Fuel Cell Market With Current Trends Analysis,2014-2020 FMI | Page 5

Report
Description
Report Description
Institutional organizations such as Sandia National Laboratories and the University of the
Basque Country (UPV/EHV) are constantly conducting extensive research in order to
improve the efficiency of fuel cells. Key players (manufacturers) in the industry adopt
strategies such alliances and partnerships to expand their product lines. Furthermore,
strategic alliances are helping market players to penetrate into relatively newer
application areas. Fuel cell manufacturers are also involved in enhancement of product
offerings. For example, Ballard Power Systems, Inc. and Plug Power, Inc. signed an
agreement to supply fuel cell stacks to Plug Power, Inc. for three years to be used in
forklift trucks. Fuel cell manufacturers are also involved in the operational expansion
through the setting up of new plants. Recently, Daimler AG and The Linde Group entered
into strategic alliance to build hydrogen fuelling stations in Germany. Such initiatives are
helpful to commercialize fuel cell application in the transportation sector. Furthermore,
fuel cell-powered vehicles require hydrogen filling stations, and with such initiatives, it is
possible to commercialize fuel cell-powered automobiles.
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Dominant market participants in the fuel cell market are Toshiba Corporation, Panasonic
Corporation, Hydrogenics Corporation, Kyocera, AFC Energy, Ballard Power Systems, Inc.,
Ceres Power Holdings PLC, Aisin Seiki Co. Ltd., Ceramic Fuel Cells Limited and Doosan
Corporation.