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World Fuel Cells

World Fuel Cells

World commercial spending to more than double by 2017
World fuel cell spending -- including research and development funding, investment in fuel cell enterprises, as well as revenue derived from commercial sales -- is projected to advance nearly 10 percent per year to $11 billion in 2017 and then almost double through 2022. Commercial demand for fuel cell products and services (including revenues associated with prototyping, demonstration, and test marketing activities, as well as actual product sales) will more than double to $4 billion in 2017 and then nearly triple through 2022. The share of total fuel cell expenditures accounted for by commercial demand will climb from one-fifth in 2012 to more than half of all spending in 2022.

Portable fuel cells to be fastest growing in unit terms
Commercial sales of fuel cell systems are projected to expand from what are currently extremely modest levels to more than three million units in 2022. Demand gains are expected to be strong in most major markets, although explosive growth in sales of portable fuel cell systems will result in their accounting for four-fifths of all unit demand in 2022. Suppliers of portable electronic fuel cell systems will benefit from the advantages that these products offer over battery systems, particularly their ability to generate power over a longer period of time than comparably sized batteries. Declining costs will make fuel cells an affordable alternative source of portable power in a growing number of applications. Nevertheless, portable electronics will remain a modest-sized fuel cell market in value terms, accounting for only three percent of the 2022 dollar total, because demand will be dominated by high volume, low price products.

Motor vehicles to be second largest fuel cell market
Fuel cells used in motor vehicle applications will account for the next largest share of systems sold in 2022, over 10 percent of the total. These will include not only fuel cell-powered automobiles and buses, but also fuel cell range extenders that are being developed for use in electric vehicles. More significantly, fuel cell systems used in motor vehicle applications will account for just under half of total commercial revenue in 2022. In early 2014, Hyundai began leasing fuel cell vehicles to commercial customers, and a number of additional vehicle models are expected to become available from other major automakers by 2017. Dollar demand is projected to rise from current extremely low levels -- which at present consist mostly of revenues associated with prototyping, demonstration, and test marketing activities -- to much larger but still very modest levels in 2022 relative to overall motor vehicle sales.

Electric power generation uses to continue brisk pace
Electric power generation has experienced the most extensive commercialization activity of any fuel cell application to date. In 2012, electric power generation accounted for roughly three-fourths of all commercial revenue and more than half of the total number of units sold, with strong growth in both large-scale megawatt applications and small residential micro combined heat and power units recorded between 2007 and 2012. Electric power generation-related fuel cell sales will continue to grow at a brisk pace through 2022, bolstered by comparatively low hurdles to overcome to achieve cost competitiveness and much greater fuel efficiency than conventional power generation methods.


  • INTRODUCTION
  • EXECUTIVE SUMMARY
    • Table WORLD COMMERCIAL FUEL CELL DEMAND
  • MARKET ENVIRONMENT
