Fuel Cell Market In North America 2024-2028
The fuel cell market in North America is forecasted to grow by USD 5.08 bn during 2023-2028, accelerating at a CAGR of 21.34% during the forecast period. The report on the fuel cell market in North America provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing focus on adoption of hydrogen economy, integration of fuel cells with energy storage systems, and rising innovations supporting energy efficiency in fuel cell.
Technavio's fuel cell market in North America is segmented as below:
By Application
- Stationary
- Transport
- Portable
By Product
This study identifies the rising adoption of solid oxide electrolyzers as one of the prime reasons driving the fuel cell market in North America growth during the next few years. Also, increasing adoption of fuel cells in transportation and emergence of self-healing membranes in fuel cells will lead to sizable demand in the market.
The report on the fuel cell market in North America covers the following areas:
- Fuel cell market in North America sizing
- Fuel cell market in North America forecast
- Fuel cell market in North America industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading fuel cell market in North America vendors that include Acumentrics Inc., AVL List GmbH, Ballard Power Systems Inc., Bloom Energy Corp., BorgWarner Inc., Cummins Inc., Doosan Corp., ellcentric GmbH and Co. KG, FuelCell Energy Inc., General Motors Co., Hyster Yale Materials Handling Inc., Loop Energy Inc., Plug Power Inc., SFC Energy AG, The Symbio SAS, and Watt Fuel Cell Corp.. Also, the fuel cell market in North America analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.