The Global Fuel Cells Market Key Trends And Growth Opportunities Up To 2015 Gbi Sample

The Global Fuel Cells Market: Key Trends and Growth
Opportunities up to 2015
Reference Code: GMDAE0006MR Publication Date: January 2010

Demand for clean sources Fuel Cells Market to Commercialize by 2013-2015
of electricity generation
and storage is expected to Demand for non-toxic-substance-based energy storage is expected to accelerate the demand for
accelerate the demand for stationary fuel cells in the coming decade. Technological advancements and an increase in sales
fuel cells. The fuel cells are expected to bring the cost of fuel cells down. As a result, the technology is expected to become
market is expected to commercialized by 2013-2015.
commercialize by 2013- Fuel Cells Market is in its Nascent Stage of Development
2015
Despite the various advantages of the technology, the fuel cell market is yet to be a part of the
mainstream market mainly due to its high cost and lower durability than grid power. The fuel cell
industry is highly fragmented. This is primarily because most of the technological developments are
taking place in universities or government laboratories which further spin out as new business units
and seek private equity and venture funding from established corporations.
Integration of Nanotechnology to Enhance Fuel Cells Market Potential
Nanotechnology is providing increased durability to fuel cells and is making its costs competitive
with traditional sources of power generation. In 2008 more than XXX organizations engaged in
nanotechnology for fuel cells and hydrogen energy spent more than $XX billion on the
incorporation of nanotechnology with fuel cells and hydrogen energy. Fuel cell technology
development coupled with integration of nanotechnology will provide the fuel cell market with
greater reliability, durability, and power, at a lower cost along with the advantages of lower
emissions and fuel saving.
Price of Fuel Cell Installations to Go Down in the Future
The price of fuel cells is expected to decrease in the near future as production increases as a result
of government support in terms of subsidies and coordinated R&D, coupled with technological
development in making fuel cell manufacturing more productive.
Environmental Concerns Driving the Fuel Cells Market
Fuel cells are an emission free power sources used for vehicles, potable devices, and residential,
commercial, and industrial purposes. The rising energy demand boosts the need for clean sources
of power generation which in turn gives way to fast paced development of the fuel cells market.
Lack of Infrastructure Hampering Market Development
The global market for power supply systems does not have the adequate infrastructure required to
transport, distribute, and store fuel cell systems and the fuels used in them. As a result, the fuel
cells market is unable to cater effectively to the growth in demand for systems. Fuel cell vehicle
manufacturers also anticipate infrastructure as the primary bottleneck in the development of
technology. Hydrogen fuelling stations are slow to develop and are also expensive which adds to
the challenges for the technology.
Investments Are Pooling in for Fuel Cell Development
Since 2002 the fuel cells market has attracted the investment of more than $663m in the form of
equity financing, private placement, private equity, venture financing, and so on.
Korea’s Emerging Fuel Cell Technology
The Korean fuel cell market is in a nascent stage and is expected to witness rapid growth in the
near future as a result of government supported policies. Korea has about nine fuel cell units
installed in various regions. The major driver behind the future development of the hydrogen and
fuel cell industry in Korea is the country’s need to achieve energy security.
Japan Has the Largest Fuel Cell Installations
Japan has the largest cumulative fuel cell installations in the world with XXX units installed out of
about 2,500 units across the globe. This is primarily because of the government supported policies
that are aimed at a carbon emission reduction of XX% from 1990 levels by 2020.

The Global Fuel Cells Market: Key Trends and Growth GMDAE0006MR /Published JAN 2010
Page 1
© GBI Research. This is a licensed product and is not to be photocopied

Research Scope and Definition
This study analyzes the global market scenario and growth opportunities for fuel cell systems. This
research does not cover fuel cell-based equipments such as fuel cell inverters.
Geographically, this study covers key countries active in fuel cell technology development, namely,
the US, the UK, Germany, Japan, and South Korea.
The timeframe of the study is from the 1980s to 2015. The historical period refers to the period from
the 1980s to 2008. The forecast period is from 2009 to 2015. Numbers for 2009 are estimated for
the year.