    • General
    • World Economic Overview
      • Recent Historical Trends
      • World Economic Outlook
        • Table WORLD GROSS DOMESTIC PRODUCT BY REGION
      • Personal Income & Expenditure Trends
        • Table WORLD PER CAPITA GROSS DOMESTIC PRODUCT BY REGION
    • World Population Outlook
      • Table WORLD POPULATION BY REGION
    • Gross Fixed Investment & Manufacturing Trends
      • World Gross Fixed Investment Outlook
        • Table WORLD GROSS FIXED INVESTMENT BY REGION
      • World Manufacturing Outlook
        • Table WORLD MANUFACTURING VALUE ADDED BY REGION
    • Fuel Cell Infrastructure
      • World Energy & Power Generation Outlook
        • Table WORLD ENERGY PRODUCTION BY FUEL
        • Table CHART II-1 WORLD ENERGY PRODUCTION BY FUEL, 2002-2022
        • Table WORLD ELECTRIC POWER GENERATION BY REGION
      • World Motor Vehicle Outlook
        • Table WORLD MOTOR VEHICLE PRODUCTION BY TYPE & REGION
        • Table WORLD HYBRID & ELECTRIC LIGHT VEHICLE PRODUCTION BY TYPE & REGION
      • World Electronics Sector Outlook
        • Table WORLD ELECTRONIC PRODUCT SHIPMENTS BY REGION
      • Government/Institutional Trends
    • Fuel Cell Cost/Pricing Dynamics
      • Table WORLD FUEL CELL SYSTEM COSTS
      • Table CHART II-2 WORLD FUEL CELL SYSTEM COSTS, 2002-2022
    • Environmental & Regulatory Issues
  • TECHNOLOGY
    • General
    • Basic Electrical Properties
    • Fuel Cell Construction & Operation
      • Table CHART III-1 BASIC FUEL CELL CONSTRUCTION
    • Fuel Cell Efficiency
    • Fuel Cell Chemistries
      • Alkaline
      • Molten Carbonate
      • Phosphoric Acid
      • Proton Exchange Membrane
      • Direct Methanol
      • Solid Oxide
      • Other Chemistries
    • Hydrogen Fuel Sources
    • Fuel Cell Materials
      • Catalysts
      • Electrodes, Electrolytes, & Plates
      • Nanotechnology
    • Alternate Sources of Power
      • Table CHART III-2 GRAVIMETRIC ENERGY DENSITY OF VARIOUS POWER CONVERSION & STORAGE SYSTEMS
      • Batteries
        • Table WORLD BATTERY DEMAND BY REGION
      • Internal Combustion Engines
        • Table WORLD INTERNAL COMBUSTION ENGINE DEMAND BY REGION
      • Turbines & Microturbines
        • Table WORLD ELECTRIC POWER GENERATION TURBINE DEMAND BY REGION
      • Other Sources of Power
  • WORLD SUPPLY & DEMAND
    • General
    • World Fuel Cell Markets
    • Regional Demand Dynamics
      • Table CHART IV-1 RELATIONSHIP BETWEEN PER CAPITA FUEL CELL DEMAND & PER CAPITA GDP, 2022
      • Total Fuel Cell Spending
        • Table TOTAL WORLD FUEL CELL SPENDING BY TYPE & REGION
        • Table CHART IV-2 TOTAL WORLD FUEL CELL SPENDING BY REGION, 2022
      • Commercial Fuel Cell Demand
        • Table WORLD COMMERCIAL FUEL CELL DEMAND BY REGION
        • Table CHART IV-3 WORLD COMMERCIAL FUEL CELL DEMAND BY REGION, 2022
    • Demand by Product
      • Table WORLD COMMERCIAL FUEL CELL DEMAND BY PRODUCT
      • Systems
      • Fuels
      • Electronic Devices
      • Other Products & Services
    • Demand by Chemistry
      • Table WORLD COMMERCIAL FUEL CELL DEMAND BY CHEMISTRY
      • Table CHART IV-4 WORLD COMMERCIAL FUEL CELL DEMAND BY CHEMISTRY, 2022
      • Proton Exchange Membrane
        • Table WORLD COMMERCIAL PROTON EXCHANGE MEMBRANE FUEL CELL DEMAND BY APPLICATION & REGION
      • Solid Oxide
        • Table WORLD COMMERCIAL SOLID OXIDE FUEL CELL DEMAND BY APPLICATION & REGION
      • Molten Carbonate
        • Table WORLD COMMERCIAL MOLTEN CARBONATE FUEL CELL DEMAND BY APPLICATION & REGION
      • Phosphoric Acid
        • Table WORLD COMMERCIAL PHOSPHORIC ACID FUEL CELL DEMAND BY APPLICATION & REGION
