North America Fuel Cell Market - Trends, Demand Insights and Opportunity Analysis to 2030

08-07-2022

By Ronak Bora

North America fuel cell market is diversified into United States and Canada. The United States fuel cell market share is projected to accrue considerable gains through 2030, due to the presence of stringent government targets to reduce carbon emissions in the country. As per the United States Environmental Protection Agency, the nation's greenhouse gas emissions accounted for an overall 5,215.6 million metric tons of CO2 equivalents during 2020. The regional market growth would also be impelled by a higher deployment of energy-efficient technology.

Request for a sample copy of this research report @ https://www.decresearch.com/request-sample/detail/5225

North America fuel cell market size is expected to witness consistent gains by 2030. The growth can be reasoned to the rising demand for fuel cell electric vehicles in the region. The introduction to favorable government mandates and policies to curb carbon emissions would further influence the market expansion.

Several industry conglomerates are making strides in the North America fuel cell market with new developments in the sector. For instance, in 2021, Cummins' fuel cells were deployed to drive North America's first commercial zero emissions ferry. In yet another instance, Capacity Trucks recently launched first North American hydrogen fuel cell electric hybrid truck developed from the ground up.

Fuel cells are a plausible solution for decarbonization of different vehicles, in terms of transport, for different reasons. Some of the significant product attributes stimulating the market dynamics are increased flexibility, high scalability, and zero-emissions. Overall, the North America fuel cell market is categorized into products, applications, and a regional spectrum.

Based on applications, North America fuel cell market is divided into stationary, portable, and transport. Among the aforementioned, the industry share from transport segment would be high, with strong growth in the FCEV's sector over the upcoming years. This can be attributed to the rising investments toward research and developments.

According to a study by California Fuel Cell Partnership, the United States has over 7,600 fuel cell electric vehicles running on the road, more than any other country worldwide. Besides, industry analysts estimate that about 1.2 million FCEVs are likely to be sold by 2030 across the nation.

Request for customization @ https://www.decresearch.com/roc/5225

With regards to the product segmentation, the North America fuel cell market is bifurcated into PEMFC, DMFC, SOFC, PAFC and AFC, and MCFC. Out of these, the SOFC market size is predicted to account for substantial valuation over the forthcoming years. The growth is predicted to be fueled by the product's ability to operate in extreme temperature range. Besides, SOFC's resistance to sulfur content would further push the segmental growth.

Smart Elevator Market: https://www.prnewswire.com/news-releases/smart-elevator-market-revenue-to-cross-23-5-bn-by-2027-global-market-insights-inc-301266443.html

About Author

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport....