Global Solid Oxide Fuel Cell Market Over $ 681 Million To 2026

DUBLIN, June 18, 2021 / PRNewswire / – The “Solid Oxide Fuel Cell Market – Forecast 2021 to 2026” the report was added to ResearchAndMarkets.com offer.

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The solid oxide fuel cell market is expected to experience a compound annual growth rate of 24.46%, from 681.850 million US dollars in 2019 at US $ 3,154.260 million-lion in 2026.

The solid oxide fuel cell market is expected to increase by increasing investment to promote environmental sustainability, increasing the demand for renewable energy sources, and increasing the development of energy efficient systems to meet additional energy demands. . Nowadays, by increasing the awareness of environmental sustainability by reducing greenhouse gas emissions, the demand for solid oxide fuel cells is further increasing, leading to potential growth during the forecast period. . In addition to this, increasing research and development on fuel cell programs, government grants are also stimulating demand for solid oxide fuel cell markets. North America and Europe have a significant demand for clean fuel due to growing government awareness and strict rules for carbon emissions into the environment.

By application, the solid oxide fuel cell market is segmented into stationary, portable, transportation, commercial and industrial, residential and power storage. The stationary segment is expected to experience significant growth during the forecast period and will also hold a significant market share. The growth of this segment is driven by the increasing demand for hydrogen-based fuel cells which are used to meet the additional demand for energy. Asia Pacific region has growth potential in this segment, in particular, China, India, and South Korea. Market segmentation by end users occurs in data centers, military and defense, power generation, automotive, hydrogen production and others. Among them, power generation is the important segment which has the growth potential during the forecast period. The growing demand for energy-efficient renewable energy sources is driving this segment of the market, as power generation is an essential part of all activities (residential, commercial and industrial) such as defense and military, data centers, etc. at. Subsequently, data centers and military and defense have significant growth potential during the forecast period due to the increasing demand for data centers in Asia Pacific region, mainly driven by industrialization

By region, the solid oxide fuel cell market holds significant market share in North America as well as the potential growth opportunity over the forecast period. This region is mainly driven by growth opportunities in the United States and Canada, which is driven by the growing demand for research and development for hydrogen production and the growing demand for fuel cells. After North America, Asia Pacific The region holds significant market share and significant potential growth opportunity in the solid fuel cell market, followed by Europe Region. By type, the market is segmented into tabular, planar and thin sheets, where the planar segment is expected to have significant market share as well as significant growth rate in the market. The growth of this market segment is driven by the characteristics of planar fuel cells, i.e. its easy construction process and geometry.

Impact of COVID-19

The COVID-19 pandemic has negatively impacted the solid oxide fuel cell market, as it has hampered both the production and the consumer markets, where in the production market, manufacturing has been hampered due to blockages. Although this pandemic has raised awareness of the importance of energy efficiency and environmental sustainability and further increases the demand for technology and fuel cells to meet the growing demand for energy, heat and electricity to the market efficiently. However, the pandemic has slowed economies and severely affected industries, but has also boosted the solid oxide fuel cell market.

Recent developments

In 2019, FuelCell Energy launched a project to increase the commercialization of the technology for various uses such as power generation, energy storage, etc. The project is supported by the cooperation agreement issued by the US DoE. Bloom Energy has collaborated with Samsung Heavy Industries to provide innovative solid oxide fuel cells primarily for marine applications with the goal of reducing emissions by 50% from ships by 2050. Bloom energy holds the dominant market share in the solid oxide fuel cell market, mainly in US, South Korea, Japan, and India

Decarbonization is the goal of all governments while meeting the growing demand for heat, electricity and transportation. This will be assisted by fuel cells and technology that will not emit carbon. Adelan is working on a project, funded by UK Research and Innovation, to develop hydrogen fuel cells by 2040 to achieve decarbonization. Doosan Fuel-Cell is developing a solid oxide fuel cell based in Korea to achieve high efficiency power generation by 2024. At the same time, the company signed an agreement with Ceres Power, to develop a solid oxide fuel of 800 degrees Celsius or more. cell in order to achieve high power efficiency

Elcogen should $ 4.9 billion by 2022 in the solid oxide fuel cell market. Elcogen is expected to have a huge potential growth rate in the personal consumption sector for the solid oxide fuel cell market for heat and power generation, but the main challenge is the high cost of the technology and higher operating temperatures.