      • Direct Methanol
        • Table WORLD COMMERCIAL DIRECT METHANOL FUEL CELL DEMAND BY APPLICATION & REGION
      • Alkaline
        • Table WORLD COMMERCIAL ALKALINE FUEL CELL DEMAND BY APPLICATION & REGION
      • Other Chemistries
        • Table WORLD COMMERCIAL DEMAND FOR OTHER FUEL CELL TYPES BY APPLICATION & REGION
    • Demand by Application
      • Application Demand Measured by Revenues
        • Table WORLD COMMERCIAL FUEL CELL DEMAND BY APPLICATION
        • Table CHART IV-5 WORLD COMMERCIAL FUEL CELL DEMAND BY APPLICATION, 2022
      • Application Demand Measured in Units
        • Table WORLD COMMERCIAL FUEL CELL SYSTEMS DEMAND BY APPLICATION
        • Table CHART IV-6 WORLD COMMERCIAL FUEL CELL SYSTEMS DEMAND BY APPLICATION, 2002-2022
      • Electric Power Generation
        • Table WORLD COMMERCIAL ELECTRIC POWER GENERATION FUEL CELL DEMAND BY APPLICATION, CHEMISTRY, & PRODUCT
        • Table WORLD COMMERCIAL ELECTRIC POWER GENERATION FUEL CELL DEMAND BY REGION
      • Industrial Stationary & Motive Power
        • Table WORLD COMMERCIAL INDUSTRIAL STATIONARY & MOTIVE POWER FUEL CELL DEMAND BY APPLICATION, CHEMISTRY, & PRODUCT
        • Table WORLD COMMERCIAL INDUSTRIAL STATIONARY & MOTIVE POWER FUEL CELL DEMAND BY REGION
      • Motor Vehicles
        • Table WORLD COMMERCIAL MOTOR VEHICLE FUEL CELL DEMAND BY CHEMISTRY & PRODUCT
        • Table WORLD COMMERCIAL MOTOR VEHICLE FUEL CELL DEMAND BY REGION
      • Other Transportation Equipment
        • Table WORLD DEMAND FOR FUEL CELLS USED IN OTHER TRANSPORTATION EQUIPMENT BY APPLICATION, CHEMISTRY, & PRODUCT
        • Table WORLD DEMAND FOR FUEL CELLS USED IN OTHER TRANSPORTATION EQUIPMENT BY REGION
      • Portable Electronics
        • Table WORLD COMMERCIAL PORTABLE ELECTRONICS FUEL CELL DEMAND BY CHEMISTRY & PRODUCT
        • Table WORLD COMMERCIAL PORTABLE ELECTRONICS FUEL CELL DEMAND BY REGION
      • Other Applications
        • Table WORLD COMMERCIAL DEMAND FOR FUEL CELLS USED IN OTHER APPLICATIONS BY CHEMISTRY & PRODUCT
        • Table WORLD COMMERCIAL DEMAND FOR FUEL CELLS USED IN OTHER APPLICATIONS BY REGION
    • World Fuel Cell Production
      • Table SELECTED INTERNATIONAL FUEL CELL PROGRAMS
    • International Trade Flows & Multinational Investment
  • NORTH AMERICA
    • North America: General
    • North America: Fuel Cell Activity & Markets
      • Table NORTH AMERICA: MARKET ENVIRONMENT FOR FUEL CELLS
    • North America: Fuel Cell Outlook & Suppliers
      • Table NORTH AMERICA: COMMERCIAL FUEL CELL DEMAND
      • Table CHART V-1 NORTH AMERICA: COMMERCIAL FUEL CELL DEMAND BY COUNTRY, 2022
    • United States
      • United States: General
      • United States: Fuel Cell Activity & Markets
        • Table UNITED STATES: MARKET ENVIRONMENT FOR FUEL CELLS
      • United States: Fuel Cell Outlook & Suppliers
        • Table UNITED STATES: COMMERCIAL FUEL CELL DEMAND
    • Canada
      • Canada: General
      • Canada: Fuel Cell Activity & Markets
        • Table CANADA: MARKET ENVIRONMENT FOR FUEL CELLS
      • Canada: Fuel Cell Outlook & Suppliers
        • Table CANADA: COMMERCIAL FUEL CELL DEMAND
    • Mexico
      • Mexico: General
      • Mexico: Fuel Cell Activity & Markets
        • Table MEXICO: MARKET ENVIRONMENT FOR FUEL CELLS
      • Mexico: Fuel Cell Outlook & Suppliers
        • Table MEXICO: COMMERCIAL FUEL CELL DEMAND
  • WESTERN EUROPE
    • Western Europe: General
    • Western Europe: Fuel Cell Activity & Markets
      • Table WESTERN EUROPE: MARKET ENVIRONMENT FOR FUEL CELLS
    • Western Europe: Fuel Cell Outlook & Suppliers
      • Table WESTERN EUROPE: COMMERCIAL FUEL CELL DEMAND
