Hydrogen Truck Market Size & Analysis for North America, Europe, APAC, South America, Middle East and Africa - US, UK, France, Germany, China – 2025-2029

  • Published: Aug 2025
  • Pages: 160

Hydrogen Truck Market Size 2025-2029

The hydrogen truck market size is forecast to increase significantly, driven by the rising demand for sustainable and low-emission transportation solutions. The market is expected to grow by USD 6-10 billion at a compound annual growth rate (CAGR) of 20%-25% between 2025 and 2029. Exact values for this market can be accessed upon purchasing the report.

The market is being propelled by several key factors. A major driver is the growing emphasis on reducing carbon emissions and adhering to stringent environmental regulations. As governments worldwide focus on sustainability, the transition to hydrogen-powered trucks has gained momentum, particularly in regions such as Europe and North America. Another trend is the increasing investment in hydrogen infrastructure, such as refueling stations, which is enhancing the accessibility and practicality of hydrogen trucks for logistics and transportation companies. Additionally, the growing awareness of environmental impact and the demand for clean transportation solutions are influencing the market's growth.

However, the market faces challenges, including the high cost of hydrogen fuel and infrastructure development. Despite these hurdles, companies are focusing on technological innovation and strategic partnerships to make hydrogen trucks more affordable and efficient. The market is expected to experience steady growth due to these trends, but the pace of development will be influenced by advancements in hydrogen production, storage, and distribution technologies.

To access the full market forecast and comprehensive analysis, Buy Now

How is this market segmented?

info_market_segment

The market research report provides detailed data, with forecasts and estimates in "USD billion" for the period 2025-2029, as well as historical data for the following segments:

Vehicle Type

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

Fuel Cell Technology

  • PEMFC
  • SOFC

Geography

  • North America
    • United States
    • Canada
  • Europe
    • Germany
    • France
    • UK
  • Asia Pacific
    • China
    • Japan
    • South Korea
  • South America
    • Brazil
  • Middle East & Africa

Regional Analysis

Hydrogen truck adoption is gaining traction in regions with strong sustainability policies, such as Europe, North America, and parts of Asia. The European market is particularly active, with the European Union pushing for the decarbonization of the transportation sector through initiatives like the Green Deal. Countries like Germany, France, and the Netherlands are leading the charge, implementing regulations and incentives to encourage the adoption of hydrogen-powered trucks.

North America, particularly the United States, is also witnessing significant growth, driven by increasing environmental regulations and the expansion of hydrogen infrastructure. Meanwhile, in Asia, Japan and South Korea are investing heavily in hydrogen technology, with major manufacturers like Hyundai and Toyota pushing for hydrogen adoption in the transportation sector.

Market Dynamics

Our hydrogen truck market researchers have analyzed key drivers, trends, and challenges using 2024 as the base year. A holistic view of these factors will assist companies in refining their strategies to capture a competitive edge.

What are the key market drivers leading to the rise in adoption of Hydrogen Trucks?

  • Government Regulations & Environmental Policies: Stringent environmental regulations and the global push to decarbonize the transportation sector are crucial drivers of market growth. Countries are offering incentives and subsidies for the adoption of hydrogen trucks as part of their efforts to reduce carbon emissions.
  • Technological Advancements: Continuous advancements in hydrogen fuel cell technology are making hydrogen trucks more viable. The development of higher energy-density fuel cells and improvements in hydrogen storage solutions are contributing to the increased efficiency and attractiveness of hydrogen-powered trucks.
  • Sustainability and Corporate Commitments: Major logistics companies and fleet operators are committing to decarbonizing their fleets, driving the demand for zero-emission hydrogen trucks. Companies are adopting hydrogen-powered trucks as part of their sustainability initiatives, with a focus on reducing their environmental impact.

What are the market trends shaping the Hydrogen Truck Market?

  • Increasing Investment in Hydrogen Infrastructure: The expansion of hydrogen refueling stations is a key trend driving the market forward. As more stations are built, the practicality and adoption of hydrogen trucks will continue to grow. Both public and private sector investments are playing a crucial role in the development of this infrastructure.
  • Focus on Long-Haul Transportation: Hydrogen trucks are increasingly viewed as a viable alternative to diesel-powered long-haul trucks, which is a major trend influencing the market. Their ability to provide long ranges without the long charging times associated with battery-electric trucks makes them ideal for long-distance freight transport.

What challenges does the Hydrogen Truck Market face?

  • High Cost of Hydrogen Fuel and Infrastructure: One of the primary challenges facing the hydrogen truck market is the high cost of hydrogen production and fuel. Hydrogen is still more expensive than traditional diesel fuel, and building the necessary infrastructure for refueling stations requires significant investment.
  • Limited Hydrogen Refueling Network: Despite the increasing investment in hydrogen infrastructure, the refueling network remains limited, particularly in rural and less developed areas. The lack of widespread refueling stations limits the practical use of hydrogen trucks in certain regions.

Key Companies & Market Insights

Companies are adopting various strategies, such as strategic partnerships, technology development, and market expansion, to strengthen their presence in the hydrogen truck market. The hydrogen truck market research and growth report includes detailed analyses of key companies, including:

  • Nikola Corporation
  • Toyota
  • Hyundai
  • Volvo Group
  • Daimler AG
  • MAN Truck & Bus
  • Scania AB
  • Ballard Power Systems
  • Plug Power
  • H2 Mobility
  • Air Liquide
  • Linde Group
  • Nel Hydrogen

Qualitative and quantitative analysis of companies has been conducted to help clients understand the competitive landscape, strengths, and weaknesses of key market players.

Market Scope

Base Year

      2024

Forecast Period

      2025-2029

Market Size

      USD 6-10 Billion

Market Growth

      20%-25%

Vehicle Type

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

Fuel Cell Technology

  • PEMFC
  • SOFC

Regional Landscape

  • North America
  • Europe
  • APAC
  • South America
  • Middle East and Africa

Key Companies Profiled

  • Nikola Corporation
  • Toyota
  • Hyundai
  • Volvo Group
  • Daimler AG
  • MAN Truck & Bus
  • Scania AB
  • Ballard Power Systems
  • Plug Power
  • H2 Mobility
  • Air Liquide
  • Linde Group
  • Nel Hydrogen
  • Others

For further information, Get Free Sample

How the Benefits of a Technavio Market Research Report Can Empower Your Business

Technavio’s reports provide a range of market insights, including:

  • A detailed analysis of the market, featuring market size, growth rate, segmentation, and regional performance
  • In-depth analysis of the drivers, challenges, and other dynamics that will impact the growth of the market
  • Predictions about upcoming trends and changes in consumer behavior
  • Detailed information on key market players, including market positioning, product offerings, and more
Image
Hydrogen Truck Market Size & Analysis for North America, Europe, APAC, South America, Middle East and Africa - US, UK, France, Germany, China – 2025-2029
Interested in this report?
Get your sample now!