Solid Oxide Fuel Cell (SOFC) Market Size, Share, Growth, Industry Analysis Report

The Solid Oxide Fuel Cell market size was valued at 410 Million US$ in 2018 and is projected to reach 1110 Million US$ by 2025, at a CAGR of 13.3% during the forecast period.

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A solid oxide fuel cell (or SOFC) is an electrochemical conversion device that produces electricity directly from oxidizing a fuel. Fuel cells are characterized by their electrolyte material; the SOFC has a solid oxide or ceramic electrolyte. Advantages of this class of fuel cells include high efficiency, long-term stability, fuel flexibility, low emissions, and relatively low cost. The largest disadvantage is the high operating temperature which results in longer start-up times and mechanical and chemical compatibility issues.

Categorization on the basis of technology includes tubular, planar and other SOFCs. Planar SOFC have the largest market demand on account of higher power ratio as compared to other SOFCs, despite high installation costs. Planar SOFC has the highest electrical efficiency that allows great potential for applications in military, leading to higher demand in the aforementioned application. Further segmentation on the basis of application includes transportation, military and portable energy purposes, as well as small & large stationery. Major SOFC application lies in military on account of portability and compact nature of these fuel cells. Power output is also higher and easier to achieve than other conventional solar cells, which is expected to positively impact the SOFC growth market during the forecast period. High costs of commercialization and catalysts, as well as complexity in infrastructure establishment are expected to hinder the SOFC market growth over the forecast period. SOFC also requires high temperatures for activation of ceramic electrolytes in the device, which could lead to chemical and mechanical compatibility issues and longer start-up buffer time.

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This report presents the worldwide Solid Oxide Fuel Cell (SOFC) market size (value, production and consumption), splits the breakdown (data status 2014-2019 and forecast to 2025), by manufacturers, region, type and application.

This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.

The following manufacturers are covered in this report:

o Bloom Energy
o Siemens Energy
o Aisin Seiki
o Mitsubishi Heavy Industries
o Delphi Corp
o GE
o Convion
o FuelCell Energy
o Atrex Energy, Inc
o SOLIDpower
o ZTEK Corporation
o Redox Power Systems
o Ceres
o Elcogen

Solid Oxide Fuel Cell (SOFC) Breakdown Data by Type

o Tubular
o Planar
o Others

Solid Oxide Fuel Cell (SOFC) Breakdown Data by Application

o Transportation
o Portable & Military
o Stationary

Solid Oxide Fuel Cell (SOFC) Production by Region

o United States
o Europe
o China
o Japan
o Other Regions

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