COMPANY PROFILE -Plug Power Inc.
Business Sector :Fuel Cells, Energy
Operating Geography :United States, North America, Global
About Plug Power Inc. :
Plug Power Inc. is an American firm that develops hydrogen fuel cell devices to replace traditional batteries in electrically driven equipment and automobiles. The company's headquarters are in Latham, New York, and it also has offices in Spokane, Washington, and Rochester, New York. The firm was established as a joint venture between DTE Energy and Mechanical Technology Inc. in 1997. The company went public in October of 1999. Plug Power is the innovator that brought hydrogen and fuel cell technology from concept to market. The GenKey system from the company combines all of the parts required to power, fuel, and serve a customer. Plug Power replaces lead-acid batteries in electric industrial vehicles, such as the lift trucks customers use in their distribution facilities, With proven hydrogen and fuel cell products. The company's ProGen platform of modular fuel cell engines expands its reach into the on-road electric vehicle sector, allowing OEMs and system integrators to quickly integrate hydrogen fuel cell technology. Thousands of ProGen engines are in service today, serving some of the world's most demanding activities. Edison Motors and Plug Powers Inc. have signed a deal to mass-produce hydrogen-fueled city buses. By the second half of 2022, the businesses plan to have a fuel cell electric bus prototype finished and be ready to launch a mass-market platform by the first half of 2023.
Plug Power's USP lies in its being the world's top provider of turnkey hydrogen solutions for the global green hydrogen economy, as well as the world's largest buyer of liquid hydrogen and builder of hydrogen filling stations. The mission statement of Plug Power reads, " To build the clean hydrogen economy – green hydrogen sustainability solutions that lower carbon footprints, increase productivity, and lower operating costs".
Plug Power Inc. Revenue :
US$ 502.34 million - FY ending 31st Dec 2021
US$ -93.24 million - FY ending 31st Dec 2020
Competitive Analysis of Plug Power Inc.
The SWOT analysis for Plug Power Inc. is presented below in a matrix followed by the detailed analysis report:
| Strengths | Weaknesses |
1. Industry leader in hydrogen fuel cell technology with global presence and blue-chip customers
2. Strategic partnership with Renault, BAE systems, SK group etc. to capture B2B vehicle market
3. Vertical Integration by strategic investments and partnerships to reduce costs
4. On track to build world’s first PME fuel cell giga factory in New York State.
| 1. Companies core business performance in poor state
2. Accounting irregularities found causing negative $93M revenues and loss of $566M in 2020
3. Consistent negative operating income for last 4 years
|
| Opportunities | Threats |
1. Numerous use cases where Hydrogen fuel cell technology can be applied
2. Importance of renewable and pollution free sources of energy increasing due to climate change
3. Fuel cell cost decreasing with technological progress and increasing production volumes
4. Opportunity of expansion in Europe with European countries welcoming renewable technology
| 1. Uncertainty over the success and adoption of Hydrogen fuel cell technology in longer run
2. Battery electric vehicles becoming the preferred alternate to conventional vehicles
3. Multiple Challenges in storing hydrogen |
Plug Power Inc. SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed SWOT Analysis of Plug Power Inc.
Strength
This section is available only in the 'Complete Report' on purchase.
Weakness
This section is available only in the 'Complete Report' on purchase.
Opportunity
1. Numerous use cases where Hydrogen fuel cell technology can be applied: With stronger push for the use of renewable resources coming from many directions, it seems only a matter of time before these renewable sources of energy will replace the usage of traditional forms of energy from all sectors. Hydrogen fuel cell technology that is being pioneered by Plug Power has multiple use cases and can help in this energy transformation. They can be used in transportation by powering vehicles, they can be used for the generation of heat and power for housing, buildings and industry. Additionally, they also have potential to be used for powering container ships, tankers, fuel cell airplane, metal processing industry. They can act as Auxiliary power units, large scale CHP for industry. Fuel cell technology faces a tough challenge from battery powered systems which are being rapidly adapted but they do have advantages over them. Hydrogen Fuel cell engines can be refueled quickly as the hydrogen has to be refilled just like gasoline whereas the battery powered vehicles take hours charging the battery. All these applications open up a huge market for fuel cell technology which plug power can leverage on.
