Hydrogen IC Engines Market by State (Gas and Liquid), Application (Transportation and Power Generation), Power Rating (Low, Medium, and High), Blending (Mix Blend and Pure Hydrogen) and Region - Global Forecast to 2035
The global hydrogen IC engines market is estimated to grow from USD 12 million in 2024 to USD 327 million by 2035; it is expected to record a CAGR of 34.7% during the forecast period. Hydrogen internal combustion engines (ICEs) are gaining traction as a potential alternative to traditional fossil-fuel engines and even to battery electric vehicles (EVs), driving the demand for hydrogen IC engines infrastructure.
“Liquid”: The fastest growing segment of the Hydrogen IC Engines market, by state “
Based on state, the hydrogen IC engines market has been segmented into gas and liquid. The liquid segment is expected to be the fastest-growing segment during the forecast period. Recent advancements in the production and storage of liquid hydrogen are significantly enhancing its viability as a fuel option for internal combustion engines (IC engines). These improvements span several key areas, including cost reductions, increased efficiency, and technological innovations, making hydrogen a more practical and attractive alternative to traditional fossil fuels.
“By power rating, the medium segment is expected to be the fastest growing segment during the forecast period.”
Based on power rating, the hydrogen IC engines market is segmented into low, medium and high. The medium segment is expected to be the fastest-growing segment of the hydrogen IC engines market during the forecast period. Industries such as shipping, heavy-duty transport, and stationary power generation are looking for sustainable alternatives to diesel and natural gas engines. Hydrogen ICEs provide a feasible option due to their similar operational characteristics.
“Asia Pacific” is expected to be the largest region in the Hydrogen IC Engines market.”
Asia pacific is expected to be the largest region in the hydrogen IC engines market during the forecast period. The rapid economic growth and urbanization in the Asia-Pacific region are boosting the demand for clean and efficient transportation solutions, creating a substantial market opportunity for hydrogen IC engines. Governments in the Asia Pacific region are increasingly implementing policies and providing incentives to promote the adoption of hydrogen technology. Countries like Japan and South Korea have set ambitious hydrogen roadmaps, offering subsidies and tax incentives for hydrogen-powered vehicles and infrastructure development.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3- 11%
By Designation: C-Level- 30%, Director Level- 25%, and Others- 45%
By Region: North America- 20%, Europe- 25%, Asia Pacific- 30%, ROW-25%
Note: Others include sales managers, engineers, and regional managers.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2022. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
The hydrogen IC engines market is dominated by a few major players that have a wide regional presence. The leading players in the hydrogen IC engines market are Wдrtsilд (Finland), GARRETT MOTION INC. (Switzerland), BeHydro (Belgium), DEUTZ AG (Germany), MAN Energy Solutions (Germany). The major strategy adopted by the players includes new product launches, contracts, agreements, partnerships, joint ventures, acquisitions, and investments & expansions.
Research Coverage:
The report defines, describes, and forecasts the global hydrogen IC engines Market based on state, power rating, application, blending and region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the hydrogen IC engines market.
Key Benefits of Buying the Report
“Liquid”: The fastest growing segment of the Hydrogen IC Engines market, by state “
Based on state, the hydrogen IC engines market has been segmented into gas and liquid. The liquid segment is expected to be the fastest-growing segment during the forecast period. Recent advancements in the production and storage of liquid hydrogen are significantly enhancing its viability as a fuel option for internal combustion engines (IC engines). These improvements span several key areas, including cost reductions, increased efficiency, and technological innovations, making hydrogen a more practical and attractive alternative to traditional fossil fuels.
“By power rating, the medium segment is expected to be the fastest growing segment during the forecast period.”
Based on power rating, the hydrogen IC engines market is segmented into low, medium and high. The medium segment is expected to be the fastest-growing segment of the hydrogen IC engines market during the forecast period. Industries such as shipping, heavy-duty transport, and stationary power generation are looking for sustainable alternatives to diesel and natural gas engines. Hydrogen ICEs provide a feasible option due to their similar operational characteristics.
“Asia Pacific” is expected to be the largest region in the Hydrogen IC Engines market.”
Asia pacific is expected to be the largest region in the hydrogen IC engines market during the forecast period. The rapid economic growth and urbanization in the Asia-Pacific region are boosting the demand for clean and efficient transportation solutions, creating a substantial market opportunity for hydrogen IC engines. Governments in the Asia Pacific region are increasingly implementing policies and providing incentives to promote the adoption of hydrogen technology. Countries like Japan and South Korea have set ambitious hydrogen roadmaps, offering subsidies and tax incentives for hydrogen-powered vehicles and infrastructure development.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3- 11%
By Designation: C-Level- 30%, Director Level- 25%, and Others- 45%
By Region: North America- 20%, Europe- 25%, Asia Pacific- 30%, ROW-25%
Note: Others include sales managers, engineers, and regional managers.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2022. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
The hydrogen IC engines market is dominated by a few major players that have a wide regional presence. The leading players in the hydrogen IC engines market are Wдrtsilд (Finland), GARRETT MOTION INC. (Switzerland), BeHydro (Belgium), DEUTZ AG (Germany), MAN Energy Solutions (Germany). The major strategy adopted by the players includes new product launches, contracts, agreements, partnerships, joint ventures, acquisitions, and investments & expansions.
Research Coverage:
The report defines, describes, and forecasts the global hydrogen IC engines Market based on state, power rating, application, blending and region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the hydrogen IC engines market.
Key Benefits of Buying the Report
- Government initiatives at the national and international levels amplify the impact of investment on the hydrogen IC engines market. Robust policy frameworks, often accompanied by financial incentives, subsidies, and regulatory support, encourage widespread adoption of hydrogen IC engines. Factors such as high initial cost and lack of infrastructure restrain the growth of the market. The growing energy transition towards renewable energy sources and rapid urbanization are expected to present lucrative opportunities for the players operating in the hydrogen IC engines.
- Product Development/ Innovation: The hydrogen IC engines market is witnessing significant product development and innovation, driven by the growing demand for environmentally friendly, safe and sustainable products. Companies are investing in developing advanced hydrogen IC engines technologies for various applications.
- Market Development: DEUTZ AG and RheinEnergie AG have partnered to initiate a pilot project focused on generating power using a stationary hydrogen engine. The objective is to utilize this engine to drive a generator capable of producing 170 kilovolt-amperes of electricity. The trial will take place at RheinEnergie's cogeneration plant in Cologne-Niehl, where RheinEnergie is responsible for sourcing the hydrogen and ensuring its supply. Initially, the two partners plan to invest a combined total of approximately USD 1.54 million in the trial operation at the Niehl facility.
- Market Diversification: Wдrtsilд has entered into a partnership with energy firms EPV Energy and Vaasan Sдhkц to develop a hydrogen engine power plant. This collaboration presents a significant opportunity to explore Power-to-X-to-Power solutions. Extensive research will be conducted on various future fuels and engine technologies to expedite progress towards a cleaner environment. Additionally, both hydrogen production and storage capacities can be expanded in the future.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, like include Wдrtsilд (Finland), GARRETT MOTION INC. (Switzerland), BeHydro (Belgium), DEUTZ AG (Germany), MAN Energy Solutions (Germany), among others in the hydrogen IC engines market.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 HYDROGEN IC ENGINES MARKET SEGMENTATION
1.3.2 REGIONAL SCOPE
FIGURE 2 HYDROGEN IC ENGINES MARKET SEGMENTATION, BY REGION
1.3.3 YEARS CONSIDERED
FIGURE 3 STUDY PERIOD CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 RESEARCH LIMITATIONS
1.6 STAKEHOLDERS
1.7 RECESSION IMPACT
2 RESEARCH METHODOLOGY
2.1 RESEARCH APPROACH
FIGURE 4 HYDROGEN IC ENGINES MARKET: RESEARCH DESIGN
2.2 PRIMARY AND SECONDARY RESEARCH
2.2.1 SECONDARY DATA
2.2.1.1 List of key secondary sources
TABLE 1 LIST OF KEY SECONDARY SOURCES
2.2.1.2 Key data from secondary sources
FIGURE 5 KEY DATA FROM SECONDARY SOURCES
2.2.2 PRIMARY DATA
2.2.2.1 List of primary interview participants
TABLE 2 LIST OF PRIMARY INTERVIEW PARTICIPANTS
2.2.2.2 Key data from primary sources
FIGURE 6 KEY DATA FROM PRIMARY SOURCES
2.2.2.3 Breakdown of primaries
FIGURE 7 BREAKDOWN OF PRIMARY SOURCES, BY COMPANY TYPE, DESIGNATION, AND REGION
2.3 MARKET SIZE ESTIMATION METHODOLOGY
2.3.1 BOTTOM-UP APPROACH
FIGURE 8 HYDROGEN IC ENGINES MARKET: BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
FIGURE 9 HYDROGEN IC ENGINES MARKET: TOP-DOWN APPROACH
2.3.3 DEMAND-SIDE ANALYSIS
FIGURE 10 METRICS CONSIDERED TO ANALYZE AND ASSESS DEMAND FOR HYDROGEN IC ENGINES
2.3.3.1 Assumptions for demand-side analysis
2.3.3.2 Calculations for demand-side analysis
2.3.4 SUPPLY-SIDE ANALYSIS
FIGURE 11 KEY METRICS CONSIDERED TO ASSESS SUPPLY OF HYDROGEN IC ENGINES
2.3.4.1 Assumptions for supply-side analysis
2.3.4.2 Calculations for supply-side analysis
2.4 FORECAST
2.5 DATA TRIANGULATION
FIGURE 12 DATA TRIANGULATION
2.6 RISK ASSESSMENT
2.7 RECESSION IMPACT
3 EXECUTIVE SUMMARY
TABLE 3 HYDROGEN IC ENGINES MARKET SNAPSHOT
FIGURE 13 EUROPE ACCOUNTED FOR LARGEST SHARE OF HYDROGEN IC ENGINES MARKET IN 2023
FIGURE 14 LOW RATING HYDROGEN IC ENGINES TO DOMINATE MARKET THROUGH 2035
FIGURE 15 LIQUID HYDROGEN IC ENGINES TO ACCOUNT FOR SIGNIFICANT SHARE OF MARKET THROUGH 2035
FIGURE 16 TRANSPORTATION APPLICATION TO DOMINATE HYDROGEN IC ENGINES MARKET THROUGH 2035
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HYDROGEN IC ENGINES MARKET
FIGURE 17 INVESTMENT IN HYDROGEN INFRASTRUCTURE TO DRIVE MARKET DURING FORECAST PERIOD
4.2 HYDROGEN IC ENGINES MARKET, BY REGION
FIGURE 18 NORTH AMERICA TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
4.3 HYDROGEN IC ENGINES MARKET, BY STATE
FIGURE 19 LIQUID SEGMENT DOMINATED MARKET IN 2023
4.4 HYDROGEN IC ENGINES MARKET, BY POWER RATING
FIGURE 20 LOW POWER RATING WAS LARGEST SEGMENT IN 2023
4.5 HYDROGEN IC ENGINES MARKET, BY APPLICATION
FIGURE 21 TRANSPORTATION APPLICATION ACCOUNTED FOR LION’S SHARE IN 2023
4.6 ASIA PACIFIC: HYDROGEN IC ENGINES MARKET, BY STATE & APPLICATION
FIGURE 22 LIQUID AND TRANSPORTATION ACCOUNTED FOR LARGEST SEGMENTAL SHARES IN 2023
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 23 HYDROGEN IC ENGINES MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Potential for long range and fast refueling
5.2.1.2 Growing Investments and government policies
FIGURE 24 POTENTIAL DEMAND AND PRODUCTION TARGETS FOR LOW-EMISSION HYDROGEN, BY SECTOR, 2030 (METRIC TON)
5.2.2 RESTRAINTS
5.2.2.1 Safety concerns regarding flammability
5.2.3 OPPORTUNITIES
5.2.3.1 Continuous technological advancements
5.2.3.2 Growing consumer interest
5.2.4 CHALLENGES
5.2.4.1 Competition from electric and fuel cell vehicles
5.2.4.2 Challenge in storing and distributing hydrogen safely and efficiently
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
FIGURE 25 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
5.4 PRICING ANALYSIS (QUALITATIVE)
5.5 SUPPLY CHAIN ANALYSIS
FIGURE 26 HYDROGEN IC ENGINES MARKET: SUPPLY CHAIN ANALYSIS
5.5.1 MANUFACTURERS
5.5.2 DISTRIBUTORS
5.5.3 END USERS
5.6 ECOSYSTEM
TABLE 4 COMPANIES AND THEIR ROLES IN HYDROGEN IC ENGINES MARKET ECOSYSTEM
FIGURE 27 ECOSYSTEM ANALYSIS
5.7 TECHNOLOGY ANALYSIS
5.7.1 KEY TECHNOLOGIES
5.7.1.1 Fuel cell stack
5.7.1.2 Hydrogen management
5.7.1.3 Power electronics
5.7.2 COMPLEMENTARY TECHNOLOGIES
5.7.2.1 Renewable energy sources
5.7.2.2 Electrolyzers
5.7.2.3 Battery storage
5.7.3 ADJACENT TECHNOLOGIES
5.7.3.1 Solid-state hydrogen storage
5.7.3.2 High-temperature superconductors
5.7.3.3 Ammonia engines
5.8 CASE STUDY ANALYSIS
5.8.1 EVOLUTION OF HYDROGEN TECHNOLOGY IN HEAVY-DUTY TRANSPORTATION
