Passenger cars accounted for 80% of hydrogen vehicle sales in 2022 — but that share is shrinking
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According to data from UK-based research firm Interact Analysis, passenger vehicles’ share of the global “on-highway” FCEV market (which excludes off-road vehicles such as forklift trucks or mining vehicles) has already shrunk from almost 90% in 2021, and the company expects it to shrink even further to around 41% by 2030.
The 2022 data — based on a mix of actual sales figures and Interact Analysis estimates — shows total sales of 18,892 brand new FCEVs for on-highway use delivered to customers globally.
Passenger vehicles’ market share of the wider on-highway market is consistently around 77%.
“Battery-electric vehicles make far more sense for passenger cars if you want to decarbonise,” he said.
By contrast, the market share for trucks of all sizes in the FCEV market is expected to grow from around 8% today to 46% by 2030 — surpassing passenger vehicles — while buses’ share will stay steady at around 11-12%.
The truck market has been “somewhat behind the curve” investing in fuel cell technology, Hayfield noted, adding that funding and development in the FCEV passenger vehicle segment vastly outstripped that in the truck market until relatively recently, especially in Asia.