Hydrogen Truck Market

Hydrogen Truck Market by Vehicle Type, Fuel Cell Technology, Motor Power(Upto 200 Kw, 200-400 Kw, Above 400 Kw), Range( Upto 300 miles, 300-500 miles, Above 500 miles), Tank Size, Type of Hydrogen Tank, and Region - Global Forecast to 2035

Report Code: AT 9166 Sep, 2024, by marketsandmarkets.com

[341 Pages Report] The global hydrogen truck market is projected to grow from USD 1.9 billion in 2024 to USD 10.8 billion by 2035 at a CAGR of 16.9%. Hydrogen has been regarded as one of the most promising contenders for sustainable commercial transportation. Hydrogen trucks combine the advantages of conventional diesel trucks and battery electric trucks. They are quick to refuel, offer a long driving range, provide optimum freight capacity, and are emissions-free. Despite the limitations around developing a new refueling infrastructure, hydrogen trucks have emerged as a viable choice for commercial transportation because hydrogen truck refueling stations are installed on predetermined routes.

Hydrogen trucks can be refueled quickly, which reduces their downtime and gives them an advantage over battery electric trucks, which take longer to charge. The growing adoption of EVs complements the development of hydrogen fuel cell technology since they can be perfectly integrated into the powertrain of electric vehicles. Low cost of fuel cells, increased investments in hydrogen production, and expansion of green hydrogen hubs are some of the factors driving the hydrogen truck market.

Advancements in liquid hydrogen and hydrogen internal combustion engines help reduce emissions, mainly where full electrification is not feasible. Fuel Cell Electric Vehicles (FCEVs) are popular because they have zero emissions and offer quick refueling like diesel vehicles and extended driving range of over 500 kilometers per tank, as seen with the Hyundai Xcient Fuel Cell Truck and the Toyota SORA trucks. Besides, more than 90% of hydrogen-powered vehicles utilize fuel cells. Hydrogen Internal Combustion Engines (H2ICEs), on the other hand, are in their primitive stage of development. They use hydrogen in a modified internal combustion engine that includes one system for injecting hydrogen and another for treating exhaust emissions, such as nitrogen oxides. This technology makes use of existing engine designs that can be retrofitted into current vehicles, with advancements coming from companies like Cummins and retrofitting by DAF and MAN.

Hydrogen Truck Market

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Hydrogen Truck Market Opportunities

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Market Dynamics

Driver: Efficiency of hydrogen-powered vehicles

Hydrogen-powered vehicles, like those equipped with typical internal combustion engines, can refuel quickly. On the other hand, battery electric trucks take 6 to 8 hours to charge, causing downtime and affecting commercial vehicle profitability. Additionally, hydrogen vehicles can travel up to 600 miles on a single tank refill, more than the range of battery electric trucks. These factors drive the need for hydrogen trucks for long-distance commercial and freight transportation.

Restraint: Infrastructure scalability issues

Limited scalability is a significant restraint to the growth of the hydrogen truck market. Primary concerns around the scalability of hydrogen infrastructure are increased costs, inadequate production of green hydrogen, and challenges around hydrogen transportation and storage. Infrastructural expansion is challenging as it necessitates large-scale construction of refueling stations. It is estimated that constructing 15,000 refueling stations worldwide by 2030 would cost approximately USD 20 billion. Government-led programs, like Germany’s H2 Mobility, can address this concern by facilitating collaborations between governments, OEMs, and hydrogen infrastructure providers.

Additionally, increased cooperation between countries to support green hydrogen projects financially would help address the issues pertaining to the scalability of hydrogen infrastructure. Saudi Arabia’s Green Hydrogen-based Ammonia Production facility, valued at USD 5.01 billion, and the UK’s investment in GeoPura’s Hydrogen Power Units are examples of initiatives to capitalize on green hydrogen production. Furthermore, initiatives to promote energy sustainability, technological advancements, increased investments, and robust public-private partnerships can also help address concerns around scalability.

Opportunity: Development of mobile and community hydrogen fueling systems

The increased popularity of mobile and community hydrogen refueling systems drives the adoption of hydrogen-powered vehicles. A hydrogen supply station supplies the hydrogen fuel used in a mobile hydrogen refueling system. Mobile and community hydrogen refueling systems enhance accessibility and depend less on large-scale hydrogen refueling stations. They provide an accessible, flexible infrastructure option that can be developed for developing and rural areas. These factors will drive the early adoption of hydrogen trucks as the refueling process in these mobile systems is reliable. Additionally, the increased public awareness regarding the advantages of community-based refueling stations is expected to drive the popularity of community and mobile hydrogen fueling systems. All these factors and developments are expected to boost the growth of the hydrogen truck market in the coming years.

Companies such as Air Products (US), Linde (Germany), and Powertech Labs (Canada) are currently developing mobile refueling technology.

Challenge: Storage and transportation of hydrogen

Hydrogen must be stored under high pressure as liquid hydrogen (-252.8°C°C) or with the help of chemical compounding. The high density of hydrogen poses a challenge for its storage. Significant innovations in materials and storage technologies, such as high-pressure tanks and metal hydrides, are required to facilitate efficient hydrogen storage and transportation, potentially improving hydrogen safety and efficiency. These innovations are crucial to ensure a steady and robust hydrogen supply chain.

Two primary strategies are being researched to address the problems associated with hydrogen storage and transportation. The short-term strategy is to store hydrogen as compressed gas in robust pressure tanks that can endure pressures as high as 700 bar while maintaining an economically viable storage level. The long-term strategy requires researching novel materials, including sorbents and metal hydrides, which can store hydrogen more effectively and at low temperatures (cryo-compressed hydrogen) to boost storage density. These methods seek to make hydrogen storage and transportation safe and cost-effective.

Market Ecosystem:

Top Companies in Hydrogen Truck Market

By tank size, the > 60 kg segment is projected to account for the largest share of the hydrogen truck market during the forecast period

Hydrogen tanks weighing over 60 kg offer an extended driving range to hydrogen buses. They are ideal for cross-country transportation and industrial operations that require a significant amount of fuel capacity. Hydrogen trucks with increased fuel tank capacity have an improved driving range. For example, Mercedes Benz Gen H2, equipped with two type IV hydrogen tanks with a total fuel capacity of 80 kg, can cover a distance of about 745 miles in one hydrogen fill. Similarly, Hyzon Motor's Class 8 FC truck weighing 41 tonnes provides an increased storage capacity of 70 kg at 350 bars in a dual-row arrangement of 10 tanks, offering a driving range of 500 miles.

The improved fuel tank capacity of hydrogen trucks is crucial for long-haul transportation since the ability to carry more hydrogen directly translates into few refueling stops and excellent efficiency over long distances. One of the major factors driving the growth of the > 60 kg segment is the increasing demand for long-haul and heavy-duty transportation.

Asia Pacific is projected to be the largest market in the > 60 kg segment, by volume, while Europe is projected to be the fastest-growing market. The increasing expansion of hydrogen infrastructure is one of the major factors driving the segment's growth in these regions.

By fuel cell technology, the PEMFC segment is projected to lead the hydrogen truck market during the forecast period

Polymer electrolyte membrane fuel cells (PEMFC), or proton membrane exchange fuel cells, are the most popular fuel cells used in hydrogen-powered trucks. These cells offer a high power density and a low weight and fuel volume, which makes them suitable for long-haul buses and trucks. PEM fuel cells use solid polymers as electrolytes and porous carbon electrodes combined with platinum or platinum catalysts. They use hydrogen, methanol, or ethanol as fuel. PEM fuel cells are mixed with hydrogen from storage tanks or reformers for automotive applications. They operate at a low temperature of around 80 degrees Celsius. They start quickly (since less heating is required) and reduce component wear and tear. PEM fuel cells are suitable for hydrogen-powered trucks, increasing the vehicles' durability.

Proton Exchange Membrane Fuel Cells (PEMFCs) are preferred in hydrogen trucks because they adjust output quickly to meet fluctuating power demands, a crucial requirement of heavy-duty transportation. This factor has driven the demand for PEMFC-based trucks. As a result, many players are manufacturing vehicles equipped with this technology. For example, Toyota Motor Corporation (Japan), Daimler Truck AG (Germany), FAW Jiefang Automobile Co., Ltd. (China), Hyundai Motor Company (South Korea), and Nikola Corporation (US) offer PEM-based trucks. In 2024, Mercedes-Benz (Germany) launched its GenH2 Class 8 Truck, and Wrightbus (UK) launched its StreetDeck Hydroliner, a hydrogen-powered bus. In the same year, Hyzon (US) launched Hyzon HYHD8-110, a class 8 truck equipped with the PEMFC technology.

Asia Pacific is projected to be the largest market during the forecast period

Hydrogen Truck Market Size, and Share

Asia Pacific is projected to account for the largest market during the forecast period, with China dominating the region. The major factors driving the growth of the hydrogen truck market in the region are the large-scale installation of hydrogen technology R&D centers and the growing demand for zero-emission vehicles in Asia Pacific countries.

The growth of the Chinese market can be attributed to partnerships between local OEMs and the government for the deployment of hydrogen trucks in the country. China's expansion is significant, given its position as a global leader in hydrogen production and consumption. In January 2024, China’s hydrogen economy switched from being policy-driven to market-driven, with Shanxi and Shaanxi provinces leading the decarbonization efforts in heavy industry and transportation.

South Korea is projected to achieve significant growth in the coming years, as the country is heavily investing in hydrogen refueling infrastructure. Many OEMs in the country have been investing heavily in building hydrogen refueling stations, which has aided the country's growth in the market. For example, in 2022, Hyundai invested USD 6.7 billion in building 100 hydrogen refueling stations. Additionally, the Ministry of Environment (South Korea) has increased its subsidy funding for 2024 to support the sale of up to 1,500 hydrogen buses, up from 700 hydrogen buses in 2023. Despite a 54% decline in the registration of hydrogen vehicles in January 2024, South Korea plans to produce 300,000 hydrogen vehicles by 2030. As a result, many OEMs are contributing to this strategy. For example, Hyundai Motor Company (South Korea) plans to expand its hydrogen-powered vehicles, including buses, by 2027. In 2023, it will launch its hydrogen-powered trucks in the US.