Page 2

1 Table of Contents
1 Table of Contents .................................................................................................................... 3
1.1 List of Tables.................................................................................................................. 5
1.2 List of Figures................................................................................................................. 7
2 Global Fuel Cell Market Analysis ............................................................................................. 9
2.1 Global Fuel Cell Market, Technology Analysis ............................................................... 9
2.1.1 What is a Fuel Cell? .................................................................................................. 9
2.1.2 Types of Fuel Cells.................................................................................................... 9
2.1.3 Applications of Fuel Cells ........................................................................................ 11
2.1.4 Benefits of the Technology ...................................................................................... 12
2.2 Global Fuel Cell Market, Market Analysis..................................................................... 12
2.2.1 Market Overview ..................................................................................................... 12
2.2.2 Distribution Channel ................................................................................................ 13
2.2.3 Purchase Criteria for End-users .............................................................................. 14
2.2.4 Fuel Cell Installations .............................................................................................. 15
2.2.5 Production Value and Revenues, 2007-2008 .......................................................... 22
2.2.6 Market Drivers ......................................................................................................... 22
2.2.7 Market Restraints and Challenges .......................................................................... 23
2.2.8 Push and Pull Factors Affecting the Market............................................................. 25
3 Global Fuel Cell Market, Market Share Analysis.................................................................... 26
3.1 Global Fuel Cell Market, Global Market Share Analysis............................................... 26
3.2 Global Fuel Cell Market, Market Share Analysis by Fuel Cell Type ............................. 27
3.3 Market Share Analysis in Transportation Sector .......................................................... 29
3.3.1 Market Share Analysis, Light Duty Vehicles ............................................................ 29
3.3.2 Market Share Analysis, Fuel Cell Buses.................................................................. 31
3.4 Global Fuel Cell Market, Market Share Analysis by Power Range............................... 33
3.4.1 Global Fuel Cell Market, Market Share Analysis for fuel cells in power range less
than 1 kW ................................................................................................................ 33
3.4.2 Global Fuel Cell Market, Market Share Analysis for fuel cells in power range 1kW-
5kW ......................................................................................................................... 34
250kW ..................................................................................................................... 35
1MW ........................................................................................................................ 36
3.4.5 Global Fuel Cell Market, Market Share Analysis for fuel cells in power range greater
than 1MW ................................................................................................................ 37
3.5 Global Fuel Cell Market, Market Share Analysis by Countries ..................................... 38
3.5.1 The US Fuel Cell Market, Manufacturers Share...................................................... 38
3.5.2 The UK Fuel Cell Market, Manufacturers Share...................................................... 43
3.5.3 Japan Fuel Cell Market, Manufacturers Share ........................................................ 45
3.5.4 Germany Fuel Cell Market, Manufacturers Share ................................................... 48
4 Global Fuel Cell Market, Investments Analysis...................................................................... 50
4.1 Historical Investment Trend.......................................................................................... 50
4.2 Top 10 Investments...................................................................................................... 50
5 Global Fuel Cell Market, Key Country Analysis ..................................................................... 52
5.1 Key Country Analysis – The US ................................................................................... 52
5.1.1 The US Fuel Cell Market, Overview ........................................................................ 52
5.2 Key Country Analysis – The UK ................................................................................... 56
5.2.1 The UK Fuel Cell Market, Overview ........................................................................ 56
5.3 Key Country Analysis – Germany ................................................................................ 58
5.4 Key Country Analysis – Japan ..................................................................................... 63
5.4.1 Japan Fuel Cell Market, Overview........................................................................... 63

Page 3

5.5 Key Country Analysis – Korea...................................................................................... 66
6 UTC Power, Company Snapshot........................................................................................... 68
6.1 Key Information ............................................................................................................ 68
6.2 Company Overview...................................................................................................... 68
6.3 Competitors.................................................................................................................. 68
6.4 Locations And Subsidiaries .......................................................................................... 68
6.4.1 Head Office ............................................................................................................. 68
7 Plug Power Inc., Company Snapshot .................................................................................... 69
7.1 Key Information ............................................................................................................ 69
7.3 Competitors.................................................................................................................. 69
7.4.1 Head Office ............................................................................................................. 69
7.4.2 Other Locations & Subsidiaries ............................................................................... 70
8 Ballard Power Systems Inc., Company Snapshot.................................................................. 71
8.1 Key Information ............................................................................................................ 71
8.3 Competitors.................................................................................................................. 71
8.4.1 Head Office ............................................................................................................. 72
9 FuelCell Energy, Inc., Company Snapshot ............................................................................ 73
9.1 Key Information ............................................................................................................ 73
9.3 Competitors.................................................................................................................. 73
9.4.1 Head Office ............................................................................................................. 73
10 ReliOn Inc., Company Snapshot............................................................................................ 75
10.1 Key Information ............................................................................................................ 75
10.3 Competitors.................................................................................................................. 75
10.4.1 Head Office......................................................................................................... 75
11 Appendix................................................................................................................................ 76
11.1 Abbreviations ............................................................................................................... 76
11.2 Methodology................................................................................................................. 77
11.2.1 Coverage ............................................................................................................ 77
11.2.2 Secondary Research .......................................................................................... 78
11.2.3 Primary Research ............................................................................................... 78
11.2.4 Expert Panel Validation ...................................................................................... 78
11.3 Contact Us ................................................................................................................... 78
11.4 Disclaimer .................................................................................................................... 78

