Rystad Energy forecasts global data center fuel cell revenues will reach $30 billion by 2030. This represents a tenfold increase over current levels. Rapid AI expansion is driving demand for on-site power as traditional grids face congestion.
U.S. grid connection wait times currently range from three to six years. Rystad Energy anticipates 10.4GW of cumulative fuel cell demand between 2026 and 2030.
North America is expected to dominate the global market. Growth in the region is supported by grid delays and federal tax incentives.