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Solid Oxide Fuel Cell (SOFC) Market Size, Share, Statistics & Trends, Growth Analysis Report By Type, By Application, and Segment Forecasts, 2021-2027
Published Date: September 2021
|
Report Code: QYRE-Auto-10131
Home | Market Reports | Business & Industrial | Energy & Utilities | Renewable & Alternative Energy
Global Solid Oxide Fuel Cell SOFC Market Insights Forecast to 2025

Solid Oxide Fuel Cell (SOFC) Market Size, Share, Statistics & Trends, Growth Analysis Report By Type, By Application, and Segment Forecasts, 2021-2027

Code: QYRE-Auto-10131
Report
September 2021
118 Pages
QYResearch
Region: Global,
Description
Table of Content
Tables & Figures

Solid Oxide Fuel Cell Market Statistics 2027

The Solid Oxide Fuel Cell market size was valued at US$ 605.6 million in 2020 and is projected to reach US$ 1451.4 million by 2027, at a CAGR of 13.3% during 2021-2027. One of the most significant driving factors for the growth of the solid oxide fuel cell market size is government policies and incentives for fuel cells. Stringent government regulations aimed at minimizing the world's carbon footprint have driven a range of organizations to develop new technologies that are low on hydrocarbons and high on productivity. Numerous governments are continuously investing in different programs to develop advanced systems along with reduced overall manufacturing costs.
 
Solid Oxide Fuel Cell Market
 
In terms of the production side, this report researches the Solid Oxide Fuel Cell (SOFC) capacity, production, growth rate, market share by manufacturers and regions (or countries), from 2016 to 2020, and forecast to 2027.
 
In terms of the sales side, this report focuses on the sales of Solid Oxide Fuel Cell (SOFC) by regions (countries), company, by Type, and by Application. from 2016 to 2020 and forecast to 2027.

A solid oxide fuel cell (or SOFC) is an electrochemical conversion device that produces electricity directly from oxidizing a fuel. Fuel cells are characterized by their electrolyte material; the SOFC has a solid oxide or ceramic electrolyte. Advantages of this class of fuel cells include high efficiency, long-term stability, fuel flexibility, low emissions, and relatively low cost. The largest disadvantage is the high operating temperature which results in longer start-up times and mechanical and chemical compatibility issues.
 
Solid Oxide Fuel Cell Market Size

Solid oxide fuel cells work at low and very high temperatures. Because of the high operating temperature, fuels can be reformed within the fuel cell, reducing the need for external reforming and allowing the units to be used for a wide range of hydrocarbon fuels. In comparison to other types of fuel cells, they are also relatively immune to small amounts of sulfur in the fuel. Such an advantage is expected to increase the adoption of SOFC, thereby driving the growth of solid oxide fuel cell market size.

Solid Oxide Fuel Cell Market Segment Review

Based on type, the planar segment is expected to be one of the most lucrative segments in the solid oxide fuel cell market. This is due to the simple geometry and relatively easier construction process of the planar SOFC.

Based on application, the stationary segment is expected to be one of the most lucrative segments in the solid oxide fuel cell market. Stationary SOFCs are commonly used as a power source for a variety of industrial applications, including data centers. Various countries, such as Japan, South Korea, and Germany, are improving their regulatory structures, resulting in an increase in the use of SOFCs for power generation in residential and commercial areas.

Based on region, North America is expected to be one of the most lucrative segments in the solid oxide fuel cell market. The high demand for fuel cell power generation and the increase in research and development for hydrogen generation can be attributed to the growth of the SOFC market size in the region.
 
This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors, and Porter's Five Forces Analysis.

Scope of the Solid Oxide Fuel Cell Market Report

Report Metric

Details

Report Name

Solid Oxide Fuel Cell Market

The market size in 2020

$605.6 Million

The revenue forecast in 2027

$1451.4 Million

Growth Rate

13.3% during 2021-2027

Base year considered

2020

Forecast period

2021-2027

Forecast units

Value (USD)

Segments covered

Type, End-User, Offerings, and Region

Market by Type

Tubular, Planar, Others

Market by Applications/Enduser

Transportation, Portable & Military, Stationary

Report coverage

Revenue & volume forecast, company share, competitive landscape, growth factors, and trends

Geographic regions covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Major Players in the Solid Oxide Fuel Cell Market

  • Bloom Energy
  • Siemens Energy
  • Aisin Seiki
  • Mitsubishi Heavy Industries
  • Delphi Corp
  • GE
  • Convion
  • FuelCell Energy
  • Atrex Energy, Inc
  • SOLIDpower
  • ZTEK Corporation
  • Redox Power Systems
  • Ceres
  • Elcogen

Solid Oxide Fuel Cell Market by Type

  • Tubular
  • Planar
  • Others

Solid Oxide Fuel Cell Market by Application

  • Transportation
  • Portable & Military
  • Stationary

Solid Oxide Fuel Cell Market by Region

  • United States
  • Europe
  • China
  • Japan
  • Other Regions

Solid Oxide Fuel Cell Market Consumption by Region

  • North America
  • United States
  • Canada
  • Mexico
  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Indonesia
  • Malaysia
  • Philippines
  • Thailand
  • Vietnam
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Russia
  • Rest of Europe
  • Central & South America
  • Brazil
  • Rest of South America
  • Middle East & Africa
  • GCC Countries
  • Turkey
  • Egypt
  • South Africa
  • Rest of Middle East & Africa

The Study Objectives are

  • To analyze and research the global Solid Oxide Fuel Cell (SOFC) status and future forecast,involving, production, revenue, consumption, historical and forecast.
  • To present the key Solid Oxide Fuel Cell (SOFC) manufacturers, production, revenue, market share, and recent development.
  • To split the breakdown data by regions, type, manufacturers and applications.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends, drivers, influence factors in global and regions.
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.

Frequently Asked Questions About This Report

1. How big is the solid oxide fuel cell market?

Ans. The solid oxide fuel cell market size was valued at US$ 605.6 million in 2020 and is projected to reach US$ 1451.4 million by 2027, at a CAGR of 13.3% during 2021-2027.

2. Which region is expected to hold the largest solid oxide fuel cell market share?

Ans. Based on region, North America is expected to be one of the most lucrative segments in the solid oxide fuel cell market

3. What are the key trends in the solid oxide fuel cell market?

Ans. Stringent government regulations aimed at minimizing the world's carbon footprint have driven a range of organizations to develop new technologies that are low on hydrocarbons and high on productivity.

4. What would be the forecast period in the solid oxide fuel cell market?

Ans. The forecast period considered for the global solid oxide fuel cell market is 2021 to 2027

5. Which is the most influencing segment growing in the global solid oxide fuel cell market?

Ans. Based on type, the planar segment is expected to be one of the most lucrative segments in the solid oxide fuel cell market. This is due to the simple geometry and relatively easier construction process of the planar SOFC.

6. Who are the top companies hold the market share in the solid oxide fuel cell market?

Ans. The major players operating in the solid oxide fuel cell market are Bloom Energy, Siemens Energy, Aisin Seiki, Mitsubishi Heavy Industries, Delphi Corp, GE, Convion, FuelCell Energy, Atrex Energy, Inc, SOLIDpower, ZTEK Corporation, Redox Power Systems, Ceres, Elcogen

Table of Content

 

LIST OF TABLES & FIGURES

 

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