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Published Date: 2016-06-21Number of Pages: 91

Fuel Cells Market By Type (Proton Exchange Membrane Fuel Cells (PEMFC), Direct Methanol Fuel Cells (DMFC), Solid Oxide Fuel Cells (SOFC), and Others), and By Application (Stationary, Portable, and Transport) - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024

Fuel cells are majorly divided into four segments by type: proton exchange membrane fuel cells (PEMFC), direct methanol fuel cells (DMFC), solid oxide fuel cells (SOFC), and others. Fuel cells are used in various applications such as in fuel cell driven vehicles, submarines, combined heat and power (CHP) systems, uninterruptible power supply systems (UPS), consumer electronics, military and auxiliary power units. Fuel cells can provide backup ranging from a short-term period to long-term periods of eight hours to three days. The backup continues so long as the fuel is supplied in time as required.

Fuel cells are emerging technologies, which are currently utilized as a source of heat and electricity in buildings and the commercial sector. The use of fuel cells in applications such as stationary, portable, and transport is expected to increase significantly throughout the forecast period as even more stringent environmental legislation are enforced. Currently, stationary application of fuel cells, such as in CHP and backup power systems, dominates the market for fuel cells. Portable applications mainly include consumer electronics such as laptops, tablets, mobiles, and cameras. The use of fuel cells in the transportation sector is moderate. However, constant research and development activities going on by different governments and companies to integrate efficient fuel cell system in vehicles such as buses, trucks, cars etc. would boost the demand for fuel cells in transportation sector in the next few years.

Growth in the fuel cells market is driven by the need for adoption of cleaner fuel sources, high electricity demand, excess depletion of fossil fuels and stringent regulatory norms to minimize carbon emissions. Rapid rise in the industrial application of hydrogen gas is expected to boost the demand for fuel cells globally. Rapid population growth, high dependency on fossil fuels, increasing electricity demand, strict government regulations to minimize carbon emissions, and high awareness in different countries about clean energy usage are the primary drivers for the fuel cells market. Rise in greenhouse gas emissions and global temperature are major factors responsible for a shift toward safe, clean,and eco-friendly technology. The price of fuel cells is also decreasing, making them competitive with other fuels such as gasoline and diesel.

The fuel cells market has been segmented in terms of type, application and geography. By type, the fuel cell market has been segmented into proton exchange membrane fuel cells (PEMFC), direct methanol fuel cells (DMFC), solid oxide fuel cells (SOFC), and others. By Application, the market has been segmented into stationary, portable, and transport. By type, proton exchange membrane fuel cells (PEMFC) held the largest share (62.42%) of the market in 2015. By application, stationary held the largest share (64.82%) for the market in 2015. In terms of geography, the fuel cells market has been segmented into four regions: North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific, held the largest market share (59.94%) of the fuel cells market in 2015. Globally, investment influx in the fuel cells market is anticipated to grow during the forecast period. Power, portable charging requirements, combined heat and power (CHP), and backup power systems are the primary drivers for the demand for fuel cells.

Fuel cells generate power without any moving parts or combustion and hence prove to be less noisy than incumbent technologies. Based on measurements, a stationary fuel cell power plant produces less than one ounce of pollution per 1,000 kilowatt-hours of electricity. On the other hand, conventional power generating sources produces up to 25 pounds of pollutants on consumption of the same amount of electricity. These vital characteristics of fuel cells act as one of the major driving factors for the market. Key players in the fuel cells market include AFC Energy PLC, Ballard Power Systems Inc., Doosan Fuel Cell America, Inc., FuelCell Energy, Inc., Hydrogenics Corporation, Nedstack Fuel Cell Technology B.V., Plug Power, Inc., Panasonic Corporation, SFC Energy AG, and Toshiba Corporation.

