North America Automotive Fuel Cell Market CAGR of 31.4%, Size, Demand, Share, Key Players, Revenue, Overview, and Forecast 2031

Jun 14, 2023

U.S (New York)–The Report Ocean has recently published a new report titled “North America Automotive Fuel Cell Market ” 2023, which outlines the regional and global markets that are predicted to experience significant growth between 2023 and 2031. This extensive research delves deeply into the market’s ever-changing dynamics, value chain analysis, competitive landscapes, investment hotspots, geographical landscape, and significant segments, providing critical insights and valuable information for policymakers, stakeholders, investors, newcomers, and industry professionals. In addition, the report provides a comprehensive examination of the industry’s controls and restraints, as well as information on the global industry’s plans and opportunities. By utilizing this report, individuals in the industry can capitalize on emerging opportunities, develop key strategies, and gain a competitive edge over rivals.

North America automotive fuel cell market is projected to grow by 31.4% annually in the forecast period and reach $3,745.7 million by 2031, driven by the increasing demand for zero-emission vehicles and government subsidies as tax benefits to promote fuel cell vehicles, the growing concerns for environmental pollution, the quick fuel fill-up time compared to battery-based electric vehicles, and advanced technologies to improve the vehicle efficacy.

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A release on June 8th, 2022, by the Bureau and Economic Analysis and U.S. The Census Bureau reports the recovery of the U.S. market. The report also described the recovery of U.S. International Trade in July 2022.In April 2022, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2022, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID-19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2022 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Energy and Power industries. resulting in a large market for North America Automotive Fuel Cell Market .

Highlighted with 25 tables and 52 figures, this 112-page report North America Automotive Fuel Cell Market 2021-2031 by Electrolyte Type (PEMFC, DMFC, AFC, PAFC, Others), Component (Fuel Stack, Fuel Processor, Power Conditioner, Air Compressor, Humidifier), Vehicle Type (Passenger Cars, LCV, Buses, Trucks, Others), Fuel Type (Hydrogen, Methanol), Power Output (<150 KW, 150-250 KW, >250 KW), Operating Miles (Below 250 Miles, 250-500 Miles, Above 500 Miles), and Country: Trend Forecast and Growth Opportunity is based on a comprehensive research of the entire North America automotive 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 StructureGrowth DriversRestraints and ChallengesEmerging Product Trends & Market OpportunitiesPorters Fiver Forces

The trend and outlook of global 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 automotive fuel cell market in every aspect of the classification from perspectives of Electrolyte Type, Component, Vehicle Type, Fuel Type, Power Output, Operating Miles, and Region.

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Selected Key Players:Ballard Power Systems Inc.BorgWarner Inc.Ceres Power Holdings PLCCummins Inc.Doosan Fuel Cell Co., Ltd.Elringklinger AGHorizon Fuel Cell Technologies Pte. Ltd.Hydrogenics CorporationIntelligent Energy LimitedITM Power PLCNedstack Fuel Cell Technology BVNuvera Fuel Cells LLCOorja CorporationPlug Power Inc.PowerCell Sweden ABProton Motor Fuel Cell GmbHSFC Energy AGWatt Fuel Cell Corporation

Based on Electrolyte TypeProton-Exchange Membrane Fuel Cell (PEMFC)Direct Methanol Fuel Cell (DMFC)Alkaline Fuel Cell (AFC)Phosphoric Acid Fuel Cell (PAFC)Other Electrolyte Types

Based on ComponentFuel StackFuel ProcessorPower ConditionerAir CompressorHumidifier

By Vehicle TypePassenger CarsLight Commercial Vehicles (LCV)BusesTrucksOther Commercial Vehicles

By Fuel TypeHydrogenMethanol

By Power Output< 150 KW150-250 KW>250 KW

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By Operating MilesBelow 250 Miles250-500 MilesAbove 500 Miles

GeographicallyU.S.CanadaMexico

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