China Proton Exchange Membrane Fuel Cell Market Size & Outlook
China proton exchange membrane fuel cell market, 2018-2030 (US$M)
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China proton exchange membrane fuel cell market highlights
- The China proton exchange membrane fuel cell market generated a revenue of USD 483.5 million in 2023 and is expected to reach USD 1,502.0 million by 2030.
- The China market is expected to grow at a CAGR of 17.6% from 2024 to 2030.
- In terms of segment, automotive was the largest revenue generating application in 2023.
- Stationery is the most lucrative application segment registering the fastest growth during the forecast period.
Proton exchange membrane fuel cell market data book summary
| Market revenue in 2023 | USD 483.5 million |
| Market revenue in 2030 | USD 1,502.0 million |
| Growth rate | 17.6% (CAGR from 2023 to 2030) |
| Largest segment | Automotive |
| Fastest growing segment | Stationery |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, China accounted for 11.2% of the global proton exchange membrane fuel cell market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan proton exchange membrane fuel cell market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 54.9 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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China 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 68.58% in 2023. Horizon Databook has segmented the China proton exchange membrane fuel cell market based on automotive, stationery, portable covering the revenue growth of each sub-segment from 2018 to 2030.
China has been actively investing in the development of proton exchange membrane fuel cell (PEMFC) technology in recent years. As a result, the country has become one of the largest producers and consumers of PEMFCs in the world.
This has led to the establishment of several domestic companies that specialize in the production of PEMFCs and related components, as well as the creation of numerous research and development centers focused on improving PEMFC technology.
In December 2023, Johnson Matthey (JM) announced the construction of a new catalytic-coated membrane (CCM) manufacturing facility in Shanghai, China to produce catalytic-coated membrane (CCM) for multiple PEMFC and PEM electrolyzers.
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Horizon Databook provides a detailed overview of country-level data and insights on the China proton exchange membrane fuel cell market , including forecasts for subscribers. This country databook contains high-level insights into China proton exchange membrane fuel cell market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China proton exchange membrane fuel cell market size, by application, 2018-2030 (US$M)
China Proton Exchange Membrane Fuel Cell Market Outlook Share, 2023 & 2030 (US$M)
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