COVID-19 Get an extensive COVID-19 analysis on the Solid Oxide Fuel Cell Market Request Free Sample

This report on the Solid Oxide Fuel Cell market is a thorough analysis of the size, share, demand, growth, gross profits, earnings, and revenue of the industry. It evaluates the data gathered to give an extensive view of the trends and predicts the possible developments in the forecasted duration. For this study, the historical data has been collected from the years 2016 and 2017 while taking 2018 as the base year to project the growth of the industry in the years 2019 to 2026.

The global solid oxide fuel cell market was valued at more than USD 280 million in 2016 and is expected to cross USD 1 billion by the end of 2025. A solid oxide fuel cell (SOFC) is an electrochemical conversion device, which oxidizes a fuel and as a result generates electricity. The characteristics of SOFC are high combined heat and power efficiency, long shelf life, long-term stability, fuel flexibility, low emissions, and low cost as compared to others. These characteristics are likely to promote the growth of the SOFC market.

The concerning requirement for zero-emission energy devices and alternatives will propel the market in the upcoming years. The demand for stationary power generation, portable devices, and defense applications are also expected to push the market forward in the coming years. Furthermore, there might be a substantial increase in the number of companies investing in R&D to improve the class and efficiency of solid oxide fuel cells, and this cumulative investment will also act as a significant driving factor during the forecast period. A major restraint obstructing the growth of the sector is that Solid Oxide fuels have a high-operating temperature because of which start-up times are longer and possibly mechanical, with some chemical compatibility issues.

Based on type, the planar segment will lead the market during the forecast period owing to low power losses and high transformation ability. Based on mobility, the stationery segment is expected to lead concomitantly with its growing applications in residential, combined heat & power (CHP), and uninterrupted power supply. Based on the application, the power generation segment is expected to lead the way. North America holds majority of the market shares, with a 45% share in 2017, and will continue to add to the market in the future. Europe will soon catch up, as it is speculated to deliver a promising growth rate with the increasing public-private sector relationship, rise in the price of oil and demand from end-users like power suppliers and the automotive industry, among others. The Asia Pacific will also open new opportunities for investments due to rising environmental concerns and a focus shift towards sustainable energy.

Some of the key findings from our Solid Oxide Fuel Cell market forecast report

The document provides an investigation of the Solid Oxide Fuel Cell marketplace to predict its prospects. The past data is considered from the years 2016 and 2017 while taking 2018 as the base year to estimate the trends in the years 2019 to 2026. The industry has been categorized into different segments based on type as Tubular, Planar; based on mobility as Stationery, Portable; and based on end-user as in Data centers, Commercial & Residential, Retail, and others; to assess their size, share, demand, trends, gross profit, total earnings, revenue and speculate other essential aspects. This report also evaluates the competition in the business to derive the individual placements of the key players in the global sector. The information provided here outlines those sectors that are expected to undergo substantial developments in the predicted years to aid the readers in deciphering the most profitable ones for their business. By doing so, it also highlights the future sectors that exhibit significant potential for investment.

Global Solid Oxide Fuel Cell market overview

The global Solid Oxide Fuel Cell market is projected to undergo a steady rise in the forecasted years, as observed by the outcome of the analysis provided in this study. The report encompasses different factors that have a substantial impact on the revenue of businesses. This study also profiles the key players that account for a significant share in the global economy of the Solid Oxide Fuel Cell business. The key players profiled here include Ceres Power Holdings Plc., WATT Fuel Cell Corporation, Convion Fuel Cell Systems, Ceramic Fuel Cell Ltd., Bloom Energy, Elcogen, FuelCell Energy, Delphi, Atrex Energy, Protonex, and Redox Power Systems among others. The key geographical regions mapped here are North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa. The competitive data given helps in providing better insights into the individual standing of the companies against the global landscape. The forecast also provides the estimated trends in demand and their impact on the businesses.

Key players in the global solid oxide fuel cell market:

Ceres Power Holdings Plc.

WATT Fuel Cell Corporation

Convion Fuel Cell Systems

Ceramic Fuel Cell Ltd.

Bloom Energy

Elcogen

FuelCell Energy

Delphi

Atrex Energy

Protonex

Redox Power Systems

Market segment based on the Type:

Tubular

Planar

Market segment based on Mobility:

Stationery

Portable

Market segment based on End-users:

Data center

Commercial & Residential

Retail

Others

Market segment based on the Country/Region:

North America

Europe

Asia Pacific

Middle East and Africa

Latin America