Market Highlights
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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Industry Overview
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.
Key Players
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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Segment
Overview
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.
Regional Outlook
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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