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Europe Proton Exchange Membrane Fuel Cell Market Size
- Report ID: GMI7333
- Published Date: Nov 2023
- Report Format: PDF
Europe Proton Exchange Membrane Fuel Cell Market Size
Europe Proton Exchange Membrane Fuel Cell Market was valued at 0.4 billion in 2022 and is set register around 11.7% CAGR between 2023 and 2032. Stringent emission reduction targets along with usage of the technology as a viable option for fuel cell vehicles (FCVs) will drive the product adoption. For instance, in October 2023, the European Council set the target of 45% emission reduction for new heavy-duty vehicles by the year 2030
Increasing focus towards green hydrogen production coupled with upsurge in investments for the development of hydrogen economy will complement the business scenario. PEMFCs efficiently use green hydrogen for clean energy generation, thereby augmenting the unit deployment. Furthermore, rising utilization of the systems across maritime and rail transportation owing to rising green house gas emissions from shipping will sway the business landscape.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Europe Proton Exchange Membrane Fuel Cell Market Size in 2022: | USD 0.4 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 11.7% |
| 2032 Value Projection: | USD 1.1 Billion |
| Historical Data for: | 2019 to 2021 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 104 |
| Segments covered: | Application |
| Growth Drivers: | |
| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Europe Proton Exchange Membrane Fuel Cell Market Scope