      • Table CHART VI-1 WESTERN EUROPE: COMMERCIAL FUEL CELL DEMAND BY COUNTRY, 2022
    • Germany
      • Germany: General
      • Germany: Fuel Cell Activity & Markets
        • Table GERMANY: MARKET ENVIRONMENT FOR FUEL CELLS
      • Germany: Fuel Cell Outlook & Suppliers
        • Table GERMANY: COMMERCIAL FUEL CELL DEMAND
    • United Kingdom
      • United Kingdom: General
      • United Kingdom: Fuel Cell Activity & Markets
        • Table UNITED KINGDOM: MARKET ENVIRONMENT FOR FUEL CELLS
      • United Kingdom: Fuel Cell Outlook & Suppliers
        • Table UNITED KINGDOM: COMMERCIAL FUEL CELL DEMAND
    • Spain
      • Spain: General
      • Spain: Fuel Cell Activity & Markets
        • Table SPAIN: MARKET ENVIRONMENT FOR FUEL CELLS
      • Spain: Fuel Cell Outlook & Suppliers
        • Table SPAIN: COMMERCIAL FUEL CELL DEMAND
    • France
      • France: General
      • France: Fuel Cell Activity & Markets
        • Table FRANCE: MARKET ENVIRONMENT FOR FUEL CELLS
      • France: Fuel Cell Outlook & Suppliers
        • Table FRANCE: COMMERCIAL FUEL CELL DEMAND
    • Italy
      • Italy: General
      • Italy: Fuel Cell Activity & Markets
        • Table ITALY: MARKET ENVIRONMENT FOR FUEL CELLS
      • Italy: Fuel Cell Outlook & Suppliers
        • Table ITALY: COMMERCIAL FUEL CELL DEMAND
    • Netherlands
      • Netherlands: General
      • Netherlands: Fuel Cell Activity & Markets
        • Table NETHERLANDS: MARKET ENVIRONMENT FOR FUEL CELLS
      • Netherlands: Fuel Cell Outlook & Suppliers
        • Table NETHERLANDS: COMMERCIAL FUEL CELL DEMAND
    • Other Western Europe
      • Other Western Europe: General
      • Other Western Europe: Fuel Cell Activity & Markets
        • Table OTHER WESTERN EUROPE: MARKET ENVIRONMENT FOR FUEL CELLS
      • Other Western Europe: Fuel Cell Outlook & Suppliers
        • Table OTHER WESTERN EUROPE: COMMERCIAL FUEL CELL DEMAND
  • ASIA/PACIFIC
    • Asia/Pacific: General
    • Asia/Pacific: Fuel Cell Activity & Markets
      • Table ASIA/PACIFIC: MARKET ENVIRONMENT FOR FUEL CELLS
    • Asia/Pacific: Fuel Cell Outlook & Suppliers
      • Table ASIA/PACIFIC: COMMERCIAL FUEL CELL DEMAND
      • Table CHART VII-1 ASIA/PACIFIC: COMMERCIAL FUEL CELL DEMAND BY COUNTRY, 2022
    • Japan
      • Japan: General
      • Japan: Fuel Cell Activity & Markets
        • Table JAPAN: MARKET ENVIRONMENT FOR FUEL CELLS
      • Japan: Fuel Cell Outlook & Suppliers
        • Table JAPAN: COMMERCIAL FUEL CELL DEMAND
    • South Korea
      • South Korea: General
      • South Korea: Fuel Cell Activity & Markets
        • Table SOUTH KOREA: MARKET ENVIRONMENT FOR FUEL CELLS
      • South Korea: Fuel Cell Outlook & Suppliers
        • Table SOUTH KOREA: COMMERCIAL FUEL CELL DEMAND
    • China
      • China: General
      • China: Fuel Cell Activity & Markets
        • Table CHINA: MARKET ENVIRONMENT FOR FUEL CELLS
      • China: Fuel Cell Outlook & Suppliers
        • Table CHINA: COMMERCIAL FUEL CELL DEMAND
    • India
      • India: General
      • India: Fuel Cell Activity & Markets
        • Table INDIA: MARKET ENVIRONMENT FOR FUEL CELLS
      • India: Fuel Cell Outlook & Suppliers
        • Table INDIA: COMMERCIAL FUEL CELL DEMAND
    • Taiwan
      • Taiwan: General
      • Taiwan: Fuel Cell Activity & Markets
        • Table TAIWAN: MARKET ENVIRONMENT FOR FUEL CELLS
      • Taiwan: Fuel Cell Outlook & Suppliers
        • Table TAIWAN: COMMERCIAL FUEL CELL DEMAND
    • Australia
      • Australia: General
      • Australia: Fuel Cell Activity & Markets
        • Table AUSTRALIA: MARKET ENVIRONMENT FOR FUEL CELLS
      • Australia: Fuel Cell Outlook & Suppliers
