To meet international climate targets and develop sustainable zero-emission technologies, the mobility sector is expediting the transition to powertrain electrification and gradually reducing dependence on diesel powertrains.
• In addition to stringent emission norms, subsidies, and tax exemptions, governments are promoting the use of alternative powertrains in buses plying low-emission zones. The environmental impact of conventional fossil fuels will influence policy decisions in both developed and developing segments.
• Hydrogen is emerging as a key source of energy to better manage and store the excess electricity generated through sustainable power generation methods, such as solar and wind.
• The development of hydrogen fuel cells for mobility applications is gaining traction, and given the various public and private sector initiatives to propel hydrogen mobility, there are immense growth opportunities worldwide for fuel cell transit and coach buses. The next 2-to-5 years will see a host of new participants entering the sectir, especially in the electrification and fuel cell trucking space. There are also new and cross-industry participants that want a share of the commercial vehicle business pie and are working on different sector approaches to identify new revenue verticals in this nascent sector.
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