South Korea Proton Exchange Membrane Fuel Cell Market Size & Outlook
South Korea proton exchange membrane fuel cell market, 2018-2030 (US$M)
Related Markets
South Korea proton exchange membrane fuel cell market highlights
- The South Korea proton exchange membrane fuel cell market generated a revenue of USD 508.4 million in 2023 and is expected to reach USD 1,549.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 17.3% 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 508.4 million |
| Market revenue in 2030 | USD 1,549.3 million |
| Growth rate | 17.3% (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, South Korea accounted for 11.8% 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.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Proton Exchange Membrane Fuel Cell Market Scope
Proton Exchange Membrane Fuel Cell Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea 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 60.44% in 2023. Horizon Databook has segmented the South Korea proton exchange membrane fuel cell market based on automotive, stationery, portable covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea has been actively investing in developing the proton exchange membrane fuel cell (PEMFC) technology for a few years. The country has a strong focus on clean energy and has been actively promoting the use of fuel cells as a means to reduce greenhouse gas emissions.
In transportation sector, South Korea is using PEMFCs in fuel cell electric vehicles (FCEVs). In addition, several major automakers in the country, such as Hyundai and Kia, have developed commercially available FCEVs.
The government of South Korea introduced the Korea Hydrogen Economy Roadmap 2040 and set targets for the adoption of green hydrogen and fuel cells by 2040. The roadmap outlines the production of 6.2 million FCEVs and the rollout of at least 1,200 refilling stations by 2040.
Reasons to subscribe to South Korea proton exchange membrane fuel cell market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of South Korea proton exchange membrane fuel cell market databook
-
Our clientele includes a mix of proton exchange membrane fuel cell market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea proton exchange membrane fuel cell market , including forecasts for subscribers. This country databook contains high-level insights into South Korea proton exchange membrane fuel cell market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
South Korea proton exchange membrane fuel cell market size, by application, 2018-2030 (US$M)
South Korea Proton Exchange Membrane Fuel Cell Market Outlook Share, 2023 & 2030 (US$M)
Related industry reports
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
