Solid Oxide Fuel Cell Market New Revenue Pockets
The global solid oxide fuel cell market size is projected to reach USD 2,881 million by 2025, at a CAGR of 30.1%, from an estimated USD 772 million in 2020. Government subsidies and increased R&D on fuel cell programs; fuel flexibility and increasing demand for energy-efficient power generation and stringent emission norms in Europe & North America leading to demand for clean energy source are key factors likely to drive the solid oxide fuel cell market during the forecast period.
Major Key Market Players:
Bloom Energy (US), Ceres Power (UK), Mitsubishi Power (Japan), Aisin Seiki Co (Japan), and Hitachi Zosen (Japan) are the leading players in the solid oxide fuel cell market Sunfire (Germany), Convion (Finland), Kyocera (Japan), Elcogen (Estonia), SOLIDPower (Italy), Watt Fuel Cell Corporation (US), H2E Power (India), ZTEK Corporation (US), Fuel Cell Energy (US), Doosan Fuel Cell (US), and POSCO Energy (South Korea) and others players operating in the market are the leading players in the global solid oxide fuel cell market.
Download PDF Brochure – https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=39365796
This research report categorizes the solid oxide fuel cell market based on Type, Application, End User, and Region.
Based on the type:
- Planar
- Tubular
Based on the application:
- Portable
- Stationary
- Transport
Based on the end user:
- Power Generation
- Automotive
- Hydrogen Generation
- Others
Based on the region:
- North America
- Asia Pacific
- Europe
North America is estimated to be the largest solid oxide fuel cell market in 2019. The region has been segmented, by country, into US and Canada. US is the largest and fastest growing market in the region. The growth in this country can be attributed to the high demand for fuel cell power generation, as well as increasing research and development for hydrogen generation. In addition, government policies and subsidies, including the Department of Energy’s (DoE’s) Solid State Energy Conversion Alliance (SECA) Program, are the prime driving factors for growth in the US market.
Speak to Analyst – https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=39365796
The market is segmented, by type, into planar, and tubular. The planar segment held the largest solid oxide fuel cell market share in 2019. The market for planar segment is driven by the simple geometry and relatively easier construction process. Planar type of solid oxide fuel cells is typically designed in such a way that the ceramic fuel cell modules are arranged one above the other in a sandwich-type design with the electrolyte inserted between the electrodes. As its construction is relatively simple, it is the most commonly used solid oxide fuel cell type.
The market is segmented, by application, into portable, stationary and transport. In terms of value, the stationary held the largest share in 2019 as it is driven by the increasing focus on hydrogen-powered fuel cells for back-up power.
Request Sample Pages – https://www.marketsandmarkets.com/requestsampleNew.asp?id=39365796
The solid oxide fuel cell market is segmented, by end user, into power generation, automotive, hydrogen generation and others. The power generation segment is expected to be the largest market during the forecast period. Increased demand for clean energy generation is expected to drive the market.
