The Global Fuel Cells Market Key Trends And Growth Opportunities Up To 2015 Gbi Sample

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The Global Fuel Cells Market Key Trends And Growth Opportunities Up To 2015 Gbi Sample

  1. 1. The Global Fuel Cells Market: Key Trends and Growth Opportunities up to 2015 Reference Code: GMDAE0006MR Publication Date: January 2010 Demand for clean sources Fuel Cells Market to Commercialize by 2013-2015 of electricity generation and storage is expected to Demand for non-toxic-substance-based energy storage is expected to accelerate the demand for accelerate the demand for stationary fuel cells in the coming decade. Technological advancements and an increase in sales fuel cells. The fuel cells are expected to bring the cost of fuel cells down. As a result, the technology is expected to become market is expected to commercialized by 2013-2015. commercialize by 2013- Fuel Cells Market is in its Nascent Stage of Development 2015 Despite the various advantages of the technology, the fuel cell market is yet to be a part of the mainstream market mainly due to its high cost and lower durability than grid power. The fuel cell industry is highly fragmented. This is primarily because most of the technological developments are taking place in universities or government laboratories which further spin out as new business units and seek private equity and venture funding from established corporations. Integration of Nanotechnology to Enhance Fuel Cells Market Potential Nanotechnology is providing increased durability to fuel cells and is making its costs competitive with traditional sources of power generation. In 2008 more than XXX organizations engaged in nanotechnology for fuel cells and hydrogen energy spent more than $XX billion on the incorporation of nanotechnology with fuel cells and hydrogen energy. Fuel cell technology development coupled with integration of nanotechnology will provide the fuel cell market with greater reliability, durability, and power, at a lower cost along with the advantages of lower emissions and fuel saving. Price of Fuel Cell Installations to Go Down in the Future The price of fuel cells is expected to decrease in the near future as production increases as a result of government support in terms of subsidies and coordinated R&D, coupled with technological development in making fuel cell manufacturing more productive. Environmental Concerns Driving the Fuel Cells Market Fuel cells are an emission free power sources used for vehicles, potable devices, and residential, commercial, and industrial purposes. The rising energy demand boosts the need for clean sources of power generation which in turn gives way to fast paced development of the fuel cells market. Lack of Infrastructure Hampering Market Development The global market for power supply systems does not have the adequate infrastructure required to transport, distribute, and store fuel cell systems and the fuels used in them. As a result, the fuel cells market is unable to cater effectively to the growth in demand for systems. Fuel cell vehicle manufacturers also anticipate infrastructure as the primary bottleneck in the development of technology. Hydrogen fuelling stations are slow to develop and are also expensive which adds to the challenges for the technology. Investments Are Pooling in for Fuel Cell Development Since 2002 the fuel cells market has attracted the investment of more than $663m in the form of equity financing, private placement, private equity, venture financing, and so on. Korea’s Emerging Fuel Cell Technology The Korean fuel cell market is in a nascent stage and is expected to witness rapid growth in the near future as a result of government supported policies. Korea has about nine fuel cell units installed in various regions. The major driver behind the future development of the hydrogen and fuel cell industry in Korea is the country’s need to achieve energy security. Japan Has the Largest Fuel Cell Installations Japan has the largest cumulative fuel cell installations in the world with XXX units installed out of about 2,500 units across the globe. This is primarily because of the government supported policies that are aimed at a carbon emission reduction of XX% from 1990 levels by 2020. The Global Fuel Cells Market: Key Trends and Growth GMDAE0006MR /Published JAN 2010 Opportunities up to 2015 Page 1 © GBI Research. This is a licensed product and is not to be photocopied
  2. 2. Research Scope and Definition This study analyzes the global market scenario and growth opportunities for fuel cell systems. This research does not cover fuel cell-based equipments such as fuel cell inverters. Geographically, this study covers key countries active in fuel cell technology development, namely, the US, the UK, Germany, Japan, and South Korea. The timeframe of the study is from the 1980s to 2015. The historical period refers to the period from the 1980s to 2008. The forecast period is from 2009 to 2015. Numbers for 2009 are estimated for the year. The Global Fuel Cells Market: Key Trends and Growth GMDAE0006MR /Published JAN 2010 Opportunities up to 2015 Page 2 © GBI Research. This is a licensed product and is not to be photocopied
