カテゴリー： MarketsandMarkets, 世界, 環境/エネルギー

燃料電池のグローバル市場予測（～2028）：PEMFC、SOFC、PAFC、MFC、DMFC、AFC

◆英語タイトル：Fuel Cell Market by Type (PEMFC, SOFC, PAFC, MFC, DMFC, AFC), Application (Portable, Stationary, Vehicle (FCVs)), End User (Residential, C&l, Transportation, Data Center, Military & Defense), Size, Fuel, Component and Region - Global Forecast to 2028
	◆商品コード：EP2762-24 ◆発行会社（リサーチ会社）：MarketsandMarkets ◆発行日：2023年12月20日 ◆ページ数：317 ◆レポート形式：英語 / PDF ◆納品方法：Eメール（受注後24時間以内） ◆調査対象地域：グローバル ◆産業分野：エネルギー

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❖ レポートの概要 ❖

“世界の燃料電池市場は2023年の33億米ドルから2028年には87億米ドルに成長すると推定され、予測期間中のCAGRは21.7％を記録する見込み”燃料電池市場の成長は、二酸化炭素排出量削減への意識の高まりと取り組み、生産、貯蔵、流通を網羅する水素インフラの拡大に起因しています。さらに、発電や熱電併給（CHP）アプリケーションにおける燃料電池のセットアップ要件の増加により、燃料電池市場は今後成長するでしょう。

“固体高分子形燃料電池：燃料電池市場のタイプ別第2位”
燃料電池市場はタイプ別に、固体酸化物形燃料電池、固体高分子形燃料電池、リン酸形燃料電池、微生物形燃料電池、直接メタノール形燃料電池、アルカリ形燃料電池の2種類に分類されています。予測期間中、固体高分子形燃料電池は2番目に大きなセグメントになると予想されています。固体高分子形燃料電池は、汎用性と適応性に優れているため、さまざまな用途や電力ニーズへの展開が可能です。その柔軟性は、小型のポータブル機器から、車両や定置式発電を含む大規模な実装にまで及びます。

“商業・産業分野は燃料電池市場で2番目に大きい分野”
エンドユーザー別に見ると、燃料電池市場は運輸、商業・産業、住宅、データセンター、公益事業・政府/自治体機関、軍事・防衛に区分されています。商業・産業部門は、製造プロセス、商業施設の運営、データセンター、その他の産業活動のために多大なエネルギーを必要とします。燃料電池は、このような厳しいエネルギー需要を満たすための、信頼性が高く効率的な電源を提供します。数多くの商業・産業団体が、排出量の大幅な削減を目指しています。燃料電池はクリーンな代替エネルギーを提供し、従来の化石燃料ベースの発電とは対照的に汚染物質の排出を最小限に抑えることで、持続可能性の目標をサポートします。

“用途別では、燃料電池自動車分野が予測期間中に第2位の規模になる見込み”
用途に基づき、燃料電池市場は定置型、燃料電池自動車、携帯型に区分されます。燃料電池車セグメントは、予測期間中、燃料電池市場で2番目に大きなセグメントになると予想されています。燃料電池自動車は、従来の内燃機関自動車と比較してゼロ・エミッションの選択肢であり、環境意識の高い消費者や、よりクリーンな代替輸送手段を目指す政府にとって魅力的です。燃料電池が提供する高出力と航続距離の延長は、トラック、バス、その他の商用車などの大型用途で特に魅力的であり、これらの用途におけるバッテリーの重量と航続距離の制限に関する実質的な懸念に対処しています。

“アジア太平洋燃料電池市場で最も成長著しい地域”
2023～2028年の燃料電池市場では、北米に次いでアジア太平洋が急成長すると予想されています。アジア太平洋は、温室効果ガス排出削減の政府目標を達成するためのグリーン技術導入の主要市場です。日本と韓国は、日本の燃料電池マイクロCHP製品の商業化により、2009年以来、燃料電池導入に多額の投資を行っています。エネルギー分野への投資は過去5年間で大幅に伸びており、これが燃料電池市場を後押しすると期待されています。中国とインドは世界で最も人口の多い国であり、農業は依然として経済の重要な要素です。

プライマリーの内訳は以下の通りです：
重要な定性的・定量的情報を入手・検証し、将来の市場見通しを評価するため、様々な主要業界関係者、主題専門家、主要市場プレイヤーのCレベル幹部、業界コンサルタントなどの専門家に詳細なインタビューを実施しました。

一次インタビューの分布は以下の通りです：
企業タイプ別ティア1- 65％、ティア2- 24％、ティア3- 11％
役職別 Cレベル- 30％、Directorレベル- 25％、その他- 45％
地域別北米- 27％、ヨーロッパ- 20％、アジア太平洋- 53％
注：その他には、セールス・マネージャー、エンジニア、リージョナル・マネージャーを含みます。
注：企業の階層は、2022年時点の総収入に基づいて定義されています。ティア1：10億米ドル超、ティア2：5億米ドルから10億米ドル、ティア3：5億米ドル未満を指します。

燃料電池市場は、幅広い地域で事業を展開する少数の大手企業によってリードされています。燃料電池市場の大手企業は、Bloom Energy (US), Doosan Fuel Cell Co., Ltd. (South Korea), Aisin Corporation (Japan), Plug Power Inc. (US), KYOCERA Corporation (Japan)などです。各社が採用している主な戦略には、新製品の発売、契約・協定、投資・拡張などがあります。

調査範囲：
本レポートでは、世界の燃料電池市場をコンポーネント別、タイプ別、サイズ別、燃料別、エンドユーザー別、用途別、地域別に定義、記述、予測しています。また、市場の詳細な質的・量的分析も行っています。主な市場促進要因、阻害要因、機会、課題を包括的にレビューしています。また、市場の様々な重要な側面もカバーしています。これらには、競争環境、市場ダイナミクス、金額ベースの市場予測、燃料電池市場の将来動向などの分析が含まれます。

レポート購入の主な利点：
- 燃料電池市場は近年大幅に進歩・拡大しています。アウトドア活動、緊急時の備え、信頼できるオフグリッドエネルギーの必要性などの要因に後押しされたポータブルパワーソリューションに対する需要の高まりが、市場を前進させています。主要な市場参入企業は、より高い電力容量、携帯性の向上、高速充電、再生可能エネルギー源との統合、高度な制御システム、接続オプション、強化された安全機能などの革新的な機能を導入し、製品開発に積極的に取り組んでいます。さらに、市場は、さまざまな最終用途の要件に対応するさまざまなサイズの製品ラインナップの拡大を目撃しています。
- 製品開発／イノベーション：燃料電池メーカーは、製品の能力を高めるために、製品開発と技術革新の推進に深く関与しています。その焦点は、バッテリー技術の進歩を活用した出力容量の増強、軽量化とフォームファクターの改善による携帯性の向上、効率改善による急速充電の促進です。ソーラーパネルのような再生可能エネルギー源の統合は、技術革新の重要な分野として際立っています。さらに、先進的な制御・監視システムの開発にも注力し、ユーザーに制御性と視認性の向上を提供することを目指しています。
- 市場の発展：燃料電池市場は、複数の要因によって大幅な成長が見込まれています。主に、世界的な持続可能性の重視と、よりクリーンなエネルギー源へのシフトが、燃料電池技術にとって好都合な状況を生み出しています。低排出で無公害の発電を提供する燃料電池は、環境目標や規制にシームレスに適合します。第二に、効率、耐久性、費用対効果の改善を含む燃料電池技術の技術的進歩は、様々な用途における性能と魅力を大幅に向上させています。これらの進歩により、燃料電池の市場ポテンシャルは、輸送、住宅、商業、工業の各分野に広がっています。さらに、インセンティブ、政策、資金調達プログラムを通じた政府の支援は、燃料電池の採用をさらに促進しています。
- 市場の多様化：Bloom Energyは、独立系石油・ガス会社のペレンコと、ブルームの固体酸化物燃料電池技術をイギリスで2.5メガワット（MW）展開する契約を締結。
- 競争力の評価：Bloom Energy (US), Doosan Fuel Cell Co., Ltd. (South Korea), Aisin Corporation (Japan), Plug Power Inc. (US), KYOCERA Corporation (Japan)など、燃料電池市場における主要企業の市場シェア、成長戦略、サービス内容を詳細に評価しています。

1.　イントロダクション
2.　調査方法
3.　エグゼクティブサマリー
4.　プレミアムインサイト
5.　市場概要
6.　世界の燃料電池市場規模：サイズ別
7.　世界の燃料電池市場規模：燃料種類別
8.　世界の燃料電池市場規模：種類別
9.　世界の燃料電池市場規模：コンポーネント別
10.　世界の燃料電池市場規模：用途別
11.　世界の燃料電池市場規模：エンドユーザー別
12.　世界の燃料電池市場規模：地域別
13.　競争環境
14.　企業情報
15.　付録