Key Market Players:

The hydrogen truck market is dominated by major players, such as Foton International (China), Yutong Bus Co., Ltd. (China), Xiamen King Long International Trading Co., Ltd. (China), Solaris Bus & Coach sp. z o. o. (Poland), and Hyundai Motor Company (South Korea). These OEMs manufacture hydrogen trucks and have strong distribution networks at the global level. They have adopted extensive expansion strategies and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in the hydrogen truck market.

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Scope of the Report

Report Metric

Details

Market size available for years

2020–2035

Base year considered

2023

Forecast period

2024–2035

Forecast units

Volume (Thousand Units) and Value (USD Million/Billion)

Segments covered

By Vehicle Type, By Fuel Cell Technology, By Motor Power, By Range, By Type of Hydrogen Tank, By Tank Size, By Region

Geographies covered

Asia Pacific, Europe, and North America

Companies Covered

Foton International (China), Yutong Bus Co., Ltd. (China), Xiamen King Long International Trading Co., Ltd. (China), Solaris Bus & Coach sp. z o. o. (Poland), and Hyundai Motor Company (South Korea)

This research report categorizes the hydrogen truck market based on Vehicle Type, Fuel Cell Technology, Range, Motor Power, Tank Size, Type of Hydrogen Tank, and Region.

Based on Vehicle Type:
  • Hydrogen Bus
  • Hydrogen Truck
Based on Fuel Cell Technology:
  • PEMFC
  • SOFC
Based on Range:
  • Upto 300 miles
  • 300-500 miles
  • Above 500 miles
Based on Motor Power:
  • Upto 200 Kw
  • 200-400 Kw
  • Above 400 Kw
Based on Type of Hydrogen Tank:
  • Type III
  • Type IV
Based on Tank Size:
  • < 30 kg
  • 30-60 kg
  • > 60 kg
Based on the Region:
  • Asia Pacific (APAC)
    • China
    • India
    • Japan
    • South Korea
  • North America (NA)
    • US
    • Canada
  • Europe (EU)
    • France
    • Germany
    • Spain
    • Sweden
    • UK

Recent Developments:

  • In July 2024, Foton International (China) expanded its global presence by signing a strategic partnership with INDOMOBIL (Indonesia). Through this partnership, Foton would develop its domestic manufacturing and distribution activities and demonstrate its strategic decision to expand in emerging markets.
  • In July 2024, Foton International (China) and DEC Hydrogen signed a cooperation agreement to develop and promote hydrogen fuel cell trucks, focusing on the Beijing-Tianjin-Hebei region and Sichuan province. The companies plan to manufacture hydrogen-powered, heavy-duty trucks at their jointly established R&D centers in China.
  • In March 2024, Refire Technology (China) delivered fuel cells for 50 hydrogen trucks to Yutong Bus Co., Ltd. (China). Through this development, Refire Technology made its first step into heavy-duty vehicle electrification in China. This development followed Refire’s previous deliveries of fuel cells in Germany. The strategy highlighted Refire’s global commitment to advancing hydrogen mobility solutions.
  • In April 2024, Ballard Power Systems (US) secured its most significant order for 1,000 hydrogen fuel cell engines to be delivered to Solaris Bus & Coach sp. z o. o (Poland) by 2027. This supply order included 70-kW and 100-kW engines for various bus models. This order would significantly increase Ballard’s European hydrogen truck market share.
  • In October 2023, Hyundai Motor Company partnered with IVECO S.p.A. (Italy) to launch the E-WAY H2 hydrogen city bus. This 12-meter bus is equipped with a 310-kW e-motor and a hydrogen fuel tank capacity of 7.8 kg. The bus offers a maximum driving range of 450 km.
  • In August 2024, Hyzon Motors (US) reported a substantial decline in liquidity, with cash reserves dipping below USD 1 million, raising concerns about insolvency. Despite minimizing expenses and withdrawing from specific areas, the company’s liberated cash declined from USD 70 million in December 2023 to less than USD 1 million by June 2024.

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 26)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
    1.3 STUDY SCOPE 
           1.3.1 MARKET SEGMENTATION
           1.3.2 INCLUSIONS & EXCLUSIONS
    1.4 YEARS CONSIDERED 
    1.5 CURRENCY CONSIDERED 
    1.6 UNIT CONSIDERED 
    1.7 STAKEHOLDERS 
 
2 RESEARCH METHODOLOGY (Page No. - 32)
    2.1 RESEARCH DATA 
           2.1.1 SECONDARY DATA
                    2.1.1.1 List of key secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Primary interview participants
                    2.1.2.2 Key industry insights
                    2.1.2.3 Breakdown of primary interviews
                    2.1.2.4 List of primary participants
    2.2 MARKET SIZE ESTIMATION METHODOLOGY 
           2.2.1 BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 
    2.4 FACTOR ANALYSIS 
    2.5 RESEARCH ASSUMPTIONS 
    2.6 RESEARCH LIMITATIONS 
    2.7 RISK ANALYSIS 
 
3 EXECUTIVE SUMMARY (Page No. - 47)
 
4 PREMIUM INSIGHTS (Page No. - 52)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HYDROGEN BUS & TRUCK MARKET 
    4.2 HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE 
    4.3 HYDROGEN BUS & TRUCK MARKET, BY TYPE OF TANK 
    4.4 HYDROGEN BUS & TRUCK MARKET, BY HYDROGEN TANK SIZE 
    4.5 HYDROGEN BUS & TRUCK MARKET, BY RANGE 
    4.6 HYDROGEN BUS & TRUCK MARKET, BY MOTOR POWER 
    4.7 HYDROGEN BUS & TRUCK MARKET, BY REGION 
 
5 MARKET OVERVIEW (Page No. - 56)
    5.1 INTRODUCTION 
    5.2 IMPACT OF AI/GEN AI ON HYDROGEN BUS & TRUCK MARKET 
    5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 
    5.4 MARKET DYNAMICS 
           5.4.1 DRIVERS
                    5.4.1.1 Fleet decarbonization mandates
                    5.4.1.2 Faster refueling than EVs
                    5.4.1.3 Expansion of hydrogen refueling infrastructure
                    5.4.1.4 Growing investment in ‘Green Hydrogen’ production
                    5.4.1.5 Government initiatives promoting fuel cell vehicles
           5.4.2 RESTRAINTS
                    5.4.2.1 High initial investments in hydrogen refueling infrastructure
                    5.4.2.2 Infrastructure scalability issues
                    5.4.2.3 High flammability and detection of fuel leakages
           5.4.3 OPPORTUNITIES
                    5.4.3.1 Advancements in fuel cell technology
                               5.4.3.1.1 FCEV commercial freight truck developments
                    5.4.3.2 Development of mobile and community hydrogen fueling systems
                    5.4.3.3 Integration with renewable energy sources
                    5.4.3.4 Deployment of hydrogen corridors
           5.4.4 CHALLENGES
                    5.4.4.1 High cost compared to gasoline/electric vehicles
                    5.4.4.2 Hydrogen storage and transportation challenges
                    5.4.4.3 Higher operating costs than EVs
    5.5 PRICING ANALYSIS 
           5.5.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS FOR HYDROGEN BUSES
           5.5.2 AVERAGE SELLING PRICE TREND OF KEY OEMS FOR HYDROGEN TRUCKS
           5.5.3 AVERAGE SELLING PRICE TREND, BY REGION
    5.6 ECOSYSTEM ANALYSIS 
    5.7 VALUE CHAIN ANALYSIS 
    5.8 CASE STUDY ANALYSIS 
           5.8.1 BALLARD POWER SYSTEMS INTRODUCED ZERO-EMISSION HYDROGEN FUEL CELL BUSES TO REDUCE GREENHOUSE GAS EMISSIONS
           5.8.2 BALLARD POWER SYSTEMS SUPPLIED FCVELOCITY-9SSL FUEL CELL STACKS TO SHANGHAI RE-FIRE TECHNOLOGY TO ESTABLISH FLEET OF 500 FUEL CELL TRUCKS
           5.8.3 TRANSPORT FOR LONDON (TFL) INTRODUCED FUEL CELL BUSES TO REDUCE CARBON EMISSIONS BY 2025
           5.8.4 BALLARD POWER SYSTEM AND VAN HOOL COLLABORATED TO ESTABLISH SUSTAINABLE TRANSPORTATION SOLUTION
           5.8.5 HALL DECIDED TO INVEST IN NIKOLA TRE FCEVS (FUEL CELL ELECTRIC VEHICLES) TO ELIMINATE USE OF FOSSIL FUEL TRUCKS
    5.9 KEY OEMS: MNM INSIGHTS 
           5.9.1 FOTON INTERNATIONAL: FCEV STRATEGIES
           5.9.2 XIAMEN KING LONG INTERNATIONAL TRADING CO., LTD.: FCEV STRATEGIES
           5.9.3 YUTONG BUS CO., LTD.: FCEV STRATEGIES
           5.9.4 SOLARIS BUS & COACH SP. Z.O.O.: FCEV STRATEGIES
           5.9.5 HYUNDAI MOTOR COMPANY: FCEV STRATEGIES
    5.1 HYDROGEN BUS & TRUCK MARKET: BUSINESS MODELS 
    5.11 HYDROGEN REFUELING STATION SETUP TRENDS, BY REGION: MNM INSIGHTS 
    5.12 COUNTRY-LEVEL TARGETS OF HYDROGEN BUSES/TRUCKS AND REFUELLING STATIONS: MNM INSIGHTS 
    5.13 HYDROGEN COMMERCIAL VEHICLES’ FUEL CAPACITY AND RANGE: MNM INSIGHTS 
    5.14 EXISTING AND UPCOMING HYDROGEN COMMERCIAL VEHICLE MODELS: MNM INSIGHTS 
    5.15 H2ICE BUSES & TRUCKS: MNM INSIGHTS 
    5.16 TRADE ANALYSIS 
           5.16.1 EXPORT SCENARIO
           5.16.2 IMPORT SCENARIO
    5.17 TOTAL COST OF OWNERSHIP COMPARISON OF BEV AND FCEV BUSES AND TRUCKS 
    5.18 BILL OF MATERIALS 
           5.18.1 BILL OF MATERIAL COMPARISON BETWEEN FCEV, ICE, AND BEV BUSES
           5.18.2 BILL OF MATERIAL COMPARISON BETWEEN FCEV, ICE, AND BEV TRUCKS
    5.19 PATENT ANALYSIS 
           5.19.1 INTRODUCTION
    5.2 REGULATORY LANDSCAPE 
           5.20.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS, BY REGION
    5.21 TECHNOLOGY ANALYSIS 
           5.21.1 KEY TECHNOLOGIES
                    5.21.1.1 Solid Oxide Fuel Cell (SOFC)
                    5.21.1.2 Polymer Electrolyte Membrane Fuel Cell (PEMFC)
                    5.21.1.3 Direct Borohydride Fuel Cell (DBFC)
                    5.21.1.4 Packaged fuel cell system module
                    5.21.1.5 Fuel Cell Hybrid Electric Vehicle (FCHEV)
                    5.21.1.6 Hydrogen Internal Combustion Engine (H2ICE)
                    5.21.1.7 Non-precious metal catalyst-based fuel cell
                    5.21.1.8 Carbonate-Superstructured Solid Fuel Cell (CSSFC)
           5.21.2 COMPLEMENTARY TECHNOLOGIES
                    5.21.2.1 Low carbon hydrogen
                    5.21.2.2 Hydrogenious LOHC (Liquid Organic Hydrogen Carrier)
                    5.21.2.3 Liquefied hydrogen technology
           5.21.3 ADJACENT TECHNOLOGIES
                    5.21.3.1 Telematics and fleet management systems
                    5.21.3.2 Hydrogen sensor system
    5.22 KEY CONFERENCES & EVENTS, 2024–2025 
    5.23 KEY STAKEHOLDERS & BUYING CRITERIA 
           5.23.1 KEY STAKEHOLDERS IN BUYING PROCESS
           5.23.2 BUYING CRITERIA
    5.24 INVESTMENT & FUNDING SCENARIO 
    5.25 FUNDING, BY VEHICLE TYPE 
 
