Hydrogen transport market seen topping $119.9 billion by 2030

The Business Research Company says the hydrogen powered transport market will grow to $119.91 billion by 2030, driven by zero-emission demand, new infrastructure and heavy-duty vehicle adoption. Asia-Pacific is expected to lead regions, while the U.S. is forecast to be the largest country market.

Why it matters: - Hydrogen powered transport is moving from a niche clean mobility category to a market with broad commercial scale. - The forecast size of $119.91 billion by 2030 suggests hydrogen could take a meaningful share of transport decarbonization, especially in heavy-duty and long-range use cases where batteries can be harder to deploy. - The market is projected to represent about 3% of the parent motor vehicles market and nearly 1% of the broader transport industry by 2030.

What happened: - The Business Research Company released its Hydrogen Powered Transport Market Report 2026, covering market size, trends and a global forecast for 2026-2035. - The report estimates the hydrogen powered transport market will reach $119.91 billion by 2030, growing at a CAGR of 42.4%. - The report puts Asia-Pacific as the largest region in 2030, with a projected value of $47 billion. - The report names the U.S. as the largest country market in 2030, with a projected value of $30 billion. - The report says proton exchange membrane fuel cells will be the largest technology segment in 2030, at 87% of the market, or $104 billion. - The market is segmented by fuel cell technology type, vehicle type and end use. - The company offers a free sample of the report and the full market report.

The details: - Asia-Pacific is forecast to grow from $8 billion in 2025 to $47 billion in 2030, a CAGR of 43%. - The report links regional growth to hydrogen refueling infrastructure, government decarbonization targets, net-zero commitments, pilot projects for fuel cell vehicles, electrolysis investment and green hydrogen programs. - The U.S. market is expected to expand from $4 billion in 2025 to $30 billion in 2030, a CAGR of 47%. - U.S. growth is tied to freight and long-haul trucking, private investment in clean fleets, hydrogen production hubs, heavy-duty fuel cell deployment and partnerships between energy providers and mobility companies. - Proton exchange membrane fuel cells are supported by higher power density, fast start-up, better fit for compact vehicle architectures and ongoing durability and cost improvements. - The report says cars, buses, trucks and other vehicles are included in the vehicle-type segment, while passenger vehicles and commercial vehicles make up the end-use split. - The report says the market’s main growth drivers are demand for zero-emission transport, government support and infrastructure development, and adoption in heavy-duty and long-range applications. - The report estimates those three drivers will contribute 2.2%, 1.7% and 1.5% annual growth, respectively. - The report says the main growth opportunities through 2030 sit in proton exchange membrane fuel cells, alkaline transport-focused fuel cells and other transport-focused fuel cells. - Those segments are projected to add more than $99 billion in market value by 2030. - The report says the proton exchange membrane fuel cells market will grow by $87 billion, alkaline transport-focused fuel cells by $8 billion and other transport-focused fuel cells by $4 billion between 2025 and 2030. - The report says hydrogen transport is gaining from faster refueling, longer range and suitability for buses, trains, ships, trucks and other commercial applications. - The report also points to freight, logistics, public transportation and defense as demand centers.

Between the lines: - The forecast underscores a split in clean transportation: batteries dominate many light-vehicle use cases, while hydrogen is being positioned for segments that need speed, range and heavier payloads. - The technology mix suggests fuel cell systems, especially PEM, are still the commercial anchor of the market rather than a broad mix of competing hydrogen drivetrain formats. - The regional and country rankings point to two different growth engines: Asia-Pacific’s policy-led infrastructure buildout and the U.S. freight-led commercialization path.

What's next: - The report expects infrastructure buildout, fleet partnerships and hydrogen production investment to keep lifting market adoption through 2030. - Continued growth in heavy-duty transport and public transport fleets will likely remain the clearest test of whether hydrogen can scale beyond pilot programs. - The Business Research Company says its 2026 reports also include market attractiveness scoring, TAM analysis, company scoring matrices, Excel dashboards, hotspots infographics and updated graphics and tables.

The bottom line: - Hydrogen powered transport is still a small slice of the broader vehicle market, but the forecast points to fast growth led by infrastructure, policy support and commercial fleets.