수소 IC 엔진 시장 : 현황 분석과 예측(2024-2032년)

A hydrogen combustion engine is one of the internal combustion engines that uses hydrogen as the primary fuel. Hydrogen can be burned in the engine as with gasoline or diesel fuel although with the added benefit of no carbon emissions, only steam. This awareness has been prompted by an increased focus on emissions reduction and enhancement of sustainability within transport and manufacturing industries. Hydrogen combustion engines can be adopted in transport, electricity generation, and large machinery industries. These engines are likely to have vital applications in industries that are beyond the range dominance of battery-electric vehicles such as long-haul trucks, airplanes, and cargo ships. The use of hydrogen engines to develop power generation solutions is expected to contribute to the concept of clean energy by providing an opportunity to generate electricity that is not dependent on fossil fuel.

The Hydrogen IC Engine Market is expected to grow at a significant rate of around 10% during the forecast period (2024-2032). Rising demand for clean energy and the enhancement of government support towards hydrogen in combustion applications are expected to fuel the utilization of hydrogen combustion engine technology in the coming years. Increased demand for hydrogen infrastructure investments, improvement in engines' physical design, and their ability to support renewable energy sources also positively influence the expansion of the concerned market. This technology is expected to grow further as organizations try to move away from the traditional fossil fuel sources.

Based on the state, the market has been segmented into gas and liquid. The gas segment emerged as the largest segment in 2023. Liquid hydrogen is less used due to some challenges experienced when storing and handling it besides refueling; gaseous hydrogen on the other hand is easier to handle as it does not require being in the liquid state and this is at cryogenic temperatures. Storage tanks and fueling stations for gaseous hydrogen have been developed significantly to some extent when compared to liquid hydrogen, and this infrastructure supports the use of more hydrogen ICE vehicles. Further, hydrogen in gaseous form generally comes cheaper as it does not require the complex cooling solutions as liquid hydrogen does. This makes it a popular option for both the manufacturing industries and users especially as the structure of hydrogen fueling remains dynamic. But in the future with the development of new technology, LH2 may come into use more frequently in certain specific areas with high energy density needed.

Based on application, the market has been segmented into transportation and power generation. The transportation segment held a considerable share of the market. In the Hydrogen Internal Combustion Engine (ICE) Market, the transportation segment is dominant over the power generation segment because ice vehicles are convenient for long-range and fast refueling necessary for heavy vehicles such as trucks, buses, and commercial fleets. Hydrogen ICEs are cheaper and environmentally friendly compared to conventional fuels and their integration is easy, especially with current engine platforms which are a good selling point for industries that are more concerned with cutting their emissions than redesigning infrastructure. On the other hand, the application in power generation is of relatively smaller market size because hydrogen fuel cells are widely used in stationary power markets.

Based on power ratings, the market has been segmented into low, medium, and high. The High segment held a considerable share of the market. High-power hydrogen ICEs are particularly well-suited for applications in trucks, buses, and off-road machinery, where robust performance and long operational range are essential. These engines cater to sectors where hydrogen's quick refueling capabilities and extended range offer clear advantages over battery-electric alternatives, especially for heavy-duty applications. The dominance of the high-power segment reflects the market's current focus on industrial and commercial applications, while lower power ratings are less prevalent, mostly suited to lighter vehicles and specialized uses.

For a better understanding of the market adoption of the hydrogen IC engine market, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, France, U.K., Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America dominates the hydrogen combustion engine market and has the greatest percentage of the market segment now. This is due to the expansion of Research and Development which aims to create high-innovation solutions and to meet consumer demand. In addition, the US government has implemented programs for renewable energy for the development of the market throughout the region. OEMs in the USA off-highway spaces are getting ready for more calls for further decarbonization. Global mining giants have established ambitious decarbonization targets over the past two years, targeting net zero Scope 1 and 2 emissions. In addition, 15 USA states, including California, have adopted extra requirements that trigger electric truck production to 30% by 2030. Based on these factors, the size of the hydrogen combustion engine market is projected to increase. Consumers are indeed paying more attention to the application of hydrogen combustion engines due to their versatility and their versatility in various uses as fuel. Also, they are favored because they can also be reduced to the state of gas or liquefied form to cut transport costs. The key players are considering replacing it with blue or green hydrogen, which is expected to bring down carbon emissions significantly.

