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Pike Pulse Report: Prime Power Fuel Cells - Assessment of Strategy and Execution for 17 Leading Prime Power Fuel Cell System Manufacturers

Notice
This publication has been discontinued on March 22, 2014.

Abstract

The stationary fuel cell prime power market is experiencing rapid growth. With an increasing number of companies offering commercial products to the non-residential market, commercial adopters are demonstrating increased interest. The residential market is only a matter of months behind. In fact, a few forward looking companies already have fully certified products in the market in limited regions.

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Within this fluid, vibrant phase of market growth we are starting to see some new market trends appearing. These include the electrons or hardware business model where adopters lease or buy the stationary fuel cell prime power unit. The benefits of both vary depending on the adopter and, interestingly, the country in which the company is operating. In terms of geography, we have seen some companies developing a single country specific product, for example in the Japanese residential market. So although a company may be leading today, in terms of deployment, looking forward it could face significant barriers to entry for its product in other regions.

This Pike Research report evaluates 17 of the leading prime power station fuel cell developers and rates them on 12 criteria for strategy and execution, including go-to-market strategy, product portfolio, partnerships, innovation, reach, market share, pricing, and staying power. Using Pike Research' s proprietary Pike Pulse methodology, developers are profiled, rated, and ranked with the goal of providing industry participants with an objective assessment of these companies' relative strengths and weaknesses in the rapidly growing prime power stationary fuel cell market.

Top 17 Vendors:

  • 1. FuelCell Energy
  • 2. UTC Power
  • 3. Hydrogenics
  • 4. POSCO Power
  • 5. ClearEdge Power
  • 6. Ceramic Fuel Cells
  • 7. Fuji Electric
  • 8. Panasonic; Toshiba Fuel Cell Power; Eneos Celltech
  • 9. Topsoe Fuel Cell
  • 10. Bloom Energy
  • 11. Intelligent Energy
  • 12. Baxi Innotech
  • 13. Ceres Power
  • 14. Hexis
  • 15. GS Fuel Cells

Key Questions Addressed:

  • Who are the leading manufacturers of prime power stationary fuel cell systems?
  • What are the evolving business models and global company positioning?
  • Which companies are explorers and which are settlers, and why this is important?
  • Which companies potentially face large barriers to entry to market?
  • What business relationships are critical to long term success in the market?

Who needs this report?

  • Utilities
  • Prime power stationary fuel cell manufacturers
  • Energy companies
  • Government agencies
  • Investor community
  • Industry associations

Table of Contents

1. Executive Summary

2. Market Overview

  • 2.1 Market Definition
    • 2.1.1 Global Market for Prime Power
    • 2.1.2 Residential and Commercial
    • 2.1.3 Business Models
  • 2.2 Market Trends
    • 2.2.1 Explorers vs. Settlers
    • 2.2.2 Geography
    • 2.2.3 Cross-Border Deals
    • 2.2.4 Adoption Subsidies - Not R&D Funding
  • 2.3 Market Drivers
    • 2.3.1 Residential
    • 2.3.2 Commercial
      • 2.3.2.1 Grid Outages
      • 2.3.2.2 Policy and Legislation

3. The Pike Pulse

  • 3.1 Pike Pulse Grid
  • 3.2 Company Rankings
    • 3.2.1 FuelCell Energy
    • 3.2.2 UTC Power
    • 3.2.3 Hydrogenics
    • 3.2.4 POSCO Power
    • 3.2.5 ClearEdge Power
    • 3.2.6 Ceramic Fuel Cells
    • 3.2.7 Fuji Electric
    • 3.2.8 Panasonic, Toshiba Fuel Cell Power, and Eneos Celltech
    • 3.2.9 Topsoe Fuel Cell
    • 3.2.10 Bloom Energy
    • 3.2.11 Intelligent Energy
    • 3.2.12 Baxi Innotech
    • 3.2.13 Ceres Power
    • 3.2.14 Hexis
    • 3.2.15 GS Fuel Cells

