Latin America Phosphoric Acid Fuel Cell Market Size & Outlook
The phosphoric acid fuel cell market in Latin America is expected to reach a projected revenue of US$ 60.4 million by 2030. A compound annual growth rate of 20.2% is expected of Latin America phosphoric acid fuel cell market from 2024 to 2030.
Revenue, 2023 (US$M)
$16.9
Forecast, 2030 (US$M)
$60.4
CAGR, 2024 - 2030
20.2%
Report Coverage
Latin America
Latin America phosphoric acid fuel cell market highlights
- The Latin America phosphoric acid fuel cell market generated a revenue of USD 16.9 million in 2023.
- The market is expected to grow at a CAGR of 20.2% from 2024 to 2030.
- In terms of segment, vehicles was the largest revenue generating application in 2023.
- Vehicles is the most lucrative application segment registering the fastest growth during the forecast period.
Latin America data book summary
| Market revenue in 2023 | USD 16.9 million |
| Market revenue in 2030 | USD 60.4 million |
| Growth rate | 20.2% (CAGR from 2024 to 2030) |
| Largest segment | Vehicles |
| Fastest growing segment | Vehicles |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Vehicles |
| Key market players worldwide | Fuji Electric Co Ltd, Doosan Fuel Cell Ordinary Shares, Bloom Energy Corp Class A, Advent Technologies Holdings Inc Ordinary Shares - Class A, SFC Energy AG, PowerCell Sweden AB |
Other key industry trends
- In terms of revenue, Latin America region accounted for 3.6% of the global phosphoric acid 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 545.3 million by 2030.
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Phosphoric Acid Fuel Cell Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Advent Technologies Holdings Inc Ordinary Shares - Class A | View profile | 175 | 500 Rutherford Avenue, Suite 102, Boston, MA, United States, 02129 | https://www.advent.energy |
| SFC Energy AG | View profile | 413 | Eugen-Saenger-Ring 7, Brunnthal, Germany, 85649 | https://www.sfc.com |
| Bloom Energy Corp Class A | View profile | 2377 | 4353 North First Street, San Jose, CA, United States, 95134 | https://www.bloomenergy.com |
| PowerCell Sweden AB | View profile | 149 | Ruskvadersgatan 12, Gothenburg, Sweden, SE-418 34 | https://powercellgroup.com |
| Fuji Electric Co Ltd | View profile | 30123 | Gate City Ohsaki, East Tower, 11-2, Osaki 1-chome, Shinagawa-ku, Tokyo, Japan, 141-0032 | http://www.fujielectric.co.jp |
| Doosan Fuel Cell Ordinary Shares | View profile | 466 | 275 Jangchungdan-ro, 17th Floor, Doosan Tower, Jung-gu, Seoul, Korea, Republic of | http://www.doosanfuelcell.com |
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