Some of the major players operating in the market include Wartsila, Garrett Motion Inc., BeHydro, Deutz AG, Man Energy Solutions, Cummins Inc, Kawasaki Heavy Industries, Ltd, Toyota Motor Corporation, Mazda Motor Corporation, and Reliance Industries Limited.

TABLE OF CONTENTS

1.MARKET INTRODUCTION

• 1.1. Market Definitions
• 1.2. Main Objective
• 1.3. Stakeholders
• 1.4. Limitation

2.RESEARCH METHODOLOGY OR ASSUMPTION

• 2.1. Research Process of the Global Hydrogen IC Engines Market
• 2.2. Research Methodology of the Global Hydrogen IC Engines Market
• 2.3. Respondent Profile

3.EXECUTIVE SUMMARY

• 3.1. Industry Synopsis
• 3.2. Segmental Outlook
  • 3.2.1. Market Growth Intensity
• 3.3. Regional Outlook

4.MARKET DYNAMICS

• 4.1. Drivers
• 4.2. Opportunity
• 4.3. Restraints
• 4.4. Trends
• 4.5. PESTEL Analysis
• 4.6. Demand Side Analysis
• 4.7. Supply Side Analysis
  • 4.7.1. Merger and Acquisitions
  • 4.7.2. Investment Scenario
  • 4.7.3. Industry Insights: Leading Startups and Their Unique Strategies

5.PRICING ANALYSIS

• 5.1. Regional Pricing Analysis
• 5.2. Price Influencing Factors

6.GLOBAL HYDROGEN IC ENGINES MARKET REVENUE (USD BN), 2022-2032F

7.MARKET INSIGHTS BY STATE

• 7.1. Gas
• 7.2. Liquid

8.MARKET INSIGHTS BY APPLICATION

• 8.1. Transportation
• 8.2. Power Generation

9.MARKET INSIGHTS BY POWER RATING

• 9.1. Low
• 9.2. Medium
• 9.3. High

10.MARKET INSIGHTS BY REGION

• 10.1. North America
  • 10.1.1. U.S.
  • 10.1.2. Canada
  • 10.1.3. Rest of North America
• 10.2. Europe
  • 10.2.1. Germany
  • 10.2.2. UK
  • 10.2.3. France
  • 10.2.4. Italy
  • 10.2.5. Spain
  • 10.2.6. Rest of Europe
• 10.3. Asia-Pacific
  • 10.3.1. China
  • 10.3.2. India
  • 10.3.3. Japan
  • 10.3.4. Rest of Asia Pacific
• 10.4. Rest of World

11.VALUE CHAIN ANALYSIS

• 11.1. Marginal Analysis
• 11.2. List of Market Participants

12.COMPETITIVE LANDSCAPE

• 12.1. Competition Dashboard
• 12.2. Competitor Market Positioning Analysis
• 12.3. Porter Five Forces Analysis

13.COMPANY PROFILED

• 13.1. Wartsila
  • 13.1.1. Company Overview
  • 13.1.2. Key Financials
  • 13.1.3. SWOT Analysis
  • 13.1.4. Product Portfolio
  • 13.1.5. Recent Developments
• 13.2. Garrett Motion Inc.
• 13.3. BeHydro
• 13.4. Deutz AG
• 13.5. Man Energy Solutions
• 13.6. Cummins Inc
• 13.7. Kawasaki Heavy Industries, Ltd
• 13.8. Toyota Motor Corporation
• 13.9. Mazda Motor Corporation
• 13.10. Reliance Industries Limited.

14.ACRONYMS & ASSUMPTION

15.ANNEXURE