Press Resease

Fuel Cells Market (PEMFC, MCFC, SOFC, DMFC, PAFC and Others) for Stationary, Transport and Portable Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 - 2022

Published Date: 25-Sep-2017 Category: Chemical & Materials Report Format : PDF Pages: 167 Report Code: ZMR-2316 Status : Published

Global fuel cells market is expected to reach USD 6.54 billion by 2022, growing at a CAGR of 10.5% between 2017 and 2022.

Description

The report covers forecast and analysis for the fuel cells market on a global and regional level. The study provides historic data of 2014 to 2016 along with a forecast from 2017 to 2022 based on both volume (Mega Watts) and revenue (USD Billion). The study includes drivers and restraints for the fuel cells market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the fuel cells market on a global level.

In order to give the users of this report a comprehensive view on the fuel cells market, we have included a detailed value chain analysis. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the fuel cells market has also been included. The study encompasses a market attractiveness analysis, wherein type segments are benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a decisive view on the fuel cells market by segmenting the market based on types and applications. The type segments covered under this study include proton exchange membrane fuel cells (PEMFC), molten carbonate fuel cells (MCFC), solid oxide fuel cells (SOFC), direct methanol fuel cells (DMFC), phosphoric acid fuel cells (PAFC) and others. Stationary, transport, and portable are the application segments of the global fuel cells market. All the type and application segments have been analyzed based on present and future trends and the market is estimated from 2017 to 2022. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and Middle East & Africa. This segmentation includes demand for individual segments in all the regions and countries.

The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global fuel cells market. Key players profiled in the report include AFC Energy, Aisin Seiki Co. Ltd., Ballard Power Systems Inc., Bloom Energy, Ceramic Fuel Cells Limited, Ceres Power Holdings PLC, Doosan Corporation, Fuelcell Energy, Horizon Fuel Cell Technologies and Hydrogenics Corporation.

Global Fuel Cells Market: Type Analysis

  • Proton Exchange Membrane Fuel Cells (PEMFC)
  • Molten Carbonate Fuel Cells (MCFC)
  • Solid Oxide Fuel Cells (SOFC)
  • Direct Methanol Fuel Cells (DMFC)
  • Phosphoric Acid Fuel Cells (PAFC)
  • Others

Global Fuel Cells Market: Application Analysis

  • Stationary
  • Transport
  • Portable

Global Fuel Cells Market: Regional Segment Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

