Solid Oxide Fuel Cell Market Research Report Information | Delphi (U.K.), Atrex Energy (U.S.), Redox Power Systems (U.S.), Ceres Power Holdings Plc. (U.K.), Ceramic Fuel Cell Ltd. (Australia), FuelCell Energy (U.S.), Protonex (U.S.)

The global solid oxide fuel cell market is anticipated to touch USD 1,183.6 million by 2023, as per an insightful report by Market Research Future (MRFR).

It is expected to expand at a 12.87% CAGR during the assessment period (2017-2023). Solid oxide fuel cells (SOFCs) are fuel cells capable of generating power through electrochemical reactions. These devices use electrolytes made from zirconium or calcium to attain the necessary electrical efficiency. Its ability to function efficiently at low temperatures has led to investments from major industries.

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The higher electrical efficiency rate of SOFCs is the primary factor fueling market demand globally. The huge potential of the technology in developing economies looking to curb energy costs can be a huge opportunity for the market. In addition, environmental concerns regarding emissions and renewable energy targets of countries can work favorably for the market in the coming years. Alternatives to SOFCs pose the biggest threat to market growth.

Report Overview

This report allows the user to gain a deeper understanding of the current events and trends in the market for solid oxide fuel cells. By correlating the historical data with key market dynamics, our analysts were able to make highly accurate projections in the report. MRFR’s report includes a thorough segmental analysis of the global solid oxide fuel cell market segmented on the basis of type, mobility, application, end-user, and region with astute insights. This report has been prepared to assist industry participants in making informed decisions on growth strategies and operation management. Users will also come across drivers, trends, opportunities, and restraints which are likely to influence the growth of the market during the assessment period.

Segment Overview

By type, the solid oxide fuel cell market has been segmented into tubular and planar. The planar segment can be expected to showcase a strong growth rate owing to high energy efficiency and low power losses accrued by its usage. Its future applications in underwater vehicles, auxiliary power units, and portable devices can boost segment growth during the forecast period.

By mobility, the market is segmented into stationary and portable. By application, the market is segmented into power generation, military, and combined heat & power. The power generation segment is likely to dominate over the forecast period owing to increasing demand for power in energy-producing plants for cooling purposes.

Major market end-users include data center, commercial & residential, retail, and auxiliary power units. The data center segment is likely to garner immense market demand owing to corporate giants shifting their proprietary data to the cloud for curbing operational expenditures. The use of SOFCs in these data centers are energy-efficient and play a huge role in curtailing carbon emissions.

The segments and sub-segments covered in the report are analyzed under three major regions – North America, Europe, and Asia Pacific (APAC), with respective country-level market sizing. For the scope of research, the standard definition of the product/service “solid oxide fuel cell” is included in the report. The report discusses and interprets the current and future opportunities of the industry by delivering an unbiased growth assessment.

Players Covered

Delphi (U.K.), Atrex Energy (U.S.), Redox Power Systems (U.S.), Ceres Power Holdings Plc. (U.K.), Ceramic Fuel Cell Ltd. (Australia), FuelCell Energy (U.S.), Protonex (U.S.), WATT Fuel Cell Corporation (U.S.), Elcogen (Estonia), Bloom Energy (U.S.), and Convion Fuel Cell Systems (Finland) are noteworthy players in the solid oxide fuel cell market. Infrastructural projects involving the construction of retail chains can provide opportunities to market players.

The report offers comprehensive profiles on these market players and assesses their current standing in the solid oxide fuel cell market. Company history coupled with annual turnover, segmental share, SWOT analysis, growth strategies, new product launches, mergers and acquisitions (M&A) activities, and latest R&D initiatives are outlined in the report.

Research Methodology

Market Research Future (MRFR) uses a combination of primary and secondary research to compile market reports. Primary data is accumulated from interviewing industry stalwarts and secondary research is collated by studying white papers and annual reports of leading players. Our analysts use top-down and bottom-up approaches to validate the findings of the report. The report comprises news, current trends, and future prospects related to the market, all of which can provide a thorough understanding of the market to clients. Industry leaders can make accurate business decisions based on our insights.

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Analysis Period

Base Year - 2017
Projection Period - From 2018 to 2023
Market Denomination - USD Million
Conversion Rate - Considered as per the respective financial years
For the scope of research, the report offers a comprehensive analysis of the global solid oxide fuel cell market.

Type

Planar
Tubular
Mobility

Stationary
Portable
Application

Combined Heat & Power
Power Generation
Military
End-user

Data Center
Commercial & Residential
Retail
Auxiliary Power Units
Region

North America; the U.S.
Europe; Italy, Germany, the U.K.
Asia Pacific; India, Japan, South Korea,
Intended Audience

Manufacturing Companies
Solid Oxide Fuel Cell Manufacturers
Solid Oxide Fuel Cell Service Providers

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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