Table of Content

1    INTRODUCTION    26
1.1    STUDY OBJECTIVES    26
1.2    MARKET DEFINITION    27
1.3    INCLUSIONS AND EXCLUSIONS    27
1.3.1    FUEL CELL GENERATOR MARKET, BY END USER    27
1.3.2    FUEL CELL GENERATOR MARKET, BY REGION    27
1.4    MARKET SCOPE    28
1.4.1    MARKET SEGMENTATION    28
1.4.2    REGIONAL SCOPE    28
1.4.3    YEARS CONSIDERED    29
1.5    CURRENCY CONSIDERED    29
1.6    LIMITATIONS    29
1.7    STAKEHOLDERS    30
1.8    SUMMARY OF CHANGES    30
1.8.1    IMPACT OF RECESSION    31
2    RESEARCH METHODOLOGY    32
2.1    RESEARCH DATA    32
FIGURE 1    FUEL CELL GENERATOR MARKET: RESEARCH DESIGN    32
2.2    MARKET BREAKDOWN AND DATA TRIANGULATION    33
FIGURE 2    DATA TRIANGULATION METHODOLOGY    33
2.2.1    SECONDARY DATA    34
2.2.1.1    Key data from secondary sources    34
2.2.2    PRIMARY DATA    35
2.2.2.1    Key data from primary sources    35
2.2.2.2    Breakdown of primaries    36
FIGURE 3    BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION    36
2.3    MARKET SIZE ESTIMATION    37
2.3.1    SUPPLY-SIDE ANALYSIS    37
FIGURE 4    KEY METRICS CONSIDERED FOR ASSESSING SUPPLY OF FUEL CELL GENERATORS    37
FIGURE 5    FUEL CELL GENERATOR MARKET: SUPPLY-SIDE ANALYSIS    38
2.3.1.1    Supply-side calculations    38
2.3.1.2    Supply-side assumptions    38
FIGURE 6    FUEL CELL GENERATOR MARKET: MARKET SHARE ANALYSIS, 2022    39
2.3.2    DEMAND-SIDE ANALYSIS    39
2.3.2.1    Demand-side calculations    39
2.3.2.2    Demand-side assumptions    39
2.3.2.3    Demand-side limitations    40
2.3.3    MARKET FORECAST    40
2.4    IMPACT OF RECESSION    40
3    EXECUTIVE SUMMARY    41
TABLE 1    FUEL CELL GENERATOR MARKET SNAPSHOT    41
FIGURE 7    NORTH AMERICA HELD LARGEST SHARE OF FUEL CELL GENERATOR MARKET IN 2022    42
FIGURE 8    DATA CENTERS TO CAPTURE LARGEST SHARE OF FUEL CELL GENERATOR MARKET IN 2030    43
FIGURE 9    HYDROGEN TO CAPTURE LARGEST SHARE OF FUEL CELL GENERATOR MARKET, BY FUEL TYPE, IN 2030    43
FIGURE 10    SMALL-SCALE FUEL CELL GENERATORS PRODUCING UP TO 200 KW OF POWER TO CAPTURE LARGER MARKET SHARE IN 2030    44
4    PREMIUM INSIGHTS    45
4.1    ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN FUEL CELL GENERATOR MARKET    45
FIGURE 11    RISING DEMAND FOR CLEAN POWER GENERATION TO BOOST ADOPTION OF FUEL CELL GENERATORS BY ENVIRONMENTALLY CONSCIOUS INDUSTRIES    45
4.2    FUEL CELL GENERATOR MARKET, BY REGION    46
FIGURE 12    EUROPEAN FUEL CELL GENERATOR MARKET TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD    46
4.3    FUEL CELL GENERATOR MARKET, BY END USER    46
FIGURE 13    DATA CENTERS TO ACCOUNT FOR LARGEST MARKET SHARE IN 2030    46
4.4    FUEL CELL GENERATOR MARKET, BY FUEL TYPE    47
FIGURE 14    HYDROGEN TO ACCOUNT FOR LARGEST MARKET SHARE IN 2030    47
4.5    FUEL CELL GENERATOR MARKET, BY SIZE    47
FIGURE 15    SMALL SCALE (UP TO 200 KW) SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2030    47
5    MARKET OVERVIEW    48
5.1    INTRODUCTION    48
5.2    MARKET DYNAMICS    48
FIGURE 16    FUEL CELL GENERATOR MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES    48
5.2.1    DRIVERS    49