4. Vendor Profiles

  • 4.1 Leaders
    • 4.1.1 FuelCell Energy (MCFC: United States)
  • 4.2 Contenders
    • 4.2.1 UTC Power (PAFC: United States)
    • 4.2.2 Hydrogenics (PEM: Canada)
    • 4.2.3 POSCO Power (MCFC, SOFC: South Korea)
    • 4.2.4 ClearEdge Power (HTPEM: United States)
    • 4.2.5 Ceramic Fuel Cells (SOFC: Australia/United Kingdom)
    • 4.2.6 Fuji Electric (PAFC: Japan)
    • 4.2.7 Panasonic/Toshiba Fuel Cell Power/Eneos Celltech (PEM: Japan)
  • 4.3 Challengers
    • 4.3.1 Topsoe Fuel Cell (SOFC: Denmark)
    • 4.3.2 Bloom Energy (SOFC: United States)
    • 4.3.3 Intelligent Energy (PEM: United Kingdom)
    • 4.3.4 Baxi Innotech (PEM: Germany)
    • 4.3.5 Ceres Power (SOFC: United Kingdom)
    • 4.3.6 Hexis (SOFC: United Kingdom)
    • 4.3.7 GS Fuel Cells (PEM: South Korea)
  • 4.4 Followers

5. Company Directory

6. Acronym and Abbreviation List

7. Table of Contents

8. Table of Charts and Figures

9. Methodology

  • 9.1 Scope of Study
  • 9.2 Sources and Methodology
    • 9.2.1 Vendor Selection
    • 9.2.2 Ratings Scale
      • 9.2.2.1 Score Calculations
    • 9.2.3 Criteria Definitions
      • 9.2.3.1 Strategy
      • 9.2.3.2 Execution

List of Charts and Figures

  • The Pike Pulse Grid
  • Fuel Cell Shipments by Application, World Markets: 2008-2010
  • Breakdown by Unit Size of Prime Power Fuel Cell Systems Being Developed by Companies Outlined in This Pike Pulse
  • The Pike Pulse Grid for Prime Power Fuel Cell Companies
  • The Pike Pulse Grid for Residential Prime Power Fuel Cell Companies
  • The Pike Pulse Grid for Commercial Prime Power Fuel Cell Companies
  • FuelCell Energy Pike Pulse Position
  • FuelCell Energy Strategy & Execution Scores
  • UTC Power Pike Pulse Position
  • UTC Power Strategy & Execution Scores
  • Hydrogenics Pike Pulse Position
  • Hydrogenics Strategy & Execution Scores
  • POSCO Power Pike Pulse Position
  • POSCO Power Strategy & Execution Scores
  • ClearEdge Power Pike Pulse Position
  • ClearEdge Power Strategy & Execution Scores
  • Ceramic Fuel Cells Pike Pulse Position
  • Ceramic Fuel Cells Strategy & Execution Scores
  • Fuji Electric Pike Pulse Position
  • Fuji Electric Strategy & Execution Scores
  • Panasonic Pike Pulse Position
  • Panasonic Strategy & Execution Scores
  • Toshiba Fuel Cell Power Pike Pulse Position
  • Toshiba Fuel Cell Power Strategy & Execution Scores
  • Eneos Celltech Pike Pulse Position
  • Eneos Celltech Strategy & Execution Scores
  • Topsoe Fuel Cell Pike Pulse Position
  • Topsoe Fuel Cell Strategy & Execution Scores
  • Bloom Energy Pike Pulse Position
  • Bloom Energy Strategy & Execution Scores
  • Intelligent Energy Pike Pulse Position
  • Intelligent Energy Strategy & Execution Scores
  • Baxi Innotech Pike Pulse Position
  • Baxi Innotech Strategy & Execution Scores
  • Ceres Power Pike Pulse Position
  • Ceres Power Strategy & Execution Scores
  • Hexis Pike Pulse Position
  • Hexis Strategy & Execution Scores
  • GS Fuel Cells Pike Pulse Position
  • GS Fuel Cells Strategy & Execution Scores
  • Percentage Change in Residential Energy Consumption: 1996-2006
  • Japanese Ten-Year Fuel Cell Roadmap

List of Tables

  • Vendor Overall Scores
  • Fuel Cell Shipments by Application, World Markets: 2008-2010
  • Breakdown by Unit Size of Prime Power Fuel Cell Systems Being Developed by Companies
  • Vendor Overall Scores
  • The Pike Pulse Grid for Residential Prime Power Fuel Cell Companies
  • The Pike Pulse Grid for Commercial Prime Power Fuel Cell Companies
  • Vendor Scores
  • Vendor Scores on Strategy Criteria
  • Vendor Scores on Execution Criteria
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