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North America Fuel Cell Market 2021-2031 by Product (PEMFC, PAFC, SOFC, MCFC, DMFC, AFC), Capacity (200 Kw or below, above 200 Kw), Application (Stationary, Transportation, Portable), End User, and Country: Trend Forecast and Growth Opportunity

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Published on 08/04/2022| Code: GMD24001| Category: Energy & Power| Total Pages: 289

North America fuel cell market is projected to grow by 19.6% annually in the forecast period and reach $5,216.9 million by 2031, driven by the increasing need for clean power generation, stringent norms on greenhouse gas (GHG) emission across the globe, increasing R&D grants and government incentives, and the mounting environmental concerns and expanding urbanization.
Highlighted with 37 tables and 43 figures, this 111-page report “North America Fuel Cell Market 2021-2031 by Product (PEMFC, PAFC, SOFC, MCFC, DMFC, AFC), Capacity (200 Kw or below, above 200 Kw), Application (Stationary, Transportation, Portable), End User, and Country: Trend Forecast and Growth Opportunity” is based on comprehensive research of the entire North America fuel cell market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2018-2021 and provides forecast from 2022 till 2031 with 2021 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The trend and outlook of North America market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify North America fuel cell market in every aspect of the classification from perspectives of Product, Capacity, Application, End User, and Country.

Based on Product, the North America market is segmented into the following sub-markets with annual revenue ($ mn), capacity (MW), and volume (units) for 2021-2031 included in each section.
• Proton Exchange Membrane Fuel Cell (PEMFC)
• Phosphoric Acid Fuel Cell (PAFC)
• Solid Oxide Fuel Cell (SOFC)
• Molten Carbonate Fuel Cell (MCFC)
• Direct Methanol Fuel Cell (DMFC)
• Alkaline Fuel Cell (AFC)
• Other Fuel Cells

Based on Capacity, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
• Small Scale (Up to 200 Kw)
• Large Scale (Above 200 Kw)

By Application, the North America market is segmented into the following sub-markets with annual revenue ($ mn), capacity (MW), and volume (units) for 2021-2031 included in each section.
• Stationary
• Transportation
• Portable

By End User, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
• Transportation
• Utilities & Government/Municipal Institutes
• Residential
• Commercial & Industrial
• Data Centers
• Military & Defense

Geographically, the following national/local markets are fully investigated:
• U.S.
• Canada
• Mexico
For each key country, detailed analysis and data for annual revenue ($ mn) are available for 2021-2031. The breakdown of national markets by Product, Capacity and Application over the forecast years are also included.

The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Selected Key Players:
Ballard Power Systems Inc.
Bloom Energy Corp.
Ceres Power Holdings PLC
Cummins Inc.
Doosan Fuel Cell America, Inc.
FuelCell Energy Inc.
Horizon Fuel Cell Technologies Pte. Ltd.
Hydrogenics Corporation
Intelligent Energy Limited
Mitsubishi Hitachi Power Systems Ltd.
Nedstack Fuel Cell Technology BV
Nuvera Fuel Cells Inc. (Nuvera Fuel Cells LLC)
Panasonic Corporation
Plug Power Inc.
PowerCell Sweden AB
SFC Energy AG
Toshiba Energy Systems & Solutions Corporation
(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

1 Introduction 8
1.1 Industry Definition and Research Scope 8
1.1.1 Industry Definition 8
1.1.2 Research Scope 10
1.2 Research Methodology 13
1.2.1 Overview of Market Research Methodology 13
1.2.2 Market Assumption 14
1.2.3 Secondary Data 14
1.2.4 Primary Data 14
1.2.5 Data Filtration and Model Design 15
1.2.6 Market Size/Share Estimation 16
1.2.7 Research Limitations 17
1.3 Executive Summary 18
2 Market Overview and Dynamics 21
2.1 Market Size and Forecast 21
2.1.1 Impact of COVID-19 on World Economy 23
2.1.2 Impact of COVID-19 on the Market 25
2.2 Major Growth Drivers 27
2.3 Market Restraints and Challenges 31
2.4 Emerging Opportunities and Market Trends 34
2.5 Porter’s Fiver Forces Analysis 38
3 Segmentation of North America Market by Product 42
3.1 Market Overview by Product 42
3.2 Proton Exchange Membrane Fuel Cell (PEMFC) 49
3.3 Phosphoric Acid Fuel Cell (PAFC) 50
3.4 Solid Oxide Fuel Cell (SOFC) 51
3.5 Molten Carbonate Fuel Cell (MCFC) 52
3.6 Direct Methanol Fuel Cell (DMFC) 53
3.7 Alkaline Fuel Cell (AFC) 54
3.8 Other Fuel Cells 55
4 Segmentation of North America Market by Capacity 56
4.1 Market Overview by Capacity 56
4.2 Small Scale (Up to 200 Kw) 58
4.3 Large Scale (Above 200 Kw) 59
5 Segmentation of North America Market by Application 60
5.1 Market Overview by Application 60
5.2 Stationary 66
5.3 Transportation 67
5.4 Portable 68
6 Segmentation of North America Market by End User 69
6.1 Market Overview by End User 69
6.2 Transportation 71
6.3 Utilities & Government/Municipal Institutes 72
6.4 Residential 73
6.5 Commercial & Industrial 74
6.6 Data Centers 75
6.7 Military & Defense 76
7 North America Market 2021-2031 by Country 77
7.1 Overview of North America Market 77
7.2 U.S. 80
7.3 Canada 85
7.4 Mexico 87
8 Competitive Landscape 89
8.1 Overview of Key Vendors 89
8.2 New Product Launch, Partnership, Investment, and M&A 92
8.3 Company Profiles 93
Ballard Power Systems Inc. 93
Bloom Energy Corp. 95
Ceres Power Holdings PLC 96
Cummins Inc. 97
Doosan Fuel Cell America, Inc. 98
FuelCell Energy Inc. 99
Horizon Fuel Cell Technologies Pte. Ltd. 100
Hydrogenics Corporation 101
Intelligent Energy Limited 102
Mitsubishi Hitachi Power Systems Ltd. 103
Nedstack Fuel Cell Technology BV 104
Nuvera Fuel Cells Inc. (Nuvera Fuel Cells LLC) 105
Panasonic Corporation 106
Plug Power Inc. 107
PowerCell Sweden AB 108
SFC Energy AG 109
Toshiba Energy Systems & Solutions Corporation 110
RELATED REPORTS 111

