Spain Proton Exchange Membrane Fuel Cell Market Size & Outlook
Spain proton exchange membrane fuel cell market, 2018-2030 (US$M)
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Spain proton exchange membrane fuel cell market highlights
- The Spain proton exchange membrane fuel cell market generated a revenue of USD 10.1 million in 2023 and is expected to reach USD 34.2 million by 2030.
- The Spain market is expected to grow at a CAGR of 19% from 2024 to 2030.
- In terms of segment, automotive was the largest revenue generating application in 2023.
- Automotive 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 10.1 million |
| Market revenue in 2030 | USD 34.2 million |
| Growth rate | 19% (CAGR from 2023 to 2030) |
| Largest segment | Automotive |
| Fastest growing segment | Automotive |
| 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, Spain accounted for 0.2% 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 Europe, Germany proton exchange membrane fuel cell market is projected to lead the regional market in terms of revenue in 2030.
- Spain is the fastest growing regional market in Europe and is projected to reach USD 34.2 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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Spain 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 67.33% in 2023. Horizon Databook has segmented the Spain proton exchange membrane fuel cell market based on automotive, stationery, portable covering the revenue growth of each sub-segment from 2018 to 2030.
Spain is one of the major European countries to use hydrogen as a fuel for various applications. The government has instructed to blend 5% hydrogen by volume in natural gas.
In line with the EU Directive on the deployment of alternative fuels infrastructure (2014/94/EU), Spain has called for the countrywide installation of 20 publicly available hydrogen refueling stations to support the deployment of fuel cell electric vehicles in the short term.
The availability of funds for research, project development, and implementation related to fuel cells is also anticipated to drive the fuel cell market in Spain.
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Horizon Databook provides a detailed overview of country-level data and insights on the Spain proton exchange membrane fuel cell market , including forecasts for subscribers. This country databook contains high-level insights into Spain proton exchange membrane fuel cell market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Spain proton exchange membrane fuel cell market size, by application, 2018-2030 (US$M)
Spain Proton Exchange Membrane Fuel Cell Market Outlook Share, 2023 & 2030 (US$M)
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