❖ レポートの目次 ❖

1 INTRODUCTION 39
1.1 STUDY OBJECTIVES 39
1.2 MARKET DEFINITION 39
1.3 STUDY SCOPE 40
1.3.1 INCLUSIONS AND EXCLUSIONS 40
1.3.2 MARKET COVERED 41
FIGURE 1 FUEL CELL MARKET SEGMENTATION 41
1.3.3 REGIONAL SCOPE 41
1.3.4 YEARS CONSIDERED 42
1.3.5 CURRENCY CONSIDERED 42
1.3.6 UNITS CONSIDERED 42
1.4 STUDY LIMITATIONS 42
1.5 STAKEHOLDERS 43
1.6 SUMMARY OF CHANGES 43
1.7 IMPACT OF RECESSION 44
2 RESEARCH METHODOLOGY 45
2.1 RESEARCH DATA 45
FIGURE 2 FUEL CELL MARKET: RESEARCH DESIGN 45
2.1.1 SECONDARY DATA 46
2.1.1.1 Key data from secondary sources 46
2.1.1.2 List of secondary sources 47
2.1.2 PRIMARY DATA 47
2.1.2.1 Key data from primary sources 48
2.1.2.2 List of primary interview participants 48
2.1.2.3 Breakdown of primaries 49
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION 50
FIGURE 3 FUEL CELL MARKET: DATA TRIANGULATION METHODOLOGY 50
2.3 MARKET SIZE ESTIMATION METHODOLOGY 51
2.3.1 BOTTOM-UP APPROACH 51
FIGURE 4 FUEL CELL MARKET: BOTTOM-UP APPROACH 51
2.3.2 TOP-DOWN APPROACH 52
FIGURE 5 FUEL CELL MARKET: TOP-DOWN APPROACH 52
2.4 DEMAND-SIDE METRICS 53
FIGURE 6 FUEL CELL MARKET: KEY METRICS CONSIDERED TO ANALYZE DEMAND FOR FUEL CELLS 53
2.4.1 REGIONAL ANALYSIS 53
2.4.1.1 Country-level analysis 54

2.4.2 DEMAND-SIDE ASSUMPTIONS 54
2.4.3 DEMAND-SIDE CALCULATIONS 54
2.5 SUPPLY-SIDE METRICS 55
FIGURE 7 FUEL CELL MARKET: KEY METRICS CONSIDERED TO ANALYZE SUPPLY OF FUEL CELLS 55
FIGURE 8 FUEL CELL MARKET: SUPPLY-SIDE ANALYSIS 55
2.5.1 SUPPLY-SIDE ASSUMPTIONS 56
2.5.2 SUPPLY-SIDE CALCULATIONS 56
FIGURE 9 FUEL CELL MARKET: MARKET SHARE ANALYSIS, 2022 56
2.6 FORECAST 57
2.7 RESEARCH LIMITATIONS 57
2.8 RISK ASSESSMENT 57
2.9 RECESSION IMPACT 57
3 EXECUTIVE SUMMARY 58
TABLE 1 FUEL CELL MARKET SNAPSHOT 58
FIGURE 10 ASIA PACIFIC HELD LARGEST SHARE OF FUEL CELL MARKET IN 2022 59
FIGURE 11 SOLID OXIDE FUEL CELLS (SOFCS) TO DOMINATE FUEL CELL MARKET DURING FORECAST PERIOD 60
FIGURE 12 STATIONARY APPLICATION TO HOLD LARGEST SHARE OF FUEL CELL MARKET IN 2028 60
FIGURE 13 TRANSPORTATION END USER TO DOMINATE FUEL CELL MARKET IN 2028 61
FIGURE 14 SMALL-SCALE (UP TO 200 KW) SIZE TO EXHIBIT HIGHER CAGR BETWEEN 2023 AND 2028 62
4 PREMIUM INSIGHTS 63
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN FUEL CELL MARKET 63
FIGURE 15 GOVERNMENT SUBSIDIES TO IMPROVE CLEAN ENERGY INFRASTRUCTURE TO BOOST FUEL CELL MARKET GROWTH BETWEEN 2023 AND 2028 63
4.2 FUEL CELL MARKET, BY REGION 64
FIGURE 16 FUEL CELL MARKET IN EUROPE TO DEPICT HIGHEST CAGR DURING FORECAST PERIOD 64
4.3 FUEL CELL MARKET, BY TYPE 64
FIGURE 17 SOLID OXIDE FUEL CELLS (SOFCS) TO ACCOUNT FOR LARGEST MARKET SHARE IN 2028 64
4.4 FUEL CELL MARKET, BY APPLICATION 65
FIGURE 18 STATIONARY APPLICATION TO ACCOUNT FOR MAJORITY OF MARKET SHARE IN 2028 65
4.5 FUEL CELL MARKET, BY END USER 65
FIGURE 19 TRANSPORTATION END USER TO ACCOUNT FOR LARGEST MARKET SHARE IN 2028 65
4.6 FUEL CELL MARKET, BY SIZE 66
FIGURE 20 SMALL-SCALE (UP TO 200 KW) SEGMENT TO HOLD LARGEST MARKET SHARE IN 2028 66

4.7 FUEL CELL MARKET IN ASIA PACIFIC, BY APPLICATION AND COUNTRY 66
FIGURE 21 STATIONARY APPLICATION AND CHINA ACCOUNTED FOR LARGEST SHARES OF ASIA PACIFIC FUEL CELL MARKET IN 2022 66
5 MARKET OVERVIEW 67
5.1 INTRODUCTION 67
5.2 MARKET DYNAMICS 67
FIGURE 22 FUEL CELL MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 67
5.2.1 DRIVERS 68
5.2.1.1 High demand for EVs with launch of effective campaigns 68
FIGURE 23 FUEL CELL ELECTRIC VEHICLE STOCK, BY COUNTRY, 2021 68
5.2.1.2 Reliance on renewable energy to ensure uninterrupted power supply 69
5.2.1.3 Quicker refueling time of FCEVs than BEVs 69
5.2.2 RESTRAINTS 69
5.2.2.1 High costs of platinum catalyst for fuel cells 69
5.2.2.2 Significant initial investments in hydrogen infrastructure 70
5.2.3 OPPORTUNITIES 70
5.2.3.1 Increasing generation of distributed power using low-carbon fuels 70
5.2.3.2 Rising adoption of strategies to achieve net-zero carbon emissions 70
TABLE 2 FUEL CELL MARKET: POLICIES TO STIMULATE HYDROGEN USE IN MAJOR ECONOMIES 71
5.2.4 CHALLENGES 72
5.2.4.1 High preference for battery electric vehicles over hydrogen vehicles 72
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 72
FIGURE 24 FUEL CELL MARKET: TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 72
5.4 PRICING ANALYSIS 73
5.4.1 AVERAGE SELLING PRICE TREND, BY REGION 73
TABLE 3 AVERAGE SELLING PRICE TREND, BY REGION, 2018–2022 73
5.4.2 INDICATIVE PRICING ANALYSIS, BY COMPONENT 73
TABLE 4 COST SUMMARY FOR PROTON EXCHANGE MEMBRANE (PEM) STACK COMPONENT, 2018–2022 (USD) 73
TABLE 5 COST SUMMARY FOR PEM BALANCE OF PLANT (BOP), 2018–2022 (USD) 74
TABLE 6 COST SUMMARY FOR 80-KW FUEL CELL VEHICLES, 2018–2025 (USD) 74
TABLE 7 COST SUMMARY FOR 160-KW MEDIUM-DUTY FUEL CELL VEHICLES, 2018–2025 (USD) 75
5.4.3 INDICATIVE PRICING ANALYSIS, BY TYPE 75
TABLE 8 INDICATIVE PRICING ANALYSIS, BY TYPE, 2018–2022 75
5.5 SUPPLY CHAIN ANALYSIS 75
FIGURE 25 FUEL CELL MARKET: SUPPLY CHAIN ANALYSIS 76
5.5.1 RAW MATERIAL SUPPLIERS 76
5.5.2 COMPONENT MANUFACTURERS 76

5.5.3 SYSTEM MANUFACTURERS/ASSEMBLERS 76
5.5.4 DISTRIBUTORS/END USERS 76
5.6 ECOSYSTEM/MARKET MAP 77
FIGURE 26 FUEL CELL MARKET MAPPING 77
TABLE 9 FUEL CELL MARKET: COMPANIES AND THEIR ROLES IN FUEL CELL ECOSYSTEM 77
FIGURE 27 COMPANIES IN FUEL CELL ECOSYSTEM 78
5.7 REGULATORY LANDSCAPE 79
5.7.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 79
TABLE 10 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 79
TABLE 11 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 79
TABLE 12 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 80
TABLE 13 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 80
5.7.2 REGULATORY FRAMEWORKS 81
5.7.2.1 Regulatory frameworks in North America 81
5.7.2.2 Regulatory frameworks in Europe 81
5.7.2.3 Regulatory frameworks in Asia Pacific 82
5.7.2.4 Regulatory frameworks in RoW 82
5.8 PATENT ANALYSIS 83
FIGURE 28 FUEL CELL MARKET: PATENTS APPLIED AND GRANTED, 2012–2022 83
TABLE 14 FUEL CELL MARKET: LIST OF MAJOR PATENTS, 2018–2022 83
5.9 CASE STUDY ANALYSIS 85
5.9.1 SOUTHERN LINC ADOPTS PLUG POWER’S GENSURE FUEL CELL SOLUTION TO GENERATE BACKUP POWER 85
5.9.2 SAMSUNG HEAVY INDUSTRIES AND BLOOM ENERGY JOIN HANDS TO DEVELOP EFFICIENT FUEL-CELL SHIPS 85
5.9.3 CONVION USES ELCOGEN’S SOFC AND STACK TECHNOLOGY TO FIND RELIABLE ALTERNATIVE FUEL SOURCES 86
5.10 TECHNOLOGY ANALYSIS 86
5.10.1 REVERSIBLE FUEL CELLS 87
5.10.2 ANION-EXCHANGE MEMBRANE FUEL CELLS 87
5.11 KEY CONFERENCES AND EVENTS, 2023–2024 87
TABLE 15 FUEL CELL MARKET: LIST OF CONFERENCES AND EVENTS, 2023–2024 87
5.12 TRADE ANALYSIS 89
5.12.1 EXPORT SCENARIO 89
TABLE 16 EXPORT DATA FOR HS CODE 280410-COMPLIANT HYDROGEN, BY COUNTRY, 2020–2022 (USD THOUSAND) 89
FIGURE 29 EXPORT DATA FOR HS CODE 280410-COMPLIANT HYDROGEN, BY COUNTRY, 2020–2022 (USD THOUSAND) 89