6 HYDROGEN BUS & TRUCK MARKET, BY MOTOR POWER (Page No. - 133)
    6.1 INTRODUCTION 
    6.2 UP TO 200 KW 
           6.2.1 LAST-MILE DELIVERY SERVICES TO BOOST DEMAND FOR ENGINES WITH POWER RANGE OF UP TO 200 KW
           6.2.2 UP TO 200 KW: HYDROGEN BUS MODELS
           6.2.3 UP TO 200 KW: HYDROGEN TRUCK MODELS
    6.3 200–400 KW 
           6.3.1 GROWING DEMAND FOR TRANSIT BUSES TO DRIVE GROWTH OF 200–400 KW SEGMENT
           6.3.2 200–400 KW: HYDROGEN BUS MODELS
           6.3.3 200–400 KW: HYDROGEN TRUCK MODELS
    6.4 ABOVE 400 KW 
           6.4.1 INCREASING DEMAND FOR HEAVY-DUTY TRANSPORTATION TO BOOST MARKET
           6.4.2 ABOVE 400 KW: HYDROGEN BUS MODELS
           6.4.3 ABOVE 400 KW: HYDROGEN TRUCK MODELS
    6.5 KEY PRIMARY INSIGHTS 
 
7 HYDROGEN BUS & TRUCK MARKET, BY RANGE (Page No. - 143)
    7.1 INTRODUCTION 
    7.2 UP TO 300 MILES 
           7.2.1 DEMAND FOR EMISSION-FREE INTRACITY TRANSPORTATION AND LAST-MILE DELIVERY TO DRIVE SEGMENT GROWTH
           7.2.2 UP TO 300 MILES: HYDROGEN BUS MODELS
           7.2.3 UP TO 300 MILES: HYDROGEN TRUCK MODELS
    7.3 300–500 MILES 
           7.3.1 DEMAND FOR FIELD SERVICES AND TRANSIT OPERATIONS TO DRIVE SEGMENT’S GROWTH
           7.3.2 300–500 MILES: HYDROGEN BUS MODELS
           7.3.3 300–500 MILES: HYDROGEN TRUCK MODELS
    7.4 ABOVE 500 MILES 
           7.4.1 INCREASING NEED FOR LONG-HAUL, HEAVY-DUTY TRANSPORTATION TO DRIVE MARKET
           7.4.2 ABOVE 500 MILES: HYDROGEN BUS MODELS
           7.4.3 ABOVE 500 MILES: HYDROGEN TRUCK MODELS
    7.5 KEY PRIMARY INSIGHTS 
 
8 HYDROGEN BUS & TRUCK MARKET, BY HYDROGEN TANK SIZE (Page No. - 153)
    8.1 INTRODUCTION 
    8.2 < 30 KG 
           8.2.1 DEMAND FOR LAST-MILE DELIVERY SERVICES AND SHORT-RANGE H2 BUSES TO BOOST MARKET
           8.2.2 < 30 KG: HYDROGEN BUS AND TRUCK MODELS
    8.3 30–60 KG 
           8.3.1 GROWING DEMAND FOR LONG-HAUL TRANSPORTATION TO SPUR MARKET GROWTH
           8.3.2 30–60 KG: HYDROGEN BUS AND TRUCK MODELS
    8.4 > 60 KG 
           8.4.1 INCREASING DEMAND FOR HEAVY-DUTY TRANSPORTATION TO BOOST GROWTH
           8.4.2 > 60 KG: HYDROGEN BUS AND TRUCK MODELS
    8.5 KEY PRIMARY INSIGHTS 
 
9 HYDROGEN BUS & TRUCK MARKET, BY TYPE OF TANK (Page No. - 162)
    9.1 INTRODUCTION 
           9.1.1 HYDROGEN TANK TYPE CLASSIFICATION FOR AUTOMOTIVE APPLICATION
    9.2 TYPE III 
           9.2.1 TYPE III TANKS CAN WITHSTAND HIGHER INTERNAL PRESSURE THAN OTHER TANKS
           9.2.2 HYDROGEN BUSES WITH TYPE III HYDROGEN TANKS
           9.2.3 HYDROGEN TRUCKS WITH TYPE III HYDROGEN TANKS
    9.3 TYPE IV 
           9.3.1 NEED FOR HIGH-PRESSURE STORAGE OF HYDROGEN TO BOOST DEMAND FOR TYPE IV TANKS
           9.3.2 HYDROGEN BUSES WITH TYPE IV HYDROGEN TANKS
           9.3.3 HYDROGEN TRUCKS WITH TYPE IV HYDROGEN TANKS
    9.4 KEY PRIMARY INSIGHTS 
 
10 HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE (Page No. - 172)
     10.1 INTRODUCTION 
     10.2 HYDROGEN BUSES 
             10.2.1 GOVERNMENT INITIATIVES TO BOOST DEMAND FOR HYDROGEN BUSES
             10.2.2 MINIBUSES/SHUTTLES
                       10.2.2.1 HYDROGEN MINIBUS/SHUTTLE MODELS
             10.2.3 CITY/TRANSIT BUSES
                       10.2.3.1 Hydrogen city/transit bus models
     10.3 HYDROGEN TRUCKS 
             10.3.1 GROWING DEMAND FOR LONG-HAUL TRANSPORTATION TO DRIVE HYDROGEN TRUCKS MARKET
             10.3.2 MEDIUM-DUTY TRUCKS
                       10.3.2.1 Hydrogen medium-duty truck models
             10.3.3 HEAVY-DUTY TRUCKS
                       10.3.3.1 Hydrogen heavy-duty truck models
     10.4 KEY PRIMARY INSIGHTS 
 
11 HYDROGEN BUS & TRUCK MARKET, BY REGION (Page No. - 184)
     11.1 INTRODUCTION 
     11.2 ASIA PACIFIC 
             11.2.1 MACROECONOMIC OUTLOOK
             11.2.2 CHINA
                       11.2.2.1 Rising investments in clean and renewable energy to drive growth
             11.2.3 JAPAN
                       11.2.3.1 Increasing demand for hydrogen infrastructure to boost market
             11.2.4 SOUTH KOREA
                       11.2.4.1 Push by local OEMs like Hyundai to encourage market demand and expansion
             11.2.5 INDIA
                       11.2.5.1 Initiatives by government to promote ‘Green Transportation’ to drive growth
     11.3 EUROPE 
             11.3.1 MACROECONOMIC OUTLOOK
             11.3.2 FRANCE
                       11.3.2.1 Presence of major hydrogen-powered fleets to spur demand
             11.3.3 GERMANY
                       11.3.3.1 Developments in hydrogen infrastructure to boost growth
             11.3.4 ITALY
                       11.3.4.1 Shift toward hydrogen-powered vehicles to drive market
             11.3.5 SPAIN
                       11.3.5.1 Strategic partnerships and investments to drive production of hydrogen-powered vehicles
             11.3.6 UK
                       11.3.6.1 Demand for zero-emission vehicles to drive market
     11.4 NORTH AMERICA 
             11.4.1 MACROECONOMIC OUTLOOK
             11.4.2 CANADA
                       11.4.2.1 Demand for fleet decarbonization to propel growth
             11.4.3 US
                       11.4.3.1 Increasing deployment of hydrogen buses to spur popularity of hydrogen-powered vehicles
 
