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The hydrogen fuel cell train market is expected to grow due to eco-friendly transportation demand, government support, and advancements in hydrogen technology.
WILMINGTON, DE, UNITED STATES, November 18, 2024 /EINPresswire / -- According to the report, the global hydrogen fuel cell train market size is expected to generate $2.67 billion in 2025, and is anticipated to reach $26.41 billion by 2035, witnessing a CAGR of 28.2% from 2026 to 2035.
Hydrogen fuel cell trains use hydrogen for propulsion and auxiliary functions. Research into hydrogen as a fuel for zero-emission trains has been growing in recent years. The rail industry is focused on overcoming challenges related to hydrogen storage infrastructure, safety perceptions, and costs.
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However, high capital costs for developing hydrogen fuel cell trains and upgrading existing rolling stock may slow the market's growth. On the other hand, increased R&D in hydrogen fuel cell technology and rising demand for passenger trains could create opportunities for the hydrogen fuel cell train market in the future.
Increase in investments in railway infrastructure development, surge in environmental concerns, and rise in demand for public transport services drive the growth of the global hydrogen fuel cell train market. However, high capital requirements for the development of hydrogen fuel cell trains and refurbishment of existing rolling stocks are expected to hinder the growth of the industry. On the other hand, increase in R&D activities related to hydrogen fuel cell technology and an increase in demand for trains for passenger transportation are expected to create enormous opportunities for the market during the forecast period.
Europe is estimated to hold the highest market share in terms of revenue 2025, accounting for more than one-third of the global hydrogen fuel cell train market. Moreover, the same region is expected to witness the fastest CAGR of 30.2% from 2026 to 2035, owing to increase in government support for zero-emission technology from the European Union. The report also analyzes North America, Asia-Pacific, and LAMEA.
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Covid-19 Scenario
1. The outbreak of the Covid-19 pandemic has negatively influenced the global train market, thereby hampering the growth of the global hydrogen fuel cell train market.
2. Major rolling stock manufacturers such as Alstom and Stadler Rail AG were bound to shut down their production, owing to decline in demand, disruption in the supply chain, and shortage of skilled labor force in the U.S, France, Germangy, Spain, and other economies in 2020.
3. A sudden decline in demand for passenger rail vehicles impacted the rolling stock industry. At the same time, the economic crisis led to a reduction in expenditure on next-generation technologies such as hydrogen trains.
4. Nevertheless, the market experienced a recovery in 2021, as operations of manufacturing companies and factories resumed.
5. Also, government authorities in developing nations are likely to resume metro projects and expansion of the rail network, which is going to boost the growth of the global hydrogen fuel cell train market in the post-pandemic.
Based on technology, the proton exchange membrane fuel cell segment is anticipated to hold the highest market share in 2025, accounting for nearly two-fifths of the global hydrogen fuel cell train market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 29.5% from 2026 to 2035, owing to increase in use of proton exchange membrane fuel cells as energy sources in trains to reduce CHE emissions. The report also analyzes Phosphoric Acid Fuel Cell.
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Based on application, the passenger train segment is expected to hold the highest market share in 2025, accounting for nearly two-thirds of the global hydrogen fuel cell train market, and is estimated to maintain its leadership status throughout the forecast period, owing to increase in demand for public transportation across the globe. However, the freight train segment is projected to manifest the highest CAGR of 29.3% from 2026 to 2035, owing to rise in international trade and increase in cross-border rail freight transport.
Hydrogen Fuel Cell Train Market: Competitive Landscape and Key Developments
Alstom SA, TWI Ltd, Hyundai Corporation, Talgo, Siemens Mobility GmbH, CRRC Corp Ltd, WABTEC, Stadler Rail AG, and Ballard Power Systems are among the key hydrogen fuel cell train market players profiled during this study. In addition, several other important hydrogen fuel cell train market players have been studied and analyzed during the study to get a holistic view of the hydrogen fuel cell train market and its ecosystem.
In 2023, First hydrogen-powered trains by CRRC and Woojin. Traction systems of both trains are equipped with fuel cells and supercapacitors; the travel range on a single charge reaches 600 km. With a top speed of 160 km/h, CRRC's train outruns the one by South Korea's Woojin Industrial Systems accelerating to 110 km/h.
In 2023, Hyundai Rotem's hydrogen-electric tram is coming into the spotlight as an eco-friendly transport with safety, feasibility and convenience for a hydrogen society ahead.
In 2023, Hyundai Rotem Commercializes Hydrogen High-Speed Train. Through its R&D and business portfolio, which is centered on three business divisions, namely Rail Solution, Defense Solution, and Ecoplant, Hyundai Rotem will pursue the global market. By adapting to the quickly shifting global environment and securing products that include cutting-edge technology based on the 4th industrial revolution, it is concentrating on developing future growth engines.
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