Expected growth of Global Planar Solid Oxide Fuel Cell Market to $804.9 Million by 2022 | Top Key players are FuelCell Energy, Ultra Electronics, Ceres Power, Ballard Power Systems, SOLIDpower Group, Delphi, Chevron

According to P&S Intelligence, the global planar solid oxide fuel cell market is projected to reach $804.9 million by 2022, growing at a CAGR of 11.4% during 2016 - 2022.
Global planar solid oxide fuel cell market worth $379.9 million in 2015

As per the research, the global planar solid oxide fuel cell market is likely to grow from $379.9 million in 2015 to $804.9 million by 2022. With the increasing need for high electrical efficiency, growing utilization of biomass, and rising applications in the military, transportation and small stationary sectors, the global market for planar solid oxide fuel cell is expected to witness a robust pace during the forecast period. Solid oxide fuel cell is an energy-efficient process that converts the fuel into electricity through either combustion or integrated gasification combined cycle, thereby ensuring the removal of CO2 from exhaust streams. The demand for planar solid oxide fuel cell is expected to grow at a steady rate in North America and Europe during the forecast period due to the increasing demand for alternative electric power generation technologies and growing preference towards distributed power generation.

Download the Sample Report @ https://www.psmarketresearch.com/market-analysis/planar-solid-oxide-fuel-cell-market/report-sample

Insights on market segments

As per the findings of research, the stationary was the largest application segment of planar solid oxide fuel cell. Based on component, planar cells generated the largest revenue in global planer solid oxide fuel cell market.

Get the Detailed Analysis @ https://www.psmarketresearch.com/market-analysis/planar-solid-oxide-fuel-cell-market

Asia-Pacific stands as the largest planar solid oxide fuel cell market

Geographically, Asia-Pacific was the largest market for planar solid oxide fuel cell, where Japan was the largest contributor to the regional market. U.S. was the major market for planar solid oxide fuel cell in North America, whereas in Europe, Germany generated the highest revenue. Rest of the World (RoW) includes Latin American and Middle East and African countries. Brazil was the largest market for planar solid oxide fuel cell in the RoW.

Growing demand for renewable and efficient energy source bolsters market growth

The main factors driving the growth of the global planar solid oxide fuel cell market include growing demand for renewable and efficient energy source and increasing demand from automotive sector. Increasing government regulations such as the Integrated Product Policy by European Commission focusing on addressing the environmental impacts of the non-renewable products has been observed in the global market for planar solid oxide fuel cell during the past decade. The search for renewable and environment-friendly source of energy would generate the demand for planar solid oxide fuel cell, that is expected to impact the market positively in both short and long term.

Make enquiry before purchase @ https://www.psmarketresearch.com/send-enquiry?enquiry-url=planar-solid-oxide-fuel-cell-market

In the recent years, the government of various nations including the U.S., Germany, Japan, South Korea and China have been increasingly supporting the advancements in the planar solid oxide fuel cell technology by funding projects and research activities. For instance, as of October 2016, the U.S. Department of Energy (DOE) has invested approximately $3 million for advancing the commercialization of planar solid oxide fuel cell technology, globally.

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

Contact:
P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: www.psmarketresearch.com

This release was published on openPR.