12 COMPETITIVE LANDSCAPE (Page No. - 232)
     12.1 OVERVIEW 
     12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 
     12.3 MARKET SHARE ANALYSIS, 2023 
     12.4 REVENUE ANALYSIS 
     12.5 COMPANY VALUATION AND FINANCIAL METRICS 
     12.6 BRAND/PRODUCT COMPARISON 
     12.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 
             12.7.1 STARS
             12.7.2 EMERGING LEADERS
             12.7.3 PERVASIVE PLAYERS
             12.7.4 PARTICIPANTS
             12.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
     12.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 
             12.8.1 PROGRESSIVE COMPANIES
             12.8.2 RESPONSIVE COMPANIES
             12.8.3 DYNAMIC COMPANIES
             12.8.4 STARTING BLOCKS
             12.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
     12.9 COMPETITIVE SCENARIO 
             12.9.1 PRODUCT LAUNCHES
             12.9.2 DEALS
             12.9.3 EXPANSION
             12.9.4 OTHER DEVELOPMENTS
 
13 COMPANY PROFILES (Page No. - 257)
     13.1 KEY PLAYERS 
             13.1.1 FOTON INTERNATIONAL
                       13.1.1.1 Business overview
                       13.1.1.2 Products/Solutions offered
                       13.1.1.3 Recent developments
                       13.1.1.4 MnM view
                                   13.1.1.4.1 Right to win
                                   13.1.1.4.2 Strategic choices
                                   13.1.1.4.3 Weaknesses & competitive threats
             13.1.2 YUTONG BUS CO., LTD.
                       13.1.2.1 Business overview
                       13.1.2.2 Products/Solutions offered
                       13.1.2.3 Recent developments
                       13.1.2.4 MnM view
                                   13.1.2.4.1 Right to win
                                   13.1.2.4.2 Strategic choices
                                   13.1.2.4.3 Weaknesses & competitive threats
             13.1.3 XIAMEN KING LONG INTERNATIONAL TRADING CO., LTD. (KING LONG)
                       13.1.3.1 Business overview
                       13.1.3.2 Products/Solutions offered
                       13.1.3.3 Recent developments
                       13.1.3.4 MnM view
                                   13.1.3.4.1 Right to win
                                   13.1.3.4.2 Strategic choices
                                   13.1.3.4.3 Weaknesses & competitive threats
             13.1.4 SOLARIS BUS & COACH SP. Z O.O.
                       13.1.4.1 Business overview
                       13.1.4.2 Products/Services offered
                       13.1.4.3 Recent developments
                       13.1.4.4 MnM view
                                   13.1.4.4.1 Right to win
                                   13.1.4.4.2 Strategic choices
                                   13.1.4.4.3 Weaknesses & competitive threats
             13.1.5 HYUNDAI MOTOR COMPANY
                       13.1.5.1 Business overview
                       13.1.5.2 Products/Solutions offered
                       13.1.5.3 Recent developments
                       13.1.5.4 MnM view
                                   13.1.5.4.1 Right to win
                                   13.1.5.4.2 Strategic choices
                                   13.1.5.4.3 Weaknesses & competitive threats
             13.1.6 ANHUI ANKAI AUTOMOBILE CO., LTD
                       13.1.6.1 Business overview
                       13.1.6.2 Products/Solutions offered
                       13.1.6.3 Recent developments
             13.1.7 NIKOLA CORPORATION
                       13.1.7.1 Business overview
                       13.1.7.2 Products/Solutions offered
                       13.1.7.3 Recent developments
             13.1.8 TOYOTA MOTOR CORPORATION
                       13.1.8.1 Business overview
                       13.1.8.2 Products/Solutions offered
                       13.1.8.3 Recent developments
             13.1.9 VDL GROEP
                       13.1.9.1 Business overview
                       13.1.9.2 Products/Solutions offered
                       13.1.9.3 Recent developments
               13.1.10 NFI GROUP
            13.1.10.1 Business overview
            13.1.10.2 Products/Solutions offered
            13.1.10.3 Recent developments
               13.1.11 ZHONGTONG BUS HOLDING CO., LTD.
            13.1.11.1 Business overview
            13.1.11.2 Products/Solutions offered
            13.1.11.3 Recent developments
               13.1.12 DAIMLER TRUCK AG
            13.1.12.1 Business overview
            13.1.12.2 Products/Solutions offered
            13.1.12.3 Recent developments
               13.1.13 IVECO S.P.A
            13.1.13.1 Business overview
            13.1.13.2 Products/Solutions offered
            13.1.13.3 Recent developments
     13.2 OTHER PLAYERS 
             13.2.1 SAIC-IVECO HONGYAN COMMERCIAL VEHICLE CO., LTD.
             13.2.2 SINOTRUK (CNHTC)
             13.2.3 DAYUN AUTO
             13.2.4 DONGFENG MOTOR COMPANY
             13.2.5 ZHEJIANG GEELY HOLDING GROUP
             13.2.6 CHARIOT MOTORS
             13.2.7 OTOKAR
             13.2.8 KARSAN
             13.2.9 RAMPINI CARLO S.P.A.
               13.2.10 FIRST HYDROGEN
               13.2.11 TEVVA
               13.2.12 SANY GROUP
               13.2.13 PACCAR INC.
               13.2.14 WRIGHTBUS
               13.2.15 HYZON
               13.2.16 QINGLING ISUZU MOTORS IMPORT&EXPORT CO., LTD.
               13.2.17 FAW JIEFANG AUTOMOTIVE CO., LTD.
               13.2.18 AB VOLVO
 
14 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 333)
     14.1 URBAN TRANSIT HYDROGEN BUSES TO GAIN TRACTION IN EUROPE 
     14.2 HYDROGEN TRUCKS FOR LONG-HAUL TRANSPORTATION 
             14.2.1 POTENTIAL OF HYDROGEN FUEL CELL TRUCKS IN NORTH AMERICA
     14.3 CHINA TO BE MOST LUCRATIVE HYDROGEN BUS & TRUCK MARKET IN SHORT TERM 
     14.4 CONCLUSION 
 
15 APPENDIX (Page No. - 335)
     15.1 KEY INSIGHTS BY INDUSTRY EXPERTS 
     15.2 DISCUSSION GUIDE 
     15.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     15.4 CUSTOMIZATION OPTIONS 
             15.4.1 HYDROGEN BUS & TRUCK MARKET, BY VEHICLE CLASS AT REGIONAL LEVEL
             15.4.2 HYDROGEN BUS & TRUCK MARKET, ADDITIONAL COUNTRIES (UP TO THREE)
             15.4.3 PROFILING OF ADDITIONAL MARKET PLAYERS (UP TO THREE)
     15.5 RELATED REPORTS 
     15.6 AUTHOR DETAILS 
 
 
LIST OF TABLES (267 TABLES)
 