  3. 3. 1 Table of Contents 1 Table of Contents .................................................................................................................... 3 1.1 List of Tables.................................................................................................................. 5 1.2 List of Figures................................................................................................................. 7 2 Global Fuel Cell Market Analysis ............................................................................................. 9 2.1 Global Fuel Cell Market, Technology Analysis ............................................................... 9 2.1.1 What is a Fuel Cell? .................................................................................................. 9 2.1.2 Types of Fuel Cells.................................................................................................... 9 2.1.3 Applications of Fuel Cells ........................................................................................ 11 2.1.4 Benefits of the Technology ...................................................................................... 12 2.2 Global Fuel Cell Market, Market Analysis..................................................................... 12 2.2.1 Market Overview ..................................................................................................... 12 2.2.2 Distribution Channel ................................................................................................ 13 2.2.3 Purchase Criteria for End-users .............................................................................. 14 2.2.4 Fuel Cell Installations .............................................................................................. 15 2.2.5 Production Value and Revenues, 2007-2008 .......................................................... 22 2.2.6 Market Drivers ......................................................................................................... 22 2.2.7 Market Restraints and Challenges .......................................................................... 23 2.2.8 Push and Pull Factors Affecting the Market............................................................. 25 3 Global Fuel Cell Market, Market Share Analysis.................................................................... 26 3.1 Global Fuel Cell Market, Global Market Share Analysis............................................... 26 3.2 Global Fuel Cell Market, Market Share Analysis by Fuel Cell Type ............................. 27 3.3 Market Share Analysis in Transportation Sector .......................................................... 29 3.3.1 Market Share Analysis, Light Duty Vehicles ............................................................ 29 3.3.2 Market Share Analysis, Fuel Cell Buses.................................................................. 31 3.4 Global Fuel Cell Market, Market Share Analysis by Power Range............................... 33 3.4.1 Global Fuel Cell Market, Market Share Analysis for fuel cells in power range less than 1 kW ................................................................................................................ 33 3.4.2 Global Fuel Cell Market, Market Share Analysis for fuel cells in power range 1kW- 5kW ......................................................................................................................... 34 3.4.3 Global Fuel Cell Market, Market Share Analysis for fuel cells in power range 5kW- 250kW ..................................................................................................................... 35 3.4.4 Global Fuel Cell Market, Market Share Analysis for fuel cells in power range 250kW- 1MW ........................................................................................................................ 36 3.4.5 Global Fuel Cell Market, Market Share Analysis for fuel cells in power range greater than 1MW ................................................................................................................ 37 3.5 Global Fuel Cell Market, Market Share Analysis by Countries ..................................... 38 3.5.1 The US Fuel Cell Market, Manufacturers Share...................................................... 38 3.5.2 The UK Fuel Cell Market, Manufacturers Share...................................................... 43 3.5.3 Japan Fuel Cell Market, Manufacturers Share ........................................................ 45 3.5.4 Germany Fuel Cell Market, Manufacturers Share ................................................... 48 4 Global Fuel Cell Market, Investments Analysis...................................................................... 50 4.1 Historical Investment Trend.......................................................................................... 50 4.2 Top 10 Investments...................................................................................................... 50 5 Global Fuel Cell Market, Key Country Analysis ..................................................................... 52 5.1 Key Country Analysis – The US ................................................................................... 52 5.1.1 The US Fuel Cell Market, Overview ........................................................................ 52 5.1.2 Fuel Cell Installations .............................................................................................. 53 5.2 Key Country Analysis – The UK ................................................................................... 56 5.2.1 The UK Fuel Cell Market, Overview ........................................................................ 56 5.2.2 Fuel Cell Installations .............................................................................................. 57 5.3 Key Country Analysis – Germany ................................................................................ 58 5.3.1 Fuel Cell Installations .............................................................................................. 60 5.4 Key Country Analysis – Japan ..................................................................................... 63 5.4.1 Japan Fuel Cell Market, Overview........................................................................... 63 The Global Fuel Cells Market: Key Trends and Growth GMDAE0006MR /Published JAN 2010 Opportunities up to 2015 Page 3 © GBI Research. This is a licensed product and is not to be photocopied
