United States Fuel Cell Market Forecast 2023-2028

United States Fuel Cell Market Forecast 2023-2028

KEY FINDINGS

The United States fuel cell market growth is anticipated to progress at a CAGR of 19.62% during the forecast period, 2023-2028. As of the conclusion of December 2022, there were more than 205 operational fuel cell electric power generators distributed across 147 sites within the United States. These generators collectively possessed a nameplate electric generation capacity of approximately 350 megawatts (MW).

MARKET INSIGHTS

In the United States, fuel cells are gaining prominence as a sustainable and efficient energy solution, offering a wide range of applications across various industries, including transportation, power generation, and industrial processes. The United States fuel cell market is witnessing a surge in demand driven by growing environmental concerns, government incentives, and advancements in fuel cell technology. Fuel cells are increasingly recognized as a viable alternative to traditional energy sources due to their lower emissions, higher efficiency, and versatility.

Further, the rising awareness of climate change and the growing need for cleaner energy sources are driving the adoption of fuel cells, as they produce electricity with minimal greenhouse gas emissions. In addition, federal and state governments are offering financial incentives, tax credits, and grants to promote the development and deployment of fuel cell technology, creating a favorable regulatory environment.

COMPETITIVE INSIGHTS

Some of the prominent companies in the market are Bloom Energy Corporation, Ballard Power Systems Inc, FuelCell Energy Inc, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments