Table of Contents PART 01: Executive summary • Highlights PART 02: Scope of the report • Market overview • Top-vendor offerings PART 03: Market research methodology • Research methodology • Economic indicators PART 04: Introduction • Key market highlights PART 05: Market landscape • Market overview • Market size and forecast • Five forces analysis PART 06: Market segmentation by application • Global fuel cell market for CHP applications by application 2015-2020 • Global fuel cell market for CHP applications in non-residential sector • Global fuel cell market for CHP applications in residential sector PART 07: Market segmentation by product type • Global fuel cell market for CHP applications by product type 2015-2020 • Global fuel cell market for CHP applications by PEMFC • Global fuel cell market for CHP applications by MCFC • Global fuel cell market for CHP applications by SOFC • Global fuel cell market for CHP applications by PAFC PART 08: Geographical segmentation • Global fuel cell market for CHP applications by geography 2015-2020 • Fuel cell market for CHP applications in APAC • Fuel cell market for CHP applications in Americas • Fuel cell market for CHP applications in EMEA PART 09: Key leading countries PART 10: Market drivers • Increasing demand for efficient and cleaner technologies • Rising adoption of fuel cell products • Growing government incentives for FC-CHPs PART 11: Impact of drivers PART 12: Market challenges • Competition from alternative technologies • Uncertainties associated with low crude oil prices • End of subsidies will raise fuel cell costs PART 13: Impact of drivers and challenges PART 14: Market trends • Increase in M&A in fuel cell industry • Reduction in prices of FC-CHPs • Increase in R&D investments and activities PART 15: Vendor landscape • Competitive scenario • Other prominent vendors PART 16: Key vendor analysis • ACAL Energy • Bloom Energy • FuelCell Energy • Viessmann PART 17: Appendix • List of abbreviations PART 18: Explore Technavio List of Exhibits Exhibit 01: Types of FC-CHP by technology Exhibit 02: Types of fuel cells by end-user applications Exhibit 03: Major countries in each region Exhibit 04: Key product offerings Exhibit 05: Market overview Exhibit 06: Comparison of fuel cell technologies Exhibit 07: Fuel cell applications Exhibit 08: Types of SOFCs Exhibit 09: Schematic diagram of SOFC Exhibit 10: Global fuel cell market for CHP applications 2015-2020 (MW shipments) Exhibit 11: FC-CHP classification Exhibit 12: Five forces analysis Exhibit 13: Global fuel cell market for CHP applications by application 2015-2020 (%) Exhibit 14: Global fuel cell market for CHP applications by application 2015-2020 (MW shipments) Exhibit 15: Global fuel cell market for CHP applications in non-residential sector 2015-2020 (MW shipments) Exhibit 16: Typical CHP models used in commercial and industrial applications Exhibit 17: Typical industrial applications using FC-CHP systems Exhibit 18: Incentives for CHP systems as per SGIP 2016 Exhibit 19: Global fuel cell market for CHP applications in residential sector 2015-2020 (MW shipments) Exhibit 20: Energy uses in typical homes in various countries 2015 (%) Exhibit 21: Residential fuel cells installed under ENE-FARM project in Japan 2009-2015 (number of units) Exhibit 22: Global fuel cell market for CHP applications by product type 2015-2020 (%) Exhibit 23: Global fuel cell market for CHP applications by product type 2015-2020 (MW shipments) Exhibit 24: Global fuel cell market for CHP applications by PEMFC 2015-2020 (MW shipments) Exhibit 25: PEMFC versus SOFC installation in m-CHP applications in Japan 2009-2015 Exhibit 26: Global fuel cell market for CHP applications by MCFC 2015-2020 (MW shipments) Exhibit 27: Global fuel cell market for CHP applications by SOFC 2015-2020 (MW shipments) Exhibit 28: Efficiency of SOFC versus other fuel cell technologies Exhibit 29: Effect of various gaseous reactants on different types of fuel cells Exhibit 30: Global fuel cell market for CHP applications by PAFC 2015-2020 (MW shipments) Exhibit 31: Global fuel cell market for CHP applications by geography 2015-2020 (%) Exhibit 32: Global fuel cell market for CHP applications by geography 2015-2020 (MW shipments) Exhibit 33: Fuel cell market for CHP applications in APAC 2015-2020 (MW shipments) Exhibit 34: Fuel cell development roadmap in South Korea 2009-2030 Exhibit 35: Fuel cell market for CHP applications in Americas 2015-2020 (MW shipments) Exhibit 36: US DoE funding opportunity announcement (FOA): Areas of interest Exhibit 37: Fuel cell market for CHP applications in EMEA 2015-2020 (MW shipments) Exhibit 38: Efficiency resulting from using fuel cells in ene.field scheme Exhibit 39: Japan fuel cell development roadmap 2015-2040 Exhibit 40: Typical stack size of different fuel cell technologies Exhibit 41: GHG mitigation production evaluation Exhibit 42: Fuel cell fuel sources and applications Exhibit 43: Main applications in the stationary FC market (%) Exhibit 44: Efficiency rating of some commonly installed CHP sources Exhibit 45: Major purchase incentives for fuel cell projects in different countries Exhibit 46: Impact of drivers Exhibit 47: Comparison of CHP technologies Exhibit 48: Global crude oil prices 2007-2016 ($/bbl.) Exhibit 49: Cost comparison of fuel cells versus gas engines in CHP Systems Exhibit 50: Impact of drivers and challenges Exhibit 51: FC-CHP prices 2007-2014 ($/unit for a 1,000 W power output) Exhibit 52: SOFC CHP system cost for 5 kW and 25 kW ($) Exhibit 53: NETL SOFC programs Exhibit 54: Organizations involved in fuel cell components R&D in China Exhibit 55: US Fuel Cell Technologies Office R&D budget FY2015-FY2017 ($ millions) Exhibit 56: Other prominent vendors Exhibit 57: ACAL Energy: FC-CHP portfolio Exhibit 58: Bloom Energy: Product segmentation Exhibit 59: Bloom Energy: Product portfolio Exhibit 60: FuelCell Energy: Product segmentation Exhibit 61: Viessmann: Product portfolio

ACAL Energy, Bloom Energy, FuelCell Energy, Viessmann, Aisin Seiki, Baxi (BDR Thermea), Ceres Power, Doosan Fuel Cell, Elcore, ENEOS Celltech (JX Nippon Oil & Energy), EnerFuel, Haldor Topsøe, HEXIS, Kyocera, Panasonic, SOLIDpower, Toshiba, Vaillant.