FUEL CELLS - GLOBAL MARKET SIZE, SEGMENTATION, … · Fuel Cells - Global Market Size, Segmentation, Competitive Landscape, Regulations and Key Country Analysis to 2020 KEY COUNTRY

REFERENCE CODE GDAE1080MAR | PUBLICATION DATE NOVEMBER 2013

FUEL CELLS - GLOBAL MARKET SIZE, SEGMENTATION,

COMPETITIVE LANDSCAPE, REGULATIONS AND KEY COUNTRY ANALYSIS TO 2020

Fuel Cells - Global Market Size, Segmentation, Competitive Landscape, Regulations and Key Country Analysis to 2020 2 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.



Executive Summary

Global Fuel Cell Market to grow Manifold by 2020

The global fuel cell market is currently in its

nascent stages but is one of enormous growth

prospects and potential. The use of fuel cells is

expected to increase significantly in several

applications, most important of them being

residential Combined Heat and Power (CHP)

systems, vehicles, material handling equipment,

Auxiliary Power Units (APUs) and portable

chargers for consumer electronics. Currently,

stationary fuel cells, including small residential

systems and larger industrial and megawatt (MW)

level systems contribute the most to the annual

fuel cell shipments and installations each year.

However, it is expected that by 2020, FCEVs

would contribute the most in terms of capacity of

fuel cells installed annually.

Fuel Cell Market, Global, Installation of Stationary Fuel Cells (MW), 2006–2020

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Annu

al in

stal

latio

n (M

W)

Source: GlobalData

Fuel Cell Market, Global, Installation of Transport Fuel Cells (MW), 2006–2020

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Ann

ual i

nsta

llatio

n (M

W)

Source: GlobalData

Fuel Cell Market, Global, Shipment of Fuel Cells (MW), 2006–2020 Year Stationary fuel cells Transport fuel cells

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Source: GlobalData


Table of Contents



1 Table of Contents

1 Table of Contents ....................................................................................................................... 5

1.1 List of Tables ...................................................................................................................... 8

1.2 List of Figures ..................................................................................................................... 9

2 Introduction ............................................................................................................................... 11

2.1 Fuel Cells .......................................................................................................................... 11

2.2 Stationary, Portable and Transport Fuel Cells ................................................................... 12

2.2.1 Stationary Fuel Cells ..................................................................................................... 12

2.2.2 Portable Fuel Cells ........................................................................................................ 12

2.2.3 Transport Fuel Cells ...................................................................................................... 13

2.3 Technology and Types of Fuel Cells ................................................................................. 13

2.3.1 Phosphoric Acid Fuel Cell ............................................................................................. 13

2.3.2 Proton Exchange Membrane Fuel Cell .......................................................................... 14

2.3.3 Molten Carbonate Fuel Cell ........................................................................................... 14

2.3.4 Solid Oxide Fuel Cell ..................................................................................................... 15

2.3.5 Alkaline Fuel Cell .......................................................................................................... 15

2.3.6 Direct Methanol Fuel Cell .............................................................................................. 15

2.3.7 Regenerative Fuel Cell .................................................................................................. 15

2.3.8 Zinc Air Fuel Cell ........................................................................................................... 16

2.3.9 Protonic Ceramic Fuel Cell ............................................................................................ 16

2.3.10 Microbial Fuel Cell ......................................................................................................... 16

2.3.11 Mixed Reactant Fuel Cell .............................................................................................. 16

2.4 GlobalData Report Guidance ............................................................................................ 17

3 Fuel Cell Market, Global ........................................................................................................... 18

3.1 Fuel Cell Market, Global, Overview ................................................................................... 18

3.2 Fuel Cell Market, Global, Annual Installation ..................................................................... 20

3.2.1 Annual Stationary Fuel Cell Installation ......................................................................... 20


Table of Contents



3.2.2 Annual Portable Fuel Cell Shipment .............................................................................. 23

3.2.3 Annual Transport Fuel Cell Installation .......................................................................... 25

3.3 Fuel Cell Market, Global, System Cost .............................................................................. 28

3.4 Fuel Cell Market, Global, Market Size ............................................................................... 32

3.5 Fuel Cell Market, Global, Segmentation by Technology .................................................... 34

3.6 Fuel Cell Market, Global, Competitive Landscape ............................................................. 36

3.6.1 Market Share................................................................................................................. 36

3.6.2 Major Companies .......................................................................................................... 38

3.7 Fuel Cell Market, Global, Drivers....................................................................................... 41

