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World Fuel Cells

Industry forecasts for 2013 & 2018

Publication Date May 2009
Publisher Freedonia Group
Product Type Report
Pages 419
ISBN Number not applicable
Product Code FED00113

Summary

World commercial fuel cell demand to triple by 2013
The world commercial market for fuel cells -- including revenues associated with prototyping and test marketing activities, as well as actual product sales -- will more than triple to $1.9 billion in 2013 and then almost triple again to $5.1 billion in 2018. Market gains will be stimulated by ongoing technological advances, helping drive costs down to competitive levels in a growing number of applications, and supported by improved economies of scale as fuel cell manufacturers ramp up production. In industrialized areas such as the US and Western Europe, efforts to reduce dependence on imported oil and address environmental concerns will also contribute to fuel cell commercialization activity and sales growth over the coming decade. Product sales will increase substantially in China and other developing countries, but the US, Western Europe, Japan, Canada and South Korea will account for over four-fifths of all commercial demand in 2018.

Portable fuel cell systems show best growth prospects
Commercial demand for fuel cell systems, which totaled 17,800 units in 2008, will expand exponentially through 2013, when unit sales will reach 1.3 million, and then climb another sevenfold to 9.95 million units in 2018. Although market gains are projected to be strong for most applications, virtually all of this increase will be attributable to an explosion in portable fuel cell systems demand, which is expected to account for 98 percent of all unit sales in 2018.  Demand for portable electronics fuel cells will be spurred by user frustration over the shortcomings of batteries as a power
source for high-drain electronic devices, and declining product costs will help make fuel cells -- which have the potential to offer much longer run times than batteries -- an affordable source of portable power. Electric power generation fuel cells will account for less than one percent of the total number of systems sold in 2018, but they will continue to make up the largest single share of commercial fuel cell product and service demand measured in value terms. Sales of fuel cells used in electric power generation applications will  be stimulated by the comparatively low hurdles that they have to overcome to achieve cost competitiveness in this market, as well as by their much greater fuel efficiency compared to conventional power generation methods.

PEM fuel cells to strengthen dominant market position
Proton-exchange membrane (PEM) fuel cells are the most widely used, and they will strengthen their dominant market position over the coming decade. PEMs operate at relatively low temperatures (allowing them to be fabricated in multiple sizes and shapes), offer quick start-up (a major advantage in both backup power and vehicular settings) and can operate over a wide range of power outputs. As a result, more organizations are actively working to develop and market PEM systems than any other single fuel cell chemistry. However, demand for direct methanol fuel cells (DMFCs) will rise at a faster rate. DMFCs are a variant of conventional PEM technology that can extract hydrogen from methanol without the need for a reformer, making them highly suitable for powering small electronic devices where a reformer would add unwanted bulk. Sales of high-temperature solid-oxide fuel cells will also grow at an aboveaverage pace because of their ability to use multiple fuels and their high energy efficiency, which can exceed 80 percent if excess heat generated is recaptured for cogeneration purposes.

Content

INTRODUCTION                        

     I.  EXECUTIVE SUMMARY

     II.  MARKET ENVIRONMENT
        General
        World Economic Overview
          Recent Economic Performance
          Economic Outlook
          Personal Income & Expenditure Trends
        World Population Outlook
        Gross Fixed Investment & Manufacturing Trends
          World Gross Fixed Investment Outlook
          World Manufacturing Outlook
        Fuel Cell Infrastructure
          World Energy & Power Generation Outlook
           Energy Supply & Demand
           Electric Power Generation
           Distributed Power/Micropower
          World Motor Vehicle Outlook
           Motor Vehicle Production Trends
           Hybrid/Electric Vehicle Outlook
          World Electronics Sector Outlook
          Government/Institutional Trends
        Fuel Cell Cost/Pricing Dynamics
        Environmental & Regulatory Issues

    III.  TECHNOLOGY
        General
        Basic Electrical Properties
        Fuel Cell Construction & Operation
        Fuel Cell Chemistries
          Alkaline
          Molten Carbonate
          Phosphoric Acid
          Proton-Exchange Membrane
          Direct Methanol
          Solid-Oxide
          Other                            54     
        Hydrogen Fuel Sources
        Fuel Cell Materials
          Catalysts
          Electrodes, Electrolytes & Plates
          Nanotechnology
        Alternate Sources of Power
          Batteries
          Internal Combustion Engines
          Turbines & Microturbines
          Other Sources of Power

     IV.  SUPPLY & DEMAND
        General
        World Fuel Cell Markets
          Regional Demand Dynamics
           Total Fuel Cell Spending
           Commercial Fuel Cell Demand
          Demand by Product
           Systems
           Fuels
           Electronic Devices
           Other Products & Services
          Demand by Chemistry
           Proton-Exchange Membrane
           Molten Carbonate
           Phosphoric Acid
           Solid-Oxide
           Direct Methanol
           Alkaline
           Other
          Demand by Application
           Electric Power Generation
           Industrial Stationary & Motive Power
            Industrial Stationary Power
            Motive Power
           Motor Vehicles
           Other Transportation Equipment
           Portable Electronics
           Other
        World Fuel Cell Production
        International Trade Flows & Multinational Investment

     V.  NORTH AMERICA
        General
          Fuel Cell Activity & Markets
          Fuel Cell Outlook
        United States
        Canada
        Mexico

     VI.  WESTERN EUROPE
        General
          Fuel Cell Activity & Markets
          Fuel Cell Outlook
        Germany
        United Kingdom
        Italy
        France
        Spain
        Netherlands
        Other Western Europe

    VII.  ASIA/PACIFIC
        General
          Fuel Cell Activity & Markets
          Fuel Cell Outlook
        Japan
        South Korea
        China
        India
        Australia
        Other Asia/Pacific

    VIII.  OTHER REGIONS
        Latin America
        Eastern Europe
          Russia
          Other Eastern Europe
        Africa/Mideast

     IX.  INDUSTRY STRUCTURE
        General
        Industry Composition
        Market Share
          FuelCell Energy
          Teledyne Energy Systems
          UTC Power
          Ballard Power Systems
          Hydrogenics
          Siemens
          Other Companies
        Research & Product Development
        Manufacturing
        Marketing & Distribution
        Cooperative Agreements
        Financial Requirements
        Acquisitions & Divestitures
       

Company Profiles
          Acumentrics Corporation
          Altergy Systems
          Ansaldo Fuel Cells, see Finmeccanica
          Arcotronics Fuel Cells, see Morphic Technologies
          AREVA Group
          Automotive Fuel Cell, see Ballard Power Systems,
           Daimler and Ford Motor
          Axane Fuel Cell Systems, see L'Air Liquide
          Ballard Power Systems Incorporated
          Cell Impact, see Morphic Technologies
          Ceramic Fuel Cells Limited
          Ceres Power Holdings plc
          CFC Solutions, see Tognum
          Daimler AG
          Exergy Fuel Cells, see Morphic Technologies
          Finmeccanica SpA
          Ford Motor Company
          FuelCell Energy Incorporated
          General Hydrogen, see Plug Power
          General Motors Corporation
          Helbio, see Morphic Technologies
          Helion, see AREVA Group
          Honda Motor Company Limited
          Horizon Fuel Cell Technologies Pte Limited
          Hydrogenics Corporation
          Hyundai Motor Company
          IdaTech LLC
          IHI Corporation
          Intelligent Energy Limited
          Ishikawajima-Harima Heavy Industries, see IHI
          Jadoo Power Systems Incorporated
          L'Air Liquide SA
          Matsushita Electric Industrial, see Panasonic
          Mechanical Technology Incorporated
          Mitsubishi Heavy Industries Limited
          Morphic Technologies AB
          MTI MicroFuel Cells, see Mechanical Technology
          MTU Onsite Energy, see Tognum
          Nippon Oil Corporation
          Nuvera Fuel Cells Incorporated
          Panasonic Corporation
          Plug Power Incorporated
          Proton Motor Fuel Cell, see Proton Power Systems
          Proton Power Systems plc
          Protonex Technology Corporation
          Quantum Fuel Systems Technologies Worldwide
           Incorporated
          ReliOn Incorporated
          SFC Smart Fuel Cell AG
          Siemens AG
          Sunrise Power Company Limited
          Teledyne Technologies Incorporated
          Tognum AG
          Toshiba Corporation
          Toyota Motor Corporation
          United Technologies Corporation
          UTC Power, see United Technologies
        Other Companies Mentioned in Study

