2025年8月份，我国新能源重卡市场继续保持高位，整体销量接近1.8万辆。 今年以来，新能源重卡市场最重要的"存在"自然是占比最大的纯电动重卡。不过，即便是"存在感"比纯电动重卡弱了许多，2025年燃 料电池重卡和混合动力重卡也有各自的看点和亮点。 请看第一商用车网的分析报道。 氢能重卡遭遇"5连降"，混动重卡同比增长145% 根据第一商用车网掌握的最新数据，2025年8月份，国内新能源重卡共计销售1.78万辆（注：本文数据来源为交强险实销口径，不含出 口和军车，下同），同比增长182%，其中纯电动、燃料电池和混动动力（包括柴油混合动力、甲醇混合动力和天然气混合动力，下 同）车型分别销售1.75万辆、162辆和76辆，环比分别增长7%、-31%和-12%，同比分别增长208%、-72%和145%，燃料电池重 卡连续五个月遭遇同比下降，混合动力重卡同比虽实现增长，但同比增速低于新能源重卡市场整体增速，继续跑输新能源重卡市场"大 盘"。 根据第一商用车网的观察，混合动力重卡和氢燃料电池重卡今年的"存在感"都不强。上图可见，今年1-8月，除了3月份、6月份和7月 份燃料电池重卡能被一眼看见（3月份、6月份和7月份燃 ...

Core Viewpoint - The domestic new energy heavy truck market in China continues to perform strongly, with total sales reaching 16,600 units in July 2025, representing a year-on-year growth of 152% [1][4]. Summary by Sections Overall Market Performance - In July 2025, the new energy heavy truck market sold 16,600 units, with pure electric trucks being the most significant segment, accounting for 1,630 units sold, while fuel cell and hybrid trucks sold 236 and 86 units respectively [4][10]. - The overall market saw a year-on-year increase of 152%, with pure electric trucks growing by 176%, fuel cell trucks declining by 64%, and hybrid trucks increasing by 139% [4][10]. Fuel Cell Trucks - Fuel cell heavy trucks experienced a "four consecutive months" decline in year-on-year sales, with July sales at 236 units, down 21% month-on-month and 64% year-on-year [10][12]. - The market share of fuel cell trucks in the new energy heavy truck segment was only 1.61% from January to July 2025, indicating a lack of presence compared to pure electric trucks, which dominated with 97.80% market share [6][10]. Hybrid Trucks - Hybrid heavy trucks showed a year-on-year growth of 139%, but this growth rate was still lower than the overall new energy heavy truck market growth [4][10]. - The market share of hybrid trucks was only 0.59% from January to July 2025, highlighting their limited impact in the market [6]. Competitive Landscape - The competition among fuel cell truck manufacturers is intense, with SANY leading the monthly sales chart in July, followed by Shaanxi Automobile and Heavy Truck [12][17]. - The cumulative sales of fuel cell trucks from January to July 2025 reached 1,540 units, a year-on-year decline of 22%, with significant disparities among manufacturers [18][17]. - SANY and China National Heavy Duty Truck ranked first and second in cumulative sales, with market shares of 38.44% and 21.82% respectively, both showing substantial increases compared to the previous year [17][18].

