Equinix Joins 9 GW Fuel Cell Deals as Market Soars to $30 B by 2030
EQIX•Equinix is part of a 9 GW contracted order book for on-site fuel cells, as AI-driven data center demand spurs market revenues from $2.8 billion in 2025 to about $30 billion by 2030. Federal tax incentives and grid interconnection delays position North America for 91% of global capacity.
1. Fuel Cell Market Growth
Data center developers are shifting from congested grids to on-site fuel cells as AI computing drives a projected tenfold market jump from $2.8 billion in 2025 to $30 billion by 2030. Research projects 10.4 GW of cumulative fuel cell demand between 2026 and 2030, underscoring rapid expansion.
2. Equinix's Framework Agreements
Equinix holds framework agreements within a contracted order book of approximately 9 GW alongside Oracle, AEP and Brookfield, reflecting strong operator confidence in on-site fuel cells as a reliable power source for future data center capacity.
3. Supply Chain and Material Risks
Operational and planned fuel cell manufacturing capacity is set to reach 4 GW per year by 2030, but heavy reliance on Bloom Energy’s solid oxide technology concentrates risk. At full utilization of its 2 GW expansion, Bloom would require nearly the entire global scandium supply, creating a potential bottleneck.
4. Regulatory Incentives and Deployment Trends
Grid interconnection timelines of three to six years, combined with federal tax incentives, are driving roughly 40% of projected 2030 US data center capacity toward dedicated on-site power generation. North America is expected to capture 91% of installed global on-site power capacity by 2030.