  4. 4. 5.4.2 Fuel Cell Installations .............................................................................................. 64 5.5 Key Country Analysis – Korea...................................................................................... 66 6 UTC Power, Company Snapshot........................................................................................... 68 6.1 Key Information ............................................................................................................ 68 6.2 Company Overview...................................................................................................... 68 6.3 Competitors.................................................................................................................. 68 6.4 Locations And Subsidiaries .......................................................................................... 68 6.4.1 Head Office ............................................................................................................. 68 7 Plug Power Inc., Company Snapshot .................................................................................... 69 7.1 Key Information ............................................................................................................ 69 7.2 Company Overview...................................................................................................... 69 7.3 Competitors.................................................................................................................. 69 7.4 Locations And Subsidiaries .......................................................................................... 69 7.4.1 Head Office ............................................................................................................. 69 7.4.2 Other Locations & Subsidiaries ............................................................................... 70 8 Ballard Power Systems Inc., Company Snapshot.................................................................. 71 8.1 Key Information ............................................................................................................ 71 8.2 Company Overview...................................................................................................... 71 8.3 Competitors.................................................................................................................. 71 8.4 Locations And Subsidiaries .......................................................................................... 72 8.4.1 Head Office ............................................................................................................. 72 8.4.2 Other Locations & Subsidiaries ............................................................................... 72 9 FuelCell Energy, Inc., Company Snapshot ............................................................................ 73 9.1 Key Information ............................................................................................................ 73 9.2 Company Overview...................................................................................................... 73 9.3 Competitors.................................................................................................................. 73 9.4 Locations And Subsidiaries .......................................................................................... 73 9.4.1 Head Office ............................................................................................................. 73 9.4.2 Other Locations & Subsidiaries ............................................................................... 74 10 ReliOn Inc., Company Snapshot............................................................................................ 75 10.1 Key Information ............................................................................................................ 75 10.2 Company Overview...................................................................................................... 75 10.3 Competitors.................................................................................................................. 75 10.4 Locations And Subsidiaries .......................................................................................... 75 10.4.1 Head Office......................................................................................................... 75 11 Appendix................................................................................................................................ 76 11.1 Abbreviations ............................................................................................................... 76 11.2 Methodology................................................................................................................. 77 11.2.1 Coverage ............................................................................................................ 77 11.2.2 Secondary Research .......................................................................................... 78 11.2.3 Primary Research ............................................................................................... 78 11.2.4 Expert Panel Validation ...................................................................................... 78 11.3 Contact Us ................................................................................................................... 78 11.4 Disclaimer .................................................................................................................... 78 The Global Fuel Cells Market: Key Trends and Growth GMDAE0006MR /Published JAN 2010 Opportunities up to 2015 Page 4 © GBI Research. This is a licensed product and is not to be photocopied