TABLE 1 HYDROGEN BUS & TRUCK MARKET DEFINITION, BY MOTOR POWER
TABLE 2 HYDROGEN BUS & TRUCK MARKET DEFINITION, BY VEHICLE TYPE
TABLE 3 HYDROGEN BUS & TRUCK MARKET DEFINITION, BY RANGE
TABLE 4 HYDROGEN BUS & TRUCK MARKET DEFINITION, BY TYPE OF TANK
TABLE 5 HYDROGEN BUS & TRUCK MARKET DEFINITION, BY HYDROGEN TANK SIZE
TABLE 6 INCLUSIONS & EXCLUSIONS
TABLE 7 USD EXCHANGE RATES, 2019–2023
TABLE 8 FLEET PLANNING COMPARISON: ELECTRIC FLEET PLANNING VS. HYDROGEN FLEET PLANNING VS. ICE FLEET PLANNING
TABLE 9 COMPARISON OF TRUCKS: BEV, PHEV, FCEV, AND HEV CHARGING/REFUELING
TABLE 10 COMPARISON OF TRUCKS: FCEV HYDROGEN VS. BEV CHARGING/FUELING
TABLE 11 COMPARISON OF BUSES: FCEV HYDROGEN VS. BEV CHARGING/FUELING
TABLE 12 COMPARISON OF BUSES: FCEV HYDROGEN VS. BEV CHARGING/FUELING
TABLE 13 FCEV TRUCK COMPARISON
TABLE 14 FCEV BUS COMPARISON
TABLE 15 HYDROGEN BUS & TRUCK MARKET DYNAMICS: IMPACT ANALYSIS
TABLE 16 AVERAGE SELLING PRICES OF KEY PLAYERS FOR HYDROGEN BUSES, 2020–2023 (USD THOUSAND)
TABLE 17 AVERAGE SELLING PRICES OF KEY OEMS FOR HYDROGEN TRUCKS, 2020–2023 (USD THOUSAND)
TABLE 18 AVERAGE SELLING PRICES OF HYDROGEN BUSES, BY REGION, 2020–2023 (USD THOUSAND)
TABLE 19 AVERAGE SELLING PRICES OF HYDROGEN TRUCKS, BY REGION, 2020–2023 (USD THOUSAND)
TABLE 20 ROLE OF PLAYERS IN ECOSYSTEM
TABLE 21 FOTON INTERNATIONAL: FCEV STRATEGIES
TABLE 22 XIAMEN KING LONG INTERNATIONAL TRADING CO., LTD.: FCEV STRATEGIES
TABLE 23 YUTONG BUS CO., LTD.: FCEV STRATEGIES
TABLE 24 SOLARIS BUS & COACH SP. Z.O.O.: FCEV STRATEGIES
TABLE 25 HYUNDAI MOTOR COMPANY: FCEV STRATEGIES
TABLE 26 HYDROGEN BUS & TRUCK MARKET: BUSINESS MODELS
TABLE 27 US: FUEL CELL ELECTRIC BUS PROJECTS
TABLE 28 FUEL CELL BUS DEVELOPMENT AND DEPLOYMENT ANNOUNCEMENT
TABLE 29 HYDROGEN TRUCKS: EXISTING AND UPCOMING FCEV MODELS
TABLE 30 HYDROGEN BUSES: EXISTING AND UPCOMING FCEV MODELS
TABLE 31 EXISTING AND UPCOMING H2ICE MODELS
TABLE 32 EXPORT DATA FOR HS CODE: 8702, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 33 EXPORT DATA FOR HS CODE: 8703, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 34 IMPORT DATA FOR HS CODE: 8702, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 35 IMPORT DATA FOR HS CODE: 8703, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 36 BILL OF MATERIAL COMPARISON BETWEEN FCEV, ICE, AND BEV BUSES (USD THOUSAND)
TABLE 37 BILL OF MATERIAL COMPARISON BETWEEN FCEV, ICE, AND BEV TRUCKS (USD THOUSAND)
TABLE 38 LIST OF PATENTS GRANTED IN HYDROGEN BUS & TRUCK MARKET, 2021–2024
TABLE 39 NORTH AMERICA: POLICIES AND INITIATIVES SUPPORTING HYDROGEN-POWERED VEHICLES AND INFRASTRUCTURE
TABLE 40 EUROPE: POLICIES AND INITIATIVES SUPPORTING HYDROGEN-POWERED VEHICLES AND INFRASTRUCTURE
TABLE 41 ASIA PACIFIC: POLICIES AND INITIATIVES SUPPORTING HYDROGEN-POWERED VEHICLES AND INFRASTRUCTURE
TABLE 42 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 43 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 44 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 45 COMPARISON OF H2ICE AND FCEV
TABLE 46 LIST OF CONFERENCES & EVENTS, 2024–2025
TABLE 47 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF HYDROGEN BUSES AND TRUCKS (%)
TABLE 48 KEY BUYING CRITERIA FOR HYDROGEN BUSES AND TRUCKS, BY VEHICLE TYPE
TABLE 49 LIST OF FUNDING MADE BY PLAYERS, 2021−2022
TABLE 50 HYDROGEN BUS & TRUCK MARKET, BY MOTOR POWER, 2020–2023 (UNITS)
TABLE 51 HYDROGEN BUS & TRUCK MARKET, BY MOTOR POWER, 2024–2030 (UNITS)
TABLE 52 HYDROGEN BUS & TRUCK MARKET, BY MOTOR POWER, 2031–2035 (UNITS)
TABLE 53 UP TO 200 KW: HYDROGEN BUS MODELS
TABLE 54 UP TO 200 KW: HYDROGEN TRUCK MODELS
TABLE 55 UP TO 200 KW: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2020–2023 (UNITS)
TABLE 56 UP TO 200 KW: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2024–2030 (UNITS)
TABLE 57 UP TO 200 KW: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2031–2035 (UNITS)
TABLE 58 200–400 KW: HYDROGEN BUS MODELS
TABLE 59 200–400 KW: HYDROGEN TRUCK MODELS
TABLE 60 200–400 KW: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2020–2023 (UNITS)
TABLE 61 200–400 KW: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2024–2030 (UNITS)
TABLE 62 200–400 KW: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2031–2035 (UNITS)
TABLE 63 ABOVE 400 KW: HYDROGEN BUS MODELS
TABLE 64 ABOVE 400 KW: HYDROGEN TRUCK MODELS
TABLE 65 ABOVE 400 KW: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2020–2023 (UNITS)
TABLE 66 ABOVE 400 KW: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2024–2030 (UNITS)
TABLE 67 ABOVE 400 KW: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2031–2035 (UNITS)
TABLE 68 HYDROGEN BUS & TRUCK MARKET, BY RANGE, 2020–2023 (UNITS)
TABLE 69 HYDROGEN BUS & TRUCK MARKET, BY RANGE, 2024–2030 (UNITS)
TABLE 70 HYDROGEN BUS & TRUCK MARKET, BY RANGE, 2031–2035 (UNITS)
TABLE 71 UP TO 300 MILES: HYDROGEN BUS MODELS
TABLE 72 UP TO 300 MILES: HYDROGEN TRUCK MODELS
TABLE 73 UP TO 300 MILES: HYDROGEN BUS & TRUCK MARKET, BY COUNTRY, 2020–2023 (UNITS)
TABLE 74 UP TO 300 MILES: HYDROGEN BUS & TRUCK MARKET, BY COUNTRY, 2024–2030 (UNITS)
TABLE 75 UP TO 300 MILES: HYDROGEN BUS & TRUCK MARKET, BY COUNTRY, 2031–2035 (UNITS)
TABLE 76 300–500 MILES: HYDROGEN BUS MODELS
TABLE 77 300–500 MILES: HYDROGEN TRUCK MODELS
TABLE 78 300–500 MILES: HYDROGEN BUS & TRUCK MARKET, BY COUNTRY, 2020–2023 (UNITS)
TABLE 79 300–500 MILES: HYDROGEN BUS & TRUCK MARKET, BY COUNTRY, 2024–2030 (UNITS)
TABLE 80 300–500 MILES: HYDROGEN BUS & TRUCK MARKET, BY COUNTRY, 2031–2035 (UNITS)
TABLE 81 ABOVE 500 MILES: HYDROGEN BUS MODELS
TABLE 82 ABOVE 500 MILES: HYDROGEN TRUCK MODELS
TABLE 83 ABOVE 500 MILES: HYDROGEN BUS & TRUCK MARKET, BY COUNTRY, 2020–2023 (UNITS)
TABLE 84 ABOVE 500 MILES: HYDROGEN BUS & TRUCK MARKET, BY COUNTRY, 2024–2030 (UNITS)
TABLE 85 ABOVE 500 MILES: HYDROGEN BUS & TRUCK MARKET, BY COUNTRY, 2031–2035 (UNITS)
TABLE 86 HYDROGEN BUS & TRUCK MARKET, BY HYDROGEN TANK SIZE, 2020–2023 (UNITS)
TABLE 87 HYDROGEN BUS & TRUCK MARKET, BY HYDROGEN TANK SIZE, 2024–2030 (UNITS)
TABLE 88 HYDROGEN BUS & TRUCK MARKET, BY HYDROGEN TANK SIZE, 2031–2035 (UNITS)
TABLE 89 < 30 KG: HYDROGEN BUS AND TRUCK MODELS
TABLE 90 < 30 KG: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2020–2023 (UNITS)
TABLE 91 < 30 KG: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2024–2030 (UNITS)
TABLE 92 < 30 KG: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2031–2035 (UNITS)
TABLE 93 30–60 KG: HYDROGEN BUS AND TRUCK MODELS
TABLE 94 30–60 KG: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2020–2023 (UNITS)
TABLE 95 30–60 KG: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2024–2030 (UNITS)
TABLE 96 30–60 KG: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2031–2035 (UNITS)
TABLE 97 > 60 KG: HYDROGEN BUS AND TRUCK MODELS
TABLE 98 > 60 KG: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2020–2023 (UNITS)
TABLE 99 > 60 KG: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2024–2030 (UNITS)
TABLE 100 > 60 KG: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2031–2035 (UNITS)
TABLE 101 HYDROGEN TANK TYPE CLASSIFICATION FOR AUTOMOTIVE APPLICATION
TABLE 102 HYDROGEN BUS & TRUCK MARKET, BY TYPE OF TANK, 2020–2023 (UNITS)
TABLE 103 HYDROGEN BUS & TRUCK MARKET, BY TYPE OF TANK, 2024–2030 (UNITS)
TABLE 104 HYDROGEN BUS & TRUCK MARKET, BY TYPE OF TANK, 2031–2035 (UNITS)
TABLE 105 HYDROGEN BUSES WITH TYPE III HYDROGEN TANKS
TABLE 106 HYDROGEN TRUCKS WITH TYPE III HYDROGEN TANKS
TABLE 107 TYPE III: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2020–2023 (UNITS)
TABLE 108 TYPE III: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2024–2030 (UNITS)
TABLE 109 TYPE III: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2031–2035 (UNITS)
TABLE 110 HYDROGEN BUSES WITH TYPE IV HYDROGEN TANKS
TABLE 111 HYDROGEN TRUCKS WITH TYPE IV HYDROGEN TANKS
TABLE 112 TYPE IV: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2020–2023 (UNITS)
TABLE 113 TYPE IV: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2024–2030 (UNITS)
TABLE 114 TYPE IV: HYDROGEN BUS & TRUCK MARKET, BY REGION, 2031–2035 (UNITS)
TABLE 115 HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2020–2023 (USD MILLION)
TABLE 116 HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2024–2030 (USD MILLION)
TABLE 117 HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2031–2035 (USD MILLION)
TABLE 118 HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS)
TABLE 119 HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
TABLE 120 HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2031–2035 (UNITS)
TABLE 121 HYDROGEN BUSES MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 122 HYDROGEN BUSES MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 123 HYDROGEN BUSES MARKET, BY REGION, 2031–2035 (USD MILLION)
TABLE 124 HYDROGEN BUSES MARKET, BY REGION, 2020–2023 (UNITS)
TABLE 125 HYDROGEN BUSES MARKET, BY REGION, 2024–2030 (UNITS)
