Hydrogen Truck Market Report 2026

The hydrogen truck market size has grown exponentially in recent years. It will grow from $3.42 billion in 2025 to $4.45 billion in 2026 at a compound annual growth rate (CAGR) of 30.2%. The growth in the historic period can be attributed to diesel emission concerns, early hydrogen truck pilots, government clean freight programs, rising freight volumes, fuel cell technology advancements.

The hydrogen truck market size is expected to see exponential growth in the next few years. It will grow to $12.85 billion in 2030 at a compound annual growth rate (CAGR) of 30.4%. The growth in the forecast period can be attributed to stringent emission regulations, growth of green logistics, hydrogen cost reduction, expansion of refueling infrastructure, fleet decarbonization commitments. Major trends in the forecast period include growing deployment of hydrogen long haul trucks, rising adoption in heavy duty freight transport, expansion of hydrogen refueling corridors, increasing focus on zero emission logistics, integration of advanced fuel cell powertrains.

The rising demand for clean freight transportation is expected to drive the growth of the hydrogen truck market going forward. Clean freight transportation refers to environmentally friendly methods and technologies for moving goods, aimed at reducing the carbon footprint and harmful emissions of traditional freight systems. This includes electric, hydrogen-powered, or hybrid vehicles, as well as alternative fuels like biofuels or natural gas. Demand for clean freight is increasing due to heightened awareness of the environmental and health impacts of diesel-powered trucks. Hydrogen trucks address this demand by offering an eco-friendly, efficient alternative, powered by hydrogen fuel cells that emit only water vapor, eliminating harmful greenhouse gas emissions. For instance, in April 2025, according to the Department for Transport, a UK-based government department, transport in 2023 accounted for 49% of NOx emissions, 26% of PM2.5 emissions, and 20% of PM10 emissions, a 1 percentage point increase from 2022. Therefore, the growing need for clean freight transportation is boosting the hydrogen truck market.

Major companies in the hydrogen truck market are focusing on innovative products, such as hydrogen-powered trucks, to enhance sustainability in freight transport. These vehicles feature zero-emission fuel cell technology and are designed to reduce carbon footprints while maintaining logistics efficiency. For instance, in February 2025, the BMW Group, a Germany-based automotive manufacturer, launched its first hydrogen-powered trucks for regular operations under the European H2Haul project. The trucks offer quick refueling and extended range, serving as a complement to electric trucks for long-distance transport. Unlike battery-electric trucks, hydrogen trucks operate without an extensive charging network, providing greater logistical flexibility. BMW deployed two IVECO S-eWay Fuel Cell trucks in Germany as part of a 16-truck European fleet supported by a clean hydrogen partnership to advance zero-emission freight transport.

In August 2025, Hyroad Energy, a US-based hydrogen-powered fleet services company, acquired the hydrogen fuel-cell-related assets of Nikola Corporation for $3.85 million. This acquisition gives Hyroad Energy immediate access to 113 Class 8 hydrogen fuel-cell trucks, spare parts, software platforms, operational infrastructure, and intellectual property, enabling rapid expansion of its zero-emission fleet and accelerating the deployment of hydrogen-powered heavy-duty freight services. Nikola Corporation is a US-based manufacturer specializing in hydrogen fuel-cell and battery-electric heavy trucks and related zero-emission vehicle technologies.

Major companies operating in the hydrogen truck market report include Toyota (GB) PLC, Hyundai Motor Company, Daimler Truck AG, AB Volvo, PACCAR Inc, Nikola Corporation, Hyzon Motors Inc, Tevva Motors, H2X Global Limited, Symbio One, Renault Trucks Corporate, Beiqi Foton Motor, Dongfeng Motor Company, Great Wall Motor Company Ltd, Iveco, MAN Truck & Bus AG, Scania AB, Hino Motors Ltd, Xiamen King Long International Trading Co Ltd, Ballard Power Systems, Cummins.

Asia-Pacific was the largest region in the hydrogen truck market in 2025. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the hydrogen truck market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hydrogen truck market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The hydrogen truck market consists of sales of hydrogen-powered semi-trucks, hydrogen refrigerated trucks, and hydrogen-powered pickup trucks. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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