5.12.2 IMPORT SCENARIO 90
TABLE 17 IMPORT DATA FOR HS CODE 280410-COMPLIANT HYDROGEN, BY COUNTRY, 2020–2022 (USD THOUSAND) 90
FIGURE 30 IMPORT DATA FOR HS CODE 280410-COMPLIANT HYDROGEN, BY COUNTRY, 2020–2022 (USD THOUSAND) 90
5.13 PORTER’S FIVE FORCES ANALYSIS 91
FIGURE 31 FUEL CELL MARKET: PORTER’S FIVE FORCES ANALYSIS 91
TABLE 18 FUEL CELL MARKET: PORTER’S FIVE FORCES ANALYSIS 91
5.13.1 THREAT OF SUBSTITUTES 92
5.13.2 BARGAINING POWER OF SUPPLIERS 92
5.13.3 BARGAINING POWER OF BUYERS 92
5.13.4 THREAT OF NEW ENTRANTS 92
5.13.5 INTENSITY OF COMPETITIVE RIVALRY 92
5.14 KEY STAKEHOLDERS AND BUYING CRITERIA 93
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS 93
FIGURE 32 FUEL CELL MARKET: INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 END USERS 93
TABLE 19 FUEL CELL MARKET: INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 END USERS (%) 93
5.14.2 BUYING CRITERIA 93
FIGURE 33 FUEL CELL MARKET: KEY BUYING CRITERIA FOR TOP 3 END USERS 93
TABLE 20 FUEL CELL MARKET: KEY BUYING CRITERIA FOR TOP 3 END USERS 94
6 FUEL CELL MARKET, BY SIZE 95
6.1 INTRODUCTION 96
FIGURE 34 FUEL CELL MARKET, BY SIZE, 2022 96
TABLE 21 FUEL CELL MARKET, BY SIZE, 2018–2022 (USD MILLION) 96
TABLE 22 FUEL CELL MARKET, BY SIZE, 2023–2028 (USD MILLION) 96
6.2 SMALL-SCALE (UP TO 200 KW) 97
6.2.1 INCREASING INCENTIVES FOR EXTENSIVE DEPLOYMENT OF ELECTRIC VEHICLES TO BOOST SEGMENTAL GROWTH 97
TABLE 23 SMALL-SCALE (UP TO 200 KW): FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 97
TABLE 24 SMALL-SCALE (UP TO 200 KW): FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 98
6.3 LARGE-SCALE (ABOVE 200 KW) 98
6.3.1 RISING EMPHASIS ON REDUCING GREENHOUSE GAS EMISSIONS AND DEVELOPING ALL-RENEWABLE ELECTRIC GRID TO DRIVE MARKET 98
TABLE 25 LARGE-SCALE (ABOVE 200 KW): FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 99
TABLE 26 LARGE-SCALE (ABOVE 200 KW): FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 99

7 FUEL CELL MARKET, BY FUEL TYPE 100
7.1 INTRODUCTION 101
FIGURE 35 HYDROGEN FUEL CELLS ACCOUNTED FOR LARGEST MARKET SHARE IN 2022 101
TABLE 27 FUEL CELL MARKET, BY FUEL TYPE, 2018–2022 (USD MILLION) 101
TABLE 28 FUEL CELL MARKET, BY FUEL TYPE, 2023–2028 (USD MILLION) 101
7.2 HYDROGEN 102
7.2.1 ABILITY TO PROVIDE LONG-LASTING POWER TO BOOST ADOPTION 102
7.3 METHANOL 102
7.3.1 HIGH ENERGY DENSITY AND GREATER POWER OUTPUT TO FUEL DEMAND 102
7.4 AMMONIA 102
7.4.1 USE OF AMMONIA AS HYDROGEN CARRIER TO ACCELERATE SEGMENTAL GROWTH 102
7.5 OTHER FUEL TYPES 103
8 FUEL CELL MARKET, BY TYPE 104
8.1 INTRODUCTION 105
FIGURE 36 SOLID OXIDE FUEL CELLS (SOFC) HELD LARGEST MARKET SHARE IN 2022 105
TABLE 29 FUEL CELL MARKET, BY TYPE, 2018–2022 (MW) 105
TABLE 30 FUEL CELL MARKET, BY TYPE, 2023–2028 (MW) 106
TABLE 31 FUEL CELL MARKET, BY TYPE, 2018–2022 (USD MILLION) 106
TABLE 32 FUEL CELL MARKET, BY TYPE, 2023–2028 (USD MILLION) 106
8.2 PROTON-EXCHANGE MEMBRANE FUEL CELLS (PEMFCS) 107
8.2.1 USE OF PROTON-EXCHANGE MEMBRANE FUEL CELLS TO SUPPLY ELECTRICITY TO RESIDENTIAL BUILDINGS TO DRIVE MARKET 107
TABLE 33 PROTON-EXCHANGE MEMBRANE FUEL CELLS (PEMFCS): FUEL CELL MARKET, BY REGION, 2018–2022 (MW) 107
TABLE 34 PROTON-EXCHANGE MEMBRANE FUEL CELLS (PEMFCS): FUEL CELL MARKET, BY REGION, 2023–2028 (MW) 107
TABLE 35 PROTON-EXCHANGE MEMBRANE FUEL CELLS (PEMFCS): FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 108
TABLE 36 PROTON-EXCHANGE MEMBRANE FUEL CELLS (PEMFCS): FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 108
8.3 SOLID OXIDE FUEL CELLS (SOFCS) 108
8.3.1 REQUIREMENT FOR ENERGY-EFFICIENT POWER GENERATION TO AUGMENT SEGMENTAL GROWTH 108
TABLE 37 SOLID OXIDE FUEL CELLS (SOFCS): FUEL CELL MARKET, BY REGION, 2018–2022 (MW) 109
TABLE 38 SOLID OXIDE FUEL CELLS (SOFCS): FUEL CELL MARKET, BY REGION, 2023–2028 (MW) 109
TABLE 39 SOLID OXIDE FUEL CELLS (SOFCS): FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 109
TABLE 40 SOLID OXIDE FUEL CELLS (SOFCS): FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 110

8.4 PHOSPHORIC ACID FUEL CELLS (PAFCS) 110
8.4.1 ADOPTION OF PHOSPHORIC ACID FUEL CELLS IN CO-GENERATION OF POWER AND HEAT TO BOOST SEGMENTAL GROWTH 110
TABLE 41 PHOSPHORIC ACID FUEL CELLS (PAFCS): FUEL CELL MARKET, BY REGION, 2018–2022 (MW) 110
TABLE 42 PHOSPHORIC ACID FUEL CELLS (PAFCS): FUEL CELL MARKET, BY REGION, 2023–2028 (MW) 111
TABLE 43 PHOSPHORIC ACID FUEL CELLS (PAFCS): FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 111
TABLE 44 PHOSPHORIC ACID FUEL CELLS (PAFCS): FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 111
8.5 ALKALINE FUEL CELLS (AFCS) 112
8.5.1 IMPLEMENTATION OF ALKALINE FUEL CELLS IN TRANSPORT AND AEROSPACE APPLICATIONS TO ACCELERATE MARKET GROWTH 112
TABLE 45 ALKALINE FUEL CELLS (AFCS): FUEL CELL MARKET, BY REGION, 2018–2022 (MW) 112
TABLE 46 ALKALINE FUEL CELLS (AFCS): FUEL CELL MARKET, BY REGION, 2023–2028 (MW) 112
TABLE 47 ALKALINE FUEL CELLS (AFCS): FUEL CELL MARKET, BY REGION, 2018–2022 (USD THOUSAND) 113
TABLE 48 ALKALINE FUEL CELLS (AFCS): FUEL CELL MARKET, BY REGION, 2023–2028 (USD THOUSAND) 113
8.6 MICROBIAL FUEL CELLS (MFCS) 113
8.6.1 USE OF MICROBES FUEL CELLS TO FULFILL POWER DEMAND IN URBAN WASTEWATER TREATMENT FACILITIES TO DRIVE MARKET 113
TABLE 49 MICROBIAL FUEL CELLS (MFCS) MARKET: FUEL CELL MARKET, BY REGION, 2019–2027 (MW) 114
TABLE 50 MICROBIAL FUEL CELLS (MFCS) MARKET: FUEL CELL MARKET, BY REGION, 2023–2028 (MW) 114
TABLE 51 MICROBIAL FUEL CELLS (MFCS) MARKET: FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 114
TABLE 52 MICROBIAL FUEL CELLS (MFCS) MARKET: FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 115
8.7 DIRECT METHANOL FUEL CELLS (DMFCS) 115
8.7.1 LOW COSTS AND HIGH ENERGY DENSITY OF METHANOL TO CONTRIBUTE TO SEGMENTAL GROWTH 115
TABLE 53 DIRECT METHANOL FUEL CELLS (DMFCS): FUEL CELL MARKET, BY REGION, 2018–2022 (MW) 115
TABLE 54 DIRECT METHANOL FUEL CELLS (DMFCS): FUEL CELL MARKET, BY REGION, 2023–2028 (MW) 116
TABLE 55 DIRECT METHANOL FUEL CELLS (DMFCS): FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 116
TABLE 56 DIRECT METHANOL FUEL CELLS (DMFCS): FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 116
8.8 OTHER TYPES 117

