Europe Proton Exchange Membrane Fuel Cell Market Size & Outlook
Europe proton exchange membrane fuel cell market, 2018-2030 (US$M)
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Europe proton exchange membrane fuel cell market highlights
- The Europe proton exchange membrane fuel cell market generated a revenue of USD 378.2 million in 2023.
- The market is expected to grow at a CAGR of 17.1% 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, Spain is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 378.2 million |
| Market revenue in 2030 | USD 1,142.2 million |
| Growth rate | 17.1% (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, Europe region accounted for 8.8% 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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Europe 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 74.91% in 2023. Horizon Databook has segmented the Europe proton exchange membrane fuel cell market based on automotive, stationery, portable covering the revenue growth of each sub-segment from 2018 to 2030.
The development of fuel cell systems and their deployment in Europe have increased owing to projects undertaken by the European Commission, including the Fuel Cells and Hydrogen Joint Undertaking (FCH JU).
These projects have been reported to increase the adoption of fuel cell-based vehicles in the region and help develop supportive hydrogen infrastructures for fuel cell-based vehicles in key European countries in the coming years.
The Fuel Cells and Hydrogen Joint Undertaking (FCH JU) works on a public-private partnership model, supports research and development, and provides grants for the execution of fuel cell projects in the region.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe proton exchange membrane fuel cell market , including forecasts for subscribers. This continent databook contains high-level insights into Europe proton exchange membrane fuel cell market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe proton exchange membrane fuel cell market size, by country, 2018-2030 (US$M)
Europe Proton Exchange Membrane Fuel Cell Market Outlook Share, 2023 & 2030 (US$M)
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