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Global Growth Opportunities for Fuel Cell Trucks

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New York, July 20, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Global Fuel Cell Trucks Growth Opportunities” – https://www.reportlinker.com/p06106068/?utm_source=GNW

Commercial vehicles are currently among the major emitters of carbon, with a very high emission rate per unit and, therefore, significantly focus on the competence of the regulator for a faster and smoother transition. Countries around the world are taking important and organized steps to reduce carbon emissions in the direction of a transition to a carbon neutral economy, which is reflected in the high standards of allowed automobile emission limits and the increase continues to levels of rigor over the past few years.

As the margin for improving diesel powertrain performance narrows, OEMs are forced to invest heavily in vehicle technology and the development of alternative powertrain solutions. Battery and fuel cell electric powertrains are the two main areas of development for manufacturers around the world for all mobility applications. Hydrogen is emerging as a key energy source for better managing and storing excess electricity generated by sustainable energy production methods such as solar and wind power. Currently, almost all of the hydrogen in the world is produced from fossil fuels. Green hydrogen is a long-term alternative that generates hydrogen only from zero-emission renewable resources. Green hydrogen is very well accepted by society and is recognized as the best potential route to sustainable energy and zero emission energy use in hydrogen energy scenarios, but it remains costly to l ‘actual hour. Conventional carbon capture, storage and use (CCSU) technologies will remain the production route in the short to medium term due to the relative cost advantages. Investments and activities to explore the production of low or zero carbon hydrogen will have strong consequences and impact on the achievement of hydrogen ambitions and will also influence the timely uptake of the market. The observed global trend is the exponential increase in the annual budget for hydrogen research, production and application as countries recognize hydrogen as a potential route to carbon neutrality. Cost competitiveness will determine to what extent hydrogen plays a role in accelerating the trend. Profitable, low-carbon production is the primary goal of most countries. The development of hydrogen fuel cells for mobility applications is gaining momentum, and given the various initiatives by the public and private sectors to propel hydrogen mobility, there are immense growth opportunities around the world for fuel cell trucks. The propulsion of fuel cell trucks will be driven largely by the incentives available to fleets, particularly during the initial transition period, to alleviate the pressures of high vehicle costs, infrastructure and the price of fuel. hydrogen. Attractive incentive programs are needed to motivate fleets to adopt fuel cell trucks. Overall, the mobility industry is at a crossroads in making critical decisions and strategic choices to ensure long-term growth and sustainability. Technology leadership, financial prowess and a robust supply chain are essential to be competitive in emerging market opportunities. Manufacturers, suppliers and relevant ecosystem participants are faced with the goal of establishing technological advancements, infrastructure footprint and profitability to enable commercial scale deployment of battery-powered trucks. combustible. One of the main obstacles to the transition to fuel cell trucks is, among other things, the lack of sufficient refueling infrastructure and the limitation of hydrogen storage on board. Trucks currently in service offer only limited range as companies strive to push the boundaries of current limitations. Governments around the world are engaging with leading companies, research institutes and materials laboratories to explore the potential of fuel cell trucks while providing financial support, technology advice and dedicated testing facilities. Modularity of the platform is imperative given the limited transition period, to enable companies to achieve economies of scale on a global scale. Currently, several medium and heavy fuel cell trucks in the testing phase have been released in limited numbers, with more models in the development phase and targets to begin testing and commercialization on a large scale. Companies are striving to overcome the barriers that limit the performance of fuel cell trucks and achieve product measures that will position fuel cell trucks with battery electric solutions. Companies are expanding into new markets through direct ventures or partnerships, with a very high rate of collaborations and joint ventures between historical participants, powertrain companies, Tier 1 suppliers and infrastructure in recent years. Supply chain readiness will be vital for manufacturers to increase production volumes when market demand for fuel cell trucks increases. As companies receive overall emission reduction targets from their fleet, they will be forced to offer zero emission trucks as a viable solution for customers. With fuel cell trucks being a potential solution for long-haul applications, companies need to accelerate technology choices and product development processes, and validate vehicle performance early.
Read the full report: https://www.reportlinker.com/p06106068/?utm_source=GNW

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