9 FUEL CELL MARKET, BY COMPONENT 118
9.1 INTRODUCTION 119
FIGURE 37 BALANCE OF PLANT (BOP) COMPONENTS HELD LARGER SHARE OF FUEL CELL MARKET IN 2022 119
TABLE 57 FUEL CELL MARKET, BY COMPONENT, 2018–2022 (USD MILLION) 119
TABLE 58 FUEL CELL MARKET, BY COMPONENT, 2020–2028 (USD MILLION) 119
9.2 STACK 120
9.2.1 HIGH ENERGY CONVERSION EFFICIENCY AND LOW EMISSIONS TO BOOST ADOPTION OF FUEL CELL STACKS 120
TABLE 59 STACK: FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 120
TABLE 60 STACK: FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 120
9.2.2 CELLS 121
9.2.3 INTERCONNECTS 121
9.2.4 END PLATES 121
9.2.5 SEALANTS 121
9.2.6 OTHER STACK COMPONENTS 121
9.3 BALANCE OF PLANT (BOP) 122
9.3.1 USE OF BOP COMPONENTS FOR EFFICIENT POWER GENERATION TO CONTRIBUTE TO MARKET GROWTH 122
TABLE 61 BALANCE OF PLANT (BOP): FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 122
TABLE 62 BALANCE OF PLANT (BOP): FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 122
9.3.2 HEAT TRANSFER COMPONENTS 123
9.3.3 POWER ELECTRONICS & CONTROL SYSTEMS 123
9.3.4 INSTRUMENTS & SENSORS 123
9.3.5 FUEL REFORMERS/DESULFURIZERS 123
9.3.6 OTHER BOP COMPONENTS 123
10 FUEL CELL MARKET, BY APPLICATION 124
10.1 INTRODUCTION 125
FIGURE 38 FUEL CELL MARKET SHARE, BY APPLICATION, 2022 125
TABLE 63 FUEL CELL MARKET: BY APPLICATION, 2018–2022 (USD MILLION) 125
TABLE 64 FUEL CELL MARKET: BY APPLICATION, 2023–2028 (USD MILLION) 126
10.2 PORTABLE 126
10.2.1 RISING PREFERENCE FOR ENERGY-EFFICIENT PORTABLE FUEL CELLS OVER INTERNAL COMBUSTION ENGINES TO DRIVE MARKET 126
TABLE 65 PORTABLE: FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 127
TABLE 66 PORTABLE: FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 127
10.3 STATIONARY 127
TABLE 67 STATIONARY: FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 128
TABLE 68 STATIONARY: FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 128
TABLE 69 STATIONARY: FUEL CELL MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 129
TABLE 70 STATIONARY: FUEL CELL MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 129
10.3.1 PRIMARY 129
10.3.1.1 Adoption of stationary fuel cells in electrical substations to contribute to segmental growth 129
TABLE 71 PRIMARY: FUEL CELL MARKET FOR STATIONARY, BY REGION, 2018–2022 (USD MILLION) 130
TABLE 72 PRIMARY: FUEL CELL MARKET FOR STATIONARY, BY REGION, 2023–2028 (USD MILLION) 130
10.3.2 BACKUP 130
10.3.2.1 Utilization of fuel cells for backup power generation in data centers during grid outages to fuel segmental growth 130
TABLE 73 BACKUP: FUEL CELL MARKET FOR STATIONARY, BY REGION, 2018–2022 (USD MILLION) 131
TABLE 74 BACKUP: FUEL CELL MARKET FOR STATIONARY: BY REGION, 2023–2028 (USD MILLION) 131
10.3.3 COMBINED HEAT & POWER (CHP) 131
10.3.3.1 Employment of combined heat & power fuel cell units in residential applications to augment segmental growth 131
TABLE 75 COMBINED HEAT & POWER: FUEL CELL MARKET FOR STATIONARY, BY REGION, 2018–2022 (USD MILLION) 132
TABLE 76 COMBINED HEAT & POWER: FUEL CELL MARKET FOR STATIONARY, BY REGION, 2023–2028 (USD MILLION) 132
10.4 FUEL CELL VEHICLES 132
TABLE 77 FUEL CELL VEHICLES: FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 134
TABLE 78 FUEL CELL VEHICLES: FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 134
TABLE 79 FUEL CELL VEHICLES: FUEL CELL MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 135
TABLE 80 FUEL CELL VEHICLES: FUEL CELL MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 135
10.4.1 PASSENGER LIGHT-DUTY FUEL CELL VEHICLES 135
10.4.1.1 Surging demand for personal mobility and stringent regulations on GHG emissions to accelerate segmental growth 135
TABLE 81 PASSENGER LIGHT-DUTY FUEL CELL VEHICLES: FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 136
TABLE 82 PASSENGER LIGHT-DUTY FUEL CELL VEHICLES: FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 136
10.4.2 FUEL CELL BUSES 137
10.4.2.1 Rising adoption of fuel cell buses for public transport to support segmental growth 137
TABLE 83 FUEL CELL BUSES: FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 137
TABLE 84 FUEL CELL BUSES: FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 137

10.4.3 FUEL CELL TRUCKS 138
10.4.3.1 Increasing use of fuel cell trucks for long-range transportation to drive market 138
TABLE 85 FUEL CELL TRUCKS: FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 138
TABLE 86 FUEL CELL TRUCKS: FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 138
10.4.4 OTHER FUEL CELL VEHICLES 139
10.4.4.1 Rising emphasis on developing fuel cells for marine applications to propel market 139
TABLE 87 OTHER FUEL CELL VEHICLES: FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 140
TABLE 88 OTHER FUEL CELL VEHICLES: FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 140
11 FUEL CELL MARKET, BY END USER 141
11.1 INTRODUCTION 142
FIGURE 39 FUEL CELL MARKET SHARE, BY END USER, 2022 142
TABLE 89 FUEL CELL MARKET, BY END USER, 2018–2022 (USD MILLION) 142
TABLE 90 FUEL CELL MARKET, BY END USER, 2023–2028 (USD MILLION) 143
11.2 RESIDENTIAL 143
11.2.1 SURGING DEMAND FOR ENERGY IN RESIDENTIAL BUILDINGS FOR SPACE HEATING AND COOLING TO FUEL SEGMENTAL GROWTH 143
TABLE 91 RESIDENTIAL: FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 144
TABLE 92 RESIDENTIAL: FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 144
11.3 COMMERCIAL & INDUSTRIAL 144
11.3.1 LAUNCH OF DECARBONIZATION PROJECTS TO CONTRIBUTE TO SEGMENTAL GROWTH 144
TABLE 93 COMMERCIAL & INDUSTRIAL: FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 145
TABLE 94 COMMERCIAL & INDUSTRIAL: FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 145
11.4 TRANSPORTATION 145
11.4.1 STRONG FOCUS ON EXTENDING DRIVING RANGE OF ELECTRIC VEHICLES TO FUEL SEGMENTAL GROWTH 145
TABLE 95 TRANSPORTATION: FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 146
TABLE 96 TRANSPORTATION: FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 146
11.5 DATA CENTERS 147
11.5.1 RISING FOCUS ON REDUCING CARBON EMISSIONS FROM DATA CENTERS TO DRIVE MARKET 147
TABLE 97 DATA CENTERS: FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 147
TABLE 98 DATA CENTERS: FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 148

