Global Hydrogen Truck Market Size, Share, Growth Analysis By Vehicle (Heavy-duty trucks, Medium-duty trucks, Small-duty trucks), By Fuel Cell Technology (PEMFC, SOFC), By Range (Up to 300 miles, 300-500 miles, Above 500 miles), By Motor Power (Up to 200 Kw, 200-400 Kw, Above 400 Kw), By Application (Logistics and Transport, Municipal, Construction, Others), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Statistics, Trends and Forecast 2025-2034

Report Overview

The Global Hydrogen Truck Market size is expected to be worth around USD 50.8 Billion by 2034, from USD 5.2 Billion in 2024, growing at a CAGR of 25.6% during the forecast period from 2025 to 2034.

A hydrogen truck is a heavy vehicle powered by hydrogen fuel cells instead of diesel or gasoline. It uses hydrogen to generate electricity, which runs the electric motor. Hydrogen trucks produce zero emissions, offering a cleaner alternative for freight transport. They are ideal for long-distance and heavy-duty applications.

The Hydrogen Truck Market includes manufacturers, technology providers, and infrastructure developers involved in hydrogen-powered trucks. This market is expanding due to stricter emissions regulations, government incentives, and advancements in hydrogen fuel cell technology. Companies invest in hydrogen-powered transport to reduce carbon footprints and meet sustainability goals.

According to New York’s Advanced Clean Trucks rule, manufacturers must increase zero-emission truck sales to 7% by 2025 and 40% by 2035. However, lawmakers propose delaying implementation until 2027, citing infrastructure and cost challenges. As a result, the hydrogen truck industry faces uncertainty despite growing regulatory support for clean energy transportation.

Toyota remains committed to hydrogen despite low sales of its Mirai, which sold only 27,500 units in a decade. The company is now shifting focus to hydrogen-powered trucks and buses. Additionally, Toyota is working with Isuzu Motors on a light-duty fuel cell truck. This highlights industry confidence in hydrogen’s long-term potential despite slow market adoption.

The hydrogen truck market offers opportunities as governments push for emission-free transport. However, 99% of green hydrogen projects in Australia have stalled due to high costs and weak demand. In contrast, investments continue in North America and Europe, where policies favor hydrogen development. Consequently, industry players face both risks and opportunities.

Market saturation varies by region. North America and Europe are seeing increased hydrogen truck adoption, while Asia lags due to cost concerns. Meanwhile, competition is rising as new players enter the market. Established automakers like Toyota and Isuzu are investing in hydrogen technology, while others focus on battery-electric alternatives.

Key Takeaways

• The Hydrogen Truck Market was valued at USD 5.2 billion in 2024 and is expected to reach USD 50.8 billion by 2034, with a CAGR of 25.6%.
• In 2024, Heavy-duty trucks dominated with 52.6% share, driven by their adoption in long-haul transportation.
• In 2024, PEMFC (Proton Exchange Membrane Fuel Cells) led with 61.4% due to their high efficiency and performance.
• In 2024, 300-500 miles range held 42.1% share, catering to logistics and commercial fleets.
• In 2024, Above 400 kW motor power dominated with 46.7%, ensuring high power output for large vehicles.
• In 2024, Logistics and Transport accounted for 55.6%, supported by government incentives for hydrogen adoption.
• In 2024, North America led with 37.2% market share, valued at USD 1.93 billion, due to strong hydrogen infrastructure investments.

Vehicle Analysis

Heavy-duty trucks dominate with 52.6% due to their high efficiency and capacity.

In the Hydrogen Truck Market, the Vehicle segment prominently features Heavy-duty trucks, which hold a substantial 52.6% market share. Their dominance in the market is largely due to their ability to handle significant loads efficiently and effectively, making them indispensable in sectors that require the transport of large volumes over considerable distances.

The shift towards hydrogen fuel technology has been particularly impactful for these vehicles as it combines the need for powerful performance with environmental sustainability, significantly reducing carbon emissions without compromising on the truck’s capacity or efficiency.

Medium-duty trucks offer versatility and are commonly used in urban settings for medium-scale deliveries. They balance payload capacity with maneuverability, making them ideal for city logistics. Small-duty trucks, on the other hand, excel in short-range deliveries and are crucial in the final leg of delivery routes, often known as last-mile delivery. These trucks are valued for their agility and efficiency in congested urban environments, playing a pivotal role in the broader adoption of hydrogen technology in commercial transportation.

Fuel Cell Technology Analysis

PEMFC leads with 61.4% due to its higher energy efficiency and quicker refueling times.

Fuel cell technology within the Hydrogen Truck Market is led by Proton Exchange Membrane Fuel Cells (PEMFC), which command a market share of 61.4%. The technology’s prevalence is due to its effective energy conversion rates, lower operational temperatures, and quicker start-up and refueling capabilities, which are critical in commercial transportation settings. PEMFCs are favored for their operational efficiency and reliability, providing consistent power output and durability under varied environmental conditions.

Solid Oxide Fuel Cells (SOFC), while holding a smaller share, are recognized for their high efficiency at elevated temperatures and their flexibility in fuel compatibility. This technology can utilize a broader range of hydrogen sources, potentially lowering operational costs and enhancing the applicability of hydrogen fuel cells in long-duration applications where direct hydrogen sourcing is challenging.

Range Analysis

The 300-500 miles range segment leads with 42.1% due to its balance between range and cost efficiency.

The Range segment in the Hydrogen Truck Market is predominantly led by trucks capable of traveling 300-500 miles on a single refuel, holding a market share of 42.1%. This range category is particularly favored for its ability to adequately meet the logistical requirements of most regional freight operations without the need for frequent refueling. It represents an optimal balance between operational range and economic viability, which is crucial for businesses looking to maximize efficiency while keeping operational costs manageable.

Trucks with a range of Up to 300 miles are typically employed for shorter, more frequent trips and are essential in urban logistics, where trips are short but frequent. Trucks capable of traveling more than 500 miles are suited for long-haul applications, where they can travel extensive distances without the need for stopping, thus maximizing logistical efficiency and payload delivery timelines.

Motor Power Analysis

Trucks with Above 400 Kw power dominate with 46.7% due to their superior performance and heavy-load capacity.

In terms of Motor Power, trucks equipped with motors Above 400 Kw lead the segment with a 46.7% share. These high-powered motors are essential for heavy-duty applications, where they provide the necessary force for hauling large loads over long distances. The high power output ensures that the trucks can maintain optimal speeds and efficiency, even under strenuous conditions, making them ideal for heavy industrial and construction-related tasks.

Vehicles with motor power ranging from 200-400 Kw serve as a middle ground, offering sufficient power for a variety of tasks without the extensive resource commitment of the highest power range. Motors Up to 200 Kw are typically found in lighter trucks, prioritizing fuel efficiency and cost-effectiveness for everyday and urban tasks.

Application Analysis

Logistics and Transport lead with 55.6% due to the critical need for efficient, eco-friendly transport solutions.

The Application segment in the Hydrogen Truck Market is heavily dominated by Logistics and Transport, with a 55.6% share. This segment’s prominence is driven by the logistics sector’s ongoing efforts to adopt greener technologies and improve the environmental profile of their operations. Hydrogen trucks offer a practical solution by providing the necessary operational efficiency while significantly reducing greenhouse gas emissions.

Municipal applications of hydrogen trucks are increasing as cities aim to reduce urban emissions and improve air quality. Construction applications are also growing, with a focus on reducing the carbon footprint of building projects and complying with stricter environmental regulations. These sectors are progressively recognizing the benefits of hydrogen-powered vehicles in achieving sustainability objectives while maintaining high standards of operational efficiency.

Key Market Segments

By Vehicle

• Heavy-duty trucks
• Medium-duty trucks
• Small-duty trucks

By Fuel Cell Technology

• PEMFC
• SOFC

By Range

• Up to 300 miles
• 300-500 miles
• Above 500 miles

By Motor Power

• Up to 200 Kw
• 200-400 Kw
• Above 400 Kw

By Application

• Logistics and Transport
• Municipal
• Construction
• Others

Driving Factors

Hydrogen Infrastructure and Government Incentives Drive Market Growth

The expansion of hydrogen refueling infrastructure is a key factor driving the growth of the hydrogen truck market. Governments and private companies are investing heavily in building refueling stations to support the widespread adoption of hydrogen-powered trucks. A well-developed infrastructure ensures reliable fuel supply, making hydrogen a viable option for long-haul transportation.

