North America Hydrogen Fuel Cell Train Market Forecast to 2030

North America Hydrogen Fuel Cell Train Market Forecast to 2030

North America Hydrogen Fuel Cell Train Market Forecast to 2030 – Regional Analysis – by Technology (Proton Exchange Membrane Fuel Cell, Phosphoric Acid Fuel Cell, and Others), Component (Hydrogen Fuel Cell Pack, Batteries, Electric Traction Motors, and Others), and Rail Type (Passenger Rail, Commuter Rail, Light Rail, Trams, Freight, and Others)

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Description

The North America hydrogen fuel cell train market was valued at US$ 176.50 million in 2022 and is expected to reach US$ 381.14 million by 2030; it is estimated to grow at a CAGR of 10.1% from 2022 to 2030.

Increasing Environmental Concerns and Reducing Greenhouse Gas Emissions Fuel North America Hydrogen Fuel Cell Train Market

Changing world scenarios due to pollution control and mitigating greenhouse gas emissions for a polluted environment positively influence the hydrogen fuel cell train market. The primary component of a hydrogen fuel cell train is hydrogen. Hydrogen fuel cell utilizes the chemical energy of hydrogen to generate electricity. The process comprises an electrochemical reaction between oxygen and hydrogen, producing water as waste products. The transportation sector contributes a fair share in polluting the environment by utilizing fossil fuels, which increases the carbon footprint and boosts air pollution. In 2022, the CO2 emissions from the transportation sector increased by over 250 metric tons of CO2 and touched 8 Gigatonne (GT) CO2, 3% more than in 2021. The growing government concern toward achieving the net zero carbon emission targets of different countries is fueling the application of eco-friendly alternatives such as hydrogen as the key component for running vehicles and trains instead of conventional diesel engines. For instance, the US government has set a target of reducing carbon emissions by 50-52% by 2030. Canada aimed at lowering 40-45% carbon footprints by 2030.

North America Hydrogen Fuel Cell Train Market Overview

The North America hydrogen fuel cell train market is further segmented into the US, Canada, and Mexico. In 2023, the North America’s first-ever hydrogen train started to operate in Canada. One of the major factors driving the growth of hydrogen fuel cell train market in North America region is the presence of vendors such as Alstom and Ballard Power Systems. These companies have become one of the pioneers in the hydrogen fuel cell technologies for hydrogen fuel cell trains across the world. Many countries have already provided contracts for hydrogen fuel cell train technologies to these companies to advance their rail infrastructure and take a strong step toward a zero-emission future. In 2022, Stadler Rail-one of the rolling stock manufacturers-provided a contract to Ballard Power Systems to provide its hydrogen fuel cell products for the first hydrogen train in the US. Such developments have been driving the growth for hydrogen fuel cell train market across North America.

North America Hydrogen Fuel Cell Train Market Revenue and Forecast to 2030 (US$ Million)

North America Hydrogen Fuel Cell Train Market Segmentation

The North America hydrogen fuel cell train market is bifurcated based on technology, component, rail type, and country. Based on technology, the North America hydrogen fuel cell train market is segmented into proton exchange membrane fuel cell, phosphoric acid fuel cell, and others. The proton exchange membrane fuel cell segment held the largest market share in 2022.

Based on component, the North America hydrogen fuel cell train market is segmented into hydrogen fuel cell pack, batteries, electric traction motors, and others. The hydrogen fuel cell pack segment held the largest market share in 2022.

Based on rail type, the North America hydrogen fuel cell train market is segmented into passenger rail, commuter rail, light rail, trams, freight, and others. The commuter rail segment held the largest market share in 2022.

Based on country, the North America hydrogen fuel cell train market is segmented into the US, Canada, and Mexico. The US dominated the North America hydrogen fuel cell train market share in 2022.

TWI Ltd, CRRC Corp Ltd, Hyundai Rotem Co, Stadler Rail AG, Talgo SA, Ballard Power Systems Inc, Alstom SA, Siemens Mobility GmbH, and Westinghouse Air Brake Technologies Corp are some of the leading companies operating in the North America hydrogen fuel cell train market.

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At 10.1% CAGR, the North America Hydrogen Fuel Cell Train Market is Speculated to be worth US$ 381.14 million by 2030, Says the Research Team

According to the Research Team’ research, the North America hydrogen fuel cell train market was valued at US$ 176.50 million in 2022 and is expected to reach US$ 381.14 million by 2030, registering a CAGR of 10.1% from 2022 to 2030. Growing advent of hydrogen fuel cell technology in transportation and growing efficiency of hydrogen-driven vehicles are among the critical factors attributed to the North America hydrogen fuel cell train market expansion.

Hydrogen fuel cells are anticipated to provide long-haul and heavy-duty vehicle transport solutions. Hydrogen fuel cell technology can be advantageous in areas where sufficient and accessible electrical charging infrastructure lags. In contrast to batteries, fuel cells generate electricity from accumulated hydrogen by leveraging electrochemical procedures. When traveling in remote locations and areas where a smaller number of charging stations are available, fuel cell technology can be beneficial. The growing focus on producing hydrogen fuel cells for better consumer reach and using advanced technologies to produce green hydrogen for zero carbon emission are some of the major trends in the market.

On the contrary, high capital requirement for developing hydrogen fuel cell technology hampers the growth of North America hydrogen fuel cell train market.

Based on technology, the North America hydrogen fuel cell train market is categorized into proton exchange membrane fuel cell, phosphoric acid fuel cell, and others. The proton exchange membrane fuel cell segment held 100.0% market share in 2022, amassing US$ 176.50 million. It is projected to garner US$ 380.64 million by 2030 to expand at 10.1% CAGR during 2022-2030.

Based on component, the North America hydrogen fuel cell train market is categorized into hydrogen fuel cell pack, batteries, electric traction motors, and others. The hydrogen fuel cell pack segment held 41.4% share of North America hydrogen fuel cell train market in 2022, amassing US$ 73.13 million. It is projected to garner US$ 151.77 million by 2030 to expand at 9.6% CAGR during 2022-2030.

Based on rail type, the North America hydrogen fuel cell train market is categorized into passenger rail, commuter rail, light rail, trams, freight, and others. The commuter rail segment held 100.0% share of North America hydrogen fuel cell train market in 2022, amassing US$ 176.50 million. It is projected to garner US$ 378.39 million by 2030 to expand at 10.0% CAGR during 2022-2030.

Based on country, the North America hydrogen fuel cell train market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 53.8% share of North America hydrogen fuel cell train market in 2022. It was assessed at US$ 94.89 million in 2022 and is likely to hit US$ 199.45 million by 2030, exhibiting a CAGR of 9.7% during 2022-2030.

Key players operating in the North America hydrogen fuel cell train market are TWI Ltd, CRRC Corp Ltd, Hyundai Rotem Co, Stadler Rail AG, Talgo SA, Ballard Power Systems Inc, Alstom SA, Siemens Mobility GmbH, and Westinghouse Air Brake Technologies Corp, among others.

In Aug 2023, Hydrogen will ‘almost always’ lose out to battery-electric in German rail transport: train manufacturer.

In Jan 2023, First hydrogen-powered trains by CRRC and Woojin.

o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America hydrogen fuel cell train market.
o Highlights key business priorities in order to assist companies to realign their business strategies
o The key findings and recommendations highlight crucial progressive industry trends in the North America hydrogen fuel cell train market, thereby allowing players across the value chain to develop effective long-term strategies
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
o Scrutinize in-depth North America market trends and outlook coupled with the factors driving the North America hydrogen fuel cell train market, as well as those hindering it
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