LIST OF TABLES
                   
TABLE NUMBER                                 PAGE

        SECTION I - EXECUTIVE SUMMARY
        Summary Table

        SECTION II - MARKET ENVIRONMENT
      1  World Gross Domestic Product by Region
      2  World Per Capita GDP by Region
      3  World Population by Region
      4  World Gross Fixed Investment by Region
      5  World Manufacturing Value Added by Region
      6  World Energy Production by Type
      7  World Electric Power Generation by Region
      8  World Motor Vehicle Production by Region
      9  World Hybrid/Electric Light Vehicle Demand by Region
     10  World Electronic Product Shipments by Region
     11  World Fuel Cell System Costs

        SECTION III - TECHNOLOGY
      1  World Battery Demand by Region
      2  World Internal Combustion Engine Demand by Region
      3  World Turbine Demand by Region

        SECTION IV - SUPPLY & DEMAND
      1  Total World Fuel Cell Spending by Type & Region
      2  World Commercial Fuel Cell Demand by Region
      3  Total World Commercial Fuel Cell Demand by Product
      4  World Commercial Fuel Cell Demand by Chemistry
      5  World Commercial Proton-Exchange Membrane Fuel Cell
          Demand by Application & Region
      6  World Commercial Molten Carbonate Fuel Cell Demand
          by Application & Region
      7  World Commercial Phosphoric Acid Fuel Cell Demand by
          Application & Region
      8  World Commercial Solid-Oxide Fuel Cell Demand by
          Application & Region
      9  World Commercial Direct Methanol Fuel Cell Demand by
          Application & Region
     10  World Commercial Alkaline Fuel Cell Demand by
          Application & Region
     11  World Commercial Demand for Other Fuel Cell Types
          by Application & Region
     12  World Commercial Fuel Cell Demand by Application
     13  World Commercial Fuel Cell Systems Demand
          by Application
     14  World Commercial Electric Power Generation Fuel Cell
          Demand by Chemistry, Region & Product
     15  World Commercial Industrial Stationary & Motive Power
          Fuel Cell Demand by Application, Chemistry, Region
          & Product
     16  World Commercial Motor Vehicle Fuel Cell Demand
          by Chemistry, Region & Product
     17  World Commercial Demand for Fuel Cells Used in Other
          Transportation Applications by Chemistry, Region
          & Product
     18  World Commercial Portable Electronics Fuel Cell
          Demand by Chemistry, Region & Product
     19  World Commercial Demand for Fuel Cells Used in Other
          Applications by Chemistry, Region & Product
     20  Selected International Fuel Cell Programs

        SECTION V - NORTH AMERICA
      1  North America - Economic & Market Environment
      2  North America - Commercial Fuel Cell Demand
      3  United States - Economic & Market Environment
      4  United States - Commercial Fuel Cell Demand
      5  Canada - Economic & Market Environment
      6  Canada - Commercial Fuel Cell Demand
      7  Mexico - Economic & Market Environment
      8  Mexico - Commercial Fuel Cell Demand

