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Global Hydrogen Truck Market Size Study, by Vehicle Type, Fuel Cell Technology, Motor Power (Upto 200 kW, Above 400 kW), Range (Upto 300 miles, 300-500 miles, Above 500 miles), Tank Size, Type of Hydrogen Tank, and Regional Forecasts 2024-2034

Publisher Factview Research
Published Jun 27, 2025
Length 285 Pages
SKU # FAVR20179425

Description

The Global Hydrogen Truck Market, valued at approximately USD 1.71 billion in 2024, is projected to grow at a remarkable CAGR of 17.3% during the forecast period from 2024 to 2034. Hydrogen-powered trucks are redefining the future of sustainable transportation by offering a zero-emission alternative to traditional diesel and gasoline engines. Leveraging the immense potential of fuel cell technology, these vehicles provide extended range and quick refueling capabilities, aligning perfectly with the evolving dynamics of global freight and logistics operations.

The market is primarily driven by growing concerns over environmental sustainability and a collective global push toward the adoption of clean energy solutions. Governments worldwide are introducing stringent emission norms and incentivizing green technologies, which has significantly bolstered investments in hydrogen infrastructure. Technological advancements in hydrogen storage systems and fuel cell efficiency further underpin the promising growth trajectory of the market. However, the high initial costs associated with hydrogen trucks and the development of refueling infrastructure pose challenges that must be addressed to unlock their full potential.

The increasing emphasis on long-haul transportation solutions has spurred innovations in hydrogen truck designs. Manufacturers are focusing on optimizing motor power and tank sizes to cater to diverse range requirements, from short urban deliveries to extended cross-country hauls. Additionally, the integration of advanced materials in hydrogen tanks and fuel cell systems enhances safety, durability, and overall vehicle performance, which are critical factors in market competitiveness.

Geographically, North America emerged as a leading market in 2024, propelled by robust investment in hydrogen technologies and supportive regulatory frameworks. The Asia-Pacific region is forecasted to witness the fastest growth, driven by the rising adoption of hydrogen fuel technologies in countries like China, Japan, and South Korea. Europe remains a pivotal player in the market, underpinned by ambitious green energy targets and substantial government funding for hydrogen infrastructure development.

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Major market players included in this report are:
  • Nikola Corporation
  • Hyundai Motor Company
  • Toyota Motor Corporation
  • Ballard Power Systems Inc.
  • Daimler Truck AG
  • Volvo Group
  • Iveco Group N.V.
  • Cummins Inc.
  • Hyundai Mobis Co., Ltd.
  • Bosch Limited
  • Plug Power Inc.
  • CNH Industrial N.V.
  • Tata Motors Limited
  • Proterra Inc.
  • General Motors Company
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The detailed segments and sub-segments of the market are explained below:

By Vehicle Type:
  • Light-Duty Trucks
  • Medium-Duty Trucks
  • Heavy-Duty Trucks
By Fuel Cell Technology:
  • Proton Exchange Membrane Fuel Cells (PEMFC)
  • Solid Oxide Fuel Cells (SOFC)
By Motor Power:
  • Up to 200 kW
  • Above 400 kW
By Range:
  • Up to 300 Miles
  • 300-500 Miles
  • Above 500 Miles
By Tank Size:
  • Small
  • Medium
  • Large
By Type of Hydrogen Tank:
  • Type I
  • Type II
  • Type III
  • Type IV
By Region:

North America:
  • U.S.
  • Canada
Europe:
  • UK
  • Germany
  • France
  • Spain
  • Italy
  • Rest of Europe
Asia Pacific:
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of Asia Pacific
Latin America:
  • Brazil
  • Mexico
Middle East & Africa:
  • Saudi Arabia
  • South Africa
  • Rest of Middle East & Africa
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Years considered for the study are as follows:
  • Historical Year: 2022
  • Base Year: 2024
  • Forecast Period: 2024-2034
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Key Takeaways:
  • Comprehensive market estimates and forecasts spanning 10 years from 2022 to 2032.
  • In-depth regional and country-level analysis for actionable market intelligence.
  • Strategic profiling of key market players, including technological innovations and market strategies.
  • Insights into emerging market trends, opportunities, and challenges shaping the hydrogen truck industry.
  • Detailed segmentation analysis to capture nuanced market dynamics and performance.

