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Market Research Report
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1022584

Global Market for Hydrogen Fuel Cell Commercial Trucks, 2021

Published: | Information Trends, LLC | 150 Pages | Delivery time: 1-2 business days

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Global Market for Hydrogen Fuel Cell Commercial Trucks, 2021
Published: September 1, 2021
Information Trends, LLC
Content info: 150 Pages
Delivery time: 1-2 business days
  • Description
  • Table of Contents

Executive Summary

Well over 800 thousand hydrogen fuel cell trucks and goods-carrying commercial vehicles will be sold by 2035. These include both heavy-duty trucks as well as light-duty and medium-duty trucks. Because of their unique characteristics, fuel cell heavy-duty trucks are already outcompeting similar battery-electric models, particularly for long-haul routes.

There is a particular industry interest in transitioning heavy-duty diesel trucks to zero-emission because diesel trucks are the biggest contributors to carbon emissions on roadways.

Until the second half of 2020s, battery-electric trucks will remain competitive with fuel cell medium-duty trucks. Battery-electric trucks will become less competitive as more hydrogen stations are built and as the prices of fuel cell medium-duty trucks fall.

Smaller battery-electric trucks will have an edge over hydrogen fuel cell trucks until early thirties. Smaller battery-electric trucks will lose that edge as light-duty fuel cell trucks hit lower price points and as hydrogen stations become more pervasive.

The biggest impediment to the adoption of hydrogen fuel cell trucks so far has been the cost of these vehicles. However, several factors have converged to bring the prices of these trucks down.

Hydrogen fuel cell trucks have several advantages over battery-electric trucks, including the following:

  • 1. These vehicles are lighter than battery-electric vehicles, making them better suited to carry heavy cargo.
  • 2. These trucks travel longer distances than battery-electric vehicles, making them better equipped for long-haul transportation.
  • 3. Hydrogen fuel cell trucks are capable of rapid fueling similar to diesel trucks, unlike time consuming charging of battery-electric trucks.
  • 4. The routes of heavy-duty and medium-duty trucks are mostly predictable which lowers the barriers to building a hydrogen fueling infrastructure.

In the long-run, hydrogen fuel cell vehicles will dominate the market for trucks and commercial vehicles.

Scope of Report

This is one of the most comprehensive and timely studies on hydrogen fuel cell trucks. It discusses hydrogen fuel cell truck-maker strategies and provides their in-depth profiles. The study discuses factors differentiating hydrogen fuel cell trucks from trucks running on other power sources, and their market impact.

The focus of this study is the commercial hydrogen fuel cell trucks. The study provides an indepth analysis of this emerging market. The study segments the market into light-duty and medium-duty trucks, and heavy-duty trucks, providing sales and revenue forecasts for major world regions through 2035 for both segments. The study does not cover buses and passenger vehicles.

Classification of Trucks

In this study, commercial trucks are classified in the following two categories:

  • Light-duty trucks and medium-duty trucks
  • Heavy-duty trucks

Information Trends would also like to note that the term "new energy vehicles," as used in this study, encompasses three types of vehicles: hydrogen fuel cell vehicles, battery-electric vehicles, and gasoline-electric plug-in hybrid vehicles.

Unless otherwise stated, the term sales, as used in this study, also covers leases.

Light-Duty Trucks

Light-duty trucks are generally car-sized and may include pick-up trucks, panel trucks, and postal vehicles. Light-duty trucks weigh under 10,000 lb. Under U.S. Federal Highway Administration classification, they are Class 1 and Class 2 trucks.

Medium-Duty Trucks

Medium-duty trucks are generally used for local deliveries and public services, and may include flatbed trucks, box trucks, dump trucks, tow-trucks, and firetrucks. Medium-duty trucks weigh between 10,001 lb and 26,000 lb. Under U.S. Federal Highway Administration classification, they are Class 3 to Class 6 trucks.

Heavy-Duty Trucks

Heavy-duty trucks are generally used for long-haul transportation of goods, and may include city transit vehicles, mobile cranes, cement mixers, garbage trucks, tractor trailers, and semi-trailers. Heavy-duty trucks weigh 26,001 and above. Under U.S. Federal Highway Administration classification, they are Class 7 and Class 8 trucks.