3.8 Fuel Cell Market, Global, Challenges ................................................................................ 43

4 Fuel Cell Market, US ................................................................................................................. 45

4.1 Fuel Cell Market, US, Overview ........................................................................................ 45

4.2 Fuel Cell Market, US, Installation of Stationary Fuel Cells ................................................. 45

4.3 Fuel Cell Market, US, Market Size of Stationary Fuel Cells ............................................... 48

4.4 Fuel Cell Market, US, Installation of Transport Fuel Cells ................................................. 50

4.5 Fuel Cell Market, US, Market Size of Transport Fuel Cells ................................................ 52

4.6 Fuel Cell Market, US, Policy .............................................................................................. 54

4.6.1 Investment Tax Credits ................................................................................................. 54

4.6.2 American Recovery and Reinvestment Act of 2009 ....................................................... 55

5 Fuel Cell Market, UK ................................................................................................................. 56

5.1 Fuel Cell Market, UK, Overview ........................................................................................ 56

5.2 Fuel Cell Market, UK, Installation of Stationary Fuel Cells ................................................. 57

5.3 Fuel Cell Market, UK, Market Size of Stationary Fuel Cells ............................................... 59

5.4 Fuel Cell Market, UK, Installation of Transport Fuel Cells ................................................. 61

5.5 Fuel Cell Market, UK, Market Size of Fuel Cells for Vehicles ............................................ 63

5.6 Fuel Cell Market, UK, Policy .............................................................................................. 65


Table of Contents



6 Fuel Cell Market, Germany ....................................................................................................... 66

6.1 Fuel Cell Market, Germany, Overview ............................................................................... 66

6.2 Fuel Cell Market, Germany, Installation of Stationary Fuel Cells ....................................... 67

6.3 Fuel Cell Market, Germany, Market Size of Stationary Fuel Cells ..................................... 69

6.4 Fuel Cell Market, Germany, Installation of Transport Fuel Cells ........................................ 71

6.5 Fuel Cell Market, Germany, Market Size of Fuel Cells for Vehicles ................................... 73

6.6 Fuel Cell Market, Germany, Policy .................................................................................... 75

7 Fuel Cell Market, Republic of Korea .......................................................................................... 76

7.1 Fuel Cell Market, Republic of Korea, Overview ................................................................. 76

7.2 Fuel Cell Market, Republic of Korea, Installation of Stationary Fuel Cells.......................... 77

7.3 Fuel Cell Market, Republic of Korea, Market Size of Stationary Fuel Cells ........................ 79

7.4 Fuel Cell Market, Republic of Korea, Installation of Transport Fuel Cells .......................... 81

7.5 Fuel Cell Market, Republic of Korea, Market Size of Transport Fuel Cells ......................... 83

7.6 Fuel Cell Market, Republic of Korea, Policy ...................................................................... 85

8 Fuel Cell Market, Japan ............................................................................................................ 86

8.1 Fuel Cell Market, Japan, Overview .................................................................................... 86

8.2 Fuel Cell Market, Japan, Installation of Stationary Fuel Cells ............................................ 88

8.3 Fuel Cell Market, Japan, Market Size of Stationary Fuel Cells .......................................... 91

8.4 Fuel-Cell Market, Japan, Installation of Transport Fuel Cells............................................. 93

8.5 Fuel-Cell Market, Japan, Market Size of Fuel Cells for Vehicles........................................ 95

8.6 Fuel Cell Market, Japan, Policy ......................................................................................... 97

9 Appendix................................................................................................................................... 98

9.1 Abbreviations .................................................................................................................... 98

9.2 Bibliography .................................................................................................................... 100

9.3 Research Methodology ................................................................................................... 101

9.3.1 Secondary Research ................................................................................................... 101

9.3.2 Primary Research ....................................................................................................... 101


Table of Contents



9.4 Disclaimer ....................................................................................................................... 102

1.1 List of Tables

Table 1: Fuel Cell Market, Global, Annual Installation of Stationary Fuel Cells (MW), 2006–2020 .............. 22

Table 2: Fuel Cell Market, Global, Annual Sales of Portable Fuel Cells (MW), 2006–2020 ......................... 24

Table 3: Fuel Cell Market, Global, Annual Installation of Transport Fuel Cells (MW), 2006–2020 ............... 27

Table 4: Fuel Cell Market, Global, Cost of Stationary Fuel Cell Systems ($/kW), 2006–2020 .................... 29

