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Global Solid Oxide Fuel Cell Market – Industry Challenges, Key Vendors, Drivers, Trends and Forecast to 2023 PowerPoint Presentation
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Global Solid Oxide Fuel Cell Market Information Report by Type (Planar, Tubular, Others), by Application (Stationary, Portable, Transportation, Military) and by Region - Global Forecast to 2023

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solid oxide fuel cell market size share growth

Solid Oxide Fuel Cell Market Size, Share, Growth Prospects, Key Opportunities, Trends

and Forecasts to 2023

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.

SOFCs electrochemically generate electricity at higher efficiencies, and have greater potential

as compared to any other type of fuel cell technology. Stationary SOFCs are expected to

dominate the Global SOFC Market by application, due to increased deployment of SOFC as a

primary and backup power generator for electronic devices such as installations in residential

and commercial sectors for combined heat and power generation.

The Global Solid Oxide Fuel Cell Market is projected to grow at a CAGR of around 8% during

the forecast period.

Global Solid Oxide Fuel Cell Market

The global solid oxide fuel cell market is driven by factors such as high electrical efficiency,

suitability for variety of application, fuel flexibility, and low emissions. SOFC market on the basis

of application is categorized into stationary, portable, transportation, and military. Rapid

industrialization, urbanization, and fast economic growth in clean energy generation in countries

such as South Korea and China, will drive the market for Solid Oxide Fuel Cells.

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Key Players

The key players of the global Solid Oxide Fuel Cell market are

 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),

 Delphi (U.K.)

 Others

market research analysis sofcs produce

Market Research Analysis

SOFCs produce electricity at higher efficiencies, and have greater potential as compared to any

other type of fuel cell technology. SOFCs are made up of low cost ceramic compound of metal

oxides that have extremely high efficiencies. SOFCs work at very high temperatures, at around

800°C to 1000°C; highest of all fuel cell technologies.

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.

Planar SOFCs have anode, electrolyte, and cathode forming flat layers, in which the

components are assembled in flat stacks allowing air and hydrogen flow through layers via

channels. Planar SOFC is the largest market for SOFC market accounting higher power ratio as

compared to other type of SOFCs. Planar SOFCs are extensively used in large and small

stationary power generation, and military applications due to higher electrical efficiency..

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market-4281

Asia-Pacific region dominates the global solid oxide fuel cell market

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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