Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Hydrogen Powered Tractor Market to Reach $3.86 billion by 2030: Cognitive Market Research

This image opens in the lightbox

News provided by

Cognitive Market Research

28 Feb, 2023, 11:00 GMT

Share this article

Share toX

Share this article

Share toX

CHICAGO, Feb. 28, 2023 /PRNewswire/ -- The Global Hydrogen Powered Tractor Market size was valued at USD 1.45 Billion in 2022 and is projected to be USD 3.86 Billion by 2030, growing at a CAGR of 12.8 % from 2023 to 2030, as per a recent report published by Cognitive Market Research. Increasing need to reduce greenhouse gas emissions, the rising modernization of agricultural activities, and the high applicability of hydrogen fuel are expected to boost the growth of the global hydrogen-powered tractors market. For instance, US-based alternative fuel technology and electric vehicle company Cenntro Electric Group Limited has launched its first hydrogen-powered class 8 semi-tractor, the LMH864 is expected to drive the market.

Major findings during the study of the Hydrogen Powered Tractor Industry Analysis:

  • Increasing adoption of hydrogen fuel in various industries such as automotive, chemical, and others, coupled with increasing government initiatives to clean energy, are creating potential revenue opportunities for players in the hydrogen-powered tractor market
  • Increasing modernization of agricultural activities, reduction in greenhouse gas emissions, and high applicability of hydrogen as a fuel are factors expected to drive the growth of the global hydrogen-powered tractors market in the coming year
  • Among the installations, the hydrogen-powered tractor market segmentation includes Retrofit and OEM. The OEM segment is expected to hold the highest share of 69.4% and maintain it over the forecast period. However, the retrofit segment is estimated to register a significant revenue share of 30.6% and the highest CAGR of 15.4% over the forecast period
  • Based on fuel cell technology type, the hydrogen-powered tractor market segmentation includes phosphoric acid fuel cells, proton exchange membrane fuel cells, solid oxide fuel cells, and others. The proton exchange membrane fuel cell segment is projected to hold the highest revenue share of 41.23% and is estimated to witness the largest CAGR of 12.2% during the forecast period. This is due to the use of a platinum-coated solid polymer that only needs hydrogen and oxygen to generate electricity. Proton exchange membrane fuel cells have high power density and light-weight. In addition, PEM fuel cells are more suitable for industrial use, where they can be transported and stored in a controlled environment. The phosphoric acid fuel cell segment is projected to have the second-highest revenue share of 28.3% globally. The solid oxide fuel cell segment is projected to have a significant revenue share of 16.5% in the global market
  • Among the applications, the hydrogen-powere tractor market segmentation includes mining, agriculture, industries, and others. The agriculture segment is expected to register the largest market share of 45.23% and is projected to witness the highest CAGR of 14.2% over the forecast period due to the increasing demand for hydrogen powered tractors in agricultural activities. The industry segment is projected to have the second highest revenue share of 24.8% in the global market. The mining segment is estimated to have a significant revenue share of 15.3% in the global market
  • Among the capacity, the hydrogen-powered tractor market segmentation includes less than 25 tons and more than 25 tons. The less than 25 tons segment is expected to register the largest share of 62.5% and is estimated to maintain its dominance during the forecast period. However, the more than 25 tons segment is expected to have a significant revenue share of 37.6% and is anticipated to register the highest CAGR of 13.2% during the forecast period

Read Full Market Analysis Hydrogen Powered Tractor: by Installation (Retrofit and OEM) By Fuel Cell Technology Type (Phosphoric Acid Fuel Cell, Proton Exchange Membrane Fuel Cell, Solid Oxide Fuel Cell, and Others), By Application (Mining, Agriculture, Industries, and Others), By Capacity (Less Than 25 tons, More Than 25 tons) by Region (North America, Europe, Asia Pacific, Latin America and Middle East, and Africa) Global Industry Analysis, COVID-19 Impact, and Industry Forecast, 2018-2030

Hydrogen Powered Tractor Industry Statistics 2022:

Global Hydrogen Powered Tractor Industry Statistics

2022

Global Revenue (USD Billion)                                                            

1.45 Bn

CAGR (2023-2030)

12.8 %

Hydrogen Powered Tractor OEM Installation Share

69.4 %

Proton Exchange Membrane Fuel Cell Technology Share

41.2 %

Hydrogen Powered Tractor Agriculture Application Share

45.2 %

Less than 25 tons Capacity Hydrogen Powered Tractor Share

62.5 %

North America Hydrogen Powered Tractor Share

37.4 %

Check Full Report with all the Quantitative and Qualitative data: https://www.cognitivemarketresearch.com/hydrogen-powered-tractor-market-report#request_sample

What are the Growth, Drivers, and Opportunities for the Hydrogen Powered Tractor Market?

Hydrogen-powered tractors offer various advantages, such as low gas emissions, easy maintenance, silent operation to reduce noise pollution, low temperature, and low heat transfer, which are expected to drive the growth of the global market. Moreover, rising demand for hydrogen-powered tractors in various end-use industries such as mining, agriculture, and industrial, along with  raising awareness to reduce carbon footprint, are other factors anticipated to drive the growth of the global market. Increasing adoption of hydrogen fuel in various industries, such as automotive, and chemical, along with rising government initiatives to clean energy, are creating potential revenue opportunities for players in the hydrogen-powered tractor market. Moreover, the growing preference for distillate fuels is another factor expected to drive the growth of this market soon. Increasing government spending on the automotive industry and technological advancements, such as developing cost-effective hydrogen-powered tractors, are expected to bring new opportunities to players operating in the global market.

