Latin America Fuel Cell Market Size & Outlook, 2023-2030
Latin America fuel cell market, 2018-2030 (US$M)
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Latin America fuel cell market highlights
- The Latin America fuel cell market generated a revenue of USD 0.4 million in 2023.
- The market is expected to grow at a CAGR of 22.1% from 2024 to 2030.
- In terms of segment, pemfc was the largest revenue generating product in 2023.
- PEMFC is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 0.4 million |
| Market revenue in 2030 | USD 1.5 million |
| Growth rate | 22.1% (CAGR from 2023 to 2030) |
| Largest segment | Pemfc |
| Fastest growing segment | PEMFC |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | PEMFC |
| 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, Latin America region accounted for 0.0% of the global fuel cell market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 5,993.9 million by 2030.
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Fuel Cell Market Scope
Fuel Cell Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America 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 100% in 2023. Horizon Databook has segmented the Latin America fuel cell market based on pemfc covering the revenue growth of each sub-segment from 2018 to 2030.
Rising demand for alternative energy sources to be developed across the developing countries owing to rise in environmental concerns will drive the need for deployment of fuel cell across the region, thus paving market growth.
The involvement of both government and private organizations in the research, manufacture, and implementation of fuel cell systems across numerous industrial segments points to the development of the technology in the region.
In addition, some projects are in advanced stage of development in Chile and Uruguay. Fuel cell market in the region is expected to witness growth in the coming years as the government authorities have started taking actions to boost the usage of clean energy technologies across the region.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America fuel cell market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America fuel cell market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America fuel cell market size, by country, 2018-2030 (US$M)
Latin America Fuel Cell Market Outlook Share, 2023 & 2030 (US$M)
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