Prepared for Mike W. | Delivered October 27, 2020
Hydrogen Fuel Cells Competitors
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To provide an understanding of the competitive environment of companies that generate/produce hydrogen for fuel cells, with a special focus on competitors for SunHydrogen.
Overview of Competition in the Hydrogen Generation Industry
The industry is considered
and has low barriers to entry.
The top three companies in the hydrogen fuel cell market made up
more than 46%
of the market share in 2015, and they are Ballard Power Systems Inc.:
, and Plug Power:
"The majority of large corporations are
in Japan and South Korea, and North America."
Many of the companies involved in the hydrogen and fuel cell technology are
not profitable yet
Bloom Energy is considered one of the best performing players in the space with a
positive cash flow
and a rise in its stock price of
in 2020. In the last year, the company has "generated nearly
60% more revenue
than its three major rivals combined."
Smaller and emerging companies face
from large corporations/big players, "including government-backed rivals in China and deep-pocketed manufacturers, such as Cummins (CMI)."
SunHydrogen categorizes its competitors as:
Companies that are leading players in the industry, overall, such as
Air Products and Chemicals Inc.
This is verified by industry reports, such as
that consider these two companies to be among the dominant players in the hydrogen generation market.
Companies that produce renewable hydrogen fuel through electrolyzers powered by solar or wind such as
(which is a subsidiary of
) which are two of the largest companies in this industry.
Summary of Findings
In this preliminary hour of research, we provided some insights that provide an overview of the competitive environment for companies in the hydrogen fuel cells market. We also provided the key competitors of SunHydrogen based on the company's self-analysis.
Due to time constraints we were not able to provide any further information on these companies, or give additional competitors for the company.
Our suggestion for further research is detailed below: