North America Energy Transition - Sector and Companies Driving Development - 2026

North America's energy transition has gained pace in recent years, propelled by policy support, strong demand, and technological innovations. The US and Canada have emerged as regional leaders; however, the current US administration may delay the region's energy transition as the legislative focus shifts away from clean energy technologies and back to conventional energy sources.

• Despite the region's continued reliance on natural gas and the current US administration's efforts to expand thermal generation, renewables are rapidly scaling due to substantial cost declines and state-level mandates.
• North America's energy storage capacity is dominated by the US, which has a strong standing in the current energy storage market. However, its forecasted growth is slower than the global average, as faster expansion in APAC, particularly in China, widens the gap. Tariffs on battery components and restrictions on FEOCS for the US's 48E tax credit could hamper its development in the region.
• Despite policy rollbacks in the US, North America's battery electric vehicle market is projected to grow strongly between 2025 and 2035, with a CAGR of 17%. In the US, support for EV adoption is shifting to the state level, whilst Canada's EV Affordability Program (2026) is targeting improved EV accessibility.
• Driven by the US, North America is the global leader in renewable fuel production, accounting for 50% of global refinery capacity in 2025. Comprehensive federal policies, such as the US's Renewable Fuel Standard and Canada's Clean Fuel Regulations, have bolstered the region's dominance.
• While other technologies have seen rollbacks in federal support under the Trump administration, including cuts to CCUS-focused clean energy demonstration projects, policy for CCUS has largely been preserved.
• North America has the largest active low-carbon hydrogen capacity and a pipeline with comparatively high levels of project maturity. However, market headwinds and policy rollbacks, particularly in the US, continue to cause uncertainty for project development, exemplified by ExxonMobil's decision to pause its Baytown Hydrogen Project.

Key Highlights

• By 2035, renewables are set to reach a 43% share of North America's power mix, an increase from its 32% share in 2025. Solar PV, alone, is set to account for 19% of the power mix by 2035.
• North America's energy storage capacity is dominated by the US, which has a strong standing in the current energy storage market, accounting for 15% of global energy storage capacity.
• Despite policy rollbacks in the US, North America's battery electric vehicle market is projected to grow strongly between 2025 and 2035, with a CAGR of 17%.
• Driven by the US, North America is the global leader in renewable fuel production, accounting for 50% of global refinery capacity in 2025.
• North America is one of the world's most active regions for CCUS, accounting for 59% of active capture capacity and 40% of planned capacity.

Scope

• North American leaders in energy transition technologies, Country net-zero targets, Key updates within US's energy transition in 2025, power demand, data centers, renewable power capacity and generation, decommissioning of thermal power, major players in renewable energy, energy storage capacity, major players in energy storage, electric vehicle outlook, EV charging infrastructure outlook, renewable refinery outlook, renewable fuels policies, SAF and renewable diesel capacities, CCUS outlook, facilities adopting CCUS in North America, largest upcoming carbon capture and storage projects, low-carbon hydrogen outlook, regional breakdown of hydrogen capacity, largest upcoming low-carbon hydrogen projects, hydrogen policies

Reasons to Buy

• Assess the current regional emissions, thermal and renewable capacity, and generation share, and identify which countries are driving the energy transition in North America
• Identify market trends within the industry, including expected 2030 capacities for a range of technologies
• Identify who the leading countries and regional players are in renewable energy capacity and energy transition technologies, such as hydrogen and CCUS
• Understand the legislative framework laid out by the region's governments aimed at accelerating the region's decarbonization and energy transition