Several countries across the world have committed to climate change and reducing carbon emissions to save the environment. These initiatives have driven the automotive industry—one of the main carbon-emitting sectors—to focus on alternative powertrain solutions, such as fuel cell electric powertrains and battery-electric achieve zero-emission targets.
According to the recent analysis by Frost & Sullivan -Global Fuel Cell Trucks Growth Opportunities, the prospect of fuel cell trucks in hydrogen economies is intriguing to companies that pursue zero-emission mobility solutions.
The research paper finds that the global fuel cell truck market is estimated to register 142,858 unit sales by 2030, with China accounting for 63.9% of global sales. Regional governments and energy departments are encouraging fuel cell truck adoption through incentives, tax credits and funding. They also are availing demonstration project scenarios.
Jagadesh Chandran, Mobility Research Analyst, Frost & Sullivan, says Hydrogen is emerging as a promising substitute to fossil fuels. It is a cleaner and more environmentally friendly form of energy, which will most suitably serve long distance-travelling needs and segments that demand high uptime and availability.
To overcome the technological challenges, supply chain, infrastructure, and economic costs and in order to create a comprehensive hydrogen economy, the industry needs to hasten development to achieve economies of scale, he opined.
Opportunities for fuel cell trucks to grow in long-haul segments are evident when the industry transitions away from diesel engines. As a result, major manufacturers are engaged in fuel cell vehicle development through cross-company and cross-regional collaborations to synergize and leverage existing know-how in technology, production and supply chain capabilities, and industry positioning.
Transition strategies
Transport authorities and relevant companies are devising transition strategies and action plans to be competitive and maintain technology leadership.
The report identifies specific areas to explore for growth. It says that technological competence is vital to be competitive against battery-electric and diesel powertrains. Investing in research and development and validation programmes will help attain targeted system efficiencies through collaboration with technical research firms and government authorities.
Original equipment manufacturers (OEMs) will need to exhibit agile strategies to develop ecosystems that support the operation of fuel cell trucks through strategic partnerships and infrastructure development.
Besides, the OEMs need to map the positioning of fuel cell trucks against battery-electric trucks and define their sales strategy to propel growth in target segments, states the report.
Courtesy: Frost & Sullivan.