Hydrogen Internal Combustion Engine Truck Market, North America and Europe, 2024–2034
Affordable Price Premiums and Negligible Carbon Emissions will Drive the Adoption of Hydrogen Internal Combustion Engines During the Short-to-medium Term
Recent cutbacks in EV investments due to lower consumer interest and higher raw material prices can boost alternative ICE vehicles, such as H2ICE, with lower price premiums that consumers can readily adopt in the short-to-medium term. ICEs running on hydrogen require minimal modifications and offer good customer value. These fuels can be made available at existing fuel stations without the need to upgrade or drastically change existing electricity infrastructure.
H2ICE can provide use cases for a wide range of applications, overlapping with both BEVs and FCEVs. The availability of hydrogen for refueling will remain a major impediment and make H2ICE more suitable for regional, long-haul, and heavy-duty applications and less attractive for urban applications. In the short term, the cost of hydrogen and the accessibility to refueling stations will be major factors in H2ICE adoption. However, in the long term, H2ICE will lose competitiveness in terms of cost of ownership, when compared to zero-emission vehicles, due to falling prices of BEV and FCEV components, as well as the lower cost of electricity.
H2ICE sales is expected to grow more than 61 times between 2025 and 2034 and reach 23,640 units across North America and Europe, with North America contributing more than 53% of the sales. More than 96% of the sales across the 2 regions will come from the heavy-duty segment, given the applications, range, and re-fueling accessibility factors.
Key Issues Addressed
What are the major differences between conventional ICE and Hydrogen ICE trucks?
What are the applications and use cases of H2ICE in medium and heavy duty trucks?
Drivers and challenges to growth of H2ICE adoption in the truck market?
Projected sales forecast and long term prospects of H2ICE technology in trucks?
How does H2ICE truck Total Cost of Ownership (TCO) compare against conventional ICE and FCEV trucks over the short, medium and long term?
- Transformation in the Hydrogen Internal Combustion Engine Truck Market
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative 8™
- The Impact of the Top 3 Strategic Imperatives on the Hydrogen Internal Combustion Engine Truck Market
- Growth Environment
- Key Differences between H2ICEs and Conventional ICEs
- Conventional ICEs vs. H2ICEs vs. Electric Trucks
- Volume Forecast-North America and Europe H2ICE Sales
- Ecosystem in the Hydrogen Internal Combustion Engine Truck Market
- Research Scope
- Market Segmentation
- Hydrogen Economy
- Hydrogen Types Based on Production Methods
- Use of Hydrogen in Transportation
- Hydrogen in Trucks: H2ICEs vs. Fuel Cell Electric Vehicles (FCEVs)
- Delivery of Hydrogen
- H2ICE versus Conventional ICE
- Comparison of Key Fuel Characteristics
- Comparison of Key Engine Parameters
- Comparison of Engine Performance Curves
- H2ICE Fuel Injection Methods
- Energy Efficiency: H2ICEs vs. Others
- H2ICEs vs. Conventional ICEs: Emissions
- H2ICEs vs. Conventional ICEs: ATSs
- H2ICEs vs. Conventional ICEs: Key Components and Parts
- H2ICEs vs. Conventional ICEs: Changes to Vehicle Architecture
- H2ICE Ecosystem
- Drivers
- Restraints
- H2ICE Technology Roadmap for M&HD Trucks
- H2ICE Applications
- H2ICE Use Cases
- OEMs Working on H2ICEs
- H2ICE Product Launch Roadmap
- H2ICE Key Engine Details
- H2ICE Key Engine Specifications
- Regulations, Incentives, and Targets for H2ICE or Hydrogen Adoption
- Growth Generator in H2ICE Volume Forecast
- Volume Forecast-North America H2ICE Sales
- Volume Forecast-Europe H2ICE Sales
- Volume Forecast: Key Factors Influencing H2ICE Adoption
- Long-term Prediction and the H2ICE Life Cycle
- H2ICE TCO Analysis
- TCO Analysis-Key Assumptions
- TCO Analysis-Cost per Mile Comparison
- TCO Analysis-Components and Costs, MY 2024
- TCO Analysis-Breakdown and Comparison, MY 2024
- TCO Analysis-Components and Costs, MY 2029
- TCO Analysis-Breakdown and Comparison, MY 2029
- TCO Analysis-Components and Costs, MY 2034
- TCO Analysis-Breakdown and Comparison, MY 2034
- Growth Opportunity Universe
- Growth Opportunity 1: Development of the Hydrogen Ecosystem
- Growth Opportunity 2: Alternative Low-emission Technology
- Growth Opportunity 3: Opportunities Through ICE
- Appendix & Next Steps
- Benefits and Impacts of Growth Opportunities
- Next Steps
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