TABLE OF CONTENTS

1. Introduction
1.1 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Hydrogen Fuel Cell Train Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 Component Supplier
4.2.2 Hydrogen Fuel Cell Train Manufacturer
4.2.3 End Users
4.2.4 List of Hydrogen Fuel Cell Suppliers
5. North America Hydrogen Fuel Cell Train Market – Key Industry Dynamics
5.1 Hydrogen Fuel Cell Train Market – Key Industry Dynamics
5.2 Market Drivers
5.2.1 Increasing Environmental Concerns and Reducing Greenhouse Gas Emissions
5.2.2 Technological and Infrastructure Development in Transportation Sector
5.2.3 Growing Efficiency of Hydrogen-Driven Vehicles
5.2.4 Increasing Demand for Public Transportation Connectivity
5.3 Market Restraints
5.3.1 High Capital Requirement for Developing Hydrogen Fuel Cell Technology
5.3.2 High Risk, Cost, and Regulatory Framework Associated with Hydrogen Procurement
5.4 Market Opportunities
5.4.1 Increasing Proliferation of Proton Exchange Membrane Fuel Cell Technology
5.5 Future Trends
5.5.1 Growing Advent of Hydrogen Fuel Cell Technology in Transportation
5.6 Impact of Drivers and Restraints:
6. Hydrogen Fuel Cell Train Market – North America Market Analysis
6.1 North America Hydrogen Fuel Cell Train Market Revenue (US$ Million), 2022 – 2030
6.2 Hydrogen Fuel Cell Train Market Forecast and Analysis
7. North America Hydrogen Fuel Cell Train Market Analysis – Technology
7.1.1 Hydrogen Fuel Cell Train Market, By Technology (2022 and 2030)
7.2 Proton Exchange Membrane Fuel Cell
7.2.1 Overview
7.2.2 Proton Exchange Membrane Fuel Cell Market, Revenue and Forecast to 2030 (US$ Million)
7.3 Phosphoric Acid Fuel Cell
7.3.1 Overview
7.3.2 Phosphoric Acid Fuel Cell Market, Revenue and Forecast to 2030 (US$ Million)
7.4 Others
7.4.1 Overview
7.4.2 Others Market, Revenue and Forecast to 2030 (US$ Million)
8. North America Hydrogen Fuel Cell Train Market Analysis – Component
8.1.1 Hydrogen Fuel Cell Train Market, By Component (2022 and 2030)
8.2 Hydrogen Fuel Cell Pack
8.2.1 Overview
8.2.2 Hydrogen Fuel Cell Pack Market, Revenue and Forecast to 2030 (US$ Million)
8.3 Batteries
8.3.1 Overview
8.3.2 Batteries Market, Revenue and Forecast to 2030 (US$ Million)
8.4 Electric Traction Motors
8.4.1 Overview
8.4.2 Electric Traction Motors Market, Revenue and Forecast to 2030 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others Market, Revenue and Forecast to 2030 (US$ Million)
9. North America Hydrogen Fuel Cell Train Market Analysis – Rail Type
9.1.1 Hydrogen Fuel Cell Train Market, By Rail Type (2022 and 2030)
9.2 Passenger Rail
9.2.1 Overview
9.2.2 Passenger Rail Market, Revenue and Forecast to 2030 (US$ Million)
9.3 Commuter Rail
9.3.1 Overview
9.3.2 Commuter Rail Market, Revenue and Forecast to 2030 (US$ Million)
9.4 Light Rail
9.4.1 Overview
9.4.2 Light Rail Market, Revenue and Forecast to 2030 (US$ Million)
9.5 Trams
9.5.1 Overview
9.5.2 Trams Market, Revenue and Forecast to 2030 (US$ Million)
9.6 Freight
9.6.1 Overview
9.6.2 Freight Market, Revenue and Forecast to 2030 (US$ Million)
10. North America Hydrogen Fuel Cell Train Market – Country Analysis
10.1 North America
10.1.1 Overview
10.1.2 North America Hydrogen Fuel Cell Train Market Revenue and Forecasts and Analysis – By Country
10.1.2.1 US Hydrogen Fuel Cell Train Market Revenue and Forecasts To 2030 (US$ Mn)
10.1.2.1.1 United States Hydrogen Fuel Cell Train Market Breakdown by Technology
10.1.2.1.2 United States Hydrogen Fuel Cell Train Market Breakdown by Component
10.1.2.1.3 United States Hydrogen Fuel Cell Train Market Breakdown by Rail Type
10.1.2.2 Canada Hydrogen Fuel Cell Train Market Revenue and Forecasts To 2030 (US$ Mn)
10.1.2.2.1 Canada Hydrogen Fuel Cell Train Market Breakdown by Technology
10.1.2.2.2 Canada Hydrogen Fuel Cell Train Market Breakdown by Component
10.1.2.2.3 Canada Hydrogen Fuel Cell Train Market Breakdown by Rail Type
10.1.2.3 Mexico Hydrogen Fuel Cell Train Market Revenue and Forecasts To 2030 (US$ Mn)
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 TWI Ltd
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 CRRC Corp Ltd
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Hyundai Rotem Co
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Stadler Rail AG
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Talgo SA
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Ballard Power Systems Inc
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Alstom SA
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Siemens Mobility GmbH
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Westinghouse Air Brake Technologies Corp
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
13. Appendix
13.1 About the Research Team