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Table of Contents

Section 01 Preface

  • Preface
  • Market Segmentation

Section 02 Executive Summary

  • Executive Summary – Fuel Cells Market

Section 03 Industry Analysis

  • Value Chain Analysis
  • Value Chain Analysis
  • Market Dynamics
    • Driver 1 – Fuel cells to play a vital role in back-up power options
    • Driver 2 – Eco-friendly and silent characteristics
    • Driver 3 – High energy density than batteries
    • Restraint 1– High switching cost and lack of infrastructure hindering growth of fuel cell market
    • Opportunity 1 – Strict government regulations to minimize carbon emissions has resulted in a paradigm shift toward green energy
  • Porter’s Five Forces Analysis
    • Bargaining Power of Suppliers
    • Bargaining Power Of Buyers
    • Threat of Substitutes
    • Threat of New Entrants
    • Degree of Competition
  • Market Attractiveness – Fuel Cells Market
  • Company Market Share Analysis – Fuel Cells Market

Section 04 Type Segment Analysis

  • Introduction – Fuel Cells Market, Type Segment
    • Fuel Cells Market, Type Segment
      • Fuel Cells Market– PEMFC
      • Fuel Cells Market– DMFC
      • Fuel Cells Market– SOFC
      • Fuel Cells Market– Others

Section 05 Application Analysis

  • Introduction – Fuel Cells Market, Application Segment
    • Fuel Cells Market, Application Segment
      • Fuel Cells Market– Stationary
      • Fuel Cells Market– Portable
      • Fuel Cells Market– Transport

Section 06 Geographical Analysis

  • Fuel Cells Market – Regional Overview
    • Fuel Cells Market – North America
    • North America Fuel Cells Market
      • S. Fuel Cells Market
      • S. Fuel Cells Market by Application
      • S. Fuel Cells Market by Type
      • Canada Fuel Cells Market
      • Canada Fuel Cells Market by Application
      • Canada Fuel Cells Market by Type
    • Fuel Cells Market – Europe
    • Europe Fuel Cells Market
      • Germany Fuel Cells Market
      • Germany Fuel Cells Market by Application
      • Germany Fuel Cells Market by Type
      • K. Fuel Cells Market
      • K. Fuel Cells Market by Application
      • K. Fuel Cells Market by Type
      • Rest of Europe Fuel Cells Market
    • Fuel Cells Market – Asia Pacific
    • Asia Pacific Fuel Cells Market
      • Japan Fuel Cells Market
      • Japan Fuel Cells Market by Application
      • Japan Fuel Cells Market by Type
      • South Korea Fuel Cells Market
      • South Korea Fuel Cells Market by Application
      • South Korea Fuel Cells Market by Type
      • China Fuel Cells Market
      • China Fuel Cells Market by Application
      • China Fuel Cells Market by Type
      • Rest of Asia Pacific Fuel Cells Market
      • Rest of Asia Pacific Fuel Cells Market by Application
      • Rest of Asia Pacific Fuel Cells Market by Type
    • Fuel Cells Market – Rest of the World
    • Rest of the World Fuel Cells Market by Application
    • Rest of the World Fuel Cells Market by Type

Section 07 Company Profiles

  • AFC Energy PLC
  • Ballard Power Systems Inc.
  • Doosan Fuel Cell America, Inc.
  • FuelCell Energy, Inc.
  • Hydrogenics Corporation
  • Nedstack Fuel Cell Technology B.V.
  • Plug Power, Inc.
  • Panasonic Corporation
  • SFC Energy AG
  • Toshiba Corporation

