TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 19
2 MARKET INTRODUCTION 21
2.1 DEFINITION 21
2.2 SCOPE OF THE STUDY, 21
2.3 RESEARCH OBJECTIVE 21
2.4 MARKET STRUCTURE 22
3 RESEARCH METHODOLOGY 23
3.1 OVERVIEW 23
3.2 DATA FLOW 25
3.2.1 DATA MINING PROCESS 25
3.3 PURCHASED DATABASE: 26
3.4 SECONDARY SOURCES: 27
3.4.1 SECONDARY RESEARCH DATA FLOW: 28
3.5 PRIMARY RESEARCH: 29
3.5.1 PRIMARY RESEARCH DATA FLOW: 30
3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED 31
3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE 31
3.6 APPROACHES FOR MARKET SIZE ESTIMATION: 32
3.6.1 REVENUE ANALYSIS APPROCH 32
3.6.2 REVENUE ANALYSIS APPROACH 32
3.7 DATA FORECASTING 33
3.7.1 DATA FORECASTING TECHNIQUE 33
3.8 DATA MODELING 34
3.8.1 MICROECONOMIC FACTOR ANALYSIS: 34
3.8.2 DATA MODELING: 35
4 MARKET DYNAMICS 37
4.1 INTRODUCTION 37
4.2 DRIVERS 38
4.2.1 INCREASING INVESTMENTS ARE BEING MADE ON THE DEVELOPMENT OF ALTERNATE PROPULSION SYSTEMS. 38
4.2.2 INCREASE IN BUNKER FUEL OIL PRICES. 38
4.2.3 TECHNOLOGICAL ADVANCEMENTS IN MARINE FUEL CELL 39
4.3 RESTRAINTS 40
4.3.1 ISSUES RELATED WITH DESIGNING PROPULSION SYSTEMS 40
4.3.2 HIGH CAPITAL COSTS AND LOW LIFETIME OF FUEL CELL STACKS 41
4.4 OPPORTUNITY 42
4.4.1 INTEGRATION OF FUEL CELLS WITH TRADITIONAL ENGINES FOR OPTIMAL EFFICIENCY AND EMISSION REDUCTION 42
4.4.2 IMPLEMENTATION OF HYDROGEN REFUELLING INFRASTRUCTURE TO SUPPORT FUEL CELL-POWERED VESSELS 42
4.4.3 PARTNERSHIPS AND COLLABORATIONS ACROSS THE VALUE CHAIN 43
4.4.4 HYBRIDIZATION WITH RENEWABLE ENERGY SOURCES 44
4.5 COVID-19 IMPACT ANALYSIS 45
4.5.1 IMPACT ON DEMAND FOR FUEL CELLS FOR MARINE VESSELS 45
4.5.2 IMPACT ON GLOBAL VALUE CHAINS 45
4.5.3 IMPACT ON DEMAND FROM EMERGING ECONOMIES 45
5 MARKET FACTOR ANALYSIS 46
5.1 SUPPLY CHAIN ANALYSIS 46
5.1.1 RESEARCH & DEVELOPMENT 46
5.1.2 RAW MATERIAL SUPPLY 47
5.1.3 MANUFACTURER & ASSEMBLY 47
5.1.4 SALES & DISTRIBUTION 47
5.1.5 END USERS 47
5.2 PORTER'S FIVE FORCES MODEL 48
5.2.1 THREAT OF NEW ENTRANTS 48
5.2.2 BARGAINING POWER OF SUPPLIERS 49
5.2.3 THREAT OF SUBSTITUTES 49
5.2.4 BARGAINING POWER OF BUYERS 49
5.2.5 INTENSITY OF RIVALRY 49
5.3 MARKET TRENDS 50
5.3.1 HYDROGEN-POWERED PROPULSION SYSTEMS 50
5.3.2 FOCUS ON GREEN SHIPPING 50
5.3.3 APPLICATION IN FERRIES AND SHORT-SEA SHIPPING 50
5.3.4 RESEARCH AND DEVELOPMENT INITIATIVES 50
5.3.5 GOVERNMENT SUPPORT AND REGULATORY DRIVERS 50
5.3.6 COLLABORATIONS AND PARTNERSHIPS 50
5.3.7 DEMONSTRATION PROJECTS AND PILOT PROGRAMS 50
5.3.8 ADVANCEMENTS IN FUEL CELL COMPONENTS 51
5.3.9 INFRASTRUCTURE DEVELOPMENT FOR HYDROGEN SUPPLY 51
5.3.10 GLOBAL INDUSTRY AWARENESS 51
5.4 MARKET SWOT ANALYSIS 51
5.4.1 STRENGTHS 52
5.4.1.1 ENVIRONMENTAL SUSTAINABILITY 52
5.4.1.2 EFFICIENCY AND PERFORMANCE 52
5.4.1.3 QUIET OPERATION 52
5.4.1.4 DIVERSE APPLICATIONS 52
5.4.1.5 POTENTIAL FOR DECENTRALIZED POWER 52
5.4.2 WEAKNESSES 52
5.4.2.1 HIGH INITIAL COSTS 52
5.4.2.2 LIMITED HYDROGEN INFRASTRUCTURE 52
5.4.2.3 TECHNOLOGICAL MATURITY 52
5.4.2.4 HYDROGEN STORAGE CHALLENGES 53
5.4.3 OPPORTUNITIES 53
5.4.3.1 GOVERNMENT INCENTIVES AND REGULATIONS 53
5.4.3.2 GROWING ENVIRONMENTAL AWARENESS 53
5.4.3.3 ADVANCEMENTS IN HYDROGEN PRODUCTION 53
5.4.3.4 PARTNERSHIPS AND COLLABORATIONS 53
5.4.4 THREATS 53
5.4.4.1 COMPETITION FROM ALTERNATIVE TECHNOLOGIES 53
5.4.4.2 INFRASTRUCTURE DEVELOPMENT CHALLENGES 53
5.4.4.3 ECONOMIC UNCERTAINTIES 54
5.4.4.4 PUBLIC PERCEPTION AND ACCEPTANCE 54
5.5 MARKET PESTEL ANALYSIS 54
5.5.1 POLITICAL FACTORS 54
5.5.1.1 GOVERNMENT POLICIES AND INCENTIVES 54
5.5.1.2 REGULATORY FRAMEWORKS 54
5.5.2 ECONOMIC FACTORS 54
5.5.2.1 INITIAL INVESTMENT COSTS 54
5.5.2.2 COST OF HYDROGEN PRODUCTION 54
5.5.3 SOCIAL FACTORS 55
5.5.3.1 ENVIRONMENTAL AWARENESS 55
5.5.3.2 PUBLIC PERCEPTION 55
5.5.4 TECHNOLOGICAL FACTORS 55
5.5.4.1 ADVANCEMENTS IN FUEL CELL TECHNOLOGY 55
5.5.4.2 HYDROGEN STORAGE TECHNOLOGIES 55
5.5.5 ENVIRONMENTAL FACTORS 55
5.5.5.1 EMISSIONS REDUCTION TARGETS 55
5.5.5.2 SUSTAINABILITY INITIATIVES 55
5.5.6 LEGAL FACTORS 56
5.5.6.1 EMISSION STANDARDS AND REGULATIONS: 56
5.5.6.2 SAFETY REGULATIONS 56
6 GLOBAL FUEL CELLS FOR MARINE VESSELS MARKET, BY TYPE 57
6.1 OVERVIEW 57
6.2 POLYMER ELECTROLYTE MEMBRANE FUEL CELL (PEMFC) 59
6.3 MOLTEN CARBONATE FUEL CELL (MCFCS) 59
6.4 SOLID OXIDE FUEL CELL (SOFC) 59
6.5 DIRECT METHANOL FUEL (DMFC) 60
6.6 PHOSPHORIC ACID FUEL CELL (PAFC) 60
6.7 ALKALINE FUEL CELL 60
7 GLOBAL FUEL CELLS FOR MARINE VESSELS MARKET, BY APPLICATION 61
7.1 INTRODUCTION 61
7.2 COMMERCIAL 62
7.3 DEFENSE 62
8 GLOBAL FUEL CELLS FOR MARINE VESSELS MARKET, BY POWER OUTPUT 63
8.1 INTRODUCTION 63
8.2 200 KW 64
8.3 >200 KW 64
9 GLOBAL FUEL CELLS FOR MARINE VESSELS MARKET, BY REGION 65
9.1 OVERVIEW 65
9.1.1 GLOBAL FUEL CELLS FOR MARINE VESSELS MARKET, BY REGION, 2024 VS 2032 (USD MILLION) 65
9.1.2 GLOBAL FUEL CELLS FOR MARINE VESSELS MARKET, BY REGION, 2024–2032 (USD MILLION) 66
9.2 NORTH AMERICA 66
9.2.1 US 69
9.2.2 CANADA 70
9.2.3 MEXICO 71
9.3 EUROPE 72
9.3.1 UK 75
9.3.2 GERMANY 76
9.3.3 FRANCE 77
9.3.4 ITALY 78
9.3.5 SPAIN 79
9.3.6 NETHERLAND 80
9.3.7 TURKEY 81
9.3.8 NORWAY 82
9.3.9 REST OF EUROPE 83
9.4 ASIA-PACIFIC 84
9.4.1 CHINA 87
9.4.2 JAPAN 88
9.4.3 INDIA 89
9.4.4 SOUTH KOREA 90
9.4.5 AUSTRALIA 91
9.4.6 SINGAPORE 92
9.4.7 MALAYSIA 93
9.4.8 REST OF ASIA-PACIFIC 94
9.5 MIDDLE EAST & AFRICA 95
9.5.1 SAUDI ARABIA 97
9.5.2 UAE 98
9.5.3 QATAR 99
9.5.4 SOUTH AFRICA 100
9.5.5 NIGERIA 101
9.5.6 REST OF MEA 102
9.6 SOUTH AMERICA 103
9.6.1 BRAZIL 106
9.6.2 ARGENTINA 107
9.6.3 CHILE 108
9.6.4 REST OF SOUTH AMERICA 109
10 COMPETITIVE LANDSCAPE 110
10.1 INTRODUCTION 110
10.2 MARKET SHARE ANALYSIS, 2024 110
10.3 COMPETITOR DASHBOARD 111
10.4 KEY DEVELOPMENTS & GROWTH STRATEGIES 112
10.4.1 PRODUCT LAUNCH/PRODUCT APPROVAL/PRODUCT DEVELOPMET 112
10.4.2 PARTNERSHIP/INVESTMENT/COLLABORATION 112
10.4.3 MERGER AND ACQUISITION/OTHERS 115
11 COMPANY PROFILE 118
11.1 BALLARD POWER SYSTEMS 118
11.1.1 COMPANY OVERVIEW 118
11.1.2 FINANCIAL OVERVIEW 119
11.1.3 PRODUCTS OFFERED 119
11.1.4 KEY DEVELOPMENTSS 120
11.1.5 SWOT ANALYSIS 121
11.1.6 KEY STRATEGIES 121
11.2 MEYER WERFT GMBH & CO KG (MEYER WERFT) 122
11.2.1 COMPANY OVERVIEW 122
11.2.2 FINANCIAL OVERVIEW 122
11.2.3 PRODUCTS OFFERED 122
11.2.4 KEY DEVELOPMENTS 123
11.2.5 SWOT ANALYSIS 124
11.2.6 KEY STRATEGIES 124
11.3 NUVERA FUEL CELLS LLC 125
11.3.1 COMPANY OVERVIEW 125
11.3.2 FINANCIAL OVERVIEW 125
11.3.3 PRODUCTS OFFERED 125
11.3.4 KEY DEVELOPMENTS 126
11.3.5 SWOT ANALYSIS 127
11.3.6 KEY STRATEGIES 127
11.4 POWERCELL GROUP 128
11.4.1 COMPANY OVERVIEW 128
11.4.2 FINANCIAL OVERVIEW 129
11.4.3 PRODUCTS OFFERED 129
11.4.4 KEY DEVELOPMENTS 130
11.4.5 SWOT ANALYSIS 130
11.4.6 KEY STRATEGIES 131
11.5 SIEMENS 132
11.5.1 COMPANY OVERVIEW 132
11.5.2 FINANCIAL OVERVIEW 133
11.5.3 PRODUCTS OFFERED 133
11.5.4 KEY DEVELOPMENTS 134
11.5.5 SWOT ANALYSIS 134
11.5.6 KEY STRATEGIES 135
11.6 PROTON MOTOR GMBH 136
11.6.1 COMPANY OVERVIEW 136
11.6.2 FINANCIAL OVERVIEW 137
11.6.3 PRODUCTS OFFERED 137
11.6.4 KEY DEVELOPMENTS 138
11.6.5 SWOT ANALYSIS 139