Page 4

1.1 List of Tables
Table 1: Global Fuel Cells Market, Annual Installations (Number of Units Installed) 1980s-2009
..................................................................................................................................... 16
Table 2: Global Fuel Cells Market, Cumulative Installations (Number of Units Installed) 1980s-
2009 ............................................................................................................................. 17
Table 3: Global Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009 .......... 18
Table 4: Global Stationary Fuel Cells Market, Cumulative Installed Capacity Split by End-user
Segments (%) 2008 ..................................................................................................... 19
Table 5: Global Stationary Fuel Cells Market, Cumulative Installed Capacity Split by End-user
Application (%) 2008 .................................................................................................... 20
Table 6: Global Stationary Fuel Cells Market, Cumulative Installed Capacity Split by Fuel Type
(%) 1980s-2008............................................................................................................ 21
Table 7: Global Fuel Cells Market, Production Value and Revenues ($m) 2007-2008 ............. 22
Table 8: Global Fuel Cells Market, Number of Hydrogen Fueling Stations by Country .............. 24
Table 9: Global Fuel Cells Market, Manufacturers Share (%) 2009 ........................................... 27
Table 10: Global Fuel Cells Market, Share of Fuel Cell Type (%) 2009 ....................................... 28
Table 11: Global Fuel Cells Market, Market Share Analysis for Manufacturers of Fuel Cell Light
Duty Vehicles (%) 2009................................................................................................ 29
Table 12: Global Fuel Cells Market, Market Share Analysis for Manufacturers of Fuel Cell Light
Duty Vehicles (%) 2009................................................................................................ 30
Table 13: Global Fuel Cells Market, Market Share Analysis for Manufacturers of Fuel Cell Buses
(%) 2009 ...................................................................................................................... 31
Table 14: Global Fuel Cells Market, Market Share Analysis for Fuel Cell Manufacturers for Buses
(%) 2009 ...................................................................................................................... 32
Table 15: Global Fuel Cell Market, Market Share Analysis for Fuel Cells in Power Range Less
Than 1 kW (%), 2009 ................................................................................................... 33
Table 16: Global Fuel Cell Market, Market Share Analysis for Fuel Cells in Power Range 1kW-
5kW (%) 2009 .............................................................................................................. 34
Table 17: Global Fuel Cell Market, Market Share Analysis for Fuel Cells in Power Range 5kW-
250kW (%) 2009 .......................................................................................................... 35
Table 18: Global Fuel Cell Market, Market Share Analysis for Fuel Cells in Power Range 250 kW-
1 MW (%) 2009 ............................................................................................................ 36
Table 19: Global Fuel Cell Market, Market Share Analysis for Fuel Cells in Power Range Greater
Than 1MW (%) 2009 .................................................................................................... 37
Table 20: The US Fuel Cell Market, Manufacturers share (%) 2009............................................ 38
Table 21: The US Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – MCFC (%) 2009
..................................................................................................................................... 39
Table 22: The US Fuel Cell Market, Manufacturers Share by Fuel Cell Type – PAFC (%) 2009. 40
Table 23: The US Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – PEM (%) 2009 41
Table 24: The US Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – SOFC (%) 2009
..................................................................................................................................... 42
Table 25: The UK Fuel Cell Market, Manufacturers’ Shares (%) 2009......................................... 43
Table 26: The UK Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – PEM (%) 2009 44
Table 27: Japan Fuel Cell Market, Manufacturers’ Shares (%) 2009 ........................................... 45
Table 28: Japan Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – PEM (%) 2009 .. 46
Table 29: Japan Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – PAFC (%) 2009. 47
Table 30: Germany Fuel Cell Market, Manufacturers’ Shares (%) 2009 ...................................... 48
Table 31: Germany Fuel Cell Market, Manufacturers Share by Fuel Cell Type – PEM (%) 2009 49
Table 32: Global Fuel Cells Market, Financing or Equity Investment (Million $) 2002-2009 ........ 50
Table 33: Global Fuel Cells Market, Top 10 Financing or Equity Investments, 2002-2009 .......... 51
Table 34: The US Fuel Cells Market, Fuel Cell Stimulus Plan (Million $)..................................... 52
Table 35: The US Fuel Cells Market, State Level Fuel Cell Market Transformation Projects ...... 53
Table 36: The US Fuel Cells Market, Annual Installations (Number of Units Installed) 1980s-2009
..................................................................................................................................... 54
Table 37: The US Fuel Cells Market, Cumulative Installations (Number of Units Installed) 1980s-
2009 ............................................................................................................................. 55
Table 38: The US Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009 ........ 56
Table 39: The UK Fuel Cells Market, Cumulative Installations (Number of Units Installed) 2002-
2009 ............................................................................................................................. 57
Table 40: The UK Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009 ........ 58
Table 41: Germany Fuel Cells Market, Annual Installations (Number of Units Installed) 1990s-
2009 ............................................................................................................................. 61

Page 5

Table 42: Germany Fuel Cells Market, Cumulative Installations (Number of Units Installed)
1980s-2009 .................................................................................................................. 62
Table 43: Germany Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009...... 63
Table 44: Japan Fuel Cells Market, Cumulative Installations (Number of Units Installed) 1980s-
2009 ............................................................................................................................. 65
Table 45: Japan Fuel Cells Market, Cumulative Installations (Number of Units Installed) 2002-
2009 ............................................................................................................................. 65
Table 46: Japan Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009........... 66
Table 47: UTC Power, Key Facts................................................................................................. 68
Table 48: Plug Power Inc., Key Facts .......................................................................................... 69
Table 49: Plug Power Inc., Other Locations................................................................................. 70
Table 50: Plug Power Inc., Subsidiaries....................................................................................... 70
Table 51: Ballard Power Systems Inc., Key Facts........................................................................ 71
Table 52: Ballard Power Systems Inc., Other Locations .............................................................. 72
Table 53: Ballard Power Systems Inc., Subsidiaries .................................................................... 72
Table 54: FuelCell Energy, Inc., Key Facts .................................................................................. 73
Table 55: FuelCell Energy, Inc., Other Locations......................................................................... 74
Table 56: ReliOn, Inc., Key Facts................................................................................................. 75
Table 57: ReliOn, Inc., Other Locations ....................................................................................... 75
Table 58: Abbreviations ( in alphabetical order ) .......................................................................... 76