5.8.2 TUPY PARTNERED WITH AVL AND WESTPORT IN QUEST FOR ZERO-EMISSION SOLUTIONS
5.8.3 HYDROGEN-POWERED MINE TRUCK FOR ANGLO AMERICAN MINE
5.9 PATENT ANALYSIS
FIGURE 28 HYDROGEN IC ENGINES MARKET: INNOVATIONS AND PATENT REGISTRATIONS, 2013–2023
5.9.1 LIST OF KEY PATENTS
TABLE 5 HYDROGEN IC ENGINES MARKET: INNOVATIONS AND PATENT REGISTRATIONS, 2019–2023
5.10 TRADE ANALYSIS
5.10.1 EXPORT SCENARIO
TABLE 6 EXPORT DATA FOR HS CODE 280410, BY COUNTRY, 2021–2023 (USD THOUSAND)
FIGURE 29 EXPORT DATA FOR HS CODE 280410 FOR TOP FIVE COUNTRIES, 2021–2023 (USD THOUSAND)
5.10.2 IMPORT SCENARIO
TABLE 7 IMPORT DATA FOR HS CODE 280410, BY COUNTRY, 2021–2023 (USD THOUSAND)
FIGURE 30 IMPORT DATA FOR HS CODE 280410 FOR TOP FIVE COUNTRIES, 2021–2023 (USD THOUSAND)
5.11 KEY CONFERENCES AND EVENTS
TABLE 8 HYDROGEN IC ENGINES MARKET: LIST OF KEY CONFERENCES AND EVENTS, 2023–2024
5.12 REGULATORY LANDSCAPE
5.12.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 9 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 10 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 11 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 12 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.12.2 REGULATORY FRAMEWORK
TABLE 13 HYDROGEN IC ENGINES MARKET: REGULATIONS
5.13 PORTER’S FIVE FORCES ANALYSIS
FIGURE 31 HYDROGEN IC ENGINES MARKET: PORTER’S FIVE FORCES ANALYSIS
TABLE 14 HYDROGEN IC ENGINES MARKET: PORTER’S FIVE FORCES ANALYSIS
5.13.1 THREAT OF SUBSTITUTES
5.13.2 BARGAINING POWER OF SUPPLIERS
5.13.3 BARGAINING POWER OF BUYERS
5.13.4 THREAT OF NEW ENTRANTS
5.13.5 INTENSITY OF COMPETITIVE RIVALRY
5.14 KEY STAKEHOLDERS AND BUYING CRITERIA
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 32 INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION
TABLE 15 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION
5.14.2 BUYING CRITERIA
FIGURE 33 KEY BUYING CRITERIA, BY POWER RATING
TABLE 16 KEY BUYING CRITERIA, BY POWER RATING
5.15 INVESTMENT AND FUNDING SCENARIO
FIGURE 34 INVESTMENT AND FUNDING SCENARIO (USD MILLION)
6 HYDROGEN IC ENGINES MARKET, BY BLENDING
6.1 INTRODUCTION
6.2 MIX BLEND
6.3 PURE HYDROGEN
7 HYDROGEN IC ENGINES MARKET, BY STATE
7.1 INTRODUCTION
FIGURE 35 HYDROGEN IC ENGINES MARKET SHARE, BY STATE, 2023
TABLE 17 HYDROGEN IC ENGINES MARKET, BY STATE, 2023–2035 (USD MILLION)
7.2 GAS
7.2.1 INCREASE IN HYDROGEN REFUELING STATIONS DESIGNED FOR GASEOUS HYDROGEN TO ENCOURAGE ADOPTION
TABLE 18 GASEOUS HYDROGEN IC ENGINES MARKET, BY REGION, 2023–2035 (USD MILLION)
7.3 LIQUID
7.3.1 ADVANCES IN CRYOGENIC TECHNOLOGY IMPROVED FEASIBILITY OF STORING LIQUID HYDROGEN SAFELY AND EFFICIENTLY
TABLE 19 LIQUID HYDROGEN IC ENGINES MARKET, BY REGION, 2023–2035 (USD MILLION)
8 HYDROGEN IC ENGINES MARKET, BY POWER RATING
8.1 INTRODUCTION
FIGURE 36 HYDROGEN IC ENGINES MARKET SHARE, BY POWER RATING, 2023
TABLE 20 HYDROGEN IC ENGINES MARKET, BY POWER RATING, 2023–2035 (USD MILLION)
8.2 LOW
8.2.1 SMOOTH POWER DELIVERY, WELL-SUITED FOR LOW-POWER APPLICATIONS
TABLE 21 LOW-POWER HYDROGEN IC ENGINES MARKET, BY REGION, 2023–2035 (USD MILLION)
8.3 MEDIUM
8.3.1 INVESTMENTS IN HYDROGEN INFRASTRUCTURE DEVELOPMENT AND INITIATIVES TOWARD BUILDING EXTENSIVE NETWORK
TABLE 22 MEDIUM-POWER HYDROGEN IC ENGINES MARKET, BY REGION, 2023–2035 (USD MILLION)
8.4 HIGH
8.4.1 INVESTMENT BY PROMINENT ENGINE MANUFACTURERS AND ENERGY COMPANIES
TABLE 23 HIGH-POWER HYDROGEN IC ENGINES MARKET, BY REGION, 2023–2035 (USD MILLION)
9 HYDROGEN IC ENGINES MARKET, BY APPLICATION
9.1 INTRODUCTION
FIGURE 37 HYDROGEN IC ENGINES MARKET SHARE, BY APPLICATION, 2023
TABLE 24 HYDROGEN IC ENGINES MARKET, BY APPLICATION, 2023–2035 (USD MILLION)
9.2 TRANSPORTATION
9.2.1 ENVIRONMENTAL REGULATIONS ADVOCATING FOR CLEANER TRANSPORTATION SOLUTIONS
TABLE 25 HYDROGEN IC ENGINES MARKET IN TRANSPORTATION, BY REGION, 2023–2035 (USD MILLION)
9.3 POWER GENERATION
9.3.1 KEY DRIVERS IN POWER GENERATION: GRID BALANCING AND PEAK POWER DEMANDS
TABLE 26 HYDROGEN IC ENGINES MARKET IN POWER GENERATION, BY REGION, 2023–2035 (USD MILLION)
10 HYDROGEN IC ENGINES MARKET, BY REGION
10.1 INTRODUCTION
FIGURE 38 HYDROGEN IC ENGINES MARKET IN NORTH AMERICA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 39 HYDROGEN IC ENGINES MARKET SHARE, BY REGION, 2023
TABLE 27 HYDROGEN IC ENGINES MARKET, BY REGION, 2023–2035 (USD MILLION)
10.2 ASIA PACIFIC
FIGURE 40 ASIA PACIFIC: REGIONAL SNAPSHOT, 2023
10.2.1 ASIA PACIFIC: RECESSION IMPACT
TABLE 28 ASIA PACIFIC: HYDROGEN IC ENGINES MARKET, BY STATE, 2023–2035 (USD MILLION)
TABLE 29 ASIA PACIFIC: HYDROGEN IC ENGINES MARKET, BY POWER RATING, 2023–2035 (USD MILLION)
TABLE 30 ASIA PACIFIC: HYDROGEN IC ENGINES MARKET, BY APPLICATION, 2023–2035 (USD MILLION)
10.2.2 CHINA
10.2.2.1 Largest market for evs; focus on innovations in HICE
10.2.3 INDIA
10.2.3.1 Oems working toward goals set by National Green Hydrogen Mission
10.2.4 JAPAN
10.2.4.1 Policies mandating plans supporting non-fossil fuel-powered vehicles, with focus on trucks and passenger cars
10.2.5 REST OF ASIA PACIFIC
