IDEAS home Printed from https://ideas.repec.org/a/eee/tefoso/v171y2021ics0040162521004273.html
   My bibliography  Save this article

Staying on convention or leapfrogging to eco-innovation?: Identifying early adopters of hydrogen-powered vehicles

Author

Listed:
  • Moon, HyungBin
  • Park, Stephen Youngjun
  • Woo, JongRoul

Abstract

Hydrogen-powered vehicles or fuel cell electric vehicles (FCEV) are recognized as one of the leading innovations within sustainable technologies. However, to the best of our knowledge, only few studies have been conducted regarding the consumer's perspective of the product. This study focuses on analyzing the consumer's criteria and level behind their behavior regarding these vehicles to identify consumer segments that can be potential innovators and early adopters of FCEV. The K-means clustering method was employed to identify different consumer segments based on their chosen criteria. Next, consumer characteristics and their preferences were analyzed using a multinomial logit model to derive important marketing and policy implications. The result of the analysis indicates that 44.9% of the consumers consider FCEV as a potential alternative. These consumers consist of “Innovative luxury consumer group (6.2%),” “Advanced eco-friendly consumer group (12.6%),” and “Economy-oriented eco-friendly consumer group (26.1%).” Among the three groups, the “innovative and luxurious consumer group,” who considered all traditional gasoline and diesel vehicles with FCEV, had the highest potential to leapfrog to FCEV. These findings can accelerate the diffusion of FCEVs if marketing strategies and policy plans are formulated according to suitable consumer segments.

Suggested Citation

  • Moon, HyungBin & Park, Stephen Youngjun & Woo, JongRoul, 2021. "Staying on convention or leapfrogging to eco-innovation?: Identifying early adopters of hydrogen-powered vehicles," Technological Forecasting and Social Change, Elsevier, vol. 171(C).
    • Handle: RePEc:eee:tefoso:v:171:y:2021:i:c:s0040162521004273
    DOI: 10.1016/j.techfore.2021.120995
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0040162521004273
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.techfore.2021.120995?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Egbue, Ona & Long, Suzanna, 2012. "Barriers to widespread adoption of electric vehicles: An analysis of consumer attitudes and perceptions," Energy Policy, Elsevier, vol. 48(C), pages 717-729.
    2. Neaimeh, Myriam & Salisbury, Shawn D. & Hill, Graeme A. & Blythe, Philip T. & Scoffield, Don R. & Francfort, James E., 2017. "Analysing the usage and evidencing the importance of fast chargers for the adoption of battery electric vehicles," Energy Policy, Elsevier, vol. 108(C), pages 474-486.
    3. Lin Liu & Anthony Dukes, 2016. "Consumer Search with Limited Product Evaluation," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 25(1), pages 32-55, March.
    4. Fanchao Liao & Eric Molin & Bert van Wee, 2017. "Consumer preferences for electric vehicles: a literature review," Transport Reviews, Taylor & Francis Journals, vol. 37(3), pages 252-275, May.
    5. Zhang, Yong & Yu, Yifeng & Zou, Bai, 2011. "Analyzing public awareness and acceptance of alternative fuel vehicles in China: The case of EV," Energy Policy, Elsevier, vol. 39(11), pages 7015-7024.
    6. Philip Vergragt & Dione van Noort, 1996. "Sustainable Technology Development: The Mobile Hydrogen Fuel Cell," Business Strategy and the Environment, Wiley Blackwell, vol. 5(3), pages 168-177, September.
    7. Brownstone, David & Bunch, David S. & Train, Kenneth, 2000. "Joint mixed logit models of stated and revealed preferences for alternative-fuel vehicles," Transportation Research Part B: Methodological, Elsevier, vol. 34(5), pages 315-338, June.
    8. Zeinab Rezvani & Johan Jansson & Maria Bengtsson, 2018. "Consumer motivations for sustainable consumption: The interaction of gain, normative and hedonic motivations on electric vehicle adoption," Business Strategy and the Environment, Wiley Blackwell, vol. 27(8), pages 1272-1283, December.
