KEY FINDINGS The North America fuel cells market is continuously developing because of high investments and favourable support by the government. Over the projected years of 2018-2026, the market is predicted to exhibit a 16.91% CAGR and account for a revenue share of $4179 million.
MARKET INSIGHTS The North American market is segmented on the basis of applications and technology. The funding grant to various private organizations by the federal government of countries like the U.S and Canada is contributing to the growth of the fuel cell market in the North American region. The U.S fuel cells market dominated the region in 2017. The United States energy department has sanctioned a funding of around $ 50 million through REBELS program for the development of a fuel cell technology that focuses on low cost distributed power generation. Likewise, the Sustainable Development Technology in Canada has also announced a funding of around $10 million for Burnaby and BC Automotive Fuel Co-Operation to further strengthen the growth of the fuel cell market in the country.
COMPETITIVE INSIGHTS Ceres Power Holdings Plc, Fuelcell Energy Inc, Exxon Mobil Corporation, Hydrogenics Corporation, Toyota Motor Corporation, Sfc Energy Ag, AFC Energy Plc, Bloom Energy Corporation, Panasonic and Plug Power Inc are few of the noted players in this market.