Study: Hydrogen fuel cell truck market poised for rapid growth

Study: Hydrogen fuel cell truck market poised for rapid growth

Heavy-duty fuel cell trucks outcompete heavy-duty battery-electric trucks on long-haul routes, Information Trends says.

Well over 800,000 hydrogen fuel cell commercial trucks will be sold by 2035, according to a study by Information Trends. These include both heavy-duty as well as light and medium-duty trucks.

The study, “Global Market for Hydrogen Fuel Cell Commercial Trucks, 2021,” says that hydrogen fuel cell technology gives trucks a higher range than battery-electric trucks, while offering rapid fueling. Because of this, heavy-duty fuel cell trucks are already outcompeting heavy-duty battery-electric trucks, particularly for long-haul routes, Information Trends said.

Heavy-duty trucks will continue to dominate the market for hydrogen fuel cell trucks, said Naqi Jaffery, president and CEO of Information Trends. There is a particular industry interest in transitioning heavy-duty trucks to zero-emission rapidly because these trucks are the biggest contributors to carbon emissions on roadways.

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

Hydrogen-Fuel-Cell-Truck-graph 1400

Smaller battery-electric trucks will have an edge over hydrogen fuel cell trucks until early 2030s, Jaffery said. These trucks will lose that edge as fuel cell trucks hit lower price points and as the hydrogen stations become more pervasive, the study said.

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

According to the study, firstly, these vehicles are lighter than battery-electric vehicles, making them better suited to carry heavy cargo. Secondly, these trucks travel much longer distances than battery-electric vehicles, making them well equipped for long-haul transportation.

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 discusses factors differentiating hydrogen fuel cell trucks from trucks running on other power sources, and their market impact.

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