The increased focus on creating resilient, distributed energy systems is driving a modest growth spurt in the global fuel cell industry. The industry broke the $1 billion mark in revenue from the sale of fuel cell systems in 2012, on shipments of 124 MW, up 40 MW from 2011. Although the stationary sector continues to be the industry powerhouse, the transportation sector is picking up in terms of volume, as well.
Drivers for adoption of fuel cell technology in stationary, portable, and transportation sectors range from macro trends down to highly localized developments. At the high level, the three most important influences on the rate of adoption of fuel cell systems are the requirement for more resilient energy systems, the cost of diesel fuel, and government policies. The last factor will continue to largely determine the market’s direction over the next 5 years.
This Navigant Research report provides a global analysis of developments in the fuel cell industry from a quantitative and qualitative perspective. In addition to in-depth analyses of capacity shipped, fuel used, and electrolyte adoption rates, the study also includes a special section on hydrogen demand and production. The report also profiles 30 key companies in the stationary, portable, and transportation fuel cell segments, and a forecast of worldwide fuel cell adoption extends through 2018.
Key Questions Addressed:
What is the current growth rate of the worldwide fuel cell industry, by region, and by sector?
Which companies lead the fuel cell industry in terms of revenue?
How many companies are sustainable, under current market conditions?
What was the level of investment activity in the fuel cell industry in 2012?
What were the major policy updates, and implications thereof, in the United States, European Union, Germany, South Korea, Japan, Australia, and India for the fuel cell industry?
Which countries are leading in terms of fuel cell manufacturing?
Which regions are best positioning themselves as leading manufacturing areas in the coming years?
Who needs this report?
Fuel cell system and stack developer companies
Fuel cell component suppliers
Fuel cell vehicle manufacturers
Energy storage vendors
Industry associations
Government agencies
Investor community
Table of Contents
1. Executive Summary
1.1 2012 Summary
2. Market Drivers
2.1 Introduction
2.2 Key Drivers
2.2.1 Distributed and Resilient Energy
2.2.2 Black Swan Events – The Known Unknown
2.3 Policy Update
2.3.1 South Korea
2.3.1.1 Energy Policy
2.3.1.2 Policies Promoting Distributed Generation
2.3.1.3 Renewable Portfolio Standard
2.3.1.4 Smart Grid Program
2.3.1.5 Transportation Policy
2.3.1.6 Smart City Movement
2.3.1.7 Conclusion
2.3.2 China
2.3.2.1 Energy Policy
2.3.2.2 Transportation Policy
2.3.2.3 Transportation Fuel Cell Policy
2.3.3 South Africa
2.3.3.1 Energy Policy
2.3.3.2 Transportation Policy
3. 2012 Industry Structure
3.1 Overview
3.2 Company Landscape
3.3 Company Revenue
4. Market Overview 2012
4.1 Overview
4.2 Market Growth
4.2.1 Capacity Shipped
4.3 Development by Revenue
4.3.1 By Application
4.4 Regional Developments
4.5 Development by Electrolyte
4.6 Development by Fuel
4.6.1 Hydrogen Markets
4.7 Market Structure and Size of Electrolytic Hydrogen Market
5. Key Industry Players
5.1 Introduction
5.2 Stationary
5.2.1 AFC Energy (AFC, Prime Power, United Kingdom)
5.2.2 Altergy Systems (PEM, Backup Power, United States)
5.2.3 Ballard Power Systems (PEM, Stationary Markets, Canada)
5.2.4 Bloom Energy (SOFC, Prime Power, United States)
5.2.5 Ceramic Fuel Cells (SOFC, resCHP, Australia)
5.2.6 ClearEdge Power (HT PEM and Phosphoric Acid, Distributed Power, United States)
5.2.7 Electro Power Systems (PEM, Backup Power, Italy)
5.2.8 FuelCell Energy (MCFC, Prime Power, United States)
5.2.9 ReliOn, Inc. (PEM, Backup Power and Off-Grid Power, United States)
5.3 Portable
5.3.1 Horizon Fuel Cell (PEM, External Battery Rechargers, Singapore)
5.3.2 Lilliputian Systems (SOFC, External Battery Rechargers, United States)
5.3.3 myFC (PEM, External Battery Rechargers, Sweden)
5.3.4 SerEnergy (HT PEM, Portable Generators, Denmark
5.3.5 SFC Energy (DMFC, Portable Generators, Germany)
5.4 Transportation
5.4.1 Daimler (PEM, FCV and FCB, Germany)
5.4.2 General Motors (PEM, FCV, US)
5.4.3 Honda (PEM, FCV and FCB, Japan)
