North America and Europe Hydrogen Internal Combustion Engine (H2ICE) Truck Industry Research 2024-2034: Sales is Expected to Grow More than 61 Times Between 2025 and 2034 and Reach 23,640 Units

Market Overview - The Hydrogen Internal Combustion Engine (H2ICE) truck market in North America and Europe is projected to grow significantly, with sales expected to increase by more than 61 times between 2025 and 2034, reaching 23,640 units [2] - North America is anticipated to contribute over 53% of the total sales, with the heavy-duty segment accounting for more than 96% of sales across both regions [2] Growth Drivers - Recent cutbacks in EV investments due to lower consumer interest and higher raw material prices are expected to boost the adoption of alternative ICE vehicles, including H2ICE, which offers lower price premiums and minimal modifications [3] - H2ICE vehicles can be refueled at existing fuel stations without significant infrastructure upgrades, making them more accessible in the short-to-medium term [3] Applications and Use Cases - H2ICE is suitable for a wide range of applications, particularly in regional, long-haul, and heavy-duty sectors, but less attractive for urban applications due to hydrogen refueling limitations [4] - The technology overlaps with both Battery Electric Vehicles (BEVs) and Fuel Cell Electric Vehicles (FCEVs), but its long-term competitiveness may be challenged by falling prices of BEV and FCEV components and lower electricity costs [4] Market Segmentation and Ecosystem - The market is segmented by hydrogen types based on production methods and the use of hydrogen in transportation [6] - The ecosystem includes key players, OEMs working on H2ICE, and a roadmap for product launches and engine specifications [9][12] Comparative Analysis - H2ICE trucks are compared with conventional ICE and FCEV trucks in terms of Total Cost of Ownership (TCO), emissions, engine performance, and key components [6][12] - The TCO analysis includes cost per mile comparisons and breakdowns for model years 2024, 2029, and 2034 [12] Volume Forecast and Long-term Prospects - Volume forecasts for H2ICE sales in North America and Europe are provided, with key factors influencing adoption and long-term predictions for the H2ICE life cycle [12] - The report also discusses the strategic imperatives and growth opportunities in the H2ICE market [6][12] Regulations and Incentives - The report covers regulations, incentives, and targets for H2ICE or hydrogen adoption, which are crucial for market growth [12] Research Scope and Methodology - The research scope includes market segmentation, hydrogen types, and the use of hydrogen in transportation [6] - The methodology involves a detailed analysis of the H2ICE ecosystem, including key engine details and specifications [9][12]