    9. Kim, Imjung & Kim, Junghun & Lee, Jongsu, 2020. "Dynamic analysis of well-to-wheel electric and hydrogen vehicles greenhouse gas emissions: Focusing on consumer preferences and power mix changes in South Korea," Applied Energy, Elsevier, vol. 260(C).
    10. Choi, Hyunhong & Shin, Jungwoo & Woo, JongRoul, 2018. "Effect of electricity generation mix on battery electric vehicle adoption and its environmental impact," Energy Policy, Elsevier, vol. 121(C), pages 13-24.
    11. Shin, Jungwoo & Hwang, Won-Sik & Choi, Hyundo, 2019. "Can hydrogen fuel vehicles be a sustainable alternative on vehicle market?: Comparison of electric and hydrogen fuel cell vehicles," Technological Forecasting and Social Change, Elsevier, vol. 143(C), pages 239-248.
    12. Bettman, James R & Luce, Mary Frances & Payne, John W, 1998. "Constructive Consumer Choice Processes," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 25(3), pages 187-217, December.
    13. Oliveira, Gabriela D. & Roth, Richard & Dias, Luis C., 2019. "Diffusion of alternative fuel vehicles considering dynamic preferences," Technological Forecasting and Social Change, Elsevier, vol. 147(C), pages 83-99.
    14. Zarazua de Rubens, Gerardo, 2019. "Who will buy electric vehicles after early adopters? Using machine learning to identify the electric vehicle mainstream market," Energy, Elsevier, vol. 172(C), pages 243-254.
    15. Jonas Meckling & Thomas Sterner & Gernot Wagner, 2017. "Policy sequencing toward decarbonization," Nature Energy, Nature, vol. 2(12), pages 918-922, December.
    16. McFadden, Daniel, 1974. "The measurement of urban travel demand," Journal of Public Economics, Elsevier, vol. 3(4), pages 303-328, November.
    17. Ursic, Michael L. & Helgeson, James G., 1990. "The impact of choice phase and task complexity on consumer decision making," Journal of Business Research, Elsevier, vol. 21(1), pages 69-90, August.
    18. Brownstone, David & Bunch, David S. & Train, Kenneth, 2000. "Joint mixed logit models of stated and revealed preferences for alternative-fuel vehicles," Transportation Research Part B: Methodological, Elsevier, vol. 34(5), pages 315-338, June.
    19. Train,Kenneth E., 2009. "Discrete Choice Methods with Simulation," Cambridge Books, Cambridge University Press, number 9780521747387, November.
    20. Herbert A. Simon, 1955. "A Behavioral Model of Rational Choice," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 69(1), pages 99-118.
    21. Hoen, Anco & Koetse, Mark J., 2014. "A choice experiment on alternative fuel vehicle preferences of private car owners in the Netherlands," Transportation Research Part A: Policy and Practice, Elsevier, vol. 61(C), pages 199-215.
    22. Li, Wenbo & Long, Ruyin & Chen, Hong & Geng, Jichao, 2017. "A review of factors influencing consumer intentions to adopt battery electric vehicles," Renewable and Sustainable Energy Reviews, Elsevier, vol. 78(C), pages 318-328.
    23. Byun, Hyunsuk & Shin, Jungwoo & Lee, Chul-Yong, 2018. "Using a discrete choice experiment to predict the penetration possibility of environmentally friendly vehicles," Energy, Elsevier, vol. 144(C), pages 312-321.
    24. Tanaka, Makoto & Ida, Takanori & Murakami, Kayo & Friedman, Lee, 2014. "Consumers’ willingness to pay for alternative fuel vehicles: A comparative discrete choice analysis between the US and Japan," Transportation Research Part A: Policy and Practice, Elsevier, vol. 70(C), pages 194-209.
