Global Hydrogen Trucks Market is Expected to Flourish at a CAGR of 41%, and is Likely to Cross More Than US$ 119.18 Bn Between Forecast Period 2023-33 | Expertise Analysis from Future Market Insights, Inc.

NEWARK, DE / ACCESSWIRE / December 29, 2022 / According to FMI reports, the global hydrogen truck market is expected to grow by nearly US$ 3.84 Bn by 2023. This is with a substantial and impressive CAGR of 41% expected over the forecast period, which is projected to reach over US$ 119.18 Bn by the year 2033.

It is expected that, in the forecast period, each of these factors is expected to have a significant impact on the hydrogen trucks market. This is because hydrogen trucks are capable of removing all carbon dioxide and harmful pollutants from the atmosphere, which assists in saving the environment.

In addition to environmental concerns, government initiatives for hydrogen fuel cell infrastructure, a high initial investment in infrastructure, technological advancements, and future potential, the global market is impacted by several factors.

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As awareness increases the effects of air pollution and traffic levels as well as greenhouse gas emissions, hydrogen trucks may become more popular because they are more eco-friendly than other conventional vehicles.

Key Takeaways from the Hydrogen Trucks Market Study

• North America dominates the market for hydrogen trucks.

• The hydrogen trucks are expected to increase at a notable CAGR of 41%.

• Asia Pacific region is expected to grow at the fastest rate with an increased revenue share.

• Hydrogen fuel cell forklifts have become more popular as people increase awareness regarding environmental issues, government initiatives, and increasing concern about cost-effectiveness.

Competitive Landscape for the Hydrogen Trucks Market

Various producers and service providers occupy considerable shares of the global market, including Anglo American Platinum Ltd. and Ares Motor Works. The companies have been successful in acquiring new and long-term contracts from different countries over the years.

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Cellcentric GmbH & Co. KG, Dongfeng Motor Corporation, Esoro AG, Beiqi Foton Motor, Cummins Inc., H2X Global, Hyundai Motor Company, Hyzon Motors, Jaguar Land Rover Automotive, Kenworth Trucks, Paccar, Nikola Corporation and others, the market is growing and establishing a strong global presence.

Recent Developments in the Hydrogen Trucks Market

• Together, Hyzon and ORTEN's complementary product lines, as well as ORTEN's body and powertrain kits, offer customers a complete solution for making their fleets zero-emission. Moreover, ORTEN's management maintains extensive and permanent contact with customers throughout Germany.

• An investment of $2.3 million will be made in the Alberta Zero-Emissions Truck Electrification Collaboration (AZTEC) project by the Jr. Minister of natural resources, Seamus O Regan. A consortium of project partners, including the Hydrogen Technology and Energy Corporation, Bison Transport, and Canadian Energy Systems Analysis Research, led this project.

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

3.2. Scenario Forecast

3.2.1. Demand in Optimistic Scenario

3.2.2. Demand in Likely Scenario

3.2.3. Demand in Conservative Scenario

3.3. Opportunity Map Analysis

3.4. Product Life Cycle Analysis

3.5. Supply Chain Analysis

3.5.1. Supply Side Participants and their Roles

3.5.1.1. Producers

3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)

3.5.1.3. Wholesalers and Distributors

3.5.2. Value Added and Value Created at Node in the Supply Chain

3.5.3. List of Raw Material Suppliers

3.5.4. List of Existing and Potential Buyer's

3.6. Investment Feasibility Matrix

3.7. Value Chain Analysis

3.7.1. Profit Margin Analysis

3.7.2. Wholesalers and Distributors

3.7.3. Retailers

3.8. PESTLE and Porter's Analysis

3.9. Regulatory Landscape

3.9.1. By Key Regions

3.9.2. By Key Countries

3.10. Regional Parent Market Outlook

3.11. Production and Consumption Statistics

3.12. Import and Export Statistics

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