Table of Contents

285 Pages
Chapter 1. Global Hydrogen Truck Market Executive Summary
1.1. Global Hydrogen Truck Market Size & Forecast (2024-2034)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Vehicle Type
1.3.2. By Fuel Cell Technology
1.3.3. By Motor Power
1.4. Key Trends
1.5. Recession Impact
1.6. Investment Analysis
1.7. Investment Rationale
1.8. Analyst Recommendation & Conclusion
Chapter 2. Global Hydrogen Truck Market Definition and Research Assumptions
2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
2.3.1. Inclusion & Exclusion
2.3.2. Limitations
2.3.3. Supply Side Analysis
2.3.3.1. Availability
2.3.3.2. Infrastructure
2.3.3.3. Regulatory Environment
2.3.3.4. Market Competition
2.3.3.5. Economic Viability (Consumer’s Perspective)
2.3.4. Demand Side Analysis
2.3.4.1. Regulatory Frameworks
2.3.4.2. Technological Advancements
2.3.4.3. Environmental Considerations
2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates
Chapter 3. Global Hydrogen Truck Market Dynamics
3.1. Market Drivers
3.1.1. Growing Environmental Concerns and Push for Clean Energy Solutions
3.1.2. Government Initiatives and Incentives for Hydrogen Infrastructure
3.1.3. Technological Advancements in Fuel Cells and Hydrogen Storage
3.2. Market Challenges
3.2.1. High Initial Costs of Hydrogen Trucks
3.2.2. Limited Hydrogen Refueling Infrastructure
3.3. Market Opportunities
3.3.1. Increasing Demand for Long-Haul Transportation Solutions
3.3.2. Innovations in Hydrogen Tank Materials and Safety Features
3.3.3. Expansion into Emerging Markets with Government Support
Chapter 4. Global Hydrogen Truck Market Industry Analysis
4.1. Porter's Five Forces Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's Five Forces Model
4.1.7. Porter's Five Forces Impact Analysis
4.2. PESTEL Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.2.5. Environmental
4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Hydrogen Truck Market Size & Forecasts by Vehicle Type 2024-2034
5.1. Segment Dashboard
5.2. Global Hydrogen Truck Market: Vehicle Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
5.2.1. Light-Duty Trucks
5.2.2. Medium-Duty Trucks
5.2.3. Heavy-Duty Trucks
Chapter 6. Global Hydrogen Truck Market Size & Forecasts by Fuel Cell Technology 2024-2034
6.1. Segment Dashboard
6.2. Global Hydrogen Truck Market: Fuel Cell Technology Revenue Trend Analysis, 2022 & 2032 (USD Billion)
6.2.1. Proton Exchange Membrane Fuel Cells (PEMFC)
6.2.2. Solid Oxide Fuel Cells (SOFC)
Chapter 7. Global Hydrogen Truck Market Size & Forecasts by Motor Power 2024-2034
7.1. Segment Dashboard
7.2. Global Hydrogen Truck Market: Motor Power Revenue Trend Analysis, 2022 & 2032 (USD Billion)
7.2.1. Up to 200 kW
7.2.2. Above 400 kW
Chapter 8. Global Hydrogen Truck Market Size & Forecasts by Range 2024-2034
8.1. Segment Dashboard
8.2. Global Hydrogen Truck Market: Range Revenue Trend Analysis, 2022 & 2032 (USD Billion)
8.2.1. Up to 300 Miles
8.2.2. 300-500 Miles
8.2.3. Above 500 Miles
Chapter 9. Global Hydrogen Truck Market Size & Forecasts by Tank Size 2024-2034
9.1. Segment Dashboard
9.2. Global Hydrogen Truck Market: Tank Size Revenue Trend Analysis, 2022 & 2032 (USD Billion)
9.2.1. Small
9.2.2. Medium
9.2.3. Large
Chapter 10. Global Hydrogen Truck Market Size & Forecasts by Type of Hydrogen Tank 2024-2034
10.1. Segment Dashboard
10.2. Global Hydrogen Truck Market: Type of Hydrogen Tank Revenue Trend Analysis, 2022 & 2032 (USD Billion)
10.2.1. Type I
10.2.2. Type II
10.2.3. Type III
10.2.4. Type IV
Chapter 11. Global Hydrogen Truck Market Size & Forecasts by Region 2024-2034
11.1. North America Hydrogen Truck Market
11.1.1. U.S. Hydrogen Truck Market
11.1.1.1. Vehicle Type Breakdown Size & Forecasts, 2024-2034
11.1.1.2. Fuel Cell Technology Breakdown Size & Forecasts, 2024-2034
11.1.1.3. Motor Power Breakdown Size & Forecasts, 2024-2034
11.1.2. Canada Hydrogen Truck Market
11.2. Europe Hydrogen Truck Market
11.2.1. UK Hydrogen Truck Market
11.2.2. Germany Hydrogen Truck Market
11.2.3. France Hydrogen Truck Market
11.2.4. Spain Hydrogen Truck Market
11.2.5. Italy Hydrogen Truck Market
11.2.6. Rest of Europe Hydrogen Truck Market
11.3. Asia-Pacific Hydrogen Truck Market
11.3.1. China Hydrogen Truck Market
11.3.2. India Hydrogen Truck Market
11.3.3. Japan Hydrogen Truck Market
11.3.4. Australia Hydrogen Truck Market
11.3.5. South Korea Hydrogen Truck Market
11.3.6. Rest of Asia Pacific Hydrogen Truck Market
11.4. Latin America Hydrogen Truck Market
11.4.1. Brazil Hydrogen Truck Market
11.4.2. Mexico Hydrogen Truck Market
11.4.3. Rest of Latin America Hydrogen Truck Market
11.5. Middle East & Africa Hydrogen Truck Market
11.5.1. Saudi Arabia Hydrogen Truck Market
11.5.2. South Africa Hydrogen Truck Market
11.5.3. Rest of Middle East & Africa Hydrogen Truck Market
Chapter 12. Competitive Intelligence
12.1. Key Company SWOT Analysis
12.1.1. Nikola Corporation
12.1.2. Hyundai Motor Company
12.1.3. Toyota Motor Corporation
12.2. Top Market Strategies
12.3. Company Profiles
12.3.1. Nikola Corporation
12.3.1.1. Key Information
12.3.1.2. Overview
12.3.1.3. Financial (Subject to Data Availability)
12.3.1.4. Product Summary
12.3.1.5. Market Strategies
12.3.2. Ballard Power Systems Inc.
12.3.3. Daimler Truck AG
12.3.4. Volvo Group
12.3.5. Iveco Group N.V.
12.3.6. Cummins Inc.
12.3.7. Hyundai Mobis Co., Ltd.
12.3.8. Bosch Limited
12.3.9. Plug Power Inc.
12.3.10. CNH Industrial N.V.
12.3.11. Tata Motors Limited
12.3.12. Proterra Inc.
12.3.13. General Motors Company
Chapter 13. Research Process
13.1. Research Process
13.1.1. Data Mining
13.1.2. Analysis
13.1.3. Market Estimation
13.1.4. Validation
13.1.5. Publishing
13.2. Research Attributes
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