Rapid Growth Forecasted for Hydrogen Internal Combustion Engine Trucks in North America and Europe
Key Ideas
- H2ICE truck sales projected to increase significantly by over 61 times from 2025 to 2034, with North America contributing over half of the sales.
- H2ICE vehicles in the heavy-duty segment are favored due to applications, range, and refueling accessibility, potentially benefiting from recent EV investment cutbacks.
- Hydrogen-run ICE trucks offer minimal modifications, good customer value, and can utilize existing fuel stations without infrastructure upgrades.
- While initial adoption challenges exist due to hydrogen cost and refueling stations, long-term competitiveness may decrease against zero-emission vehicles as EV component prices fall.
A recent report on the 'Hydrogen Internal Combustion Engine Truck Market' predicts a remarkable growth in H2ICE sales from 2025 to 2034, with an expected reach of 23,640 units across North America and Europe. The heavy-duty segment is anticipated to account for over 96% of sales, benefiting from factors like applications, range, and refueling accessibility. The report suggests that cutbacks in EV investments could steer consumer interest towards alternative ICE vehicles, such as H2ICE, due to their lower price premiums. H2ICE trucks are noted for requiring minimal modifications and offering good customer value while being able to refuel at existing stations without infrastructure upgrades.
Despite their potential, H2ICE trucks face challenges related to the availability of hydrogen for refueling. As a result, these vehicles are deemed more suitable for regional, long-haul, and heavy-duty applications than for urban use. The cost of hydrogen and the accessibility of refueling stations are identified as crucial factors affecting the short-term adoption of H2ICE technology. However, in the long run, the competitiveness of H2ICE may diminish compared to zero-emission vehicles like BEVs and FCEVs, as prices of EV components drop and electricity becomes cheaper.
Key topics addressed in the report include the differences between conventional ICE and Hydrogen ICE trucks, applications of H2ICE in medium and heavy-duty trucks, drivers and challenges to H2ICE adoption, sales forecasts, and Total Cost of Ownership (TCO) comparisons. The report also explores growth opportunities in the hydrogen ecosystem, alternative low-emission technologies, and opportunities through ICE development. The analysis emphasizes the transformation in the H2ICE truck market and the growing difficulty in maintaining its growth, proposing strategic imperatives to address these challenges.
In conclusion, the report provides insights into the evolving landscape of H2ICE trucks in North America and Europe, highlighting both the potential for rapid growth in sales and the obstacles that may impact their long-term competitiveness in the transportation industry.
Topics
South America
Sustainability
Investment
Transportation
Alternative Fuels
Market Analysis
Vehicle Technology
Forecasting
Industry Report
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