The hydrogen fuel cell train market will generate a cumulative revenue of $653.6 billion over the next 15 years, says a study by market research firm, Information Trends. During this period, the unit sales of these trains, also known as hydrails, will grow at a CAGR of over 100 percent.

“A locomotive's normal lifespan is 30 years, but with proper maintenance, it can exceed 40 years,” said Tazeen Fatima, the principal author of the study, which covers both the locomotive and railcar segments of the train market. “This means that when investing in a locomotive, one has to carefully weigh the pros and cons.”

The train vendor currently spearheading the market is Alstom, but several other train manufacturers are making waves in the market, she said. The market will dramatically expand as more players enter the market.

According to the study, over 30 countries are in various stages of deploying fuel cell trains, most of them in Europe. However, Asia-Pacific will overtake Europe in both unit sales and revenue.

Currently, battery-electric trains are less expensive than hydrails, the study said. But for heavy-duty applications, hydrogen is a much better solution than batteries because batteries are poor energy storage devices. Because of its high energy density by weight, hydrogen is ideally suited for heavy-duty trains,

The study highlights the strategies being adopted by key players to maintain their position in the market. It analyzes the competitive landscape as each of the players seeks to increase its market share in a rapidly emerging market.

The study gives detailed forecasts for sales and revenue through the year 2038. It provides an analysis of growth drivers, restraints, and opportunities stemming from the dynamics of the hydrail market.

The comprehensive study examines virtually every facet of the hydrail market. The information-rich study has over 90 charts.