5.2.1.1    Global focus on reducing carbon emissions and environmental impact    49
FIGURE 17    CO2 EMISSIONS FROM ENERGY COMBUSTION AND INDUSTRIAL PROCESSES, GT CO2 (2000–2022)    49
5.2.1.2    Rising need for reliable and constant power supply    50
5.2.2    RESTRAINTS    50
5.2.2.1    High cost of catalysts used in fuel cell generators    50
5.2.2.2    High capital expenditure associated with hydrogen energy storage    50
5.2.3    OPPORTUNITIES    51
5.2.3.1    Integration of renewable energy sources into power grids    51
5.2.3.2    Supportive government policies, incentives, and rebates on installation of fuel cell generators    51
FIGURE 18    CLEAN ENERGY INVESTMENTS BY ADVANCED ECONOMIES VS. EMERGING ECONOMIES, 2015–2021 (GT CO2)    52
TABLE 2    POLICIES BY MAJOR ECONOMIES TO STIMULATE HYDROGEN DEMAND    52
5.2.4    CHALLENGES    53
5.2.4.1    Water management in proton-exchange membrane fuel cells    53
5.2.4.2    High operational temperature of solid oxide fuel cells    53
5.3    TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES    54
5.3.1    REVENUE SHIFT AND NEW REVENUE POCKETS IN FUEL CELL GENERATOR MARKET    54
FIGURE 19    REVENUE SHIFT FOR FUEL CELL GENERATOR PROVIDERS    54
5.4    PRICING ANALYSIS    54
5.4.1    PEM BACKUP FUEL CELL GENERATOR INDICATIVE PRICING MODEL ANALYSIS    54
5.4.1.1    5 kW FCG stack and balance of plant (BoP) indicative cost    54
TABLE 3    PEM STACK COMPONENT COST SUMMARY FOR 5 KW BACKUP SYSTEM (USD), 2016    54
TABLE 4    PEM BALANCE OF PLANT (BOP) COST SUMMARY FOR 5 KW BACKUP SYSTEM (USD), 2016    55
TABLE 5    5 KW BACKUP SYSTEM BOP COST DISTRIBUTION    55
5.4.1.2    10 kW FCG stack and balance of plant (BoP) indicative cost    55
TABLE 6    PEM STACK COMPONENT COST SUMMARY FOR 10 KW BACKUP SYSTEM (USD), 2016    55
TABLE 7    PEM BALANCE OF PLANT (BOP) COST SUMMARY FOR 10 KW BACKUP SYSTEM (USD), 2016    56
TABLE 8    10 KW BACKUP SYSTEM BOP COST DISTRIBUTION    56
5.4.2    PEM STACK AND SYSTEM BOP PRICING MODEL ANALYSIS    57
5.4.2.1    PEM stack component cost summary    57
TABLE 9    PEM STACK COMPONENT COST SUMMARY FOR 100 KW & 250 KW SYSTEMS (USD)    57
5.4.2.1.1    100 KW PEM stack component cost summary    58
FIGURE 20    100 KW PEM STACK COMPONENT COST SUMMARY BREAKUP (100 STACKS/YEAR)    58
FIGURE 21    100 KW PEM STACK COMPONENT COST SUMMARY BREAKUP (1,000 STACKS/YEAR)    58
FIGURE 22    100 KW PEM STACK COMPONENT COST SUMMARY BREAKUP (10,000 STACKS/YEAR)    59
FIGURE 23    100 KW PEM STACK COMPONENT COST SUMMARY BREAKUP (50,000 STACKS/YEAR)    59
5.4.2.1.2    250 KW PEM stack component cost summary    60
FIGURE 24    250 KW PEM STACK COMPONENT COST SUMMARY BREAKUP (100 STACKS/YEAR)    60
FIGURE 25    250 KW PEM STACK COMPONENT COST SUMMARY BREAKUP (1,000 STACKS/YEAR)    60
FIGURE 26    250 KW PEM STACK COMPONENT COST SUMMARY BREAKUP (10,000 STACKS/YEAR)    61
FIGURE 27    250 KW PEM STACK COMPONENT COST SUMMARY BREAKUP (50,000 STACKS/YEAR)    61
5.4.2.2    PEM stack manufacturing cost summary    62
TABLE 10    PEM STACK MANUFACTURING COST SUMMARY: 100 KW & 250 KW SYSTEM (USD)    62
5.4.2.2.1    100 KW PEM stack manufacturing cost summary    62
