The United States has long been a leader in global energy innovation and has led the world in the production & distribution of gaseous liquid hydrogen
Fuel cell technologies and hydrogen energy are being commercialized in the US and abroad. The US is among the leading countries in moving towards broad commercialization of fuel cells and hydrogen energy. With over 7,600 fuel cell electric vehicles (FCEVs) currently on the road – more than any other country – the US is home to more than half of the global FCEV stock. In addition, the US is a global leader in the development of fuel cell applications that compete with incumbent technologies.
For example, more than 25,000 fuel cell–powered material handling products, such as forklifts, are operating in warehouses and distribution facilities across the country.
The estimated value of the domestic market of hydrogen in Canada is expected to be almost $50 billion per year by 2050
To evaluate the role hydrogen can play in reaching Canada’s goal of becoming net-zero by 2050, modelling analysis was undertaken for an incremental scenario and a transformative scenario, to understand hydrogen’s potential in the broader energy system, alongside electrification and other low-carbon fuels. These scenarios are more likely to be achieved with strong pricing and regulatory incentives to drive hydrogen adoption, and alignment action across government and industry.
Considering only the domestic demand for hydrogen production and revenues from the local manufacturing and services, the hydrogen and fuel cell sector has the potential to generate almost $50 billion in sector revenue in 2050 under the Transformative scenario in Canada. The estimated value of the domestic market is expected to be almost $50 billion per year by 2050.