APAC will experience lucrative growth

Asia Pacific is expected to experience the highest growth in the solid oxide fuel cell market due to increasing demand for energy, increasing demand for energy efficient renewable energy sources to protect the environment, as well as industrialization and urbanization. In this region, India, China, Japan, and South Korea has potential and significant growth opportunities during the forecast period. Japan is experiencing potential growth due to increasing demand for data centers, demand for heat and electricity for personal consumption. India has the investment opportunities, government support and growing demand for heat and power which are driving the demand for solid oxide fuel cells in the market

Main topics covered:

1. Introduction

2. Research methodology

3. Executive summary

4. Market dynamics
4.1. Market factors
4.2. Market constraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining power of suppliers
4.3.2. The bargaining power of buyers
4.3.3. The threat of new entrants
4.3.4. The threat of substitutes
4.3.5. Competitive Rivalry in Industry
4.4. Industry value chain analysis

5. Global Solid Oxide Fuel Cell Market Analysis, By Type
5.1. introduction
5.2. Planar
5.3. Tubular
5.4. Thin layer

6. Global Solid Oxide Fuel Cell Market Analysis, By End Users
6.1. introduction
6.2. Data centers
6.3. Military and defense
6.4. Automotive
6.5. Other

7. Global Solid Oxide Fuel Cell Market Analysis, By Geography
7.1. introduction
7.2. North America
7.2.1. North America Solid Oxide Fuel Cell Market Analysis, By Type
7.2.2. North America Solid Oxide Fuel Cell Market Analysis, By End Users
7.2.3. By country
7.2.3.1. United States
7.2.3.2. Canada
7.2.3.3. Mexico
7.3. South America
7.3.1. South America Solid Oxide Fuel Cell Market Analysis, By Type
7.3.2. South America Solid Oxide Fuel Cell Market Analysis, By End Users
7.3.3. By country
7.3.3.1. Brazil
7.3.3.2. Argentina
7.3.3.3. Other
7.4. Europe
7.4.1. Europe Solid Oxide Fuel Cell Market Analysis, By Type
7.4.2. Europe Solid Oxide Fuel Cell Market Analysis, By End Users
7.4.3. By country
7.4.3.1. Germany
7.4.3.2. Spain
7.4.3.3. UK
7.4.3.4. France
7.4.3.5. Other
7.5. the Middle East and Africa
7.5.1. Middle East and Africa Solid Oxide Fuel Cell Market Analysis, By Type
7.5.2. Middle East and analysis of the solid oxide fuel cell market in Africa, by end users
7.5.3. By country
7.5.3.1. Saudi Arabia
7.5.3.2. South Africa
7.5.3.3. Other
7.6. Asia Pacific
7.6.1. Asia-Pacific Solid Oxide Fuel Cell Market Analysis, By Type
7.6.2. Asia-Pacific Solid Oxide Fuel Cell Market Analysis, By End Users
7.6.3. By country
7.6.3.1. China
7.6.3.2. Japan
7.6.3.3. South Korea
7.6.3.4. India
7.6.3.5. Other

8. Competitive environment and analysis
8.1. Major players and strategic analysis
8.2. Emerging players and market profitability
8.3. Mergers, acquisitions, agreements and collaborations
8.4. Supplier competitiveness matrix

9. Company profiles
9.1. Flowering energy
9.2. CMR Prototech
9.3. Eco-friendly
9.4. Adelan
9.5. Aisin Seiki
9.6. Adaptive energy
9.7. Convion fuel cells
9.8. Kyocera
9.9. Ztek Company
9.10. Cummins
9.11. Posco Energy

For more information on this report, visit https://www.researchandmarkets.com/r/fdkz8b

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