11.6.6 KEY STRATEGIES 139
11.7 CUMMINS INC. 140
11.7.1 COMPANY OVERVIEW 140
11.7.2 FINANCIAL OVERVIEW 141
11.7.3 PRODUCTS OFFERED 141
11.7.4 KEY DEVELOPMENTS 142
11.7.5 SWOT ANALYSIS 142
11.7.6 KEY STRATEGIES 143
11.8 TOSHIBA CORPORATION 144
11.8.1 COMPANY OVERVIEW 144
11.8.2 FINANCIAL OVERVIEW 145
11.8.3 PRODUCTS OFFERED 145
11.8.4 KEY DEVELOPMENTS 146
11.8.5 SWOT ANALYSIS 147
11.8.6 KEY STRATEGIES 147
11.9 GENERAL ELECTRIC (GE) 148
11.9.1 COMPANY OVERVIEW 148
11.9.2 FINANCIAL OVERVIEW 149
11.9.3 PRODUCTS OFFERED 149
11.9.4 KEY DEVELOPMENTS 150
11.9.5 SWOT ANALYSIS 150
11.9.6 KEY STRATEGIES 151
11.10 ADVENT TECHNOLOGIES 152
11.10.1 COMPANY OVERVIEW 152
11.10.2 FINANCIAL OVERVIEW 153
11.10.3 PRODUCTS OFFERED 153
11.10.4 KEY DEVELOPMENTS 154
11.10.5 SWOT ANALYSIS 155
11.10.6 KEY STRATEGIES 155
11.11 DOOSAN FUEL CELL CO., LTD. (DOOSAN CORPORATION) 156
11.11.1 COMPANY OVERVIEW 156
11.11.2 FINANCIAL OVERVIEW 157
11.11.3 PRODUCTS OFFERED 157
11.11.4 KEY DEVELOPMENTSS 158
11.11.5 SWOT ANALYSIS 158
11.11.6 KEY STRATEGIES 159
11.12 HYUNDAI MOTOR COMPANY 160
11.12.1 COMPANY OVERVIEW 160
11.12.2 FINANCIAL OVERVIEW 161
11.12.3 PRODUCTS OFFERED 161
11.12.4 KEY DEVELOPMENTSS 162
11.12.5 SWOT ANALYSIS 162
11.12.6 KEY STRATEGIES 163
11.13 ROLLS-ROYCE HOLDINGS PLC 164
11.13.1 COMPANY OVERVIEW 164
11.13.2 FINANCIAL OVERVIEW 165
11.13.3 PRODUCTS OFFERED 165
11.13.4 KEY DEVELOPMENTSS 166
11.13.5 SWOT ANALYSIS 166
11.13.6 KEY STRATEGIES 167
11.14 TOYOTA MOTOR EUROPE NV/SA (TOYOTA) 168
11.14.1 COMPANY OVERVIEW 168
11.14.2 FINANCIAL OVERVIEW 169
11.14.3 PRODUCTS OFFERED 169
11.14.4 KEY DEVELOPMENTSS 170
11.14.5 SWOT ANALYSIS 170
11.14.6 KEY STRATEGIES 171
LIST OF TABLES
TABLE 1 QFD MODELING FOR MARKET SHARE ASSESSMENT 35
TABLE 2 GLOBAL FUEL CELLS FOR MARINE VESSELS MARKET, BY TYPE, 2024-2032 (USD MILLION) 58
TABLE 3 GLOBAL FUEL CELLS FOR MARINE VESSELS MARKET, BY APPLICATION, 2024-2032 (USD MILLION) 62
TABLE 4 GLOBAL FUEL CELLS FOR MARINE VESSELS MARKET, BY POWER OUTPUT, 2024-2032 (USD MILLION) 64
TABLE 5 GLOBAL FUEL CELLS FOR MARINE VESSELS MARKET, BY REGION, 2024–2032 (USD MILLION) 66
TABLE 6 NORTH AMERICA: FUEL CELLS FOR MARINE VESSELS MARKET, BY COUNTRY, 2024-2032 (USD MILLION) 68
TABLE 7 NORTH AMERICA FUEL CELLS FOR MARINE VESSELS MARKET, BY TYPE, 2024-2032 (USD MILLION) 68
