Global Planar Solid Oxide Fuel Cell Market: Highlights The Competitive Scenario Of The Market, Major Competitors And Benchmarking

Planar solid oxide fuel cell is used in oil and gas carrying pipelines, military and transportation applications. North America and Europe are expected to grow at a significant level on account of the increasing demand for alternative electric power generation technologies and growing preference towards distributed power generation. Asia-Pacific is expected to witness the significant growth rate in the global planar solid oxide fuel cell market during the forecast period with Japan being the largest contributor.

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The key trend witnessed in the global planar solid oxide fuel cell market includes growing demand for alternative methods of power generation and increasing government support. Factors such as stringent government laws coupled with increasing energy prices are the key trends observed in the market growth for planar solid oxide fuel cell. Growing importance of alternative energy-conversion devices are replacing combustion-based electrical generators due to the high-energy conversion efficiency and low emission of planar solid oxide fuel cell. Japan reinforced its goal to create a hydrogen society, with vehicles, homes and businesses powered by fuel cells.

In the recent years, increasing government regulations including the Integrated Product Policy has been implemented to address the environmental impacts of the non-renewable products. Most of the global players are commercializing the development of planar solid oxide fuel cell technology for application in stationary power generation. This would further spike the demand for planar solid oxide fuel cell during the forecast period.

The global planar solid oxide fuel cell market is driven by the growing demand for renewable and cost effective energy sources. The search for renewable and environment-friendly source of energy would generate the demand for planar solid oxide fuel cell, impacting the market positively in both short and long term.

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High capital investment and operational cost is also expected to restraint the growth of overall market. Conventional solid oxide fuel cell technology requires high cost of cells, stack and balance-of-plant components, and robustness to real-world operating conditions such as the unplanned fuel interruptions at operating temperature and thermal cycling. Additionally, planar solid oxide fuel cell requires additional equipment to protect the stack from failures or damages, adding to further costs.

The global market is dominated by major players such as FuelCell Energy, Inc., Aisin Seiki Co., Ltd., Ultra Electronics Holdings plc, Ceres Power Holdings plc, Ballard Power Systems Inc., SOLIDpower S.p.a, Convion Ltd., Delphi Automotive PLC., and Chevron Corporation.

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