List of Figures

Global Fuel cells Market Segmentation
Global Fuel Cells Market, Estimates and Forecast, By Volume (Units), 2014–2024
Global Fuel Cells Market, Estimates and Forecast, By Revenue (US$ Bn), 2014-2024
Global Fuel cells Market, Value Chain Analysis
Global Fuel cells Market, Comparison of Fuel Cell Noise with Other Products, By Decibels (dB)
Global Fuel cells Market, Comparison of Fuel cell emissions compared to other conventional fuels
Market Attractiveness Analysis of Fuel cells Market, By Region, 2015
Company Market Share % of Fuel Cells Market, 2015
Global Fuel Cells Market, % Share by Type Segment, 2015
Global Fuel Cells Market, % Share by Type Segment, 2024
Global Fuel Cells Market, Type Segment, By Volume, 2014 – 2024 (Units)
Global Fuel Cells Market, Type Segment, By Revenue, 2014 – 2024 (US$ Bn)
Global Fuel Cells Market, PEMFC, By Volume, 2014 – 2024 (Units)
Global Fuel Cells Market, PEMFC, By Revenue, 2014 – 2024 (US$ Bn)
Global Fuel Cells Market, DMFC, By Volume, 2014 – 2024 (Units)
Global Fuel Cells Market, DMFC, By Revenue, 2014 – 2024 (US$ Bn)
Global Fuel Cells Market, SOFC, By Volume, 2014 – 2024 (Units)
Global Fuel Cells Market, SOFC, By Revenue, 2014 – 2024 (US$ Bn)
Global Fuel Cells Market, Others, By Volume, 2014 – 2024 (Units)
Global Fuel Cells Market, Others, By Revenue, 2014 – 2024 (US$ Bn)
Global Fuel Cells Market, % Share by Application Segment, 2015
Global Fuel Cells Market, % Share by Application Segment, 2024
Global Fuel Cells Market, Application Segment, By Volume, 2014 – 2024 (Units)
Global Fuel Cells Market, Application Segment, By Revenue, 2014 – 2024 (US$ Bn)
Global Fuel Cells Market, Stationary, By Volume, 2014 – 2024 (Units)
Global Fuel Cells Market, Stationary, By Revenue, 2014 – 2024 (US$ Bn)
Global Fuel Cells Market, Portable, By Volume, 2014 – 2024 (Units)
Global Fuel Cells Market, Portable, By Revenue, 2014 – 2024 (US$ Bn)
Global Fuel Cells Market, Transport, By Volume, 2014 – 2024 (Units)
Global Fuel Cells Market, Transport, By Revenue, 2014 – 2024 (US$ Bn)
Global Fuel Cells Market Share, By Region, 2015 and 2024
North America Fuel Cells Market Share, By Country, 2015 and 2024
North America Fuel Cells Market, By  Volume (Units), 2014–2024
North America Fuel Cells Market, By  Revenue (US$ Bn), 2014–2024 
U.S. Fuel Cells Market, By Volume (Units), 2014–2024
U.S. Fuel Cells Market, By Revenue (US$ Bn), 2014–2024 (US$ Bn)
Canada Fuel Cells Market, By Volume (Units), 2014–2024
Canada Fuel Cells Market, By Revenue (US$ Bn), 2014–2024 (US$ Bn)
Europe Fuel Cells Market Share, By Country, 2015 and 2024
Europe Fuel Cells Market, By Volume (Units), 2014–2024
Europe Fuel Cells Market, By Revenue (US$ Bn), 2014–2024
Germany Fuel Cells Market, By Volume (Units), 2014–2024
Germany Fuel Cells Market, By Revenue (US$ Bn), 2014–2024 (US$ Bn)
U.K. Fuel Cells Market, By Volume (Units), 2014–2024
U.K. Fuel Cells Market, By Revenue (US$ Bn), 2014–2024 (US$ Bn)
Rest of Europe Fuel Cells Market, By Volume (Units), 2014–2024
Rest of Europe Fuel Cells Market, By Revenue (US$ Bn), 2014–2024 (US$ Bn)
Asia Pacific Fuel Cells Market Share, By Country, 2015 and 2024
Asia Pacific Fuel Cells Market, By Volume (Units), 2014–2024
Asia Pacific Fuel Cells Market, By Revenue (US$ Bn), 2014–2024
Japan Fuel Cells Market, By Volume (Units), 2014–2024
Japan Fuel Cells Market, By Revenue (US$ Bn), 2014–2024
South Korea Fuel Cells Market, By Volume (Units), 2014–2024
South Korea Fuel Cells Market, By Revenue (US$ Bn), 2014–2024
China Fuel Cells Market, By Volume (Units), 2014–2024
China Fuel Cells Market, By Revenue (US$ Bn), 2014–2024
Rest of Asia Pacific Fuel Cells Market, By Volume (Units), 2014–2024
Rest of Asia Pacific Fuel Cells Market, By Revenue (US$ Bn), 2014–2024
Rest of the World Fuel Cells Market, By Volume (Units), 2014–2024
Rest of the World Fuel Cells Market, By Revenue (US$ Bn), 2014–2024
Ballard Power Systems Inc., Revenue (US$ Mn) By Fuel Cells Product & Services, (2015)
Ballard Power Systems Inc., Revenue (US$ Mn) By Regional Segment,(2015)
FuelCell Energy, Inc., Revenue (US$ Mn) By Business Segment, (2015)
FuelCell Energy, Inc., Revenue (US$ Mn) By Region, (2015)
Hydrogenics Corporation, Revenue (US$ Mn) By Business Segment, (2015)
Hydrogenics Corporation, Revenue (US$ Mn) By Regional Segment, (2015)
Plug Power, Inc. Revenue (US$ Mn) By Business Segment, (2015)
Plug Power, Inc., Growth in Revenue (US$ Mn) By Year, (2011-2015)
Panasonic Corporation, Revenue (US$ Bn) By Business Segment, (2015)
Panasonic Corporation, Revenue (US$ Bn) By Appliances Sub-Segment,(2015)
SFC Energy AG, Revenue (US$ Mn) By Business Segment, (2015)
SFC Energy AG, Revenue (US$ Mn) By Region, (2015)
Toshiba Corporation, Revenue (US$ Bn) By Business Segment, (2015)
Toshiba Corporation , Revenue (US$ Bn) By Regional Segment, (2015)

