2021 has been a remarkable year for fuel cells, with around 85,850 units shipped, equating to 2,313 MW, even with COVID still hanging over markets. This represents a 73% increase on 2020 MW shipments. Extending a growing trend, PEM fuel cells in transportation took the lion’s share of units, at roughly 31,950 units, or 1,965 MW in capacity (85% of the total). Hyundai and Toyota dominate the transport shipments and contribute to volatility in the overall numbers. Even the upscaling of the Mirai stack peak output in 2021 now impacts significantly on MW shipments. Shipments of micro-CHP units to the largest markets, Japan and Germany, fell in 2021. In contrast, shipments of fuel cells for larger CHP and prime power grew slowly, to 335 MW in 2021. North America (mainly the US) returned to growth, largely from an increase in fuel cell car shipments to the region. China continues to experience a small hiatus in shipped units as the policy support continued to shift from simple production to coordinated regional plans, which over time are expected to yield large increases in shipped units. Niches such as shipping and aviation are demonstrating growing activity. Overall, the industry is showing favourable signs, with continued investment in capacity by manufacturers and strategic partnerships being formed at greater pace.
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The review contains an analysis of fuel cell shipments by region, type and application year on year, together with a qualitative description of the major developments in the industry over the year, across 83 pages for 2021. We obtain numbers from corresponding companies and aggregate these to ensure the company numbers cannot be extracted from the published data.
We use the data in our technology watch and for clients, including a baseline for our market model into the future.
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