LIST OF TABLES

Table 1. List of Vendors in the Value Chain
Table 2. Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Million) – Technology
Table 4. Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Million) – Component
Table 5. Hydrogen Fuel Cell Train Market Revenue and Forecasts to 2030 (US$ Million) – Rail Type
Table 6. United States Hydrogen Fuel Cell Train Market Revenue and Forecasts To 2030 (US$ Mn) – Technology
Table 7. United States Hydrogen Fuel Cell Train Market Revenue and Forecasts To 2030 (US$ Mn) – Component
Table 8. United States Hydrogen Fuel Cell Train Market Revenue and Forecasts To 2030 (US$ Mn) – Rail Type
Table 9. Canada Hydrogen Fuel Cell Train Market Revenue and Forecasts To 2030 (US$ Mn) – Technology
Table 10. Canada Hydrogen Fuel Cell Train Market Revenue and Forecasts To 2030 (US$ Mn) – Component
Table 11. Canada Hydrogen Fuel Cell Train Market Revenue and Forecasts To 2030 (US$ Mn) – Rail Type

LIST OF FIGURES

Figure 1. Hydrogen Fuel Cell Train Market Segmentation, By Country
Figure 2. Ecosystem: Hydrogen Fuel Cell Train Market
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. North America Hydrogen Fuel Cell Train Market Revenue (US$ Million), 2022 – 2030
Figure 5. Hydrogen Fuel Cell Train Market Share (%) – Technology, 2022 and 2030
Figure 6. Proton Exchange Membrane Fuel Cell Market Revenue and Forecasts to 2030 (US$ Million)
Figure 7. Phosphoric Acid Fuel Cell Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Hydrogen Fuel Cell Train Market Share (%) – Component, 2022 and 2030
Figure 10. Hydrogen Fuel Cell Pack Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. Batteries Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Electric Traction Motors Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. Hydrogen Fuel Cell Train Market Share (%) – Rail Type, 2022 and 2030
Figure 15. Passenger Rail Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. Commuter Rail Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. Light Rail Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. Trams Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. Freight Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. North America Hydrogen Fuel Cell Train Market, by Key Country – Revenue (2022) (US$ Million)
Figure 21. Hydrogen Fuel Cell Train Market Breakdown by Key Country, 2022 and 2030 (%)
Figure 22. US Hydrogen Fuel Cell Train Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 23. Canada Hydrogen Fuel Cell Train Market Revenue and Forecasts To 2030 (US$ Mn)

The List of Companies – North America Hydrogen Fuel Cell Train Market

1. TWI Ltd
2. CRRC Corp Ltd
3. Hyundai Rotem Co
4. Stadler Rail AG
5. Talgo SA
6. Ballard Power Systems Inc
7. Alstom SA
8. Siemens Mobility GmbH
9. Westinghouse Air Brake Technologies Corp

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