The study, Global Market for Hydrogen Fuel Cell Commercial Trucks, provides an in-depth analysis of this emerging market. The study segments the market into light- and medium-duty trucks and heavy-duty trucks, providing sales and revenue forecasts for major world regions through 2035 for both segments.
This is one of the most comprehensive and timely studies on hydrogen fuel cell trucks. It discusses hydrogen fuel cell truck-maker strategies and provides their in-depth profiles. The study discusses factors differentiating hydrogen fuel cell trucks with trucks running on other power sources, and their market impact.
Well over 800 thousand hydrogen fuel cell trucks and goods-carrying commercial vehicles will be sold by 2035. These include both heavy-duty trucks as well as light-duty and medium-duty trucks. Because of their unique characteristics, fuel cell heavy-duty trucks are already outcompeting similar battery-electric models, particularly for long-haul routes.
There is a particular industry interest in transitioning heavy-duty diesel trucks to zero-emission because diesel trucks are the biggest contributors to carbon emissions on roadways. Until the second half of the 2020s, battery-electric trucks will remain competitive with fuel cell medium-duty trucks. Battery-electric trucks will become less competitive as more hydrogen stations are built and as the prices of fuel cell, medium-duty trucks fall.
Smaller battery-electric trucks will have an edge over hydrogen fuel cell trucks until early thirties. Smaller battery-electric trucks will lose that edge as light-duty fuel cell trucks hit lower price points and as hydrogen stations become more pervasive.
The biggest impediment to the adoption of hydrogen fuel cell trucks so far has been the cost of these vehicles. However, several factors have converged to bring the prices of these trucks down.
Hydrogen fuel cell trucks have several advantages over battery-electric trucks, including the following:
1. These vehicles are lighter than battery-electric vehicles, making them better suited to carry heavy cargo.
2. These trucks travel longer distances than battery-electric vehicles, making them better equipped for long-haul transportation.
3. Hydrogen fuel cell trucks are capable of rapid fueling similar to diesel trucks, unlike the time-consuming charging of battery-electric trucks.
4. The routes of heavy-duty and medium-duty trucks are mostly predictable which lowers the barriers to building a hydrogen fueling infrastructure.
In the long run, hydrogen fuel cell vehicles will dominate the market for trucks and commercial vehicles.
Scope of Report
This is one of the most comprehensive and timely studies on hydrogen fuel cell trucks. It discusses hydrogen fuel cell truck-maker strategies and provides their in-depth profiles. The study discusses factors differentiating hydrogen fuel cell trucks from trucks running on other power sources, and their market impact.
The focus of this study is the commercial hydrogen fuel cell trucks. The study provides an in-depth analysis of this emerging market. The study segments the market into light-duty and medium-duty trucks, and heavy-duty trucks, providing sales and revenue forecasts for major world regions through 2035 for both segments. The study does not cover buses and passenger vehicles.
Classification of Trucks
In this study, commercial trucks are classified in the following two categories:
- Light-duty trucks and medium-duty trucks Heavy-duty trucks
The publisher would also like to note that the term “new energy vehicles,” as used in this study, encompasses three types of vehicles: hydrogen fuel cell vehicles, battery-electric vehicles, and gasoline-electric plug-in hybrid vehicles.
Unless otherwise stated, the term sales, as used in this study, also covers leases.
Light-Duty Trucks
Light-duty trucks are generally car-sized and may include pick-up trucks, panel trucks, and postal vehicles. Light-duty trucks weigh under 10,000 lb. Under U.S. Federal Highway Administration classification, they are Class 1 and Class 2 trucks. PA
Medium-Duty Trucks
Medium-duty trucks are generally used for local deliveries and public services and may include flatbed trucks, box trucks, dump trucks, tow trucks, and firetrucks. Medium-duty trucks weigh between 10,001 lb and 26,000 lb. Under the U.S. Federal Highway Administration classification, they are Class 3 to Class 6 trucks.
Heavy-Duty Trucks
Heavy-duty trucks are generally used for long-haul transportation of goods and may include city transit vehicles, mobile cranes, cement mixers, garbage trucks, tractor trailers, and semi-trailers. Heavy-duty trucks weigh 26,001 and above. Under U.S. Federal Highway Administration classification, they are Class 7 and Class 8 trucks.
