The
global solid oxide fuel cell market is anticipated to accrue USD 1,183.6
million with a staggering CAGR of 12.87% during the forecast period
(2017-2023), asserts Market Research Future (MRFR). This electrochemical
conversion device gives its user an advantage by providing stable, efficient
fuel flexibility at a low cost. The market is driven by the rapid
industrialization taking place across the globe. Constant innovation and
introduction of latest technology are playing a significant role in bolstering
the pace of industrialization. Solid oxide fuel cells (SOFC) is one such device
that aims at replacing the traditional models of energy generation and assist
end-users in staying on track with the advancements.
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Report Overview
This report allows the user to gain a deeper understanding of the current
events and trends in the market for solid oxide fuel cells. By correlating the
historical data with key market dynamics, our analysts were able to make highly
accurate projections in the report. MRFR’s report includes a thorough segmental
analysis of the global solid oxide fuel cell market segmented on the basis of
type, mobility, application, end-user, and region with astute insights. This
report has been prepared to assist industry participants in making informed
decisions on growth strategies and operation management. Users will also come
across drivers, trends, opportunities, and restraints which are likely to
influence the growth of the market during the assessment period.
Companies Covered:
Delphi
(U.K.), Atrex Energy (U.S.), Redox Power Systems (U.S.), Ceres Power Holdings
Plc. (U.K.), Ceramic Fuel Cell Ltd. (Australia), FuelCell Energy (U.S.),
Protonex (U.S.), WATT Fuel Cell Corporation (U.S.), Elcogen (Estonia), Bloom
Energy (U.S.), and Convion Fuel Cell Systems (Finland) are noteworthy players
in the solid oxide fuel cell market.
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Full Report at: https://www.marketresearchfuture.com/reports/solid-oxide-fuel-cell-market-4281
Global Solid Oxide Fuel Cell Market Segmentation:
By type, the market is segmented into planar and tubular. Planar solid oxide fuels are currently enjoying rapid commercialization owing to its advantages such as low emission and high transformation efficiency.
By type, the market is segmented into planar and tubular. Planar solid oxide fuels are currently enjoying rapid commercialization owing to its advantages such as low emission and high transformation efficiency.
Mobility-wise, the
market includes stationery and portable. Stationery solid oxide fuels are
dominating the market due to their high demand for applications such as prime
power, large CHP, residential CHP, and uninterrupted power supply.
Based on
application, the market comprises power generation, CHP, and military. Power
generation segment is estimated to gain the most from the current progress scenario
of the market and exhibit a robust CAGR during the forecast period.
On the basis of
end-user, the market is segmented into the data center, commercial &
residential, retail, and auxiliary power units.
Global Solid Oxide
Fuel Cell Market Regional Analysis:
Geographically,
the market for solid oxide fuel cell covers North America, Europe, and Asia
Pacific (APAC).
North America
accounted for the largest market share (46.5%) in 2017. It is also expected to
register the fastest CAGR during the prognosis period. This can be credited to
nations such as the U.S. and Canada’s massive investment in the industry.
Natural Sciences and Engineering Research Council of Canada, a part of SOFC
Canada, has committed itself holistically to produce next-generation SOFC
technologies. The U.S. has a wide-scale usage of SOFCs in sectors requiring
large-scale auxiliary power, electric utilities, and distributed generation.
APAC is closely
following the lead of North America. SOFC implementation across sectors have
gained momentum. South Korea and Japan are currently employing this system the
most. Japan is leading the market and expects to be the fastest growing country
during the review period due to its heavy deployment of CHP and supporting
schemes such as ENE-FARM.
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Market Research Future:
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