Global Solid Oxide Fuel Cell Market, By Type (Planar, Tubular), Application (Power Generation, Combined Heat & Power, Military), End-Use (Data Centers, Commercial & Retail, APU), Mobility (Stationary, Portable), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Solid Oxide Fuel Cell Market Analysis and Insights
Solid oxide fuel cell market will reach at an estimate value of USD 1.48 billion and grow at a rate of 4.40% for the forecast period of 2021 to 2028. Increasing demand for energy efficient power generation is a vital factor driving the growth of solid oxide fuel cell market.
Solid oxide fuel cells are the type of devices which are installed with a ceramic membrane aiding them to conduct ions and flow currents at high temperatures. They are electrochemical units which utilize non-porous and solid metal oxide electrolytes to convert chemical energy into thermal energy and electricity using hydrogen fuel. These units are extensively used in numerous applications due to their ability to operate at elevated temperatures, high efficiency, stability and acceptance of several types of fuels.
Increasing government subsidies and fuel cell programs in Japan, Europe and North America is the vital factor escalating the market growth, also increasing ability to run on multiple fuels, increasing stringent emission norms in Europe & North America leading to demand for clean energy sources, higher electrical efficiency rate of SOFCs, rising potential of the technology in developing economies, rising awareness about alternative sources of energy and increase in carbon emissions has been a global issue and government authorities across the globe are the major factors among others driving the feed acidifiers market. Moreover, increasing distributed power generation in the US and Asia Pacific, rising adoption by end-users in data centers and the military sector and increasing development of hybrid-SOFC technologies will further create new opportunities for the solid oxide fuel cell market in the forecast period of 2021-2028.
However, increasing capital costs required for solid oxide fuel cells and rising competition from other fuel cell technologies, such as PEMFC, DMFC, and MCFC are the major factors among others acting as restraints, while rising technical Issues, such as high startup time and high operating temperatures will further challenge the growth of solid oxide fuel cell market in the forecast period mentioned above.
This solid oxide fuel cell market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on solid oxide fuel cell market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Solid Oxide Fuel Cell Market Scope and Market Size
Solid oxide fuel cell market is segmented on the basis of type, application, end-use and mobility. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- Based on type, the solid oxide fuel cell market is segmented into planar and tubular.
- On the basis of application, the solid oxide fuel cell market is segmented into power generation, combined heat & power and military.
- Based on end-use, the solid oxide fuel cell market is segmented into data centers, commercial & retail and APU.
- The solid oxide fuel cell market is also segmented on the basis of mobility into stationary and portable.
Solid Oxide Fuel Cell Market Country Level Analysis
Solid oxide fuel cell market is analysed and market size, volume information is provided by country, type, application, end-use and mobility as referenced above.
The countries covered in the solid oxide fuel cell market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the solid oxide fuel cell market due to increasing presence of supportive policies and incentives in the U.S. states, such as California and Connecticut and increasing availability of research grants from the U.S. department of energy in this region. Asia-Pacific is the expected regions in terms of growth in solid oxide fuel cell market due to rising demand for energy efficient power generation and rising potential of the technology in this region.
The country section of the solid oxide fuel cell market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Solid Oxide Fuel Cell Market Share Analysis
Solid oxide fuel cell market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to solid oxide fuel cell market.
The major players covered in the solid oxide fuel cell market report are Convion Ltd, Cummins Inc, FuelCell Energy, Intelligent Energy Limited, IPGI Instruments, K- Pas Instronic Engineers India Private Limited., SFC Energy AG, PLUG POWER INC, Toshiba Energy Systems & Solution Corporation, AISIN SEIKI Co., Ltd., Bloom Energy, Ceres, HEXIS S.A., Sunfire GmbH, Ensol Systems and MITSUBISHI HEAVY INDUSTRIES, LTD, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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