  5. 5. 1.1 List of Tables Table 1: Global Fuel Cells Market, Annual Installations (Number of Units Installed) 1980s-2009 ..................................................................................................................................... 16 Table 2: Global Fuel Cells Market, Cumulative Installations (Number of Units Installed) 1980s- 2009 ............................................................................................................................. 17 Table 3: Global Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009 .......... 18 Table 4: Global Stationary Fuel Cells Market, Cumulative Installed Capacity Split by End-user Segments (%) 2008 ..................................................................................................... 19 Table 5: Global Stationary Fuel Cells Market, Cumulative Installed Capacity Split by End-user Application (%) 2008 .................................................................................................... 20 Table 6: Global Stationary Fuel Cells Market, Cumulative Installed Capacity Split by Fuel Type (%) 1980s-2008............................................................................................................ 21 Table 7: Global Fuel Cells Market, Production Value and Revenues ($m) 2007-2008 ............. 22 Table 8: Global Fuel Cells Market, Number of Hydrogen Fueling Stations by Country .............. 24 Table 9: Global Fuel Cells Market, Manufacturers Share (%) 2009 ........................................... 27 Table 10: Global Fuel Cells Market, Share of Fuel Cell Type (%) 2009 ....................................... 28 Table 11: Global Fuel Cells Market, Market Share Analysis for Manufacturers of Fuel Cell Light Duty Vehicles (%) 2009................................................................................................ 29 Table 12: Global Fuel Cells Market, Market Share Analysis for Manufacturers of Fuel Cell Light Duty Vehicles (%) 2009................................................................................................ 30 Table 13: Global Fuel Cells Market, Market Share Analysis for Manufacturers of Fuel Cell Buses (%) 2009 ...................................................................................................................... 31 Table 14: Global Fuel Cells Market, Market Share Analysis for Fuel Cell Manufacturers for Buses (%) 2009 ...................................................................................................................... 32 Table 15: Global Fuel Cell Market, Market Share Analysis for Fuel Cells in Power Range Less Than 1 kW (%), 2009 ................................................................................................... 33 Table 16: Global Fuel Cell Market, Market Share Analysis for Fuel Cells in Power Range 1kW- 5kW (%) 2009 .............................................................................................................. 34 Table 17: Global Fuel Cell Market, Market Share Analysis for Fuel Cells in Power Range 5kW- 250kW (%) 2009 .......................................................................................................... 35 Table 18: Global Fuel Cell Market, Market Share Analysis for Fuel Cells in Power Range 250 kW- 1 MW (%) 2009 ............................................................................................................ 36 Table 19: Global Fuel Cell Market, Market Share Analysis for Fuel Cells in Power Range Greater Than 1MW (%) 2009 .................................................................................................... 37 Table 20: The US Fuel Cell Market, Manufacturers share (%) 2009............................................ 38 Table 21: The US Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – MCFC (%) 2009 ..................................................................................................................................... 39 Table 22: The US Fuel Cell Market, Manufacturers Share by Fuel Cell Type – PAFC (%) 2009. 40 Table 23: The US Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – PEM (%) 2009 41 Table 24: The US Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – SOFC (%) 2009 ..................................................................................................................................... 42 Table 25: The UK Fuel Cell Market, Manufacturers’ Shares (%) 2009......................................... 43 Table 26: The UK Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – PEM (%) 2009 44 Table 27: Japan Fuel Cell Market, Manufacturers’ Shares (%) 2009 ........................................... 45 Table 28: Japan Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – PEM (%) 2009 .. 46 Table 29: Japan Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – PAFC (%) 2009. 47 Table 30: Germany Fuel Cell Market, Manufacturers’ Shares (%) 2009 ...................................... 48 Table 31: Germany Fuel Cell Market, Manufacturers Share by Fuel Cell Type – PEM (%) 2009 49 Table 32: Global Fuel Cells Market, Financing or Equity Investment (Million $) 2002-2009 ........ 50 Table 33: Global Fuel Cells Market, Top 10 Financing or Equity Investments, 2002-2009 .......... 