TABLE 126 HYDROGEN BUSES MARKET, BY REGION, 2031–2035 (UNITS)
TABLE 127 HYDROGEN MINIBUS/SHUTTLE MODELS
TABLE 128 HYDROGEN CITY/TRANSIT BUS MODELS
TABLE 129 CLASSIFICATION OF HYDROGEN TRUCKS BY GVW
TABLE 130 HYDROGEN TRUCKS MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 131 HYDROGEN TRUCKS MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 132 HYDROGEN TRUCKS MARKET, BY REGION, 2031–2035 (USD MILLION)
TABLE 133 HYDROGEN TRUCKS MARKET, BY REGION, 2020–2023 (UNITS)
TABLE 134 HYDROGEN TRUCKS MARKET, BY REGION, 2024–2030 (UNITS)
TABLE 135 HYDROGEN TRUCKS MARKET, BY REGION, 2031–2035 (UNITS)
TABLE 136 HYDROGEN MEDIUM-DUTY TRUCK MODELS
TABLE 137 HYDROGEN HEAVY-DUTY TRUCK MODELS
TABLE 138 HYDROGEN BUS & TRUCK MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 139 HYDROGEN BUS & TRUCK MARKET, BY REGION, 2024–2030 (USD MILLION)
TABLE 140 HYDROGEN BUS & TRUCK MARKET, BY REGION, 2031–2035 (USD MILLION)
TABLE 141 HYDROGEN BUS & TRUCK MARKET, BY REGION, 2020–2023 (UNITS)
TABLE 142 HYDROGEN BUS & TRUCK MARKET, BY REGION, 2024–2030 (UNITS)
TABLE 143 HYDROGEN BUS & TRUCK MARKET, BY REGION, 2031–2035 (UNITS)
TABLE 144 INITIATIVES TAKEN BY MAJOR COUNTRIES TO PROMOTE USE OF HYDROGEN BUSES AND TRUCKS
TABLE 145 ASIA PACIFIC HYDROGEN BUS & TRUCK MARKET: UPCOMING PROJECTS
TABLE 146 ASIA PACIFIC: HYDROGEN BUS & TRUCK MARKET, BY COUNTRY, 2020–2023 (UNITS)
TABLE 147 ASIA PACIFIC: HYDROGEN BUS & TRUCK MARKET, BY COUNTRY, 2024–2030 (UNITS)
TABLE 148 ASIA PACIFIC: HYDROGEN BUS & TRUCK MARKET, BY COUNTRY, 2031–2035 (UNITS)
TABLE 149 CHINA: STRATEGIES TO PROMOTE PRODUCTION OF HYDROGEN-POWERED VEHICLES
TABLE 150 CHINA: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS)
TABLE 151 CHINA: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
TABLE 152 CHINA: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2031–2035 (UNITS)
TABLE 153 JAPAN: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS)
TABLE 154 JAPAN: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
TABLE 155 JAPAN: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2031–2035 (UNITS)
TABLE 156 SOUTH KOREA: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS)
TABLE 157 SOUTH KOREA: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
TABLE 158 SOUTH KOREA: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2031–2035 (UNITS)
TABLE 159 INDIA: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS)
TABLE 160 INDIA: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
TABLE 161 INDIA: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2031–2035 (UNITS)
TABLE 162 EUROPE: TARGETS, VISIONS, AND PROJECTIONS
TABLE 163 EUROPE: HYDROGEN BUS & TRUCK MARKET: ONGOING PROJECTS
TABLE 164 EUROPE: HYDROGEN BUS & TRUCK MARKET, BY COUNTRY, 2020–2023 (UNITS)
TABLE 165 EUROPE: HYDROGEN BUS & TRUCK MARKET, BY COUNTRY, 2024–2030 (UNITS)
TABLE 166 EUROPE: HYDROGEN BUS & TRUCK MARKET, BY COUNTRY, 2031–2035 (UNITS)
TABLE 167 FRANCE: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS)
TABLE 168 FRANCE: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
TABLE 169 FRANCE: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2031–2035 (UNITS)
TABLE 170 GERMANY: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS)
TABLE 171 GERMANY: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
TABLE 172 GERMANY: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2031–2035 (UNITS)
TABLE 173 ITALY: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS)
TABLE 174 ITALY: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
TABLE 175 ITALY: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2031–2035 (UNITS)
TABLE 176 SPAIN: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS)
TABLE 177 SPAIN: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
TABLE 178 SPAIN: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2031–2035 (UNITS)
TABLE 179 UK: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS)
TABLE 180 UK: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
TABLE 181 UK: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2031–2035 (UNITS)
TABLE 182 NORTH AMERICA: HYDROGEN BUS & TRUCK MARKET: UPCOMING PROJECTS
TABLE 183 NORTH AMERICA: HYDROGEN BUS & TRUCK MARKET, BY COUNTRY, 2020–2023 (UNITS)
TABLE 184 NORTH AMERICA: HYDROGEN BUS & TRUCK MARKET, BY COUNTRY, 2024–2030 (UNITS)
TABLE 185 NORTH AMERICA: HYDROGEN BUS & TRUCK MARKET, BY COUNTRY, 2031–2035 (UNITS)
TABLE 186 CANADA: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS)
TABLE 187 CANADA: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
TABLE 188 CANADA: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2031–2035 (UNITS)
TABLE 189 US: TARGETS, VISIONS, AND PROJECTIONS
TABLE 190 US: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2020–2023 (UNITS)
TABLE 191 US: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2024–2030 (UNITS)
TABLE 192 US: HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE, 2031–2035 (UNITS)
TABLE 193 OVERVIEW OF STRATEGIES DEPLOYED BY KEY PLAYERS IN HYDROGEN BUS & TRUCK MARKET
TABLE 194 MARKET SHARE ANALYSIS, 2023
TABLE 195 COMPANY REGIONAL FOOTPRINT
TABLE 196 COMPANY VEHICLE TYPE FOOTPRINT
TABLE 197 DETAILED LIST OF KEY STARTUPS/SMES
TABLE 198 COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
TABLE 199 HYDROGEN BUS & TRUCK MARKET: PRODUCT LAUNCHES & DEVELOPMENTS, 2021–2024
TABLE 200 HYDROGEN BUS & TRUCK MARKET: DEALS, 2021–2024
TABLE 201 HYDROGEN BUS & TRUCK MARKET: EXPANSION, 2021–2024
TABLE 202 HYDROGEN BUS & TRUCK MARKET: OTHER DEVELOPMENTS, 2021–2024
TABLE 203 FOTON INTERNATIONAL: COMPANY OVERVIEW
TABLE 204 FOTON INTERNATIONAL: PRODUCTS/SOLUTIONS OFFERED
TABLE 205 FOTON INTERNATIONAL: PRODUCT LAUNCHES & ENHANCEMENTS
TABLE 206 FOTON INTERNATIONAL: DEALS
TABLE 207 FOTON INTERNATIONAL: EXPANSION
TABLE 208 FOTON INTERNATIONAL: OTHER DEVELOPMENTS
TABLE 209 YUTONG BUS CO., LTD.: COMPANY OVERVIEW
TABLE 210 YUTONG BUS CO., LTD.: PRODUCTS/SOLUTIONS OFFERED
TABLE 211 YUTONG BUS CO., LTD.: PRODUCT LAUNCHES & ENHANCEMENTS
TABLE 212 YUTONG BUS CO., LTD.: DEALS
TABLE 213 YUTONG BUS CO., LTD.: EXPANSION
TABLE 214 YUTONG BUS CO., LTD.: OTHER DEVELOPMENTS
TABLE 215 XIAMEN KING LONG INTERNATIONAL TRADING CO., LTD.: COMPANY OVERVIEW
TABLE 216 XIAMEN KING LONG INTERNATIONAL TRADING CO., LTD.: PRODUCTS/SOLUTIONS OFFERED
TABLE 217 XIAMEN KING LONG INTERNATIONAL TRADING CO., LTD.: DEALS
TABLE 218 XIAMEN KING LONG INTERNATIONAL TRADING CO., LTD.: OTHER DEVELOPMENTS
TABLE 219 SOLARIS BUS & COACH SP. Z O.O.: COMPANY OVERVIEW
TABLE 220 SOLARIS BUS & COACH SP. Z O.O.: PRODUCTS/SOLUTIONS OFFERED
TABLE 221 SOLARIS BUS & COACH SP. Z O.O.: PRODUCT LAUNCHES & ENHANCEMENTS
TABLE 222 SOLARIS BUS & COACH SP. Z O.O.: DEALS
TABLE 223 SOLARIS BUS & COACH SP. Z O.O.: OTHER DEVELOPMENTS
TABLE 224 HYUNDAI MOTOR CORPORATION: COMPANY OVERVIEW
TABLE 225 HYUNDAI MOTOR CORPORATION: PRODUCTS/SOLUTIONS OFFERED
TABLE 226 HYUNDAI MOTOR CORPORATION: DEALS
TABLE 227 HYUNDAI MOTOR CORPORATION: OTHER DEVELOPMENTS
TABLE 228 ANHUI ANKAI AUTOMOBILE CO., LTD: COMPANY OVERVIEW
TABLE 229 ANHUI ANKAI AUTOMOBILE CO., LTD: PRODUCTS/SOLUTIONS OFFERED
TABLE 230 ANHUI ANKAI AUTOMOBILE CO., LTD: PRODUCT LAUNCHES & ENHANCEMENTS
TABLE 231 ANHUI ANKAI AUTOMOBILE CO., LTD: OTHER DEVELOPMENTS
TABLE 232 NIKOLA CORPORATION: COMPANY OVERVIEW
TABLE 233 NIKOLA CORPORATION: PRODUCTS/SOLUTIONS OFFERED
TABLE 234 NIKOLA CORPORATION: PRODUCT LAUNCHES & ENHANCEMENTS
TABLE 235 NIKOLA CORPORATION: DEALS
TABLE 236 NIKOLA CORPORATION: EXPANSION
TABLE 237 NIKOLA CORPORATION: OTHER DEVELOPMENTS
TABLE 238 TOYOTA MOTOR CORPORATION: COMPANY OVERVIEW
TABLE 239 TOYOTA MOTOR CORPORATION: PRODUCTS/SOLUTIONS OFFERED
TABLE 240 TOYOTA MOTOR CORPORATION: DEALS
TABLE 241 TOYOTA MOTOR CORPORATION: OTHER DEVELOPMENTS
TABLE 242 VDL GROEP: COMPANY OVERVIEW
TABLE 243 VDL GROEP: PRODUCTS/SOLUTIONS OFFERED
TABLE 244 VDL GROEP: PRODUCT LAUNCHES & ENHANCEMENTS
TABLE 245 VDL GROEP: DEALS
TABLE 246 VDL GROEP: EXPANSION
TABLE 247 VDL GROEP: OTHER DEVELOPMENTS
TABLE 248 NFI GROUP: COMPANY OVERVIEW
TABLE 249 NFI GROUP: PRODUCTS/SOLUTIONS OFFERED
TABLE 250 NFI GROUP: PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 251 NFI GROUP: DEALS
TABLE 252 NFI GROUP: OTHER DEVELOPMENTS
TABLE 253 ZHONGTONG BUS HOLDING CO., LTD.: COMPANY OVERVIEW
TABLE 254 ZHONGTONG BUS HOLDING CO., LTD.: PRODUCTS/SOLUTIONS OFFERED
TABLE 255 ZHONGTONG BUS HOLDING CO., LTD.: PRODUCT LAUNCHES & ENHANCEMENTS
TABLE 256 ZHONGTONG BUS HOLDING CO., LTD.: DEALS
TABLE 257 DAIMLER TRUCK AG: COMPANY OVERVIEW
TABLE 258 DAIMLER TRUCK AG: PRODUCTS/SOLUTIONS OFFERED
TABLE 259 DAIMLER TRUCK AG: PRODUCT LAUNCHES & ENHANCEMENTS
TABLE 260 DAIMLER TRUCK AG: DEALS
TABLE 261 DAIMLER TRUCK AG: EXPANSION
TABLE 262 DAIMLER TRUCK AG: OTHER DEVELOPMENTS
TABLE 263 IVECO S.P.A.: COMPANY OVERVIEW
TABLE 264 IVECO S.P.A.: PRODUCTS/SOLUTIONS OFFERED
TABLE 265 IVECO S.P.A.: DEALS
TABLE 266 IVECO S.P.A.: EXPANSION
TABLE 267 IVECO S.P.A.: OTHER DEVELOPMENTS
 