Table of Contents
1 Summary & Scope
1.1 Executive Summary
1.2 Scope of Report
1.3 Classification of Trucks
1.4 Abbreviations
2 Industry Trends & Developments
2.1 Introduction
2.2 Hydrogen as an Energy Carrier
2.3 Attributes of Hydrogen Trucks
2.4 Demand Drivers & Inhibitors
2.2 Industry Initiatives
2.3 Technology Trends
3 Competitive Landscape
3.1 Market Evolution
3.2 Fuel Cell Trucks Applications
3.3 FCT Market Players
4 Vendor Profiles
4.1 Anglo American Platinum Ltd.
4.2 Ares Motor Works
4.3 Beiqi Foton Motor
4.4 cellcentric GmbH & Co. KG
4.5 Dongfeng Motor Corporation
4.6 Esoro AG
4.7 Great Wall Motor Company Ltd.
4.8 Grove Hydrogen Automotive
4.9 H2X Global
4.10 Hyundai Motor Company
4.11 Hyzon Motors
4.12 Jaguar Land Rover Automotive
4.13 Kenworth Trucks
4.14 Nikola Corporation
4.15 Renault
4.16 Stellantis N.V.
4.17 Toyota
4.18 TransPower
4.19 UPS
4.20 US Hybrid Inc.
4.21 Volkswagen/Scania
4.22 Others
5 Trials/Projects
5.1 Honda-Isuzu Joint Research Project
5.2 Iveco, FPT and VDL ETS Project
5.3 H2-Share
5.4 AZETEC Project
5.5 REVIVE Project
5.6 H2Accelerate
5.7 United Fuel Cell System R&D (Beijing) Co., Ltd.
6 Deployment Activity
6.1 Introduction
6.2 APAC Region
6.3 EMEA Region
6.4 The Americas
7 Forecast
7.1 Unit Sales/Leases Forecast
7.2 Revenue Forecast
8 Conclusions and Findings
8.1 The Business Case
8.2 The Timeline
8.3 The Impact
8.4 The Opportunity
8.5 The Competition
List of Tables
Table 1: Global FCT Annual Unit Sales by Region, 2020-2027
Table 2 Global FCT Annual Unit Sales by Region, 2028-2035
Table 3: Global Fuel Cell LDT & MDT Annual Sales by Major Region, 2020-2027
Table 4: Global Fuel Cell LDT & MDT Annual Sales by Major Region, 2028-2035
Table 5: APAC Fuel Cell LDT & MDT Annual Sales by Region, 2020-2027
Table 6: APAC Fuel Cell LDT & MDT Annual Sales by Region, 2028-2035
Table 7: EMEA Fuel Cell LDT & MDT Annual Sales by Region, 2020-2027
Table 8: EMEA Fuel Cell LDT & MDT Annual Sales by Region, 2028-2035
Table 9: Americas Fuel Cell LDT & MDT Annual Sales by Region, 2020-2027
Table 10: Americas Fuel Cell LDT & MDT Annual Sales by Region, 2028-2035
Table 11: Global Fuel Cell HDT Annual Sales by Major Region, 2020-2027
Table 12: Global Fuel Cell HDT Annual Sales by Major Region, 2028-2035
Table 13: APAC Fuel Cell HDT Annual Sales by Region, 2020-2027
Table 14: APAC Fuel Cell HDT Annual Sales by Region, 2028-2035
Table 15: EMEA Fuel Cell HDT Annual Sales by Region, 2020-2027
Table 16: EMEA Fuel Cell HDT Annual Sales by Region, 2028-2035
Table 17: Americas Fuel Cell HDT Annual Sales by Region, 2020-2027
Table 18: Americas Fuel Cell HDT Annual Sales by Region, 2028-2035
Table 19: Global FCTs Annual Revenue by Region, 2020-2027
Table 20: Global FCTs Annual Revenue by Region, 2028-2035
Table 21: Global Fuel Cell LDT & MDT Annual Revenue by Major Region, 2020-2027
Table 22: Global Fuel Cell LDT & MDT Annual Revenue by Major Region, 2028-2035
Table 23: APAC Fuel Cell LDT & MDT Annual Revenue by Region, 2020-2027
Table 24: APAC Fuel Cell LDT & MDT Annual Revenue by Region, 2028-2035
Table 25: EMEA Fuel Cell LDT & MDT Annual Revenue by Region, 2020-2027
Table 26: EMEA Fuel Cell LDT & MDT Annual Revenue by Region, 2028-2035
Table 27: Americas Fuel Cell LDT & MDT Annual Revenue by Region, 2020-2027
Table 28: Americas Fuel Cell LDT & MDT Annual Revenue by Region, 2028-2035