    25. Pettifor, H. & Wilson, C. & Axsen, J. & Abrahamse, W. & Anable, J., 2017. "Social influence in the global diffusion of alternative fuel vehicles – A meta-analysis," Journal of Transport Geography, Elsevier, vol. 62(C), pages 247-261.
    26. Solaymani, Saeed, 2019. "CO2 emissions patterns in 7 top carbon emitter economies: The case of transport sector," Energy, Elsevier, vol. 168(C), pages 989-1001.
    27. Priessner, Alfons & Sposato, Robert & Hampl, Nina, 2018. "Predictors of electric vehicle adoption: An analysis of potential electric vehicle drivers in Austria," Energy Policy, Elsevier, vol. 122(C), pages 701-714.
    28. Yujin Beak & Kayoung Kim & Kyuho Maeng & Youngsang Cho, 2020. "Is the environment‐friendly factor attractive to customers when purchasing electric vehicles? Evidence from South Korea," Business Strategy and the Environment, Wiley Blackwell, vol. 29(3), pages 996-1006, March.
    29. Dongnyok Shim & Jungwoo Shin & So‐Yoon Kwak, 2018. "Modelling the consumer decision‐making process to identify key drivers and bottlenecks in the adoption of environmentally friendly products," Business Strategy and the Environment, Wiley Blackwell, vol. 27(8), pages 1409-1421, December.
    30. Campbell, Amy R. & Ryley, Tim & Thring, Rob, 2012. "Identifying the early adopters of alternative fuel vehicles: A case study of Birmingham, United Kingdom," Transportation Research Part A: Policy and Practice, Elsevier, vol. 46(8), pages 1318-1327.
    31. Saarenpää, Jukka & Kolehmainen, Mikko & Niska, Harri, 2013. "Geodemographic analysis and estimation of early plug-in hybrid electric vehicle adoption," Applied Energy, Elsevier, vol. 107(C), pages 456-464.
    32. Higgins, Christopher D. & Mohamed, Moataz & Ferguson, Mark R., 2017. "Size matters: How vehicle body type affects consumer preferences for electric vehicles," Transportation Research Part A: Policy and Practice, Elsevier, vol. 100(C), pages 182-201.
    33. Bettman, James R & Park, C Whan, 1980. "Effects of Prior Knowledge and Experience and Phase of the Choice Process on Consumer Decision Processes: A Protocol Analysis," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 7(3), pages 234-248, December.
    34. Onat, Nuri Cihat & Kucukvar, Murat & Tatari, Omer, 2015. "Conventional, hybrid, plug-in hybrid or electric vehicles? State-based comparative carbon and energy footprint analysis in the United States," Applied Energy, Elsevier, vol. 150(C), pages 36-49.
    35. Junquera, Beatriz & Moreno, Blanca & Álvarez, Roberto, 2016. "Analyzing consumer attitudes towards electric vehicle purchasing intentions in Spain: Technological limitations and vehicle confidence," Technological Forecasting and Social Change, Elsevier, vol. 109(C), pages 6-14.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Wojciech Ewider, 2021. "Development of modern payment methods in Poland as an example of technological leapfrogging," Zeszyty Naukowe Małopolskiej Wyższej Szkoły Ekonomicznej w Tarnowie / The Malopolska School of Economics in Tarnow Research Papers Collection, Malopolska School of Economics in Tarnow, vol. 50(2), pages 79-91, June.
    2. Lee, Jeongeun & Koo, Yoonmo, 2023. "A general equilibrium analysis of individual choice behavior on alternative fuel vehicles," Ecological Economics, Elsevier, vol. 204(PB).
    3. Yang, So Young & Woo, JongRoul & Lee, Wonjong, 2024. "Assessing optimized time-of-use pricing for electric vehicle charging in deep vehicle-grid integration system," Energy Economics, Elsevier, vol. 138(C).