Table 5: Fuel Cell Market, Global, Cost of Transport Fuel Cell System ($/kW), 2006–2020 ........................ 31

Table 6: Fuel Cell Market, Global, Market Size ($bn), 2006–2020 ............................................................. 33

Table 7: Fuel Cell Market, Global, Market Segmentation by Type (MW), 2006–2012 ................................. 35

Table 8: Fuel Cell Market, Global, Market Share (%), 2011–2013 .............................................................. 37

Table 9: Fuel Cell Market, US, Annual Installation of Stationary Fuel Cells (MW), 2006–2020 ................... 47

Table 10: Fuel Cell Market, US, Market Size of Stationary Fuel Cells ($m), 2006–2020 ............................... 49

Table 11: Fuel Cell Market, US, Annual Installation of Transport Fuel Cells (MW), 2006–2020 .................... 51

Table 12: Fuel Cell Market, US, Market Size of Transport Fuel Cells ($m), 2006–2020................................ 53

Table 13: Fuel Cell Market, the UK, Annual Installation of Stationary Fuel Cells (MW), 2006–2020.............. 58

Table 14: Fuel Cell Market, UK, Market Size of Stationary Fuel Cells ($m), 2006–2020 ............................... 60

Table 15: Fuel Cell Market, UK, Installation of Transport Fuel Cells (MW), 2006–2020 ................................ 62

Table 16: Fuel Cell Market, the UK, Market Size of Transport Fuel Cells ($m), 2006–2020 .......................... 64

Table 17: Fuel Cell Market, Germany, Installation of Stationary Fuel Cells (MW), 2006–2020 ...................... 68

Table 18: Fuel Cell Market, Germany, Market Size of Stationary Fuel Cells ($m), 2006–2020 ..................... 70

Table 19: Fuel Cell Market, Germany, Annual Installation of Transport Fuel Cells (MW), 2006–2020 ........... 72

Table 20: Fuel Cell Market, Germany, Market Size of Transport Fuel Cells ($m), 2006–2020 ...................... 74

Table 21: Fuel Cell Market, Republic of Korea, Installation of Stationary Fuel Cells (MW), 2006–2020 ....... 78


Table of Contents



Table 22: Fuel Cell Market, Republic of Korea, Market Size of Stationary Fuel Cells ($m), 2006–2020 ........ 80

Table 23: Fuel Cell Market, Republic of Korea, Installation of Transport Fuel Cells (MW), 2006–2020 ......... 82

Table 24: Fuel Cell Market, Republic of Korea, Market Size of Transport Fuel Cells ($m), 2006–2020 ......... 84

Table 25: Fuel Cell Market, Japan, Annual Installation of Stationary Fuel Cells (MW), 2006–2020 ............... 90

Table 26: Fuel Cell Market, Japan, Market Size of Stationary Fuel Cells ($bn), 2006–2020 ......................... 92

Table 27: Fuel-Cell Market, Japan, Annual Installation of Transport Fuel Cells (MW), 2006–2020 ............... 94

Table 28: Fuel Cell Market, Japan, Market Size of Transport Fuel Cells ($m), 2006–2020 ........................... 96

Table 29: Fuel Cell Market, Japan, Market Size of Transport Fuel Cells ($m), 2006–2020 ........................... 98

1.2 List of Figures

Figure 1 Fuel Cell Market, Global, Annual Installation of Stationary Fuel Cells (MW), 2006–2020 .............. 21

Figure 2 Fuel Cell Market, Global, Annual Sales of Portable Fuel Cells (MW), 2006–2020 ......................... 23

Figure 3 Fuel Cell Market, Global, Annual Installation of Transport Fuel Cells (MW), 2006–2020 ............... 26

Figure 4 Fuel Cell Market, Global, Cost of Stationary Fuel Cell Systems ($/kW), 2006–2020 ..................... 28

Figure 5 Fuel Cell Market, Global, Cost of Transport Fuel Cell Systems ($/kW), 2006–2020 ...................... 30

Figure 6 Fuel Cell Market, Global, Market Size ($bn), 2006–2020 ............................................................. 32

Figure 7 Fuel Cell Market, Global, Market Segmentation by Type (MW), 2006–2012 ................................. 34

Figure 8 Fuel Cell Market, Global, Market Share (%), 2011–2013 .............................................................. 37

Figure 9: Fuel Cell Market, US, Annual Installation of Stationary Fuel Cells (MW), 2006–2020 ................... 46

Figure 10: Fuel Cell Market, US, Market Size of Stationary Fuel Cells ($m), 2006–2020 ................................ 48