TABLE 8 NORTH AMERICA FUEL CELLS FOR MARINE VESSELS MARKET, BY APPLICATION, 2024-2032 (USD MILLION) 69
TABLE 9 NORTH AMERICA FUEL CELLS FOR MARINE VESSELS MARKET, BY POWER OUTPUT, 2024-2032 (USD MILLION) 69
TABLE 10 US FUEL CELLS FOR MARINE VESSELS MARKET, BY TYPE, 2024-2032 (USD MILLION) 69
TABLE 11 US FUEL CELLS FOR MARINE VESSELS MARKET, BY APPLICATION, 2024-2032 (USD MILLION) 69
TABLE 12 US FUEL CELLS FOR MARINE VESSELS MARKET, BY POWER OUTPUT, 2024-2032 (USD MILLION) 70
TABLE 13 CANADA FUEL CELLS FOR MARINE VESSELS MARKET, BY TYPE, 2024-2032 (USD MILLION) 70
TABLE 14 CANADA FUEL CELLS FOR MARINE VESSELS MARKET, BY APPLICATION, 2024-2032 (USD MILLION) 70
TABLE 15 CANADA FUEL CELLS FOR MARINE VESSELS MARKET, BY POWER OUTPUT, 2024-2032 (USD MILLION) 70
TABLE 16 MEXICO FUEL CELLS FOR MARINE VESSELS MARKET, BY TYPE, 2024-2032 (USD MILLION) 71
TABLE 17 MEXICO FUEL CELLS FOR MARINE VESSELS MARKET, BY APPLICATION, 2024-2032 (USD MILLION) 71
TABLE 18 MEXICO FUEL CELLS FOR MARINE VESSELS MARKET, BY POWER OUTPUT, 2024-2032 (USD MILLION) 71
TABLE 19 EUROPE: FUEL CELLS FOR MARINE VESSELS MARKET, BY COUNTRY, 2024-2032 (USD MILLION) 74
TABLE 20 EUROPE FUEL CELLS FOR MARINE VESSELS MARKET, BY TYPE, 2024-2032 (USD MILLION) 74
TABLE 21 EUROPE FUEL CELLS FOR MARINE VESSELS MARKET, BY APPLICATION, 2024-2032 (USD MILLION) 74
TABLE 22 EUROPE FUEL CELLS FOR MARINE VESSELS MARKET, BY POWER OUTPUT, 2024-2032 (USD MILLION) 75
TABLE 23 UK FUEL CELLS FOR MARINE VESSELS MARKET, BY TYPE, 2024-2032 (USD MILLION) 75
TABLE 24 UK FUEL CELLS FOR MARINE VESSELS MARKET, BY APPLICATION, 2024-2032 (USD MILLION) 75
TABLE 25 UK FUEL CELLS FOR MARINE VESSELS MARKET, BY POWER OUTPUT, 2024-2032 (USD MILLION) 75
TABLE 26 GERMANY FUEL CELLS FOR MARINE VESSELS MARKET, BY TYPE, 2024-2032 (USD MILLION) 76
TABLE 27 GERMANY FUEL CELLS FOR MARINE VESSELS MARKET, BY APPLICATION, 2024-2032 (USD MILLION) 76
TABLE 28 GERMANY FUEL CELLS FOR MARINE VESSELS MARKET, BY POWER OUTPUT, 2024-2032 (USD MILLION) 76
TABLE 29 FRANCE FUEL CELLS FOR MARINE VESSELS MARKET, BY TYPE, 2024-2032 (USD MILLION) 77
TABLE 30 FRANCE FUEL CELLS FOR MARINE VESSELS MARKET, BY APPLICATION, 2024-2032 (USD MILLION) 77
TABLE 31 FRANCE FUEL CELLS FOR MARINE VESSELS MARKET, BY POWER OUTPUT, 2024-2032 (USD MILLION) 77
TABLE 32 ITALY FUEL CELLS FOR MARINE VESSELS MARKET, BY TYPE, 2024-2032 (USD MILLION) 78