Table of Contents

1. Summary & Scope

  • 1.1. Executive Summary
  • 1.2. Scope of Report
  • 1.3. Classification of Trucks
  • 1.4. Abbreviations

2. Industry Trends & Developments

  • 2.1. Introduction
  • 2.2. Hydrogen as an Energy Carrier
  • 2.3. Attributes of Hydrogen Trucks
  • 2.4. Demand Drivers & Inhibitors
  • 2.2. Industry Initiatives
  • 2.3. Technology Trends

3. Competitive Landscape

  • 3.1. Market Evolution
  • 3.2. Fuel Cell Trucks Applications
  • 3.3 FCT Market Players

4.0. Vendor Profiles

  • 4.1. Anglo American Platinum Ltd.
  • 4.2. Ares Motor Works
  • 4.3. Beiqi Foton Motor
  • 4.4. cellcentric GmbH & Co. KG
  • 4.5. Dongfeng Motor Corporation
  • 4.6. Esoro AG
  • 4.7. Great Wall Motor Company Ltd.
  • 4.8. Grove Hydrogen Automotive
  • 4.9. H2X Global
  • 4.10. Hyundai Motor Company
  • 4.11. Hyzon Motors
  • 4.12. Jaguar Land Rover Automotive
  • 4.13. Kenworth Trucks
  • 4.14. Nikola Corporation
  • 4.15. Renault
  • 4.16. Stellantis N.V.
  • 4.17. Toyota
  • 4.18. TransPower
  • 4.19. UPS
  • 4.20. US Hybrid Inc.
  • 4.21. Volkswagen/Scania
  • 4.22. Others

5. Trials/Projects

  • 5.1. Honda-Isuzu Joint Research Project
  • 5.2. Iveco, FPT and VDL ETS Project
  • 5.3. H2-Share
  • 5.4. AZETEC Project
  • 5.5. REVIVE Project
  • 5.6. H2Accelerate
  • 5.7 United Fuel Cell System R&D (Beijing) Co., Ltd.

6. Deployment Activity

  • 6.1. Introduction
  • 6.2. APAC Region
  • 6.3. EMEA Region
  • 6.4. The Americas

7. Forecast

  • 7.1. Unit Sales/Leases Forecast
  • 7.2. Revenue Forecast

8. Conclusions and Findings

  • 8.1 The Business Case
  • 8.2. The Timeline
  • 8.3. The Impact
  • 8.4. The Opportunity
  • 8.5. The Competition

Tables

  • Table 1: Global FCT Annual Unit Sales by Region, 2020-2027
  • Table 2 Global FCT Annual Unit Sales by Region, 2028-2035
  • Table 3: Global Fuel Cell LDT & MDT Annual Sales by Major Region, 2020-2027
  • Table 4: Global Fuel Cell LDT & MDT Annual Sales by Major Region, 2028-2035
  • Table 5: APAC Fuel Cell LDT & MDT Annual Sales by Region, 2020-2027
  • Table 6: APAC Fuel Cell LDT & MDT Annual Sales by Region, 2028-2035
  • Table 7: EMEA Fuel Cell LDT & MDT Annual Sales by Region, 2020-2027
  • Table 8: EMEA Fuel Cell LDT & MDT Annual Sales by Region, 2028-2035
  • Table 9: Americas Fuel Cell LDT & MDT Annual Sales by Region, 2020-2027
  • Table 10: Americas Fuel Cell LDT & MDT Annual Sales by Region, 2028-2035
  • Table 11: Global Fuel Cell HDT Annual Sales by Major Region, 2020-2027
  • Table 12: Global Fuel Cell HDT Annual Sales by Major Region, 2028-2035
  • Table 13: APAC Fuel Cell HDT Annual Sales by Region, 2020-2027
  • Table 14: APAC Fuel Cell HDT Annual Sales by Region, 2028-2035
  • Table 15: EMEA Fuel Cell HDT Annual Sales by Region, 2020-2027
  • Table 16: EMEA Fuel Cell HDT Annual Sales by Region, 2028-2035
  • Table 17: Americas Fuel Cell HDT Annual Sales by Region, 2020-2027
  • Table 18: Americas Fuel Cell HDT Annual Sales by Region, 2028-2035
  • Table 19: Global FCTs Annual Revenue by Region, 2020-2027
  • Table 20: Global FCTs Annual Revenue by Region, 2028-2035
  • Table 21: Global Fuel Cell LDT & MDT Annual Revenue by Major Region, 2020-2027
  • Table 22: Global Fuel Cell LDT & MDT Annual Revenue by Major Region, 2028-2035
  • Table 23: APAC Fuel Cell LDT & MDT Annual Revenue by Region, 2020-2027
  • Table 24: APAC Fuel Cell LDT & MDT Annual Revenue by Region, 2028-2035
  • Table 25: EMEA Fuel Cell LDT & MDT Annual Revenue by Region, 2020-2027
  • Table 26: EMEA Fuel Cell LDT & MDT Annual Revenue by Region, 2028-2035
  • Table 27: Americas Fuel Cell LDT & MDT Annual Revenue by Region, 2020-2027
  • Table 28: Americas Fuel Cell LDT & MDT Annual Revenue by Region, 2028-2035
  • Table 29: Global Fuel Cell HDT Annual Revenue by Major Region, 2020-2027
  • Table 30: Global Fuel Cell HDT Annual Revenue by Major Region, 2028-2035
  • Table 31: APAC Fuel Cell HDT Annual Revenue by Region, 2020-2027
  • Table 32: APAC Fuel Cell HDT Annual Revenue by Region, 2028-2035
  • Table 33: EMEA Fuel Cell HDT Annual Revenue by Region, 2020-2027
  • Table 34: EMEA Fuel Cell HDT Annual Revenue by Region, 2028-2035
  • Table 35: Americas Fuel Cell HDT Annual Revenue by Region, 2020-2027
  • Table 36: Americas Fuel Cell HDT Annual Revenue by Region, 2028-2035

