Hydrogen-Powered Engine Market to Soar to $87.3 Billion by 2040, Driving the Future of Clean Mobility | says AMR

WILMINGTON, NEW CASTLE, DE, UNITED STATES, February 17, 2025 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Hydrogen Powered Engine Market," The hydrogen powered engine market size is expected to be valued at $34.7 billion in 2030, and is estimated to reach $87.3 billion by 2040, growing at a CAGR of 10.4% from 2031 to 2040.

🔰 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/A07807

There are prominent key factors that drive the growth of the hydrogen powered engine market, such as increase in government initiatives to encourage the adoption of fuel cell vehicles, rise in demand for fuel cells in automotive and transportation, and increase in demand for passenger transportation. Moreover, fuel cells have been used in various kinds of vehicles including forklifts, especially in indoor applications where clean emissions are important to air quality, and in space applications.

Rise in environmental concerns and supportive government initiatives for the development of hydrogen fuel cell infrastructure propel the growth of the hydrogen fuel cell vehicles globally which in turn is expected to boost the hydrogen powered engine market growth during the forecast period. For instance, the European Union is committed to reducing vehicular emissions by 80% by 2050, from the 1990 levels, by focusing on encouraging the adoption of green vehicles. Further, the U.S. Environmental Protection Act (EPA) focuses on implementing fuel cell electric vehicles (FCEVs) to reduce carbon dioxide emissions. Many other countries have also planned to ban the production and sale of gasoline and diesel vehicles in the long term.

Europe region is expected to dominate the market in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. The increase in government regulation for vehicle emission and increase in R&D expenditure by OEMs for the development of hydrogen powered vehicles are driving the growth of hydrogen powered engine market in the region. For instance, the European Union is committed to reducing vehicular emissions by 80% by 2050, from the 1990 levels, by focusing on encouraging the adoption of green vehicles.

🔰 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/A07807

The report offers a detailed segmentation of the global hydrogen powered engine market based on installation, technology, application, propulsion, and region.

Based on installation, the OEM segment held the largest market share in 2030, holding a projected market share nearly three-fourths of the global market, and is expected to maintain its leadership status during the forecast period. The retrofit segment, on the other hand, is predicted to cite the fastest CAGR of 12.0% during the forecast period.

Based on application, the roadways segment held the dominating market share in 2030, holding a projected market share of nearly three-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The marine segment, on the other hand, is expected to cite the fastest CAGR of 13.1% during the forecast period.

Based on technology, the proton membrane exchange segment held the largest market share in 2030, holding a projected market share occupying nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 11.5% during the forecast period.

Based on region, the global hydrogen powered engine market across Europe held the dominating market share in 2030, garnering a projected market share occupying nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same region is expected to cite the fastest CAGR of 11.3% during the forecast period. The other regions analyzed in the report include North America, Asia-Pacific, LAMEA, and Europe.

🔰 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/hydrogen-powered-engine-market/purchase-options

The key players analyzed in the global hydrogen powered engine market report include 𝐀𝐄𝐑𝐎𝐃𝐄𝐋𝐅𝐓, 𝐀𝐢𝐫𝐬𝐩𝐚𝐜𝐞 𝐄𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐞𝐬, 𝐈𝐧𝐜, 𝐀𝐥𝐢𝐬𝐩𝐨𝐫𝐭 𝐒𝐫𝐥, 𝐀𝐥𝐬𝐭𝐨𝐦, 𝐀𝐩𝐮𝐬 𝐆𝐫𝐨𝐮𝐩, 𝐁𝐀𝐄 𝐬𝐲𝐬𝐭𝐞𝐦𝐬, 𝐁𝐀𝐋𝐋𝐀𝐑𝐃 𝐏𝐎𝐖𝐄𝐑 𝐒𝐘𝐒𝐓𝐄𝐌𝐒 𝐈𝐍𝐂, 𝐁𝐞𝐥𝐥 𝐓𝐞𝐱𝐭𝐫𝐨𝐧 𝐈𝐧𝐜, 𝐂𝐮𝐦𝐦𝐢𝐧𝐬 𝐈𝐧𝐜, 𝐃𝐞𝐞𝐫𝐞 𝐂𝐨𝐦𝐩𝐚𝐧𝐲, 𝐃𝐨𝐨𝐬𝐚𝐧 𝐌𝐨𝐛𝐢𝐥𝐢𝐭𝐲 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧, 𝐄𝐌𝐁𝐑𝐀𝐄𝐑 𝐒.𝐀., 𝐆𝐊𝐍 𝐀𝐞𝐫𝐨𝐬𝐩𝐚𝐜𝐞 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐋𝐢𝐦𝐢𝐭𝐞𝐝, 𝐇𝐢𝐭𝐚𝐜𝐡𝐢, 𝐒𝐢𝐞𝐦𝐞𝐧𝐬 𝐌𝐨𝐛𝐢𝐥𝐢𝐭𝐲, 𝐓𝐡𝐚𝐥𝐞𝐬 𝐆𝐫𝐨𝐮𝐩, 𝐓𝐨𝐲𝐨𝐭𝐚, 𝐔𝐑𝐁𝐀𝐍 𝐀𝐄𝐑𝐎𝐍𝐀𝐔𝐓𝐈𝐂𝐒 𝐋𝐓𝐃, 𝐖𝐚𝐛𝐭𝐞𝐜, 𝐙𝐄𝐑𝐎𝐀𝐕𝐈𝐀, 𝐈𝐍𝐂.

The report analyzes these key players in the global hydrogen powered engine market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance, and operating segments by prominent players in the market.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐏𝐨𝐰𝐞𝐫𝐞𝐝 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/hydrogen-powered-tractor-market-A07808 - Global Opportunity Analysis and Industry Forecast, 2025-2035

https://www.alliedmarketresearch.com/hydrogen-fueling-station-market-A08501 - Global Opportunity Analysis and Industry Forecast, 2024-2035

https://www.alliedmarketresearch.com/solar-boat-market-A10180 - Global Opportunity Analysis and Industry Forecast, 2021-2031

https://www.alliedmarketresearch.com/solar-carport-market-A09031 - Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/mini-bus-market-A12258 - Global Opportunity Analysis and Industry Forecast, 2023-2032

David Correa
Allied Market Research
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