U.S. Solid Oxide Fuel Cell Market Size & Outlook
U.S. solid oxide fuel cell market, 2018-2030 (US$M)
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U.S. solid oxide fuel cell market highlights
- The U.S. solid oxide fuel cell market generated a revenue of USD 138.7 million in 2022 and is expected to reach USD 480.6 million by 2030.
- The U.S. market is expected to grow at a CAGR of 16.8% 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.
Solid oxide fuel cell market data book summary
| Market revenue in 2022 | USD 138.7 million |
| Market revenue in 2030 | USD 480.6 million |
| Growth rate | 16.8% (CAGR from 2022 to 2030) |
| Largest segment | Stationary |
| Fastest growing segment | Transportation |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Stationary, Transportation, Portable |
| Key market players worldwide | Bloom 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, U.S. accounted for 30.3% of the global solid oxide fuel cell market in 2022.
- Country-wise, Japan is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. solid oxide fuel cell market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 480.6 million by 2030.
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Solid Oxide Fuel Cell Market Scope
Solid Oxide Fuel Cell Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. 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 76.21% in 2022. Horizon Databook has segmented the U.S. solid oxide fuel cell market based on stationary, transportation, portable covering the revenue growth of each sub-segment from 2018 to 2030.
The U.S. is among the early adopters of clean energy solutions in the world for sectors such as power generation and transportation. This can be attributed to increased importance given to clean energy solutions as per the energy act introduced by the U.S. government.
Such acts have provided a starting guideline regarding the implementation of clean energy solutions in the country’s energy sector. Moreover, based on these acts, relevant policies and regulations have been established to cater to different aspects of distinct sectors such as power generation and transportation.
Majority of the U.S. states such as California and New York have set mandates to limit the carbon footprint of commercial and industrial end users in the country. These factors have resulted in end users opting for clean energy technologies to follow the mandate and limit their carbon footprint.
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Our clientele includes a mix of solid oxide fuel cell market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. solid oxide fuel cell market , including forecasts for subscribers. This country databook contains high-level insights into U.S. solid oxide fuel cell market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. solid oxide fuel cell market size, by application, 2018-2030 (US$M)
U.S. Solid Oxide Fuel Cell Market Outlook Share, 2022 & 2030 (US$M)
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