2. Importance of renewable and pollution free sources of energy increasing due to climate change: The importance and use of renewable sources of energy is increasing exponentially because of several factors. The most important among them being that their use will reduce the pollution and carbon dioxide emission caused by other traditional sources of energy there by mitigate climate change and its drastic consequences. Governments all around the world are pledging to reduce their carbon dioxide emissions to meet this goal. Another factor that plays to the advantage of renewable sources of energy is that most of them do not cause pollution and can be considered clean. Energy produced form coal, oil and natural gas produces a lot of pollutants and impact the quality of air and water thereby impacting standard of living. As the world comes out of poverty people expect their governments to provide them with clean air and water as basic necessity. Another important factor for the growth of renewable sources of energy is that it would help many countries meet their energy needs without being dependent on other countries. In the past oil producing countries have formed groups (e.g., OPEC) that manipulate oil prices by changing supply. Plug Power can leverage on this trend to become an important player in energy sector.
The remaining section under "Opportunity" is available only in the 'Complete Report' on purchase.
Threat
This section is available only in the 'Complete Report' on purchase.
The PESTLE analysis for Plug Power Inc. is presented below in a table followed by the detailed analysis report:
| Political | Economical |
| 1. In 2019 UN Climate Summit, 66 countries pledged to meet net-zero carbon emissions by 2050 | 1. Fuel cell EVs will be more economical to run compared to Battery EVs and ICE vehicles
2. With vaccines developed rapid global economic recovery after Covid 19 pandemic eminent
|
| Social | Technological |
1. Aging workforce and skills gap
2. Increasing demand for travel
| 1. Improving battery technology and its reducing cost to adversely impact Plug power
2. CHP technology can improve fuel cell efficiency to 80%.
|
| Legal | Environmental |
1. Regulatory incentives to renewable sources of energy
2. Accounting error in finances causes loss of investor confidence
3. Stricter emission regulations helping power plug
| 1. Increasing global pressure to limit climate change by shifting to renewable energy |
Plug Power Inc. SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed Pestle Analysis of Plug Power Inc.
Political
This section is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
1. People getting environmentally conscious and prefer environmentally friendly products: People have become very aware of the damage that humans are doing to environment and its irreversible nature. Plastics found in the deepest and remotest part of earth and in the bodies of most of marine life has shocked people and scientists alike. Over fishing is disrupting the delicate ecological balance of the oceans. Pollution and Carbon dioxide emissions are causing climate change that can cause extreme weathers and global warming. All these factors have had an impact on the people, corporations and policy makers, they are all trying to become more sustainable and shift to environmentally friendly methods. Companies are now rated on how sustainable their practices are, their CSR and ESG aspects. More and more customers are now including these factors into their purchase decisions preferring environmentally friendly products and companies. In the developed nations more than 70% of people have made or want to make a positive change in their lifestyle to help the environment. Coronavirus pandemic has also pushed people to become more aware and concerned about environment. Being a pioneer in renewable energy technology, Plug Power can leverage on this change in societal norms.
The remaining section under "Social" is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
This section is available only in the 'Complete Report' on purchase.
Major Competitors :
- Ballard Power
- Toshiba
- Fuelcell Energy
- Hydrogenics
- Doosan Fuel Cell
- Horizon
- Intelligent Energy
- Hyster-Yale Group
- Nedstack
- Pearl Hydrogen
- Sunrise Power
Plug Power Inc. SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
You may also be interested in other analyses of Plug Power Inc.:
-
| Plug Power Inc. Porter's Five Forces Analysis |
|
-
| Plug Power Inc. VRIO Analysis |
|
-
| Plug Power Inc. Value Chain Analysis |
|
-
| Plug Power Inc. Covid-19 Impact Analysis |
|
-
| Plug Power Inc. BCG Analysis |
|
-
| Plug Power Inc. Segmentation, Targeting and Positioning (STP) Analysis |
|
-
| Plug Power Inc. Ansoff Matrix Analysis |
|
Request for Quotation
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Get The Free Sample
Company Overview Report
This report is shared in order to give you an idea of what the complete Company Overview Report will cover after purchase. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing.