51 Table 34: The US Fuel Cells Market, Fuel Cell Stimulus Plan (Million $)..................................... 52 Table 35: The US Fuel Cells Market, State Level Fuel Cell Market Transformation Projects ...... 53 Table 36: The US Fuel Cells Market, Annual Installations (Number of Units Installed) 1980s-2009 ..................................................................................................................................... 54 Table 37: The US Fuel Cells Market, Cumulative Installations (Number of Units Installed) 1980s- 2009 ............................................................................................................................. 55 Table 38: The US Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009 ........ 56 Table 39: The UK Fuel Cells Market, Cumulative Installations (Number of Units Installed) 2002- 2009 ............................................................................................................................. 57 Table 40: The UK Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009 ........ 58 Table 41: Germany Fuel Cells Market, Annual Installations (Number of Units Installed) 1990s- 2009 ............................................................................................................................. 61 The Global Fuel Cells Market: Key Trends and Growth GMDAE0006MR /Published JAN 2010 Opportunities up to 2015 Page 5 © GBI Research. This is a licensed product and is not to be photocopied
  6. 6. Table 42: Germany Fuel Cells Market, Cumulative Installations (Number of Units Installed) 1980s-2009 .................................................................................................................. 62 Table 43: Germany Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009...... 63 Table 44: Japan Fuel Cells Market, Cumulative Installations (Number of Units Installed) 1980s- 2009 ............................................................................................................................. 65 Table 45: Japan Fuel Cells Market, Cumulative Installations (Number of Units Installed) 2002- 2009 ............................................................................................................................. 65 Table 46: Japan Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009........... 66 Table 47: UTC Power, Key Facts................................................................................................. 68 Table 48: Plug Power Inc., Key Facts .......................................................................................... 69 Table 49: Plug Power Inc., Other Locations................................................................................. 70 Table 50: Plug Power Inc., Subsidiaries....................................................................................... 70 Table 51: Ballard Power Systems Inc., Key Facts........................................................................ 71 Table 52: Ballard Power Systems Inc., Other Locations .............................................................. 72 Table 53: Ballard Power Systems Inc., Subsidiaries .................................................................... 72 Table 54: FuelCell Energy, Inc., Key Facts .................................................................................. 73 Table 55: FuelCell Energy, Inc., Other Locations......................................................................... 74 Table 56: ReliOn, Inc., Key Facts................................................................................................. 75 Table 57: ReliOn, Inc., Other Locations ....................................................................................... 75 Table 58: Abbreviations ( in alphabetical order ) .......................................................................... 76 The Global Fuel Cells Market: Key Trends and Growth GMDAE0006MR /Published JAN 2010 Opportunities up to 2015 Page 6 © GBI Research. This is a licensed product and is not to be photocopied
  7. 7. 1.2 List of Figures Figure 1: Global Fuel Cell Market, Electricity Generation Process ................................................ 9 Figure 2: Global Stationary Fuel Cells Market, Distribution Channel, 2009................................. 14 Figure 3: Global Stationary Fuel Cells Market, Purchase Criteria, 2009 ..................................... 15 Figure 4: Global Fuel Cells Market, Annual Installations (Number of Units Installed) 1980s-2009 ..................................................................................................................................... 16 Figure 5: Global Fuel Cells Market, Cumulative Installations (Number of Units Installed) 2001- 2009 ............................................................................................................................. 17 Figure 6: Global Fuel Cells Market, Growth in Number of Fuel Cell Units Installed, 2015F ........ 18 Figure 7: Global Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009 .......... 18 Figure 8: Global Stationary Fuel Cells Market, Cumulative Installed Capacity Split by End-user Segments (%) 2008 ..................................................................................................... 19 Figure 9: Global Stationary Fuel Cells Market, Cumulative Installed Capacity Split by End-user Application (%) 2008 .................................................................................................... 20 Figure 10: Global Stationary Fuel Cells Market, Cumulative Installed Capacity Split by Fuel Type (%) 1980s-2008............................................................................................................ 