10.3 EUROPE
FIGURE 41 EUROPE: REGIONAL SNAPSHOT, 2023
10.3.1 EUROPE: RECESSION IMPACT
TABLE 31 EUROPE: HYDROGEN IC ENGINES MARKET, BY STATE, 2023–2035 (USD MILLION)
TABLE 32 EUROPE: HYDROGEN IC ENGINES MARKET, BY POWER RATING, 2023–2035 (USD MILLION)
TABLE 33 EUROPE: HYDROGEN IC ENGINES MARKET, BY APPLICATION, 2023–2035 (USD MILLION)
10.3.2 GERMANY
10.3.2.1 Rapid refueling advantage of hydrogen IC engine trucks
10.3.3 UK
10.3.3.1 HICE vehicles to reshape UK maritime landscape
10.3.4 NORWAY
10.3.4.1 Norway’s commitment to green mobility aligning with global shifts
10.3.5 FRANCE
10.3.5.1 France’s strategic move toward affordable hydrogen cars
10.3.6 ITALY
10.3.6.1 Increase in public awareness and acceptance of hydrogen as clean and sustainable energy source
10.3.7 REST OF EUROPE
10.4 NORTH AMERICA
10.4.1 NORTH AMERICA: RECESSION IMPACT
TABLE 34 NORTH AMERICA: HYDROGEN IC ENGINES MARKET, BY STATE, 2023–2035 (USD MILLION)
TABLE 35 NORTH AMERICA: HYDROGEN IC ENGINES MARKET, BY POWER RATING, 2023–2035 (USD MILLION)
TABLE 36 NORTH AMERICA: HYDROGEN IC ENGINES MARKET, BY APPLICATION, 2023–2035 (USD MILLION)
10.4.2 US
10.4.2.1 Addressing concerns about emissions in heavy-duty transportation with regulations
10.4.3 CANADA
10.4.3.1 Potential for scalable hydrogen production methods
10.5 REST OF THE WORLD (ROW)
10.5.1 ROW: RECESSION IMPACT
TABLE 37 ROW: HYDROGEN IC ENGINES MARKET, BY STATE, 2023–2035 (USD MILLION)
TABLE 38 ROW: HYDROGEN IC ENGINES MARKET, BY POWER RATING, 2023–2035 (USD MILLION)
TABLE 39 ROW: HYDROGEN IC ENGINES MARKET, BY APPLICATION, 2023–2035 (USD MILLION)
10.5.2 SOUTH AMERICA
10.5.2.1 Potential for easy recycling and reuse of components in hydrogen IC engines
10.5.3 MIDDLE EAST & AFRICA
10.5.3.1 Projects and initiatives aligning with vision for hydrogen export
11 COMPETITIVE LANDSCAPE
11.1 OVERVIEW
11.2 STRATEGIES ADOPTED BY KEY PLAYERS
TABLE 40 HYDROGEN IC ENGINE MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, 2019–2024
11.3 INDUSTRY CONCENTRATION, 2023
FIGURE 42 INDUSTRY CONCENTRATION OF PLAYERS IN HYDROGEN IC ENGINE MARKET, 2023
11.4 MARKET EVALUATION FRAMEWORK
TABLE 41 MARKET EVALUATION FRAMEWORK, 2019–2023
11.5 SEGMENTAL REVENUE ANALYSIS OF TOP MARKET PLAYERS
FIGURE 43 HYDROGEN IC ENGINE MARKET: SEGMENTAL REVENUE ANALYSIS, 2019–2023 (USD MILLION)
11.6 COMPANY VALUATION AND FINANCIAL METRICS
FIGURE 44 COMPANY VALUATION, 2024 (USD MILLION)
FIGURE 45 EV/EBITDA, 2024
11.7 BRAND/PRODUCT COMPARISON
FIGURE 46 BRAND/PRODUCT COMPARISON
11.8 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
11.8.1 STARS
11.8.2 EMERGING LEADERS
11.8.3 PERVASIVE PLAYERS
11.8.4 PARTICIPANTS
FIGURE 47 HYDROGEN IC ENGINE MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS) 2023
11.8.5 COMPANY FOOTPRINT, KEY PLAYERS, 2023
11.8.5.1 Company footprint
FIGURE 48 HYDROGEN IC ENGINE: PRODUCT FOOTPRINT, 2023
FIGURE 49 HYDROGEN IC ENGINE: MARKET FOOTPRINT, 2023
11.8.5.2 Regional footprint
TABLE 42 HYDROGEN IC ENGINE MARKET: REGIONAL FOOTPRINT, 2023
11.8.5.3 State footprint
TABLE 43 HYDROGEN IC ENGINE MARKET: STATE FOOTPRINT, 2023
11.8.5.4 Application footprint
TABLE 44 HYDROGEN IC ENGINE MARKET: APPLICATION FOOTPRINT, 2023
11.8.5.5 Power rating footprint
TABLE 45 HYDROGEN IC ENGINE MARKET: POWER RATING FOOTPRINT, 2023
11.9 COMPETITIVE BENCHMARKING: KEY PLAYERS, 2023
11.9.1 LIST OF KEY PLAYERS
TABLE 46 HYDROGEN IC ENGINE MARKET: KEY PLAYERS, 2023
11.9.2 COMPETITIVE BENCHMARKING OF KEY PLAYERS
TABLE 47 HYDROGEN IC ENGINE: KEY PLAYERS, 2023
11.10 COMPETITIVE SCENARIOS AND TRENDS
11.10.1 PRODUCT LAUNCHES
TABLE 48 HYDROGEN IC ENGINE MARKET: PRODUCT LAUNCHES, JANUARY 2019–MARCH 2024
11.10.2 DEALS
TABLE 49 HYDROGEN IC ENGINE MARKET: DEALS, JANUARY 2019–MARCH 2024
11.10.3 OTHER DEVELOPMENTS
TABLE 50 HYDROGEN IC ENGINE MARKET: EXPANSIONS, JANUARY 2019–MARCH 2024
TABLE 51 HYDROGEN IC ENGINE MARKET: OTHERS, JANUARY 2019–MARCH 2024
12 COMPANY PROFILES
12.1 KEY PLAYERS
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
12.1.1 WДRTSILД
TABLE 52 WДRTSILД: BUSINESS OVERVIEW
FIGURE 50 WДRTSILД: COMPANY SNAPSHOT
TABLE 53 WДRTSILД: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 54 WДRTSILД: PRODUCT LAUNCHES
TABLE 55 WДRTSILД: DEALS
12.1.2 GARRETT MOTION INC.
TABLE 56 GARRETT MOTION INC.: BUSINESS OVERVIEW
FIGURE 51 GARRETT MOTION INC.: COMPANY SNAPSHOT
TABLE 57 GARRETT MOTION INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 58 GARRETT MOTION INC.: PRODUCT LAUNCHES
12.1.3 BEHYDRO
TABLE 59 BEHYRDO: BUSINESS OVERVIEW
TABLE 60 BEHYRDO: PRODUCTS SOLUTIONS/SERVICES OFFERED
TABLE 61 BEHYRDO: PRODUCT LAUNCHES
12.1.4 DEUTZ AG
TABLE 62 DEUTZ AG: BUSINESS OVERVIEW
FIGURE 52 DEUTZ AG: COMPANY SNAPSHOT
TABLE 63 DEUTZ AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 64 DEUTZ AG: PRODUCT LAUNCHES
TABLE 65 DEUTZ AG: DEALS
TABLE 66 DEUTZ AG: OTHERS
12.1.5 MAN ENERGY SOLUTIONS
TABLE 67 MAN ENERGY SOLUTIONS: BUSINESS OVERVIEW
TABLE 68 MAN ENERGY SOLUTIONS: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 69 MAN ENERGY SOLUTIONS: PRODUCT LAUNCHES