Page 6

1.2 List of Figures
Figure 1: Global Fuel Cell Market, Electricity Generation Process ................................................ 9
Figure 2: Global Stationary Fuel Cells Market, Distribution Channel, 2009................................. 14
Figure 3: Global Stationary Fuel Cells Market, Purchase Criteria, 2009 ..................................... 15
Figure 4: Global Fuel Cells Market, Annual Installations (Number of Units Installed) 1980s-2009
..................................................................................................................................... 16
Figure 5: Global Fuel Cells Market, Cumulative Installations (Number of Units Installed) 2001-
2009 ............................................................................................................................. 17
Figure 6: Global Fuel Cells Market, Growth in Number of Fuel Cell Units Installed, 2015F ........ 18
Figure 7: Global Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009 .......... 18
Figure 8: Global Stationary Fuel Cells Market, Cumulative Installed Capacity Split by End-user
Segments (%) 2008 ..................................................................................................... 19
Figure 9: Global Stationary Fuel Cells Market, Cumulative Installed Capacity Split by End-user
Application (%) 2008 .................................................................................................... 20
Figure 10: Global Stationary Fuel Cells Market, Cumulative Installed Capacity Split by Fuel Type
(%) 1980s-2008............................................................................................................ 21
Figure 11: Global Fuel Cells Market, Production Value and Revenues (Million $) 2007-2008 ..... 22
Figure 12: Global Stationary Fuel Cells Market, Push-Pull Forces, 2009...................................... 25
Figure 13: Global Fuel Cells Market, Manufacturers Share by Number of Units Installed (%) 2009
..................................................................................................................................... 26
Figure 14: Global Fuel Cells Market, Share by Fuel Cell Type (%) 2009 ...................................... 27
Figure 15: Global Fuel Cells Market, Market Share Analysis for Manufacturers of Fuel Cell Light
Duty Vehicles (%) 2009................................................................................................ 29
Figure 16: Global Fuel Cells Market, Market Share Analysis for Fuel Cell Manufacturers for Light
Duty Vehicles (%) 2009................................................................................................ 30
Figure 17: Global Fuel Cells Market, Market Share Analysis for Manufacturers of Fuel Cell Buses
(%) 2009 ...................................................................................................................... 31
Figure 18: Global Fuel Cells Market, Market Share Analysis for Fuel Cell Manufacturers for Buses
(%) 2009 ...................................................................................................................... 32
Figure 19: Global Fuel Cell Market, Market Share Analysis for Fuel Cells in Power Range Less
Than 1 kW (%) 2009 .................................................................................................... 33
Figure 20: Global Fuel Cell Market, Market Share Analysis for Fuel Cells in Power Range 1kW-
5kW (%) 2009 .............................................................................................................. 34
Figure 21: Global Fuel Cell Market, Market Share Analysis for Fuel Cells in Power Range 5 kW-
250 kW (%) 2009 ......................................................................................................... 35
Figure 22: Global Fuel Cell Market, Market Share Analysis for Fuel Cells in Power Range 250 kW-
1 MW (%) 2009 ............................................................................................................ 36
Figure 23: Global Fuel Cell Market, Market Share Analysis for Fuel Cells in Power Range Greater
Than 1 MW (%) 2009 ................................................................................................... 37
Figure 24: The US Fuel Cell Market, Manufacturers’ Shares (%) 2009......................................... 38
Figure 25: The US Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – MCFC (%) 2009
..................................................................................................................................... 39
Figure 26: The US Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – PAFC (%) 2009
..................................................................................................................................... 40
Figure 27: The US Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – PEM (%) 2009 41
Figure 28: The US Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – SOFC (%) 2009
..................................................................................................................................... 42
Figure 29: The UK Fuel Cell Market, Manufacturers’ Shares (%) 2009......................................... 43
Figure 30: The UK Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – PEM (%) 2009 44
Figure 31: Japan Fuel Cell Market, Manufacturers’ Shares (%) 2009 ........................................... 45
Figure 32: Japan Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – PEM (%) 2009 .. 46
Figure 33: Japan Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – PAFC (%) 2009. 47
Figure 34: Germany Fuel Cell Market, Manufacturers’ Shares (%) 2009 ...................................... 48
Figure 35: Germany Fuel Cell Market, Manufacturers’ Shares by Fuel Cell Type – PEM (%) 2009
..................................................................................................................................... 49
Figure 36: Global Fuel Cells Market, Financing or Equity Investment (Million $) 2002-2009 ........ 50
Figure 37: The US Fuel Cells Market, Annual Installations (Number of Units Installed) 1980s-2009
..................................................................................................................................... 54
Figure 38: The US Fuel Cells Market, Cumulative Installations (Number of Units Installed) 1980s-
2009 ............................................................................................................................. 55
Figure 39: The US Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009 ........ 56

Page 7

Figure 40: The UK Fuel Cells Market, Cumulative Installations (Number of Units Installed) 2002-
2009 ............................................................................................................................. 57
Figure 41: The UK Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009 ........ 58
Figure 42: Germany Fuel Cells Market, National Innovation Program .......................................... 59
Figure 43: Germany Fuel Cells Market, The H2 Mobility Scheme, 2009....................................... 60
Figure 44: Germany Fuel Cells Market, Annual Installations (Number of Units Installed) 1990s-
2009 ............................................................................................................................. 60
Figure 45: Germany Fuel Cells Market, Cumulative Installations (Number of Units Installed)
1980s-2009 .................................................................................................................. 62
Figure 46: Germany Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009...... 63
Figure 47: Japan Fuel Cells Market, Cumulative Installations (Number of Units Installed) 1980s-
2009 ............................................................................................................................. 64
Figure 48: Japan Fuel Cells Market, Cumulative Installations (Number of Units Installed) 2002-
2009 ............................................................................................................................. 65
Figure 49: Japan Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009............ 66
Figure 50: Germany Fuel Cells Market, The H2 Mobility Scheme, 2009........................................ 67
Figure 51: GBI Research Methodology .......................................................................................... 77

Page 8

Figure 3: Global Stationary Fuel Cells Market, Purchase Criteria, 2009

Efficiency

Branding Stationary Pricing
Fuel Cells

Value-added
Distribution

Source: GBI Research

2.2.4 Fuel Cell Installations
The number of
installations has gone up Fuel cell installations have grown at a high pace since the 1980s when they were first installed. The
from seven units in the number of installations has gone up from seven units in the 1980s to over XXXX units by 2009.
1980s to over 2,500 units Annual fuel cell installations gathered pace in the 2000s with the highest number of fuel cells being
by 2009 installed in 2005 (XXX units) due to high investments during that period coupled with the initiation
of clean development mechanisms by various countries across the globe. This growth in the

Page 15

Figure 6: Global Fuel Cells Market, Growth in Number of Fuel Cell Units Installed, 2015F

Number of Fuel Cells Installed to Rise Rapidly
2015F

Hundreds
of
Thousands
2009E Units Installed
Per Year
>2,500


PEM fuel cells dominate 2.2.4.3 Installations by Cell Type
the total fuel cell
installations in the global PEM fuel cells dominate the total fuel cell installations in the global market with a share of
market with a share of
XXX%, followed by SOFC
(XXX %) and PAFC
(XXX %)
Figure 7: Global Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009

DMFC AFC
MCFC Other

PAFC

PEM

SOFC


Table 3: Global Fuel Cells Market, Cumulative Installations by Fuel Cell Type (%) 2009
Cell Type Share (%)
PEM
SOFC
PAFC
MCFC
DMFC
AFC
Other

Page 18

3.3 Market Share Analysis in Transportation Sector
The fuel cell market for
application in light duty 3.3.1 Market Share Analysis, Light Duty Vehicles
vehicles (small vehicles
such as cars) is extremely The fuel cell market for application in light duty vehicles (small vehicles such as cars) is extremely
fragmented with the fragmented with the largest manufacturer of fuel cell vehicle, Daimler, having a market share of
largest manufacturer of XXX% and XXX% of market belonging to various manufacturers. The majority of light duty vehicles
fuel cell vehicle, Daimler, use PEM fuel cells.
having a market share of
Figure 15: Global Fuel Cells Market, Market Share Analysis for Manufacturers of Fuel Cell
XX% and XX% of market
Light Duty Vehicles (%) 2009
belonging to various
manufacturers.
Daimler

Others
General Motors

Honda

Toyota
Ford Motor
Volkswagen
Company


Table 11: Global Fuel Cells Market, Market Share Analysis for Manufacturers of Fuel Cell
Light Duty Vehicles (%) 2009
Auto Manufacturer Share (%)
Daimler
General Motors
Honda
Toyota
Volkswagen
Ford Motor Company
Hyundai
Suzuki
Nissan
PSA Peugeot Citroen
Shanghai Automotive Industry Corp.
Others

Ballard, a manufacturer of PEM fuel cells, holds the largest market for fuel cells for light duty
vehicles. The company accounts for XX% of the total fuel cells manufactured for this segment of
the market. Ballard is followed by General Motors with a share of XX% and Toyota with a share of
XX%.

Page 29

11 Appendix
11.1 Abbreviations
Table 58: Abbreviations ( in alphabetical order )
Acronyms Expanded Form
°C Degree Celsius
°F Degrees Fahrenheit
AFC Alkaline Fuel Cells
AMT Alternative Minimum Tax
APU Auxiliary Power Units
CHP Combined Heat and Power
CO2 Carbon Dioxide
DMFC Direct Methanol Fuel Cell
DoD Department of Defense
DoE Department of Energy
ITC Invest Tax Credit
JHFC Japan Fuel Hydrogen & Fuel Cell Demonstration Project
kW Kilo Watt
LPG Liquefied Petroleum Gas
MCFC Molten Carbonate Fuel Cell
MFC Microbial Fuel Cell
MRFC Mixed Reactant Fuel Cell
MW Mega Watt
NASA National Aeronautics and Space Administration
NETL National Energy Technology Laboratory
NIP National Hydrogen and Fuel Cell Technology Innovation Program
PAFC Phosphoric Acid Fuel Cell
PCFC Protonic Ceramic Fuel Cell
PEM Proton Exchange Membrane Fuel Cell
R&D Research and Development
RFC Regenerative Fuel Cell
SOFC Solid Oxide Fuel Cell
UPS Uninterrupted Power Supply
UTC United Technologies Corporation
W Watt
ZAFC Zinc Air Fuel Cell

