Market Research Report
Solid Oxide Fuel Cell - Global Market Outlook (2017-2026)
|Published by||Stratistics Market Research Consulting||Product code||521453|
|Published||Content info||192 Pages
Delivery time: 2-3 business days
|Solid Oxide Fuel Cell - Global Market Outlook (2017-2026)|
|Published: September 1, 2018||Content info: 192 Pages||
According to Stratistics MRC, the Solid Oxide Fuel Cell market is accounted for $389.21 million in 2017 and is expected to reach $1356.51 million by 2026 growing at a CAGR of 14.9%. Factors that are driving the market include rising demand for energy efficient power generation, increasing private-public partnerships, biomass utilization and variety of fuels. However, risks associated with investment in hydrogen refuelling stations and high capital costs are hampering the market growth. In addition, integration technologies are providing growth opportunities for the market.
A Solid Oxide Fuel Cell generates electricity by electrochemical process that involves oxidation of the electrolyte, when placed between the two electrodes anode and cathode. Fuel cells are considered as potential candidates for mobile power and auxiliary power. The benefits offered by SOFC are little cost, low emission, lasting stability, high efficiency and fuel flexibility.
Amongst application, stationary segment is anticipated to grow at a considerable market share due to growing adoption of fuel cells in automobiles, marine and trucks. Furthermore, huge scale of projects to power homes with solid oxide fuel cells is also fuelling the market. By geography, North America is expected to lead the global market and will continue to lead the SOFC market throughout the forecasted period due to increasing demand for efficient power generation and government subsidies.
Some of the key players in the Solid Oxide Fuel Cell market include SOFC Power S.P.A, Watt Fuel Cell Corporation, Ultra Electronics Ami, LG Fuel Cell Systems Inc., Staxera-Sunfire Gmbh, Protonex Type Corporation, Ultra Undersea Sensor Systems, General Electric, Elcogen, Hexis AG, Fuel Cell Energy, Delphi Automotive LLP, Convion Fuel Cells Ltd, Ceres, Power Holdings Plc, Ceramic Fuel Cells Limited, Bloom Energy Corporation, Aisin Seiki Co., Ltd., Acumentrics Corporation, Adaptive Materials, Inc and Altair Nanotechnologies Inc .