Table Of Content

  • Chapter 1 Preface
    • 1.1 Report description and scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market research process
      • 1.3.2 Market research methodology
  • Chapter 2 Executive Summary
    • 2.1 Global Fuel Cells Market, 2014 – 2022, (Mega Watts) (USD Billion)
    • 2.2 Global Fuel Cells Market: Snapshot
  • Chapter 3 Fuel Cells Market – Global Industry Analysis
    • 3.1 Introduction
    • 3.2 Key Findings
    • 3.3 Value Chain Analysis
    • 3.4 Market Drivers
      • 3.4.1 Drivers for Global Fuel Cells Market: Impact Analysis
      • 3.4.2 Increasing governmental incentives and policies
    • 3.5 Market Restraints
      • 3.5.1 Restraints for Global Fuel Cells Market: Impact Analysis
      • 3.5.2 High cost of raw materials
    • 3.6 Opportunities
      • 3.6.1 Technological advancements
      • 3.6.2 Green building projects
    • 3.7 Porter’s Five Forces Analysis
      • 3.7.1 Bargaining Power of Suppliers
      • 3.7.2 Bargaining Power of Buyers
      • 3.7.3 Threat of Substitutes
      • 3.7.4 Threat of New Entrants
      • 3.7.5 Degree of competition
    • 3.8 Market Attractiveness Analysis
      • 3.8.1 Market Attractiveness Analysis by Type
      • 3.8.2 Market Attractiveness Analysis by Application
      • 3.8.3 Market Attractiveness Analysis by Region
  • Chapter 4 Global Fuel Cells Market – Competitive Landscape
    • 4.1 Company Market Share Analysis, 2016 (Subject to Data Availability)
    • 4.2 Price Trend Analysis
  • Chapter 5 Global Fuel Cells Market – Type Segment Analysis
    • 5.1 Global Fuel Cells Market: Type Segment Overview
      • 5.1.1 Global Fuel Cells market volume share, by type, 2016 and 2022
    • 5.2 Proton Exchange Membrane Fuel Cells (PEMFC)
      • 5.2.1 Global Proton Exchange Membrane Fuel Cells (PEMFC) Market, 2014 - 2022, (Mega Watts) (USD Billion)
    • 5.3 Molten Carbonate Fuel Cells (MCFC)
      • 5.3.1 Global Molten Carbonate Fuel Cells (MCFC) Market, 2014 - 2022, (Mega Watts) (USD Billion)
    • 5.4 Solic Oxide Fuel Cells (SOFC)
      • 5.4.1 Global Solic Oxide Fuel Cells (SOFC) Market, 2014 - 2022, (Mega Watts) (USD Billion)
    • 5.5 Direct Methanol Fuel Cells (DMFC)
      • 5.5.1 Global SDirect Methanol Fuel Cells (DMFC) Market, 2014 - 2022, (Mega Watts) (USD Billion)
    • 5.6 Phosphoric Acid Fuel Cells (PAFC)
      • 5.6.1 Global Phosphoric Acid Fuel Cells (PAFC) Market, 2014 - 2022, (Mega Watts) (USD Billion)
    • 5.7 Others
      • 5.7.1 Global Other Fuel Cells Market, 2014 - 2022, (Mega Watts) (USD Billion)
  • Chapter 6 Global Fuel Cells Market – Application Segment Analysis
    • 6.1 Global Fuel Cells Market: Application Segment Overview
      • 6.1.1 Global Fuel Cells Market Volume Share, by Application, 2016 and 2022
    • 6.2 Stationary
      • 6.2.1 Global Fuel Cells Market For Stationary Applications, 2014 - 2022, (Mega Watts) (USD Billion)
    • 6.3 Transport
      • 6.3.1 Global Fuel Cells Market For Transport Applications, 2014 - 2022, (Mega Watts) (USD Billion)
    • 6.4 Portable
      • 6.4.1 Global Fuel Cells Market For Portable Applications, 2014 - 2022, (Mega Watts) (USD Billion)
  • Chapter 7 Global Fuel Cells Market – Regional Segment Analysis
    • 7.1 Global Fuel Cells Market: Regional Overview
      • 7.1.1 Global fuel cells market volume share by region, 2016 and 2022
    • 7.2 North America
      • 7.2.1 North America fuel cells market, 2014 - 2022 (Mega Watts) (USD Billion)
      • 7.2.2 North America fuel cells market volume by type, 2014 - 2022 (Mega Watts)
      • 7.2.3 North America fuel cells market revenue by type, 2014 - 2022 (USD Billion)
      • 7.2.4 North America fuel cells market volume by application, 2014 - 2022 (Mega Watts)
      • 7.2.5 North America fuel cells market revenue by application, 2014 - 2022 (USD Billion)
    • 7.3 Europe
      • 7.3.1 Europe fuel cells market, 2014 - 2022 (Mega Watts) (USD Billion)
      • 7.3.2 Europe fuel cells market volume by type, 2014 - 2022 (Mega Watts)
      • 7.3.3 Europe fuel cells market revenue by type, 2014 - 2022 (USD Billion)
      • 7.3.4 Europe fuel cells market volume by application, 2014 - 2022 (Mega Watts)
      • 7.3.5 Europe fuel cells market revenue by application, 2014 - 2022 (USD Billion)
    • 7.4 Asia Pacific
      • 7.4.1 Asia Pacific fuel cells market, 2014 - 2022 (Mega Watts) (USD Billion)
      • 7.4.2 Asia Pacific fuel cells market volume by type, 2014 - 2022 (Mega Watts)
      • 7.4.3 Asia Pacific fuel cells market revenue by type, 2014 - 2022 (USD Billion)
      • 7.4.4 Asia Pacific fuel cells market volume by application, 2014 - 2022 (Mega Watts)
      • 7.4.5 Asia Pacific fuel cells market revenue by application, 2014 - 2022 (USD Billion)
    • 7.5 Latin America
      • 7.5.1 Latin America fuel cells market, 2014 - 2022 (Mega Watts) (USD Billion)
      • 7.5.2 Latin America fuel cells market volume by type, 2014 - 2022 (Mega Watts)
      • 7.5.3 Latin America fuel cells market revenue by type, 2014 - 2022 (USD Billion)
      • 7.5.4 Latin America fuel cells market volume by application, 2014 - 2022 (Mega Watts)
      • 7.5.5 Latin America fuel cells market revenue by application, 2014 - 2022 (USD Billion)
    • 7.6 Middle East & Africa
      • 7.6.1 Middle East & Africa fuel cells market, 2014 - 2022 (Mega Watts) (USD Billion)
      • 7.6.2 Middle East & Africa fuel cells market volume by type, 2014 - 2022 (Mega Watts)
      • 7.6.3 Middle East & Africa fuel cells market revenue by type, 2014 - 2022 (USD Billion)
      • 7.6.4 Middle East & Africa fuel cells market volume by application, 2014 - 2022 (Mega Watts)
      • 7.6.5 Middle East & Africa fuel cells market revenue by application, 2014 - 2022 (USD Billion)
  • Chapter 8 Company Profile
    • 8.1 AFC Energy
      • 8.1.1 Overview
      • 8.1.2 Product Portfolio
      • 8.1.3 Business Strategy
      • 8.1.4 Recent Developments
    • 8.2 Aisin Seiki Co. Ltd.
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Ballard Power Systems Inc.
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 Bloom Energy
      • 8.4.1 Overview
      • 8.4.2 Product Portfolio
      • 8.4.3 Business Strategy
      • 8.4.4 Recent Developments
    • 8.5 Ceramic Fuel Cells Limited
      • 8.5.1 Overview
      • 8.5.2 Product Portfolio
      • 8.5.3 Business strategy
      • 8.5.4 Recent Developments
    • 8.6 Ceres Power Holdings PLC
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
    • 8.7.4 Recent Developments
      • 8.7 Doosan Corporation
      • 8.7.1 Overview
      • 8.7.2 Product Portfolio
      • 8.7.3 Business Strategy
      • 8.7.4 Recent Developments
    • 8.8 Fuelcell Energy
      • 8.8.1 Overview
      • 8.8.2 Product Portfolio
      • 8.8.3 Business Strategy
      • 8.8.4 Recent Developments
    • 8.9 Horizon Fuel Cell Technologies
      • 8.9.1 Overview
      • 8.9.2 Product Portfolio
      • 8.9.3 Business Strategy
      • 8.9.4 Recent Developments
    • 8.10 Hydrogenics Corporation
      • 8.10.1 Overview
      • 8.10.2 Product Portfolio
      • 8.10.3 Business Strategy
      • 8.10.4 Recent Developments

