According to analysts at Technavio, the global fuel cell market is expected to grow at an impressive CAGR of nearly 23% by 2020. This can be attributed to the increased adoption of fuel cell vehicles, for the purpose of efficient and powerful energy production. Currently, APAC is dominating the market as a result of being more in tune with reducing energy consumption, a major issue in the region, especially for countries like China. There is equal competition between vendors, all of whom are trying to retain their share of the market by diversifying their product portfolios and expanding their R&D efforts.

In this blog, we present some of the top vendors in the global Fuel cell market, as identified by Technavio’s analysts.

Ballard Power Systems

Ballard Power Systems is a developer and manufacturer of proton exchange membrane (PEM) fuel cell products for markets such as heavy-duty, portable power, material handling as well as technology solutions including engineering services. Ballard has designed and shipped over 250 MW of fuel cell products to date. Ballard was founded in 1979 under the name Ballard Research Inc. to conduct research and development on high-Energy lithium batteries.
 

Bloom Energy

Bloom Energy, founded in 2001, is headquartered in California. Its unique on-site power generation systems utilize an innovative new fuel cell energy technology with roots in NASA's Mars program. Its Energy Servers® are among the most efficient energy generators on the planet; providing for significantly reduced electricity costs and dramatically reduced greenhouse gas emissions. By generating power on-site, where it is consumed, Bloom Energy offers increased electrical reliability and improved energy security, providing a clear path to energy independence.
 

Nuvera Fuel Cells

Nuvera Fuel Cells, Inc., founded in 1997, designs and manufactures fuel cell systems, and hydrogen generation and dispensing products for end users and OEMs. It provides hydrogen generation appliances, proton exchange membrane fuel cell stacks, and forklift solutions. The company offers its products for aerospace, automotive, industrial gas, and industrial mobility markets worldwide. As of December 18, 2014, Nuvera Fuel Cells, Inc. operates as a subsidiary of NACCO Materials Handling Group, Inc.
 

SFC Energy

SFC Energy is a world leading group of companies for mobile energy solutions and power management in industry, defense and consumer markets with key focus on the oil & gas industry. SFC Energy develops, produces and globally distributes higher level power management components, e.g. converters and switched mode power supplies. With thousands of fuel cells sold, the company has successfully and globally established fully commercialized and award winning products. The products increasingly are delivered as power supply system solutions according to customer requirements.
 

ACAL

Acal designs, manufactures and distributes customer-specific electronic components to over 25,000 companies around the world, supplying customers in the transportation, medical, renewable energy, industrial, communications and defence sectors. Working with selected technologies, the Group helps customers solve technical challenges and innovate by creating application specific product designs.  Acal has operating companies and manufacturing facilities in many European and Asian markets.
 

Acumentrics

Acumentrics, Inc., headquartered in  Massachusetts, has been a trusted market leader in RUPS™ (rugged AC and DC uninterruptible  power sources) for harsh and combat environments as well as heavy-duty industrial applications, since 1994.  RUPS™ products provide clean power conditioning and battery backup when reliability is mission-critical. Acumentrics is a preferred supplier of US-made power electronics to many of the world’s largest prime defense contractors.
 

Aisin

Aisin Seiki Co., Ltd., also known as Aisin, is a Japanese corporation which develops and produces components and systems for the automotive industry.  Aisin Seiki was founded in 1949 and currently supplies engine, drivetrain, body and chassis, aftermarket, and other main automotive parts for various major OEMs. In addition to partaking in the automotive markets, Aisin also offers life & amenity products (e.g. furniture and sewing machines), energy systems, welfare products, and other products/services.
 

Altergy Systems

Altergy is the global leader in reliable backup power solutions for telecom and critical power applications, and delivers proven fuel cell technology that provides on-demand power for extended runtimes with zero emissions. Altergy has developed advanced Proton Exchange Membrane (PEM) fuel cell technology that can provide uninterrupted power at the source, and do so with zero emissions and a significantly lower total cost of ownership.
 

Ceres Power

Ceres Power Holdings PLC is a world leading developer of low cost, next generation fuel cell technology. Used in decentralised energy products, the company's Steel Cells enable a change in the way homes and businesses generate their power, reducing energy costs, lowering CO2 emissions, increasing efficiency and improving energy security and reliability. The Ceres Steel Cell operates on natural gas and is manufactured using conventional materials such as steel and standard processes developed for the solar industry
 

Delphi Automotive Systems

Delphi Automotive is a high-technology company that integrates safer, greener and more connected solutions for the automotive sector. Headquartered in Gillingham, U.K., Delphi operates technical centers, manufacturing sites and customer support services in 44 countries.
 

DMFCC

Direct Methanol Fuel Cell Corporation develops and manufactures disposable methanol fuel cartridges that provide the energy source for fuel cell powered notebook computers, mobile phones, military equipment and other applications being developed by electronics OEMs, such as Samsung and Toshiba, and other companies. DMFCC has licensed an extensive portfolio of direct methanol fuel cell patents from Pasadena-based California Institute of Technology (Caltech) and the University of Southern California (USC). 
 

Doosan

Doosan Heavy Industries & Construction owns core technologies and ongoing performance with the three core components of the power generation business - boilers, turbines and generators. Doosan is also making substantial inroads into the eco-friendly power generation business including wind power, ESS (Energy Storage System) and microgrid. Doosan Corporation Fuel Cell has a full lineup of products, from power generation to residential use, based on its proprietary fuel cell technologies. The company provides environmentally-friendly power generation solutions that reduce carbon emissions and minimize air and noise pollution, while guaranteeing high-efficiency.
 

ElectroChem

ElectroChem Inc. is a pioneer in fuel cell research and development with 50 years of experience in the field. Its innovative research has resulted in many patents and trade secrets. Due to the company’s initial focus on Research & Development, ElectroChem has been able to identify market opportunities for new products for researchers.

Want to find out which other companies made the list?

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