Market Highlights —
Solid oxide fuel cells (SOFCs) are electrochemical conversion devices, which produce electricity from oxidation for fuels. Increasing demand of highly efficient fuel cells for commercial applications like stationary, portable, military, or transportation, with high flexibility of fuels to be used are fuelling the growth of SOFC market. Researchers are working on producing low temperature SOFCs, as they reduce overall system cost by reducing insulation, materials, start-up, and degradation related costs.
The Global Solid Oxide Fuel Cell Market is projected to grow at a CAGR of around 8% during the forecast period.
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Scope of the Report
This study provides an overview of the global solid oxide fuel cell market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia-Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global solid oxide fuel cell market by its type, application and region.
• North America
• Rest of the World
The key players of the global Solid Oxide Fuel Cell market are
• FuelCell Energy (U.S.),
• Bloom Energy (U.S.),
• Aisin Seiki Co. Ltd. (Japan),
• Ceres Power Holdings Plc. (U.K.),
• Kyocera (Japan),
• Ceramic Fuel Cell Ltd. (Australia),
• Delphi (U.K.)
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Market Research Analysis
SOFCs produce electricity at higher efficiencies, and have greater potential as compared to any other type of fuel cell technology. SOFCs are made up of low cost ceramic compound of metal oxides that have extremely high efficiencies. SOFCs work at very high temperatures, at around 800°C to 1000°C; highest of all fuel cell technologies.
SOFC market is regionally dominated by Asia-Pacific, with Japan and South Korea dominating the region, owing to increasing demand for clean and alternative sources of energy, rising industrial needs, and increasing growth of green energy use to reduce carbon emissions.
Planar SOFCs have anode, electrolyte, and cathode forming flat layers, in which the components are assembled in flat stacks allowing air and hydrogen flow through layers via channels. Planar SOFC is the largest market for SOFC market accounting higher power ratio as compared to other type of SOFCs. Planar SOFCs are extensively used in large and small stationary power generation, and military applications due to higher electrical efficiency.
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Release ID: 249528