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Fuel Cells market. Zion Research has collected and analyzed key data belong to the global Fuel Cells market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Fuel Cells across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Fuel Cells industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Fuel Cells market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Global fuel cells market is expected to witness positive growth within the forecast period on account of increasing government incentives for the adoption of fuel cells. Fuel cells are devices that electrochemically combine hydrogen and oxygen to produce electricity, water, and heat. Unlike batteries, fuel cells continuously generate electricity as long as a source of fuel is supplied. Fuel cells do not burn fuel, helping to make the process quiet, pollution-free and around two to three times more efficient than combustion technologies.

A fuel cell system can be a truly zero-emission source of electricity when hydrogen is produced from nonpolluting sources. Growing government incentives and favorable policies for the adoption and application of fuel cells is expected to be the major driving factor of the global fuel cells market. Moreover, the technological innovations coupled with the commercialization of fuel cells have also been aiding the growth of the fuel cells market. Rising awareness about the benefits of fuel cells and depletion of fossil fuels is expected to surge the demand for fuel cells in the years to come. However, the lack of fuel cell infrastructure and the high cost of the fuel cell is expected to be a major restraint for the global fuel cells market. Technological advancements and favorable government policies to construct hydrogen power stations are expected to provide growth opportunities for the key players in the market over the coming years.

Fuel-Cells-Market

The fuel cells market can be segmented into categories by types such as proton exchange membrane fuel cells (PEMFC), molten carbonate fuel cells (MCFC), solid oxide fuel cells (SOFC), direct methanol fuel cells (DMFC), phosphoric acid fuel cells (PAFC) and others. PEMFC accounted for the largest share of the global fuel cells market in 2016. This can be attributed to the wide range of applications of PEMFCs such as forklifts, automobiles, telecommunications, data centers and primary & backup power systems. SOFC segment is expected to register remarkable growth within the forecast period owing to their ability to operate at high temperatures that reduce the requirement of costly catalysts.

Stationary, transport, and portable are the application segments of the global fuel cells market. Among applications, stationary accounted for the largest market share in 2016 owing to factors such as high efficiency & utilization of direct current, flexibility in the choice of fuels etc. Transport segment is expected to witness significant growth during the forecast period due to the increasing research and development activities to produce hybrid vehicles that are not completely reliant on fossil fuels.

North America accounted for most of the global market share in 2016 and is expected to grow in light of the government regulations in the region that promotes the adoption of fuel cells. Moreover, the technological developments in the region are expected to further drive the growth of the North America fuel cells market within the forecast period. Asia Pacific is expected to witness significant growth owing to the large demand for a sustainable source of energy in order to meet the demands of the enormously expanding population in the region.

The key players in the global fuel cells market are AFC Energy, Aisin Seiki Co. Ltd., Ballard Power Systems Inc., Bloom Energy, Ceramic Fuel Cells Limited, Ceres Power Holdings PLC, Doosan Corporation, Fuelcell Energy, Horizon Fuel Cell Technologies and Hydrogenics Corporation among others.

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