FIGURE 28    100 KW PEM STACK MANUFACTURING COST SUMMARY BREAKUP (100 STACKS/YEAR)    62
FIGURE 29    100 KW PEM STACK MANUFACTURING COST SUMMARY BREAKUP (1,000 STACKS/YEAR)    63
FIGURE 30    100 KW PEM STACK MANUFACTURING COST SUMMARY BREAKUP (10,000 STACKS/YEAR)    63
FIGURE 31    100 KW PEM STACK MANUFACTURING COST SUMMARY BREAKUP (50,000 STACKS/YEAR)    64
5.4.2.2.2    250 KW PEM stack manufacturing cost summary    64
FIGURE 32    250 KW PEM STACK MANUFACTURING COST SUMMARY BREAKUP (100 STACKS/YEAR)    64
FIGURE 33    250 KW PEM STACK MANUFACTURING COST SUMMARY BREAKUP (1,000 STACKS/YEAR)    65
FIGURE 34    250 KW PEM STACK MANUFACTURING COST SUMMARY BREAKUP (10,000 STACKS/YEAR)    65
FIGURE 35    250 KW PEM STACK MANUFACTURING COST SUMMARY BREAKUP (50,000 STACKS/YEAR)    66
5.4.2.3    PEM BoP cost summary    66
5.4.2.3.1    100 KW PEM BoP cost summary    66
FIGURE 36    100 KW PEM BOP COST SUMMARY BREAKUP (100 STACKS/YEAR)    66
FIGURE 37    100 KW PEM BOP COST SUMMARY BREAKUP (1,000 STACKS/YEAR)    67
FIGURE 38    100 KW PEM BOP COST SUMMARY BREAKUP (10,000 STACKS/YEAR)    67
FIGURE 39    100 KW PEM BOP COST SUMMARY BREAKUP (50,000 STACKS/YEAR)    68
5.4.2.3.2    250 KW PEM BoP cost summary    68
FIGURE 40    250 KW PEM BOP COST SUMMARY BREAKUP (100 STACKS/YEAR)    68
FIGURE 41    250 KW PEM BOP COST SUMMARY BREAKUP (1,000 STACKS/YEAR)    69
FIGURE 42    250 KW PEM BOP COST SUMMARY BREAKUP (10,000 STACKS/YEAR)    69
FIGURE 43    250 KW PEM BOP COST SUMMARY BREAKUP (50,000 STACKS/YEAR)    70
5.5    TECHNOLOGY ANALYSIS    70
5.5.1    ATOMICALLY DISPERSED PT AND FE SITES AND PT–FE NANOPARTICLES FOR DURABLE PROTON-EXCHANGE MEMBRANE FUEL CELLS    70
5.5.2    NANOPARTICLE-BASED FUEL CELLS    70
5.5.3    NON-PRECIOUS METAL CATALYST-BASED FUEL CELLS    70
5.5.4    HEXAGONAL PEROVSKITES FOR CERAMIC FUEL CELLS    71
5.6    TRADE ANALYSIS    71
5.6.1    EXPORT SCENARIO    71
TABLE 11    EXPORT SCENARIO FOR HS CODE: 280410, BY COUNTRY, 2020–2022 (USD THOUSAND)    71
FIGURE 44    EXPORT DATA FOR TOP 5 COUNTRIES, 2020–2022 (USD)    71
5.6.2    IMPORT SCENARIO    72
TABLE 12    IMPORT SCENARIO FOR HS CODE: 280410, BY COUNTRY, 2020–2022 (USD THOUSAND)    72
FIGURE 45    IMPORT DATA FOR TOP 5 COUNTRIES, 2020–2022 (USD THOUSAND)    72
5.7    KEY CONFERENCES AND EVENTS, 2023–2024    73
TABLE 13    FUEL CELL GENERATOR MARKET: DETAILED LIST OF CONFERENCES AND EVENTS, 2023–2024    73
5.8    SUPPLY CHAIN ANALYSIS    75
FIGURE 46    FUEL CELL GENERATOR SUPPLY CHAIN ANALYSIS    75
TABLE 14    FUEL CELL GENERATOR MARKET PLAYERS: ROLE IN SUPPLY CHAIN    76
5.9    MARKET MAPPING    77
FIGURE 47    FUEL CELL GENERATOR MARKET MAP    77
5.10    PATENT ANALYSIS    78
5.10.1    LIST OF MAJOR PATENTS    78
TABLE 15    FUEL CELL GENERATORS: INNOVATIONS AND PATENT REGISTRATIONS, MARCH 2021–FEBRUARY 2023    78
5.11    CASE STUDY ANALYSIS    81
5.11.1    SAMSUNG HEAVY INDUSTRIES PLANS TO DEVELOP CLEAN POWER SHIPS BY JOINING HANDS WITH BLOOM ENERGY    81
5.11.1.1    Problem statement    81
5.11.1.2    Solution    81
5.11.2    SOUTHERN COMMUNICATION SERVICES EMPLOYS PLUG POWER’S HYDROGEN FUEL CELLS FOR UNINTERRUPTED POWER SUPPLY    81
