Alternate energy talks and reducing the carbon footprint conversations seem to revolve around the future date of 2035. This is the same year the hydrogen (H2) fuel-cell truck market targets with an 800,000 unit sale expectation. An Information Trends study speculates this exciting potential includes light, medium, and heavy-duty vehicles.
Titled “Global Market for Hydrogen Fuel Cell Commercial Trucks, 2021,” the study hypothesized that H2 powered trucks can achieve longer distances in comparison to the widely popular battery-electric vehicles. Additionally, mirroring the same capability as fossil-fueled vehicles, H2 trucks possess a quick refueling process. With the ability to serve routes of great distance, the report indicated H2 superiority and outperforming the battery-electric market.
According to Naqi Jaffery, Information Trends CEO and President, hydrogen-powered heavy duty trucks will maintain domination in the zero-emissions market. Because they take responsibility for the largest carbon emissions producers, the transition industry has displayed significant interest in transitioning from fossil fuels to zero-emissions technology.
Battery-Electric Loses Spark
While battery-electric trucks will remain competitive until approximately 2025, Jafferey said the market will shift with the construction of more hydrogen stations and falling prices of medium-sized H2 trucks. Smaller battery-electric trucks will succumb to the same fate.
The report indicated that H2 truck pricing has served as the predominant reason their development has not been widely accepted, but now a variety of factors have surfaced to reduce vehicle cost. Two, in particular, provide a major advantage over battery-electric trucks. Their weight is considerably less, making heavy cargo transport more suitable. The long-haul capability makes them more economical as well.
How H2 Vehicles Work
Fuel cell vehicles utilize pressurized hydrogen stored in a tank and a fuel cell to chemically combine hydrogen with oxygen. This chemical reaction produces electricity that is sent to an electric motor, which propels the vehicle. Exhibiting success without emissions, water is the only by-product of the process. While it does not contain all of the minerals found in drinking water, it is pure enough to be ingested by humans and animals. As long as the supply of H2 is not interrupted, electricity will continue to be produced. As a result, no batteries are needed for the process to take place.
Touted as one the most comprehensive studies on hydrogen fuel cell trucks, the study focused on manufacturer strategies and ventured deep into their profiles. Harnessing the data derived, researchers analyzed emerging markets.
Compilation of this data yielded speculation and inferences to predict sales statistics and revenue forecasts for major global regions. As a result, researchers believe 2035 will see a truck market widely controlled by the H2 fuel cell industry.