Fuel cells are expected to see significant growth over the next decade, as countries move toward cleaner power to diversify their power mix away from fossil fuels. The market is expected to witness steady growth due to the construction and installation of fuel cell power by companies along with the declining cost of new/existing technologies, leading to increasing installation rates across the globe. North America, led by the US, and Asia, led by Japan and China in the future, are expanding their fuel cell power capacity to introduce the next-generation of energy technology into their economies, increase power generation efficiency, and reduce the opex cost of existing facilities. The author has given three scenarios in which we provide an optimistic, base, and pessimistic cases for the fuel cell market. We have done this because of the challenging nature of forecasting this nascent industry. In the optimistic case scenario, we are forecasting market growth to 1,500 MW by 2030, whereas in the base case and pessimistic cases, we see the market growing to 612 MW and 315 MW, respectively, in 2030 from 214 MW in 2017. The continuation of government subsidies and the emergence of newer chemistries are expected to lead to a reduction in the overall capex costs. This leads to increasing investment by governments and companies alike.
The key market trends have been analyzed for the study period (2017–2030), with the base year being 2018. The study covers North America, Europe, and Asia. The study assesses the latest technologies across the globe and discusses the various price points and features of these technologies. Fierce competition is expected, especially in Asia, from the Japanese, Chinese, and US participants that compete with cheaper and quality products. Some of the companies featured in this study are Bloom Energy, GenCell, Plug Power, and FuelCell Energy.
Key Issues Addressed
- What is the current state of the market, and how strong the market will grow till 2030?
- Which are key countries for fuel cell power, and how are they going to transform the market in the future?
- What are the different technologies that are present in the market, and what is the future for these technologies going forward? What disruptive technologies are expected?
- How is the business model of fuel cell companies going to evolve in the future?
- Where are future investment going to be concentrated, and how much will be invested during the forecast period?
- What is the nature of competition in this market?
1. Executive Summary
- Executive Summary - Optimistic Scenario
- Executive Summary - Base Scenario
- Executive Summary - Pessimistic Scenario
2. Executive Dashboard
- Purpose of this Experiential Study
- 5 Step Process to Transformational Growth
- Strategic Imperatives for Fuel Cell suppliers
3. Growth Environment - Market Overview
- Market Definitions
- Scope of the Study
- Fuel Cell Types
- Drivers and Restraints
- Drivers Explained
- Restraints Explained
- Global Adoption
4. Market Forecasts
- Revenue Forecast by Fuel Cell Type - Optimistic Scenario
- Power Output Forecast by Fuel Cell Type - Optimistic Scenario
- Price Forecast by Fuel Cell Type - Optimistic Scenario
- Optimistic Case Forecast Discussion
- Revenue Forecast by Fuel Cell Type - Base Scenario
- Power Output Forecast by Fuel Cell Type - Base Scenario
- Price Forecast by Fuel Cell Type - Base Scenario
- Base Case Forecast Discussion
- Revenue Forecast by Fuel Type - Pessimistic Scenario
- Power Output Forecast by Fuel Cell Type - Pessimistic Scenario
- Price Forecast by Fuel Cell Type - Pessimistic Scenario
- Pessimistic Case Forecast Discussion
5. Visioning Scenarios
- Macro to Micro Visioning
- Disruptive Technologies
- Industry Mega Trends
- New Business Models
- North America
- Bloom Energy
- Plug Power Inc
- GenCell Ltd.
- FuelCell Energy, Inc.
6. Vision and Strategy - Growth Opportunities
- Growth Opportunity 1 - Business Models
- Growth Opportunity 2 - Business Models and Value-add Services
- Growth Opportunity 3 - New Capabilities and Value-add Services
- Growth Opportunity 4 - Geographic Expansion, Partnerships, and Investment/M&A
- Growth Opportunity 5 - Partnerships and Investment/M&A
- Growth Opportunity 6 - New Capabilities, Partnerships, and Investment/M&A
- Growth Opportunity 7 - Disruptive Applications, Value-add Services and Partnerships
- Strategic Imperatives for Success and Growth
7. Growth Opportunities Matrix
- Identifying Your Company’s Growth Zone
- Growth Opportunities 1–7 - Vision and Strategy
- Growth Opportunities Matrix
8. Growth Strategy and Implementation
- Growth Strategies for Your Company
- Prioritized Opportunities Through Implementation
- Legal Disclaimer
- Abbreviations and Acronyms Used
- List of Exhibits