        SECTION VI - WESTERN EUROPE
      1  Western Europe - Economic & Market Environment
      2  Western Europe - Commercial Fuel Cell Demand
      3  Germany - Economic & Market Environment
      4  Germany - Commercial Fuel Cell Demand
      5  United Kingdom - Economic & Market Environment
      6  United Kingdom - Commercial Fuel Cell Demand
      7  Italy - Economic & Market Environment
      8  Italy - Commercial Fuel Cell Demand
      9  France - Economic & Market Environment
     10  France - Commercial Fuel Cell Demand
     11  Spain - Economic & Market Environment
     12  Spain - Commercial Fuel Cell Demand
     13  Netherlands - Economic & Market Environment
     14  Netherlands - Commercial Fuel Cell Demand
     15  Other Western Europe - Economic & Market Environment
     16  Other Western Europe - Commercial Fuel Cell Demand

        SECTION VII - ASIA/PACIFIC
      1  Asia/Pacific - Economic & Market Environment
      2  Asia/Pacific - Commercial Fuel Cell Demand
      3  Japan - Economic & Market Environment
      4  Japan - Commercial Fuel Cell Demand
      5  South Korea - Economic & Market Environment
      6  South Korea - Commercial Fuel Cell Demand
      7  China - Economic & Market Environment
      8  China - Commercial Fuel Cell Demand
      9  India - Economic & Market Environment
     10  India - Commercial Fuel Cell Demand
     11  Australia - Economic & Market Environment
     12  Australia - Commercial Fuel Cell Demand
     13  Other Asia/Pacific - Economic & Market Environment
     14  Other Asia/Pacific - Commercial Fuel Cell Demand

        SECTION VIII - OTHER REGIONS
      1  Latin America - Economic & Market Environment
      2  Latin America - Commercial Fuel Cell Demand
      3  Eastern Europe - Economic & Market Environment
      4  Eastern Europe - Commercial Fuel Cell Demand
      5  Russia - Economic & Market Environment
      6  Russia - Commercial Fuel Cell Demand
      7  Other Eastern Europe - Economic & Market Environment
      8  Other Eastern Europe - Commercial Fuel Cell Demand
      9  Africa/Mideast - Economic & Market Environment
     10  Africa/Mideast - Commercial Fuel Cell Demand

        SECTION IX - INDUSTRY STRUCTURE
      1  Fuel Cell-Related Revenues for Selected Companies, 2008
      2  Research & Development Spending by Selected Fuel Cell
          Companies, 2006-2008
      3  Selected Cooperative Agreements
      4  Selected Acquisitions & Divestitures

            LIST OF CHARTS
                   
        SECTION II - MARKET ENVIRONMENT
      1  World Energy Production by Type, 1998-2018
      2  World Fuel Cell System Costs, 1998-2018

        SECTION III - TECHNOLOGY
      1  Basic Fuel Cell Construction
      2  Gravimetric Energy Density of Various Power Conversion
          & Storage Systems

        SECTION IV - SUPPLY & DEMAND
      1  Relationship Between Per Capita Fuel Cell Demand &
          Per Capita GDP, 2018
      2  Total World Fuel Cell Spending by Region, 2018
      3  World Commercial Fuel Cell Demand by Region, 2018
      4  World Commercial Fuel Cell Demand by Chemistry, 2018
      5  World Commercial Fuel Cell Demand by Application, 2018
      6  World Commercial Fuel Cell Systems Demand by
          Application, 1998-2018

        SECTION V - NORTH AMERICA
      1  North America - Commercial Fuel Cell Demand by
          Country, 2018

        SECTION VI - WESTERN EUROPE
      1  Western Europe - Commercial Fuel Cell Demand by
          Country, 2018

        SECTION VII - ASIA/PACIFIC
      1  Asia/Pacific - Commercial Fuel Cell Demand by
          Country, 2018

        SECTION IX - INDUSTRY STRUCTURE
      1  World Fuel Cell Market Share by Company, 2008

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