Report Highlights
The global hydrogen engines market reached $2.6 billion in 2022, should reach $3.2 billion by 2023 and $10.5 billion by 2028 with a compound annual growth rate (CAGR) of 26.8% during the forecast period of 2023-2028.
Report Includes
- 29 data tables and 35 additional tables
- An overview of the global markets for hydrogen combustion engine technology
- Estimation of market size and analyses of global market trends, with data from 2022, estimates for 2023, and projections of compound annual growth rates (CAGRs) through 2028
- Assessment of the regulatory environment, demographics, and other factors that directly affect the hydrogen combustion engine technology market
- Discussion on the implications of hydrogen combustion engine technology in the context of the current size and growth of the market
- Evaluation of key industry acquisitions and strategic alliances and market share analysis of the leading suppliers of the industry
- Company profiles of major players within the industry, including Cummins Inc., Honda Motor Co. Ltd., Hyundai Motor Co., Tata Motors Ltd., Hyzon Motors, and Nikola Corp.
Report Scope
This report analyzes the type of vehicle, technology type, sales channels, regional market and others for the hydrogen engine market. Hydrogen engines are commonly marketed as fuel cell vehicles, hydrogen-powered vehicles or fuel cell electric vehicles (FCEV) in many countries. Therefore, the study examines the scenario for fuel-cell electric vehicles and provides the market potential for such vehicles in the coming five years. The study also provides market dynamics such as drivers, restraints, trends and opportunities in the global market. Furthermore, the report includes a chapter deliberately for fundings and M&A related information.
The report is prepared in a simple, easy-to-understand format; tables and figures are included to illustrate historical, current and future market scenarios. The report also covers leading companies with information on product types, business footprints, revenues and employee strength, among other categories. We will also list emerging players in the global and regional markets, along with their product-related information. The study also includes the patent analysis for the hydrogen combustion engine technology market, representing a significant investment area for investors.
The study includes the impact of COVID-19 and the Russia-Ukraine war on the global and regional markets.
2022 is considered as the historic/base year for this report, with 2023 as an estimated year; and the market values are forecasted for five years until 2028. All market values are in U.S. dollars ($).
Report Synopsis
Report Metrics | Details | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Base year considered | 2022 | ||||||||||
Forecast period considered | 2023-2028 | ||||||||||
Base year market size | $2.6 billion | ||||||||||
Market size forecast | $10.5 billion | ||||||||||
Growth rate | CAGR of 26.8% for the forecast period of 2023-2028 | ||||||||||
Units considered | $ Millions | ||||||||||
Segments covered | Technology, Sales Channel, Vehicle Type, Region | ||||||||||
Regions covered | North America, Europe, Asia-Pacific, Rest of the World (RoW) | ||||||||||
Countries covered | U.S., Canada, Germany, Netherlands, France, U.K., Switzerland, Norway, Italy, Spain, Russia, Poland, and others, South Korea, China, Japan, India, Australia, and others, South Africa, Argentina, Brazil, and others, Middle East and Africa, Algeria, Egypt, Morocco, South Africa, UAE, Israel, Saudi Arabia, Turkey, and others | ||||||||||
Key Market Drivers |
|
||||||||||
Companies studied |
|
Frequently Asked Questions (FAQs)
- Government supports.
- Rising demand for clean fuels in the transportation sector.
- Benefits of hydrogen-powered vehicles over electric vehicles.
- Increasing the price of diesel and gasoline fuel.
- Phasing out plans for internal combustion engines is a green signal for the FCEV business.
Analyst Credentials
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
Related Reports
Global Hydrogen Economy: Merchant Hydrogen and Hydrogen Purification Technologies
The global hydrogen technologies market should reach $38.5 billion by 2027 from $21.0 billion in 2022 at a compound annual growth rate (CAGR) of 12.9% for the forecast period of 2022 to 2027.
Green Hydrogen: Global Market Outlook
The goal is to provide an up-to-date analysis of the global green hydrogen market and future opportunities in the market. The report provides an overview of the global green hydrogen market and analyzes market trends. It also highlights major trends and challenges that affect the market and the vendor landscape. The scope of the study includes market drivers and restraints, the competitive landscape, and current and emerging technologies. And market forecasts in terms of volume for the period (2022-2027) are made for technology, power source, and geography in the study.
