Rystad Energy Sees Fuel Cell Market Reaching $30 Billion by 2030

Rystad Energy expects data center developers to turn to on-site fuel cells as grid congestion delays power access, with fuel cell market revenue rising from about $2.8 billion in 2025 to about $30 billion in 2030. According to ChainCatcher, the firm said signed orders total about 9 gigawatts, including framework agreements with Oracle, AEP, Equinix, and Brookfield. Rystad Energy estimated U.S. large-load grid connection times at three to six years. It projected cumulative data center fuel cell demand of 10.4 gigawatts from 2026 to 2030, and said about 40% of U.S. data center capacity in 2030 could use on-site generation. North America is expected to account for 91% of global on-site generation installations. The report said manufacturers’ combined capacity could reach 4 gigawatts a year by 2030, up from 1.8 gigawatts now. Solid oxide fuel cells are expected to make up 53% of cumulative stationary deliveries, while Bloom Energy holds nearly all major load contracts in visible orders.