Spain Fuel Cell Market Size & Outlook, 2023-2030
Spain fuel cell market, 2018-2030 (US$M)
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Spain fuel cell market highlights
- The Spain fuel cell market generated a revenue of USD 28.2 million in 2023 and is expected to reach USD 110.4 million by 2030.
- The Spain 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 28.2 million |
| Market revenue in 2030 | USD 110.4 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, Spain 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 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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Spain 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 71.99% in 2023. Horizon Databook has segmented the Spain fuel cell market based on pemfc, sofc covering the revenue growth of each sub-segment from 2018 to 2030.
Spain has emerged as one of the major European countries that are utilizing hydrogen as fuel in various sectors. For instance, the government of Spain has instructed to blend 5% hydrogen by volume in natural gas in the country.
In line with the EU Directive on the deployment of alternative fuels infrastructure (2014/94/EU), Spain has called for the country-wide installation of 20 publicly available hydrogen refueling stations to support the deployment of fuel cell electric vehicles in the short term.
The availability of funds for research, project development, and implementation related to fuel cells is also anticipated to drive fuel cell market in the country. For instance, Valencia's H2Ports project mentioned that they will deploy the 1st fuel cell-powered terminal tractor and reach stacker by 2021.
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Our clientele includes a mix of fuel cell market companies, investment firms, advisory firms & academic institutions.
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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 Spain fuel cell market , including forecasts for subscribers. This country databook contains high-level insights into Spain fuel cell market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Spain fuel cell market size, by product, 2018-2030 (US$M)
Spain Fuel Cell Market Outlook Share, 2023 & 2030 (US$M)
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