Figure 11: Fuel Cell Market, US, Annual Installation of Transport Fuel Cells (MW), 2006–2020 .................... 50

Figure 12: Fuel Cell Market, US, Market Size of Transport Fuel Cells ($m), 2006–2020 ................................. 52

Figure 13: Fuel Cell Market, UK, Annual Installation of Stationary Fuel Cells (MW), 2006–2020 ................... 57

Figure 14: Fuel Cell Market, UK, Market Size of Stationary Fuel Cells ($m), 2006–2020 ................................ 59


Table of Contents



Figure 15 Fuel Cell Market, UK, Annual Installation of Transport Fuel Cells (MW), 2006–2020 .................... 61

Figure 16 Fuel-Cell Market, UK, Market Size of Transport Fuel Cells ($m), 2006–2020 ............................... 63

Figure 17 Fuel Cell Market, Germany, Installation of Stationary Fuel Cells (MW), 2006–2020 ...................... 67

Figure 18 Fuel Cell Market, Germany, Market Size of Stationary Fuel Cells ($m), 2006–2020 ..................... 69

Figure 19 Fuel Cell Market, Germany, Annual Installation of Transport Fuel Cells (MW), 2006–2020 ........... 71

Figure 20 Fuel Cell Market, Germany, Market Size of Transport Fuel Cells ($m), 2006–2020 ...................... 73

Figure 21 Fuel Cell Market, Republic of Korea, Annual Installation of Stationary Fuel Cells (MW), 2006–2020

................................................................................................................................................... 77

Figure 22 Fuel Cell Market, Republic of Korea, Market Size of Stationary Fuel Cells ($m), 2006–2020 ........ 79

Figure 23 Fuel Cell Market, Republic of Korea, Installation of Transport Fuel Cells (MW), 2006–2020 ......... 81

Figure 24 Fuel Cell Market, Republic of Korea, Market Size of Transport Fuel Cells ($m), 2006–2020 ......... 83

Figure 25 Fuel Cell Market, Japan, Annual Installation of Stationary Fuel Cells (MW), 2006–2020 ............... 89

Figure 26 Fuel Cell Market, Japan, Market Size of Stationary Fuel Cells ($bn), 2006–2020 ......................... 91

Figure 27 Fuel Cell Market, Japan, Annual Installation of Transport Fuel Cells (MW), 2006–2020................ 93

Figure 28 Fuel Cell Market, Japan, Market Size of Transport Fuel Cells ($m), 2006–2020 ........................... 95




Introduction

2 Introduction

2.1 Fuel Cells

Fuel cells are a rapidly growing energy conversion technology, which offer high efficiency, quiet

operation, and negligible carbon footprint compared with other energy-conversion technology. They

are a direct-energy conversion technology, which means they do not involve the combustion of

fuel, and hence have zero direct emission of pollutants or Green House Gases (GHGs).

A fuel cell is a device that converts chemical energy into electrical energy through an electro-

chemical reaction, and releases water and heat as by-products. A fuel cell consists of an electrolyte

positioned between an anode and a cathode. A reformer converts the fuel into hydrogen, and

sends it through the anode, which splits the hydrogen molecules into protons and electrons. As the

electrolyte membrane is only permeable for protons, these pass through, while the electrons are

forced to move through the external circuitry, and thus generate a voltage. The protons permeate

the electrolyte membrane, reach the cathode where they react with the air, and form water that

flows out. Heat is also generated in this reaction of protons and air, which can be captured and

used for heating purposes.

Each cell generates a very small voltage of less than one volt, and has low power of up to a few

hundred watts (W). Several cells are piled up into what is called a stack, and are connected in

series and parallel in order to achieve the desired voltage and power ratings. Along with this fuel

cell stack, a fuel cell system consists of a fuel processor, referred to as reformer, and a power

conditioner. The reformer converts the input fuel such as natural gas, methanol or bio-ethanol into

the required hydrogen fuel. The power conditioner is used to convert the low Direct Current (DC)

voltage into a higher Alternating Current (AC) required for practical application. (USDOE-HP,

2010).




Introduction

2.4 GlobalData Report Guidance

The report begins with an executive summary which gives a snapshot of the key indicators and

trends in the global fuel cell market.

The “Introduction” chapter gives an introduction to fuel cell technology and explains stationary,

portable and transport fuel cells. The chapter also describes 11 types of modern fuel cells.

