North America Automotive Fuel Cell Market 2022-2031 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
- Report ID: 43087
- Date: Aug, 2022
- Pages: 112
- Category: Energy & Power
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.
Highlighted with 25 tables and 52 figures, this 112-page report “North America Automotive Fuel Cell Market 2022-2031 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 2018-2022 and provides forecast from 2022 till 2031 with 2022 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 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 Country.
Based on Electrolyte Type, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2031 included in each section.
• Proton-Exchange Membrane Fuel Cell (PEMFC)
• Direct Methanol Fuel Cell (DMFC)
• Alkaline Fuel Cell (AFC)
• Phosphoric Acid Fuel Cell (PAFC)
• Other Electrolyte Types
Based on Component, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2031 included in each section.
• Fuel Stack
• Fuel Processor
• Power Conditioner
• Air Compressor
• Humidifier
By Vehicle Type, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2031 included in each section.
• Passenger Cars
• Light Commercial Vehicles (LCV)
• Buses
• Trucks
• Other Commercial Vehicles
By Fuel Type, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2031 included in each section.
• Hydrogen
• Methanol
By Power Output, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2031 included in each section.
• < 150 KW
• 150-250 KW
• >250 KW
By Operating Miles, the North America market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2031 included in each section.
• Below 250 Miles
• 250-500 Miles
• Above 500 Miles
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 2022-2031. The breakdown of national markets by Electrolyte Type, Vehicle Type and Operating Miles 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.
BorgWarner Inc.
Ceres Power Holdings PLC
Cummins Inc.
Doosan Fuel Cell Co., Ltd.
Elringklinger AG
Horizon Fuel Cell Technologies Pte. Ltd.
Hydrogenics Corporation
Intelligent Energy Limited
ITM Power PLC
Nedstack Fuel Cell Technology BV
Nuvera Fuel Cells LLC
Oorja Corporation
Plug Power Inc.
PowerCell Sweden AB
Proton Motor Fuel Cell GmbH
SFC Energy AG
Watt Fuel Cell 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 7
1.1 Industry Definition and Research Scope 7
1.1.1 Industry Definition 7
1.1.2 Research Scope 9
1.2 Research Methodology 12
1.2.1 Overview of Market Research Methodology 12
1.2.2 Market Assumption 13
1.2.3 Secondary Data 13
1.2.4 Primary Data 13
1.2.5 Data Filtration and Model Design 14
1.2.6 Market Size/Share Estimation 15
1.2.7 Research Limitations 16
1.3 Executive Summary 17
2 Market Overview and Dynamics 20
2.1 Market Size and Forecast 20
2.1.1 Impact of COVID-19 on World Economy 21
2.1.2 Impact of COVID-19 on the Market 25
2.2 Major Growth Drivers 27
2.3 Market Restraints and Challenges 32
2.4 Emerging Opportunities and Market Trends 35
2.5 Porter’s Fiver Forces Analysis 39
3 Segmentation of North America Market by Electrolyte Type 43
3.1 Market Overview by Electrolyte Type 43
3.2 Proton-Exchange Membrane Fuel Cell (PEMFC) 45
3.3 Direct Methanol Fuel Cell (DMFC) 46
3.4 Alkaline Fuel Cell (AFC) 47
3.5 Phosphoric Acid Fuel Cell (PAFC) 48
3.6 Other Electrolyte Types 49
4 Segmentation of North America Market by Component 50
4.1 Market Overview by Component 50
4.2 Fuel Stack 52
4.3 Fuel Processor 53
4.4 Power Conditioner 54
4.5 Air Compressor 55
4.6 Humidifier 56
5 Segmentation of North America Market by Vehicle Type 57
5.1 Market Overview by Vehicle Type 57
5.2 Passenger Cars 59
5.3 Light Commercial Vehicles (LCV) 61
5.4 Buses 62
5.5 Trucks 63
5.6 Other Commercial Vehicles 64
6 Segmentation of North America Market by Fuel Type 65
6.1 Market Overview by Fuel Type 65
6.2 Hydrogen 67
6.3 Methanol 68
7 Segmentation of North America Market by Power Output 69
7.1 Market Overview by Power Output 69
7.2 < 150 KW 71
7.3 150-250 KW 72
7.4 > 250 KW 73
8 Segmentation of North America Market by Operating Miles 74
8.1 Market Overview by Operating Miles 74
8.2 Below 250 Miles 76
8.3 250-500 Miles 77
8.4 Above 500 Miles 78
9 North America Market 2021-2031 by Country 79
9.1 Overview of North America Market 79
9.2 U.S. 82
9.3 Canada 85
9.4 Mexico 87
10 Competitive Landscape 89
10.1 Overview of Key Vendors 89
10.2 New Product Launch, Partnership, Investment, and M&A 92
10.3 Company Profiles 93
Ballard Power Systems Inc. 93
BorgWarner Inc. 95
Ceres Power Holdings PLC 96
Cummins Inc. 97
Doosan Fuel Cell Co., Ltd. 98
Elringklinger AG 99
Horizon Fuel Cell Technologies Pte. Ltd. 100
Hydrogenics Corporation 101
Intelligent Energy Limited 102
ITM Power PLC 103
Nedstack Fuel Cell Technology BV 104
Nuvera Fuel Cells LLC 105
Oorja Corporation 106
Plug Power Inc. 107
PowerCell Sweden AB 108
Proton Motor Fuel Cell GmbH 109
SFC Energy AG 110
Watt Fuel Cell Corporation 111
RELATED REPORTS 112
List of Tables
Table 1. Snapshot of North America Automotive Fuel Cell Market in Balanced Perspective, 2021-2031 18
Table 2. World Economic Outlook, 2021-2031 22
Table 3. World Economic Outlook, 2021-2023 23
Table 4. Hydrogen Refilling Stations in Operation by Country as of Sep 2021 31
Table 5. Main Product Trends and Market Opportunities in North America Automotive Fuel Cell Market 35
Table 6. North America Automotive Fuel Cell Market by Electrolyte Type, 2021-2031, $ mn 43
Table 7. North America Automotive Fuel Cell Market by Component, 2021-2031, $ mn 50
Table 8. North America Automotive Fuel Cell Market by Vehicle Type, 2021-2031, $ mn 57
Table 9. Commercially Available Fuel Cell Vehicles 60
Table 10. North America Automotive Fuel Cell Market by Fuel Type, 2021-2031, $ mn 65
Table 11. North America Automotive Fuel Cell Market by Power Output, 2021-2031, $ mn 69
Table 12. North America Automotive Fuel Cell Market by Operating Miles, 2021-2031, $ mn 74
Table 13. North America Automotive Fuel Cell Market by Country, 2021-2031, $ mn 80
Table 14. U.S. Automotive Fuel Cell Market by Electrolyte Type, 2021-2031, $ mn 84
Table 15. U.S. Automotive Fuel Cell Market by Vehicle Type, 2021-2031, $ mn 84
Table 16. U.S. Automotive Fuel Cell Market by Operating Miles, 2021-2031, $ mn 84
Table 17. Canada Automotive Fuel Cell Market by Electrolyte Type, 2021-2031, $ mn 86
Table 18. Canada Automotive Fuel Cell Market by Vehicle Type, 2021-2031, $ mn 86
Table 19. Canada Automotive Fuel Cell Market by Operating Miles, 2021-2031, $ mn 86
Table 20. Mexico Automotive Fuel Cell Market by Electrolyte Type, 2021-2031, $ mn 88
Table 21. Mexico Automotive Fuel Cell Market by Vehicle Type, 2021-2031, $ mn 88
Table 22. Mexico Automotive Fuel Cell Market by Operating Miles, 2021-2031, $ mn 88
Table 23. Ballard Power Systems Inc.: Company Snapshot 93
Table 24. Ballard Power Systems Inc.: Business Segmentation 94
Table 25. Ballard Power Systems Inc.: Product Portfolio 94
List of Figures
Figure 1. A Scheme of Automotive Fuel Cell System 8
Figure 2. Research Method Flow Chart 12
Figure 3. Bottom-up Approach and Top-down Approach for Market Estimation 15
Figure 4. North America Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2021-2031 17
Figure 5. North America Automotive Fuel Cell Market, 2021-2031, $ mn 20
Figure 6. Impact of COVID-19 on Business 25
Figure 7. Primary Drivers and Impact Factors of North America Automotive Fuel Cell Market 27
Figure 8. World Electric Vehicle Market, 2019-2030, $ bn 30
Figure 9. Primary Restraints and Impact Factors of North America Automotive Fuel Cell Market 32
Figure 10. Investment Opportunity Analysis 36
Figure 11. Porter’s Fiver Forces Analysis of North America Automotive Fuel Cell Market 39
Figure 12. Breakdown of North America Automotive Fuel Cell Market by Electrolyte Type, 2021-2031, % of Revenue 44
Figure 13. North America Addressable Market Cap in 2022-2031 by Electrolyte Type, Value ($ mn) and Share (%) 44
Figure 14. North America Automotive Fuel Cell Market by Electrolyte Type: Proton-Exchange Membrane Fuel Cell (PEMFC), 2021-2031, $ mn 45
Figure 15. North America Automotive Fuel Cell Market by Electrolyte Type: Direct Methanol Fuel Cell (DMFC), 2021-2031, $ mn 46
Figure 16. North America Automotive Fuel Cell Market by Electrolyte Type: Alkaline Fuel Cell (AFC), 2021-2031, $ mn 47
Figure 17. North America Automotive Fuel Cell Market by Electrolyte Type: Phosphoric Acid Fuel Cell (PAFC), 2021-2031, $ mn 48
Figure 18. North America Automotive Fuel Cell Market by Electrolyte Type: Other Electrolyte Types, 2021-2031, $ mn 49
Figure 19. Breakdown of North America Automotive Fuel Cell Market by Component, 2021-2031, % of Sales Revenue 51
Figure 20. North America Addressable Market Cap in 2022-2031 by Component, Value ($ mn) and Share (%) 51
Figure 21. North America Automotive Fuel Cell Market by Component: Fuel Stack, 2021-2031, $ mn 52
Figure 22. North America Automotive Fuel Cell Market by Component: Fuel Processor, 2021-2031, $ mn 53
Figure 23. North America Automotive Fuel Cell Market by Component: Power Conditioner, 2021-2031, $ mn 54
Figure 24. North America Automotive Fuel Cell Market by Component: Air Compressor, 2021-2031, $ mn 55
Figure 25. North America Automotive Fuel Cell Market by Component: Humidifier, 2021-2031, $ mn 56
Figure 26. Breakdown of North America Automotive Fuel Cell Market by Vehicle Type, 2021-2031, % of Sales Revenue 58
Figure 27. North America Addressable Market Cap in 2022-2031 by Vehicle Type, Value ($ mn) and Share (%) 58
Figure 28. North America Automotive Fuel Cell Market by Vehicle Type: Passenger Cars, 2021-2031, $ mn 59
Figure 29. North America Automotive Fuel Cell Market by Vehicle Type: Light Commercial Vehicles (LCV), 2021-2031, $ mn 61
Figure 30. North America Automotive Fuel Cell Market by Vehicle Type: Buses, 2021-2031, $ mn 62
Figure 31. North America Automotive Fuel Cell Market by Vehicle Type: Trucks, 2021-2031, $ mn 63
Figure 32. North America Automotive Fuel Cell Market by Vehicle Type: Other Commercial Vehicles, 2021-2031, $ mn 64
Figure 33. Breakdown of North America Automotive Fuel Cell Market by Fuel Type, 2021-2031, % of Revenue 66
Figure 34. North America Addressable Market Cap in 2022-2031 by Fuel Type, Value ($ mn) and Share (%) 66
Figure 35. North America Automotive Fuel Cell Market by Fuel Type: Hydrogen, 2021-2031, $ mn 67
Figure 36. North America Automotive Fuel Cell Market by Fuel Type: Methanol, 2021-2031, $ mn 68
Figure 37. Breakdown of North America Automotive Fuel Cell Market by Power Output, 2021-2031, % of Revenue 70
Figure 38. North America Addressable Market Cap in 2022-2031 by Power Output, Value ($ mn) and Share (%) 70
Figure 39. North America Automotive Fuel Cell Market by Power Output: < 150 KW, 2021-2031, $ mn 71
Figure 40. North America Automotive Fuel Cell Market by Power Output: 150-250 KW, 2021-2031, $ mn 72
Figure 41. North America Automotive Fuel Cell Market by Power Output: > 250 KW, 2021-2031, $ mn 73
Figure 42. Breakdown of North America Automotive Fuel Cell Market by Operating Miles, 2021-2031, % of Revenue 74
Figure 43. North America Addressable Market Cap in 2022-2031 by Operating Miles, Value ($ mn) and Share (%) 75
Figure 44. North America Automotive Fuel Cell Market by Operating Miles: Below 250 Miles, 2021-2031, $ mn 76
Figure 45. North America Automotive Fuel Cell Market by Operating Miles: 250-500 Miles, 2021-2031, $ mn 77
Figure 46. North America Automotive Fuel Cell Market by Operating Miles: Above 500 Miles, 2021-2031, $ mn 78
Figure 47. Breakdown of North America Automotive Fuel Cell Market by Country, 2021 and 2031, % of Revenue 80
Figure 48. Contribution to North America 2022-2031 Cumulative Market by Country, Value ($ mn) and Share (%) 81
Figure 49. U.S. Automotive Fuel Cell Market, 2021-2031, $ mn 83
Figure 50. Canada Automotive Fuel Cell Market, 2021-2031, $ mn 85
Figure 51. Automotive Fuel Cell Market in Mexico, 2021-2031, $ mn 87
Figure 52. Growth Stage of North America Automotive Fuel Cell Industry over the Forecast Period 89
Research methodology is mainly referring to the practical how of any offered piece of research. More specifically, it’s all about how a researcher systematically designs a study in order to assure extremely valid as well as reliable results that ultimately address the targets and objectives of the research.
In any formal research including academic journal, article, dissertation and so on, there will be a special section on a research methodology that mainly describes what, by whom, how to gather as well as how to evaluate the data are provided.
This research methodology has been segmented into following types:
Primary Research:
It is said to be original information that the researchers collect for the crucial purposes of answering the research questions of readers with the help of surveys, observations and experiments.
Secondary Research:
The secondary research is the data that has already been collected by various other researchers in the form of government analysis or scientific studies.
Qualitative Research:
It is descriptive and subjective method irrespective of facts. Both observation and description are essential in this type of research methodology. Its main vision is to analyze knowledge, attitudes, behaviours as well as opinions of people related to the topic of any research. This method has been operated through grounded research, case study and actionable research.
Quantitative Research:
It contains several laboratory experiments, basic surveys, mathematical calculations, simulations and so on. The possible measurement, quantity or amount is considered to be a major factor in the quantitative research methodology.
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