SOFC Market

The global SOFC market was valued at 527.37 Million USD in 2021 and will grow with a CAGR of 11.34% from 2021 to 2027, based on Research newly published report.

The prime objective of SOFC Market is to provide the insights on the post COVID-19 impact wwhich will help market players in this field evaluate their business approaches. Also, SOFC Market covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).

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 cells are emission free power sources, which run on electrochemical conversion reactions. SOFC use ceramic electrolytes that are hard and non-porous in nature. As the electrolyte is a solid, the cells are not necessarily constructed in a plate-like configuration as seen in other fuel cell types. Electrical efficiency provided is around 50% to 60%. In applications designed to capture and utilize the system`s waste heat (cogeneration), the overall fuel use efficiency could top 80% to 85% and operate at very high temperatures of around 1,000C (1,830F). The unique properties of solid oxide fuel cell such as portability, long-term stability, easy fuel selection, and emission-free power serve this requirement. These cells have vast applications, with military applications expecting the highest growth. Planar SOFC has been identified to be the dominating fuel cell in the market for its versatility. Asia-Pacific is the leading market for SOFC with Japan and South Korea dominating the region.

By Market Verdors:

• Bloom Energy
• FuelCell Energy
• Aisin Seiki
• Siemens Energy
• Protonex
• LG Fuel Cell Systems
• Acumentrics
• Delphi Corp
• ZTEK Corporation
• Redox Power Systems

• Planar
• Tubular

• Stationary
• Transportation
• Portable & Military

• Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the markets competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.
• Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.
• Market Trends: Market key trends which include Increased Competition and Continuous Innovations.
• Opportunities and Drivers: Identifying the Growing Demands and New Technology
• Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.

• To gain insightful analyses of the market and have comprehensive understanding of the global market and its commercial landscape.
• Assess the production processes, major issues, and solutions to mitigate the development risk.
• To understand the most affecting driving and restraining forces in the market and its impact in the global market.
• Learn about the market strategies that are being adopted by leading respective organizations.
• To understand the future outlook and prospects for the market.
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