5.11.2.1    Problem statement    81
5.11.2.2    Solution    81
5.11.3    IKEA USES BLOOM ENERGY’S FUEL CELL GENERATORS AS BACKUP SYSTEMS IN POWER GENERATION PLANT    81
5.11.3.1    Problem statement    81
5.11.3.2    Solution    81
5.12    CODES AND REGULATIONS    82
5.12.1    REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS    82
TABLE 16    NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS    82
TABLE 17    EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS    82
TABLE 18    ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS    83
5.12.2    REGULATIONS RELATED TO FUEL CELL GENERATORS    83
5.12.2.1    Regulatory framework in North America    83
5.12.2.2    Regulatory framework in Europe    84
5.12.2.3    Regulatory framework in Asia Pacific    84
5.13    PORTER'S FIVE FORCES ANALYSIS    85
FIGURE 48    PORTER'S FIVE FORCES ANALYSIS FOR FUEL CELL GENERATOR MARKET    85
TABLE 19    FUEL CELL GENERATOR MARKET: PORTER'S FIVE FORCES ANALYSIS    86
5.13.1    THREAT OF SUBSTITUTES    86
5.13.2    BARGAINING POWER OF SUPPLIERS    86
5.13.3    BARGAINING POWER OF BUYERS    86
5.13.4    THREAT OF NEW ENTRANTS    87
5.13.5    INTENSITY OF COMPETITIVE RIVALRY    87
5.14    KEY STAKEHOLDERS AND BUYING CRITERIA    87
5.14.1    KEY STAKEHOLDERS IN BUYING PROCESS    87
FIGURE 49    INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS, BY END USER    87
TABLE 20    INFLUENCE OF KEY END USERS IN BUYING PROCESS (%)    87
5.14.2    BUYING CRITERIA    88
FIGURE 50    KEY BUYING CRITERIA OF KEY END USERS    88
TABLE 21    KEY BUYING CRITERIA, BY END USER    88
6    FUEL CELL GENERATOR MARKET, BY FUEL TYPE    89
6.1    INTRODUCTION    90
FIGURE 51    FUEL CELL GENERATOR MARKET, BY FUEL TYPE, 2022    90
TABLE 22    FUEL CELL GENERATOR MARKET, BY FUEL TYPE, 2020–2022 (USD MILLION)    90
TABLE 23    FUEL CELL GENERATOR MARKET, BY FUEL TYPE, 2023–2030 (USD MILLION)    90
TABLE 24    PRODUCT AVAILABILITY STATUS OF MARKET PLAYERS, BY FUEL TYPE    91
6.2    HYDROGEN    91
6.2.1    HIGH ENERGY DENSITY OF HYDROGEN TO SUPPORT SEGMENTAL GROWTH    91
6.3    METHANOL    92
6.3.1    EASE OF STORAGE AND USE TO BOOST DEMAND FOR METHANOL    92
6.4    AMMONIA    92
6.4.1    STRINGENT REGULATIONS TO REDUCE CARBON FOOTPRINT TO INCREASE DEMAND FOR AMMONIA    92
7    FUEL CELL GENERATOR MARKET, BY SIZE    93
7.1    INTRODUCTION    94
FIGURE 52    FUEL CELL GENERATOR MARKET, BY SIZE, 2022    94
TABLE 25    FUEL CELL GENERATOR MARKET, BY SIZE, 2020–2022 (USD MILLION)    94
TABLE 26    FUEL CELL GENERATOR MARKET, BY SIZE, 2023–2030 (USD MILLION)    94
TABLE 27    PRODUCT AVAILABILITY STATUS OF MARKET PLAYERS, BY SIZE    95
7.2    SMALL SCALE (UP TO 200 KW)    96
7.2.1    DIVERSE POWER OUTPUT OF SMALL FUEL CELL SYSTEMS TO INCREASE THEIR USE BY ALL END USERS    96
7.3    LARGE SCALE (ABOVE 200 KW)    96
7.3.1    ROBUST ENERGY AND CLIMATE POLICIES TO DRIVE MARKET    96
8    FUEL CELL TECHNOLOGIES DEPLOYED IN BACKUP POWER GENERATORS    97
8.1    INTRODUCTION    97
8.2    PROTON-EXCHANGE MEMBRANE FUEL CELL (PEMFC)    97
8.2.1    INCREASING USE OF PEM FUEL CELLS IN MARINE APPLICATIONS    97
8.3    SOLID OXIDE FUEL CELL (SOFC)    97