11.6 MILITARY & DEFENSE 148
11.6.1 ESCALATING ADOPTION OF PORTABLE FUEL CELLS AS POWER SOURCE FOR MILITARY & DEFENSE OPERATIONS TO FOSTER SEGMENTAL GROWTH 148
TABLE 99 MILITARY & DEFENSE: FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 148
TABLE 100 MILITARY & DEFENSE: FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 149
11.7 UTILITIES & GOVERNMENT/MUNICIPAL INSTITUTES 149
11.7.1 STRINGENT LAWS BY REGIONAL AUTHORITIES AND DECARBONIZING GOALS TO DRIVE MARKET 149
TABLE 101 UTILITIES & GOVERNMENT/MUNICIPAL INSTITUTES: FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 149
TABLE 102 UTILITIES & GOVERNMENT/MUNICIPAL INSTITUTES: FUEL CELL MARKET, BY REGION, 2023–2028 (USD MILLION) 150
12 FUEL CELL MARKET, BY REGION 151
12.1 INTRODUCTION 152
FIGURE 40 EUROPE TO EXHIBIT HIGHEST CAGR IN FUEL CELL MARKET FROM 2023 TO 2028 152
FIGURE 41 FUEL CELL MARKET SHARE, BY REGION, 2022 152
TABLE 103 FUEL CELL MARKET, BY REGION, 2018–2022 (MW) 153
TABLE 104 FUEL CELL MARKET, BY REGION, 2023–2028 (MW) 153
TABLE 105 FUEL CELL MARKET, BY REGION, 2018–2022 (USD MILLION) 153
TABLE 106 FUEL CELL MARKET, BY REGION, 2020–2028 (USD MILLION) 154
12.2 ASIA PACIFIC 154
FIGURE 42 ASIA PACIFIC: FUEL CELL MARKET SNAPSHOT 155
12.2.1 RECESSION IMPACT ON MARKET IN ASIA PACIFIC 155
TABLE 107 ASIA PACIFIC: FUEL CELL MARKET, BY TYPE, 2018–2022 (MW) 156
TABLE 108 ASIA PACIFIC: FUEL CELL MARKET, BY TYPE, 2023–2028 (MW) 156
TABLE 109 ASIA PACIFIC: FUEL CELL MARKET, BY TYPE, 2018–2022 (USD MILLION) 156
TABLE 110 ASIA PACIFIC: FUEL CELL MARKET, BY TYPE, 2023–2028 (USD MILLION) 157
TABLE 111 ASIA PACIFIC: FUEL CELL MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 157
TABLE 112 ASIA PACIFIC: FUEL CELL MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 157
TABLE 113 ASIA PACIFIC: FUEL CELL MARKET, BY STATIONARY APPLICATION, 2018–2022 (USD MILLION) 158
TABLE 114 ASIA PACIFIC: FUEL CELL MARKET, BY STATIONARY APPLICATION, 2023–2028 (USD MILLION) 158
TABLE 115 ASIA PACIFIC: FUEL CELL MARKET, BY FUEL CELL VEHICLE APPLICATION, 2018–2022 (USD MILLION) 158
TABLE 116 ASIA PACIFIC: FUEL CELL MARKET, BY FUEL CELL VEHICLE APPLICATION, 2023–2028 (USD MILLION) 159
TABLE 117 ASIA PACIFIC: FUEL CELL MARKET, BY END USER, 2018–2022 (USD MILLION) 159
TABLE 118 ASIA PACIFIC: FUEL CELL MARKET, BY END USER, 2023–2028 (USD MILLION) 159
TABLE 119 ASIA PACIFIC: FUELL CELL MARKET, BY SIZE, 2018–2022 (USD MILLION) 160
TABLE 120 ASIA PACIFIC: FUELL CELL MARKET, BY SIZE, 2023–2028 (USD MILLION) 160
TABLE 121 ASIA PACIFIC: FUELL CELL MARKET, BY COUNTRY, 2018–2022 (MW) 160
TABLE 122 ASIA PACIFIC: FUELL CELL MARKET, BY COUNTRY, 2023–2028 (MW) 160
TABLE 123 ASIA PACIFIC: FUELL CELL MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 161
TABLE 124 ASIA PACIFIC: FUELL CELL MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 161
12.2.2 CHINA 161
12.2.2.1 Shift from fossil fuels to renewable energy sources to contribute to market growth 161
TABLE 125 CHINA: FUEL CELL MARKET, BY TYPE, 2018–2022 (MW) 162
TABLE 126 CHINA: FUEL CELL MARKET, BY TYPE, 2023–2028 (MW) 162
TABLE 127 CHINA: FUEL CELL MARKET, BY TYPE, 2018–2022 (USD MILLION) 162
TABLE 128 CHINA: FUEL CELL MARKET, BY TYPE, 2023–2028 (USD MILLION) 163
TABLE 129 CHINA: FUEL CELL MARKET, BY SIZE, 2018–2022 (USD MILLION) 163
TABLE 130 CHINA: FUEL CELL MARKET, BY SIZE, 2023–2028 (USD MILLION) 163
TABLE 131 CHINA: FUEL CELL MARKET, BY END USER, 2018–2022 (USD MILLION) 164
TABLE 132 CHINA: FUEL CELL MARKET, BY END USER, 2023–2028 (USD MILLION) 164
TABLE 133 CHINA: FUEL CELL MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 164
TABLE 134 CHINA: FUEL CELL MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 165
12.2.3 JAPAN 165
12.2.3.1 Government initiatives to increase deployment of hydrogen refueling stations to augment demand for fuel cells 165
TABLE 135 JAPAN: FUEL CELL MARKET, BY TYPE, 2018–2022 (MW) 165
TABLE 136 JAPAN: FUEL CELL MARKET, BY TYPE, 2023–2028 (MW) 166
TABLE 137 JAPAN: FUEL CELL MARKET, BY TYPE, 2018–2022 (USD MILLION) 166
TABLE 138 JAPAN: FUEL CELL MARKET, BY TYPE, 2023–2028 (USD MILLION) 167
TABLE 139 JAPAN: FUEL CELL MARKET, BY SIZE, 2018–2022 (USD MILLION) 167
TABLE 140 JAPAN: FUEL CELL MARKET, BY SIZE, 2023–2028 (USD MILLION) 167
TABLE 141 JAPAN: FUEL CELL MARKET, BY END USER, 2018–2022 (USD MILLION) 168
TABLE 142 JAPAN: FUEL CELL MARKET, BY END USER, 2023–2028 (USD MILLION) 168
TABLE 143 JAPAN: FUEL CELL MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 168
TABLE 144 JAPAN: FUEL CELL MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 169
12.2.4 SOUTH KOREA 169
12.2.4.1 Issuance of stringent rules to mitigate GHG emissions to accelerate market growth 169
TABLE 145 SOUTH KOREA: FUEL CELL MARKET, BY TYPE, 2018–2022 (KW) 169
TABLE 146 SOUTH KOREA: FUEL CELL MARKET, BY TYPE, 2023–2028 (KW) 170
TABLE 147 SOUTH KOREA: FUEL CELL MARKET, BY TYPE, 2018–2022 (USD MILLION) 170
TABLE 148 SOUTH KOREA: FUEL CELL MARKET, BY TYPE, 2023–2028 (USD MILLION) 170
TABLE 149 SOUTH KOREA: FUEL CELL MARKET, BY SIZE, 2018–2022 (USD MILLION) 171
TABLE 150 SOUTH KOREA: FUEL CELL MARKET, BY SIZE, 2023–2028 (USD MILLION) 171
TABLE 151 SOUTH KOREA: FUEL CELL MARKET, BY END USER, 2018–2022 (USD MILLION) 171
TABLE 152 SOUTH KOREA: FUEL CELL MARKET, BY END USER, 2023–2028 (USD MILLION) 172
TABLE 153 SOUTH KOREA: FUEL CELL MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 172
TABLE 154 SOUTH KOREA: FUEL CELL MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 172
12.2.5 REST OF ASIA PACIFIC 173
TABLE 155 REST OF ASIA PACIFIC: FUEL CELL MARKET, BY TYPE, 2018–2022 (KW) 173
TABLE 156 REST OF ASIA PACIFIC: FUEL CELL MARKET, BY TYPE, 2023–2028 (KW) 174
TABLE 157 REST OF ASIA PACIFIC: FUEL CELL MARKET, BY TYPE, 2018–2022 (USD MILLION) 174
TABLE 158 REST OF ASIA PACIFIC: FUEL CELL MARKET, BY TYPE, 2023–2028 (USD MILLION) 174
TABLE 159 REST OF ASIA PACIFIC: FUEL CELL MARKET, BY SIZE, 2018–2022 (USD MILLION) 175
TABLE 160 REST OF ASIA PACIFIC: FUEL CELL MARKET, BY SIZE, 2023–2028 (USD MILLION) 175
TABLE 161 REST OF ASIA PACIFIC: FUEL CELL MARKET, BY END USER, 2018–2022 (USD MILLION) 175
TABLE 162 REST OF ASIA PACIFIC: FUEL CELL MARKET, BY END USER, 2023–2028 (USD MILLION) 176
TABLE 163 REST OF ASIA PACIFIC: FUEL CELL MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 176
TABLE 164 REST OF ASIA PACIFIC: FUEL CELL MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 176
12.3 NORTH AMERICA 177
12.3.1 RECESSION IMPACT ON MARKET IN NORTH AMERICA 177
FIGURE 43 NORTH AMERICA: FUEL CELL MARKET SNAPSHOT 178
TABLE 165 NORTH AMERICA: FUEL CELL MARKET, BY TYPE, 2018–2022 (MW) 178
TABLE 166 NORTH AMERICA: FUEL CELL MARKET, BY TYPE, 2023–2028 (MW) 179
TABLE 167 NORTH AMERICA: FUEL CELL MARKET, BY TYPE, 2018–2022 (USD MILLION) 179
TABLE 168 NORTH AMERICA: FUEL CELL MARKET, BY TYPE, 2023–2028 (USD MILLION) 179
TABLE 169 NORTH AMERICA: FUEL CELL MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 180
TABLE 170 NORTH AMERICA: FUEL CELL MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 180
TABLE 171 NORTH AMERICA: FUEL CELL MARKET, BY STATIONARY APPLICATION, 2018–2022 (USD MILLION) 180
TABLE 172 NORTH AMERICA: FUEL CELL MARKET, BY STATIONARY APPLICATION, 2023–2028 (USD MILLION) 180
TABLE 173 NORTH AMERICA: FUEL CELL MARKET, BY FUEL CELL VEHICLE APPLICATION, 2018–2022 (USD MILLION) 181
TABLE 174 NORTH AMERICA: FUEL CELL MARKET, BY FUEL CELL VEHICLE APPLICATION, 2023–2028 (USD MILLION) 181
TABLE 175 NORTH AMERICA: FUEL CELL MARKET, BY END USER, 2018–2022 (USD MILLION) 181
TABLE 176 NORTH AMERICA: FUEL CELL MARKET, BY END USER, 2023–2028 (USD MILLION) 182
TABLE 177 NORTH AMERICA: FUEL CELL MARKET, BY SIZE, 2018–2022 (USD MILLION) 182
TABLE 178 NORTH AMERICA: FUEL CELL MARKET, BY SIZE, 2023–2028 (USD MILLION) 182
TABLE 179 NORTH AMERICA: FUEL CELL MARKET, BY COUNTRY, 2018–2022 (MW) 182
TABLE 180 NORTH AMERICA: FUEL CELL MARKET, BY COUNTRY, 2023–2028 (MW) 183
TABLE 181 NORTH AMERICA: FUEL CELL MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 183
TABLE 182 NORTH AMERICA: FUEL CELL MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 183
12.3.2 US 183
12.3.2.1 Rising emphasis on hydrogen integration to generate clean electricity to propel market 183
TABLE 183 US: FUEL CELL MARKET, BY TYPE, 2018–2022 (MW) 184
TABLE 184 US: FUEL CELL MARKET, BY TYPE, 2023–2028 (MW) 184
TABLE 185 US: FUEL CELL MARKET, BY TYPE, 2018–2022 (USD MILLION) 185
TABLE 186 US: FUEL CELL MARKET, BY TYPE, 2023–2028 (USD MILLION) 185
TABLE 187 US: FUEL CELL MARKET, BY SIZE, 2018–2022 (USD MILLION) 185
TABLE 188 US: FUEL CELL MARKET, BY SIZE, 2023–2028 (USD MILLION) 186
TABLE 189 US: FUEL CELL MARKET, BY END USER, 2018–2022 (USD MILLION) 186
TABLE 190 US: FUEL CELL MARKET, BY END USER, 2023–2028 (USD MILLION) 186
TABLE 191 US: FUEL CELL MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 187
TABLE 192 US: FUEL CELL MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 187
12.3.3 CANADA 187
12.3.3.1 Favorable government policies to develop low-cost fuel cell technologies to fuel market growth 187
TABLE 193 CANADA: FUEL CELL MARKET, BY TYPE, 2018–2022 (MW) 188
TABLE 194 CANADA: FUEL CELL MARKET, BY TYPE, 2023–2028 (MW) 188
TABLE 195 CANADA: FUEL CELL MARKET, BY TYPE, 2018–2022 (USD THOUSAND) 188
TABLE 196 CANADA: FUEL CELL MARKET, BY TYPE, 2023–2028 (USD THOUSAND) 189
TABLE 197 CANADA: FUEL CELL MARKET, BY SIZE, 2018–2022 (USD MILLION) 189
TABLE 198 CANADA: FUEL CELL MARKET, BY SIZE, 2023–2028 (USD MILLION) 189
TABLE 199 CANADA: FUEL CELL MARKET, BY END USER, 2018–2022 (USD MILLION) 190
TABLE 200 CANADA: FUEL CELL MARKET, BY END USER, 2023–2028 (USD MILLION) 190
TABLE 201 CANADA: FUEL CELL MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 190
TABLE 202 CANADA: FUEL CELL MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 191

