Hydrogen Trucks Market, By Product Type, By Tonnage, By Application, By Geography

Description

The global hydrogen trucks market is estimated to be valued at US$ 4.98 Bn in 2024 and is expected to reach US$ 62.45 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 43.5% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 4.98 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	43.50%	2031 Value Projection:	US$ 62.45 Bn

Figure. Hydrogen Trucks Market Share (%), By Region 2024

Increasing concerns about environmental pollution and carbon emissions have prompted automakers and governments across the globe to shift focus towards zero-emission fuels and vehicles. One such promising alternative is hydrogen, which produces only water as a by-product during usage. Several companies are investing heavily in the research and development of fuel cell and hydrogen combustion technologies to power heavy commercial vehicles like trucks and buses. The global hydrogen trucks market is expected to witness significant growth in the coming years due to various government policies and initiatives supporting clean hydrogen technologies. The transportation sector accounts for a major share of carbon emissions worldwide and transitioning it to run on hydrogen will be a major step towards sustainability.

Market Dynamics:

The global hydrogen trucks market is driven by stringent emission norms worldwide, declining battery costs of fuel cells, and government subsidies for hydrogen infrastructure development and fuel cell vehicle procurement. However, high initial costs of fuel cell trucks as compared to conventional diesel trucks and lack of widespread hydrogen refueling stations currently inhibit the largescale adoption of this technology. On the positive side, focus of leading automakers as well as growing investments by national and local governments in building hydrogen economy present lucrative opportunities for market players. Partnerships across industry and academia will be crucial to accelerate cost reductions through the scaling up of mass manufacturing.

Key Features of the Study:

This report provides in-depth analysis of the global hydrogen trucks market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global hydrogen trucks market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include Anglo American Platinum Ltd., Ares Motor Works, Beiqi Foton Motor, Cellcentric GmbH & Co. KG, Cummins Inc., Dongfeng Motor Corporation, Esoro AG, Grove Hydrogen Automotive, H2X Global, Hyundai Motor Company, Hyzon Motors, Jaguar Land Rover Automotive, Kenworth Trucks, Nikola Corporation, and Paccar

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

The global hydrogen trucks market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global hydrogen trucks market

Detailed Segmentation:

By Product Type
- Fuel Cell Electric Trucks
- Hydrogen Internal Combustion Engine Trucks
By Tonnage
- Light-Duty Hydrogen Trucks (< 7.5 tons)
- Medium-Duty Hydrogen Trucks (7.5 - 16 tons)
- Heavy-Duty Hydrogen Trucks (16 tons)
By Application
- Long-Haul Transportation
- Last-Mile Delivery
- Refuse Collection
- Others (Mining, Construction, etc.)
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Players Insights
- Anglo American Platinum Ltd.
- Ares Motor Works
- Beiqi Foton Motor
- Cellcentric GmbH & Co. KG
- Cummins Inc.
- Dongfeng Motor Corporation
- Esoro AG
- Grove Hydrogen Automotive
- H2X Global
- Hyundai Motor Company
- Hyzon Motors
- Jaguar Land Rover Automotive
- Kenworth Trucks
- Nikola Corporation
- Paccar

Product Code: CMI7234

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Tonnage
- Market Snippet, By Application
- Market Snippet, By Region

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of COVID-19 Pandemic

4. Global Hydrogen Trucks Market, By Product Type, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Fuel Cell Electric Trucks
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Hydrogen Internal Combustion Engine Trucks
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

5. Global Hydrogen Trucks Market, By Tonnage, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Light-Duty Hydrogen Trucks (< 7.5 tons)
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Medium-Duty Hydrogen Trucks (7.5 - 16 tons)
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Heavy-Duty Hydrogen Trucks (> 16 tons)
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

6. Global Hydrogen Trucks Market, By Application, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Long-Haul Transportation
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Last-Mile Delivery
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Refuse Collection
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Others (Mining, Construction, etc.)
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

7. Global Hydrogen Trucks Market, By Region, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
North America
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Tonnage, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - U.S.
  - Canada
Europe
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Tonnage, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Tonnage, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Latin America
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Tonnage, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Middle East & Africa
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Tonnage, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - South Africa
  - Israel
  - GCC Countries
  - Rest of the Middle East &Africa

8. Competitive Landscape

Company Profiles
- Anglo American Platinum Ltd.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Ares Motor Works
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Beiqi Foton Motor
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Cellcentric GmbH & Co. KG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Cummins Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Dongfeng Motor Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Esoro AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Grove Hydrogen Automotive
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- H2X Global
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Hyundai Motor Company
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Hyzon Motors
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Jaguar Land Rover Automotive
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Kenworth Trucks
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Nikola Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Paccar
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Research Methodology

References
Research Methodology
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