8.3.1    RISING ADOPTION OF SOFCS IN ENERGY SECTOR TO ACHIEVE HIGH ELECTRICAL EFFICIENCY AND LOW CO2 EMISSIONS    97
8.4    ALKALINE FUEL CELL (AFC)    98
8.4.1    HIGH ADOPTION OF AFC IN CONSTRUCTION AND MARINE APPLICATIONS    98
8.5    PHOSPHORIC ACID FUEL CELL (PAFC)    98
8.5.1    ADOPTION OF PAFCS IN STATIONARY APPLICATIONS    98
9    FUEL CELL GENERATOR MARKET, BY END USER    99
9.1    INTRODUCTION    100
FIGURE 53    FUEL CELL GENERATOR MARKET, BY END USER, 2022    100
TABLE 28    FUEL CELL GENERATOR MARKET, BY END USER, 2020–2022 (MW)    100
TABLE 29    FUEL CELL GENERATOR MARKET, BY END USER, 2023–2030 (MW)    101
TABLE 30    FUEL CELL GENERATOR MARKET, BY END USER, 2020–2022 (USD MILLION)    101
TABLE 31    FUEL CELL GENERATOR MARKET, BY END USER, 2023–2030 (USD MILLION)    102
TABLE 32    PRODUCT AVAILABILITY STATUS OF MARKET PLAYERS, BY END USER    102
9.2    MARINE ENGINEERING PLATFORMS    103
9.2.1    DECARBONIZATION TARGETS SET BY INTERNATIONAL MARITIME ORGANIZATIONS TO STIMULATE DEMAND    103
9.3    CONSTRUCTION SITES    104
9.3.1    REPLACEMENT OF DIESEL GENERATORS WITH FUEL CELL GENERATORS TO ACHIEVE DECARBONIZATION GOALS TO DRIVE MARKET    104
9.4    AGRICULTURAL FACILITIES    104
9.4.1    IMPLEMENTATION OF HYDROGEN GENERATORS IN AGRICULTURAL APPLICATIONS TO SUPPORT MARKET GROWTH    104
9.5    AQUACULTURE FACILITIES    104
9.5.1    RISING NEED FOR ENERGY-EFFICIENT AND LOW-NOISE SOLUTIONS IN AQUACULTURE FACILITIES TO BOOST DEMAND FOR FUEL CELL GENERATORS    104
9.6    DATA CENTERS    105
9.6.1    GROWING USE OF BACKUP POWER SYSTEMS DURING OUTAGES TO PUSH DEMAND FOR FUEL CELL GENERATORS    105
9.7    EMERGENCY RESPONSE GENERATORS    105
9.7.1    POWER BACKUP REQUIREMENT FROM TELECOM TOWERS TO CONTRIBUTE TO MARKET GROWTH    105
10    FUEL CELL GENERATOR MARKET, BY REGION    106
10.1    INTRODUCTION    107
FIGURE 54    EUROPE TO BE FASTEST-GROWING MARKET FOR FUEL CELL GENERATORS DURING FORECAST PERIOD    107
FIGURE 55    FUEL CELL GENERATOR MARKET, BY REGION, 2022    107
TABLE 33    FUEL CELL GENERATOR MARKET, BY REGION, 2020–2022 (MW)    108
TABLE 34    FUEL CELL GENERATOR MARKET, BY REGION, 2023–2030 (MW)    108
TABLE 35    FUEL CELL GENERATOR MARKET, BY REGION, 2020–2022 (USD MILLION)    108
TABLE 36    FUEL CELL GENERATOR MARKET, BY REGION, 2023–2030 (USD MILLION)    109
10.2    ASIA PACIFIC    109
FIGURE 56    ASIA PACIFIC: FUEL CELL GENERATOR MARKET SNAPSHOT    109
TABLE 37    FUEL CELL GENERATOR PROJECTS IN ASIA PACIFIC    110
10.2.1    ASIA PACIFIC: IMPACT OF RECESSION    110
10.2.2    CHINA    110
10.2.2.1    Increasing focus on improving energy efficiency to drive market    110
10.2.2.2    Macro factors    111
TABLE 38    CHINA: CO2 EMISSIONS (TONNES PER CAPITA), 2010–2022    111
TABLE 39    CHINA: NUMBER OF SHIPS, 2016–2021    111
10.2.3    INDIA    111
10.2.3.1    Need for decarbonization of energy sector to support market growth    111
10.2.3.2    Macro factors    111
TABLE 40    INDIA: CO2 EMISSIONS (TONNES PER CAPITA), 2010–2021    111
10.2.4    JAPAN    111
10.2.4.1    Rise in use of hydrogen for clean energy to boost demand for fuel cell generators    111