    4. Kalisri Logeswaran Aravindan & Thurasamy Ramayah & Munusamy Thavanethen & Murali Raman & Narinasamy Ilhavenil & Sanmugam Annamalah & Yap Voon Choong, 2023. "Modeling Positive Electronic Word of Mouth and Purchase Intention Using Theory of Consumption Value," Sustainability, MDPI, vol. 15(4), pages 1-19, February.
    5. Madhavan Parthasarathy & Walfried Lassar, 2023. "The adoption and disadoption of electric vehicles by innovators," Marketing Letters, Springer, vol. 34(4), pages 549-573, December.
    6. Clara Cubillas‐Para & Eva Tomaseti‐Solano & Antonia Madrid‐Guijarro, 2024. "How do the perception of the technological and symbolic dimensions and the social context affect the green consumer adoption process of eco‐innovations?," Business Strategy and the Environment, Wiley Blackwell, vol. 33(3), pages 2533-2545, March.
    7. Moon, Sungho & Kim, Kyungah & Seung, Hyunchan & Kim, Junghun, 2022. "Strategic analysis on effects of technologies, government policies, and consumer perceptions on diffusion of hydrogen fuel cell vehicles," Energy Economics, Elsevier, vol. 115(C).
    8. Son, Woojin & Lee, Seungyeon & Woo, JongRoul, 2023. "Community acceptance of hydrogen power plant projects: The case of South Korea," Renewable and Sustainable Energy Reviews, Elsevier, vol. 187(C).
    9. Park, Changeun & Lim, Sesil & Shin, Jungwoo & Lee, Chul-Yong, 2022. "How much hydrogen should be supplied in the transportation market? Focusing on hydrogen fuel cell vehicle demand in South Korea," Technological Forecasting and Social Change, Elsevier, vol. 181(C).
    10. Rubio, Francisco & Llopis-Albert, Carlos & Besa, Antonio José, 2023. "Optimal allocation of energy sources in hydrogen production for sustainable deployment of electric vehicles," Technological Forecasting and Social Change, Elsevier, vol. 188(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Gabriela D. Oliveira & Luis C. Dias, 2019. "Influence of Demographics on Consumer Preferences for Alternative Fuel Vehicles: A Review of Choice Modelling Studies and a Study in Portugal," Energies, MDPI, vol. 12(2), pages 1-33, January.
    2. Ko, Sungmin & Shin, Jungwoo, 2023. "Projection of fuel cell electric vehicle demand reflecting the feedback effects between market conditions and market share affected by spatial factors," Energy Policy, Elsevier, vol. 173(C).
    3. Peng, Ruoqing & Tang, Justin Hayse Chiwing G. & Yang, Xiong & Meng, Meng & Zhang, Jie & Zhuge, Chengxiang, 2024. "Investigating the factors influencing the electric vehicle market share: A comparative study of the European Union and United States," Applied Energy, Elsevier, vol. 355(C).
    4. Yang, J. & Chen, F., 2021. "How are social-psychological factors related to consumer preferences for plug-in electric vehicles? Case studies from two cities in China," Renewable and Sustainable Energy Reviews, Elsevier, vol. 149(C).
    5. Kim, Kyungah & Lee, Jongsu & Kim, Junghun, 2021. "Can liquefied petroleum gas vehicles join the fleet of alternative fuel vehicles? Implications of transportation policy based on market forecast and environmental impact," Energy Policy, Elsevier, vol. 154(C).
    6. Oryani, Bahareh & Koo, Yoonmo & Shafiee, Afsaneh & Rezania, Shahabaldin & Jung, Jiyeon & Choi, Hyunhong & Khan, Muhammad Kamran, 2022. "Heterogeneous preferences for EVs: Evidence from Iran," Renewable Energy, Elsevier, vol. 181(C), pages 675-691.
    7. Jia, Wenjian & Chen, T. Donna, 2023. "Investigating heterogeneous preferences for plug-in electric vehicles: Policy implications from different choice models," Transportation Research Part A: Policy and Practice, Elsevier, vol. 173(C).
