The H2-ICE market is projected to grow to 36,300-36,400 units by 2035, at a CAGR of 49.0% from 2031 to 2035. The factors driving the demand for the H2-ICE market are the growing push towards sustainable & emission-free transportation and OEM’s focus on R&D investments. Hydrogen engines can use the existing refueling infrastructure with a few modifications. Also, the infrastructure developed for FCEVs can be utilized by H2-ICE vehicles. H2-ICE vehicles use cryogenic tanks for hydrogen engines, which are in the development stages from the component providers. Additionally, H2-ICE technology is based on existing internal combustion engines; hence, the upfront cost of H2-ICE technology is lower than that of other propulsion types like BEV and fuel cells. During the vehicle’s lifecycle, H2-ICE emits less NOx and other pollutants, which will drive the adoption of H2-ICE.
The construction & mining equipment segment is expected to lead the H2-ICE market for off-highway vehicles during the forecast period
The construction & mining equipment segment is projected to lead the H2-ICE market for off-highway vehicles during the forecast period. The market growth is likely to be seen more in Europe and Asia Pacific than in other regions due to the added infrastructural developments in these regions. Crawler excavators and backhoe loaders are expected to have a noteworthy share of the construction & mining equipment segment. OEMs working for hydrogen engines for these equipment types are JCB (UK), HD Hyundai Infracore (South Korea), and Liebherr (Switzerland). JCB is developing a backhoe loader powered by H2-ICE. HD Hyundai Infracore is developing an engine for its construction and mining equipment. Liebherr (Switzerland) is developing two hydrogen engines, H966 and H964, equipped with the company's off-highway equipment.
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High-pressure direct injection (HPDI) is projected to be the fastest-growing combustion approach segment of the H2-ICE market during the forecast period.
High-pressure direct injection (HPDI) is projected to be the fastest-growing combustion approach. HPDI offers enhanced control of the hydrogen injection process, resulting in improved combustion efficiency and superior engine performance compared to PFI-SI and ECDI-SI approaches. It is suitable for off-highway applications as it can achieve higher power outputs. Cummins Inc. (US), AB Volvo (Sweden), and Liebherr (Switzerland) are working on HPDI. The combustion cycle achieved by using HPDI is similar to that of diesel engines so that it can produce equal or greater torque than other technologies. Due to the higher power requirements of the HPDI approach, larger and more efficient components like high-pressure injectors and large turbochargers are required, which makes HPDI costlier than other combustion approaches. However, as technology becomes mature and Tier-1 players and component providers begin to get ROI, the costs of these components are expected to decline.
“Europe holds the largest market share during the forecast period.”
Europe is estimated to have the largest market share in the H2ICE market during the forecast period. Europe’s market dominance is mainly attributed to stringent greenhouse gas emission regulations. The European Union has set various targets to decarbonize their commercial vehicles. The European region has a presence in major automotive OEMs and engine manufacturers working on the H2-ICE technology, such as AB Volvo (Sweden), MAN (Germany), JCB (UK), KEYOU GmbH (Germany), and Liebherr (Switzerland). AB Volvo started the development of H2-ICE in 2024. The engine is expected to enter road tests by 2026, and the commercial launch is expected by 2030. MAN is developing hydrogen engines for commercial vehicles; the company plans to deliver the first 200 hydrogen engines to its European customers by 2025. JCB has begun the on-road tests of its hydrogen engine in the UK and plans to commercialize it soon. KEYOU GmbH has already supplied trucks with hydrogen engines to European fleet operators. Thus, the presence of key OEMs and the European Union’s stringent emission rules will drive the market for H2-ICE in Europe.
Key Market Players:
The major players in the H2-ICE market are Cummins Inc. (US), J C Bamford Excavators (UK), Ashok Leyland (India), MAN (Germany), and HD Hyundai Infracore (South Korea).
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