Solid Oxide Fuel Cell (SOFC) Market By Type (Planar SOFC, Tubular SOFC), By Application (Stationary, Portable, Transport) - Growth, Share, Opportunities & Competitive Analysis, 2016 -2024

Solid oxide fuel cells (SOFCs) refer to the type of fuel cells that convert electrochemical fuel to electricity with negligible pollution. With the growing popularity of the SOFC technology, numerous end-use industries have been keen on adopting and deploying effective SOFC-based power generators. In addition, factors such as higher efficiency and lower population have propelled various government agencies and bodies to invest further towards the technology. Investments are being made towards continuing production of SOFCs along with increasing its adoption in numerous applications.

The most significant factor fueling the overall SOFC market growth is the superior advantages of these cells over other types. SOFCs provide higher efficiency of over 60% in generating electricity which is considerably high when compared to other fuel cells. In addition, the SOFCs operate at very high temperatures ranging between 800ºC to 1,000°C. Thereby, by harnessing the heat produced in the SOFC to generate electricity, the efficiency for the SOFCs can be enhanced to almost 80%. Thereby, the high operating temperatures of the SOFCs can be useful for cogeneration of electricity in various industrial applications.

However, one of the major factors restraining the adoption of SOFCs is its nature of operating at very high temperatures. The SOFCs operate at a very high temperature as compared to other fuel cells currently available for use. Thereby, the SOFC systems takes time to reach its optimum operating temperature and function effectively. Hence, the SOFCs have found limited penetration in various mobile applications.

Solid Oxide Fuel Cell (SOFC) Market

The report titled “Global Solid Oxide Fuel Cell (SOFC) Market- Growth, Future Prospects and Competitive Analysis, 2016 – 2024” offers strategic insights into the global SOFC industry along with the market size and estimates for the duration 2014 to 2024. The said research study covers in-depth analysis of multiple market segments based on SOFC types, applications and cross-sectional study across different geographies. The study covers the comparative analysis of different segments for the years 2015 & 2024. The report also provides a prolific view on market dynamics such as market drivers, restraints and opportunities. The report incorporates a separate section highlighting key trends analysis of the overall SOFC market.

In order to help the strategic decision makers, the report also includes profiles of the leading SOFC manufacturers, their business strategies and key developments. The major players profiled in the report are FuelCell Energy Solutions, Kyocera Corporation, Ceres Power Holdings Plc., Atrex Energy, Doosan Fuel Cell, Dominovas Energy Corporation and Delphi Automotive Systems LLC. Further, the report also covers market positioning of the key players operating in the SOFC market. The section further includes a brief on key strategies adopted by the major players operating in the market. Other in-depth analysis provided in the report includes:

  • Current and future market trends to justify the forthcoming attractive markets within the SOFC industry
  • Market fuelers, market impediments, and their impact on the market growth
  • In-depth competitive environment analysis
  • Trailing 2-Year market size data (2014 – 2015)
  • SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global SOFC market, offering market size and estimates for the period from 2016 to 2024, keeping in mind the above mentioned factors.

On the basis of geography, the global solid oxide fuel cell (SOFC) market is segmented as per following regions and countries.

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • South Korea
    • Rest of Asia Pacific
  • Rest of the World (RoW)
    • Middle East & Africa (MEA)
    • Latin America

Solid Oxide Fuel Cell (SOFC) Market

As of 2015, the global SOFC market is dominated, in terms of revenue and volume, by the Asia Pacific region. The region contributes to a market share of more than fifty percent of the total revenue generated worldwide. The market is majorly governed by countries such as Japan and South Korea. Across the overall Asia Pacific region, South Korea accounts for the second largest share in SOFC market, after Japan. South Korea aims to generate nearly 11% of its energy from renewable energy sources by 2035. The nation has emphasis on fuel cells, especially SOFC owing to their higher energy efficiency. Additionally, Seoul, the national capital of South Korea, aims to achieve 50% electricity generation from renewable sources using fuel cells by 2030. This has been the most significant factor fueling the SOFC market in the country.

Choose License Type
Published Date:  Mar 2017
Category:  Technology & Media
Report ID:   58370
Report Format:   PDF
Pages:   120
Rating:    4.3 (60)
Connect With Us
24/7 Research Support