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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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“Power Rental Market by Fuel (Diesel & Gas), Power Rating, Equipment, End Users (Utilities, Oil & Gas, Events, Construction, Mining, Manufacturing, Shipping, Data Center), Application (Peak Shaving, Base Load, Standby), Region – Global Forecasts to 2023″
The shunt reactor market is expected to grow from an estimated USD 2.56 billion in 2017 to USD 3.19 billion by 2022, registering a CAGR of 4.56% from 2017 to 2022. The global market for shunt reactor is driven by the rising demand for electricity for power generation, and the addition of high voltage transmission networks. Also, upgrading aging technology in the developed nations is expected to drive the shunt reactors market as they are used to stabilize the system voltage during load variations by absorbing excess reactive power generated in the transmission network.
To provide an in-depth understanding of the competitive landscape, the report includes profiles of some of the key players in the shunt reactor market including GE (US), Siemens (Germany), ABB (Switzerland), and Fuji Electric (Japan). Leading players in the shunt reactor industry are trying to penetrate the developing economies in Asia-Pacific region.
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The report segments the shunt reactor market based on its type, which includes oil-immersed and air-core. Based on its end-user, the shunt reactor market is categorized as electric utilities and industrial verticals. Based on application the shunt reactors market has been segmented into variable reactor and fixed reactor.
On the basis of type, the shunt reactor market has been classified into oil-immersed and air-core. The oil-immersed segment is expected to grow at the fastest rate during the forecast period. Oil-immersed shunt reactors are usually utilized for systems with a voltage profile of 72.5 kV and above and are connected directly to the high-voltage busbar/transmission network. The North American and European markets are expected to witness a decent demand for oil-immersed shunt reactors.
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On the basis of end-user, the shunt reactor market has been classified into electrical utilities and industrial verticals. The electrical utilities segment dominated the global shunt reactor market in 2016. The growth is attributed to the growing industrialization and urbanization in emerging countries across the globe, increase in investments in the T&D infrastructure, and augmentation and modernization of the T&D network.
Asia Pacific is currently the largest market for shunt reactors, followed by North America and Europe. China accounted for a majority share in the Asia Pacific region and is projected to grow at the highest CAGR from 2017 to 2022. In developing countries such as China and India, factors such as strong growth in the demand for electricity fueled by high levels of urbanization, industrialization, infrastructural developments, and subsequent investments in developing T&D networks, would spur the demand for shunt reactors.
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The demand for shunt reactors can be directly linked to the development of T&D networks. However, developing alternative technologies such as FACTS (Flexible AC Transmission System) and HVDC systems act as a restraint to shunt reactors. Conventional methods of grid stabilization using devices such as capacitors have their limitations in terms of effective performance. Hence, efficient technologies such as FACTS and HVDC systems are becoming popular.
Leading players in the shunt reactor market include GE (US), Siemens (Germany), ABB (Switzerland), and Fuji Electric (Japan). Contracts & agreements was the most commonly used strategy by top players in the market
Related Reports:
“Power Rental Market by Fuel (Diesel & Gas), Power Rating, Equipment, End Users (Utilities, Oil & Gas, Events, Construction, Mining, Manufacturing, Shipping, Data Center), Application (Peak Shaving, Base Load, Standby), Region – Global Forecasts to 2023″
The development of autonomous vehicles and industry-wide standards to implement safety features such as the adaptive cruise control (ACC), collision warning, lane-keep assist, and advanced driver assistance systems (ADAS) would trigger the growth of the artificial intelligence in the transportation market.
The Artificial Intelligence In Transportation Market is projected to grow at a CAGR of 17.87% from 2017 to 2030, and the market size is expected to grow from USD 1.21 Billion in 2017 to USD 10.30 Billion by 2030. The market growth is primarily driven by factors such as increasing demand for assisted driving, increasing level of automation, and enhanced connectivity. Other factors driving the growth of the artificial intelligence in transportation market are a reduction in the number of accidents caused due to human error and demand for reduced traffic congestion.
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The key strategy adopted by the major players in the artificial intelligence in transportation market is supply contracts/partnerships/joint ventures. OEMs along with Tier-I suppliers and software suppliers have joined hands to gain a competitive advantage in the artificial intelligence in transportation market. Leading players are collaborating with regional players to cater to the growing demand. For instance, in April 2017, Bosch and the University of Amsterdam decided to collaborate in the field of artificial intelligence. Over the next four years, Bosch will make a total investment of USD 3.34 million in this partnership. New product development is the second most widely followed strategy in the market. In July 2016, ZF launched a ‘Highway Driving Assist Multi-Lane’ system, which combines environmental sensing, braking, automatic steering, and acceleration to maintain vehicle control.
The report provides detailed profiles of the following companies:
Volvo (Sweden) is identified as the leading player among OEMs in the artificial intelligence in transportation market. The company has a robust product portfolio in transportation sector such as city buses, coaches, and others. The company offers premium products and services related to artificial intelligence such as self-driving trucks, HMI, fleet management, and others. Volvo (Sweden) has been working on truck automation for 20 years. The company follows the strategy of new product development to gain a competitive advantage in the artificial intelligence in transportation market. In July 2017, the company launched its new “VNL” series of semi-trucks, which offer many self-driving features and safety systems such as forward collision warning, adaptive cruise control, lane departure warning, and automatic emergency braking. Similarly, in May 2017, the company launched an integrated system for infotainment and services in vehicles.
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Asia Oceania is estimated to be the fastest growing market for artificial intelligence in transportation, in terms of value. The market growth in the region can be attributed to strong economic growth, booming logistics and supply chain sector, shift of unorganized 3PL (third-party logistics) sector to organized sector, and steadily growing population. These factors have played a vital role in the increasing production and sale of commercial vehicles, mainly trucks. Developing countries such as India and China are driving the growth of commercial vehicles in the region.
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