The report “Solid Oxide Fuel Cell Market by Type (Planar and Tubular), Application (Power Generation, Combined Heat & Power, and Military), End-Use (Data Centers, Commercial & Retail, and APU), Region (North America, Asia Pacific, and Europe) – Global Forecast to 2025″, The solid oxide fuel cell market is expected to grow from an estimated USD 403.4 Million in 2017 to USD 1,140.6 Million by 2025, at a CAGR of 13.88%, from 2017 to 2025. The global market is set to witness a significant growth due to government subsidies and fuel cell programs in the US, Japan, and Europe.
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The report segments the solid oxide fuel cell market, by type, into planar and tubular. Planar type dominated the market in 2016 due to product offering of planar type being the most commonly used for the power generation application.
Based on application, the solid oxide fuel cell is segmented into power generation, combined heat and power, military, and others. The power generation application dominated the market mainly due to high demand for distributed power generation for commercial and retail and data centers end-use in the North American region.
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The application segment has been further sub-segmented by end-use. The power generation segment has been sub-segmented into data centers, commercial and retail, and telecom. Combined heat and power has been sub-segmented into commercial and residential end-use; military segment in to stationary power generation and portable and unmanned systems; and others segment includes transportation auxiliary power units and remote emergency power.
In this report, the solid oxide fuel cell market has been analyzed with respect to three regions, namely, North America, Asia Pacific, and Europe. The market in North America is expected to lead the global market during the forecast period due to increasing demand for efficient power generation and government subsidies.
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Rising demand for distributed power generation in North America and Asia Pacific, increasing adoption of solid oxide fuel cells in data centers, and military sector and development of hybrid-SOFC technologies could lead to opportunities for the market. High capital costs and competition from other fuel cell technologies, such as PEMFC could be a restraint to the growth of the market.
Some of the leading players in the solid oxide fuel cell market include Bloom Energy (US), Aisin Seiki (Japan), SOLIDpower (Italy), Sunfire (Germany), UnderSea Sensor Systems (US), and Atrex Energy (US). Contracts & agreements and joint ventures and collaborations were some of the strategies adopted by these players.
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