The North American market for fuel cells will be worth $667.7 million by 2018, according to a report by Dallas research firm MarketsandMarkets.
The entire North American fuel cell market, currently led by two Connecticut firms, sits at $157.1 million this year, the report says, and will experience a compound annual growth rate of 33.6 percent over the next five years.
The two largest fuel cell firms in the world are FuelCell Energy in Danbury and ClearEdge Power in South Windsor.
The key to growth in the U.S. market will be government incentives, particularly driven on the state level, the report says. California is a leader with those incentives, followed by Connecticut, New York, Ohio, and South Carolina.
