United States Fuel Cell Market Forecast 2023-2028

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

Product Code: 71178

1. RESEARCH SCOPE & METHODOLOGY

1.1. STUDY OBJECTIVES
1.2. SCOPE OF STUDY
1.3. METHODOLOGY
1.4. ASSUMPTIONS & LIMITATIONS

2. EXECUTIVE SUMMARY

2.1. MARKET SIZE & ESTIMATES
2.2. COUNTRY SNAPSHOT
2.3. COUNTRY ANALYSIS
2.4. KEY GROWTH ENABLERS
2.5. KEY CHALLENGES

3. KEY ANALYTICS

3.1. CRISIS SCENARIO ANALYSIS
- 3.1.1. IMPACT OF COVID-19 ON FUEL CELL MARKET
3.2. PESTLE ANALYSIS
- 3.2.1. POLITICAL
- 3.2.2. ECONOMICAL
- 3.2.3. SOCIAL
- 3.2.4. TECHNOLOGICAL
- 3.2.5. LEGAL
- 3.2.6. ENVIRONMENT
3.3. KEY MARKET TRENDS
3.4. PORTER'S FIVE FORCES ANALYSIS
- 3.4.1. BUYERS POWER
- 3.4.2. SUPPLIERS POWER
- 3.4.3. SUBSTITUTION
- 3.4.4. NEW ENTRANTS
- 3.4.5. INDUSTRY RIVALRY
3.5. MARKET CONCENTRATION ANALYSIS

4. MARKET BY APPLICATION

4.1. STATIONARY
- 4.1.1. MARKET FORECAST FIGURE
- 4.1.2. SEGMENT ANALYSIS
4.2. TRANSPORTATION
- 4.2.1. MARKET FORECAST FIGURE
- 4.2.2. SEGMENT ANALYSIS
4.3. PORTABLE
- 4.3.1. MARKET FORECAST FIGURE
- 4.3.2. SEGMENT ANALYSIS

5. MARKET BY TYPE

5.1. POLYMER ELECTROLYTE MEMBRANE FUEL CELLS (PEMFC)
- 5.1.1. MARKET FORECAST FIGURE
- 5.1.2. SEGMENT ANALYSIS
5.2. PHOSPHORIC ACID FUEL CELLS (PAFCS)
- 5.2.1. MARKET FORECAST FIGURE
- 5.2.2. SEGMENT ANALYSIS
5.3. SOLID OXIDE FUEL CELLS (SOFCS)
- 5.3.1. MARKET FORECAST FIGURE
- 5.3.2. SEGMENT ANALYSIS
5.4. MOLTEN CARBONATE FUEL CELLS (MCFCS)
- 5.4.1. MARKET FORECAST FIGURE
- 5.4.2. SEGMENT ANALYSIS
5.5. OTHER TYPES
- 5.5.1. MARKET FORECAST FIGURE
- 5.5.2. SEGMENT ANALYSIS

