Fuel Cells Annual Report 2013

Market Development for Fuel Cells
in the Stationary, Portable, and Transport Sectors

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

Report Details

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