21 Figure 11: Global Fuel Cells Market, Production Value and Revenues (Million $) 2007-2008 ..... 22 Figure 12: Global Stationary Fuel Cells Market, Push-Pull Forces, 2009...................................... 25 Figure 13: Global Fuel Cells Market, Manufacturers Share by Number of Units Installed (%) 2009 ..................................................................................................................................... 26 Figure 14: Global Fuel Cells Market, Share by Fuel Cell Type (%) 2009 ...................................... 27 Figure 15: Global Fuel Cells Market, Market Share Analysis for Manufacturers of Fuel Cell Light Duty Vehicles (%) 2009................................................................................................ 29 Figure 16: Global Fuel Cells Market, Market Share Analysis for Fuel Cell Manufacturers for Light Duty Vehicles (%) 2009................................................................................................ 30 Figure 17: Global Fuel Cells Market, Market Share Analysis for Manufacturers of Fuel Cell Buses (%) 2009 ...................................................................................................................... 31 Figure 18: Global Fuel Cells Market, Market Share Analysis for Fuel Cell Manufacturers for Buses (%) 2009 ...................................................................................................................... 32 Figure 19: Global Fuel Cell Market, Market Share Analysis for Fuel Cells in Power Range Less Than 1 kW (%) 2009 .................................................................................................... 33 Figure 20: Global Fuel Cell Market, Market Share Analysis for Fuel Cells in Power Range 1kW- 5kW (%) 2009 .............................................................................................................. 34 Figure 21: Global Fuel Cell Market, Market Share Analysis for Fuel Cells in Power Range 5 kW- 250 kW (%) 2009 ......................................................................................................... 35 Figure 22: Global Fuel Cell Market, Market Share Analysis for Fuel Cells in Power Range 250 kW- 1 MW (%) 2009 ............................................................................................................ 36 Figure 23: Global Fuel Cell Market, Market Share Analysis for Fuel Cells in Power Range Greater Than 1 MW (%) 2009 ................................................................................................... 37 Figure 24: The US Fuel Cell Market, Manufacturers’ Shares (%) 2009......................................... 38 Figure 25: The US Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – MCFC (%) 2009 ..................................................................................................................................... 39 Figure 26: The US Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – PAFC (%) 2009 ..................................................................................................................................... 40 Figure 27: The US Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – PEM (%) 2009 41 Figure 28: The US Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – SOFC (%) 2009 ..................................................................................................................................... 42 Figure 29: The UK Fuel Cell Market, Manufacturers’ Shares (%) 2009......................................... 43 Figure 30: The UK Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – PEM (%) 2009 44 Figure 31: Japan Fuel Cell Market, Manufacturers’ Shares (%) 2009 ........................................... 45 Figure 32: Japan Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – PEM (%) 2009 .. 46 Figure 33: Japan Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – PAFC (%) 2009. 47 Figure 34: Germany Fuel Cell Market, Manufacturers’ Shares (%) 2009 ...................................... 48 Figure 35: Germany Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – PEM (%) 2009 ..................................................................................................................................... 49 Figure 36: Global Fuel Cells Market, Financing or Equity Investment (Million $) 2002-2009 ........ 50 Figure 37: The US Fuel Cells Market, Annual Installations (Number of Units Installed) 1980s-2009 ..................................................................................................................................... 54 Figure 38: The US Fuel Cells Market, Cumulative Installations (Number of Units Installed) 1980s- 2009 ............................................................................................................................. 55 Figure 39: The US Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009 ........ 56 The Global Fuel Cells Market: Key Trends and Growth GMDAE0006MR /Published JAN 2010 Opportunities up to 2015 Page 7 © GBI Research. This is a licensed product and is not to be photocopied