Get this report delivered straight into your email inbox for free.
You also agree to receive email updates from us on our new reports and solutions.
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Request for Quotation
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Get The Free Sample
Competitor Analysis Report
This report is shared in order to give you an idea of what the complete Competitor Analysis Report will cover after purchase. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing.
Get this report delivered straight into your email inbox for free.
You also agree to receive email updates from us on our new reports and solutions.
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Request for Quotation
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Get The Free Sample
Porter's Five Forces Analysis Report
This report is shared in order to give you an idea of what the complete Porter's Five Forces Analysis Report will cover after purchase. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing.
Get this report delivered straight into your email inbox for free.
You also agree to receive email updates from us on our new reports and solutions.
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Request for Quotation
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Get The Free Sample
VRIO Analysis Report
This report is shared in order to give you an idea of what the complete VRIO Analysis Report will cover after purchase. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing.
Get this report delivered straight into your email inbox for free.
You also agree to receive email updates from us on our new reports and solutions.
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Request for Quotation
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Get The Free Sample
Value Chain Analysis Report
This report is shared in order to give you an idea of what the complete Value Chain Analysis Report will cover after purchase. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing.
Get this report delivered straight into your email inbox for free.
You also agree to receive email updates from us on our new reports and solutions.
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Request for Quotation
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Get The Free Sample
Regulatory Outlook Report
This report is shared in order to give you an idea of what the complete Regulatory Outlook Report will cover after purchase. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing.
Get this report delivered straight into your email inbox for free.
You also agree to receive email updates from us on our new reports and solutions.
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Request for Quotation
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Get The Free Sample
Risk Analysis Report
This report is shared in order to give you an idea of what the complete Risk Analysis Report will cover after purchase. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing.
Get this report delivered straight into your email inbox for free.
You also agree to receive email updates from us on our new reports and solutions.
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Request for Quotation
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Get The Free Sample
Key Performance Indicators (KPI's) Report
This report is shared in order to give you an idea of what the complete Key Performance Indicators (KPI's) Report will cover after purchase. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing.
Get this report delivered straight into your email inbox for free.
You also agree to receive email updates from us on our new reports and solutions.
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Request for Quotation
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Get The Free Sample
Environmental, Social, and Governance (ESG) Analysis Report
This report is shared in order to give you an idea of what the complete Environmental, Social, and Governance (ESG) Analysis Report will cover after purchase. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing.
Get this report delivered straight into your email inbox for free.
You also agree to receive email updates from us on our new reports and solutions.
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Request for Quotation
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Get The Free Sample
M&A Analysis Report
This report is shared in order to give you an idea of what the complete M&A Report and Analysis Report will cover after purchase. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing.
Get this report delivered straight into your email inbox for free.
You also agree to receive email updates from us on our new reports and solutions.
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Request for Quotation
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Get The Free Sample
Subsidiaries, Partnerships and Collaborations Report
This report is shared in order to give you an idea of what the complete Subsidiaries, Partnerships and Collaborations Report will cover after purchase. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing.
Get this report delivered straight into your email inbox for free.
You also agree to receive email updates from us on our new reports and solutions.
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Request for Quotation
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Get The Free Sample
Stakeholder Analysis Report
This report is shared in order to give you an idea of what the complete Stakeholder Analysis Report will cover after purchase. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing.
Get this report delivered straight into your email inbox for free.
You also agree to receive email updates from us on our new reports and solutions.
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Request for Quotation
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Get The Free Sample
Technology Landscape and Outlook Report
This report is shared in order to give you an idea of what the complete Technology Landscape and Outlook Report will cover after purchase. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing.
Get this report delivered straight into your email inbox for free.
You also agree to receive email updates from us on our new reports and solutions.
