Hydrogen Engine: Global Markets

Aug 2023| EGY188A| BCC Publishing

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 ($).

Frequently Asked Questions (FAQs)

The hydrogen engine market was valued at $2.6 billion in 2022 and is projected to reach $10.5 billion by 2028. This market is expected to grow at a CAGR of 26.8% between 2023 and 2028.
  • 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.
The hydrogen engine market is segmented by technology, sales channel, vehicle type, and region.
Proton membrane exchange segment will dominate the market by the end of 2028.
Asia-Pacific holds the highest share of the global market.
Key companies in the market include Cummins Inc., Daimler Truck Ag, General Motors, Honda Motor Co., Ltd., Hyundai Motor Company, Hyzon Motors, Man Energy Solutions Se, Nikola Corp., Tata Motors Limited, Toyota Motor Corp., and Others.

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.

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
  • Government Supports
  • Rising the Demand for Clean Fuels in the Transportation Sector
  • Benefits of Hydrogen-Powered Vehicles Over Electric Vehicles
  • Increasing the Price of Diesel and Gasoline Fuel
Companies studied
  • CUMMINS INC.
  • DAIMLER TRUCK AG
  • GENERAL MOTORS
  • HONDA MOTOR CO. LTD.
  • HYUNDAI MOTOR CO.
  • HYZON MOTORS
  • MAN ENERGY SOLUTIONS SE
  • NIKOLA CORP.
  • TATA MOTORS LTD.
  • TOYOTA MOTOR CORP.

Table of Contents

All reports provided in PDF format. For shared licensing options (5+ Users), please call a representative at (+1) 781-489-7301 or contact us at info@bccresearch.com
Title/Chapter NamePagesMember Price
Full Report: Hydrogen Engine: Global Markets201Free
Chapter- 1: Introduction10Free
Chapter- 2: Summary and Highlights3Free
Chapter- 3: Market Overview21Free
Chapter- 4: Market Dynamics9Free
Chapter- 5: Market Breakdown by Technology15Free
Chapter- 6: Market Breakdown by Sales Channel8Free
Chapter- 7: Market Breakdown by Vehicle Type14Free
Chapter- 8: Market Breakdown by Region37Free
Chapter- 9: Emerging Technologies and Developments6Free
Chapter- 10: Patent Analysis43Free
Chapter- 11: M&A and Funding Outlook2Free
Chapter- 12: Competitive Landscape12Free
Chapter- 13: Company Profiles19Free
Chapter- 14: Appendix: Acronyms2Free
Hydrogen Engine: Global Markets

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