12.4 EUROPE 191
12.4.1 RECESSION IMPACT ON MARKET IN EUROPE 191
TABLE 203 EUROPE: FUEL CELL MARKET, BY TYPE, 2018–2022 (MW) 192
TABLE 204 EUROPE: FUEL CELL MARKET, BY TYPE, 2023–2028 (MW) 192
TABLE 205 EUROPE: FUEL CELL MARKET, BY TYPE, 2018–2022 (USD MILLION) 193
TABLE 206 EUROPE: FUEL CELL MARKET, BY TYPE, 2023–2028 (USD MILLION) 193
TABLE 207 EUROPE: FUEL CELL MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 193
TABLE 208 EUROPE: FUEL CELL MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 194
TABLE 209 EUROPE: FUEL CELL MARKET, BY STATIONARY APPLICATION, 2018–2022 (USD MILLION) 194
TABLE 210 EUROPE: FUEL CELL MARKET, BY STATIONARY APPLICATION, 2023–2028 (USD MILLION) 194
TABLE 211 EUROPE: FUEL CELL MARKET, BY FUEL CELL VEHICLE APPLICATION, 2018–2022 (USD MILLION) 194
TABLE 212 EUROPE: FUEL CELL MARKET, BY FUEL CELL VEHICLE APPLICATION, 2023–2028 (USD MILLION) 195
TABLE 213 EUROPE: FUEL CELL MARKET, BY END USER, 2018–2022 (USD MILLION) 195
TABLE 214 EUROPE: FUEL CELL MARKET, BY END USER, 2023–2028 (USD MILLION) 195
TABLE 215 EUROPE: FUEL CELL MARKET, BY SIZE, 2018–2022 (USD MILLION) 196
TABLE 216 EUROPE: FUEL CELL MARKET, BY SIZE, 2023–2028 (USD MILLION) 196
TABLE 217 EUROPE: FUEL CELL MARKET, BY COUNTRY, 2018–2022 (MW) 196
TABLE 218 EUROPE: FUEL CELL MARKET, BY COUNTRY, 2023–2028 (MW) 196
TABLE 219 EUROPE: FUEL CELL MARKET, BY COUNTRY, 2018–2022 (USD MILLION) 197
TABLE 220 EUROPE: FUEL CELL MARKET, BY COUNTRY, 2023–2028 (USD MILLION) 197
12.4.2 GERMANY 197
12.4.2.1 Expansion of hydrogen fueling stations to achieve carbon neutrality to foster market growth 197
TABLE 221 GERMANY: FUEL CELL MARKET, BY TYPE, 2018–2022 (KW) 198
TABLE 222 GERMANY: FUEL CELL MARKET, BY TYPE, 2023–2028 (KW) 198
TABLE 223 GERMANY: FUEL CELL MARKET, BY TYPE, 2018–2022 (USD THOUSAND) 198
TABLE 224 GERMANY: FUEL CELL MARKET, BY TYPE, 2023–2028 (USD THOUSAND) 199
TABLE 225 GERMANY: FUEL CELL MARKET, BY SIZE, 2018–2022 (USD MILLION) 199
TABLE 226 GERMANY: FUEL CELL MARKET, BY SIZE, 2023–2028 (USD MILLION) 199
TABLE 227 GERMANY: FUEL CELL MARKET, BY END USER, 2018–2022 (USD MILLION) 200
TABLE 228 GERMANY: FUEL CELL MARKET, BY END USER, 2023–2028 (USD MILLION) 200
TABLE 229 GERMANY: FUEL CELL MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 200
TABLE 230 GERMANY: FUEL CELL MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 201
12.4.3 UK 201
12.4.3.1 Enforcement of stringent regulations to develop low-emission vehicles to boost demand for fuel cell technologies 201
TABLE 231 UK: FUEL CELL MARKET, BY TYPE, 2018–2022 (KW) 201
TABLE 232 UK: FUEL CELL MARKET, BY TYPE, 2023–2028 (KW) 202
TABLE 233 UK: FUEL CELL MARKET, BY TYPE, 2018–2022 (USD THOUSAND) 202
TABLE 234 UK: FUEL CELL MARKET, BY TYPE, 2023–2028 (USD THOUSAND) 202
TABLE 235 UK: FUEL CELL MARKET, BY SIZE, 2018–2022 (USD MILLION) 203
TABLE 236 UK: FUEL CELL MARKET, BY SIZE, 2023–2028 (USD MILLION) 203
TABLE 237 UK: FUEL CELL MARKET, BY END USER, 2018–2022 (USD MILLION) 203
TABLE 238 UK: FUEL CELL MARKET, BY END USER, 2023–2028 (USD MILLION) 204
TABLE 239 UK: FUEL CELL MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 204
TABLE 240 UK: FUEL CELL MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 204