  8. 8. Figure 40: The UK Fuel Cells Market, Cumulative Installations (Number of Units Installed) 2002- 2009 ............................................................................................................................. 57 Figure 41: The UK Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009 ........ 58 Figure 42: Germany Fuel Cells Market, National Innovation Program .......................................... 59 Figure 43: Germany Fuel Cells Market, The H2 Mobility Scheme, 2009....................................... 60 Figure 44: Germany Fuel Cells Market, Annual Installations (Number of Units Installed) 1990s- 2009 ............................................................................................................................. 60 Figure 45: Germany Fuel Cells Market, Cumulative Installations (Number of Units Installed) 1980s-2009 .................................................................................................................. 62 Figure 46: Germany Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009...... 63 Figure 47: Japan Fuel Cells Market, Cumulative Installations (Number of Units Installed) 1980s- 2009 ............................................................................................................................. 64 Figure 48: Japan Fuel Cells Market, Cumulative Installations (Number of Units Installed) 2002- 2009 ............................................................................................................................. 65 Figure 49: Japan Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009............ 66 Figure 50: Germany Fuel Cells Market, The H2 Mobility Scheme, 2009........................................ 67 Figure 51: GBI Research Methodology .......................................................................................... 77 The Global Fuel Cells Market: Key Trends and Growth GMDAE0006MR /Published JAN 2010 Opportunities up to 2015 Page 8 © GBI Research. This is a licensed product and is not to be photocopied
  9. 9. Figure 3: Global Stationary Fuel Cells Market, Purchase Criteria, 2009 Efficiency Branding Stationary Pricing Fuel Cells Value-added Distribution Source: GBI Research 2.2.4 Fuel Cell Installations The number of installations has gone up Fuel cell installations have grown at a high pace since the 1980s when they were first installed. The from seven units in the number of installations has gone up from seven units in the 1980s to over XXXX units by 2009. 1980s to over 2,500 units Annual fuel cell installations gathered pace in the 2000s with the highest number of fuel cells being by 2009 installed in 2005 (XXX units) due to high investments during that period coupled with the initiation of clean development mechanisms by various countries across the globe. This growth in the The Global Fuel Cells Market: Key Trends and Growth GMDAE0006MR /Published JAN 2010 Opportunities up to 2015 Page 15 © GBI Research. This is a licensed product and is not to be photocopied
  10. 10. Figure 6: Global Fuel Cells Market, Growth in Number of Fuel Cell Units Installed, 2015F Number of Fuel Cells Installed to Rise Rapidly 2015F Hundreds of Thousands 2009E Units Installed Per Year >2,500 Source: GBI Research PEM fuel cells dominate 2.2.4.3 Installations by Cell Type the total fuel cell installations in the global PEM fuel cells dominate the total fuel cell installations in the global market with a share of market with a share of XXX%, followed by SOFC (XXX %) and PAFC (XXX %) Figure 7: Global Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009 DMFC AFC MCFC Other PAFC PEM SOFC Source: GBI Research Table 3: Global Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009 Cell Type Share (%) PEM SOFC PAFC MCFC DMFC AFC Other Source: GBI Research The Global Fuel Cells Market: Key Trends and Growth GMDAE0006MR /Published JAN 2010 Opportunities up to 2015 Page 18 © GBI Research. This is a licensed product and is not to be photocopied
  11. 11. 3.3 Market Share Analysis in Transportation Sector The fuel cell market for application in light duty 3.3.1 Market Share Analysis, Light Duty Vehicles vehicles (small vehicles such as cars) is extremely The fuel cell market for application in light duty vehicles (small vehicles such as cars) is extremely fragmented with the fragmented with the largest manufacturer of fuel cell vehicle, Daimler, having a market share of largest manufacturer of XXX% and XXX% of market belonging to various manufacturers. The majority of light duty vehicles fuel cell vehicle, Daimler, use PEM fuel cells. having a market share of Figure 15: Global Fuel Cells Market, Market Share Analysis for Manufacturers of Fuel Cell XX% and XX% of market Light Duty Vehicles (%) 2009 belonging to various manufacturers. Daimler Others General Motors Honda Toyota Ford Motor Volkswagen Company Source: GBI Research Table 11: Global Fuel Cells Market, Market Share Analysis for Manufacturers of Fuel Cell Light Duty Vehicles (%) 2009 Auto Manufacturer Share (%) Daimler General Motors Honda Toyota Volkswagen Ford Motor Company Hyundai Suzuki Nissan PSA Peugeot Citroen Shanghai Automotive Industry Corp. Others Source: GBI Research Ballard, a manufacturer of PEM fuel cells, holds the largest market for fuel cells for light duty vehicles. The company accounts for XX% of the total fuel cells manufactured for this segment of the market. Ballard is followed by General Motors with a share of XX% and Toyota with a share of XX%. The Global Fuel Cells Market: Key Trends and Growth GMDAE0006MR /Published JAN 2010 Opportunities up to 2015 Page 29 © GBI Research. This is a licensed product and is not to be photocopied