  
LIST OF FIGURES (106 FIGURES)
 
FIGURE 1 RESEARCH DESIGN
FIGURE 2 RESEARCH PROCESS FLOW
FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
FIGURE 4 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY FOR HYDROGEN BUS & TRUCK MARKET: BOTTOM-UP APPROACH
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY FOR HYDROGEN BUS & TRUCK MARKET: TOP-DOWN APPROACH
FIGURE 7 HYDROGEN BUS & TRUCK MARKET: RESEARCH DESIGN & METHODOLOGY
FIGURE 8 DATA TRIANGULATION
FIGURE 9 MARKET GROWTH PROJECTIONS FROM DEMAND-SIDE DRIVERS
FIGURE 10 DEMAND AND SUPPLY-SIDE FACTOR ANALYSIS
FIGURE 11 REPORT SUMMARY
FIGURE 12 HYDROGEN BUS & TRUCK MARKET, BY REGION
FIGURE 13 HYDROGEN BUS & TRUCK MARKET, BY VEHICLE TYPE
FIGURE 14 HYDROGEN BUS & TRUCK MARKET, BY TYPE OF TANK
FIGURE 15 KEY PLAYERS IN HYDROGEN BUS & TRUCK MARKET
FIGURE 16 RISING ENVIRONMENTAL CONCERNS AND EXPANSION OF HYDROGEN INFRASTRUCTURE TO DRIVE GROWTH
FIGURE 17 HYDROGEN TRUCKS SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
FIGURE 18 TYPE IV SEGMENT TO ACCOUNT FOR SIGNIFICANT SHARE BY 2035
FIGURE 19 30–60 KG SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
FIGURE 20 300–500 MILES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
FIGURE 21 200–400 KW SEGMENT TO ACCOUNT FOR LARGEST SHARE BY 2035
FIGURE 22 ASIA PACIFIC TO BE LARGEST MARKET IN 2024
FIGURE 23 WORKING PRINCIPLE OF HYDROGEN BUSES
FIGURE 24 COMPONENTS OF HYDROGEN TRUCKS
FIGURE 25 HYDROGEN BUS & TRUCK MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
FIGURE 26 FLEET DECARBONIZATION PROCESS
FIGURE 27 PACIFIC NORTHWEST HYDROGEN HUB LED BY GOVERNMENT INITIATIVES
FIGURE 28 DISPENSED COST BUILD-UP FOR FUTURE TRANSPORTATION FUEL TYPES
FIGURE 29 COMPARISON OF AUTOIGNITION TEMPERATURE OF VARIOUS FUEL TYPES
FIGURE 30 COMPARISON OF MINIMUM IGNITION ENERGY FOR VARIOUS FUEL TYPES
FIGURE 31 MOBILE HYDROGEN REFUELING STATION MODEL IN JAPAN
FIGURE 32 HYDROGEN PRODUCTION WITH INTEGRATION OF RENEWABLE ENERGY
FIGURE 33 HYDROGEN CORRIDORS PLANNED BY EHB
FIGURE 34 HYDROGEN CORRIDORS: INFRASTRUCTURE COMPANIES
FIGURE 35 HYDROGEN STORAGE AND TRANSPORTATION
FIGURE 36 AVERAGE SELLING PRICES OF KEY PLAYERS FOR HYDROGEN BUSES, 2020–2023 (USD THOUSAND)
FIGURE 37 AVERAGE SELLING PRICES OF KEY OEMS FOR HYDROGEN TRUCKS, 2020–2023 (USD THOUSAND)
FIGURE 38 HYDROGEN BUSES MARKET: AVERAGE SELLING PRICE TREND, BY REGION
FIGURE 39 HYDROGEN TRUCKS MARKET: AVERAGE SELLING PRICE TREND, BY REGION
FIGURE 40 ECOSYSTEM ANALYSIS
FIGURE 41 HYDROGEN BUS & TRUCK MARKET: VALUE CHAIN ANALYSIS
FIGURE 42 GLOBAL PUBLIC HYDROGEN REFUELING STATIONS: 2023
FIGURE 43 GLOBAL HYDROGEN PROJECTS: 2023
FIGURE 44 FUEL CELL BUSES IN OPERATION: 2023
FIGURE 45 HYDROGEN BUSES: FUEL CAPACITY VS. RANGE
FIGURE 46 HYDROGEN TRUCKS: FUEL CAPACITY VS. RANGE
FIGURE 47 TIMELINE OF H2ICE TECHNOLOGY, 2017−2030
FIGURE 48 BEV VS. FCEV TRUCKS: 10-YEAR TOTAL COST OF OWNERSHIP BREAKDOWN
FIGURE 49 BEV BUSES VS. FCEV BUSES: 10-YEAR TOTAL COST OF OWNERSHIP BREAKDOWN
FIGURE 50 BILL OF MATERIAL COMPARISON BETWEEN FCEV, ICE, AND BEV BUSES (USD THOUSAND)
FIGURE 51 BILL OF MATERIAL COMPARISON BETWEEN FCEV, ICE, AND BEV TRUCKS (USD THOUSAND)
FIGURE 52 NUMBER OF PATENTS GRANTED FOR HYDROGEN BUSES AND TRUCKS, 2013–2024
FIGURE 53 TECHNOLOGY ROADMAP FOR FCEVS
FIGURE 54 WORKING OF DIRECT BOROHYDRIDE FUEL CELLS
FIGURE 55 TOYOTA’S NEW PACKAGED FUEL CELL SYSTEM MODULE
FIGURE 56 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF HYDROGEN BUSES AND TRUCKS
FIGURE 57 KEY BUYING CRITERIA FOR HYDROGEN BUSES AND TRUCKS, BY VEHICLE TYPE
FIGURE 58 INVESTMENT & FUNDING SCENARIO, 2021−2024
FIGURE 59 200–400 KW SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
FIGURE 60 300–500 MILES SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
FIGURE 61 30–60 KG SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
FIGURE 62 TYPE IV SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
FIGURE 63 HYDROGEN TRUCKS SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
FIGURE 64 HYDROGEN BUS & TRUCK MARKET, BY REGION, 2024 VS. 2035 (USD MILLION)
FIGURE 65 ASIA PACIFIC: HYDROGEN BUS & TRUCK MARKET SNAPSHOT
FIGURE 66 ASIA PACIFIC: REAL GDP GROWTH RATE, BY COUNTRY, 2023–2025
FIGURE 67 ASIA PACIFIC: GDP PER CAPITA, BY COUNTRY, 2023–2025
FIGURE 68 ASIA PACIFIC: INFLATION RATE (CONSUMER PRICE INDEX), BY COUNTRY, 2023–2025
FIGURE 69 ASIA PACIFIC: MANUFACTURING INDUSTRY’S CONTRIBUTION TO GDP, 2023 (USD TRILLION)
FIGURE 70 CHINA: ROADMAP AND STRATEGY FOR HYDROGEN-POWERED VEHICLES, 2020–2030
FIGURE 71 JAPAN: ROADMAP AND STRATEGY FOR HYDROGEN-POWERED VEHICLES, 2020–2030
FIGURE 72 SOUTH KOREA: ROADMAP AND STRATEGY FOR HYDROGEN GENERATION, 2020–2035
FIGURE 73 EUROPE: ROADMAP FOR HYDROGEN PRODUCTION
FIGURE 74 EUROPE: ROADMAP FOR HYDROGEN BUSES
FIGURE 75 EUROPE: HYDROGEN BUS & TRUCK MARKET, BY COUNTRY, 2024–2035 (UNITS)
FIGURE 76 EUROPE: REAL GDP GROWTH RATE, BY COUNTRY, 2023–2025
FIGURE 77 EUROPE: GDP PER CAPITA, BY COUNTRY, 2023–2025
FIGURE 78 EUROPE: INFLATION RATE (CONSUMER PRICE INDEX) BY COUNTRY, 2023–2025
FIGURE 79 EUROPE: MANUFACTURING INDUSTRY’S CONTRIBUTION TO GDP, 2023 (USD TRILLION)
FIGURE 80 UK: HYDROGEN NET ZERO INVESTMENT ROADMAP, 2021–2035
FIGURE 81 NORTH AMERICA: HYDROGEN BUS & TRUCK MARKET SNAPSHOT
FIGURE 82 NORTH AMERICA: REAL GDP GROWTH RATE, BY COUNTRY, 2023–2025
FIGURE 83 NORTH AMERICA: GDP PER CAPITA, BY COUNTRY, 2023–2025
FIGURE 84 NORTH AMERICA: INFLATION RATE (CONSUMER PRICE INDEX), BY COUNTRY, 2023–2025
FIGURE 85 NORTH AMERICA: MANUFACTURING INDUSTRY’S CONTRIBUTION TO GDP, 2023 (USD TRILLION)
FIGURE 86 MARKET SHARE ANALYSIS OF KEY PLAYERS, 2022
FIGURE 87 REVENUE ANALYSIS OF KEY PLAYERS, 2019–2023
FIGURE 88 COMPANY VALUATION OF KEY PLAYERS
FIGURE 89 FINANCIAL METRICS OF KEY PLAYERS
FIGURE 90 BRAND/PRODUCT COMPARISON OF TOP FIVE PLAYERS
FIGURE 91 HYDROGEN BUS & TRUCK MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023
FIGURE 92 HYDROGEN BUS & TRUCK MARKET: COMPANY FOOTPRINT, 2023
FIGURE 93 HYDROGEN BUS & TRUCK MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023
FIGURE 94 FOTON INTERNATIONAL: COMPANY SNAPSHOT
FIGURE 95 YUTONG BUS CO., LTD.: COMPANY SNAPSHOT
FIGURE 96 XIAMEN KING LONG INTERNATIONAL TRADING CO., LTD.: COMPANY SNAPSHOT
FIGURE 97 SOLARIS BUS & COACH SP. Z O.O.: COMPANY SNAPSHOT
FIGURE 98 HYUNDAI MOTOR CORPORATION: COMPANY SNAPSHOT (2023)
FIGURE 99 ANHUI ANKAI AUTOMOBILE CO., LTD: COMPANY SNAPSHOT
FIGURE 100 NIKOLA CORPORATION: COMPANY SNAPSHOT
FIGURE 101 TOYOTA MOTOR CORPORATION: COMPANY SNAPSHOT
FIGURE 102 VDL GROEP: COMPANY SNAPSHOT
FIGURE 103 NFI GROUP: COMPANY SNAPSHOT
FIGURE 104 ZHONGTONG BUS HOLDING CO., LTD.: COMPANY SNAPSHOT
FIGURE 105 DAIMLER TRUCK AG: COMPANY SNAPSHOT
FIGURE 106 IVECO S.P.A.: COMPANY SNAPSHOT