10.2.4.2    Macro factors    112
TABLE 41    JAPAN: CO2 EMISSIONS (TONNES PER CAPITA), 2010–2021    112
TABLE 42    JAPAN: NUMBER OF SHIPS, 2016–2021    112
10.3    NORTH AMERICA    112
FIGURE 57    NORTH AMERICA: FUEL CELL GENERATOR MARKET SNAPSHOT    113
TABLE 43    FUEL CELL TECHNOLOGY-RELATED PROJECTS IN NORTH AMERICA    113
10.3.1    NORTH AMERICA: IMPACT OF RECESSION    114
10.3.2    US    114
10.3.2.1    Growing focus on clean energy generation to boost demand for fuel cell technology    114
10.3.2.2    Macro factors    114
TABLE 44    US: CO2 EMISSIONS (TONNES PER CAPITA), 2010–2022    114
TABLE 45    US: NUMBER OF SHIPS, 2016–2021    114
10.3.3    CANADA    115
10.3.3.1    Government grants to run fuel cell technology-based programs to support market growth    115
10.3.3.2    Macro factors    115
TABLE 46    CANADA: CO2 EMISSIONS (TONNES PER CAPITA), 2010–2021    115
10.4    EUROPE    115
TABLE 47    FUEL CELL TECHNOLOGY-RELATED PROJECTS IN EUROPE    116
10.4.1    EUROPE: IMPACT OF RECESSION    116
10.4.2    GERMANY    116
10.4.2.1    Focus on emission-free transportation to foster requirement for fuel cell technology    116
10.4.2.2    Macro factors    117
TABLE 48    GERMANY: CO2 EMISSIONS (TONNES PER CAPITA), 2010–2021    117
TABLE 49    GERMANY: NUMBER OF SHIPS, 2016–2021    117
10.4.3    UK    117
10.4.3.1    Efforts to reduce GHG emissions to stimulate demand for fuel cell technology    117
10.4.3.2    Macro factors    117
TABLE 50    UK: CO2 EMISSIONS (TONNES PER CAPITA), 2010–2021    117
TABLE 51    UK: NUMBER OF SHIPS, 2016–2021    118
10.4.4    FRANCE    118
10.4.4.1    Energy transition outlook of French government to facilitate market growth    118
10.4.4.2    Macro factors    118
TABLE 52    FRANCE: CO2 EMISSIONS (TONNES PER CAPITA), 2010–2021    118
TABLE 53    FRANCE: NUMBER OF SHIPS, 2016–2021    118
10.4.5    REST OF EUROPE    118
10.5    REST OF THE WORLD (ROW)    119
10.5.1    MACRO FACTORS    119
TABLE 54    ROW: CO2 EMISSIONS (TONNES PER CAPITA), 2010–2019    119
11    COMPETITIVE LANDSCAPE    120
11.1    OVERVIEW    120
FIGURE 58    KEY DEVELOPMENTS IN FUEL CELL GENERATOR MARKET, 2018–2023    121
11.2    INDUSTRY CONCENTRATION OF KEY PLAYERS, 2022    122
FIGURE 59    INDUSTRY CONCENTRATION OF KEY PLAYERS, 2022    122
11.3    MARKET EVALUATION FRAMEWORK    122
TABLE 55    MARKET EVALUATION FRAMEWORK, 2018–2023    122
11.4    SEGMENTAL REVENUE ANALYSIS OF TOP MARKET PLAYERS    124
FIGURE 60    SEGMENTAL REVENUE ANALYSIS, 2017–2022    124
11.5    COMPETITIVE SCENARIO AND TRENDS    125
11.5.1    DEALS    125
TABLE 56    FUEL CELL GENERATOR MARKET: DEALS, 2018–2023    125
11.5.2    OTHERS    126
TABLE 57    FUEL CELL GENERATOR MARKET: OTHERS, 2022    126
11.6    EVALUATION MATRIX FOR KEY PLAYERS    127
11.6.1    STARS    127
11.6.2    EMERGING LEADERS    127
11.6.3    PERVASIVE PLAYERS    127
11.6.4    PARTICIPANTS    127
FIGURE 61    FUEL CELL GENERATOR MARKET: EVALUATION MATRIX FOR KEY PLAYERS, 2022    128
11.7    FUEL CELL GENERATOR MARKET: COMPANY FOOTPRINT    129
TABLE 58    COMPANY TYPE FOOTPRINT    129
TABLE 59    COMPANY END USER FOOTPRINT    129
TABLE 60    COMPANY FUEL TYPE FOOTPRINT    130
