HD Hyundai XiteSolution announced on the 17th that it has received an order for 22 units of 3.5-ton (t) hydrogen fuel cell forklifts from the Korea Institute of Construction Equipment. This is interpreted as accelerating the transition to hydrogen mobility through the commercialization of hydrogen industrial vehicles.
The hydrogen forklifts ordered this time will be used in the second phase of the national project by the Ministry of Trade, Industry and Energy, 'Reliability Verification Based on Demonstration for the Commercialization of Hydrogen Forklifts'. HD Hyundai XiteSolution also supplied four units of 5-ton hydrogen forklifts in the first phase of the project last year.
Hydrogen forklifts do not emit carbon dioxide, potentially reducing carbon emissions by an average of 1.8 tons per day and approximately 645 tons annually based on 22 units.
The hydrogen forklift market is showing a high average annual growth rate of 31.4%. According to the market research firm Global Growth Research, the global hydrogen forklift market, which was about 975.8 billion won last year, is expected to grow to approximately 10.6 trillion won by 2032. A representative from HD Hyundai XiteSolution noted, 'We will secure additional sales channels following the demonstration project.'