Hydrogen: The Fuel of the Future
Hydrogen is a key enabler for decarbonizing transport, offering long-range, fast-refueling solutions, particularly for heavy-duty trucks, buses, and trains. The global hydrogen vehicle market is projected to grow at a CAGR of over 40%, reaching USD 68.51 billion by 2030. As of 2023, over 60,000 hydrogen fuel cell electric vehicles (FCEVs) are on the road, with commercial models like Toyota Mirai and Hyundai NEXO leading the way. While passenger cars dominate, hydrogenโs high energy density makes it ideal for commercial vehicles, with heavy-duty hydrogen trucks expected to reach 15,000 units globally by 2030.
The hydrogen light mobility (HLM) market, encompassing two-wheelers, small vans, and passenger cars, is rapidly growing. Hydrogen-powered vehicles offer zero emissions, quick refueling, and competitive ranges due to advancements in fuel cell technology. Countries like Japan and South Korea are driving adoption with government support and expanding hydrogen infrastructure.
Indiaโs Hydrogen Potential
India is advancing hydrogen mobility under its National Hydrogen Mission, targeting 5 MMT of green hydrogen production by 2030, with 20% for transport. Companies like Tata Motors and Mahindra are piloting hydrogen-powered buses, trucks, and two-wheelers. Hydrogen adoption could significantly decarbonize Indiaโs 200 million two-wheelers, with startups like Log9 Materials and HyZero leading innovation.
Challenges and Opportunities
Hydrogen faces barriers like high production costs, expensive infrastructure, limited distribution networks, and competition from EVs. However, its long-range, fast refueling, and zero-emission advantages make it ideal for fleets and urban mobility. With affordable fuel cells, compact storage, and supportive policies, hydrogen could revolutionize sustainable transport.
This webinar will explore key aspects of hydrogen-powered light mobility, including:
- Unveiling its potential: Assessing the opportunities and applications in light mobility
- Techno-economic insights: Analyzing the technical feasibility and economic viability of hydrogen-powered solutions
- Policy imperatives: Identifying the necessary measures to drive growth and adoption in the sector