Driving Towards Decarbonization: The Rise of Hydrogen-powered Trucks
Key Ideas
- The market for heavy duty trucks powered by hydrogen internal combustion engines (H2-ICE) is projected to reach 41,081 units by 2034 with a 44.5% compound annual growth rate (CAGR).
- Advocates for hydrogen as a decarbonization solution highlight the value of reduced emissions and zero emissions, impacting stakeholders in the commercial vehicle value chain positively.
- The report emphasizes that making smaller reductions in greenhouse gas emissions in the short term through H2-ICE technology can pave the way for more significant reductions in the future.
- Guidehouse Insights' report, focusing on hydrogen internal combustion engines in the medium and heavy duty truck market, provides valuable insights for the transportation and mobility sector.
A new report from Guidehouse Insights delves into the market and revenues for medium duty and heavy duty trucks powered by hydrogen internal combustion engines (H2-ICE). While there has been significant focus on battery electric vehicles (BEVs) for decarbonization, hydrogen is also emerging as a viable solution. The report projects that the global market for heavy duty trucks powered by H2-ICE drivelines will experience substantial growth, reaching 41,081 units by 2034 with a 44.5% CAGR. The relative value of reduced emissions and zero emissions is highlighted, stressing the importance of hydrogen technology in decarbonizing the transportation industry. Despite the emissions debate, the report suggests that even smaller reductions in greenhouse gas emissions can lead to more significant changes in the long run. By looking at the forecast period 2025-2034, the report provides valuable insights into the market for hydrogen-ICE (H2-ICE) medium and heavy duty trucks. Guidehouse Insights' research methodology combines industry analysis and technology trends to offer a comprehensive view of emerging resilient infrastructure systems.