12.4.4 ITALY 205
12.4.4.1 Transition from coal to hydrogen fuels to decarbonize economy to drive market 205
TABLE 241 ITALY: FUEL CELL MARKET, BY TYPE, 2018–2022 (KW) 205
TABLE 242 ITALY: FUEL CELL MARKET, BY TYPE, 2023–2028 (KW) 205
TABLE 243 ITALY: FUEL CELL MARKET, BY TYPE, 2018–2022 (USD THOUSAND) 206
TABLE 244 ITALY: FUEL CELL MARKET, BY TYPE, 2023–2028 (USD THOUSAND) 206
TABLE 245 ITALY: FUEL CELL MARKET, BY SIZE, 2018–2022 (USD MILLION) 206
TABLE 246 ITALY: FUEL CELL MARKET, BY SIZE, 2023–2028 (USD MILLION) 207
TABLE 247 ITALY: FUEL CELL MARKET, BY END USER, 2018–2022 (USD MILLION) 207
TABLE 248 ITALY: FUEL CELL MARKET, BY END USER, 2023–2028 (USD MILLION) 207
TABLE 249 ITALY: FUEL CELL MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 208
TABLE 250 ITALY: FUEL CELL MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 208
12.4.5 REST OF EUROPE 208
TABLE 251 REST OF EUROPE: FUEL CELL MARKET, BY TYPE, 2018–2022 (KW) 209
TABLE 252 REST OF EUROPE: FUEL CELL MARKET, BY TYPE, 2023–2028 (KW) 209
TABLE 253 REST OF EUROPE: FUEL CELL MARKET, BY TYPE, 2018–2022 (USD THOUSAND) 209
TABLE 254 REST OF EUROPE: FUEL CELL MARKET, BY TYPE, 2023–2028 (USD THOUSAND) 210
TABLE 255 REST OF EUROPE: FUEL CELL MARKET, BY SIZE, 2018–2022 (USD MILLION) 210
TABLE 256 REST OF EUROPE: FUEL CELL MARKET, BY SIZE, 2023–2028 (USD MILLION) 210
TABLE 257 REST OF EUROPE: FUEL CELL MARKET, BY END USER, 2018–2022 (USD MILLION) 211
TABLE 258 REST OF EUROPE: FUEL CELL MARKET, BY END USER, 2023–2028 (USD MILLION) 211
TABLE 259 REST OF EUROPE: FUEL CELL MARKET, BY APPLICATION, 2018–2022 (USD MILLION) 211
TABLE 260 REST OF EUROPE: FUEL CELL MARKET, BY APPLICATION, 2023–2028 (USD MILLION) 212
12.5 ROW 212
12.5.1 RECESSION IMPACT ON MARKET IN ROW 212
TABLE 261 ROW: FUEL CELL MARKET, BY TYPE, 2018–2022 (KW) 213
TABLE 262 ROW: FUEL CELL MARKET, BY TYPE, 2023–20278 (KW) 213
TABLE 263 ROW: FUEL CELL MARKET, BY TYPE, 2018–2022 (USD THOUSAND) 213
TABLE 264 ROW: FUEL CELL MARKET, BY TYPE, 2023–2028 (USD THOUSAND) 214
TABLE 265 ROW: FUEL CELL MARKET, BY APPLICATION, 2018–2022 (USD THOUSAND) 214
TABLE 266 ROW: FUEL CELL MARKET, BY APPLICATION, 2023-2028 (USD THOUSAND) 214
TABLE 267 ROW: FUEL CELL MARKET, BY STATIONARY APPLICATION, 2018–2022 (USD THOUSAND) 215
TABLE 268 ROW: FUEL CELL MARKET, BY STATIONARY APPLICATION, 2023–2028 (USD THOUSAND) 215
TABLE 269 ROW: FUEL CELL MARKET, BY FUEL CELL VEHICLE APPLICATION, 2018–2022 (USD THOUSAND) 215
TABLE 270 ROW: FUEL CELL MARKET, BY FUEL CELL VEHICLE APPLICATION, 2023–2028 (USD THOUSAND) 216
TABLE 271 ROW: FUEL CELL MARKET, BY END USER, 2018–2022 (USD THOUSAND) 216
TABLE 272 ROW: FUEL CELL MARKET, BY END USER, 2023–2028 (USD THOUSAND) 216
TABLE 273 ROW: FUEL CELL MARKET, BY SIZE, 2018–2022 (USD THOUSAND) 217
TABLE 274 ROW: FUEL CELL MARKET, BY SIZE, 2023–2028 (USD THOUSAND) 217
12.5.2 LATIN AMERICA 217
12.5.2.1 Increasing research on hydrogen technology to boost market growth 217
12.5.3 MIDDLE EAST & AFRICA 218
12.5.3.1 Rising adoption of SOFCs as backup power source to accelerate market growth 218
13 COMPETITIVE LANDSCAPE 219
13.1 OVERVIEW 219
TABLE 275 FUEL CELL MARKET: STRATEGIES ADOPTED BY KEY PLAYERS, 2019–2023 219
13.2 MARKET SHARE ANALYSIS, 2022 220
TABLE 276 FUEL CELL MARKET: DEGREE OF COMPETITION 221
FIGURE 44 MARKET SHARE ANALYSIS OF TOP PLAYERS, 2022 221
13.3 MARKET EVALUATION FRAMEWORK 221
TABLE 277 FUEL CELL MARKET EVALUATION FRAMEWORK, 2019–2023 222
13.4 REVENUE ANALYSIS OF TOP 5 PLAYERS, 2018–2022 223
FIGURE 45 REVENUE ANALYSIS OF TOP 5 PLAYERS, 2018–2022 223
13.5 COMPANY EVALUATION MATRIX, 2022 224
13.5.1 STARS 224
13.5.2 EMERGING LEADERS 224
13.5.3 PERVASIVE PLAYERS 224
13.5.4 PARTICIPANTS 224
FIGURE 46 FUEL CELL MARKET: COMPANY EVALUATION MATRIX, 2022 225
13.5.5 COMPANY FOOTPRINT 225
TABLE 278 COMPANY END USER FOOTPRINT (23 KEY COMPANIES) 225
TABLE 279 COMPANY TYPE FOOTPRINT (23 KEY COMPANIES) 226
TABLE 280 COMPANY SIZE FOOTPRINT (23 KEY COMPANIES) 227
TABLE 281 COMPANY APPLICATION FOOTPRINT (23 KEY COMPANIES) 228
TABLE 282 COMPANY REGION FOOTPRINT (23 KEY COMPANIES) 229
TABLE 283 COMPANY OVERALL FOOTPRINT (23 KEY COMPANIES) 230
13.6 START-UP/SME EVALUATION MATRIX, 2022 231
13.6.1 PROGRESSIVE COMPANIES 231
13.6.2 RESPONSIVE COMPANIES 231
13.6.3 DYNAMIC COMPANIES 231
13.6.4 STARTING BLOCKS 231
FIGURE 47 FUEL CELL MARKET: START-UP/SME EVALUATION MATRIX, 2022 232

13.6.5 COMPETITIVE BENCHMARKING 233
TABLE 284 FUEL CELL MARKET: LIST OF KEY START-UPS/SMES 233
TABLE 285 COMPANY END USER FOOTPRINT: FUEL CELL MARKET START-UPS/SMES 233
TABLE 286 COMPANY TYPE FOOTPRINT: FUEL CELL MARKET START-UPS/SMES 234
TABLE 287 COMPANY SIZE FOOTPRINT: FUEL CELL MARKET START-UPS/SMES 234
TABLE 288 COMPANY APPLICATION FOOTPRINT: FUEL CELL MARKET START-UPS/SMES 234
TABLE 289 COMPANY REGION FOOTPRINT: FUEL CELL MARKET START-UPS/SMES 235
TABLE 290 OVERALL FOOTPRINT: FUEL CELL MARKET START-UPS/SMES 235
13.7 COMPETITIVE SCENARIOS AND TRENDS 236
13.7.1 DEALS 236
TABLE 291 FUEL CELL MARKET: DEALS, 2021–2023 236
13.7.2 OTHERS 237
TABLE 292 FUEL CELL MARKET: OTHERS, 2019–2023 237
14 COMPANY PROFILES 239
(Business overview, Products/Services/Solutions offered, Recent Developments, MNM view)*
14.1 KEY COMPANIES 239
14.1.1 BLOOM ENERGY 239
TABLE 293 BLOOM ENERGY: COMPANY OVERVIEW 239
FIGURE 48 BLOOM ENERGY: COMPANY SNAPSHOT 240
TABLE 294 BLOOM ENERGY: PRODUCTS/SERVICES/SOLUTIONS OFFERED 240
TABLE 295 BLOOM ENERGY: PRODUCT LAUNCHES 241
TABLE 296 BLOOM ENERGY: DEALS 241
14.1.2 PLUG POWER INC. 247
TABLE 297 PLUG POWER INC.: COMPANY OVERVIEW 247
FIGURE 49 PLUG POWER INC.: COMPANY SNAPSHOT 248
TABLE 298 PLUG POWER INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 248
TABLE 299 PLUG POWER INC.: PRODUCT LAUNCHES 249
TABLE 300 PLUG POWER INC.: DEALS 249
TABLE 301 PLUG POWER INC.: OTHERS 251
14.1.3 AISIN CORPORATION 253
TABLE 302 AISIN CORPORATION: COMPANY OVERVIEW 253
FIGURE 50 AISIN CORPORATION: COMPANY SNAPSHOT 254
TABLE 303 AISIN CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 254
TABLE 304 AISIN CORPORATION: DEALS 255
14.1.4 BALLARD POWER SYSTEMS 257
TABLE 305 BALLARD POWER SYSTEMS: COMPANY OVERVIEW 257
FIGURE 51 BALLARD POWER SYSTEMS: COMPANY SNAPSHOT 257
TABLE 306 BALLARD POWER SYSTEMS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 258
TABLE 307 BALLARD POWER SYSTEMS: PRODUCT LAUNCHES 258

