• Japanese
  • Korean
  • Chinese
Cover Image

Fuel Cells Annual Report 2014 - Stationary, Portable and Transportation Fuel Cell Sectors: 2013 & 2014 Global Market Developments

Stationary, Portable, and Transportation Fuel Cell Sectors: 2013 and 2014 Global Market Developments

During 2013 and 2014, the fuel cell market continued to see the greatest demand from stationary applications, including utility-scale fuel cells, fuel cells for industrial and commercial buildings, and fuel cells for residential power. These markets are still very location-specific. Japan is focusing primarily on residential units, while North America and South Korea have adopted the larger fuel cell systems. Backup power is a market mainly in North America, but also in emerging economies - especially in Southeast Asia.

Much of the interest in stationary fuel cells is driven by a shift toward distributed generation (DG), which has become the buzz phrase for the power sector. DG represents a shift away from the traditional centralized power generation model toward a more diverse and resilient grid infrastructure that includes widely dispersed and smaller generation power plants. Fuel cells fit neatly into the spectrum of technologies that support this movement. As a result, Navigant Research expects the stationary sector to have the strongest global potential within the fuel cell market in terms of fuel cell systems shipped. The transportation sector has the potential to lead in terms of fuel cell capacity shipped, as fuel cell vehicles (FCVs) are expected to take off in the 2020 timeframe.

This Navigant Research report provides a global analysis of major developments and trends in the fuel cell industry, with a focus on the stationary, portable, and transportation sectors. The study features an analysis of actual fuel cell systems and capacity shipped from 2010 to 2013, segmented by region, sector, application, electrolyte, and fuel type, as well as system revenue. Global market forecasts for fuel cell systems and capacity shipped and system revenue extend through 2023. The study also includes a special section on the growing interest in DG and profiles over 30 companies active in the global fuel cell industry.

Key Questions Addressed:

  • What have been the major trends in the global fuel cell industry in 2013 and 2014
  • What is the current growth rate of the worldwide fuel cell industry by region and by sector
  • What have been the leading applications in the stationary, portable, and transportation fuel cell sectors
  • Which regions are leading in terms of manufacturing and in terms of revenue
  • How is the shift toward distributed generation (DG) affecting the global fuel cell market
  • What are the global prospects for the adoption of stationary, portable, and transportation fuel cells

Who needs this report

  • Fuel cell system and stack developer companies
  • Fuel cell component suppliers
  • Fuel cell vehicle (FCV) manufacturers
  • Infrastructure providers
  • Energy storage vendors
  • Industry associations
  • Government agencies
  • Investor community

Table of Contents

1. Executive Summary

  • 1.1 Introduction
  • 1.2 Market Forecasts

2. Market Issues

  • 2.1 Introduction
    • 2.1.1 Overview of Fuel Cell Application Areas
  • 2.2 Key Fuel Cell Market Trends
    • 2.2.1 MicroCHP Market Still Strongest in Japan
    • 2.2.2 South Korea Continues to Bring Fuel Cell Technology In-Country
    • 2.2.3 Microgrids
      • 2.2.3.1 Focus on Connecticut Microgrid Program
    • 2.2.4 Non-Ownership Business Models
    • 2.2.5 FCVs Coming to Market
    • 2.2.6 Power-to-Gas Concept
    • 2.2.7 Portable Sector Still Weak
  • 2.3 Special Focus: Power Sector Shifts toward DG
    • 2.3.1 Policies Promoting Fuel Cells
    • 2.3.2 Renewable Energy Targets and DG Carve-Outs
      • 2.3.2.1 North America
      • 2.3.2.2 Europe
      • 2.3.2.3 South Korea
    • 2.3.3 FITs and Net Metering
      • 2.3.3.1 North America
      • 2.3.3.2 Europe
      • 2.3.3.3 Japan and South Korea
    • 2.3.4 Economics of Distributed Energy
    • 2.3.5 Resiliency and the Electrical Grid

3. Market Overview 2013

  • 3.1 Overview
  • 3.2 Overall Industry Growth
  • 3.3 Capacity Shipped by Application
    • 3.3.1 Prime Power
    • 3.3.2 Portable Power
    • 3.3.3 Military
    • 3.3.4 Transportation
  • 3.4 Development by Revenue
  • 3.5 Developments by Geography
  • 3.6 Development by Electrolyte
  • 3.7 Development by Fuel

