Canada is a country in North America with a population of 3.85 million. Canada is currently the thirteen-largest auto-producing nation in the world and the seventh-largest auto exporter by value. The government's focus on environmental protection from harmful emissions by automobiles has led to the growth of automotive fuel cells among the Canadian population. Fuel cells work like batteries, but they do not run down or need recharging. They produce electricity and heat as long as fuel is supplied. The government of Canada released its Fall Economic Statement, which introduced several new energy-based initiatives that could benefit the hydrogen and fuel cell industries in the country. Included in these initiatives is the government’s plan to modernise federal regulations to support the development and deployment of emerging technologies. Ballard Power System provides its fuel cells to many automobile companies and provides the best services. According to the report titled "Canada Automotive Fuel Cell Market Overview, 2027" published by Bonafide Research, the automotive fuel cell market in the country of Canada is expected to grow at a CAGR of around 33% in value market size by the end of the forecast period. In Canada, various segments of automotive fuel cells are available. PEMFCs are in high demand among automakers due to their electrolyte type. Hydrogen fuel cells are in heavy demand due to their benefits like fast start-up and compact design. On the basis of power output, there are three types of fuel cells: below 100 Kilowatt power fuel cell, 100 to 200 KW power fuel cell, and above 200 KW power fuel. Among three below 100 KW power fuel cells, one is most commonly used by Canadians due to its easy availability and low cost. An alkaline fuel cell uses a solution of potassium hydroxide in water as the electrolyte and can use a variety of non-precious metals as catalysts at the anode and cathode. The CAGR of DMFC from 2016 to 2021 was low, but it is expected that during the forecasted period its CAGR will grow more as compared to past data. The market attractiveness of hydrogen fuel cells is high as compared to methanol fuel cells because hydrogen fuel cells (HFCs) produce no harmful emissions, eliminating the costs associated with handling and storing toxic materials. It is expected that by 2027, the market attractiveness of HFCs will be at its maximum. Automotive fuel cells that generate an output of less than 100 kilowatts are considered below 100 KW power fuel cells. Its demand is high among people because it was the first introduced into the market and is suitable for cars. 100 to 200 KW power fuel cells and above 200 KW power fuel cells are mostly used for heavy vehicles and are more suitable for commercial vehicles. The market share of below 100 KW power fuel cells is expected to grow vigorously by 2027. The government's focus on zero emissions, government incentives, being more effective than batteries, and other factors all contribute to the growth of the automotive fuel cell market. On the other hand, the factors which restrict its growth are the durability of fuel cells, high cost, and lack of infrastructure for its refuelling. Ballard Power Systems (BLDP) is building a clean energy growth company. Ballard Power Systems is recognised as a world leader in proton exchange membrane ("PEM") fuel cell power system development and commercialization. The company's principal business is the design, development, manufacture, sale, and service of PEM fuel cell products for a variety of applications, focusing on its power product markets of Heavy-Duty Motive (consisting of bus, truck, rail, and marine applications), Portable Power, Material Handling, and Backup Power, as well as the delivery of technology solutions, including engineering services, technology transfer, and the licence and sale of its extensive intellectual property portfolio and fundamental knowledge for a variety of fuel cell applications. COVID-19 affected the industry by forcing the manufacturers to shut down the assembly lines and pushing the economy down. With almost zero vehicular movements, there wasn't any new requirement for fuel cells to be installed into new vehicles and spare fuel cells for replacements in already existing vehicles. Considered in this report • Geography: Canada • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Canada Automotive Fuel Cell market and its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Five force models • Top profiled companies • Strategic recommendation Fuel cell by Electrolyte type • Proton Exchange Membrane Fuel Cell (PEMFC) • Direct Methanol Fuel Cell (DMFC) • Others (Alkaline fuel cell and Phosphoric acid fuel cell) Fuel cell by Fuel type • Hydrogen fuel • Methanol fuel Fuel cell by Power output • Below 100 KW • 100 to 200 KW • Above 200 KW The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to electric vehicle charging station industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globallyDownload Sample