Hydrogen Combustion Engine Market Set to Grow with High Probability Business Opportunity by 2031 – ManufactureLink
the hydrogen combustion engine market is estimated to project a CAGR of 8.7% during the forecast period. Hydrogen–combustion engines, usually the modified version of conventional gasoline–fueled combustion engines, require hydrogen for vehicle propulsion. These engines can take advantage of current technologies, offering zero–emissions solution for special applications while encouraging the growth of hydrogen infrastructure globally. In addition, many companies are investing in R&D to introduce efficient hydrogen–combustion engines for all types of vehicles, supporting the growth of the market globally. For example, in August 2021, Rio Tinto and Komatsu partnered for zero–emissions mining including hydrogen trucks.
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The hydrogen combustion engine is still in its infancy; however, the consequences of CO2 emissions in developed and emerging economies, such as the U.S. and China, encourage regulators to promote the adoption of hydrogen internal combustion engines. In Europe, the government has urged manufacturers to reduce CO2 emissions for new–about 30 highway trucks% from 2030. Likewise, the U.S. and China represented respective emission reduction targets. This, in turn, creates growth opportunities for domestic market players in the respective regions.
covid–19 Hydrogen Combustion Engine Market Impact
The spread of the new COVID–19 Severely Compressed Global Hydrogen–combustion engine market. Every market is uncertain in these times, with countries around the world suffering from the destabilizing effects of the pandemic. Like COVID–19 is spreading across the globe, governments around the world have issued orders to slow the transmission of the virus by imposing strict lockdown in various economies which has restricted vehicle activities, hampering market growth amid the pandemic. The post office–covid–19, although the full production capacity has not yet been reached, the market is expected to grow with high potential in the near future.
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Segmentation of the global hydrogen combustion engine market
The hydrogen combustion engine market has been segmented into technologies, applications and regions.
By technology Outlook (Sales, USD Million, 2017-2030)
- Proton membrane exchange
- Phosphoric acid fuel cell
By Outlook App (Sales, USD Million, 2017-2030)
- Tourism vehicle
- commercial vehicle
Outlook by Region (Sales, USD Million, 2017-2030)
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia Pacific)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA)
Proton exchange membrane accounts for the major share of the hydrogen combustion engine market
On the basis of technologies, the global hydrogen combustion engine market is segmented into proton membrane exchange, phosphoric acid fuel cell and others. To complete the electrochemical reaction, the proton exchange membrane plays a vital role which conducts protons from the anode to the cathode through the membrane. A hydrogen engine is fueled with hydrogen, which is oxidized at the anode, and oxygen, which is reduced at the cathode. Segment growth is expected to accelerate over the forecast period, supported by its rapidly increasing adoption globally. In addition, phosphoric acid fuel cells (PAFC) are fuel cells that use liquid phosphoric acid as the electrolyte. This is widely used owing to its stability, performance, and cost, contributing to the growth of the market over the forecast period.
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North America is expected to hold the largest market share during the forecast period
Based on the region, North America is estimated to account for the majority of the hydrogen combustion engine market over the forecast period. This is due to the increasing investment in R&D to develop innovative solutions, to meet the needs of end users. Additionally, US government initiatives towards sustainable sources are also fueling the market growth in the region.
Asia-Pacific region is expected to project the highest CAGR in the hydrogen combustion engine market during the forecast period. This is supported by the growing expansion in fuel prices of major market players in the region, propelling the growth of the market in the coming years.
Main market players
This research report contains a review of leading companies in the Hydrogen Combustion Engine market and their winning strategies, along with a study of their development and marketing strategies. It also includes profiles of major companies, such as Rio Tinto, Komatsu, Honda, Toyota, JCB, BMW, MAN and others. These market players have used various advanced methods or technologies to increase their market share or maintain their leadership.
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