Hydrogen Truck Market Insights 2025: Size, Share, Trends & Strategic Forecast

30 Apr, 2025

The Hydrogen Truck Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.

What are the Historical Growth Trends in the Hydrogen Truck Market?

The market size of the hydrogen truck industry has seen substantial growth recently. The market size increased from $2.61 billion in 2024 to $3.44 billion in 2025, reflecting a compound annual growth rate (CAGR) of 31.8%.

What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Hydrogen Truck Industry?

The global market size for hydrogen trucks is projected to reach $10.29 billion in 2029, growing at a compound annual growth rate (CAGR) of 31.5%.

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What are the Key Growth Drivers Fueling the Hydrogen Truck Market?

The key drivers in the hydrogen truck market are:

• Growing stricter emissions regulations
• Increasing hydrogen production capacity
• Growing fleet electrification
• Rising investment in green hydrogen and cost reduction in fuel cells.

Global Market Segmentation: Identifying Major Hydrogen Truck Industry Segments

The hydrogen truck market covered in this report is segmented –
1) By Type: Light-Duty Trucks, Medium-Duty Trucks, Heavy-Duty Trucks
2) By Range: Short-Range, Medium-Range, Long-Range
3) By Hydrogen Tank Size: < 35 Kg, 35–60 Kg, > 50 Kg
4) By Motor Power: Up to 200 kW, 200–400 kW, Above 400 kW
5) By Application: Logistics, Industrial, Construction, Mining, Other Applications Subsegments:
1) By Light-Duty Trucks: Pickup Trucks, Small Delivery Trucks, Utility Trucks
2) By Medium-Duty Trucks: Box Trucks, Refrigerated Trucks, Flatbed Trucks
3) By Heavy-Duty Trucks: Long-Haul Trucks, Dump Trucks, Tow Trucks

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What are the emerging Trends Shaping the Future of the Hydrogen Truck Market?

The key trends in the hydrogen truck market are:

• The adoption of fuel cell technology is a significant emerging trend in the hydrogen truck market.
• The expansion of hydrogen refueling stations is shaping the future of this market.
• Partnerships for developing a broader hydrogen ecosystem are becoming increasingly popular.
• Technological advancements in hydrogen storage are also on the rise.

Who Are the Top Competitors & Leading Players in the Hydrogen Truck Market?

Major players in the hydrogen truck market are:

• Toyota (GB) PLC
• Hyundai Motor Company
• Daimler Truck AG
• AB Volvo
• PACCAR Inc
• Cummins Inc
• Great Wall Motor Company Ltd
• Dongfeng Motor Company
• XCMG Group
• SANY Group
• Beiqi Foton Motor
• Renault Trucks Corporate
• Xiamen King Long International Trading Co Ltd
• Ballard Power Systems
• Nikola Corporation
• Symbio one
• Tevva Motors
• H2X Global Limited
• Esoro AG
• Hyzon Motors Inc

Regional Dominance: Which Area Leads the Global Template Market?

Asia-Pacific was the largest region in the hydrogen truck market in 2024