Reducing Carbon Emissions with Cleaner Technologies: Factors Bolstering The Market Presnece of Top Hydrogen Buses Companies

Growing concerns about air pollution are driving the demand for environmentally friendly substitutes for public transportation, such as hydrogen buses. These buses use hydrogen gas to create electricity through a chemical reaction. This technology is regarded as a viable way to lower air pollution and greenhouse gas emissions from public transportation networks.

Increased consumer preference for energy-efficient vehicles with rapid refueling capabilities and zero emissions is boosting the adoption of hydrogen buses. An increase in government initiatives to support vehicles that are safer and less dependent on oil, surging environmental awareness, and rapid technological innovations to enhance urban air quality and reduce emission levels are the key aspects fueling industry progress.

As per a report by Fortune Business Insights™, the market for hydrogen buses reached USD 1.07 billion in 2023 and is set to reach USD 41.34 billion by 2032 with a CAGR of 47.3% during 2024-2032. The market size stood at USD 1.87 billion in 2024.

Fortune Business Insights™ Profiles Top 5 Hydrogen Buses Companies in the Global Market

1. Hyundai Motor Company

Headquartered in South Korea, the Hyundai Motor Company, often referred to as Hyundai Motors and generally called Hyundai, is a renowned automotive producer. Hyundai has been keenly engaged in the manufacturing of hydrogen fuel cell vehicles, such as buses. The business has made substantial investments in hydrogen technology and has confirmed a promise of encouraging fuel cell vehicles. In January 2024, Hyundai Motor Company displayed its aim for a hydrogen-powered, software-driven renovation beyond mobility applications at the Consumer Electronic Show (CES) 2024 in Las Vegas. The company desires to emphasize its future blueprint for a hydrogen energy ecosystem and a vision for software and artificial intelligence (AI).

2. Daimler Buses GmbH

The U.K.-based company named Daimler is one of the most popular automotive manufacturers and one of the top hydrogen buses companies globally. It has been generating hydrogen fuel cell technology through its Mercedes-Benz brand for different applications, such as buses. The company has exhibited hydrogen fuel cell buses and has been associated with pilot projects to show the feasibility of this technology. With Mercedes-Benz AG, the company is one of the top global providers of luxury passenger cars and commercial vehicles. In November 2023, Daimler AG provided the first three of 48 fully electric eCitaro articulated hydrogen buses with a 60 kW fuel cell as a range extender to Rhein-Neckar-Verkehr GmbH. It comprises NMC3 efficient batteries and fuel cells that accelerate range to 400 kilometers on one charge.

3. Wrightbus

Founded in 1946, Wrightbus is recognized for its advanced bus designs, such as hydrogen fuel cell buses. Wrightbus is a reputable bus producer in Northern Ireland and an inventor of the low-floor bus. The business was known by Robert Wright in 1946 and was later controlled by his son William Wright till it was obtained by British entrepreneur Jo Bamford in 2019. The establishment has shown hydrogen-powered prototypes and aims to develop this technology. In October 2023, a bus operator situated in Germany, West Verkehr, requested a fleet of 12 Wrightbus Kite Hydro lines after a Europe-wide tender procedure. The single-deck hydrogen buses will be moved out across the town of Geilenkirchen. The Kite model has a variety of up to 640 miles and is apt for around 90 passengers.

4. New Flyer

New Flyer was established in 1930 and is the major transit bus and coach producer headquartered in Canada. It is a subsidiary of NFI Group Inc. (NFI). Nowadays, New Flyer supplies the most innovative and state-of-the-art products under the Xcelsior and Xcelsior CHARGE brands. Also, it provides infrastructure development through NFI Infrastructure Solutions, a facility devoted to offering modern, secure, ecological, and trustworthy charging and mobility services. New Flyer’s battery-electric and fuel cell-electric vehicles are available in over 150 cities in six countries and have accomplished over 140 million electric service miles. In January 2024, NFI Group Inc. (NFI) and Burnaby inked a new sustainable supply contract for the purchase of fuel cell modules. As part of the contract, Ballard will give New Flyer at least 100 FCmove-HD+ modules as a part of the agreement. The Xcelsior CHARGE FC hydrogen fuel cell buses from New Flyer will be powered by the modules.

5. Solaris Bus & Coach sp. z o.o.

Based in Poland, Solaris Bus & Coach sp. z o.o. is one of the renowned top hydrogen buses manufacturing companies and trolleybus brand with 27 years of practice and having produced over 23,000 vehicles. Solaris City buses are accessible in different drive structures, bodywork sizes and types. In January 2024, German bus company Rheinbahn Dusseldorf placed an order for 10 Solaris Urbino and 12 hydrogen buses. Through the addition of hydrogen and battery-powered vehicles to its urban fleet, the city has been carrying out its plan. Only renewable energy will be used to produce the green hydrogen that will power the ordered buses.

Hydrogen Buses Emerged as a Beacon to Reduce Carbon Emissions

Continuous innovation in hydrogen fuel cell technology is reshaping the industry landscape. It leads to improvement in durability, efficiency, and cost-effectiveness. Moreover, advancements result in lower operating costs, increasing the economic viability of hydrogen buses. Top fuel cell system manufacturers are constantly enhancing their products to lower costs while extending the lifespan, performance, and efficiency of these systems. The enhancement of hydrogen storage and delivery systems is accelerating onboard storage capacity, decreasing refueling times, and improving overall efficiency. Top players are focusing on R&D initiatives to offer innovative solutions to reduce environmental impact.

Rapid advancements in hydrogen storage materials, including cutting-edge composite tanks and metal hydrides, assist producers in developing buses with greater hydrogen storage capabilities, increasing the vehicle's collection and decreasing the frequency of refueling stops. Thanks to these developments, hydrogen buses are now more competitively priced than their conventional and zero-emission counterparts. Several players are combining the production of hydrogen with renewable energy sources, such as hydroelectric power, solar power, and wind, to create green hydrogen. As a result, the carbon footprint of producing hydrogen is decreased.