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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
23-Dec-2024
Global
Market Research
PFO6-01-00-00-00
AU_2024_1236
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?
Author: Marshall Martin
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
Key Differences between H2ICEs and Conventional ICEs
Conventional ICEs vs. H2ICEs vs. Electric Trucks
Volume Forecast—North America and Europe H2ICE Sales
Research Scope
Market Segmentation
Hydrogen Types Based on Production Methods
Use of Hydrogen in Transportation
Hydrogen in Trucks: H2ICEs vs. Fuel Cell Electric Vehicles (FCEVs)
Delivery of Hydrogen
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
Drivers
Restraints
H2ICE Technology Roadmap for M&HD Trucks
H2ICE Applications
H2ICE Use Cases
OEMs Working on H2ICEs
OEMs Working on H2ICEs (continued)
OEMs Working on H2ICEs (continued)
H2ICE Product Launch Roadmap
H2ICE Key Engine Details
H2ICE Key Engine Specifications
Regulations, Incentives, and Targets for H2ICE or Hydrogen Adoption
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
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 1: Development of the Hydrogen Ecosystem
Growth Opportunity 1: Development of the Hydrogen Ecosystem (continued)
Growth Opportunity 2: Alternative Low-emission Technology
Growth Opportunity 2: Alternative Low-emission Technology (continued)
Growth Opportunity 3: Opportunities Through ICE
Growth Opportunity 3: Opportunities Through ICE (continued)
Benefits and Impacts of Growth Opportunities
Next Steps
List of Exhibits
List of Exhibits (continued)
Legal Disclaimer
List of Figures
- H2ICE: Volume Forecast—H2ICE Sales, North America and Europe, 2024–2034
- H2ICE: Thermal Efficiency Curve: H2ICEs vs. Diesel ICEs, Global, 2024
- H2ICE: Peak Efficiency of Different Powertrains, Global, 2024
- H2ICE: Emissions for Heavy-duty (HD) Vehicles, Global, 2024
- H2ICE: Diesel ICE and H2ICE ATS Comparison, North America and Europe, 2024
- H2ICE: Drivers for H2ICE Deployment, North America and Europe, 2024–2034
- H2ICE: Restraints for H2ICE Deployment, North America and Europe, 2024–2034
- H2ICE: Technology Roadmap for M&HD Trucks, North America and Europe, 2023–2033
- H2ICE: Product Launch Timeline, North America and Europe, 2021–2032
- H2ICE: Key Engine Details, North America, Europe, and India, 2024
- H2ICE: Key Engine Specifications, North America and Europe, 2024
- H2ICE: Volume Forecast—H2ICE Sales, North America, 2024–2034
- H2ICE: Volume Forecast—H2ICE Sales, Europe, 2024–2034
- H2ICE: Key Factors Influencing H2ICE Adoption, North America and Europe, 2025–2050
- H2ICE: Average H2ICE Penetration, M&HD Trucks, North America and Europe, 2025–2050
- H2ICE: TCO Analysis—Key Assumptions, North America, 2024–2048
- H2ICE: TCO Analysis— Cost per Mile Comparison, North America, 2024–2048
- H2ICE: TCO Analysis—Components and Costs, MY 2024, North America, 2024–2038
- H2ICE: TCO Analysis—Breakdown and Comparison, MY 2024, North America, 2024–2038
- H2ICE: TCO Analysis—Components and Costs, MY 2029, North America, 2029–2043
- H2ICE: TCO Analysis—Breakdown and Comparison, MY 2029, North America, 2029–2043
- H2ICE: TCO Analysis—Components and Costs, MY 2034, North America, 2034–2048
- H2ICE: TCO Analysis—Breakdown and Comparison, MY 2034, North America, 2034–2048
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