Mexico Proton Exchange Membrane Fuel Cell Market Size & Outlook
Mexico proton exchange membrane fuel cell market, 2018-2030 (US$M)
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Mexico proton exchange membrane fuel cell market highlights
- The Mexico proton exchange membrane fuel cell market generated a revenue of USD 14.6 million in 2023 and is expected to reach USD 51.2 million by 2030.
- The Mexico market is expected to grow at a CAGR of 19.7% 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.
Proton exchange membrane fuel cell market data book summary
| Market revenue in 2023 | USD 14.6 million |
| Market revenue in 2030 | USD 51.2 million |
| Growth rate | 19.7% (CAGR from 2023 to 2030) |
| Largest segment | Automotive |
| Fastest growing segment | Portable |
| 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, Mexico accounted for 0.3% 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 North America, U.S. proton exchange membrane fuel cell market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 840.4 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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Mexico 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 76.71% in 2023. Horizon Databook has segmented the Mexico proton exchange membrane fuel cell market based on automotive, stationery, portable covering the revenue growth of each sub-segment from 2018 to 2030.
The proton exchange membrane fuel cell (PEMFC) market in Mexico is witnessing a notable surge propelled by several factors. As Mexico strives to diversify its energy mix and reduce its dependence on fossil fuels, PEMFC technology emerges as a promising solution due to its efficiency and environmental benefits.
The country's commitment to sustainability, coupled with a growing awareness of the importance of clean energy, is fostering the adoption of PEMFCs across various sectors. Government support and incentives further drive the growth of the PEMFC market in Mexico.
For instance, in November 2023, the Danish financial economic fund invested USD 10 billion in Oaxaca to produce green hydrogen under the Mexican government’s ambitious trade corridor initiative.
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico proton exchange membrane fuel cell market , including forecasts for subscribers. This country databook contains high-level insights into Mexico proton exchange membrane fuel cell market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico proton exchange membrane fuel cell market size, by application, 2018-2030 (US$M)
Mexico Proton Exchange Membrane Fuel Cell Market Outlook Share, 2023 & 2030 (US$M)
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