The president of the German company Bosch revealed his optimistic expectations for the global hydrogen vehicle market during the company's annual press conference, and after improving its sales in 2023, Bosch is placing innovation and sustainable transportation via hydrogen as its top priorities.

Dr. Stefan Hartung, Chairman of the Board of Directors of Bosch, expects the company's hydrogen vehicle market to reach one billion euros, or $1.06 billion, by 2030.

China currently dominates the global market, while Europe and the United States are expected to make limited progress in the next decade. Bosch emphasizes the growth of the commercial hydrogen market, and its sales in this sector are expected to reach 5 billion euros – or 5.33 billion dollars – and Bosch is doubling its production capabilities. Hydrogen 25 times, reaching 170 gigawatts.

Hartung believes that hydrogen vehicles are the fastest way to achieve carbon neutrality for commercial vehicles. Vehicle platforms, production lines and components are 90% identical to diesel engines, while being powerful, efficient and without carbon emissions. The market for Bosch's hydrogen engine technology is expected to reach one billion. Euro by 2030.

The company produces membrane exchange fuel cell systems in Germany and China, and has an agreement with PowerCell for joint production and development.

China is the largest market for hydrogen vehicles; With 5,600 vehicles sold in 2023, China also has the largest number of hydrogen refueling stations in the world.