Investor Presentaiton
7
2030E Total Addressable Market (TAM)1
Ballard focuses on applications with large addressable markets & difficult to abate emission profiles,
incl. mobility applications requiring quick refueling, heavy payload, long range & high availability
BUS
Truck
Rail
Marine
Emerging Markets Stationary Power
Total
Addressable
Market ($B)
~$15
~$195
~$7
~$40
~$50
SAM*
Fuel Cell TAM
2030 ($B)
~$2.0
~$7.5
~$0.2
~$0.4
~$1.5
~$4.0
FC Adoption
(2030e)
~10-15%
~2-5%
<5%
<5%
<5%
FC Volumes
(per year)
50k transit
coach buses
LD Truck: 150k
MHD Truck: 150k
550 passenger
+ freight trains
350 ships
25k off-road
vehicles
4,100 MW
BLDP
Market Share
(2030e)
~15%
~10%
~40%
~20%
~10%
~15%
BLDP
US >90%
Market Share
(2022e)
EU >70%
China >25%
US ~10%
EU ~10%
China >30%
>40%
~50%
1, 2, 3, 4, 5 See Slide Notes
~30%
(PEM only)
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