4. Key Industry Players

  • 4.1 Introduction
  • 4.2 Fuel Cell Technology Companies
    • 4.2.1 AFC Energy (AFC)
    • 4.2.2 Altergy Systems (PEM)
    • 4.2.3 Ballard Power Systems (PEM)
    • 4.2.4 Baxi Innotech (PEM)
    • 4.2.5 Bing Energy (PEM)
    • 4.2.6 Bloom Energy (SOFC)
    • 4.2.7 Ceramic Fuel Cells Ltd. (SOFC)
    • 4.2.8 Ceres Power (SOFC)
    • 4.2.9 Cummins Inc. (SOFC, Others)
    • 4.2.10 Doosan Corp. (PEM and PAFC)
    • 4.2.11 Electro Power Systems (PEM)
    • 4.2.12 FuelCell Energy (MCFC, SOFC)
    • 4.2.13 GS Caltex (PEM)
    • 4.2.14 Horizon Fuel Cell Technologies (PEM)
    • 4.2.15 Hydrogenics (PEM, Fueling)
    • 4.2.16 Hyosung Power & Industrial Systems (PEM)
    • 4.2.17 Intelligent Energy (PEM)
    • 4.2.18 ITM Power (PEM)
    • 4.2.19 JX Nippon Oil & Energy Corp. (SOFC)
    • 4.2.20 Nuvera Fuel Cells (PEM, Fueling)
    • 4.2.21 Oorja Fuel Cells (DMFC)
    • 4.2.22 Panasonic (PEM)
    • 4.2.23 Plug Power (PEM, Fueling)
    • 4.2.24 POSCO Energy (MCFC)
    • 4.2.25 ReliOn (PEM)
    • 4.2.26 SerEnergy (HT-PEM)
    • 4.2.27 SFC Energy (DMFC)
  • 4.3 Vehicle Providers
    • 4.3.1 Daimler (PEM)
    • 4.3.2 GM (PEM)
    • 4.3.3 Honda (PEM)
    • 4.3.4 Hyundai (PEM)
    • 4.3.5 Toyota (PEM)
    • 4.4 Other Industry Participants

5. Market Forecasts

  • 5.1 Introduction
  • 5.2 Model Overview
    • 5.2.1 Qualitative Overview of Key Flex Points in the Model
  • 5.3 Fuel Cell Shipments by Sector
  • 5.4 Fuel Cell Shipments by Electrolyte
  • 5.5 Fuel Cell Shipments and Revenue by Region
  • 5.6 Hydrogen Demand
  • 5.7 Conclusions and Recommendations

6. Company Directory

7. Acronym and Abbreviation List

8. Table of Contents

9. Table of Charts and Figures

10. Scope of Study, Sources and Methodology, Notes

List of Charts and Figures

  • Fuel Cell System Capacity Shipped by Market Sector, World Markets: 2014-2023
  • Annual Capacity of Wind Installed and Power-to-Gas Capacity by Scenario, Select European Countries: 2014-2018
  • Solar PV Cost Curve, World Markets: 1992-2012
  • PEM Fuel Cell Cost Curve, World Markets: 2002-2017
  • Fuel Cell Systems Shipped by Market Sector, World Markets: 2010-2013
  • Fuel Cell System Capacity Shipped by Market Sector and Total Revenue, World Markets: 2010-2013
  • Fuel Cell System Capacity Shipped by Application and Market Sector, World Markets: 2011-2013
  • Fuel Cell System Revenue by Market Sector, World Markets: 2010-2013
  • Fuel Cell System Revenue by Region of Company Headquarters, World Markets: 2010-2013
  • Fuel Cell System Capacity Shipped by Region of Manufacture, World Markets: 2010-2013
  • Fuel Cell System Capacity Shipped by Region of Manufacture and Electrolyte, World Markets: 2012-2013
  • Fuel Cell Systems Shipped by Fuel Type, World Markets: 2010-2013
  • Fuel Cell Systems Shipped by Market Sector, World Markets: 2014-2023
  • Fuel Cell System Capacity Shipped by Electrolyte, World Markets: 2014-2023
  • Fuel Cell Systems Shipped by Region of Manufacture, World Markets: 2014-2023
  • Fuel Cell System Revenue by Region of Manufacture, World Markets: 2014-2023
  • Hydrogen Consumption by Region of Production, World Markets: 2014-2030
  • Renewable Portfolio Standards with Solar/Distributed Generation Provisions by U.S. State

List of Tables

  • Microgrid Capacity by Region, World Markets: 2Q 2014
  • Renewable Energy Generation Required under RPS, South Korea: 2012-2020
  • Estimated Losses per Hour of Grid Failure
  • Fuel Cell Systems Shipped by Market Sector, World Markets: 2010-2013
  • Fuel Cell System Capacity Shipped by Market Sector and Total Revenue, World Markets: 2010-2013
  • Fuel Cell System Capacity Shipped by Application and Market Sector, World Markets: 2011-2013
  • Fuel Cell System Revenue by Market Sector, World Markets: 2010-2013
  • Fuel Cell System Capacity Shipped by Market Sector, World Markets: 2014-2023
  • Fuel Cell Systems Shipped by Market Sector, World Markets: 2014-2023
  • Fuel Cell System Capacity Shipped by Electrolyte, World Markets: 2014-2023
  • Fuel Cell Systems Shipped by Region of Manufacture, World Markets: 2014-2023
  • Fuel Cell System Revenue by Region of Manufacture, World Markets: 2014-2023
  • Hydrogen Consumption by Region of Production, World Markets: 2014-2023
  • Policy or Regulation Pushing Adoption of Stationary Fuel Cells
  • Stationary Fuel Cells in Resiliency Applications
  • Other Industry Participants in 2014
  • Event Types That Affect a Forecast
Show More
Pricing