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Request for Quotation
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Get The Free Sample
Covid-19 Impact Analysis Report
This report is shared in order to give you an idea of what the complete Covid-19 Impact Analysis Report will cover after purchase. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing.
Get this report delivered straight into your email inbox for free.
You also agree to receive email updates from us on our new reports and solutions.
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Request for Quotation
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Get The Free Sample
Key News and Events Report
This report is shared in order to give you an idea of what the complete Key News and Events Report will cover after purchase. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing.
Get this report delivered straight into your email inbox for free.
You also agree to receive email updates from us on our new reports and solutions.
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Request for Quotation
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Get The Free Sample
BCG Analysis Report
This report is shared in order to give you an idea of what the complete BCG Analysis Report will cover after purchase. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing.
Get this report delivered straight into your email inbox for free.
You also agree to receive email updates from us on our new reports and solutions.
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Request for Quotation
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Get The Free Sample
Digital Marketing and Social Media Strategy Analysis Report
This report is shared in order to give you an idea of what the complete Digital Marketing and Social Media Strategy Analysis Report will cover after purchase. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing.
Get this report delivered straight into your email inbox for free.
You also agree to receive email updates from us on our new reports and solutions.
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Request for Quotation
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Get The Free Sample
Segmentation, Targeting and Positioning (STP) Analysis Report
This report is shared in order to give you an idea of what the complete Segmentation, Targeting and Positioning (STP) Analysis Report will cover after purchase. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing.
Get this report delivered straight into your email inbox for free.
You also agree to receive email updates from us on our new reports and solutions.
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Request for Quotation
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Get The Free Sample
Ansoff Matrix Analysis Report
This report is shared in order to give you an idea of what the complete Ansoff Matrix Analysis Report will cover after purchase. We invest deep in order to bring you insightful research which can add tangible value to your business or academic goals, at such affordable pricing.
Get this report delivered straight into your email inbox for free.
You also agree to receive email updates from us on our new reports and solutions.
We do not share your information with anyone. However, we may send you emails on our new reports and solutions.
Check Out Analysis of Other Relevant Companies
References used in Plug Power Inc. SWOT & PESTLE Analysis Report
1. BAE Systems and Plug Power collaborate on hydrogen-powered solutions for electric buses - https://www.baesystems.com/en/article/bae-systems-and-plug-power-collaborate-on-hydrogen-powered-solutions-for-electric-buses
2. Plug Gigafactory on Schedule for First Operation - https://www.plugpower.com/plug-gigafactory-on-schedule-for-first-operation/
3. Plug Power to restate financial statements, stock plunges - https://www.marketwatch.com/story/plug-power-to-restate-financial-statements-stock-plunges-11615930211
4. In the face of worsening climate crisis, UN Summit delivers new pathways and practical actions to shift global response into higher gear - https://www.un.org/sustainabledevelopment/blog/2019/09/in-the-face-of-worsening-climate-crisis-un-summit-delivers-new-pathways-and-practical-actions-to-shift-global-response-into-higher-gear/
5. Regulating Power Sector Carbon Emissions - https://www.c2es.org/content/regulating-power-sector-carbon-emissions/
The detailed complete set of references are available on request in the 'Complete report' on purchase.
How to Reference This Page?
You can use the following in your reference section in order to give credit to the source. For different referencing styles and detailed guidelines, please click here.
Plug Power Inc. SWOT and PESTLE Analysis - SWOT & PESTLE.COM
SWOT & PESTLE.com (2024). Plug Power Inc. SWOT and PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/plug-power/ [Accessed 30 Apr, 2024].
In-text: (SWOT & PESTLE.com, 2024)
Copyrights and Disclaimer
Plug Power Inc. SWOT and PESTLE analysis has been conducted by Mukesh Anand and reviewed by senior analysts from Barakaat Consulting.
Copyright of Plug Power Inc. SWOT and PESTLE Analysis is the property of Barakaat Consulting. Please refer to the Terms and Conditions and Disclaimer for usage guidelines.
Safe and secure payments
