Among Trucks, Parts, Service readers, hydrogen edges out hybrid electric as the alternative option most likely to pull market share from diesel in the commercial truck market.
More than a third of all responders (36%) and nearly half of dealer responders (47%) to an April 2023 TPS reader survey selected hydrogen as the most viable alternative power or fuel source to diesel in the medium- and heavy-duty markets. Battery electric trucks were viewed as a top option by only 6% of responders, though hybrid (battery electric with a fuel source) was viewed as a top choice by 34% of responses.
Yet despite responders’ affinity toward hydrogen, most early investment into supporting alternative power solutions has been for electric and hybrid electric vehicles. Among dealer responders, 28% have already delivered at least one electric vehicle and 83% of dealers said they intend to sell EVs in the future. Additionally, 54% of dealers have already invested EV charging and service infrastructure.
To what scale will the EV market grow? Survey responders’ thoughts are mixed. Just 7% of responders believe EVs will represent at least 25% of new truck sales by 2030, but 55% believe they will earn that market share at a later date (28% saying that adoption will come between 2030 and 2040; 27% saying it will come after 2040).