Thanks to a limited fueling infrastructure and other factors, hydrogen powered vehicles are still few and far between. But the Hydrogen Council has an optimistic view for the long-term, saying there could be around 10 to 15 million hydrogen-powered cars and 500,000 trucks by 2030. By 2050, that number could grow to 400 million hydrogen cars and 15 to 20 million trucks.
The Hydrogen Council consists of 18 members from multiple industries. Audi, BMW, Daimler, General Motors, Honda, Hyundai, and Toyota are among the automakers participating in the initiative. They are joining other companies such as specialty gas supplier Air Liquide and Royal Dutch Shell. The Council created a study that quantifies hydrogen’s role in the energy sector of the future. Across multiple industries, not just transportation, hydrogen has the potential to account for almost one-fifth of total final energy consumed by 2050. At this level, hydrogen could contribute 20 percent toward global climate targets. In the Paris Agreement, world leaders agreed to limit global temperature increases to 2 degrees Celsius above pre-industrial levels.
This reduction will come as a result of increased manufacturing and a stronger fueling infrastructure. Last year, IHS Automotive released a study predicting hydrogen powered vehicles will still be quite uncommon in about decade’s time. By 2027, this study says, hydrogen cars are expected to make up less than 0.1 percent of the global vehicle market share. That means automakers would sell an average of just around 70,000 hydrogen cars a year. Reduced costs should help lure more people to hydrogen fuel cells, the study contends. Building the necessary fueling infrastructure will cost $1,500 to $2,000 per hydrogen car. But after 2030, the cost could drop to less than $1,000. When it comes to total cost of ownership, the cost disadvantage held by a fuel cell electric vehicle over an internal combustion vehicle could drop below 10 percent for many passenger cars between 2025 and 2030.
Brace yourselves guys,hydrogen-powered vehicles are coming!