The study involved four major activities in estimating the current size of the hydrogen truck market. Exhaustive secondary research was done to collect information on the market, the peer market, and the child markets. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as company annual reports/presentations, press releases, industry association publications [for example, International Organization of Motor Vehicle Manufacturers (OICA), National Highway Traffic Safety Administration (NHTSA), International Energy Association (IEA)], articles, directories, technical handbooks, trade websites, technical articles, and databases (for example, Marklines, and Factiva) have been used to identify and collect information useful for an extensive commercial study of the global hydrogen truck market.

Primary Research

Extensive primary research was conducted after understanding the scenario of the hydrogen truck market through secondary research. Several primary interviews were conducted with market experts from both the demand (OEMs) and supply (fuel cell component providers, hydrogen integrators, and other component manufacturers) across three major regions: North America, Europe and Asia Pacific. Approximately 52% and 48% of primary interviews were conducted from the demand and supply sides. Primary data was collected through questionnaires, emails, and telephonic interviews.

In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in this report. After interacting with industry experts, brief sessions with highly experienced independent consultants were also conducted to reinforce the findings from primaries. This and the in-house subject-matter experts’ opinions led to the findings described in the remainder of this report.

Hydrogen Truck Market  Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The bottom-up approach was used to estimate and validate the size of the hydrogen truck market. In this approach, the vehicle sales statistics for each vehicle type (hydrogen buses and trucks) were considered at a country level. To determine the market size in terms of volume, a model mapping of hydrogen buses and trucks was carried out for each country and vehicle type. The number of hydrogen truck models varied from country to country. After analyzing the models, the segments were classified further into power output type, component, and region. The market penetration of the hydrogen truck segments, from the model mapping, was then multiplied by the country-level hydrogen truck sales considered in the study, which gives the volume of each segment type. The country-level data was summed up to arrive at the region-level data in terms of volume. The summation of the country-level market sizes gave the regional market size, and further summation of the regional market size provided the global hydrogen truck market size.

BOTTOM-UP APPROACH

Hydrogen Truck Market  Bottom Up Approach

To know about the assumptions considered for the study, Request for Free Sample Report

Market Size Validation

The top-down approach has been used to estimate and validate the size of the hydrogen truck market at the global level, and by range, motor power, tank type, tank size and fuel cell technology segments in terms of volume.

The top-down approach has been used to estimate and validate the size of the hydrogen truck market. This approach identifies key range, motor power, tank type, tank size and fuel cell technology segments of the hydrogen truck market at the regional level. The penetration of each identified segment has been multiplied by the volume of each vehicle at the regional level to derive the total segment volume.

For instance,

  • The hydrogen truck market for tank type has been derived using the top-down approach to estimate the subsegments- Type III, Type IV.
  • The market size, in terms of volume, has been derived at the regional level for each segment using this method. The total volume of the automotive fuel cell market has been multiplied by the adoption rate breakup percentage of these segments at the regional level (range, motor power, tank size, tank type, fuel cell technlogy).

TOP-DOWN APPROACH

Hydrogen Truck Market Top Down Approach

Data Triangulation

After arriving at the overall market size of the global market through the above-mentioned methodology, this market was split into several segments and subsegments. The data triangulation and market breakdown procedure were employed to complete the overall market engineering process and arrive at the exact market value data for the key segments and subsegments, wherever applicable. The extrapolated market data was triangulated by studying various macro indicators and regional trends from both the demand- and supply-side participants.

Market Definition

Hydrogen Bus and Truck refers to heavy-duty vehicles powered by hydrogen fuel cells. A hydrogen fuel cell generates electricity through a chemical reaction between hydrogen and oxygen, which then powers the vehicle's electric motor. Hydrogen buses offer zero-emission transportation, helping to reduce air pollution in urban areas. They can be quickly refueled and provide a range comparable to or better than traditional diesel buses. Hydrogen trucks are designed for various applications, such as long-haul transportation, construction, and delivery services. They provide the benefits of zero emissions and can be refueled quickly, making them an effective alternative to diesel and CNG trucks.

List of Key Stakeholders

  • Automotive Blogs
  • Automotive Component Manufacturers Association (ACMA)
  • Automotive Electronics Council (AEC)
  • Automotive Fuel Cell Providers
  • Automotive Magazines
  • Automotive Original Equipment Manufacturers (OEMs)
  • Company Websites
  • Corporate Filings (such as Annual Reports, Investor Presentations, and Financial Statements)
  • Country-level Automotive Associations
  • Databases such as Factiva, Marklines and Bloomberg
  • Department of Transportation (DoT)
  • EAFO (European Alternative Fuels Observatory)
  • Electric Vehicle Association of Asia Pacific (EVAAP)
  • Environmental Protection Agency (EPA)
  • European Automobile Manufacturers Association (ACEA)
  • Freight Transport Association
  • Fuel Cell and Hydrogen Energy Association (FCHEA)
  • German Association of the Automotive Industry (VDA)
  • Government & Research Organizations
  • Hydrogen Council
  • International Council on Clean Transportation (ICCT)
  • International Electrotechnical Commission (IEC)
  • International Energy Agency (IEA)
  • International Energy Agency (IEA)
  • International Organization of Motor Vehicle Manufacturers (OICA)
  • National Electrical Manufacturers Association (NEMA)
  • National Highway Traffic Safety Administration (NHTSA)
  • National Institute of Standards and Technology (NIST)
  • Navigation Data Standard Association
  • Organisation for Economic Co-Operation and Development (OECD)
  • Organisation Internationale des Constructeurs d'Automobiles (OICA)
  • Other Automotive-related Paid and Free Databases
  • System Integrators
  • The Alternative Fuels Data Center (AFDC)
  • Trade, Business, and Related Associations
  • Webinars

Report Objectives

  • To analyze and forecast the Hydrogen truck market in terms of value (USD million) and volume (thousand units) from 2024 to 2035
  • To segment the market by vehicle type, by motor power, by range, by fuel cell technology, tank size, type of tank, and region
    • To segment and forecast the market size by volume based on Vehicle Type (Hydrogen Bus, Hydrogen Truck)
    • To segment and forecast the market size by volume based on Motor Power (Less than 200 KW, 200-400 KW, More than 400 KW)
    • To segment and forecast the market size by volume based on Type of Tank (Tank  3, Tank 4)
    • To segment and forecast the market size by volume based on Range (Upto 300 Miles, Between 300-500 Miles, Above 500 Miles)
    • To segment and forecast the market size by volume based on Hydrogen tank size (<30 Kg, 30–60 Kg, >60 Kg)
    • To segment and forecast the market size by volume based on Fuel Cell Technology (Proton Exchange Membrane Fuel Cell (PEMFC), Solid Oxide Fuel Cell (SOFC))
    • To segment and forecast the market by volume based on region (Asia Pacific, Europe, and North America)
  • To provide detailed information about the factors influencing the market growth (drivers, challenges, restraints, and opportunities)
  • To strategically analyze the market for individual growth trends, prospects, and contributions to the total market
  • To study the following with respect to the market
    • Value Chain Analysis
    • Ecosystem Analysis
    • Technology Analysis
    • Trade Analysis
    • Pricing Analysis 
    • Case Study Analysis
    • Patent Analysis
    • Tariff and Regulatory Landscape
    • Key Stakeholders and Buying Criteria
    • OEM vs. Existing and upcoming hydrogen vehicle models
    • Country-level targets of electric & hydrogen bus/truck and stations
    • Investment and funding scenario
    • Funding by use case application
  • To strategically profile the key players and comprehensively analyze their market share and core competencies
  • To analyze the opportunities for stakeholders and the competitive landscape for market leaders
  • To track and analyze competitive developments such as deals, product launches/developments, expansions, and other activities undertaken by the key industry participants

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Published ON
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