Figures

  • Figure 1: Global FCT Aggregate Sales, 2020-2035
  • Figure 2: CAGR of FCT Unit Sales Globally, 2020-2035
  • Figure 3: Global Fuel Cell LDT & MDT Aggregate Sales, 2020-2035
  • Figure 4: CAGR of Fuel Cell LDT & MDT Sales Globally, 2020-2035
  • Figure 5: APAC Fuel Cell LDT & MDT Aggregate Sales, 2020-2035
  • Figure 6: CAGR of Fuel Cell LDT & MDT Sales in APAC, 2020-2035
  • Figure 7: EMEA Fuel Cell LDT & MDTs Aggregate Sales, 2020-2035
  • Figure 8: CAGR of Fuel Cell LDT & MDT in EMEA, 2020-2035
  • Figure 9: Americas Fuel Cell LDT & MDT Aggregate Sales, 2020-2035
  • Figure 10: CAGR of Fuel Cell LDT & MDT Sales in Americas, 2020-2035
  • Figure 11: Global Fuel Cell HDT Aggregate Sales, 2020-2035
  • Figure 12: CAGR of Fuel Cell HDT Globally, 2020-2035
  • Figure 13: APAC Fuel Cell HDT Aggregate Sales, 2020-2035
  • Figure 14: CAGR of Fuel Cell HDT in APAC, 2020-2035
  • Figure 15: EMEA Fuel Cell HDT Aggregate Sales, 2020-2035
  • Figure 16: CAGR of Fuel Cell HDT in EMEA, 2020-2035
  • Figure 17: Americas Fuel Cell HDT Aggregate Sales, 2020-2035
  • Figure 18: CAGR of Fuel Cell HDT in Americas, 2020-2035
  • Figure 19: Global FCTs Aggregate Revenue, 2020-2035
  • Figure 20: CAGR of FCTs Revenue Globally, 2020-2035
  • Figure 21: Global Fuel Cell LDT & MDT Aggregate Revenue, 2020-2035
  • Figure 22: CAGR of Fuel Cell LDT & MDT Revenue Globally, 2020-2035
  • Figure 23: APAC Fuel Cell LDT & MDT Aggregate Revenue, 2020-2035
  • Figure 24: CAGR of Fuel Cell LDT & MDT Revenue in APAC, 2020-2035
  • Figure 25: EMEA Fuel Cell LDT & MDT Aggregate Revenue, 2020-2035
  • Figure 26: CAGR of Fuel Cell LDT & MDT Revenue in EMEA, 2020-2035
  • Figure 27: Americas Fuel Cell LDT & MDT Aggregate Revenue, 2020-2035
  • Figure 28: CAGR of Fuel Cell LDT & MDT Revenue in Americas, 2020-2035
  • Figure 29: Global Fuel Cell HDT Aggregate Revenue, 2020-2035
  • Figure 30: CAGR of Fuel Cell HDT Revenue Globally, 2020-2035
  • Figure 31: APAC Fuel Cell HDT Aggregate Revenue, 2020-2035
  • Figure 32: CAGR of Fuel Cell HDT Revenue in APAC, 2020-2035
  • Figure 33: EMEA Fuel Cell HDT Aggregate Revenue, 2020-2035
  • Figure 34: CAGR of Fuel Cell HDT Revenue in EMEA, 2020-2035
  • Figure 35: Americas Fuel Cell HDT Aggregate Revenue, 2020-2035
  • Figure 36: CAGR of Fuel Cell HDTs Revenue in Americas, 2020-2035