TABLE 61    COMPANY POWER RATING WITH SIZE FOOTPRINT    131
TABLE 62    COMPANY REGION FOOTPRINT    132
11.8    EVALUATION MATRIX FOR START-UPS/SMALL AND MEDIUM-SIZED ENTERPRISES (SMES)    133
11.8.1    PROGRESSIVE COMPANIES    133
11.8.2    RESPONSIVE COMPANIES    133
11.8.3    DYNAMIC COMPANIES    133
11.8.4    STARTING BLOCKS    133
FIGURE 62    FUEL CELL GENERATOR MARKET: EVALUATION MATRIX FOR START-UPS/SMES, 2022    134
11.9    COMPETITIVE BENCHMARKING    135
TABLE 63    FUEL CELL GENERATOR MARKET: DETAILED LIST OF KEY START-UPS/SMES    135
TABLE 64    COMPANY TYPE FOOTPRINT: COMPETITIVE BENCHMARKING FOR START-UPS/SMES    135
TABLE 65    COMPANY FUEL TYPE FOOTPRINT: COMPETITIVE BENCHMARKING FOR START-UPS/SMES    136
TABLE 66    COMPANY POWER RATING FOOTPRINT: COMPETITIVE BENCHMARKING FOR START-UPS/SMES    136
TABLE 67    COMPANY END USER FOOTPRINT: COMPETITIVE BENCHMARKING FOR START-UPS/SMES    137
TABLE 68    COMPANY REGION FOOTPRINT: COMPETITIVE BENCHMARKING FOR START-UPS/SMES    137
12    COMPANY PROFILES    138
(Business overview, Products offered, Recent Developments, MNM view)*
12.1    KEY PLAYERS    138
12.1.1    BLOOM ENERGY    138
TABLE 69    BLOOM ENERGY: COMPANY OVERVIEW    138
FIGURE 63    BLOOM ENERGY: COMPANY SNAPSHOT    139
TABLE 70    BLOOM ENERGY: PRODUCTS OFFERED    139
TABLE 71    BLOOM ENERGY: DEALS    140
TABLE 72    BLOOM ENERGY: OTHERS    141
12.1.2    DOOSAN FUEL CELL CO., LTD.    143
TABLE 73    DOOSAN FUEL CELL CO., LTD.: COMPANY OVERVIEW    143
FIGURE 64    DOOSAN FUEL CELL CO., LTD.: COMPANY SNAPSHOT    144
TABLE 74    DOOSAN FUEL CELL CO., LTD.: PRODUCTS OFFERED    144
TABLE 75    DOOSAN FUEL CELL CO., LTD.: DEALS    144
TABLE 76    DOOSAN FUEL CELL CO., LTD.: OTHERS    146
12.1.3    POWERCELL SWEDEN AB    148
TABLE 77    POWERCELL SWEDEN AB: COMPANY OVERVIEW    148
FIGURE 65    POWERCELL SWEDEN AB: COMPANY SNAPSHOT    149
TABLE 78    POWERCELL SWEDEN AB: PRODUCTS OFFERED    149
TABLE 79    POWERCELL SWEDEN AB: PRODUCT LAUNCHES    150
TABLE 80    POWERCELL SWEDEN AB: DEALS    150
TABLE 81    POWERCELL SWEDEN AB: OTHERS    151

12.1.4    BALLARD POWER SYSTEMS    153
TABLE 82    BALLARD POWER SYSTEMS: COMPANY OVERVIEW    153
FIGURE 66    BALLARD POWER SYSTEMS: COMPANY SNAPSHOT    154
TABLE 83    BALLARD POWER SYSTEMS: PRODUCTS OFFERED    154
TABLE 84    BALLARD POWER SYSTEMS: PRODUCT LAUNCHES    155
TABLE 85    BALLARD POWER SYSTEMS: DEALS    155
TABLE 86    BALLARD POWER SYSTEMS: OTHERS    157
12.1.5    NEDSTACK FUEL CELL TECHNOLOGY BV    159
TABLE 87    NEDSTACK FUEL CELL TECHNOLOGY BV: COMPANY OVERVIEW    159
TABLE 88    NEDSTACK FUEL CELL TECHNOLOGY BV: PRODUCTS OFFERED    159
TABLE 89    NEDSTACK FUEL CELL TECHNOLOGY BV: DEALS    160
12.1.6    PLUG POWER INC.    162
TABLE 90    PLUG POWER INC.: COMPANY OVERVIEW    162
FIGURE 67    PLUG POWER INC.: COMPANY SNAPSHOT    163
TABLE 91    PLUG POWER INC.: PRODUCTS OFFERED    163
12.1.7    TECO 2030    165
TABLE 92    TECO 2030: COMPANY OVERVIEW    165
FIGURE 68    TECO 2030: COMPANY SNAPSHOT    166
TABLE 93    TECO 2030: PRODUCTS OFFERED    166
TABLE 94    TECO 2030: DEALS    166
12.1.8    ABB    168
TABLE 95    ABB: COMPANY OVERVIEW    168
FIGURE 69    ABB: COMPANY SNAPSHOT    169
TABLE 96    ABB: PRODUCTS OFFERED    169
TABLE 97    ABB: DEALS    170
12.1.9    LOOP ENERGY INC.    171
TABLE 98    LOOP ENERGY INC.: COMPANY OVERVIEW    171
FIGURE 70    LOOP ENERGY INC.: COMPANY SNAPSHOT    171
TABLE 99    LOOP ENERGY INC.: PRODUCTS OFFERED    172
TABLE 100    LOOP ENERGY INC.: DEALS    172
12.1.10    SIEMENS ENERGY    174
TABLE 101    SIEMENS ENERGY: COMPANY OVERVIEW    174
FIGURE 71    SIEMENS ENERGY: COMPANY SNAPSHOT    175
TABLE 102    SIEMENS ENERGY: PRODUCTS OFFERED    175
12.1.11    CUMMINS INC.    176
TABLE 103    CUMMINS INC.: BUSINESS OVERVIEW    176
FIGURE 72    CUMMINS INC.: COMPANY SNAPSHOT    177
TABLE 104    CUMMINS INC.: PRODUCTS OFFERED    177
TABLE 105    CUMMINS INC.: DEALS    178
12.1.12    AFC ENERGY PLC    179
TABLE 106    AFC ENERGY PLC: BUSINESS OVERVIEW    179
FIGURE 73    AFC ENERGY PLC: COMPANY SNAPSHOT    179
TABLE 107    AFC ENERGY PLC: PRODUCTS OFFERED    180
TABLE 108    AFC ENERGY PLC: DEALS    180
TABLE 109    AFC ENERGY PLC: OTHERS    180
12.1.13    TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION    181
TABLE 110    TOSHIBA GLOBAL: COMPANY OVERVIEW    181
FIGURE 74    TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: COMPANY SNAPSHOT    182
TABLE 111    TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: PRODUCTS OFFERED    182
TABLE 112    TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: DEALS    183
12.1.14    PROTON MOTOR POWER SYSTEMS PLC    185
TABLE 113    PROTON MOTOR POWER SYSTEMS PLC: COMPANY OVERVIEW    185
FIGURE 75    PROTON MOTOR POWER SYSTEMS PLC: COMPANY SNAPSHOT    185
TABLE 114    PROTON MOTOR POWER SYSTEMS PLC: PRODUCTS OFFERED    186
TABLE 115    PROTON MOTOR POWER SYSTEMS PLC: DEALS    186
12.1.15    PANASONIC CORPORATION    187
TABLE 116    PANASONIC CORPORATION: COMPANY OVERVIEW    187
FIGURE 76    PANASONIC CORPORATION: COMPANY SNAPSHOT    188
TABLE 117    PANASONIC CORPORATION: PRODUCTS OFFERED    188
TABLE 118    PANASONIC CORPORATION: PRODUCT LAUNCHES    189
TABLE 119    PANASONIC CORPORATION: DEALS    189
12.1.16    EODEV    190
TABLE 120    EODEV: BUSINESS OVERVIEW    190
TABLE 121    EODEV: PRODUCTS OFFERED    190
TABLE 122    EODEV: DEALS    191
12.1.17    GENCELL LTD.    192
TABLE 123    GENCELL LTD.: COMPANY OVERVIEW    192
FIGURE 77    GENCELL LTD.: COMPANY SNAPSHOT    192
TABLE 124    GENCELL LTD.: PRODUCTS OFFERED    193
*Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
12.2    OTHER PLAYERS    194
12.2.1    FUJI ELECTRIC CO., LTD.    194
12.2.2    POWERUP ENERGY TECHNOLOGIES    195
12.2.3    TW HORIZON FUEL CELL TECHNOLOGIES    195
12.2.4    ALTERGY    196
12.2.5    FREUDENBERG SEALING TECHNOLOGIES GMBH & CO. KG    196
12.2.6    BOC LIMITED    197
12.2.7    H2SYS    197
12.2.8    GAUSSIN    198
12.2.9    YANMAR HOLDINGS CO., LTD    198

13    APPENDIX    199
13.1    INSIGHTS FROM INDUSTRY EXPERTS    199
13.2    DISCUSSION GUIDE    200
13.3    KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL    204
13.4    CUSTOMIZATION OPTIONS    206
13.5    RELATED REPORTS    206
13.6    AUTHOR DETAILS    207