List of Tables

Global Fuel Cells Market: Snapshot

 

This research study analyzes the market for fuel cells in terms of volume (Units) and revenue (US$ Mn). The fuel cells market has been segmented on the basis of type, application, and geography. For the research, 2015 has been taken as the base year, while all forecasts have been given for the period from 2016 to 2024. Market data for the segments including type, application, and regional have been provided from 2014 to 2024. The report provides a broad competitive analysis of companies engaged in the fuel cells business. 

The report also includes the key market dynamics such as drivers, restraints, and opportunities affecting the fuel cells market. These market dynamics were analyzed in detail and are illustrated in the report with the help of supporting graphs and tables. The report also provides a comprehensive analysis of the fuel cells market with the help of Porter’s Five Forces model. This analysis helps in understanding the five major forces that affect the market structure and market profitability. The forces analyzed are bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and degree of competition. 

The high-level analysis in the report provides detailed insights into the fuel cells business globally. There are currently numerous drivers of the market. Some of the most prominent drivers are high electricity demand and strict government regulations to minimize carbon emissions. Market attractiveness analysis was carried out for the fuel cells market on the basis different regions. Market attractiveness was estimated on the basis of common parameters that directly impact the fuel cells market.

Increasing demand for energy and rising cost of fossil fuels are likely to propel the demand for fuel cells. Rise in adoption of fuel cells in stationary, portable, and transport applications are anticipated to drive growth of the fuel cells market. Research and development activities in demonstration and adoption of improved and efficient fuel cell technology would reduce carbon dioxide emissions and enhance the efficiency of power delivered. Rapid population growth, high dependency on fossil fuels, increasing electricity demand, strict government regulations to minimize carbon emissions, and high awareness in different countries about clean energy usage are the main drivers of the fuel cells market.

High energy density and better backup power systems as compared to other batteries are also augmenting the fuel cells market. Rapid population growth followed by high electricity demand has resulted in a paradigm shift towards alternate sources of electricity generation such as fuel cells. Rapid rise in the industrial applications of hydrogen gas is expected to boost the demand for fuel cells globally. However, distribution and transportation challenges associated with hydrogen coupled with the high cost of fuel used in fuel cells such as hydrogen or other gas as against fossil fuels may restrain growth of the fuel cells market 

Globally, investment influx in the fuel cells market is anticipated to grow during the forecast period. Power, portable charging requirements, CHP, and backup power systems are the primary drivers for the demand for fuel cells. The fuel cells market has been segmented in terms of type, application, and geography. By type, the fuel cell market has been segmented into proton exchange membrane fuel cells (PEMFC), direct methanol fuel cells (DMFC), solid oxide fuel cells (SOFC), and others. By Application, the market has been segmented into stationary, portable, and transport In terms of geography, the fuel cells market has been segmented into four regions: North America, Europe, Asia Pacific, and Rest of the World. Key players in the fuel cells market include AFC Energy PLC, Ballard Power Systems Inc., Doosan Fuel Cell America, Inc., FuelCell Energy, Inc., Hydrogenics Corporation, Nedstack Fuel Cell Technology B.V., Plug Power, Inc., Panasonic Corporation, SFC Energy AG, and Toshiba Corporation. 

The fuel cells market has been segmented as follows: 

Fuel Cells Market: By Type

  • Proton Exchange Membrane Fuel Cells (PEMFC)
  • Direct Methanol Fuel Cells (DMFC)
  • Solid Oxide Fuel Cells (SOFC)
  • Others

Fuel Cells Market: By Application

  • Stationary
  • Portable
  • Transport

Fuel Cells Market: By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • Rest of Europe
  • Asia Pacific
    • Japan
    • South Korea
    • China
    • Rest of Asia Pacific
  • Rest of the World