TABLE 70 MAN ENERGY SOLUTIONS: DEALS
12.1.6 CUMMINS INC.
TABLE 71 CUMMINS INC.: BUSINESS OVERVIEW
FIGURE 53 CUMMINS INC.: COMPANY SNAPSHOT
TABLE 72 CUMMINS INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 73 CUMMINS INC.: PRODUCT LAUNCHES
TABLE 74 CUMMINS INC.: DEALS
TABLE 75 CUMMINS INC.: EXPANSIONS
TABLE 76 CUMMINS INC.: OTHERS
12.1.7 KAWASAKI HEAVY INDUSTRIES, LTD.
TABLE 77 KAWASAKI HEAVY INDUSTRIES, LTD.: BUSINESS OVERVIEW
FIGURE 54 KAWASAKI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT
TABLE 78 KAWASAKI HEAVY INDUSTRIES, LTD.: PRODUCTS/SOLUTIONS/
SERVICES OFFERED
TABLE 79 KAWASAKI HEAVY INDUSTRIES, LTD.: PRODUCT LAUNCHES
TABLE 80 KAWASAKI HEAVY INDUSTRIES, LTD.: DEALS
TABLE 81 KAWASAKI HEAVY INDUSTRIES, LTD.: OTHERS
12.1.8 TOYOTA MOTOR CORPORATION
TABLE 82 TOYOTA MOTOR CORPORATION: BUSINESS OVERVIEW
FIGURE 55 TOYOTA MOTOR CORPORATION: COMPANY SNAPSHOT
TABLE 83 TOYOTA MOTOR CORPORATION: PRODUCTS/SOLUTIONS/
SERVICES OFFERED
TABLE 84 TOYOTA MOTOR CORPORATION: DEALS
12.1.9 MAZDA MOTOR CORPORATION
TABLE 85 MAZDA MOTOR CORPORATION: BUSINESS OVERVIEW
FIGURE 56 MAZDA MOTOR CORPORATION: COMPANY SNAPSHOT
TABLE 86 MAZDA MOTOR CORPORATION: PRODUCTS/SOLUTIONS/
SERVICES OFFERED
12.1.10 RELIANCE INDUSTRIES LIMITED
TABLE 87 RELIANCE INDUSTRIES LIMITED: BUSINESS OVERVIEW
FIGURE 57 RELIANCE INDUSTRIES LIMITED: COMPANY SNAPSHOT
TABLE 88 RELIANCE INDUSTRIES LIMITED: PRODUCTS/SOLUTIONS/
SERVICES OFFERED
TABLE 89 RELIANCE INDUSTRIES LIMITED: PRODUCT LAUNCHES
12.1.11 AVL
TABLE 90 AVL: BUSINESS OVERVIEW
TABLE 91 AVL: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 92 AVL: PRODUCT LAUNCHES
TABLE 93 AVL: DEALS
12.1.12 AB VOLVO PENTA
TABLE 94 AB VOLVO PENTA: BUSINESS OVERVIEW
TABLE 95 AB VOLVO PENTA: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 96 AB VOLVO PENTA: DEALS
12.1.13 FAW JIEFANG AUTOMOTIVE CO.,LTD
TABLE 97 FAW JIEFANG AUTOMOTIVE CO., LTD: BUSINESS OVERVIEW
TABLE 98 FAW JIEFANG AUTOMOTIVE CO., LTD: PRODUCTS/SOLUTIONS/SERVICES OFFERED
12.1.14 KOHLER ENERGY
TABLE 99 KOHLER ENERGY: BUSINESS OVERVIEW
TABLE 100 KOHLER ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 101 KOHLER ENERGY: PRODUCT LAUNCHES
12.1.15 J C BAMFORD EXCAVATORS LTD
TABLE 102 J C BAMFORD EXCAVATORS LTD: BUSINESS OVERVIEW
TABLE 103 J C BAMFORD EXCAVATORS LTD: PRODUCTS SOLUTIONS/SERVICES OFFERED
TABLE 104 J C BAMFORD EXCAVATORS LTD: OTHERS
12.2 OTHER PLAYERS (PRODUCT UNDER DEVELOPMENT)
12.2.1 LIEBHERR GROUP
TABLE 105 LIEBHERR GROUP: BUSINESS OVERVIEW
TABLE 106 LIEBHERR GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 107 LIEBHERR GROUP: PRODUCT LAUNCHES
12.2.2 ROBERT BOSCH GMBH
TABLE 108 ROBERT BOSCH GMBH: BUSINESS OVERVIEW
TABLE 109 ROBERT BOSCH GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 110 ROBERT BOSCH GMBH: PRODUCT LAUNCHES
12.2.3 YANMAR HOLDINGS CO., LTD.
TABLE 111 YANMAR HOLDINGS CO., LTD.: BUSINESS OVERVIEW
TABLE 112 YANMAR HOLDINGS CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 113 YANMAR HOLDINGS CO., LTD.: PRODUCT LAUNCHES
12.2.4 KEYOU GMBH
TABLE 114 KEYOU GMBH: BUSINESS OVERVIEW
TABLE 115 KEYOU GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 116 KEYOU GMBH: PRODUCT LAUNCHES
TABLE 117 KEYOU GMBH: DEALS
12.2.5 MITSUBISHI HEAVY INDUSTRIES, LTD.
TABLE 118 MITSUBISHI HEAVY INDUSTRIES, LTD.: BUSINESS OVERVIEW
FIGURE 58 MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT
TABLE 119 MITSUBISHI HEAVY INDUSTRIES, LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 120 MITSUBISHI HEAVY INDUSTRIES, LTD.: PRODUCT LAUNCHES
12.2.6 ROLLS-ROYCE PLC
TABLE 121 ROLLS-ROYCE PLC: BUSINESS OVERVIEW
FIGURE 59 ROLLS-ROYCE PLC: COMPANY SNAPSHOT
TABLE 122 ROLLS-ROYCE PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 123 ROLLS-ROYCE PLC: PRODUCT LAUNCHES
TABLE 124 ROLLS-ROYCE PLC: DEALS
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
13 APPENDIX
13.1 INSIGHTS OF INDUSTRY EXPERTS
13.2 DISCUSSION GUIDE
13.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.4 RELATED REPORTS
13.5 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 HYDROGEN IC ENGINES MARKET SEGMENTATION
1.3.2 REGIONAL SCOPE
FIGURE 2 HYDROGEN IC ENGINES MARKET SEGMENTATION, BY REGION
1.3.3 YEARS CONSIDERED
FIGURE 3 STUDY PERIOD CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 RESEARCH LIMITATIONS
1.6 STAKEHOLDERS
1.7 RECESSION IMPACT
2 RESEARCH METHODOLOGY
2.1 RESEARCH APPROACH
FIGURE 4 HYDROGEN IC ENGINES MARKET: RESEARCH DESIGN
2.2 PRIMARY AND SECONDARY RESEARCH
2.2.1 SECONDARY DATA
2.2.1.1 List of key secondary sources
TABLE 1 LIST OF KEY SECONDARY SOURCES
2.2.1.2 Key data from secondary sources
FIGURE 5 KEY DATA FROM SECONDARY SOURCES
2.2.2 PRIMARY DATA
2.2.2.1 List of primary interview participants
TABLE 2 LIST OF PRIMARY INTERVIEW PARTICIPANTS
2.2.2.2 Key data from primary sources
FIGURE 6 KEY DATA FROM PRIMARY SOURCES
2.2.2.3 Breakdown of primaries
FIGURE 7 BREAKDOWN OF PRIMARY SOURCES, BY COMPANY TYPE, DESIGNATION, AND REGION
2.3 MARKET SIZE ESTIMATION METHODOLOGY
2.3.1 BOTTOM-UP APPROACH
FIGURE 8 HYDROGEN IC ENGINES MARKET: BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
FIGURE 9 HYDROGEN IC ENGINES MARKET: TOP-DOWN APPROACH
2.3.3 DEMAND-SIDE ANALYSIS
FIGURE 10 METRICS CONSIDERED TO ANALYZE AND ASSESS DEMAND FOR HYDROGEN IC ENGINES
2.3.3.1 Assumptions for demand-side analysis
2.3.3.2 Calculations for demand-side analysis
2.3.4 SUPPLY-SIDE ANALYSIS
