The global solid oxide fuel cell market is anticipated to touch USD 1,183.6 million by 2023, as per an insightful report by Market Research Future (MRFR). It is expected to expand at a 12.87% CAGR during the assessment period (2017-2023). Solid oxide fuel cells (SOFCs) are fuel cells capable of generating power through electrochemical reactions. These devices use electrolytes made from zirconium or calcium to attain the necessary electrical efficiency. Its ability to function efficiently at low temperatures has led to investments from major industries.
This report allows the user to gain a deeper understanding of the current events and trends in the market for solid oxide fuel cells. By correlating the historical data with key market dynamics, our analysts were able to make highly accurate projections in the report. MRFR’s report includes a thorough segmental analysis of the global solid oxide fuel cell market segmented on the basis of type, mobility, application, end-user, and region with astute insights. This report has been prepared to assist industry participants in making informed decisions on growth strategies and operation management. Users will also come across drivers, trends, opportunities, and restraints which are likely to influence the growth of the market during the assessment period.
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Industry Top Key Players:-
- FuelCell Energy
- Bloom Energy
- Aisin Seiki Co. Ltd.
- Ceres Power Holdings Plc.
- Ceramic Fuel Cell Ltd.
Major Points of TOC:-
1 Executive Summary
2 Research Methodology
3 Market Dynamics
4 Global Solid Oxide Fuel Cell Market, By Type
5 Global Solid Oxide Fuel Cell Market, By Application
6 Global Solid Oxide Fuel Cell Market, By Type
6.1 Overview 35
6.2 Planar 35
6.3 Tubular 35
7 Global Solid Oxide Fuel Cell Market, By Mobility
7.1 Overview 38
7.2 Stationary 38
7.3 Portable 38
To be continued…..
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Asia-Pacific region dominates the global solid oxide fuel cell market:-
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. SOFCs, in Asia-Pacific, North America, and Europe, have potential application in combined heat & power (CHP) systems, to be implemented in commercial buildings for electric and thermal power generation.
Global Solid Oxide Fuel Cell Market:-
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.