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North America Fuel Cell Market - By Product (PEMFC, DMFC, SOFC, PAFC & AFC, MCFC), By Application (Stationary, Portable, Transport) & Forecast, 2022-2030

  • Report ID: GMI5225
  • Published Date: Mar 2022
  • Report Format: PDF

North America Fuel Cell Market Size

North America Fuel Cell Market size exceeded USD 1,280.9 million in 2021 and is projected to grow at 7% CAGR from 2022 to 2030.

Favourable government mandates and policies to curb carbon emissions coupled with growing infrastructure construction activities will propel the industry dynamics. However, rising consumer inclination towards the adoption of sustainable power sources in line with the expansion of hydrogen network will fuel the market landscape.

North America Fuel Cell Market

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Increasing investments from private and public sectors for the deployment of clean electricity and rising focus for efficient energy supply at off grid locations will boost the industry statistics. Growing awareness towards GHG emission and extensive replacement of conventional fuel sources with advanced options will stimulate the business trend. In addition, surging demand for zero-emission sources combined with shifting focus toward green energy will augment the market outlook.

North America Fuel Cell Market Analysis

North America Fuel Cell Market Size By Product

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DMFC market size is poised to witness growth of over 12% through 2030. Increasing requirement for backup energy sources along with rising investments towards the adoption of smart electricity solutions will sway the segment demand. Enhanced energy density, low operating temperature coupled with simple storage of methanol fuel will support the product adoption. Furthermore, rising replacement of batteries with DMFC and growing consumer inclination towards sustainable electrical supply will foster the industry scenario.

SOFC segment is anticipated to rise on account of paradigm shift towards clean power sources and increasing regulatory norms towards the development of fuel cell infrastructure. Long term stability, low cost & easy refueling in line with extensive requirement for uninterrupted power supply in remote areas will enhance the market growth. Moreover, increasing necessity for advanced electricity sources driven by distributed power generation, high efficiency of heat & power followed by low emissions will spur the product demand.

The portable fuel cell market size in North America is set to register around 6% gains till 2030. Rapid investments from public & private sectors to develop distributed power generation technologies will boost the business scenario. Rising electricity consumption in line with the ability of fuel cell to offer continuous supply for long durations will complement the industry outlook. Additionally, increasing replacement of conventional electricity impelled by environmental concerns as well as rising fuel prices will support the market trends.

Growing concern to reduce GHG emissions along with the development of technological advancement for efficient power supply at off-grid locations will positively influence the business expansion. Favourable government norms to promote the deployment of green energy combined with rising investments for innovative electricity solutions will garner the market revenue. Ongoing research and development activities for cost-effective power supply followed by low maintenance expenditure of fuel cells will accelerate the product penetration.

North America Fuel Cell Market Size, By Countries

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The North America fuel cell market size is expected to surpass USD 2 billion by 2030. Stringent government laws & mandates to curb extreme climatic conditions coupled with regulatory norms to cater to the clean power sources will drive the industry landscape. Rising electricity consumption and the development of innovative power solution to offer low carbon emission will positively impact the market share.

For instance, in November 2021, Ballard Power Systems collaborated with Caterpillar and Microsoft to provide the 1.5 MW ClearGenTM-II hydrogen fuel cell power generator and central control structure, power electronics, and system integration. This project is funded by the U.S. Department of Energy under the H2@Scale initiative and backed by the National Renewable Energy Lab.

The pandemic outbreak has impacted the overall market led by reduction in sales due to the delay of various projects along with limited investments from private & public players. The industry operations were shut down owing to governments restrictions followed by limited workforce during the outbreak. However, a considerable slowdown in the COVID- 19 cases followed by ongoing vaccination drive will positively accelerate the industry growth.

Innovative technological advancements, inorganic growth ventures, strategic implications, joint ventures, MoUs combined with mergers & acquisitions among prominent players will augment the industry outlook. For instance, in July 2021, Cummins and Air Products, a global supplier of hydrogen, signed a Memorandum of Understanding (MoU) to speed up the integration of hydrogen fuel cell trucks. This step comprising infrastructure opportunities increased the approachability of renewable hydrogen and promoted the implementation of hydrogen for mobility.

North America Fuel Cell Market Share

Key fuel cell market participants in North America include

  • Cummins Inc
  • Ballard Power Systems
  • Bloom Energy
  • Doosan Fuel Cell
  • Siemens Energy
  • SFC Energy AG
  • Aris Renewable Energy
  • Altergy
  • AFC Energy
  • Fuel Cell Energy
  • Fuji Electric
  • GenCell Ltd.
  • poscoenergy 

This market research report on North America fuel cell includes in-depth coverage of the industry with estimates & forecast in terms of ‘MW’ & ‘USD’ from 2022 to 2030, for the following segments:

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Market, By Product

  • DMFC
  • SOFC
  • PAFC & AFC
  • MCFC

Market, By Application

  • Stationary
  • Portable
  • Transport

The above information has been provided for the following countries:

  • North America
    • U.S
    • Canada


Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of fuel cell in North America is predicted to cross $1.2 billion by 2030 and may record a CAGR of 7% from 2022 to 2030.

The DMFC segment is likely to grow at more than 12% growth rate through 2030 owing to various benefits such as low operating temperature, improved energy density, and simple storage of methanol fuel.

Portable fuel cells are anticipated to observe over 6% CAGR in North America industry through 2030 as the region is witnessing a strong rise in its overall electricity consumption and these fuel cells can offer a continuous power supply for long hours.

Reputed organizations, such as PLUG POWER Inc, Ballard Power Systems, Cummins Inc, NUVERA FUEL CELLS, Doosan Fuel Cell, Bloom Energy, and Siemens Energy, among many others, are strengthening the regional market.

North America Fuel Cell Market Scope

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 19
  • Tables & Figures: 153
  • Countries covered: 2
  • Pages: 160
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