Page 76

11.2 Methodology
GBI Research dedicated Research and Analysis Teams consists of experienced professionals with
a pedigree in marketing, market research, consulting background in the energy industry and
advanced statistical expertise.
GBI Research adheres to the Codes of Practice of the Market Research Society (www.mrs.org.uk)
and the Society of Competitive Intelligence Professionals (www.scip.org).
All GBI Research databases are continuously updated and revised. The following research
methodology is followed for all databases and reports

Figure 51: GBI Research Methodology


11.2.1 Coverage
 The objective of updating GBI Research coverage is to ensure that it represents the most up to
date vision of the industry possible.
 Changes the industry taxonomy are built on the basis of extensive research of company,
association and competitor sources.
 Company coverage is based on three key factors: market capitalization, revenues and media
attention/innovation/ market potential.
a) An exhaustive search of 56 member exchanges is conducted and companies are
prioritized on the basis of their market capitalization.
b) The estimated revenues of all major companies, including private and governmental, are
gathered and used to prioritize coverage.
c) Companies which are making the news, or which are of particular interest due to their
innovative approach are prioritized.
 GBI Research aims to cover all major news events and deals in the alternative energy
industry, updated on a daily basis.
 The coverage is further streamlined and strengthened with additional inputs from GBI
Research Expert Panel (see below).

Page 77

11.2.2 Secondary Research
 The research process begins with exhaustive secondary research on internal and external
sources being carried out to source qualitative and quantitative information relating to each
market.
 The secondary research sources that are typically referred to include, but are not limited to
a) Company websites, annual reports, financial reports, broker reports, investor
presentations and SEC Filings
b) Industry trade journals and other literature
 Internal and external proprietary databases
 National government documents, statistical databases and market reports
 News articles, press releases
11.2.3 Primary Research
 GBI Research conducts hundreds of primary interviews a year with industry participants and
commentators in order to validate its data and analysis. A typical research interview fulfills the
following functions:
a) It provides first-hand information on the market size, market trends, growth trends,
competitive landscape, future outlook etc
b) Helps in validating and strengthening the secondary research findings
c) Further develops the Analyses Team’s expertise and market understanding
 Primary research involves E-mail interactions, telephonic interviews as well as face-to-face
interviews for each market, category, segment and sub-segment across geographies.
 The participants who typically take part in such a process include, but are not limited to:
a) Industry participants: CEOs, VPs, business development managers, market intelligence
managers and national sales managers
b) Outside experts: Investment Bankers, Valuation Experts, Research Analysts and key
opinion leaders specializing in alternative energy industry
11.2.4 Expert Panel Validation
GBI Research uses a panel of experts to cross verify research and forecast methodologies, and
drive its analytical content.
The GBI Research expert panel comprises of marketing managers, product specialists,
international sales managers from alternative energy companies; academics from research
universities and consultants from professional services companies. Details of the make up of the
expert panel can be viewed through website, and are available to clients on request.

11.3 Contact Us
If you have any queries about this report or would like further information, please contact
 North America: +1 646 395 5460
 Europe: +44 207 753 4298 (OR) +44 161 227 0669
 Asia Pacific: +91 40 6616 6700
 Email: info@gbiresearch.com

11.4 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, GBI Research.

Page 78

The facts of this report are believed to be correct at the time of publication but cannot be
guaranteed. Please note that the findings, conclusions and recommendations that GBI Research
delivers will be based on information gathered in good faith from both primary and secondary
sources, whose accuracy we are not always in a position to guarantee. As such GBI Research can
accept no liability whatever for actions taken based on any information that may subsequently
prove to be incorrect.

Page 79

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