Hydrogen Buses Market to Reach Valuation of USD 49.2 Billion by 2030 – Growth in the Usage of Environment-Friendly and Energy-Efficient Vehicles Drives the Market

In terms of revenue, the Global Hydrogen Buses Market is expected to reach USD 49.2 Billion by 2030, growing at a CAGR (Compound Annual Growth Rate) of 30.1% from 2023 to 2030.

Market expansion is projected to be fueled by the usage of environment-friendly and energy-efficient vehicles. About 12 to 14 percent of CO2 emissions come from diesel heavy trucks. Hydrogen Buses offer an excellent opportunity to eliminate traffic emissions in this sector. Transit buses are one of the superb transportation applications in fuel cell technology. Buses run in crowded areas where pollution is a problem. These buses are centrally located, fuel-efficient, highly visible, and government subsidized. By analyzing the experiences of these early adopters, the National Renewable Energy Laboratory (NREL) can determine the condition of bus fuel cell systems and learn lessons to help others deploy the next generation of these systems.

Hydrogen Buses have shorter refueling times and can cover longer distances. In addition, they have better maneuverability. The use of hydrogen in fuel cell buses makes the advantages of the technology self-evident, increasing people's comfort because they are significantly lighter than battery electric buses. The use of hydrogen in fuel cell buses makes the advantages of the technology self-evident, which increases people's comfort, and these vehicles gain more and more social acceptance. The ecosystem of hydrogen fuel cell cars is constantly expanding. According to government studies, zero emissions are responsible for developing hydrogen fuel cell buses in various countries.

Key Highlights from the Report

· Among Technology, the proton exchange membrane fuel is anticipated to dominate the Hydrogen Buses market with the largest market share in the forecast period due to suitable technological output.

· Hydrogen fuel cells with less than 150 kW capacity are used in passenger cars, buses, and industrial vehicles. The sales volume of fuel cells below 150 kW is higher and thus dominates worldwide in terms of power output.

· Regarding region, Asia Pacific held the most significant market share and is expected to be the most gainful market during the forecast period due to accommodative government policies.

Market Dynamics

Hydrogen-electric buses use hydrogen and air to generate electricity to power the buses. The only wastewater from the bus is water, so buses are a more environmentally friendly means of transportation. In comparison, one long-distance diesel bus produces 100 tons of CO2 emissions per year, and there are more than a million such buses in India and globally, which hurts the environment. Air quality is closely related to the Earth's climate and ecosystems worldwide. WHO data shows that nearly the entire world's population (99%) breathes air that exceeds and contains high levels of pollutants, with low & middle-income countries suffering the most from exposure.

Almost 99% of the world's population is exposed to levels of air pollution that increase the risk of several diseases, including stroke, heart disease, chronic obstructive pulmonary disease, cancer, and pneumonia. Considering these problems, the government is working on hydrogen-based vehicles. Moreover, the operating cost of hydrogen fuel cell buses is lower than that of diesel buses, and it can revolutionize freight transport in the country. The metro city could have bought Hydrogen Buses cheaper, and they calculated that the operating cost would be 0.92 EUR. ($1.07).) per kilometer for Hydrogen Buses, while EUR 0.17 ($0.18) per kilometer.

Also, hydrogen vehicles have a range similar to conventional diesel vehicles, with a range of 300-400 miles on a single gas tank, and can be refueled in 3-5 minutes. About 15 percent of CO2 emissions come from diesel heavy trucks. Therefore, Hydrogen Buses offer an excellent opportunity to eliminate traffic emissions in this sector. Transit buses are one of the best transportation applications in fuel cell technology. However, buses run in congested areas where pollution is a problem.

These buses are centrally located, fuel-efficient, highly visible, and government subsidized. By analyzing the experiences of these early adopters, the National Renewable Energy Laboratory (NREL) can determine the state of bus fuel cell systems and learn lessons to help others deploy the next generation of these systems. Automotive pioneer Toyota has announced plans to create an ultra-modern city powered by hydrogen fuel cells. That said, the city's company will be encountered at the foot of Mount Fuji, Japan, and the employee and their families, as well as the scientists and researchers, would be residents of the city. The requirement for hydrogen fuel cell vehicles is expected to grow due to increasing innovations that will reduce production costs and help create new opportunities.

North American cities with clean, scalable, sustainable mobility solutions through a four-pillar approach, including buses, technology, infrastructure, and workforce development. The government is dealing with various environmental issues. The US state of California has allocated funds to develop 100 hydrogen fueling stations to achieve the goal of 1.5 million zero-emission vehicles by 2025, boosting economic growth. NFI has VIC, the first and only innovation laboratory of its kind, focused on bus technology development and workforce development. Nova Bus introduced its new 100% electric long-distance dual-charger bus to the North American market at the New York Public Transportation Association conference in Albany, NY.

The Global Hydrogen Buses Market is Segmented as follows

• Technology
  • Proton Exchange Membrane Fuel Cells
  • Direct Methanol Fuel Cells
  • Phosphoric Acid Fuel Cells
  • Zinc-Air Fuel Cells
  • Solid Oxide Fuel Cells
• Power Output
  • <150 KW
  • 150–250 KW
  • >250 KW
• Transit Bus Model
  • 30-Foot Transit Bus
  • 40-Foot Transit Bus
  • 60-Foot Transit Bus
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Hydrogen Buses Market is

Tata Motors Limited (India), Thor Industries (U.S.), Hyundai (South Korea), Ballard Power Systems (Canada), Nova Bus Corporation (Canada), New Flyer Industries Ltd (Canada), Evo Bus (Germany), Hino Motors Ltd. (Japan), SunLine Transit Agency (U.S.)

The Global Hydrogen Buses Market Scope can be Tabulated as below