Solid Oxide Fuel Cell Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

A solid oxide fuel cell (SOFC) is an energy converter device that produces electricity through electrochemical conversions. It operates using various energy sources, such as biogas, natural gas, propane hydrogen, and other oxidized hydrocarbons. SOFCs are embedded into power systems to generate continuous energy for various commercial and industrial applications. They are also widely used for operating energy-intensive data centers to improve operational performance and facilitate the real-time backup of the data. Additionally, various product innovations, such as the development of noiseless and portable SOFCs for military applications, are acting as other growth-inducing factors. Major factors that are driving the SOFC market is the augmented R&D on fuel cell programs as well as government subsidies, fuel flexibility together with growing demand for energy-efficient power generation as well as stringent emission norms is the factor that leads to demand for clean energy sources which in turn motivates the market growth.

Request to Download Sample of this Strategic Report - https://univdatos.com/get-a-free-sample-form-php/?product_id=20349

The coronavirus pandemic was declared a public health emergency worldwide by World Health Organization (WHO) in 2020. However, Covid-19 had a mixed effect on the fuel cells market. In some countries, like India, project delays were witnessed in the deployment of fuel cells in the transportation and commercial sectors. Also, the demand has been reduced in the residential and commercial end-user segments due to limited new construction activities and the diversion of available funds by these end-users to sustain the pandemic.

According to UnivDatos Market Insights (UMI)’ research report “global solid oxide fuel cell”, the market was valued at 0.53 billion in 2020 and expected to grow at CAGR of around 20% during the forecast period (2021-2027). The solid oxide fuel cell market is growing at a propelling rate and is expected to have a substantial market demand in the forecasted period as well. The solid oxide fuel cell belongs to the fourth-generation fuel cell. It is a full-solid chemical power generation device that directly converts the chemical energy stored in the fuel and the oxidizing agent at medium and high temperatures into high-efficiency and environmentally friendly chemical energy. With the advancement of science and technology, the energy crisis, and the stringent measures on environmental protection, it is important to find a new type of battery with high efficiency and ecofriendly.

Hence, driving the market size of solid oxide fuel cells in developing economies. Moreover, the continuous increase in demand for electricity escalates the requirement of considerable power generation which can be fulfilled by (SOFC). As it is one of the fastest-growing alternate backup power options, primarily due to its ability to generate electricity using a variety of fuels.

Based on Type, the solid oxide fuel cell market is segmented into planar and tubular. The planar caters to extensive market share in the solid oxide fuel cell market. It is mainly owing to the increasing development of waste incineration facilities across the world. In addition, other factors, such as industrialization and economic development, would also contribute toward MSW generation, which is further expected to influence the growth of the thermal-based solid oxide fuel cell market.

Request to Download Sample of this Strategic Report -  https://univdatos.com/get-a-free-sample-form-php/?product_id=20349

Based on Application, the solid oxide fuel cell market is bifurcated into portable, stationary, and transport. The stationary segment caters significant market share in the solid oxide fuel cell market. As stationary fuel cells are used for many purposes, including as stationary power units for primary power, backup power, or combined heat and power (CHP). In addition, the growing electricity demand in various industries is expected to accentuate the demand for power back up which would positively influence the demand for stationary solid oxide fuel cells. 

Based on end-user, the solid oxide fuel cell market is segmented into commercial and industrial, data centers defense & military, and residentials. The commercial and industrial sector caters extensive share of the solid oxide fuel cell market. It is mainly owing to the growing demand for clean energy generation on sites that are providing a thrust to the market growth.

North America to witness the highest growth

Based on region, the report provides a detailed analysis for overall adoption of Solid oxide fuel cell in the major region including North America (United States, Canada, Rest of North America, Europe (Germany, UK, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, Rest of APAC), Rest of the World. North America caters to a substantial share in the solid oxide fuel cell market over the past few years and is expected to have an influential growth rate in the forecasted period as well. It is mainly attributed to the high demand for fuel cell power generation, as well as increasing research and development for hydrogen generation.

For more informative information, please visit us –  https://univdatos.com/report/solid-oxide-fuel-cell-market/

In April 2020, Konan Kogyo which is a subsidiary of Aisin Seki has established a hydrogen station with the intention of endorsing the revolution from petroleum-based energy to clean energy. Under this partnership, Aisin Seiki and Toyota Group plan to use fuel cell-electrified buses for transportation. 

 In August 2020, Aisin AW and Aisin Seiki which both are part of Aisin Group have planned to integrate their management in order to support their advanced research business which will help to improve the efficiency of resources and interconnected projects, resulting in agile research.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Solid oxide fuel cell market are Bloom Energy, Mitsubishi Power Ltd., Cummins Inc., Ceres, General Electric, FuelCell Energy, Inc., Watt fuel cell corporation, Kyocera Corp., AVL, NGK Spark Plug Co., Ltd. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions. 

“Global Solid oxide fuel cell Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.      

For more informative information, please visit us –  https://univdatos.com/report/solid-oxide-fuel-cell-market/

Market Segmentation:

1.     By Type (Planar and Tubular)

2.     By Application (Portable, Stationary, and Transport)

3.     By End-Use (Commercial and Industrial, Data Centers Defense & Military, and Residentials)

4.     By Region (North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, Rest of APAC), ROW.

5.     By Company (Bloom Energy, Mitsubishi Power Ltd., Cummins Inc., Ceres, General Electric, FuelCell Energy, Inc., Watt fuel cell corporation, Kyocera Corp., AVL, NGK Spark Plug Co., Ltd).

Key questions answered in the study:

1.     What are the current and future trends of the global Solid oxide fuel cell industry?

2.     How the industry has been evolving in terms of type, application, end-use, and region?

3.     How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the global Solid oxide fuel cell industry?

5.     What is the customer orientation, purchase behavior, and expectations from the global Solid oxide fuel cell suppliers across various regions and countries? 

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL SOLID OXIDE FUEL CELL MARKET COVID-19 IMPACT

6 GLOBAL SOLID OXIDE FUEL CELL MARKET REVENUE 2019-2027F

7 MARKET INSIGHTS BY TYPE

8 MARKET INSIGHTS BY APPLICATION

9 MARKET INSIGHTS BY END-USER

10 MARKET INSIGHTS BY REGION

11 Rest Of the World Solid Oxide Fuel Cell Market

12 SOLID OXIDE FUEL CELL MARKET DYNAMICS

13 SOLID OXIDE FUEL CELL MARKET OPPORTUNITIES

14 SOLID OXIDE FUEL CELL MARKET TRENDS

15 LEGAL & REGULATORY FRAMEWORK

16 DEMAND AND SUPPLY-SIDE ANALYSIS

17 VALUE CHAIN ANALYSIS

18 COMPETITIVE SCENARIO

19 COMPANY PROFILED

20 DISCLAIMER

Browse Other Related Research Reports from UnivDatos Market Insights

·        Waste Management Market is expected to grow at a steady pace by 2027|CAGR: 5%

·        Offshore Wind Turbine Market to Reach USD 33 Billion by 2027 Globally |CAGR: 11.1%

·        Wind Turbine Operations and Maintenance Market to Reach ~US$ 50 Billion by 2027 Globally |CAGR: 12%

·        Wind Energy Market to Reach ~US$ 287 Billion by 2027 Globally |CAGR: 24.4%