Solid Oxide Fuel Cell Market

The global Solid Oxide Fuel Cell (SOFC) market was valued at 43.58 Million USD in 2021 and will grow with a CAGR of 12.55% from 2021 to 2027, based on newly published report.

The prime objective of Solid Oxide Fuel Cell 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, Solid Oxide Fuel Cell 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.Categorization on the basis of technology includes tubular, planar and other SOFCs. Planar SOFC have the largest market demand on account of higher power ratio as compared to other SOFCs, despite high installation costs. Planar SOFC has the highest electrical efficiency that allows great potential for applications in military, leading to higher demand in the aforementioned application. Further segmentation on the basis of application includes transportation, military and portable energy purposes, as well as small & large stationery. Major SOFC application lies in military on account of portability and compact nature of these fuel cells. Power output is also higher and easier to achieve than other conventional solar cells, which is expected to positively impact the SOFC growth market during the forecast period. High costs of commercialization and catalysts, as well as complexity in infrastructure establishment are expected to hinder the SOFC market growth over the forecast period. SOFC also requires high temperatures for activation of ceramic electrolytes in the device, which could lead to chemical and mechanical compatibility issues and longer start-up buffer time.

By Market Verdors:

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

By Types:

Tubular

Planar

By Applications:

Transportation

Portable & Military

Stationary

Key Indicators Analysed

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 market?s 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.

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