The “Global Fuel Cell Market” chapter starts with the quantification of the global fuel cell market

in terms of capacity (MW) and market size. The chapter also covers market segmentation,

market share of top manufacturers, and the drivers and challenges of the fuel cell market.

Each of the country chapters starts with an overview of the respective country’s market, and

covers the capacity (MW), and market size of stationary and transport fuel cells for the period

2006–2020. These chapters also give a detailed account of the policies affecting the fuel cell

market in the respective country.


Fuel Cell Market, Global



3.2 Fuel Cell Market, Global, Annual Installation

3.2.1 Annual Stationary Fuel Cell Installation

Installation of stationary fuel cell systems grew substantially during the period 2010 to 2013, both in

terms of number of systems and capacity in MW. In 2010, XX MW of stationary fuell cells were

installed. This grew to XX MW in 2011 and XX MW in 2012. Based on the installations in the XX

XX quarters, the total installation for 2013 is expected to reach XX MW. It is expected to increase

at a similar pace over the next XX years, and reach XX MW in 2015. Beyond 2015, with expected

decreases in costs for manufacture and set up, the shipment and installation of stationary fuel cells

is expected to increase at a higher rate, to reach XX MW by 2020.

Large stationary fuel cells used as primary power sources for corporation office buildings are being

set up in the US and South Korea, and these add significantly to the total shipment of fuel cells

globally. The following chart shows the shipments of stationary fuel cells from 2006 to 2012, and

estimates for 2013 to 2020.





Figure 1 Fuel Cell Market, Global, Annual Installation of Stationary Fuel Cells (MW), 2006–2020

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Annu

al in

stal

latio

n (M

W)

Source: GlobalData; FuelCell Today, 2013





Table 1: Fuel Cell Market, Global, Annual Installation of Stationary Fuel Cells (MW), 2006–2020 Year Annual installation

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Source: GlobalData; FuelCell Today, 2013





3.6 Fuel Cell Market, Global, Competitive Landscape

3.6.1 Market Share

During the period 2011–2013, the largest capacities of stationary fuel cells were installed around

the world by FuelCell Energy, Bloom Energy, UTC Power, and Ballard Systems. These companies

together installed more than XX% capacity of all fuel cell installations in the world. However, a

number of other companies also contributed to installations for several stationary applications.

FuelCell Energy was one of the market leaders with a market share of XX%. In late 2013, the

company finished the installation of a XX MW fuel cell system for POSCO in Republic of Korea and

this system currently stands to be the largest fuel cell system in the world and is expected to be

outdone only by the fuel cell parks coming up in the country in 2014. Bloom Energy was also a

major player during the 2011–2013 period with a market share of XX%. The company has supplied

several large corporations with fuel cell systems dubbed as Bloom Boxes ranging from a few

hundred kW to XX MW during this period. Most of Bloom’s installations are in California in the US

and are intended to power retail outlets and office buildings or corporations.

UTC power contributed to XX% of the market share during this period and Ballard Systems had a

small XX% with its smaller capacity systems sold in large numbers through out the US and other

key fuel cell markets.





The following chart shows the market share of major fuel cell manufacturers for the combined

period 2011–2013.

Figure 8 Fuel Cell Market, Global, Market Share (%), 2011–2013

FuelCell Energy

Bloom

UTC CorpBallard Systems

Others

Source: GlobalData, Fuel Cell Today, USDOE

Table 8: Fuel Cell Market, Global, Market Share (%), 2011–2013

Manufacturer Market share

FuelCell Energy

Bloom

UTC Corp

Ballard Systems

Others

Source: GlobalData; Fuel Cell Today, 2013; USDOE, 2013


Appendix



9 Appendix

9.1 Abbreviations

Table 29: Fuel Cell Market, Japan, Market Size of Transport Fuel Cells ($m), 2006–2020 Abbreviation Full Form

