U.S. Fuel Cell Market Size & Outlook, 2023-2030
U.S. fuel cell market, 2018-2030 (US$M)
Related Markets
U.S. fuel cell market highlights
- The U.S. fuel cell market generated a revenue of USD 1,132.2 million in 2023 and is expected to reach USD 4,698.1 million by 2030.
- The U.S. market is expected to grow at a CAGR of 22.5% from 2024 to 2030.
- In terms of segment, sofc was the largest revenue generating product in 2023.
- PAFC is the most lucrative product segment registering the fastest growth during the forecast period.
Fuel cell market data book summary
| Market revenue in 2023 | USD 1,132.2 million |
| Market revenue in 2030 | USD 4,698.1 million |
| Growth rate | 22.5% (CAGR from 2023 to 2030) |
| Largest segment | Sofc |
| Fastest growing segment | PAFC |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | PEMFC, PAFC, SOFC, MCFC |
| Key market players worldwide | Ballard Power Systems Inc, Bloom Energy Corp Class A, Ceres Power Holdings PLC, Doosan Fuel Cell Ordinary Shares, FuelCell Energy Inc, Plug Power Inc, SFC Energy AG, Cummins Inc, Nedstack Fuel Cell Technology, Hyster-Yale Materials Handling Inc Class A |
Other key industry trends
- In terms of revenue, U.S. accounted for 15.4% of the global fuel cell market in 2023.
- Country-wise, Japan is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. fuel cell market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 1,269.0 million by 2030.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Fuel Cell Market Scope
Fuel Cell Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
U.S. fuel cell market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to fuel cell market will help companies and investors design strategic landscapes.
Sofc was the largest segment with a revenue share of 46.28% in 2023. Horizon Databook has segmented the U.S. fuel cell market based on pemfc, pafc, sofc, mcfc covering the revenue growth of each sub-segment from 2018 to 2030.
The U.S. Department of Energy (DOE) and Department of Transportation (DOT) introduced a Hydrogen Posture Plan in December 2006. The aim of this plan was to enhance R&D and validate technologies that can be employed for setting up hydrogen infrastructure.
Moreover, this plan provided deliverables that were set by the Federal government to support the development of hydrogen infrastructure in the country. The plan was developed in accordance with the National Hydrogen Energy Vision and Roadmap.
In September 2011, DOE introduced Hydrogen and Fuel Cells Program Plan. This plan consisted of updates and amendments to the Hydrogen Posture Plan by analyzing its progress and as per the suggestions from stakeholders such as industry players and consumers.
Reasons to subscribe to U.S. fuel cell market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of U.S. fuel cell market databook
-
Our clientele includes a mix of fuel cell market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the U.S. fuel cell market , including forecasts for subscribers. This country databook contains high-level insights into U.S. fuel cell market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
U.S. fuel cell market size, by product, 2018-2030 (US$M)
U.S. Fuel Cell Market Outlook Share, 2023 & 2030 (US$M)
Related industry reports
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
