UK Proton Exchange Membrane Fuel Cell Market Size & Outlook
UK proton exchange membrane fuel cell market, 2018-2030 (US$M)
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UK proton exchange membrane fuel cell market highlights
- The UK proton exchange membrane fuel cell market generated a revenue of USD 41.0 million in 2023 and is expected to reach USD 129.1 million by 2030.
- The UK market is expected to grow at a CAGR of 17.8% 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 41.0 million |
| Market revenue in 2030 | USD 129.1 million |
| Growth rate | 17.8% (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, UK accounted for 1.0% 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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UK 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 74.63% in 2023. Horizon Databook has segmented the UK proton exchange membrane fuel cell market based on automotive, stationery, portable covering the revenue growth of each sub-segment from 2018 to 2030.
These projects aim to produce low-emission cars, buses, trucks, and vans across the UK. This investment will help the UK in achieving net-zero carbon emissions by 2050 and accelerating the transition to cleaner transportation technologies.
Therefore, investments in innovative projects to produce cleaner vehicles are likely to positively impact the proton exchange membrane fuel cell (PEMFC) market in the UK. PEMFCs offer a promising solution for reducing emissions in various transportation sectors due to their efficiency and environmental benefits.
With increased focus and funding directed toward the development and deployment of clean energy technologies, including PEMFCs, the UK is likely to witness significant growth over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the UK proton exchange membrane fuel cell market , including forecasts for subscribers. This country databook contains high-level insights into UK proton exchange membrane fuel cell market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK proton exchange membrane fuel cell market size, by application, 2018-2030 (US$M)
UK Proton Exchange Membrane Fuel Cell Market Outlook Share, 2023 & 2030 (US$M)
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