Additionally, the rising demand for zero-emission heavy-duty transportation is pushing companies to explore hydrogen-powered alternatives. Traditional diesel trucks contribute significantly to carbon emissions, leading many logistics companies to adopt cleaner technologies. Hydrogen fuel cell trucks offer a promising solution by providing long-range capabilities without producing harmful emissions.

Government incentives are further accelerating market adoption. Many countries offer financial support, such as tax credits, subsidies, and grants, to encourage fleet operators to switch to hydrogen fuel cell trucks. These policies make hydrogen vehicles more affordable and attractive for commercial use.

Furthermore, collaboration between hydrogen fuel producers and truck manufacturers is driving innovation. Fuel producers are working closely with truck makers to develop efficient hydrogen-powered models and ensure a steady supply of fuel. As these partnerships expand, the market for hydrogen trucks is expected to grow rapidly, making them a competitive option for sustainable transportation.

Restraining Factors

High Costs and Limited Infrastructure Restrain Market Growth

Despite its potential, the hydrogen truck market faces several challenges that hinder growth. One of the biggest obstacles is the high production and transportation cost of hydrogen fuel. Producing hydrogen, especially green hydrogen, requires significant investment in electrolysis technology and renewable energy sources, making it expensive compared to traditional fuels.

Another major challenge is the limited availability of hydrogen refueling stations worldwide. Unlike diesel or electric charging stations, hydrogen refueling infrastructure is still in its early stages. This lack of widespread accessibility makes it difficult for fleet operators to rely on hydrogen trucks for long-haul routes.

Additionally, hydrogen refueling takes longer compared to battery electric vehicle (BEV) charging. While hydrogen offers longer driving ranges than BEVs, its refueling process is more complex, involving high-pressure tanks and specialized stations. This longer refueling time can create delays in commercial transportation.

Complex regulatory requirements for hydrogen fuel storage and transport further slow market adoption. Hydrogen is highly flammable and requires strict safety measures for handling and distribution. Meeting these regulations adds costs and logistical challenges for companies investing in hydrogen trucking solutions. Overcoming these barriers will require continued technological advancements and policy support.

Growth Opportunities

Green Hydrogen and Fuel Cell Advancements Provide Opportunities

Advancements in hydrogen fuel cell technology are opening new opportunities for the hydrogen truck market. Modern fuel cell systems are becoming more efficient, allowing trucks to travel longer distances while reducing energy waste. These improvements make hydrogen-powered trucks more competitive with diesel and electric alternatives.

The expansion of green hydrogen production is another major opportunity. Green hydrogen, produced using renewable energy sources like wind and solar power, is gaining traction as a sustainable fuel option. As production costs decrease, hydrogen fuel will become more accessible, driving wider adoption in the trucking industry.

The development of lightweight hydrogen storage tanks is also improving vehicle performance. Traditional hydrogen tanks add weight to trucks, reducing efficiency. New storage technologies, such as carbon-fiber tanks, offer higher storage capacity without compromising fuel efficiency. This advancement extends the range of hydrogen trucks, making them more practical for long-haul transport.

Additionally, the growing integration of hydrogen trucks in long-haul logistics networks is creating new market opportunities. Logistics companies are beginning to adopt hydrogen-powered fleets to reduce emissions and comply with environmental regulations. As more businesses invest in hydrogen trucking solutions, the market will continue to expand, positioning hydrogen as a key fuel for future transportation.

Emerging Trends

Hybrid Powertrains and Autonomous Hydrogen Trucks Are Latest Trending Factors

The adoption of hybrid hydrogen-electric powertrains is a key trend shaping the hydrogen truck market. These systems combine hydrogen fuel cells with battery-electric power, providing extended range and improved efficiency. By using both energy sources, hybrid trucks can operate more flexibly and reduce reliance on refueling infrastructure.

The growth of hydrogen-powered public transportation fleets is another significant trend. Cities worldwide are investing in hydrogen buses and trucks for cleaner urban transportation. Public transit agencies are adopting hydrogen technology to meet emissions reduction targets while maintaining efficient fleet operations.

The development of mobile hydrogen refueling stations is also gaining attention. These stations provide greater accessibility by allowing hydrogen trucks to refuel at various locations without relying on permanent infrastructure. Mobile solutions make hydrogen fueling more convenient, accelerating adoption in remote and underserved areas.

Additionally, rising investments in autonomous hydrogen truck technologies are shaping the future of logistics. Companies are exploring self-driving hydrogen trucks to improve efficiency and reduce labor costs. These innovations have the potential to transform freight transportation by combining automation with sustainable fuel solutions. As these trends gain momentum, hydrogen trucks are expected to become a key player in the future of clean and intelligent transportation.

Regional Analysis

North America Dominates with 37.2% Market Share in the Hydrogen Truck Market

North America leads the Hydrogen Truck Market with a 37.2% share, totaling USD 1.93 billion. This dominance is driven by the region’s commitment to sustainability and aggressive policies towards reducing carbon emissions in transportation.

The market’s growth in North America is propelled by significant investments from both private and public sectors in hydrogen fuel infrastructure and technology. The presence of key automotive and energy players who are pioneering the development and deployment of hydrogen trucks also enhances the region’s market position.

Looking forward, North America’s influence in the global Hydrogen Truck Market is poised to increase as the demand for cleaner transportation solutions grows and technology continues to evolve. The region’s early adoption of regulations favoring green energy and sustainable practices will likely continue to foster innovation and market expansion.

Regional Mentions:

• Europe: Europe is rapidly advancing in the Hydrogen Truck Market due to strong governmental support and the establishment of hydrogen corridors across the continent. These initiatives are critical to facilitating widespread adoption of hydrogen-fueled transportation.
• Asia Pacific: Asia Pacific is making significant strides, led by countries such as China and South Korea, which are investing heavily in hydrogen infrastructure to decrease urban pollution and enhance energy security.
• Middle East & Africa: The Middle East and Africa are slowly entering the Hydrogen Truck Market, with a focus on diversifying energy sources and developing hydrogen as a key component of their future energy strategies.
• Latin America: Latin America is in the nascent stages of exploring hydrogen as an alternative fuel source. The region shows potential for growth with increasing interest in reducing reliance on traditional fossil fuels and improving urban air quality.

Key Regions and Countries Covered in the Report

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Competitive Landscape

The Hydrogen Truck Market is currently led by notable companies such as Hyundai Motor Company, Nikola Corporation, Daimler Truck AG (Mercedes-Benz Group AG), and Volvo Group. These firms are at the forefront due to their significant contributions towards developing hydrogen-fueled transportation solutions which are crucial for the future of eco-friendly logistics.

Hyundai Motor Company is pioneering this field with its highly acclaimed hydrogen fuel cell technology, which powers trucks that are both efficient and environmentally friendly. Hyundai’s dedication to innovation ensures their trucks meet the highest standards of sustainability and performance. Nikola Corporation follows with its focus on integrating cutting-edge hydrogen and electric infrastructure to revolutionize the trucking industry, aiming to reduce carbon emissions significantly.

Daimler Truck AG, under the Mercedes-Benz Group, brings its extensive experience in automotive design and engineering to the hydrogen truck market, working on developing trucks that combine reliability with zero-emission technology. Meanwhile, Volvo Group is investing heavily in hydrogen fuel solutions that promise to deliver long-haul capabilities without the environmental impact of traditional diesel engines.

These leading companies are not only advancing hydrogen technology but are also setting the stage for a radical transformation in the trucking industry by promoting sustainable and innovative transportation solutions.

Major Companies in the Market

• Hyundai Motor Company
• Nikola Corporation
• Daimler Truck AG (Mercedes-Benz Group AG)
• Volvo Group
• TRATON GROUP (MAN Truck & Bus SE)
• Scania
• PACCAR Holding B.V. (DAF)
• Dongfeng Motor Corporation
• Foton International
• Yutong International Holding Co., Ltd.
• Others

Recent Developments

• Nikola Corporation: On October 2025, electric truck manufacturer Nikola Corporation filed for Chapter 11 bankruptcy. This decision follows a series of financial struggles, fraud allegations, and the incarceration of founder and former CEO, Trevor Milton. Nikola is now seeking to sell its assets as it reported having assets between $500 million and $1 billion against liabilities of $1 billion to $10 billion.
• EG Group and Hydrogen Vehicle Systems (HVS): On September 2025, EG Group reported a $33 million loss from its investment in the struggling hydrogen vehicle start-up Hydrogen Vehicle Systems. Initially investing £5 million in HVS in 2021 and providing an additional £25 million loan in 2022, EG Group fully impaired the loan due to “increased credit risk”. HVS is now urgently seeking £9 million to continue its operations in developing hydrogen-powered vehicles.

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