FIGURE 11 KEY METRICS CONSIDERED TO ASSESS SUPPLY OF HYDROGEN IC ENGINES
2.3.4.1 Assumptions for supply-side analysis
2.3.4.2 Calculations for supply-side analysis
2.4 FORECAST
2.5 DATA TRIANGULATION
FIGURE 12 DATA TRIANGULATION
2.6 RISK ASSESSMENT
2.7 RECESSION IMPACT
3 EXECUTIVE SUMMARY
TABLE 3 HYDROGEN IC ENGINES MARKET SNAPSHOT
FIGURE 13 EUROPE ACCOUNTED FOR LARGEST SHARE OF HYDROGEN IC ENGINES MARKET IN 2023
FIGURE 14 LOW RATING HYDROGEN IC ENGINES TO DOMINATE MARKET THROUGH 2035
FIGURE 15 LIQUID HYDROGEN IC ENGINES TO ACCOUNT FOR SIGNIFICANT SHARE OF MARKET THROUGH 2035
FIGURE 16 TRANSPORTATION APPLICATION TO DOMINATE HYDROGEN IC ENGINES MARKET THROUGH 2035
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HYDROGEN IC ENGINES MARKET
FIGURE 17 INVESTMENT IN HYDROGEN INFRASTRUCTURE TO DRIVE MARKET DURING FORECAST PERIOD
4.2 HYDROGEN IC ENGINES MARKET, BY REGION
FIGURE 18 NORTH AMERICA TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
4.3 HYDROGEN IC ENGINES MARKET, BY STATE
FIGURE 19 LIQUID SEGMENT DOMINATED MARKET IN 2023
4.4 HYDROGEN IC ENGINES MARKET, BY POWER RATING
FIGURE 20 LOW POWER RATING WAS LARGEST SEGMENT IN 2023
4.5 HYDROGEN IC ENGINES MARKET, BY APPLICATION
FIGURE 21 TRANSPORTATION APPLICATION ACCOUNTED FOR LION’S SHARE IN 2023
4.6 ASIA PACIFIC: HYDROGEN IC ENGINES MARKET, BY STATE & APPLICATION
FIGURE 22 LIQUID AND TRANSPORTATION ACCOUNTED FOR LARGEST SEGMENTAL SHARES IN 2023
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 23 HYDROGEN IC ENGINES MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Potential for long range and fast refueling
5.2.1.2 Growing Investments and government policies
FIGURE 24 POTENTIAL DEMAND AND PRODUCTION TARGETS FOR LOW-EMISSION HYDROGEN, BY SECTOR, 2030 (METRIC TON)
5.2.2 RESTRAINTS
5.2.2.1 Safety concerns regarding flammability
5.2.3 OPPORTUNITIES
5.2.3.1 Continuous technological advancements
5.2.3.2 Growing consumer interest
5.2.4 CHALLENGES
5.2.4.1 Competition from electric and fuel cell vehicles
5.2.4.2 Challenge in storing and distributing hydrogen safely and efficiently
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
FIGURE 25 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
5.4 PRICING ANALYSIS (QUALITATIVE)
5.5 SUPPLY CHAIN ANALYSIS
FIGURE 26 HYDROGEN IC ENGINES MARKET: SUPPLY CHAIN ANALYSIS
5.5.1 MANUFACTURERS
5.5.2 DISTRIBUTORS
5.5.3 END USERS
5.6 ECOSYSTEM
TABLE 4 COMPANIES AND THEIR ROLES IN HYDROGEN IC ENGINES MARKET ECOSYSTEM
FIGURE 27 ECOSYSTEM ANALYSIS
5.7 TECHNOLOGY ANALYSIS
5.7.1 KEY TECHNOLOGIES
5.7.1.1 Fuel cell stack
5.7.1.2 Hydrogen management
5.7.1.3 Power electronics
5.7.2 COMPLEMENTARY TECHNOLOGIES
5.7.2.1 Renewable energy sources
5.7.2.2 Electrolyzers
5.7.2.3 Battery storage
5.7.3 ADJACENT TECHNOLOGIES
5.7.3.1 Solid-state hydrogen storage
5.7.3.2 High-temperature superconductors
5.7.3.3 Ammonia engines
5.8 CASE STUDY ANALYSIS
5.8.1 EVOLUTION OF HYDROGEN TECHNOLOGY IN HEAVY-DUTY TRANSPORTATION
5.8.2 TUPY PARTNERED WITH AVL AND WESTPORT IN QUEST FOR ZERO-EMISSION SOLUTIONS
5.8.3 HYDROGEN-POWERED MINE TRUCK FOR ANGLO AMERICAN MINE
5.9 PATENT ANALYSIS
FIGURE 28 HYDROGEN IC ENGINES MARKET: INNOVATIONS AND PATENT REGISTRATIONS, 2013–2023
5.9.1 LIST OF KEY PATENTS
TABLE 5 HYDROGEN IC ENGINES MARKET: INNOVATIONS AND PATENT REGISTRATIONS, 2019–2023
5.10 TRADE ANALYSIS
5.10.1 EXPORT SCENARIO
TABLE 6 EXPORT DATA FOR HS CODE 280410, BY COUNTRY, 2021–2023 (USD THOUSAND)
FIGURE 29 EXPORT DATA FOR HS CODE 280410 FOR TOP FIVE COUNTRIES, 2021–2023 (USD THOUSAND)
5.10.2 IMPORT SCENARIO
TABLE 7 IMPORT DATA FOR HS CODE 280410, BY COUNTRY, 2021–2023 (USD THOUSAND)
FIGURE 30 IMPORT DATA FOR HS CODE 280410 FOR TOP FIVE COUNTRIES, 2021–2023 (USD THOUSAND)
5.11 KEY CONFERENCES AND EVENTS
TABLE 8 HYDROGEN IC ENGINES MARKET: LIST OF KEY CONFERENCES AND EVENTS, 2023–2024
5.12 REGULATORY LANDSCAPE
5.12.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 9 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 10 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 11 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 12 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.12.2 REGULATORY FRAMEWORK
TABLE 13 HYDROGEN IC ENGINES MARKET: REGULATIONS
5.13 PORTER’S FIVE FORCES ANALYSIS
FIGURE 31 HYDROGEN IC ENGINES MARKET: PORTER’S FIVE FORCES ANALYSIS
TABLE 14 HYDROGEN IC ENGINES MARKET: PORTER’S FIVE FORCES ANALYSIS
5.13.1 THREAT OF SUBSTITUTES
5.13.2 BARGAINING POWER OF SUPPLIERS
5.13.3 BARGAINING POWER OF BUYERS
5.13.4 THREAT OF NEW ENTRANTS
5.13.5 INTENSITY OF COMPETITIVE RIVALRY
5.14 KEY STAKEHOLDERS AND BUYING CRITERIA
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 32 INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION
TABLE 15 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY APPLICATION
5.14.2 BUYING CRITERIA
FIGURE 33 KEY BUYING CRITERIA, BY POWER RATING
TABLE 16 KEY BUYING CRITERIA, BY POWER RATING
5.15 INVESTMENT AND FUNDING SCENARIO
FIGURE 34 INVESTMENT AND FUNDING SCENARIO (USD MILLION)
6 HYDROGEN IC ENGINES MARKET, BY BLENDING
6.1 INTRODUCTION
6.2 MIX BLEND
6.3 PURE HYDROGEN
7 HYDROGEN IC ENGINES MARKET, BY STATE
7.1 INTRODUCTION
FIGURE 35 HYDROGEN IC ENGINES MARKET SHARE, BY STATE, 2023
TABLE 17 HYDROGEN IC ENGINES MARKET, BY STATE, 2023–2035 (USD MILLION)
7.2 GAS
7.2.1 INCREASE IN HYDROGEN REFUELING STATIONS DESIGNED FOR GASEOUS HYDROGEN TO ENCOURAGE ADOPTION