Global PEM Electrolyzer and MEA Component Market
The global PEM electrolyzer (PEMEL) market should grow from $737.6 million in 2022 to $4.3 billion by 2027 with a compound annual growth rate (CAGR) of 42.2% for the period of 2022-2027.
Hydrogen Fuel Cell: Global Markets
The global market for hydrogen fuel cells reached $6.6 billion in 2021. The market should grow from $7.5 billion in 2022 to $19.5 billion by 2027, at a compound annual growth rate (CAGR) of 21.0% during 2022-2027.
Recent Reports
Biodiesel Feedstocks: Technologies, Synthesis, Efficiency and Policies
The global market for biodiesel is expected to grow from $43.1 billion in 2023 to $51.6 billion by the end of 2028, at a compound annual growth rate (CAGR) of 3.7% from 2023 through 2028.
Lithium Mining: Global Markets
The global market for lithium mining is expected to grow from $5.7 billion in 2023 and projected to reach $9.1 billion by the end of 2028, at a compound annual growth rate (CAGR) of 10.0% from 2023 to 2028.
Global Smart Transformer Market
This report provides an overview of the global smart transformer market. It presents current, and future market scenarios in the smart transformer industry. The report also covers leading companies with information on product portfolios, global headquarters addresses, and more. Using 2022 as the base year, the report provides market forecasts through 2028.
Nuclear Fusion and Advanced Materials: Emerging Opportunities
The global market for nuclear fusion technologies is expected to increase from $1.7 billion in 2035 to $6.8 billion by the end of 2040, with a compound annual growth rate (CAGR) of 31.6% during the forecast period of 2035-2040.
Global Bifacial Solar Market
This report provides an overview of the global bifacial solar market. It covers various region-specific developments in the industry. The report also assesses the bifacial solar market by type of panel, module and frame, along with installation and application. The report also profiles leading companies with information on product portfolios.
Top Trending Reports
Cell and Gene Therapy Tools, and Reagents: Global Markets
The global market for cell and gene therapy tools and reagents is estimated to grow from $8.3 billion in 2022 to $13.7 billion in 2027, with a compound annual growth rate (CAGR) of 10.6% for the period of 2022-2027.
ESG Trends in Chemical Industry
This report focuses on the ESG trends in the chemical industry and evaluates the ESG implementation including current and future potential. The report utilizes various databases, including sustainability reports, annual reports, and other indicators used to develop the current market. The study provides detailed information on the main factors influencing ESG growth in the chemical industry. It enables the reader to understand the industry in general while also providing insight into the inter-relationship between ESG and the sustainable chemical industry. The report describes market growth, developing trends, industry leaders, and applications of ESG implementation in the chemical industry.
Digital Pathology: Technologies and Global Markets
The global digital pathology market is estimated to increase from $5.9 billion in 2022 to reach $10.7 billion by 2027, at a compound annual growth rate (CAGR) of 12.5% from 2022 through 2027.
Smartphone-Based Patient Monitoring: Global Market
The global smartphone-based patient monitoring market should reach $21.5 billion by 2027 from $6.8 billion in 2022 at a compound annual growth rate (CAGR) of 25.9% for the forecast period of 2022 to 2027.
Seawater and Brackish Water Desalination
The global market for seawater and brackish water desalination is estimated to increase from $14.7 billion in 2022 to $21.7 billion by 2027, at a compound annual growth rate (CAGR) of 8.1% from 2022 through 2027.
Become A Member
BCC Research offers a comprehensive library of reports, granting members unlimited access to data, insights, and market intelligence for informed business decisions, while actively supporting members in their evolving journeys and prioritizing high-quality, relevant topics based on continuous engagement with the research community.
Find Out MoreCustom Consulting
BCC Research emphasizes the importance of organizations leveraging highly customized market insights aligned with specific strategic business objectives through direct engagement with primary sources and proprietary forecasting models for profitable decision-making in maximizing growth opportunities and minimizing risks.
Customize NowScorecard
The Venture Scorecard provides commercialization offices and decision makers with expert analysis, offering strategic insights crucial for aligning objectives with market realities at various stages of commercializing new products or evaluating investment opportunities, from opportunity assessment to growth planning.
Find Out MoreInnovation Spotlight
Our industry experts offer strategic guidance to maximize the market potential of commercialized products, patents, and IP by providing insights into market trends, competitive dynamics, and effective positioning, using the Innovation Spotlight service for enhanced exposure to thought leaders and the wider community.
Find Out More