6. COMPETITIVE LANDSCAPE

6.1. KEY STRATEGIC DEVELOPMENTS
- 6.1.1. MERGERS & ACQUISITIONS
- 6.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
- 6.1.3. PARTNERSHIPS & AGREEMENTS
6.2. COMPANY PROFILES
- 6.2.1. AISIN CORPORATION
  - 6.2.1.1. COMPANY OVERVIEW
  - 6.2.1.2. PRODUCTS LIST
  - 6.2.1.3. STRENGTHS & CHALLENGES
- 6.2.2. BALLARD POWER SYSTEMS INC
  - 6.2.2.1. COMPANY OVERVIEW
  - 6.2.2.2. PRODUCTS LIST
  - 6.2.2.3. STRENGTHS & CHALLENGES
- 6.2.3. BLOOM ENERGY CORPORATION
  - 6.2.3.1. COMPANY OVERVIEW
  - 6.2.3.2. PRODUCTS LIST
  - 6.2.3.3. STRENGTHS & CHALLENGES
- 6.2.4. CUMMINS INC
  - 6.2.4.1. COMPANY OVERVIEW
  - 6.2.4.2. PRODUCTS LIST
  - 6.2.4.3. STRENGTHS & CHALLENGES
- 6.2.5. DOOSAN FUEL CELL CO LTD
  - 6.2.5.1. COMPANY OVERVIEW
  - 6.2.5.2. PRODUCTS LIST
  - 6.2.5.3. STRENGTHS & CHALLENGES
- 6.2.6. FUELCELL ENERGY INC
  - 6.2.6.1. COMPANY OVERVIEW
  - 6.2.6.2. PRODUCTS LIST
  - 6.2.6.3. STRENGTHS & CHALLENGES
- 6.2.7. NEDSTACK FUEL CELL TECHNOLOGY BV
  - 6.2.7.1. COMPANY OVERVIEW
  - 6.2.7.2. PRODUCTS LIST
- 6.2.8. NUVERA FUEL CELLS LLC
  - 6.2.8.1. COMPANY OVERVIEW
  - 6.2.8.2. PRODUCTS LIST
- 6.2.9. PLUG POWER INC
  - 6.2.9.1. COMPANY OVERVIEW
  - 6.2.9.2. PRODUCTS LIST
  - 6.2.9.3. STRENGTHS & CHALLENGES
- 6.2.10. SFC ENERGY AG
  - 6.2.10.1. COMPANY OVERVIEW
  - 6.2.10.2. PRODUCTS LIST
  - 6.2.10.3. STRENGTHS & CHALLENGES

Product Code: 71178

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT - FUEL CELL
TABLE 2: UNITED STATES - COUNTRY SNAPSHOT
TABLE 3: UNITED STATES FUEL CELL MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 4: UNITED STATES FUEL CELL MARKET, BY APPLICATION, FORECAST YEARS, 2023-2028 (IN $ MILLION)
TABLE 5: UNITED STATES FUEL CELL MARKET, BY TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 6: UNITED STATES FUEL CELL MARKET, BY TYPE, FORECAST YEARS, 2023-2028 (IN $ MILLION)
TABLE 7: LIST OF MERGERS & ACQUISITIONS
TABLE 8: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 9: LIST OF PARTNERSHIPS & AGREEMENTS

LIST OF FIGURES

FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER'S FIVE FORCES ANALYSIS
FIGURE 3: MARKET CONCENTRATION ANALYSIS
FIGURE 4: UNITED STATES FUEL CELL MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2022
FIGURE 5: UNITED STATES FUEL CELL MARKET, BY STATIONARY, 2023-2028 (IN $ MILLION)
FIGURE 6: UNITED STATES FUEL CELL MARKET, BY TRANSPORTATION, 2023-2028 (IN $ MILLION)
FIGURE 7: UNITED STATES FUEL CELL MARKET, BY PORTABLE, 2023-2028 (IN $ MILLION)
FIGURE 8: UNITED STATES FUEL CELL MARKET, GROWTH POTENTIAL, BY TYPE, IN 2022
FIGURE 9: UNITED STATES FUEL CELL MARKET, BY POLYMER ELECTROLYTE MEMBRANE FUEL CELLS (PEMFC), 2023-2028 (IN $ MILLION)
FIGURE 10: UNITED STATES FUEL CELL MARKET, BY PHOSPHORIC ACID FUEL CELLS (PAFCS), 2023-2028 (IN $ MILLION)
FIGURE 11: UNITED STATES FUEL CELL MARKET, BY SOLID OXIDE FUEL CELLS (SOFCS), 2023-2028 (IN $ MILLION)
FIGURE 12: UNITED STATES FUEL CELL MARKET, BY MOLTEN CARBONATE FUEL CELLS (MCFCS), 2023-2028 (IN $ MILLION)
FIGURE 13: UNITED STATES FUEL CELL MARKET, BY OTHER TYPES, 2023-2028 (IN $ MILLION)