Italy Fuel Cell Market Size & Outlook, 2023-2030
Italy fuel cell market, 2018-2030 (US$M)
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Italy fuel cell market highlights
- The Italy fuel cell market generated a revenue of USD 23.5 million in 2023 and is expected to reach USD 91.9 million by 2030.
- The Italy market is expected to grow at a CAGR of 21.5% from 2024 to 2030.
- In terms of segment, pemfc was the largest revenue generating product in 2023.
- SOFC is the most lucrative product segment registering the fastest growth during the forecast period.
Fuel cell market data book summary
| Market revenue in 2023 | USD 23.5 million |
| Market revenue in 2030 | USD 91.9 million |
| Growth rate | 21.5% (CAGR from 2023 to 2030) |
| Largest segment | Pemfc |
| Fastest growing segment | SOFC |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | PEMFC, SOFC |
| Key market players worldwide | Ballard Power Systems Inc, Bloom Energy Corp Class A, Ceres Power Holdings PLC, Doosan Fuel Cell Ordinary Shares, FuelCell Energy Inc, Plug Power Inc, SFC Energy AG, Cummins Inc, Nedstack Fuel Cell Technology, Hyster-Yale Materials Handling Inc Class A |
Other key industry trends
- In terms of revenue, Italy accounted for 0.3% of the global fuel cell market in 2023.
- Country-wise, Japan is expected to lead the global market in terms of revenue in 2030.
- In Europe, Germany fuel cell market is projected to lead the regional market in terms of revenue in 2030.
- France is the fastest growing regional market in Europe and is projected to reach USD 228.9 million by 2030.
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Fuel Cell Market Scope
Fuel Cell Market Companies
| Name | Profile | # Employees | HQ | Website |
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Italy fuel cell market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to fuel cell market will help companies and investors design strategic landscapes.
Pemfc was the largest segment with a revenue share of 67.23% in 2023. Horizon Databook has segmented the Italy fuel cell market based on pemfc, sofc covering the revenue growth of each sub-segment from 2018 to 2030.
Italy's government has taken steps to improve hydrogen infrastructure in the country as the government has issued regulations to overcome barriers faced by the deployment of refueling stations for hydrogen in the country. Under the new regulations, the government has increased the allowed pressure for the distribution of hydrogen and has taken steps to enhance the safety of hydrogen infrastructure.
Snam, has been experimenting with 10% mix of hydrogen in natural gas, which is likely to aid the adoption of hydrogen fuel in the country. Furthermore, in June 2020, Alstom signed a five-year agreement with Snam to develop hydrogen-fueled trains in Italy.
These trains will be equipped with fuel cells, resulting in no greenhouse gas emissions. These factors are projected to boost the adoption of fuel cell systems in the country over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the Italy fuel cell market , including forecasts for subscribers. This country databook contains high-level insights into Italy fuel cell market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Italy fuel cell market size, by product, 2018-2030 (US$M)
Italy Fuel Cell Market Outlook Share, 2023 & 2030 (US$M)
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