Core Insights - The fuel cell heavy truck has become a major breakthrough for the commercialization of hydrogen energy technology in China, establishing a complete development loop of "technical breakthroughs - scenario validation - model innovation" [1][12] - The industry is expected to see a sales volume of 4,441 fuel cell heavy trucks in 2024, representing a year-on-year growth of 23% [1][14] - Continuous technological innovation is anticipated to lower the costs of fuel cell systems, with key components expected to achieve large-scale cost reductions by 2025 [1][8] Industry Overview - Fuel cell heavy trucks utilize hydrogen fuel cell systems as their main power source, designed for medium to long-distance freight and engineering transport, typically with a load capacity of over 14 tons [2] - The power system consists of four core modules: fuel cell stack, high-pressure hydrogen storage system, power battery pack, and efficient electric drive system, ensuring both power demand and energy efficiency [3] Technical Advantages - Fuel cell heavy trucks can achieve a range of 500-1,000 kilometers on a single hydrogen fill, significantly surpassing the 200-400 kilometers range of current electric heavy trucks [3][4] - Refueling takes only 5-15 minutes, compared to 1-3 hours for electric trucks, providing a substantial efficiency advantage [4] - The energy density of hydrogen (120 MJ/kg) allows for better load capacity compared to lithium batteries (0.5 MJ/kg), making fuel cell trucks more suitable for heavy-duty applications [3][4] Industry Chain - The fuel cell heavy truck industry chain in China has formed a relatively complete upstream, midstream, and downstream collaborative development pattern [6] - Upstream focuses on hydrogen supply, including hydrogen production, storage, and refueling station construction, while midstream centers on key equipment manufacturing [6] - Downstream applications are primarily driven by demonstration projects in logistics and mining, supported by policies promoting commercialization [6] Cost Structure - The cost structure of fuel cell heavy trucks shows that the fuel cell system accounts for 53% of the total cost, with hydrogen storage systems making up 14%, leading to a purchase price 2-2.5 times that of diesel trucks [8] - Current hydrogen fuel costs are 30%-50% higher per kilometer compared to diesel, but significant cost reductions are expected by 2025-2027 [8] Market Development - The fuel cell vehicle market in China is characterized by policy-driven growth, with a significant focus on commercial vehicles [10] - Despite a temporary decline in production and sales in 2024, the industry has maintained a strong long-term growth momentum with annual compound growth rates of over 30% since 2016 [10][12] Competitive Landscape - The competitive landscape is transitioning from fragmented competition to a more concentrated market, with major players like Yutong and Dongfeng leading the market [19][21] - The market share of leading companies is significant, with the top three accounting for over 47% of the total market [19] Future Trends - The fuel cell heavy truck market is expected to experience rapid growth driven by technological advancements, expanded application scenarios, and supportive policies [23] - Key trends include significant cost reductions in fuel cell systems, expansion into new application areas such as long-haul logistics, and improved infrastructure for hydrogen refueling stations [24][25]

Core Viewpoint - The article discusses the rapid growth and potential of the new energy heavy truck (NEHT) industry, highlighting its technological advancements, market dynamics, and supportive government policies that are driving the transition towards greener transportation solutions [3][4][7]. Industry Definition - New energy heavy trucks are defined as heavy-duty trucks powered by new energy technologies, including pure electric, fuel cell, and hybrid models, which contribute to reduced carbon emissions and environmental pollution [3]. - The main technological routes for NEHT include Battery Electric Vehicles (BEV), Fuel Cell Electric Vehicles (FCEV), and Hybrid Electric Vehicles (HEV/PHEV) [3]. Market Performance - In the first ten months of 2024, NEHT sales reached 57,074 units, with a market penetration rate of 7.6%, representing a year-on-year growth of over 140%. The total sales for the year are expected to exceed 70,000 units, with a penetration rate projected to surpass 8% [4]. Industry Chain - The NEHT industry chain consists of upstream key component suppliers, midstream vehicle manufacturers, and downstream application and operation sectors, all of which collaborate to promote the industry's scale and marketization [4][6]. - Upstream components include power batteries, fuel cell systems, motors, and control systems, with power batteries being the most significant cost component for pure electric trucks [5]. - Major vehicle manufacturers include BYD, SANY Heavy Industry, XCMG, Dongfeng Commercial Vehicle, and others, which are developing various NEHT models based on market demand and policy guidance [5]. Infrastructure and Applications - The promotion of NEHTs relies heavily on the development of charging and hydrogen refueling infrastructure, with companies like State Grid and Sinopec actively investing in this area [6]. - Logistics companies such as SF Express and JD Logistics are adopting NEHTs to enhance operational efficiency and reduce costs [6]. Government Policies - In 2024, various government initiatives were launched to support the NEHT industry, including road rights prioritization, financial subsidies, and toll fee discounts for new energy trucks [7]. - The Ministry of Transport and other departments have issued plans to accelerate the replacement of older diesel trucks with new energy models, offering subsidies of up to 140,000 RMB for purchasing NEHTs [7]. Financing Trends - The number of financing events related to NEHTs peaked in 2022 but has since declined, indicating a cautious investment environment influenced by market demand and technological advancements [7][13]. Key Companies - Haipote Technology focuses on hydrogen fuel cell commercial vehicle solutions and has established a comprehensive ecosystem for hydrogen fuel cell vehicle development [8]. - DeepWay is dedicated to applying autonomous driving technology in heavy trucks, with significant funding rounds completed to support its innovations [17]. Recent Developments - In March 2025, Didi Delivery partnered with remote and Weiyou Technology to enhance operational efficiency for freight drivers [21]. - CATL is collaborating with Jinmao Smart Transportation to upgrade the NEHT refueling system [22]. - The first batch of 200kW hydrogen fuel cell heavy trucks was launched in China, marking a significant step in commercializing high-power hydrogen fuel cell trucks [22][23].