    8. Meilinda Fitriani Nur Maghfiroh & Andante Hadi Pandyaswargo & Hiroshi Onoda, 2021. "Current Readiness Status of Electric Vehicles in Indonesia: Multistakeholder Perceptions," Sustainability, MDPI, vol. 13(23), pages 1-25, November.
    9. Moon, Sungho & Kim, Kyungah & Seung, Hyunchan & Kim, Junghun, 2022. "Strategic analysis on effects of technologies, government policies, and consumer perceptions on diffusion of hydrogen fuel cell vehicles," Energy Economics, Elsevier, vol. 115(C).
    10. Rotaris, Lucia & Giansoldati, Marco & Scorrano, Mariangela, 2021. "The slow uptake of electric cars in Italy and Slovenia. Evidence from a stated-preference survey and the role of knowledge and environmental awareness," Transportation Research Part A: Policy and Practice, Elsevier, vol. 144(C), pages 1-18.
    11. Eunsung Kim & Eunnyeong Heo, 2019. "Key Drivers behind the Adoption of Electric Vehicle in Korea: An Analysis of the Revealed Preferences," Sustainability, MDPI, vol. 11(23), pages 1-15, December.
    12. Elena Higueras-Castillo & Sebastian Molinillo & J. Andres Coca-Stefaniak & Francisco Liébana-Cabanillas, 2020. "Potential Early Adopters of Hybrid and Electric Vehicles in Spain—Towards a Customer Profile," Sustainability, MDPI, vol. 12(11), pages 1-18, May.
    13. Kim, Junghun & Seung, Hyunchan & Lee, Jongsu & Ahn, Joongha, 2020. "Asymmetric preference and loss aversion for electric vehicles: The reference-dependent choice model capturing different preference directions," Energy Economics, Elsevier, vol. 86(C).
    14. Ye Yang & Zhongfu Tan, 2019. "Investigating the Influence of Consumer Behavior and Governmental Policy on the Diffusion of Electric Vehicles in Beijing, China," Sustainability, MDPI, vol. 11(24), pages 1-20, December.
    15. Jang, Sungsoon & Choi, Jae Young, 2021. "Which consumer attributes will act crucial roles for the fast market adoption of electric vehicles?: Estimation on the asymmetrical & heterogeneous consumer preferences on the EVs," Energy Policy, Elsevier, vol. 156(C).
    16. Huang, Youlin & Qian, Lixian & Tyfield, David & Soopramanien, Didier, 2021. "On the heterogeneity in consumer preferences for electric vehicles across generations and cities in China," Technological Forecasting and Social Change, Elsevier, vol. 167(C).
    17. Philip, Thara & Whitehead, Jake & Prato, Carlo G., 2023. "Adoption of electric vehicles in a laggard, car-dependent nation: Investigating the potential influence of V2G and broader energy benefits on adoption," Transportation Research Part A: Policy and Practice, Elsevier, vol. 167(C).
    18. Elnaz Abotalebi & Mark R. Ferguson & Moataz Mohamed & Darren M. Scott, 2020. "Design of a survey to assess prospects for consumer electric mobility in Canada: a retrospective appraisal," Transportation, Springer, vol. 47(3), pages 1223-1250, June.
    19. Park, Soyeong & Maeng, Kyuho & Shin, Jungwoo, 2023. "Efficient subsidy distribution for hydrogen fuel cell vehicles based on demand segmentation," Technological Forecasting and Social Change, Elsevier, vol. 186(PA).
    20. Kim, Imjung & Kim, Junghun & Lee, Jongsu, 2020. "Dynamic analysis of well-to-wheel electric and hydrogen vehicles greenhouse gas emissions: Focusing on consumer preferences and power mix changes in South Korea," Applied Energy, Elsevier, vol. 260(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:tefoso:v:171:y:2021:i:c:s0040162521004273. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.sciencedirect.com/science/journal/00401625 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.