        • Table AUSTRALIA: COMMERCIAL FUEL CELL DEMAND
    • Other Asia/Pacific
      • Other Asia/Pacific: General
      • Other Asia/Pacific: Fuel Cell Activity & Markets
        • Table OTHER ASIA/PACIFIC: MARKET ENVIRONMENT FOR FUEL CELLS
      • Other Asia/Pacific: Fuel Cell Outlook & Suppliers
        • Table OTHER ASIA/PACIFIC: COMMERCIAL FUEL CELL DEMAND
  • OTHER REGIONS
    • Central & South America
      • Central & South America: General
      • Central & South America: Fuel Cell Activity & Markets
        • Table CENTRAL & SOUTH AMERICA: MARKET ENVIRONMENT FOR FUEL CELLS
      • Central & South America: Fuel Cell Outlook & Suppliers
        • Table CENTRAL & SOUTH AMERICA: COMMERCIAL FUEL CELL DEMAND
    • Eastern Europe
      • Eastern Europe: General
      • Eastern Europe: Fuel Cell Activity & Markets
        • Table EASTERN EUROPE: MARKET ENVIRONMENT FOR FUEL CELLS
      • Eastern Europe: Fuel Cell Outlook & Suppliers
        • Table EASTERN EUROPE: COMMERCIAL FUEL CELL DEMAND
      • Russia
        • Table RUSSIA: MARKET ENVIRONMENT FOR FUEL CELLS
        • Table RUSSIA: COMMERCIAL FUEL CELL DEMAND
      • Other Eastern Europe
        • Table OTHER EASTERN EUROPE: MARKET ENVIRONMENT FOR FUEL CELLS
        • Table OTHER EASTERN EUROPE: COMMERCIAL FUEL CELL DEMAND
    • Africa/Mideast
      • Africa/Mideast: General
      • Africa/Mideast: Fuel Cell Activity & Markets
        • Table AFRICA/MIDEAST: MARKET ENVIRONMENT FOR FUEL CELLS
      • Africa/Mideast: Fuel Cell Outlook & Suppliers
        • Table AFRICA/MIDEAST: COMMERCIAL FUEL CELL DEMAND
  • INDUSTRY STRUCTURE
    • General
    • Industry Composition
      • Table FUEL CELL-RELATED REVENUES FOR SELECTED COMPANIES, 2012
    • Market Share
      • Table CHART IX-1 WORLD FUEL CELL MARKET SHARE, 2012
    • Research & Product Development
      • Table RESEARCH & DEVELOPMENT SPENDING* BY SELECTED FUEL CELL COMPANIES, 2010-2012
    • Manufacturing
      • Table CAPITAL SPENDING BY SELECTED FUEL CELL COMPANIES, 2010-2012
    • Marketing & Distribution
    • Cooperative Agreements
      • Table SELECTED COOPERATIVE AGREEMENTS
    • Financial Requirements
    • Acquisitions & Divestitures
      • Table SELECTED ACQUISITIONS & DIVESTITURES
    • Company Profiles
      • Acumentrics Corporation
      • Air Liquide Group
      • Altergy Systems
      • AREVA Group
      • Ballard Power Systems Incorporated
      • Bloom Energy Corporation
      • Cellkraft AB
      • Ceramic Fuel Cells Limited
      • ClearEdge Power Incorporated
      • Daimler AG
      • Electro Power Systems SpA
      • Ford Motor Company
      • FuelCell Energy Incorporated
      • FuelCellPower Incorporated
      • General Motors Company
      • Hess Corporation
      • Honda Motor Company Limited
      • Horizon Fuel Cell Technologies Private Limited
      • Hydrogenics Corporation
      • Hyundai Motor Company
      • Intelligent Energy Holdings plc
      • IRD Fuel Cell A/S
      • Johnson Matthey plc
      • JX Holdings Incorporated
      • Lilliputian Systems Incorporated
      • myFC AB
      • Osaka Gas Company Limited
      • Panasonic Corporation
      • Plug Power Incorporated
      • Protonex Technology Corporation
      • Quantum Fuel Systems Technologies Worldwide Incorporated
      • Serenergy A/S
      • SFC Energy AG
      • Siemens AG
      • Société BIC
      • Sunrise Power Company Limited
      • Teledyne Technologies Incorporated
      • Tokyo Gas Company Limited
      • Toshiba Corporation
      • Toyota Motor Corporation
      • United Technologies Corporation
    • Other Companies Mentioned in Study

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