North America Power-to-x Market Size & Outlook, 2024-2030

The power-to-x market in North America is expected to reach a projected revenue of US$ 141.3 million by 2030. A compound annual growth rate of 11.5% is expected of North America power-to-x market from 2025 to 2030.
Revenue, 2024 (US$M)
$74.8
Forecast, 2030 (US$M)
$141.3
CAGR, 2025 - 2030
11.5%
Report Coverage
North America

North America power-to-x market highlights

  • The North America power-to-x market generated a revenue of USD 74.8 million in 2024.
  • The market is expected to grow at a CAGR of 11.5% from 2025 to 2030.
  • In terms of segment, power-to-h2 was the largest revenue generating technology in 2024.
  • Power-to-Methanol is the most lucrative technology segment registering the fastest growth during the forecast period.
  • Country-wise, Canada is expected to register the highest CAGR from 2025 to 2030.

North America data book summary

Market revenue in 2024USD 74.8 million
Market revenue in 2030USD 141.3 million
Growth rate11.5% (CAGR from 2025 to 2030)
Largest segmentPower-to-h2
Fastest growing segmentPower-to-Methanol
Historical data covered2018 - 2023
Base year for estimation2024
Forecast period covered2025 - 2030
Quantitative unitsRevenue in USD million
Market segmentationPower-to-H2, Power-to-CO/Syngas/Formic Acid, Power-to-NH3, Power-to-Methane, Power-to-Methanol, Power-to-H202
Key market players worldwideAir Liquide SA, Alfa Laval AB, Copenhagen Infrastructure Partners, Engie SA, ITM Power PLC, Linde PLC, Mitsubishi Corp, Siemens Energy, Thyssenkrupp AG, Valmet Corp

Other key industry trends

  • In terms of revenue, North America region accounted for 21.6% of the global power-to-x market in 2024.
  • Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
  • MEA is the fastest growing regional market and is projected to reach USD 36.1 million by 2030.

Power-to-h2 was the largest segment with a revenue share of 49.33% in 2024. Horizon Databook has segmented the North America power-to-x market based on power-to-h2, power-to-co/syngas/formic acid, power-to-nh3, power-to-methane, power-to-methanol, power-to-h202 covering the revenue growth of each sub-segment from 2018 to 2030.


In North America, the Power-to-X (PtX) market is expanding rapidly due to a combination of supportive government policies and private sector investments. Supportive government policies are creating a favorable environment for the increased adoption of PtX technologies, which are considered essential for achieving ambitious climate targets and reducing greenhouse gas emissions.

For instance, in the U.S., federal and state incentives, such as those provided by the Inflation Reduction Act, are driving the development of hydrogen technologies and other PtX applications. Similarly, in Canada, the Hydrogen Strategy for Canada and investments in renewable energy infrastructure are encouraging the adoption of PtX technologies.

Increasing private sector investments in projects and technologies to improve the efficiency and scalability of PtX solutions also bode well for the growth of the regional market. Both energy and technology companies are working on scaling up hydrogen production, enhancing electrolyzer technologies, and developing infrastructure for hydrogen storage and transport.

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Power-to-X Market Companies

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North America power-to-x market size, by country, 2018-2030 (US$M)

North America Power-to-X Market Outlook Share, 2024 & 2030 (US$M)

North America power-to-x market size, by country, 2018-2030 (US$M)

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