Taiwan Fuel Cell Market Size & Outlook, 2023-2030
Taiwan fuel cell market, 2018-2030 (US$M)
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Taiwan fuel cell market highlights
- The Taiwan fuel cell market generated a revenue of USD 2.6 million in 2023 and is expected to reach USD 11.3 million by 2030.
- The Taiwan market is expected to grow at a CAGR of 23.8% 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 2.6 million |
| Market revenue in 2030 | USD 11.3 million |
| Growth rate | 23.8% (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
- Country-wise, Japan is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan fuel cell market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 4,879.4 million by 2030.
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Fuel Cell Market Scope
Fuel Cell Market Companies
| Name | Profile | # Employees | HQ | Website |
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Taiwan 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 Taiwan fuel cell market based on pemfc covering the revenue growth of each sub-segment from 2018 to 2030.
Fuel cell development in the country started with the formation of Taiwan Fuel Cell Partnership in July 2001. This was established by the Executive Yuan (EY) Environmental Protection Administration and the Ministry of Economic Affairs (MOEA), Bureau of Energy. This partnership was started with a mission to promote and develop fuel cell industry in the country.
The presence of supporting policies and research fund disbursal by the government for fuel cell technology development is projected to augment the growth of fuel cell market in the country.
For instance, in June 2020, CHEM which is a Taiwanese power equipment manufacturer has received recognition by the MOEA, and it has been drafted in A+ Industrial innovation R&D Program. Moreover, the company has also been awarded a subsidy of USD 0.23 million (NTD 6.5 million) in June 2020.
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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 Taiwan fuel cell market , including forecasts for subscribers. This country databook contains high-level insights into Taiwan fuel cell market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Taiwan fuel cell market size, by product, 2018-2030 (US$M)
Taiwan Fuel Cell Market Outlook Share, 2023 & 2030 (US$M)
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