TABLE 18 GASEOUS HYDROGEN IC ENGINES MARKET, BY REGION, 2023–2035 (USD MILLION)
7.3 LIQUID
7.3.1 ADVANCES IN CRYOGENIC TECHNOLOGY IMPROVED FEASIBILITY OF STORING LIQUID HYDROGEN SAFELY AND EFFICIENTLY
TABLE 19 LIQUID HYDROGEN IC ENGINES MARKET, BY REGION, 2023–2035 (USD MILLION)
8 HYDROGEN IC ENGINES MARKET, BY POWER RATING
8.1 INTRODUCTION
FIGURE 36 HYDROGEN IC ENGINES MARKET SHARE, BY POWER RATING, 2023
TABLE 20 HYDROGEN IC ENGINES MARKET, BY POWER RATING, 2023–2035 (USD MILLION)
8.2 LOW
8.2.1 SMOOTH POWER DELIVERY, WELL-SUITED FOR LOW-POWER APPLICATIONS
TABLE 21 LOW-POWER HYDROGEN IC ENGINES MARKET, BY REGION, 2023–2035 (USD MILLION)
8.3 MEDIUM
8.3.1 INVESTMENTS IN HYDROGEN INFRASTRUCTURE DEVELOPMENT AND INITIATIVES TOWARD BUILDING EXTENSIVE NETWORK
TABLE 22 MEDIUM-POWER HYDROGEN IC ENGINES MARKET, BY REGION, 2023–2035 (USD MILLION)
8.4 HIGH
8.4.1 INVESTMENT BY PROMINENT ENGINE MANUFACTURERS AND ENERGY COMPANIES
TABLE 23 HIGH-POWER HYDROGEN IC ENGINES MARKET, BY REGION, 2023–2035 (USD MILLION)
9 HYDROGEN IC ENGINES MARKET, BY APPLICATION
9.1 INTRODUCTION
FIGURE 37 HYDROGEN IC ENGINES MARKET SHARE, BY APPLICATION, 2023
TABLE 24 HYDROGEN IC ENGINES MARKET, BY APPLICATION, 2023–2035 (USD MILLION)
9.2 TRANSPORTATION
9.2.1 ENVIRONMENTAL REGULATIONS ADVOCATING FOR CLEANER TRANSPORTATION SOLUTIONS
TABLE 25 HYDROGEN IC ENGINES MARKET IN TRANSPORTATION, BY REGION, 2023–2035 (USD MILLION)
9.3 POWER GENERATION
9.3.1 KEY DRIVERS IN POWER GENERATION: GRID BALANCING AND PEAK POWER DEMANDS
TABLE 26 HYDROGEN IC ENGINES MARKET IN POWER GENERATION, BY REGION, 2023–2035 (USD MILLION)
10 HYDROGEN IC ENGINES MARKET, BY REGION
10.1 INTRODUCTION
FIGURE 38 HYDROGEN IC ENGINES MARKET IN NORTH AMERICA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 39 HYDROGEN IC ENGINES MARKET SHARE, BY REGION, 2023
TABLE 27 HYDROGEN IC ENGINES MARKET, BY REGION, 2023–2035 (USD MILLION)
10.2 ASIA PACIFIC
FIGURE 40 ASIA PACIFIC: REGIONAL SNAPSHOT, 2023
10.2.1 ASIA PACIFIC: RECESSION IMPACT
TABLE 28 ASIA PACIFIC: HYDROGEN IC ENGINES MARKET, BY STATE, 2023–2035 (USD MILLION)
TABLE 29 ASIA PACIFIC: HYDROGEN IC ENGINES MARKET, BY POWER RATING, 2023–2035 (USD MILLION)
TABLE 30 ASIA PACIFIC: HYDROGEN IC ENGINES MARKET, BY APPLICATION, 2023–2035 (USD MILLION)
10.2.2 CHINA
10.2.2.1 Largest market for evs; focus on innovations in HICE
10.2.3 INDIA
10.2.3.1 Oems working toward goals set by National Green Hydrogen Mission
10.2.4 JAPAN
10.2.4.1 Policies mandating plans supporting non-fossil fuel-powered vehicles, with focus on trucks and passenger cars
10.2.5 REST OF ASIA PACIFIC
10.3 EUROPE
FIGURE 41 EUROPE: REGIONAL SNAPSHOT, 2023
10.3.1 EUROPE: RECESSION IMPACT
TABLE 31 EUROPE: HYDROGEN IC ENGINES MARKET, BY STATE, 2023–2035 (USD MILLION)
TABLE 32 EUROPE: HYDROGEN IC ENGINES MARKET, BY POWER RATING, 2023–2035 (USD MILLION)
TABLE 33 EUROPE: HYDROGEN IC ENGINES MARKET, BY APPLICATION, 2023–2035 (USD MILLION)
10.3.2 GERMANY
10.3.2.1 Rapid refueling advantage of hydrogen IC engine trucks
10.3.3 UK
10.3.3.1 HICE vehicles to reshape UK maritime landscape
10.3.4 NORWAY
10.3.4.1 Norway’s commitment to green mobility aligning with global shifts
10.3.5 FRANCE
10.3.5.1 France’s strategic move toward affordable hydrogen cars
10.3.6 ITALY
10.3.6.1 Increase in public awareness and acceptance of hydrogen as clean and sustainable energy source
10.3.7 REST OF EUROPE
10.4 NORTH AMERICA
10.4.1 NORTH AMERICA: RECESSION IMPACT
TABLE 34 NORTH AMERICA: HYDROGEN IC ENGINES MARKET, BY STATE, 2023–2035 (USD MILLION)
TABLE 35 NORTH AMERICA: HYDROGEN IC ENGINES MARKET, BY POWER RATING, 2023–2035 (USD MILLION)
TABLE 36 NORTH AMERICA: HYDROGEN IC ENGINES MARKET, BY APPLICATION, 2023–2035 (USD MILLION)
10.4.2 US
10.4.2.1 Addressing concerns about emissions in heavy-duty transportation with regulations
10.4.3 CANADA
10.4.3.1 Potential for scalable hydrogen production methods
10.5 REST OF THE WORLD (ROW)
10.5.1 ROW: RECESSION IMPACT
TABLE 37 ROW: HYDROGEN IC ENGINES MARKET, BY STATE, 2023–2035 (USD MILLION)
TABLE 38 ROW: HYDROGEN IC ENGINES MARKET, BY POWER RATING, 2023–2035 (USD MILLION)
TABLE 39 ROW: HYDROGEN IC ENGINES MARKET, BY APPLICATION, 2023–2035 (USD MILLION)
10.5.2 SOUTH AMERICA
10.5.2.1 Potential for easy recycling and reuse of components in hydrogen IC engines
10.5.3 MIDDLE EAST & AFRICA
10.5.3.1 Projects and initiatives aligning with vision for hydrogen export
11 COMPETITIVE LANDSCAPE
11.1 OVERVIEW
11.2 STRATEGIES ADOPTED BY KEY PLAYERS
TABLE 40 HYDROGEN IC ENGINE MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, 2019–2024
11.3 INDUSTRY CONCENTRATION, 2023
FIGURE 42 INDUSTRY CONCENTRATION OF PLAYERS IN HYDROGEN IC ENGINE MARKET, 2023
11.4 MARKET EVALUATION FRAMEWORK
TABLE 41 MARKET EVALUATION FRAMEWORK, 2019–2023
11.5 SEGMENTAL REVENUE ANALYSIS OF TOP MARKET PLAYERS
FIGURE 43 HYDROGEN IC ENGINE MARKET: SEGMENTAL REVENUE ANALYSIS, 2019–2023 (USD MILLION)
11.6 COMPANY VALUATION AND FINANCIAL METRICS
FIGURE 44 COMPANY VALUATION, 2024 (USD MILLION)
FIGURE 45 EV/EBITDA, 2024
11.7 BRAND/PRODUCT COMPARISON
FIGURE 46 BRAND/PRODUCT COMPARISON
11.8 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
11.8.1 STARS
11.8.2 EMERGING LEADERS
11.8.3 PERVASIVE PLAYERS
11.8.4 PARTICIPANTS
FIGURE 47 HYDROGEN IC ENGINE MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS) 2023
