Mexico Fuel Cell Market Size & Outlook, 2023-2030
Mexico fuel cell market, 2018-2030 (US$M)
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Mexico fuel cell market highlights
- The Mexico fuel cell market generated a revenue of USD 28.8 million in 2023 and is expected to reach USD 129.0 million by 2030.
- The Mexico market is expected to grow at a CAGR of 23.9% 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.
Fuel cell market data book summary
| Market revenue in 2023 | USD 28.8 million |
| Market revenue in 2030 | USD 129.0 million |
| Growth rate | 23.9% (CAGR from 2023 to 2030) |
| Largest segment | Pemfc |
| Fastest growing segment | PEMFC |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Mexico accounted for 0.4% 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 North America, U.S. fuel cell market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 1,269.0 million by 2030.
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Fuel Cell Market Scope
Fuel Cell Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Mexico 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 Mexico fuel cell market based on pemfc covering the revenue growth of each sub-segment from 2018 to 2030.
In 2016, the Sociedad Mexicana del Hidrógeno (SMH) published the National Hydrogen Plan for the country. The main objective of this plan was to identify major technologies, products, and to make a move toward hydrogen as fuel for the country in order to limit carbon emissions in the country in future.
In July 2020, the Sectoral Program, which was derived from National Development Plan 2019-2024, was published. This program states the following:
To make sustainable use of all the nation's energy resources, increase available reserves, and enhance the energy security of current and future generations of Mexicans. The energy policy must be directly linked to the policy on the nation's water and subsoil resources. Likewise, to explore the use of other energy sources such as hydrogen.
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Our clientele includes a mix of fuel cell market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico fuel cell market , including forecasts for subscribers. This country databook contains high-level insights into Mexico fuel cell market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico fuel cell market size, by product, 2018-2030 (US$M)
Mexico Fuel Cell Market Outlook Share, 2023 & 2030 (US$M)
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