How did COVID-19 Impact Hydrogen Powered Tractor Market?

The Covid-19 pandemic has negatively impacted the agriculture and automotive sector and is expected to do so in the coming years. The Covid-19 pandemic has forced governments worldwide to impose strict lockdown regulations and restrict the import and export of non-essential raw materials in 2020. This led to a sudden drop in the supply of raw materials for vehicle components. The extended lockdown affected the agriculture and automotive industry, and the economic crisis has led to reduced spending on cutting-edge technologies such as hydrogen-powered tractors. Governments in several countries have reduced spending on other sectors and directed the funds toward pandemic mitigation.

Hydrogen Powered Tractor Market Report Scope

Hydrogen Powered Tractor Market – Installation Outlook (Revenue, USD Billion, 2018 – 2030)

  • Retrofit
  • OEM

Hydrogen Powered Tractor Market – Fuel Cell Technology Type Outlook (Revenue, USD Billion, 2018 – 2030)

  • Phosphoric Acid Fuel Cell
  • Proton Exchange Membrane Fuel Cell
  • Solid Oxide Fuel Cell
  • Others

Hydrogen Powered Tractor Market – Application Outlook (Revenue, USD Billion, 2018 – 2030)

  • Mining
  • Agriculture
  • Industries
  • Others

Hydrogen Powered Tractor Market – Capacity Outlook (Revenue, USD Billion, 2018 – 2030)

  • Less Than 25 tons
  • More Than 25 tons

Hydrogen Powered Tractor Market – Regional Outlook (Revenue, USD Billion, 2018 – 2030)

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, France, UK, Italy, Spain, Russia, Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Southeast Asia, Rest of APAC)
  • Latin America (Brazil, Argentina, Columbia, Rest of Latin America)
  • Middle East & Africa (GCC, Saudi Arabia, Turkey, Egypt, Rest of MEA)

List Of Key Players in Hydrogen Powered Tractor Market: 

  • Terberg
  • Cummins Inc.
  • Deere Company
  • Deutz Fahr Group
  • BMW
  • Cnh Industrial N.V.
  • Toyota
  • Allis Chalmers
  • Hyster Yale Group
  • Hyundai Motor Company
  • Kubota Corporation
  • Amogy, Inc
  • Ballard Power Systems
  • Blue Fuel Solutions
  • Fendt
  • H2Trac B.V.
  • New Holland

Related Reports on Hydrogen Powered Tractor Market:

  • Global Hydrogen Generator Market is projected to reach USD 2.73 billion by 2030

The global hydrogen generator market is expected to reach USD 2.73 billion by 2030 growing at a CAGR of 8.1%.  Increasing application of hydrogen in refining, oil & gas, and chemical industries is expected to drive the growth of the global market. Increased public awareness of environmentally friendly and emission-free vehicles has inspired the development of hydrogen-fueled vehicles. These vehicles run on electricity generated by combining hydrogen and oxygen. This will drive market growth during the forecast period. Growing demand for hydrogen-based fuel-based power generation and its use in commercial buildings will provide lucrative opportunities for this market over the forecast period.

  • Global Green Hydrogen Market is expected to reach USD 11.34 billion by 2030

The global green hydrogen market is expected to reach USD 11.34 billion by 2030 growing at a CAGR of 51.2%.  The global green hydrogen market is growing owing to increasing awareness of utilizing hydrogen as an energy carrier. The benefit of using hydrogen is that it produces water and heat when mixed with oxygen. Rising environmental concerns have fueled the growth of the industry in recent years. Increasing carbon emissions in both developed and developing countries are forcing them to substitute energy sources, which is expected to drive the demand for green hydrogen market growth.

Other Related Reports:

  • Global Hydrogen Fuel Cell Vehicle Market size is expected to value at USD 48.2 billion by 2030, at 52.2% CAGR
  • Global Hydrogen Energy Storage Market Size will be value at USD 31.38 billion by 2030, at 9.2% CAGR

Explore Other Cognitive Market Research's Automobile & Transportation Industry Report

About Cognitive Market Research

Cognitive Market Research has evolved as one of the leading market research and consulting firms providing services across multiple domains. Our team of researchers gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operating across the value chain. As a market research company, we gather information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.

Follow Us: LinkedIn | Twitter

Blog: How Market Research is Adapting to the Post-Pandemic Changes?
Why Market Research is Important During the Pandemic?

How to Contact Us:

Nicolas Shaw
Global Sales Manager
Cognitive Market Research
Phone: USA: (+1) +1 312-376-8303 | Europe and UK: (+44) 20-8144-9523
Asia Pacific: (+852) 81930785 | India: (+91) 983-496-8611
Email: sales@cognitivemarketresearch.com
Web: https://www.cognitivemarketresearch.com

Athenaeum Subscription
Research Methodology

Logo: https://mma.prnewswire.com/media/1989016/Cognitive_Market_Research_Logo.jpg

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.