North America Solid Oxide Fuel Cell Market Size & Outlook

The solid oxide fuel cell market in North America is expected to reach a projected revenue of US$ 598.0 million by 2030. A compound annual growth rate of 16.9% is expected of North America solid oxide fuel cell market from 2023 to 2030.
Revenue, 2022 (US$M)
$171.8
Forecast, 2030 (US$M)
$598.0
CAGR, 2023 - 2030
16.9%
Report Coverage
North America

North America solid oxide fuel cell market highlights

  • The North America solid oxide fuel cell market generated a revenue of USD 171.8 million in 2022.
  • The market is expected to grow at a CAGR of 16.9% from 2023 to 2030.
  • In terms of segment, stationary was the largest revenue generating application in 2022.
  • Transportation is the most lucrative application segment registering the fastest growth during the forecast period.
  • Country-wise, U.S. is expected to register the highest CAGR from 2023 to 2030.


North America data book summary

Market revenue in 2022USD 171.8 million
Market revenue in 2030USD 598.0 million
Growth rate16.9% (CAGR from 2022 to 2030)
Largest segmentStationary
Fastest growing segmentTransportation
Historical data covered2018 - 2021
Base year for estimation2022
Forecast period covered2023 - 2030
Quantitative unitsRevenue in USD million
Market segmentationStationary, Transportation, Portable
Key market players worldwideBloom Energy Corp Class A, Mitsubishi Corp, Cummins Inc, Ceres Power Holdings PLC, GE Aerospace, FuelCell Energy Inc, Kyocera Corp, Avalon Advanced Materials Inc, Niterra Co Ltd


Other key industry trends

  • In terms of revenue, North America region accounted for 37.5% of the global solid oxide fuel cell market in 2022.
  • Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
  • Asia Pacific is the fastest growing regional market and is projected to reach USD 3,107.7 million by 2030.

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Solid Oxide Fuel Cell Market Scope

Solid oxide fuel cell market segmentation & scope

Solid Oxide Fuel Cell Market Companies

Name Profile # Employees HQ Website

North America solid oxide 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 solid oxide fuel cell market will help companies and investors design strategic landscapes.


Stationary was the largest segment with a revenue share of 76.37% in 2022. Horizon Databook has segmented the North America solid oxide fuel cell market based on stationary, transportation, portable covering the revenue growth of each sub-segment from 2018 to 2030.


Countries such as the U.S. and Canada provide substantial funds in this regard. These funds are likely to aid advancements in research & development activities for solid oxide fuel cell technologies and the development of cost-effective parts for solid oxide fuel cell systems. 

For instance, in the U.S., the Department of Energy (DOE) provides funding for fuel cell development through programs such as Fuel Cell Technologies Office (FCTO) and Solid Oxide Fuel Cell (SOFC) program.

In 2017, the country’s government called parties that were interested in receiving this fund. Such funding initiatives by the governments in the U.S. and Canada have driven the growth of the market for solid oxide fuel cell system development & deployment in North America.\

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Horizon Databook provides a detailed overview of continent-level data and insights on the North America solid oxide fuel cell market , including forecasts for subscribers. This continent databook contains high-level insights into North America solid oxide fuel cell market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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North America solid oxide fuel cell market size, by country, 2018-2030 (US$M)

North America Solid Oxide Fuel Cell Market Outlook Share, 2022 & 2030 (US$M)

North America solid oxide fuel cell market size, by country, 2018-2030 (US$M)

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