United States Hydrogen Internal Combustion Engine Market 2025 | Growth Drivers, Key Players & Investment Opportunities

Market Size and Growth

The Global Hydrogen Internal Combustion Engine Market reached US$ 27.6 billion in 2022 and is expected to reach US$ 59.6 billion by 2031, growing with a CAGR of 10.1% during the forecast period 2024-2031.

Key Development:

🇺🇸 United States: Recent Industry Developments

✅ In April 2025, Cummins Inc. unveiled its industry-first turbocharger designed specifically for hydrogen internal combustion engines (H2ICE). This innovation aims to enhance performance and efficiency in heavy-duty commercial applications.

✅ In March 2025, Cummins celebrated the successful completion of Project Brunel, a collaboration with Johnson Matthey, PHINIA, and Zircotec. The project delivered significant improvements in H2ICE engine performance and durability.

✅ In March 2025, Cummins invested over £13 million in a new Powertrain Test Facility at its Darlington Campus. This expansion allows for testing full powertrains powered by hydrogen, diesel, natural gas, and battery electric technologies.

🇯🇵 Japan: Recent Industry Developments

✅ In July 2025, Toyota and Yamaha introduced a new 5.0-liter V-8 hydrogen engine, developed through their collaboration. This engine marks a significant step in Japan's push towards hydrogen-powered internal combustion technology.

✅ In May 2025, Toyota showcased its GR Corolla H2 Concept, featuring a liquid hydrogen system equipped with a self-pressurizer. This system boosts engine efficiency by recycling escaping gas, demonstrating Toyota's commitment to advancing hydrogen vehicle technology.

✅ In May 2025, a delegation from Tata Motors met with Jharkhand Chief Minister Hemant Soren to discuss advancements in green transportation technology, focusing on hydrogen-powered engines and electric trucks. This meeting highlighted Tata Motors' efforts in promoting sustainable mobility solutions.

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Hydrogen Internal Combustion Engines (H2-ICE) are engines that use hydrogen as fuel instead of conventional fossil fuels. They produce energy through combustion while emitting only water vapor, offering a low-carbon alternative for transportation, industrial machinery, and heavy-duty vehicles, combining familiar engine technology with environmental sustainability.

Recent Mergers and Acquisitions

✅In June 2025, PHINIA announced a definitive agreement to acquire SEM for $47 million. SEM specializes in hydrogen fuel injection technology, enhancing PHINIA's capabilities in hydrogen internal combustion engine development. The acquisition is expected to close in the third quarter of 2025.

✅ In May 2025, Toyota and Daimler finalized a $6.4 billion merger of their Japanese heavy goods vehicle units, Hino Motors and Mitsubishi Fuso Truck and Bus. The new entity aims to strengthen investments in hydrogen technologies, crucial for decarbonizing the trucking sector.

Key Players:

-> Toyota Industries Corporation, BMW Group, Hyundai Motor Company, Mazda Motor Corporation, JCB, ABB, Opel/Vauxhall (Stellantis Group), Ballard Power Systems, Jaguar Land Rover Automotive plc and Hyster-Yale Group.

Growth Forecast Projected:

The Global Aerial Imaging Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Aerial Imaging Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

➥ By Vehicle: Passenger Cars, Commercial Vehicles
➥ By Hydrogen Source: Green Hydrogen, Grey Hydrogen, Blue Hydrogen, Other Sources
➥ By Technology: Internal Combustion Engine (ICE), Dual-Fuel Engines
➥ By Application: Transportation, Power Generation
➥ By End-User: Transportation, Industrial, Others

Regional Analysis for Aerial Imaging Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Aerial Imaging producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Aerial Imaging revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ

What is the current size of the Aerial Imaging Market?

A: In 2022, the Aerial Imaging Market was valued at US$ 27.6 billion, reflecting its strong industry presence.

Q2: How large is the Aerial Imaging Market expected to be by 2031?

A: By 2031, industry forecasts suggest the Aerial Imaging Market will grow to around S$ 59.6 billion , demonstrating significant expansion.

Q3: What is the growth rate of the Aerial Imaging Market?

A: The market is projected to expand at a compound annual growth rate (CAGR) of 10.1% during the forecast period from 2024 to 2031.

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