North America Fuel Cell Market Overview By Growth Trends, Business Opportunities & Revenue Forecast 20230

North America fuel cell market is expected to grow exponentially. With favorable policies & regulatory framework encouraging renewable energy deployment, production of hydrogen and demand for fuel cells will accelerate between 2022-2030.

Burgeoning greenhouse gases are among the leading concerns for the North American economies. Constantly growing transportation sector accounts for 29% of the total industrial emissions. Fuel cells stacked with hydrogen energy are recognized as crucial innovations in decarbonization of the transportation sector.

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Heavy-duty vehicles (HDVs) segment alone accounts for 5% of vehicles on the U.S. roads, which can leverage fuel cells to significantly reduce emissions. HDVs are the largest contributors to mobile nitrogen-dioxide emissions in the U.S. and account for 20% of total transportation emissions.

The necessity for renewable energy resources has suddenly surged across North America in view of depleting reserves of traditional fuels such as natural gas, oil, and coal. Awareness regarding the dramatic environmental implications of fossil fuels and massive rise in the volumes of greenhouse gases have led to the deployment of green energy systems.

Fuel cells are one of the latest innovations in the field of clean energy generation and utilization. These cells rely on hydrogen for chemical energy and also use other renewable fuels to produce electricity more efficiently with minimum environmental hazard. They have emerged as a key technology to accomplish decarbonization as it only produces water, heat, and electricity.

Why are fuel cells replacing conventional combustion-based technologies?

Unlike conventional combustion-based technologies used within power plants and vehicles, fuel cells operate at relatively higher efficiencies. The hydrogen-based technology converts chemical energy into electrical energy at an efficiency level above 60%.

Major benefits of utilizing fuel cell technologies include:

  • Low/zero emissions as compared to non-renewable systems
  • Crucial in reducing carbon footprint since the only by product is water
  • Negligible pollution-related impacts to on-site workers
  • Capable of powering the largest to smallest systems right from utility power stations to a laptop computer

Canada’s ambitious hydrogen strategy framework for 2050

Canada deployed a comprehensive hydrogen strategy framework in 2020, showcasing ambitious goals for achieving net-zero emissions by 2050. The northern neighbour of the U.S. aims to emerge as the global industrial leader of clean renewable fuels and a major contributor to North America fuel cell industry.

Canada is offering lucrative scope for fuel cell energy systems by driving the shift from conventional gasoline, natural gas, and diesel to clean hydrogen. The country ranks among the top 10 hydrogen producers in the world, with rich feedstocks to scale up production in the future.

Implementing key initiatives throughout the country’s landscape, Canada could see lucrative scope for fuel cell R&D and production in the future, strengthening North America fuel cell market forecast.

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Partial Chapter of the Table of Content

Chapter 3   North America Fuel Cell Market, By Product

3.1    North America fuel cell market share by product, 2021 & 2030

3.2    PEMFC

3.2.1    North America market from PEMFC, 2018 – 2030

3.2.2    North America market from PEMFC, by country, 2018 – 2030

3.3    DMFC

3.3.1    North America market from DMFC, 2018 – 2030

3.3.2    North America fuel cell market from DMFC, by country, 2018 – 2030

3.4    SOFC

3.4.1    North America market from SOFC, 2018 – 2030

3.4.2    North America market from SOFC, by country, 2018 – 2030

3.5    PAFC & AFC

3.5.1    North America market from PAFC & AFC, 2018 – 2030

3.5.2    North America market from PAFC & AFC, by country, 2018 – 2030

3.6    MCFC

3.6.1    North America market from MCFC, 2018 – 2030

3.6.2    North America market from MCFC, by country, 2018 – 2030

Chapter 4   North America Fuel Cell Market, By Application

4.1    North America fuel cell market share by application, 2021 & 2030

4.2    Stationary

4.2.1    North America market from stationary, 2018 – 2030

4.2.2    North America market from stationary, by country, 2018 – 2030

4.3    Portable

4.3.1    North America market from portable, 2018 – 2030

4.3.2    North America fuel cell market from portable, by country, 2018 – 2030

4.4    Transport

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