Global Hydrogen Car Sales to Fall Again in 2024

According to the Korean research company SNE Research, 12,866 hydrogen fuel cell vehicles (FCEVs) were registered worldwide in 2024. This is 21.6% less than in 2023.

This is what it was all about. The company previously reported that hydrogen vehicle sales fell by 17.4% in the first three quarters of 2024.

The peak in FCEV sales was recorded in 2022. Since then, the global market has been going downhill — a 20.6% drop in 2023 and a 21.6% drop last year.

Even China, which was showing positive dynamics in 2023, has let us down. Hardly anyone expected it, but hydrogen car sales in China fell by 5.9% in 2024 to 7,113 units (for comparison, electric car sales in China last year amounted to about 11 million units). However, China is not only the world’s number one, its market share exceeded 50% in 2024, reaching 55.3%. It is important to note that the Chinese market mainly sells commercial hydrogen cars. The country is also the world leader in the development of hydrogen infrastructure.

FCEV sales fell in all major markets except Japan. South Korea took second place in sales, despite a 20.4% drop. In 2019, Koreans dreamed that by 2040, South Korea would produce 6.2 million hydrogen cars, of which 2.9 million would be used domestically and 3.3 million would be exported. So far, developments are not going as desired. Sales in the country in 2024 amounted to 3,688 units.