Pune, India, June, 2018 /MRFR Press Release/- The Global Solid Oxide Fuel Cell Markets expected to witness a stagnation in growth during the forecast period. This is due to the considerable growth in the power sector with population boom along with the rise in energy demand in various regions.
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.
The market is expected to grow at a CAGR of around 8% during the forecast period.
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- FuelCell Energy
- Bloom Energy
- Aisin Seiki Co. Ltd.
- Ceres Power Holdings Plc.
- Ceramic Fuel Cell Ltd.
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 geographic market is segmented as North America, Europe, Asia-Pacific and Rest of the The global solid oxide fuel cell market is driven by factors such as high electrical efficiency, suitability for variety of application, fuel flexibility, and low emissions. SOFC market on the basis of application is categorized into stationary, portable, transportation, and military. Rapid industrialization, urbanization, and fast economic growth in clean energy generation in countries such as South Korea and China, will drive the market for Solid Oxide Fuel Cells.
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