TABLE 308 BALLARD POWER SYSTEMS: DEALS 259
TABLE 309 BALLARD POWER SYSTEMS: OTHERS 263
14.1.5 FUELCELL ENERGY, INC. 264
TABLE 310 FUELCELL ENERGY, INC.: COMPANY OVERVIEW 264
FIGURE 52 FUELCELL ENERGY, INC.: COMPANY SNAPSHOT 265
TABLE 311 FUELCELL ENERGY, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 265
TABLE 312 FUELCELL ENERGY, INC.: DEALS 266
TABLE 313 FUELCELL ENERGY, INC.: OTHERS 266
14.1.6 KYOCERA CORPORATION 267
TABLE 314 KYOCERA CORPORATION: COMPANY OVERVIEW 267
FIGURE 53 KYOCERA CORPORATION: COMPANY SNAPSHOT 268
TABLE 315 KYOCERA CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 268
TABLE 316 KYOCERA CORPORATION: OTHERS 269
14.1.7 DOOSAN FUEL CELL CO., LTD. 270
TABLE 317 DOOSAN FUEL CELL CO., LTD.: COMPANY OVERVIEW 270
FIGURE 54 DOOSAN FUEL CELL CO., LTD.: COMPANY SNAPSHOT 270
TABLE 318 DOOSAN FUEL CELL CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 271
TABLE 319 DOOSAN FUEL CELL CO., LTD.: DEALS 271
TABLE 320 DOOSAN FUEL CELL CO., LTD.: OTHERS 274
14.1.8 TECO 2030 275
TABLE 321 TECO 2030: COMPANY OVERVIEW 275
FIGURE 55 TECO 2030: COMPANY SNAPSHOT 275
TABLE 322 TECO 2030: PRODUCTS/SOLUTIONS/SERVICES OFFERED 276
TABLE 323 TECO 2030: PRODUCT LAUNCHES 276
TABLE 324 TECO 2030: DEALS 276
14.1.9 CUMMINS INC. 277
TABLE 325 CUMMINS INC.: COMPANY OVERVIEW 277
FIGURE 56 CUMMINS INC.: COMPANY SNAPSHOT 278
TABLE 326 CUMMINS INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 278
TABLE 327 CUMMINS INC.: DEALS 279
TABLE 328 CUMMINS INC.: OTHERS 280
14.1.10 MITSUBISHI HEAVY INDUSTRIES, LTD. 281
TABLE 329 MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY OVERVIEW 281
FIGURE 57 MITSUBISHI HEAVY INDUSTRIES, LTD.: COMPANY SNAPSHOT 282
TABLE 330 MITSUBISHI HEAVY INDUSTRIES, LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED 282
TABLE 331 MITSUBISHI HEAVY INDUSTRIES, LTD.: DEALS 283
14.1.11 TOSHIBA CORPORATION 284
TABLE 332 TOSHIBA CORPORATION: COMPANY OVERVIEW 284
FIGURE 58 TOSHIBA CORPORATION: COMPANY SNAPSHOT 285

TABLE 333 TOSHIBA CORPORATION: PRODUCTS/SERVICES/SOLUTIONS OFFERED 285
TABLE 334 TOSHIBA CORPORATION: DEALS 286
14.1.12 NEDSTACK FUEL CELL TECHNOLOGY BV 287
TABLE 335 NEDSTACK FUEL CELL TECHNOLOGY BV: COMPANY OVERVIEW 287
TABLE 336 NEDSTACK FUEL CELL TECHNOLOGY BV: PRODUCTS/SERVICES/SOLUTIONS OFFERED 287
TABLE 337 NEDSTACK FUEL CELL TECHNOLOGY BV: DEALS 288
14.1.13 ELRINGKLINGER AG 289
TABLE 338 ELRINGKLINGER AG: COMPANY OVERVIEW 289
FIGURE 59 ELRINGKLINGER AG: COMPANY SNAPSHOT 290
TABLE 339 ELRINGKLINGER AG: PRODUCTS/SERVICES/SOLUTIONS OFFERED 290
TABLE 340 ELRINGKLINGER AG: DEALS 291
14.1.14 POWERCELL SWEDEN AB 292
TABLE 341 POWERCELL SWEDEN AB: COMPANY OVERVIEW 292
FIGURE 60 POWERCELL SWEDEN AB: COMPANY SNAPSHOT 292
TABLE 342 POWERCELL SWEDEN AB: PRODUCTS/SERVICES/SOLUTIONS OFFERED 293
TABLE 343 POWERCELL SWEDEN AB: PRODUCT LAUNCHES 293
TABLE 344 POWERCELL SWEDEN AB: DEALS 294
TABLE 345 POWERCELL SWEDEN AB: OTHERS 295
14.1.15 SFC ENERGY AG 296
TABLE 346 SFC ENERGY AG: COMPANY OVERVIEW 296
FIGURE 61 SFC ENERGY AG: COMPANY SNAPSHOT 297
TABLE 347 SFC ENERGY AG: PRODUCTS/SERVICES/SOLUTIONS OFFERED 297
TABLE 348 SFC ENERGY AG: PRODUCT LAUNCHES 298
TABLE 349 SFC ENERGY AG: DEALS 298
14.1.16 AFC ENERGY 301
TABLE 350 AFC ENERGY: COMPANY OVERVIEW 301
FIGURE 62 AFC ENERGY: COMPANY SNAPSHOT 302
TABLE 351 AFC ENERGY: PRODUCTS/SERVICES/SOLUTIONS OFFERED 302
TABLE 352 AFC ENERGY: DEALS 302
TABLE 353 AFC ENERGY: OTHERS 303
14.1.17 FUJI ELECTRIC CO., LTD. 304
TABLE 354 FUJI ELECTRIC CO., LTD.: COMPANY OVERVIEW 304
FIGURE 63 FUJI ELECTRIC CO., LTD.: COMPANY SNAPSHOT 304
TABLE 355 FUJI ELECTRIC CO., LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED 305
14.2 OTHER PLAYERS 306
14.2.1 INTELLIGENT ENERGY LIMITED 306
TABLE 356 INTELLIGENT ENERGY LIMITED: COMPANY OVERVIEW 306
14.2.2 HORIZON FUEL CELL TECHNOLOGIES PTE LTD 306
TABLE 357 HORIZON FUEL CELL TECHNOLOGIES: COMPANY OVERVIEW 306
14.2.3 NUVERA FUEL CELLS, LLC 307
TABLE 358 NUVERA FUEL CELLS, LLC: COMPANY OVERVIEW 307
14.2.4 SOLIDPOWER S.P.A. 307
TABLE 359 SOLIDPOWER S.P.A.: COMPANY OVERVIEW 307
14.2.5 ALTERGY 308
TABLE 360 ALTERGY: COMPANY OVERVIEW 308
14.2.6 ADAPTIVE ENERGY 309
TABLE 361 ADAPTIVE ENERGY: COMPANY OVERVIEW 309
14.2.7 ADELAN 310
TABLE 362 ADELAN: COMPANY OVERVIEW 310
14.2.8 SPECIAL POWER SOURCES 311
TABLE 363 SPECIAL POWER SOURCES: COMPANY OVERVIEW 311
14.2.9 ZTEK CORPORATION, INC. 312
TABLE 364 ZTEK CORPORATION, INC.: COMPANY OVERVIEW 312
14.2.10 MICRORGANIC TECHNOLGIES 313
TABLE 365 MICRORGANIC TECHNOLOGIES: COMPANY OVERVIEW 313
14.2.11 AVL LIST GMBH 314
TABLE 366 AVL LIST GMBH: COMPANY OVERVIEW 314
14.2.12 WATT FUEL CELL CORPORATION 315
TABLE 367 WATT FUEL CELL CORPORATION: COMPANY OVERVIEW 315
14.2.13 PROTON MOTOR FUEL CELL GMBH 316
TABLE 368 PROTON MOTOR FUEL CELL GMBH: COMPANY OVERVIEW 316
*Details on Business overview, Products/Services/Solutions offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
15 APPENDIX 317
15.1 INSIGHTS FROM INDUSTRY EXPERTS 317
15.2 DISCUSSION GUIDE 318
15.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 325
15.4 CUSTOMIZATION OPTIONS 327
15.5 RELATED REPORTS 327
15.6 AUTHOR DETAILS 328

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