Asia Pacific Proton Exchange Membrane Fuel Cell Market Size & Outlook
Asia Pacific proton exchange membrane fuel cell market, 2018-2030 (US$M)
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Asia Pacific proton exchange membrane fuel cell market highlights
- The Asia Pacific proton exchange membrane fuel cell market generated a revenue of USD 2,737.8 million in 2023.
- The market is expected to grow at a CAGR of 17.5% from 2024 to 2030.
- In terms of segment, automotive was the largest revenue generating application in 2023.
- Portable is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Australia is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 2,737.8 million |
| Market revenue in 2030 | USD 8,443.0 million |
| Growth rate | 17.5% (CAGR from 2023 to 2030) |
| Largest segment | Automotive |
| Fastest growing segment | Portable |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Automotive, Stationery, Portable |
| Key market players worldwide | Plug Power Inc, ITM Power PLC, Ballard Power Systems Inc, PowerCell Sweden AB, Cummins Inc, Oxford Instruments PLC, Intelligent Energy, Australian Vanadium Ltd, FuelCell Energy Inc, Horizon Oil Ltd |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 63.4% of the global proton exchange membrane 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 4,218.7 million by 2030.
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Proton Exchange Membrane Fuel Cell Market Scope
Proton Exchange Membrane Fuel Cell Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific proton exchange membrane 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 proton exchange membrane fuel cell market will help companies and investors design strategic landscapes.
Automotive was the largest segment with a revenue share of 62.83% in 2023. Horizon Databook has segmented the Asia Pacific proton exchange membrane fuel cell market based on automotive, stationery, portable covering the revenue growth of each sub-segment from 2018 to 2030.
Proton exchange membrane fuel cell (PEMFC) market in Asia is experiencing significant growth owing to the increasing focus of the governments of countries in the continent on clean energy and sustainable development.
Countries such as Japan and South Korea have been at the forefront of PEMFC adoption, with extensive government support and investments driving the expansion of the market for these cells.
For instance, the Ministry of Economy, Trade and Industry (METI) of Japan has been actively promoting the development and deployment of PEMFC technology in the country through various initiatives, including subsidies for fuel cell vehicles and investments in hydrogen infrastructure.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific proton exchange membrane fuel cell market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific proton exchange membrane fuel cell market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific proton exchange membrane fuel cell market size, by country, 2018-2030 (US$M)
Asia Pacific Proton Exchange Membrane Fuel Cell Market Outlook Share, 2023 & 2030 (US$M)
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