UK's £2.4 Billion Opportunity: Revolutionizing Heavy-Duty Vehicle Supply Chains for a Sustainable Future
Key Ideas
- UK aims to decarbonize heavy-duty vehicles by discontinuing non-zero emission HGV sales by 2035 and all new HGVs by 2040.
- Potential revenue in the HDV sector is estimated at £2.4 billion, with significant export opportunities in battery and fuel cell technology systems.
- Focus on innovations in battery packs, electric drive units, fuel cell systems, and hydrogen storage tanks to drive the electrified vehicle supply chain.
- Strategic investments in high-value components and technological advancements will boost the UK's economy and position it as a leader in zero-emission HDVs.
The UK is eyeing a substantial £2.4 billion opportunity in revolutionizing its heavy-duty vehicle (HDV) supply chains towards sustainability. With regulations in place to phase out non-zero emission HGV sales by 2035 and all new HGVs by 2040, the country aims to tackle the 21% of transportation greenhouse gas emissions contributed by HDVs. The Advanced Propulsion Centre (APC) report highlights a revenue potential of £2.4 billion in the HDV sector, emphasizing nearly £1 billion in export opportunities, particularly in battery electric and fuel cell technology systems. Key components such as battery packs, electric drive units, fuel cell systems, and hydrogen storage tanks are crucial for achieving zero-emission HDVs.
The report also emphasizes the export potential in electric drive units, e-axles, fuel cell systems, and catalyst coated membranes (CCMs), with projected opportunities reaching £970 million by 2035. Innovation in solid-state and sodium-ion batteries presents significant opportunities, while advancements in electric drive units and fuel cell technology aim to meet the unique requirements of HDVs. The UK's strategic investments in high-value components and technological advancements not only drive innovation and create jobs but also establish the country as a leader in the electrified vehicle supply chain, paving the way for a sustainable and economically vibrant future.
Topics
Fuel Cells
Strategic Investments
Regulations
Decarbonisation
Export Potential
Technological Innovation
Market Opportunities
Industry Implications
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