Hydrogen Trucks Market Share to surpass US$ 119.18 Billion by the end of 2033

According to FMI reports, the global hydrogen trucks market share is expected to grow by nearly US$ 3.84 Billion by 2023. This is with a substantial and impressive CAGR of 41% expected over the forecast period, which is projected to reach over US$ 119.18 Billion by the year 2033.

Each of these factors is anticipated to have a sizable impact on the market for hydrogen trucks throughout the projected period. This is due to the fact that hydrogen trucks can completely remove all carbon dioxide and other dangerous pollutants from the atmosphere, helping to preserve the environment.

The global market is impacted by a number of variables, including environmental concerns, government initiatives for hydrogen fuel cell infrastructure, a large initial investment in infrastructure, technological breakthroughs, and future possibilities.

Request a Sample of this Report:

The popularity of hydrogen trucks may rise as people become more aware of the negative impacts of traffic congestion, air pollution, and greenhouse gas emissions. This is because they are more environmentally friendly than other types of conventional vehicles.

Key Takeaways from the Hydrogen Trucks Market Study

  • North America dominates the market for hydrogen trucks.
  • The hydrogen trucks are expected to increase at a notable CAGR of 41%.
  • Asia Pacific region is expected to grow at the fastest rate with an increased revenue share.
  • Hydrogen fuel cell forklifts have become more popular as people increase awareness regarding environmental issues, government initiatives, and increasing concern about cost-effectiveness.

Competitive Landscape for the Hydrogen Trucks Market

Various producers and service providers occupy considerable shares of the global market, including Anglo American Platinum Ltd. and Ares Motor Works. The companies have been successful in acquiring new and long-term contracts from different countries over the years.

Cellcentric GmbH & Co. KG, Dongfeng Motor Corporation, Esoro AG, Beiqi Foton Motor, Cummins Inc., H2X Global, Hyundai Motor Company, Hyzon Motors, Jaguar Land Rover Automotive, Kenworth Trucks, Paccar, Nikola Corporation and others, the market is growing and establishing a strong global presence.

Didn’t find the data you are looking for? Our experts provide you customized reports! 

Recent Developments in the Hydrogen Trucks Market

  • Together, Hyzon and ORTEN’s complementary product lines, as well as ORTEN’s body and powertrain kits, offer customers a complete solution for making their fleets zero-emission. Moreover, ORTEN’s management maintains extensive and permanent contact with customers throughout Germany.
  • An investment of $2.3 million will be made in the Alberta Zero-Emissions Truck Electrification Collaboration (AZTEC) project by the Jr. Minister of natural resources, Seamus O Regan.  A consortium of project partners, including the Hydrogen Technology and Energy Corporation, Bison Transport, and Canadian Energy Systems Analysis Research, led this project.

Hydrogen Trucks Market by Category

By Product, the Hydrogen Trucks Market is Segmented as:

  • Heavy Duty trucks
  • Medium Duty Trucks
  • Small Duty Trucks

By Application, the Hydrogen Trucks Market is Segmented as:

  • Logistics
  • Municipal

Ask the Analyst:

By Range, the Hydrogen Trucks Market is Segmented as:

  • Above 400 Km
  • Below 400 Km

By Region, the Hydrogen Trucks Market is Segmented as:

  • North America
  • Latin America
  • Europe
  • The Middle East and Africa
  • East Asia

About Future Market Insights (FMI) 

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.


Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports

About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like these