Global Fuel Cell Market 2016-2020

The report, now available on ASDReports, recognizes the following companies as the key players in the global fuel cell market: Ballard Power Systems, Bloom Energy, Nuvera Fuel Cells, and SFC Energy.

Other prominent vendors in the market are: ACAL, Acumentrics, Aisin, Altergy Systems, Ceramic Fuel Cells, Ceres Power, Delphi Automotive Systems, DMFCC, Doosan Fuel Cell, ElectroChem, EnergyOr Technologies, Enocell, FuelCell Energy, GE, H2 Logic, Horizon Fuel Cell Technologies, Hydrogenics, Infintium Fuel Cell Systems, Intelligent Energy, Johnson Matthey Fuel Cells, Kyocera, LG Fuel Cell Systems, Mitsubishi Heavy Industries, Neah Power Systems, Oorja Protonics, Panasonic, Plug Power, Proton Motor Fuel Cell, Redox Power Systems, Shanghai Everpower Technologies, Symbio FCell, Toshiba, and Ultra Electronics AMI.

Commenting on the report, an analyst said: “One of latest trends in the market is reduction in prices of fuel cells and FCVs. The introduction of several new techniques has reduced the price of fuel cells. In the US, several fuel cell manufacturing companies are reducing the amount of platinum used in fuel cells, leading to an up to 30% reduction in fuel cell prices since 2008. Also, rejected energy and waste heat can be captured if fuel cells are established close to their point of use. This method of generating heat and electricity from fuel cells is known as fuel cell co-generation, which can reduce energy service costs for transportation systems by 20%-40%. Higher production and achievement of economies of scale following various government grants are other reasons for reduced fuel cell prices.”

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Global Fuel Cell Market 2016-2020

According to the report, one of the primary drivers in the market is need to control emissions in transportation sector. Auto regulators worldwide have been setting targets to control their emissions as the transport sector accounts for about a quarter (23%) of global energy-related GHG emissions; these mainly involve the release of nitrogen oxides (NOx), sulfur oxide (SOx), hydrocarbons, carbon monoxide, and particle matter (PM). Various regions and countries are setting different regulations, but the overall message and targets are clear ? that the automobile industry needs to limit the amount of emissions it produces drastically.

Further, the report states that one major challenge in the market is lack of refueling infrastructure for FCVs. The adoption of fuel cells, despite their efficiency and lower emissions, are hampered by the lack of the necessary infrastructure to support their mass adoption. When compared with other alternative fueling infrastructure such as EVs or natural gas stations, fuel cell refueling infrastructure is outnumbered by a large extent. In 2015, there were more than 25,000 natural gas fueling stations and 27,000 EV charging stations worldwide, while there were less than 200 hydrogen refueling stations available for public use. With more 1.26 million electric cars on the road, EVs are making headway in the market. Improvements in battery technology are reducing the overall cost of production and improving the distance range. With these improvements, technologies tend to be an attractive option when considering the purchase of a new vehicle. Also, the fall in oil prices is bridging the economic benefits between alternate fuel vehicles and diesel vehicles, making it possible for less efficient vehicles to remain on the road for a longer period.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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Source: ASDReports - Market Research
Date: Nov 14, 2016