Global Solid Oxide Fuel Cell Market was valued at US$ 657 Mn in 2019 and is expected to reach US$ XXMn by 2027 at a CAGR of about XX%.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The reported segment of Global Solid Oxide Fuel Cell Market based on type, application, end user and region. Based on the type, the Global solid oxide fuel cell market can be classified into planer solid oxide fuel cell and tabular solid oxide fuel cell. In terms of application, the Global planar solid oxide fuel cell market can be fragmented into Power Generation, Combined Heat & Power, and Military. By region, Global planar solid oxide fuel cell market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Reduce carbon emissions for consolidation energy security is one of the factors, which helps to boost the growth in the solid oxide fuel cell market. Renewable and cost-effective solution over the traditional energy source is the factor to boost the demand for a planar solid oxide fuel cell. Government subventions for a fuel cell in developed economies such as North America, Japan, and Europe alongside with growing demand for efficient power generation are the driving factor for growth in the planar solid oxide fuel cell market. The increasing costs of compounds and commercialization are swelling complexity in the formation of a substructure of solid oxide fuel cells will restrain the growth of the market.
By type, solid oxide fuel cell market is estimated to grow at the high rate of CAGR during forecast year. Planar solid oxide fuel cell is widely used in commanding power module owing to it offers efficient flexibility. It is generally used in the power generation application.
Based on the application, Power Generation segment is expected to dominate the growth in the solid oxide fuel cell market owing to the increasing demand of this cell for distributed power generation in commercial and retail and data centers. Global Solid Oxide Fuel Cell Market offers the efficiency of as high as 65 % as compared to other fuel cell technologies. The government subsidizations for fuel cell installations in the US and Japan are driving the growth for the power generation segment.
In terms of region, Asia-Pacific is estimated to dominate the growth in Global Solid Oxide Fuel Cell Market owing to increasing demand for substitute electric power generation technologies, associated spending on the expansion of Solid oxide fuel cell technology. Furthermore, North America is expected to grow at the high rate in the solid oxide fuel cell market owing to the presence of the major key players in this region. Bloom Energy is the market frontrunner in the supply of Global Solid Oxide Fuel Cell Market.
Key players profiled and analyzed in the Global Solid Oxide Fuel Cell Market:
Doosan Fuel Cell America, Inc ,Fuel Cell Energy ,Altair Nanotechnologies Inc., The Babcock & Wilcox Co., SOFCpower, Chevron Technology, Delphi Automotive LLP, Protonex, LG Fuel Cell Systems Inc., NexTech Materials, Sunfire GmbH, Rolls-Royce plc., DDI Energy Inc., KERAFOL Keramische Folien GmbH, and Point Source Power, Bloom Energy, Hydrogenics, Plug Power Inc., Walmart, CenturyLink, Coca-Cola, Verizon.
Scope of the Global Solid Oxide Fuel Cell Market
Global Solid Oxide Fuel Cell Market, By Type
• Thin Film
Global Solid Oxide Fuel Cell Market, By Application
• Power Generation
• Combined Heat & Power
Global Solid Oxide Fuel Cell Market, By Region
• North America
• Asia Pacific
• Latin America
• Middle East Africa
Key players in the Global Solid Oxide Fuel Cell Market
• Doosan Fuel Cell America, Inc
• Fuel Cell Energy
• Altair Nanotechnologies Inc.
• The Babcock & Wilcox Co.
• Chevron Technology
• Delphi Automotive LLP
• Protonex, LG Fuel Cell Systems Inc.
• NexTech Materials
• Sunfire GmbH
• Rolls-Royce plc.
• DDI Energy Inc.
• KERAFOL Keramische Folien GmbH
• Point Source Power
• Bloom Energy
• Plug Power Inc.