Driving Toward a Greener Future: Hydrogen-Powered Heavy Duty Trucks on the Rise
Key Ideas
- The global market for heavy duty trucks powered by hydrogen internal combustion engines (H2-ICE) is projected to grow significantly, reaching 41,081 units by 2034.
- Hydrogen as a decarbonization solution for medium and heavy duty trucks is gaining traction alongside battery electric vehicles (BEVs), offering a promising alternative to diesel engines.
- The report highlights the value of incremental emissions reductions through H2-ICE technology, emphasizing that taking smaller steps now can pave the way for greater reductions in the future.
- Stakeholders in the commercial vehicle value chain, including shippers, regulators, and investors, are encouraged to consider the environmental benefits and market potential of hydrogen-powered trucks.
A new report from Guidehouse Insights delves into the growing market for medium duty and heavy duty trucks powered by hydrogen internal combustion engines (H2-ICE). As the push to decarbonize the trucking industry intensifies, alternative driveline options like H2-ICE are gaining attention alongside battery electric vehicles. The report forecasts a substantial growth in the global market for heavy duty trucks utilizing H2-ICE technology, with a projected 44.5% compound annual growth rate (CAGR) leading to 41,081 units by 2034. This market segment includes various truck types such as over-the-road, distribution and collection, harsh duty, and vocational trucks. The report emphasizes the significance of hydrogen as an emissions reduction pathway, not only through fuel cell vehicles but also via adapted ICE engines for medium and heavy duty trucks. By highlighting the value of incremental emissions reductions and the potential for small actions to drive larger impacts in the future, the report encourages stakeholders to consider the environmental and economic benefits of H2-ICE technology. Overall, the report provides insights into the evolving landscape of hydrogen-powered trucks and their role in advancing sustainability in the transportation sector.