5.4.4 Hyundai-Kia Automotive Group (PEM, FCV, South Korea)
5.4.5 Oorja Protonics (DMFC, APU, United States)
5.4.6 Toyota (PEM, FCV and FCB, Japan)
6. Market Forecasts
6.1 Introduction
6.2 Model Overview
6.3 2013-2018 Shipments by Application
6.4 2013-2018 Electrolyte Mix
6.5 2013-2018 Analysis by Region of Manufacture
6.6 Qualitative Overview of Key Flex Points in the Model
6.6.1 New Companies Coming into the Market
6.6.2 New Markets Opening Up
6.6.3 New Policy Direction from Government
7. Company Directory
8. Acronym and Abbreviation List
9. Table of Contents
10. Table of Charts and Figures
11. Scope of Study, Sources and Methodology, Notes
List of Charts and Figures
Fuel Cell Shipped Capacity and Revenue by Application, World Markets: 2009-2012
Environmental and Disaster Costs, United States: 1990-2012
Planned New Generating Capacity by Fuel Source, South Africa: 2011
Number of Commercial Fuel Cell Companies Tracked by Region of Headquarters, World Markets: 2012
Fuel Cell Capacity Shipped by Top 10 Companies, World Markets: 2012
Fuel Cell Company Revenue, All Companies With Earnings Over $1 Million in Fuel Cell System Sales, World Markets: 2012
Competitiveness of Fuel Cell Companies with Stationary Fuel Cell Product, World Markets: 2012
Fuel Cell Systems Shipped by Market Sector, World Markets: 2008-2012
Fuel Cell Capacity and Revenue by Market Sector, World Markets: 2009-2012
Fuel Cell System Revenue by Market Sector, World Markets: 2008-2012
Fuel Cell Revenue by Region, World Markets: 2009-2012
Fuel Cell Capacity Shipped by Region, World Markets: 2009-2012
Fuel Cell Capacity Shipped by Region and Electrolyte, World Markets: 2012
Fuel Cell Systems Shipped By Fuel Type, World Markets: 2010-2012
Hydrogen Demand by Market, World Markets: 2011
Merchant Hydrogen Producers by Company, Select Markets: 2011
Fuel Cell Market Sectors using Direct Hydrogen by Sector, World Markets: 2010-2012
Fuel Cell Systems Capacity Shipped by Market Sector, World Markets: 2013-2018
Fuel Cell Systems Shipped by Market Sector, World Markets: 2013-2018
Fuel Cell Capacity Shipped by Electrolyte, World Markets: 2013-2018
Fuel Cell Systems Revenue by Region of Manufacture, World Markets: 2013-2018
Fuel Cell Systems Manufactured by Region, World Markets: 2013-2018
RV as Mobile Cell Phone Recharging Site after Tropical Cyclone Sandy
List of Tables
Fuel Cell Shipped Capacity and Revenue by Market Segment, World Markets: 2008-2012
Percentage of Renewable Energy Generation under RPS, South Korea: 2012-2020
Fuel Cell Demand if RPS Percentage Supplied Only by Fuel Cells, South Korea: 2012-2020
Funding Profile of South Korea’s Smart Grid Program Through 2030
Transit Improvement Plan by City Size, South Korea: 2007-2011
Low Emissions Vehicle Subsidies for Government-Owned Fleets, South Korea: 2009-2014
Government-Owned FCV Fleet Program, South Korea: 2006-2013
Average New Vehicle Fuel Economy by Mode and Year, China: 2005-2030
Environmental and Disaster Costs, United States: 1990-2012
Planned New Generating Capacity by Fuel Type, South Africa: 2011
Hydrogen Volume Demand by Region, World Markets: 2001-2011
Fuel Cell Systems Shipped by Market Sector, World Markets: 2009-2012
Fuel Cell Capacity and Revenue by Market Sector, World Markets: 2009-2012
Fuel Cell Capacity Shipped by Application, World Markets: 2010-2012
Fuel Cell Systems Revenue by Market Sector, World Markets: 2009-2012
Fuel Cell Market Sectors using Direct Hydrogen by Sector, World Markets: 2010-2012
Fuel Cell Systems Shipped by Market Sector, World Markets: 2013-2018
Fuel Cell Capacity Shipped by Electrolyte, World Markets: 2013-2018
Fuel Cell Systems Revenue by Region, World Markets: 2013-2018
Fuel Cell Systems Manufactured by Region, World Markets: 2013-2018
Fuel Cells in Resilient Applications
Hydrogen Volume Demand by Region, World Markets: 2001-2011
AFC Energy SWOT Analysis
Altergy Systems SWOT Analysis
Ballard Power Systems SWOT Analysis
Bloom Energy SWOT Analysis
Ceramic Fuel Cells SWOT Analysis
ClearEdge Power SWOT Analysis
Electro Power Systems SWOT Analysis
FuelCell Energy SWOT Analysis
ReliOn Inc. SWOT Analysis
Horizon Fuel Cells SWOT Analysis
Lilliputian Systems SWOT Analysis
myFC SWOT Analysis
SerEnergy SWOT Analysis
SFC Smart SWOT Analysis
Event Types That Impact a Forecast
