India Proton Exchange Membrane Fuel Cell Market Size & Outlook
India proton exchange membrane fuel cell market, 2018-2030 (US$M)
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India proton exchange membrane fuel cell market highlights
- The India proton exchange membrane fuel cell market generated a revenue of USD 104.9 million in 2023 and is expected to reach USD 350.4 million by 2030.
- The India market is expected to grow at a CAGR of 18.8% 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 104.9 million |
| Market revenue in 2030 | USD 350.4 million |
| Growth rate | 18.8% (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, India accounted for 2.4% 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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India 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 65.78% in 2023. Horizon Databook has segmented the India proton exchange membrane fuel cell market based on automotive, stationery, portable covering the revenue growth of each sub-segment from 2018 to 2030.
PEMFCs are gaining attention in India as clean and efficient sources of energy. The country has been exploring the use of PEMFCs in a variety of applications, including transportation, power generation, and portable power supplies.
In recent years, the Government of India has been promoting the development and use of clean energy sources, including PEMFCs, as a part of its efforts to reduce carbon emissions.
The government of the country has implemented various policies and programs to promote the growth of the fuel cell industry, including research and development initiatives and subsidies.
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Horizon Databook provides a detailed overview of country-level data and insights on the India proton exchange membrane fuel cell market , including forecasts for subscribers. This country databook contains high-level insights into India proton exchange membrane fuel cell market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India proton exchange membrane fuel cell market size, by application, 2018-2030 (US$M)
India Proton Exchange Membrane Fuel Cell Market Outlook Share, 2023 & 2030 (US$M)
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