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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Solid oxide fuel cells are highly efficient operating at high temperature, which means that fuels can be transformed within the fuel cell itself, eliminating the need for external reforming and allow the units to be used with a variety of hydrocarbon fuels. They can be used with coal gas as they are relatively resistant to small quantities of sulphur in the fuel, compared to other types of fuel cell. Their ability to tolerate fossil fuel impurities, like ammonia and chlorides, Solid oxide fuel cells (SOFCs) are widely used for variety of applications.
The prominent players in the solid oxide fuel cell market include 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), and Delphi (U.K.) among others.
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By type, the solid oxide fuel cell market has been segmented into tubular and planar. The planar segment can be expected to showcase a strong growth rate owing to high energy efficiency and low power losses accrued by its usage. Its future applications in underwater vehicles, auxiliary power units, and portable devices can boost segment growth during the forecast period.
By mobility, the market is segmented into stationary and portable. By application, the market is segmented into power generation, military, and combined heat & power.
Major market end-users include data center, commercial & residential, retail, and auxiliary power units. The data center segment is likely to garner immense market demand owing to corporate giants shifting their proprietary data to the cloud for curbing operational expenditures.
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.
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