Global hydrogen vehicles to ‘exceed 1 million’ by 2027

The number of hydrogen vehicles in service around the world will increase to more than one million by 2027, new research suggests.

Hydrogen vehicles are those that use hydrogen propulsion systems as their onboard fuel. It works by reacting the chemical energy of hydrogen and oxygen with the fuel cell, converting the energy to electricity.

According to a study by Juniper Research, there are over 60,000 hydrogen vehicles currently in service.

This means that in just five years the number will have grown by over 1,500 per cent.

The report predicts that the consumer market will lead the hydrogen vehicles space, with consumer vehicles accounting for over 60 per cent of hydrogen vehicles in service globally in 2027.

The research found that high costs are a limiting factor to adoption of commercial vehicle types, with the average cost of hydrogen powered commercial vehicles at over $70,000 globally in 2022.

“Manufacturers will need to make hydrogen vehicles more affordable to become viable for fleets, but increased range and suitability for heavy goods transport will ultimately drive growth and economies of scale,” said co-author of the research Olivia Williams.

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