11.8.5 COMPANY FOOTPRINT, KEY PLAYERS, 2023
11.8.5.1 Company footprint
FIGURE 48 HYDROGEN IC ENGINE: PRODUCT FOOTPRINT, 2023
FIGURE 49 HYDROGEN IC ENGINE: MARKET FOOTPRINT, 2023
11.8.5.2 Regional footprint
TABLE 42 HYDROGEN IC ENGINE MARKET: REGIONAL FOOTPRINT, 2023
11.8.5.3 State footprint
TABLE 43 HYDROGEN IC ENGINE MARKET: STATE FOOTPRINT, 2023
11.8.5.4 Application footprint
TABLE 44 HYDROGEN IC ENGINE MARKET: APPLICATION FOOTPRINT, 2023
11.8.5.5 Power rating footprint
TABLE 45 HYDROGEN IC ENGINE MARKET: POWER RATING FOOTPRINT, 2023
11.9 COMPETITIVE BENCHMARKING: KEY PLAYERS, 2023
11.9.1 LIST OF KEY PLAYERS
TABLE 46 HYDROGEN IC ENGINE MARKET: KEY PLAYERS, 2023
11.9.2 COMPETITIVE BENCHMARKING OF KEY PLAYERS
TABLE 47 HYDROGEN IC ENGINE: KEY PLAYERS, 2023
11.10 COMPETITIVE SCENARIOS AND TRENDS
11.10.1 PRODUCT LAUNCHES
TABLE 48 HYDROGEN IC ENGINE MARKET: PRODUCT LAUNCHES, JANUARY 2019–MARCH 2024
11.10.2 DEALS
TABLE 49 HYDROGEN IC ENGINE MARKET: DEALS, JANUARY 2019–MARCH 2024
11.10.3 OTHER DEVELOPMENTS
TABLE 50 HYDROGEN IC ENGINE MARKET: EXPANSIONS, JANUARY 2019–MARCH 2024
TABLE 51 HYDROGEN IC ENGINE MARKET: OTHERS, JANUARY 2019–MARCH 2024
12 COMPANY PROFILES
12.1 KEY PLAYERS
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
12.1.1 WДRTSILД
TABLE 52 WДRTSILД: BUSINESS OVERVIEW
FIGURE 50 WДRTSILД: COMPANY SNAPSHOT
TABLE 53 WДRTSILД: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 54 WДRTSILД: PRODUCT LAUNCHES
TABLE 55 WДRTSILД: DEALS
12.1.2 GARRETT MOTION INC.
TABLE 56 GARRETT MOTION INC.: BUSINESS OVERVIEW
FIGURE 51 GARRETT MOTION INC.: COMPANY SNAPSHOT
TABLE 57 GARRETT MOTION INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 58 GARRETT MOTION INC.: PRODUCT LAUNCHES
12.1.3 BEHYDRO
TABLE 59 BEHYRDO: BUSINESS OVERVIEW
TABLE 60 BEHYRDO: PRODUCTS SOLUTIONS/SERVICES OFFERED
TABLE 61 BEHYRDO: PRODUCT LAUNCHES
12.1.4 DEUTZ AG
TABLE 62 DEUTZ AG: BUSINESS OVERVIEW
FIGURE 52 DEUTZ AG: COMPANY SNAPSHOT
TABLE 63 DEUTZ AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 64 DEUTZ AG: PRODUCT LAUNCHES
TABLE 65 DEUTZ AG: DEALS
TABLE 66 DEUTZ AG: OTHERS
12.1.5 MAN ENERGY SOLUTIONS
TABLE 67 MAN ENERGY SOLUTIONS: BUSINESS OVERVIEW
TABLE 68 MAN ENERGY SOLUTIONS: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 69 MAN ENERGY SOLUTIONS: PRODUCT LAUNCHES
TABLE 70 MAN ENERGY SOLUTIONS: DEALS
12.1.6 CUMMINS INC.
TABLE 71 CUMMINS INC.: BUSINESS OVERVIEW
FIGURE 53 CUMMINS INC.: COMPANY SNAPSHOT
TABLE 72 CUMMINS INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 73 CUMMINS INC.: PRODUCT LAUNCHES
TABLE 74 CUMMINS INC.: DEALS
TABLE 75 CUMMINS INC.: EXPANSIONS
TABLE 76 CUMMINS INC.: OTHERS
12.1.7 KAWASAKI HEAVY INDUSTRIES, LTD.
TABLE 77 KAWASAKI HEAVY INDUSTRIES, LTD.: BUSINESS OVERVIEW
FIGURE 54 KAWASAKI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT
TABLE 78 KAWASAKI HEAVY INDUSTRIES, LTD.: PRODUCTS/SOLUTIONS/
SERVICES OFFERED
TABLE 79 KAWASAKI HEAVY INDUSTRIES, LTD.: PRODUCT LAUNCHES
TABLE 80 KAWASAKI HEAVY INDUSTRIES, LTD.: DEALS
TABLE 81 KAWASAKI HEAVY INDUSTRIES, LTD.: OTHERS
12.1.8 TOYOTA MOTOR CORPORATION
TABLE 82 TOYOTA MOTOR CORPORATION: BUSINESS OVERVIEW
FIGURE 55 TOYOTA MOTOR CORPORATION: COMPANY SNAPSHOT
TABLE 83 TOYOTA MOTOR CORPORATION: PRODUCTS/SOLUTIONS/
SERVICES OFFERED
TABLE 84 TOYOTA MOTOR CORPORATION: DEALS
12.1.9 MAZDA MOTOR CORPORATION
TABLE 85 MAZDA MOTOR CORPORATION: BUSINESS OVERVIEW
FIGURE 56 MAZDA MOTOR CORPORATION: COMPANY SNAPSHOT
TABLE 86 MAZDA MOTOR CORPORATION: PRODUCTS/SOLUTIONS/
SERVICES OFFERED
12.1.10 RELIANCE INDUSTRIES LIMITED
TABLE 87 RELIANCE INDUSTRIES LIMITED: BUSINESS OVERVIEW
FIGURE 57 RELIANCE INDUSTRIES LIMITED: COMPANY SNAPSHOT
TABLE 88 RELIANCE INDUSTRIES LIMITED: PRODUCTS/SOLUTIONS/
SERVICES OFFERED
TABLE 89 RELIANCE INDUSTRIES LIMITED: PRODUCT LAUNCHES
12.1.11 AVL
TABLE 90 AVL: BUSINESS OVERVIEW
TABLE 91 AVL: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 92 AVL: PRODUCT LAUNCHES
TABLE 93 AVL: DEALS
12.1.12 AB VOLVO PENTA
TABLE 94 AB VOLVO PENTA: BUSINESS OVERVIEW
TABLE 95 AB VOLVO PENTA: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 96 AB VOLVO PENTA: DEALS
12.1.13 FAW JIEFANG AUTOMOTIVE CO.,LTD
TABLE 97 FAW JIEFANG AUTOMOTIVE CO., LTD: BUSINESS OVERVIEW
TABLE 98 FAW JIEFANG AUTOMOTIVE CO., LTD: PRODUCTS/SOLUTIONS/SERVICES OFFERED
12.1.14 KOHLER ENERGY
TABLE 99 KOHLER ENERGY: BUSINESS OVERVIEW
TABLE 100 KOHLER ENERGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 101 KOHLER ENERGY: PRODUCT LAUNCHES
12.1.15 J C BAMFORD EXCAVATORS LTD
TABLE 102 J C BAMFORD EXCAVATORS LTD: BUSINESS OVERVIEW
TABLE 103 J C BAMFORD EXCAVATORS LTD: PRODUCTS SOLUTIONS/SERVICES OFFERED
TABLE 104 J C BAMFORD EXCAVATORS LTD: OTHERS
12.2 OTHER PLAYERS (PRODUCT UNDER DEVELOPMENT)
12.2.1 LIEBHERR GROUP
TABLE 105 LIEBHERR GROUP: BUSINESS OVERVIEW
TABLE 106 LIEBHERR GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 107 LIEBHERR GROUP: PRODUCT LAUNCHES
12.2.2 ROBERT BOSCH GMBH
TABLE 108 ROBERT BOSCH GMBH: BUSINESS OVERVIEW
TABLE 109 ROBERT BOSCH GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 110 ROBERT BOSCH GMBH: PRODUCT LAUNCHES
12.2.3 YANMAR HOLDINGS CO., LTD.
TABLE 111 YANMAR HOLDINGS CO., LTD.: BUSINESS OVERVIEW
TABLE 112 YANMAR HOLDINGS CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 113 YANMAR HOLDINGS CO., LTD.: PRODUCT LAUNCHES
12.2.4 KEYOU GMBH
TABLE 114 KEYOU GMBH: BUSINESS OVERVIEW
TABLE 115 KEYOU GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 116 KEYOU GMBH: PRODUCT LAUNCHES
TABLE 117 KEYOU GMBH: DEALS
12.2.5 MITSUBISHI HEAVY INDUSTRIES, LTD.
TABLE 118 MITSUBISHI HEAVY INDUSTRIES, LTD.: BUSINESS OVERVIEW
FIGURE 58 MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT
TABLE 119 MITSUBISHI HEAVY INDUSTRIES, LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 120 MITSUBISHI HEAVY INDUSTRIES, LTD.: PRODUCT LAUNCHES
12.2.6 ROLLS-ROYCE PLC
TABLE 121 ROLLS-ROYCE PLC: BUSINESS OVERVIEW
FIGURE 59 ROLLS-ROYCE PLC: COMPANY SNAPSHOT
TABLE 122 ROLLS-ROYCE PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
TABLE 123 ROLLS-ROYCE PLC: PRODUCT LAUNCHES
TABLE 124 ROLLS-ROYCE PLC: DEALS
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
13 APPENDIX
13.1 INSIGHTS OF INDUSTRY EXPERTS
13.2 DISCUSSION GUIDE
13.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.4 RELATED REPORTS
13.5 AUTHOR DETAILS
