Dublin, Aug. 01, 2025 (GLOBE NEWSWIRE) -- The "Hydrogen Truck Global Market Report 2025" has been added to ResearchAndMarkets.com's offering.
The hydrogen truck market is witnessing significant growth, projected to expand from $2.61 billion in 2024 to $3.44 billion in 2025, reflecting a compound annual growth rate (CAGR) of 31.8%. This rise is fueled by increasing fuel prices, government incentives, and a growing emphasis on zero-emission transportation and sustainability. By 2029, the market is expected to reach $10.29 billion, with a CAGR of 31.5%. Factors driving growth include stricter emissions regulations, enhanced hydrogen production capacities, and decreased fuel cell costs.
The shift towards clean freight transportation plays a crucial role in driving the hydrogen truck market. With transportation accounting for 28.4% of U.S. greenhouse gas emissions, and the nation emitting approximately 6.34 billion metric tons of CO2 equivalents in 2022, the need for cleaner alternatives is pressing. Hydrogen trucks, powered by fuel cells that emit only water vapor, offer an eco-friendly alternative, aligning with corporate sustainability goals.
Major companies are innovating within the hydrogen sector. BMW Group, for example, launched hydrogen-powered trucks under the European H2Haul project in February 2025. These trucks, like the IVECO S-eWay Fuel Cell models used in Germany, excel in quick refueling and extended ranges suitable for long-distance travel. Similarly, Phoenix Motor Inc.'s acquisition of Altergy Systems in August 2022 intends to boost hydrogen fuel cell development and production.
Key players in this industry span across global giants such as Toyota (GB) PLC, Hyundai Motor Company, Daimler Truck AG, AB Volvo, and more. Geographically, Asia-Pacific led the market in 2024, while North America is projected to grow rapidly during the forecast period. Countries covered in this expansion include Australia, China, Germany, Japan, the USA, and others.
Hydrogen trucks, categorized into light-duty, medium-duty, and heavy-duty, serve various sectors such as logistics and construction. Key advancements include enhanced hydrogen storage and the development of autonomous driving technologies. The industry covers hydrogen-powered semi-trucks, refrigerated trucks, and pickup trucks, with sales values measured at the factory gate level.
Research reports provide comprehensive statistics on market size, regional shares, and competitive landscape. They offer an in-depth analysis of market trends and opportunities crucial for thriving in the hydrogen truck industry. Overall, with increasing investments and technological advancements, the hydrogen truck market presents significant opportunities across industrial applications, promising a sustainable and zero-emission future in freight transportation.
Reasons to Purchase:
- Gain a comprehensive global perspective by examining the market across 15 geographies.
- Understand key macroeconomic impacts from factors such as global conflicts, pandemics, inflation, and interest rate fluctuations.
- Formulate regional and country strategies based on localized data and analysis.
- Identify lucrative growth segments for strategic investments.
- Leverage forecast data to outperform competitors and capitalize on market drivers and trends.
- Analyze customer dynamics using the latest market shares.
- Benchmark performance against main competitors.
- Incorporate high-quality data and analysis for internal and external presentations.
- The report will be continually updated with the latest data, available alongside an Excel data sheet for ease of analysis.
Scope
Markets Covered:
- By Type: Light-Duty Trucks; Medium-Duty Trucks; Heavy-Duty Trucks
- By Range: Short-Range; Medium-Range; Long-Range
- By Hydrogen Tank Size: 50 Kg
- By Motor Power: Up to 200 kW; 200-400 kW; Above 400 kW
- By Application: Logistics; Industrial; Construction; Mining; Others
Subsegments:
- Light-Duty Trucks: Pickup Trucks; Small Delivery Trucks; Utility Trucks
- Medium-Duty Trucks: Box Trucks; Refrigerated Trucks; Flatbed Trucks
- Heavy-Duty Trucks: Long-Haul Trucks; Dump Trucks; Tow Trucks
Key Companies Profiled: Toyota (GB) PLC; Hyundai Motor Company; Daimler Truck AG; AB Volvo; PACCAR Inc
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Companies Featured
- Toyota (GB) PLC
- Hyundai Motor Company
- Daimler Truck AG
- AB Volvo
- PACCAR Inc
- Cummins Inc
- Great Wall Motor Company Ltd
- Dongfeng Motor Company
- XCMG Group
- SANY Group
- Beiqi Foton Motor
- Renault Trucks Corporate
- Xiamen King Long International Trading Co Ltd
- Ballard Power Systems
- Nikola Corporation
- Symbio one
- Tevva Motors
- H2X Global Limited
- Esoro AG
- Hyzon Motors Inc
For more information about this report visit https://www.researchandmarkets.com/r/hfpeys
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