List of Figures:

Figure 1. A Block Diagram of a Fuel Cell 9
Figure 2. Research Method Flow Chart 13
Figure 3. Bottom-up Approach and Top-down Approach for Market Estimation 16
Figure 4. North America Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2021-2031 18
Figure 5. Industry Value Chain Analysis 21
Figure 6. North America Fuel Cell Market, 2021-2031, $ mn 22
Figure 7. Impact of COVID-19 on Business 25
Figure 8. Primary Drivers and Impact Factors of North America Fuel Cell Market 27
Figure 9. World Electric Vehicle Market, 2019-2030, $ bn 30
Figure 10. Primary Restraints and Impact Factors of North America Fuel Cell Market 31
Figure 11. Investment Opportunity Analysis 35
Figure 12. Porter’s Fiver Forces Analysis of North America Fuel Cell Market 38
Figure 13. Breakdown of North America Fuel Cell Market by Product, 2021-2031, % of Revenue 44
Figure 14. North America Addressable Market Cap in 2022-2031 by Product, Revenue ($ mn) and Share (%) 44
Figure 15. Breakdown of North America Fuel Cell Market by Product, 2021-2031, % of Capacity 46
Figure 16. North America Addressable Market Cap in 2022-2031 by Product, Capacity (MW) and Share (%) 46
Figure 17. Breakdown of North America Fuel Cell Market by Product, 2021-2031, % of Volume 48
Figure 18. North America Addressable Market Cap in 2022-2031 by Product, Volume (units) and Share (%) 48
Figure 19. Breakdown of North America Fuel Cell Market by Capacity, 2021-2031, % of Sales Revenue 57
Figure 20. North America Addressable Market Cap in 2022-2031 by Capacity, Value ($ mn) and Share (%) 57
Figure 21. North America Fuel Cell Market by Capacity: Small Scale (Up to 200 Kw), 2021-2031, $ mn 58
Figure 22. North America Fuel Cell Market by Capacity: Large Scale (Above 200 Kw), 2021-2031, $ mn 59
Figure 23. Breakdown of North America Fuel Cell Market by Application, 2021-2031, % of Sales Revenue 61
Figure 24. North America Addressable Market Cap in 2022-2031 by Application, Revenue ($ mn) and Share (%) 61
Figure 25. Breakdown of North America Fuel Cell Market by Application, 2021-2031, % of Capacity 63
Figure 26. North America Addressable Market Cap in 2022-2031 by Application, Capacity (MW) and Share (%) 63
Figure 27. Breakdown of North America Fuel Cell Market by Application, 2021-2031, % of Volume 65
Figure 28. North America Addressable Market Cap in 2022-2031 by Application, Volume (units) and Share (%) 65
Figure 29. Breakdown of North America Fuel Cell Market by End User, 2021-2031, % of Revenue 70
Figure 30. North America Addressable Market Cap in 2022-2031 by End User, Value ($ mn) and Share (%) 70
Figure 31. North America Fuel Cell Market by End User: Transportation, 2021-2031, $ mn 71
Figure 32. North America Fuel Cell Market by End User: Utilities & Government/Municipal Institutes, 2021-2031, $ mn 72
Figure 33. North America Fuel Cell Market by End User: Residential, 2021-2031, $ mn 73
Figure 34. North America Fuel Cell Market by End User: Commercial & Industrial, 2021-2031, $ mn 74
Figure 35. North America Fuel Cell Market by End User: Data Centers, 2021-2031, $ mn 75
Figure 36. North America Fuel Cell Market by End User: Military & Defense, 2021-2031, $ mn 76
Figure 37. Breakdown of North America Fuel Cell Market by Country, 2021 and 2031, % of Revenue 78
Figure 38. Contribution to North America 2022-2031 Cumulative Market by Country, Value ($ mn) and Share (%) 79
Figure 39. Funding by Hydrogen and Fuel Cell Technologies Office (HFTO) 81
Figure 40. U.S. Fuel Cell Market, 2021-2031, $ mn 83
Figure 41. Canada Fuel Cell Market, 2021-2031, $ mn 85
Figure 42. Fuel Cell Market in Mexico, 2021-2031, $ mn 87
Figure 43. Growth Stage of North America Fuel Cell Industry over the Forecast Period 89

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