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Fuel Cell Market Analysis, Market Size, Application

Analysis, Regional Outlook, Competitive Strategies And
Forecasts, 2012 To 2020

Conventional energy resources such as fossil fuels reserves depletion is expected to boost the global fuel
cell market demand over the next five years. Fuel cell devices convert chemical energy into electricity
through a chemical reaction within the device. The process requires an oxidizing agent which acts as a
catalyst to propagate the reaction and uses hydrogen as primary feedstock.
Conventional electricity generation processes utilize fossil fuels as primary feedstock is facing uncertain
raw material supply owing to reserves depletion, whereas fuel cell utilizes hydrogen which is available in
abundant quantity. This key factor is anticipated to drive the fuel cell market growth over the forecast
period. Fuel cell gained acceptance worldwide due to eco-friendly nature as their product only consists
of nitrous oxide which is projected to witness a significant market growth over the foreseeable future.
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Fuel cells lack noise creation while electricity generation process as compared to conventional methods
which create lots of noise due to moving parts during combustion process. This is anticipated to spur the
fuel cell market growth over the next five years. Fuel cell based electricity generation facilities generates
one ounce of pollutants to produce 1000 KWH of electricity whereas fossil fuel based electricity facilities
creates 25 pounds of pollutants to generate same amount of electricity. The product provides most
efficient power back owing to wide range of operating time and can be installed in several types of
devices including refrigerators.
Various nations such as Denmark, Finland and Norway have opened hydrogen stations to enhance their
fuel cell infrastructure. In 2009, American Recovery and Reinvestment Act was approved to manage fuel
cells and hydrogen projects portfolio. This act supports accelerating fuel cells commercialization for
installation, manufacturing, maintenance and services. The Department of Energy is broadly involved in
R&D activities to improve fuel cell technology. The extensive governments support is anticipated to
generate ample opportunities in near future.
The increasing requirement to reduce emission and enhanced fuel efficiency has led researchers to
develop fuel cell based commercial vehicles which utilize hydrogen as primary feedstock. Daimler and
Hyundai are the prominent participants in fuel cell based vehicles (FCEV-fuel cell electric vehicle) and
planning to launch commercialized vehicle in 2015. This is projected to create awareness about the
product among the consumers towards fuel cell market.
Fuel cell market is segmented based on products as Solid Oxide (SOFC), Alkaline, Molten Carbonate
(AMCFC), Phosphoric Acid (PAFC), Direct Methanol (DMFC) and Proton Exchange Membrane (PEMFC).
PEMFC was the largest product segment in the market accounting for over 39% of the global capacity in
2013. It also held the largest market share as per the number of units shipped owing to increasing
applications in forklifts, telecommunications, automobiles, primary systems, data centers and backup
power systems.
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DMFC was the second major product segment owing to power supply over a longer time period which
makes them suitable for mobile phones, laptops and cameras. MCFC are used in static power generation
units on a large scale and is expected to be the fastest growing segment owing to large installed capacity
and several applications.
Fuel cells are segmented based on applications as portable, stationary and transportation. Portable
applications include APU, personal electronics, consumer products and portable products. Portable

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application market was the largest market in 2013 accounting for over 70% of the total sold units. UPS,
CHP and residential power are stationary applications. Transportation applications include auxiliary
power and fuel cell based electric vehicles. The installed capacity of stationary fuel cell exceeded 90MW
in 2013 and is expected to grow at fast pace. Transportation segment is not so popular now but is
anticipated to grow over the forecast period owing to increasing R&D activites.
North America dominated the fuel cell market in 2013 in terms of unit shipments and installed capacity
on account of government regulatory scenario and technological advancements. The region dominated
the market accounting for over 40% of the installed capacity and is also anticipated to grow over the
forecast period owing to commercialization of fuel cell products and technology. Asia Pacific was the
second major fuel cell market in terms of installed capacity accounting for over 38%. Japan was the
major fuel cell consumer followed by South Korea in the region due to large CHP demand.
The global fuel cell market was extensively concentrated due to top five participants contributed over
80% market share in 2013. Key player in the market is Fuel Cell Energy accounted for over 30% of the
total market and is expected to sustain in the market owing to expansion in Bridgeport which is going to
be the worlds largest fuel cell plant. Other participants in the fuel cell market include Toshiba, Ballard,
Panasonic and Clearedge.
Table of Contents
Chapter 1 Executive Summary
1.1 Fuel Cell - Industry Summary & Critical Success Factors (CSFs)
Chapter 2 Fuel Cell Industry Outlook
2.1 Market Segmentation
2.2 Market Size and Growth Prospects
2.3 Fuel Cell Value Chain Analysis
2.4 Fuel Cell Market Dynamics
2.5 Key Opportunities Prioritized
2.6 Industry Analysis - Porters
2.7 Fuel Cell - Company Market Share Analysis
2.8 Fuel Cell - PESTEL Analysis
Chapter 3 Fuel Cell Product Outlook
3.1 PEMFC
3.2 DMFC

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3.3 PAFC
3.4 SOFC
3.5 MCFC
3.6 AFC
3.7 Others
Chapter 4 Fuel Cell Application Outlook
4.1 Portable fuel cell
4.2 Stationary fuel cell
4.3 Transportation fuel cell
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Chapter 5 Fuel Cell Regional Outlook
5.1 North America
5.2 Europe
5.3 Asia Pacific
5.4 RoW
Chapter 6 Fuel Cell Competitive landscape
6.1 Fuel Cell Energy
6.2 Ballard
6.3 Clearedge
6.4 Toshiba
6.5 Panasonic
6.6 Plug Power Inc.
6.7 Hydrogenics Corporation
6.8 SFC Energy AG
6.9 Plug Power Inc
6.10 UTC Power
6.11 Nedstack Fuel Cell Technologies
6.12 Bloom Power
Chapter 7 Methodology and Scope
7.1 Research Methodology

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7.2 Research Scope & Assumption
7.3 List of Data Sources
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