Table 29: Global Fuel Cell HDT Annual Revenue by Major Region, 2020-2027
Table 30: Global Fuel Cell HDT Annual Revenue by Major Region, 2028-2035
Table 31: APAC Fuel Cell HDT Annual Revenue by Region, 2020-2027
Table 32: APAC Fuel Cell HDT Annual Revenue by Region, 2028-2035
Table 33: EMEA Fuel Cell HDT Annual Revenue by Region, 2020-2027
Table 34: EMEA Fuel Cell HDT Annual Revenue by Region, 2028-2035
Table 35: Americas Fuel Cell HDT Annual Revenue by Region, 2020-2027
Table 36: Americas Fuel Cell HDT Annual Revenue by Region, 2028-2035
List of Figures
Figure 1: Global FCT Aggregate Sales, 2020-2035
Figure 2: CAGR of FCT Unit Sales Globally, 2020-2035
Figure 3: Global Fuel Cell LDT & MDT Aggregate Sales, 2020-2035
Figure 4: CAGR of Fuel Cell LDT & MDT Sales Globally, 2020-2035
Figure 5: APAC Fuel Cell LDT & MDT Aggregate Sales, 2020-2035
Figure 6: CAGR of Fuel Cell LDT & MDT Sales in APAC, 2020-2035
Figure 7: EMEA Fuel Cell LDT & MDTs Aggregate Sales, 2020-2035
Figure 8: CAGR of Fuel Cell LDT & MDT in EMEA, 2020-2035
Figure 9: Americas Fuel Cell LDT & MDT Aggregate Sales, 2020-2035
Figure 10: CAGR of Fuel Cell LDT & MDT Sales in Americas, 2020-2035
Figure 11: Global Fuel Cell HDT Aggregate Sales, 2020-2035
Figure 12: CAGR of Fuel Cell HDT Globally, 2020-2035
Figure 13: APAC Fuel Cell HDT Aggregate Sales, 2020-2035
Figure 14: CAGR of Fuel Cell HDT in APAC, 2020-2035
Figure 15: EMEA Fuel Cell HDT Aggregate Sales, 2020-2035
Figure 16: CAGR of Fuel Cell HDT in EMEA, 2020-2035
Figure 17: Americas Fuel Cell HDT Aggregate Sales, 2020-2035
Figure 18: CAGR of Fuel Cell HDT in Americas, 2020-2035
Figure 19: Global FCTs Aggregate Revenue, 2020-2035
Figure 20: CAGR of FCTs Revenue Globally, 2020-2035
Figure 21: Global Fuel Cell LDT & MDT Aggregate Revenue, 2020-2035
Figure 22: CAGR of Fuel Cell LDT & MDT Revenue Globally, 2020-2035
Figure 23: APAC Fuel Cell LDT & MDT Aggregate Revenue, 2020-2035
Figure 24: CAGR of Fuel Cell LDT & MDT Revenue in APAC, 2020-2035
Figure 25: EMEA Fuel Cell LDT & MDT Aggregate Revenue, 2020-2035
Figure 26: CAGR of Fuel Cell LDT & MDT Revenue in EMEA, 2020-2035
Figure 27: Americas Fuel Cell LDT & MDT Aggregate Revenue, 2020-2035
Figure 28: CAGR of Fuel Cell LDT & MDT Revenue in Americas, 2020-2035
Figure 29: Global Fuel Cell HDT Aggregate Revenue, 2020-2035
Figure 30: CAGR of Fuel Cell HDT Revenue Globally, 2020-2035
Figure 31: APAC Fuel Cell HDT Aggregate Revenue, 2020-2035
Figure 32: CAGR of Fuel Cell HDT Revenue in APAC, 2020-2035
Figure 33: EMEA Fuel Cell HDT Aggregate Revenue, 2020-2035
Figure 34: CAGR of Fuel Cell HDT Revenue in EMEA, 2020-2035
Figure 35: Americas Fuel Cell HDT Aggregate Revenue, 2020-2035
Figure 36: CAGR of Fuel Cell HDTs Revenue in Americas, 2020-2035
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Anglo American Platinum Ltd.
- Ares Motor Works
- Beiqi Foton Motor
- cellcentric GmbH & Co. KG
- Dongfeng Motor Corporation
- Esoro AG
- Great Wall Motor Company Ltd.
- Grove Hydrogen Automotive
- H2X Global
- Hyundai Motor Company
- Hyzon Motors
- Jaguar Land Rover Automotive
- Kenworth Trucks
- Nikola Corporation
- Renault
- Stellantis N.V.
- Toyota
- TransPower
- UPS
- US Hybrid Inc.
- Volkswagen/Scania
Methodology
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