• GLOBAL NEWS
Passenger cars , by far , make up the greatest share of the hydrogen vehicle market . In 2021 , almost 18 000 H2 units were sold , of which passenger cars accounted for nearly 90 %. Due to the lack of government incentives , as well as the shortage of refueling infrastructure and high price of hydrogen , the hydrogen vehicle market is in its infancy . South Korea leads the way for the hydrogen passenger car market , with America and Japan following behind . Up to 2025 , the market looks set to be dominated by passenger car sales , but from 2028 the hydrogen commercial vehicle market , in particular hydrogen trucks , is expected to outstrip the passenger car market .
Global news years . By 2030 , over 20 000 hydrogen forklifts are forecast to be shipped in China , double the figure for the US . Early developments are also being made in the hydrogen rail , maritime and aerospace markets , but developments will be limited this side of 2030 .
Graphs supplied Interact Analysis
The hydrogen market is currently dominated by passenger cars , but shipments of hydrogen trucks will overtake cars by 2030 .
China dominates the hydrogen commercial vehicle market , delivering over 2 000 units in 2021 . This is due to strong government support for hydrogen initiatives , with much of the emphasis on city buses and trucks . Europe is the second largest market , with Germany dominating the majority of the European market , followed by the US , which deployed over 60 fuel cell buses by the end of 2021 . Japan and South Korea first emerged in the hydrogen commercial vehicle market in 2017 and by 2021 both regions had delivered over 100 hydrogen commercial vehicles , respectively .
The hydrogen off-highway market is currently led by forklifts , but Interact Analysis is beginning to see some traction from larger vehicles , including haul and dump trucks , as well as excavators . North America is the largest market for hydrogen forklifts , with retail companies such as Walmart and Amazon being the main customers . Europe , Japan and China are also developing demonstration projects for hydrogen forklifts , but on a much smaller scale compared with North America . Government policies in China will increase China ’ s share in this market over the coming
Forklifts dominate the hydrogen off-highway market .
Marco Wang , research analyst at Interact Analysis says , “ Although the hydrogen vehicle market is very much in its infancy , some significant developments are being made . By 2030 the global market will look very different and much more consolidated .
“ The total cost of ownership of hydrogen vehicles currently makes them unfavourable compared with traditional diesel alternatives . But the cost competitiveness of fuel cell powertrains will improve substantially when the demand scales up . Hydrogen availability is also an issue . But the commitment and ongoing actions of government authorities dedicated to hydrogen infrastructure provides a positive look on the future . More importantly , we really need to decarbonise vehicles where a full battery has proven unfeasible and fuel cell technology is the exclusive zero emission solution for them .” •
About the Report : This new research focuses on hydrogen fuel cell vehicles and the opportunities for OEMs and system suppliers . The research consists of two Interact Analysis reports each providing insight , analysis , data and forecasts : the Hydrogen in Transport Applications and the Hydrogen Vehicle and Component Market reports . The vehicle report is available as an independent report , while the component report is only available for those who purchase both reports . To learn more , visit www . InteractAnalysis . com
8 • African Mining • May 2023 www . africanmining . co . za