North America Hydrogen Fuel Cell Train Market Forecast to 2030 - Regional Analysis

Description

List of Tables

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.

Product Code: BMIRE00029819

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 Insight Partners