  12. 12. 11 Appendix 11.1 Abbreviations Table 58: Abbreviations ( in alphabetical order ) Acronyms Expanded Form °C Degree Celsius °F Degrees Fahrenheit AFC Alkaline Fuel Cells AMT Alternative Minimum Tax APU Auxiliary Power Units CHP Combined Heat and Power CO2 Carbon Dioxide DMFC Direct Methanol Fuel Cell DoD Department of Defense DoE Department of Energy ITC Invest Tax Credit JHFC Japan Fuel Hydrogen & Fuel Cell Demonstration Project kW Kilo Watt LPG Liquefied Petroleum Gas MCFC Molten Carbonate Fuel Cell MFC Microbial Fuel Cell MRFC Mixed Reactant Fuel Cell MW Mega Watt NASA National Aeronautics and Space Administration NETL National Energy Technology Laboratory NIP National Hydrogen and Fuel Cell Technology Innovation Program PAFC Phosphoric Acid Fuel Cell PCFC Protonic Ceramic Fuel Cell PEM Proton Exchange Membrane Fuel Cell R&D Research and Development RFC Regenerative Fuel Cell SOFC Solid Oxide Fuel Cell UPS Uninterrupted Power Supply UTC United Technologies Corporation W Watt ZAFC Zinc Air Fuel Cell Source: GBI Research The Global Fuel Cells Market: Key Trends and Growth GMDAE0006MR /Published JAN 2010 Opportunities up to 2015 Page 76 © GBI Research. This is a licensed product and is not to be photocopied
  13. 13. 11.2 Methodology GBI Research dedicated Research and Analysis Teams consists of experienced professionals with a pedigree in marketing, market research, consulting background in the energy industry and advanced statistical expertise. GBI Research adheres to the Codes of Practice of the Market Research Society (www.mrs.org.uk) and the Society of Competitive Intelligence Professionals (www.scip.org). All GBI Research databases are continuously updated and revised. The following research methodology is followed for all databases and reports Figure 51: GBI Research Methodology Source: GBI Research 11.2.1 Coverage  The objective of updating GBI Research coverage is to ensure that it represents the most up to date vision of the industry possible.  Changes the industry taxonomy are built on the basis of extensive research of company, association and competitor sources.  Company coverage is based on three key factors: market capitalization, revenues and media attention/innovation/ market potential. a) An exhaustive search of 56 member exchanges is conducted and companies are prioritized on the basis of their market capitalization. b) The estimated revenues of all major companies, including private and governmental, are gathered and used to prioritize coverage. c) Companies which are making the news, or which are of particular interest due to their innovative approach are prioritized.  GBI Research aims to cover all major news events and deals in the alternative energy industry, updated on a daily basis.  The coverage is further streamlined and strengthened with additional inputs from GBI Research Expert Panel (see below). The Global Fuel Cells Market: Key Trends and Growth GMDAE0006MR /Published JAN 2010 Opportunities up to 2015 Page 77 © GBI Research. This is a licensed product and is not to be photocopied
  14. 14. 11.2.2 Secondary Research  The research process begins with exhaustive secondary research on internal and external sources being carried out to source qualitative and quantitative information relating to each market.  The secondary research sources that are typically referred to include, but are not limited to a) Company websites, annual reports, financial reports, broker reports, investor presentations and SEC Filings b) Industry trade journals and other literature  Internal and external proprietary databases  National government documents, statistical databases and market reports  News articles, press releases 11.2.3 Primary Research  GBI Research conducts hundreds of primary interviews a year with industry participants and commentators in order to validate its data and analysis. A typical research interview fulfills the following functions: a) It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc b) Helps in validating and strengthening the secondary research findings c) Further develops the Analyses 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.  The participants who typically take part in such a process include, but are not limited to: a) Industry participants: CEOs, VPs, business development managers, market intelligence managers and national sales managers b) Outside experts: Investment Bankers, Valuation Experts, Research Analysts and key opinion leaders specializing in alternative energy industry 11.2.4 Expert Panel Validation GBI Research uses a panel of experts to cross verify research and forecast methodologies, and drive its analytical content. The GBI Research expert panel comprises of marketing managers, product specialists, international sales managers from alternative energy companies; academics from research universities and consultants from professional services companies. Details of the make up of the expert panel can be viewed through website, and are available to clients on request. 11.3 Contact Us If you have any queries about this report or would like further information, please contact  North America: +1 646 395 5460  Europe: +44 207 753 4298 (OR) +44 161 227 0669  Asia Pacific: +91 40 6616 6700  Email: info@gbiresearch.com 11.4 Disclaimer All Rights Reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher, GBI Research. The Global Fuel Cells Market: Key Trends and Growth GMDAE0006MR /Published JAN 2010 Opportunities up to 2015 Page 78 © GBI Research. This is a licensed product and is not to be photocopied
  15. 15. The facts of this report are believed to be correct at the time of publication but cannot be guaranteed. Please note that the findings, conclusions and recommendations that GBI Research delivers will be based on information gathered in good faith from both primary and secondary sources, whose accuracy we are not always in a position to guarantee. As such GBI Research can accept no liability whatever for actions taken based on any information that may subsequently prove to be incorrect. The Global Fuel Cells Market: Key Trends and Growth GMDAE0006MR /Published JAN 2010 Opportunities up to 2015 Page 79 © GBI Research. This is a licensed product and is not to be photocopied

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