The Story Solid Oxide Fuel Cell Market: Learn Something Different and Informatic till 2025


Posted January 23, 2019 by Akshaymehta0202

The global solid oxide fuel cell market was valued at USD 284.3 Million in 2016 and is expected to grow at a CAGR of 13.88%, from 2017 to 2025 to reach a market size of 1,140.6 Million by 2025

 
The global solid oxide fuel cell market was valued at USD 284.3 Million in 2016 and is expected to grow at a CAGR of 13.88%, from 2017 to 2025 to reach a market size of 1,140.6 Million by 2025. Government subsidies and fuel cell programs in North America, Japan, and Europe along with increasing demand for efficient power generation are the major drivers that would trigger the growth in 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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Scope of the Solid Oxide Fuel Cell Market Report:
• By Type
o Planar
o Tubular
• By Application
o Power Generation
o Combined Heat & Power
o Military
• By End-Use
o Data Centers
o Commercial & Retail
o Portable & Unmanned Systems
o Telecom Towers
o Residential
o Auxiliary Power Unit
• By Region
o North America
o Asia Pacific
o Europe
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The power generation segment is expected to hold the largest share of the solid oxide fuel cell market, by application, during the forecast period.
The power generation segment was the largest segment by market share for the solid oxide fuel cell market in 2016 and is projected to dominate the solid oxide fuel cell market during the forecast period. The growth of the power generation segment is primarily driven by the increasing demand for efficient power generation by the commercial and retail end-use segments as well as data centers and telecom towers. Solid oxide fuel cells have an efficiency of as high as 67% as compared to other technologies, such as reciprocating engines which have an efficiency of less than 30%. The government subsidies and incentives given for fuel cell installations in the US and Japan are also driving the growth of the power generation segment.
The planar segment is expected to hold the largest share of the solid oxide fuel cell market, by type, during the forecast period.
The planar segment held the largest market share in the solid oxide fuel cell market, by type in 2016 and is expected to dominate the market during the forecast period. The growth of the planar segment is mainly attributed to the applications of the planar SOFC type in the power generation segment and transportation APU end-use. The planar type is the most commonly used type of solid oxide fuel cell for sub-megawatt and megawatt-scale installations. Companies, such as Bloom Energy (US) and Sunfire (Germany) which dominate the power generation segment, offer planar type SOFC.
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Target Audience:
• Solid oxide fuel cell manufacturers, dealers, and suppliers
• Government and research organizations
• Transmission and distribution utilities
• State and national regulatory authorities
• Consulting companies in the energy and power sector
• Environmental research institutes
• Investment firms
North America: The leading market for solid oxide fuel cell
In this report, the solid oxide fuel cell market has been analyzed with respect to three regions, namely, North America, Europe, and Asia Pacific. The market in North America led the global solid oxide fuel cell market in 2016. Government subsidies and incentives provided for the installation of solid oxide fuel cells for power generation applications was the driving factor for the growth in this region. The market in North America is dominated by the power generation segment, with Bloom Energy being the market leader in the supply of solid oxide fuel cells.
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Issued By Akshay
Country India
Categories Business
Tags oxide fuel cell , solid oxide fuel cell , solid oxide fuel cell market
Last Updated January 23, 2019