This research service analyzes the current market trends, revenue distribution, competitive structure, market challenges, drivers and restraints, and market share analysis for the stationary and portable fuel cell markets in North Asia, Southeast Asia, and Australia and New Zealand.
This Frost & Sullivan research service titled Asia Pacific Fuel Cells Markets provides revenue forecast, market dynamics, and market trends. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: stationary fuel cell (residential cogeneration; hospitals, commercial buildings, hotels, datacenters, and other backup; power applications; and backup/auxiliary and industrial power) and portable fuel cell (backup/auxiliary and industrial power; military; leisure; and others).
Market Overview
Asia Pacific Fuel Cells Markets – Still Taxiing or Taking Off for a Smooth Ascent?
Asia Pacific (APAC) has emerged a happy hunting ground for producers of renewable power due to its favorable topography and the ambitious renewable energy targets set by most nations. Many countries aim to have 8 percent to 20 percent of renewable energy in their energy mix by 2020 to 2025, as green energy has, of late, become a talking point among governments all over the world. Furthermore, supporting legislation, environmental concerns, and international interest in APAC countries’ potential are causing investors to flock to clean development mechanism (CDM) power generation projects. Fuel cells are one such investment destination. “As with any other new product, the initial costs of technology, low end-user awareness, and the lack of a proven track record of continuous and reliable operations restrict the degree of adoption of fuel cells,” says the analyst of this research. “However, given the technical qualities of the product, the application potential for fuel cells is enormous.”
The fuel cells market is currently holding on to its market position mainly on the strength of government subsides, incentives, and favorable policies. The eventual adoption of fuel cell as the power type of choice will depend on how aggressively and effectively local governments market it. In Japan, the Ministry of Economy, Trade and Industry (METI) is running a millennium project on automotive and residential fuel cell markets. In 2009, the emphasis of the third phase of the project is on the commercialization of fuel cells – on creating positive market conditions to motivate mass adoption. Meanwhile, the Ministry of Knowledge Economy (MKE) in South Korea is supporting the extended trials and diffusion of the product to stimulate wider uptake. While ANZ and several SEA countries are still in the planning phase of fuel cell technology rollouts, Singapore, Malaysia, and Thailand are active in fuel cells R&D. In SEA, the pride of place goes to Singapore, with its government striving to position the country as a regional hub for fuel cell technology R&D and application.
However, the demand is still limited from the other countries in the region due to inadequate assistance from the governments and the high initial costs of the technology. Moreover, fuel cells have an added disadvantage of competing with mature products such as diesel and gas engines, generator sets, and batteries. Therefore, along with technological advancements, fuel cell companies also have to aggressively educate customers about the benefits of fuel cell technology. “At the moment, other renewable energy technologies such as solar panels and wind turbines are seen to have higher potential in the immediate future, while fuel cell technology has to be monitored until it is ready to be introduced to the mass market,” notes the analyst. “Fuel cells’ costs need to come down tenfold and the number of years of operation needs to double to be competitive in the mass market.” Given the recent trends in fuel cells technology development, mass market adoption in the Asia Pacific is forecast to take off by 2015 for stationary fuel cells, and by 2020 for portable fuel cells.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Product Segments:
Stationary fuel cell - Residential cogeneration - Hospitals, commercial buildings, hotels, datacenters, and other backup - Power applications - Backup/auxiliary and industrial power
Portable fuel cell - Backup/auxiliary and industrial power - Military - Leisure - Other
By Geographic Region: - Japan - South Korea - Singapore - Australia - New Zealand - Thailand - Indonesia - Malaysia
Technologies
The following technologies are covered in this research: - Phosphoric acid fuel cell (PAFC) - Molten carbonate fuel cell (MCFC) - Solid oxide fuel cell (SOFC) - Proton exchange membrane fuel cell (PEMFC)
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