$ Dollar

AC Alternating Current

AFC Alkaline Fuel Cell

ANRA Agency for Natural Resources and Energy

APU Auxilliary Power Unit

ARRA American Recovery and Revinvestment Act

bn Billion

BOP Balance of Plant

CHP Combined Heat and Power

DC Direct Current

DMFC Direc Methanol Fuel Cell

F Fahrenheit

FCE Fuel Cell Energy

FCEV Fuel Cell Electric Vehicle

FTO Fuel Cell Technology Office

GHG Green House Gas

GW Giga Watt

ITC Investment Tax Credit

JPY Japanese Yen

KRW Korean Won

kW Kilo Watt

Li-ion Lithium Ion

LNG Liquid Natural Gas

m Million

MCFC Molten Carbonate Fuel Cell

METI Ministry of Economy, Trade and Industry

MFC Microbial Fuel Cell

MRFC Mixed Reactant Fuel Cell

MW Mega Watt

NASA National Aeronautics and Space Administration

NIP National Hydrogen and Fuel Cell Technology Innovation Program

P&G Procter and Gamble


Appendix



PAFC Phosphoric Acid Fuel Cell

PCFC Protonic Ceramic Fuel Cell

PEM Proton Exchange Membrane

R&D Research and development

RFC Regenerative Fuel Cell

SOFC Solid Oxide Fuel Cell

UKHFCA United Kingdom Hydrogen and Fuel Cell Association

USDOE United States Department of Energy

V Volt

W Watt

ZAFC Zinc Air Fuel Cell

Source: GlobalData


Appendix



9.2 Bibliography

USDOE-HP (2010) Introduction to Hydrogen for Code Officials, US Department of Energy –

Hydrogen Program, Available from:

http://www.hydrogen.energy.gov/pdfs/introduction_to_hydrogen_for_code_officials_text_versio

n.pdf

USDOE-FC (2013) Fuel Cells – Types of Fuel Cells, US Department of Energy – Energy

Efficiency and Renewable Energy, Available from:

http://www1.eere.energy.gov/hydrogenandfuelcells/fuelcells/fc_types.html

USDOE-FTO (2013) Accomplishments and Progress of the Fuel Cell Technologies Office, US

Department of Energy – Energy Efficiency and Renewable Energy, Available from:

http://www1.eere.energy.gov/hydrogenandfuelcells/accomplishments.html

FuelCell Today (2013) The Fuel Cell Industry review, Fuel Cell Today, Available from:

http://www.fuelcelltoday.com/media/1889744/fct_review_2013.pdf

World Bank (2013) Energy Imports, The World Bank, Available from:

http://data.worldbank.org/indicator/EG.IMP.CONS.ZS

Kim JW (2013) Recent Achievements in Hydrogen and Fuel Cells in Korea, Kyushu University,

Available from: http://hydrogenius.kyushu-u.ac.jp/cie/event/ihdf2013/pdf/2-3kim.pdf

JR-East, 2006 Development of the World's First Fuel Cell Hybrid Railcar, East Japan Railway

Company, Available from: http://www.jreast.co.jp/e/press/20060401/

NIP (2013) National Innovation Programme Hydrogen and Fuel Cell Technology, National

Organisation Hydrogen and Fuel Cell Technology, Available from: http://www.now-

gmbh.de/en/about-now/funding-programmes/national-innovation-programme-nip.html


Appendix



9.3 Research Methodology

GlobalData dedicated research and analysis teams consists of experienced professionals in

marketing, market research, consulting background in the energy industry and advanced statistical

expertise.

GlobalData adheres to the Codes of Practice of the Market Research Society (www.mrs.org.uk) and

the Strategic and Competitive Intelligence Professionals (www.scip.org).

All GlobalData databases are continuously updated and revised. The following research

methodology is followed for all databases and reports.

9.3.1 Secondary Research

The research process begins with exhaustive secondary research on internal and external sources

carried out to source qualitative and quantitative information relating to the global market and the

market in each country.

The secondary research sources that are typically used include, but are not limited to:

Company websites: whitepapers, press releases, news and annual reports

Industry trade journals, magazines and other literature: news articles and research studies

Industry associations, energy agencies and other government bodies

Internal proprietary databases such as our alternative energy eTrack and power eTrack.

9.3.2 Primary Research

GlobalData conducts extensive primary interviews with industry participants and commentators in

order to validate its data and analysis.

A typical research interview is conducted to fulfill the following functions:

To get the interviewee’s perspective on the market size, market trends, growth trends,

competitive landscape, and future outlook.

To validate secondary research findings.

To further develop the analysis team’s expertise and market understanding.


Appendix



Key representatives of fuel cell manufacturing companies and industry associations have been

interviewed in order to quantify markets and analyse trends the and also to validate the existing

data and analysis carried out.

9.4 Disclaimer

All Rights Reserved.

No part of this publication may be reproduced, stored in a retrieval system or transmitted in any

form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior

permission of the publisher, GlobalData.

Documents

FUEL CELLS - GLOBAL MARKET SIZE, SEGMENTATION, … · Fuel Cells - Global Market Size, Segmentation, Competitive Landscape, Regulations and Key Country Analysis to 2020 KEY COUNTRY