Solid Oxide Fuel Cell Market Report- Application: Power Generation, Combined Heat & Power, and Military
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Top Company Profile Analysis in this Report- Bloom Energy (US), Ceres Power (UK), Mitsubishi Power (Japan), Aisin Seiki Co (Japan), and Hitachi Zosen (Japan).
The global solid oxide fuel cell market size is projected to reach USD 2,881 million by 2025 from estimated revenue of USD 772 million in 2020, at a CAGR of 30.1% during the forecast period. The key drivers for the solid oxide fuel cell market include government subsidies and increased R&D on fuel cell programs; fuel flexibility and increasing demand for energy-efficient power generation and stringent emission norms in Europe & North America leading to demand for clean energy sources.
The report defines, describes, and forecasts the solid oxide fuel cell market, by type, application, end-user, and region. It also offers detailed qualitative and quantitative analyses of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include the analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the solid oxide fuel cell market.
The planar segment is expected to be the largest market, by type, during the forecast period. The growth is evident owing to the simple geometry and relatively easier construction process. Planar type of solid oxide fuel cells is typically designed in such a way that the ceramic fuel cell modules are arranged one above the other in a sandwich-type design with the electrolyte inserted between the electrodes
The stationary segment of the market, by application, is estimated to be the largest during the forecast period. The growth of the stationary segment is driven by the increasing focus on hydrogen-powered fuel cells for back-up power. The market for the stationary segment in Asia Pacific is expected to grow at the highest CAGR during the forecast period due to the fact that the governments of South Korea, China, and Japan are highly focusing on utilizing renewable energy and hence opting for utility-scale SOFC power plant.
North America is the largest solid oxide fuel cell, followed by Asia Pacific and Europe. The region has been segmented, by country, into US and Canada. US is the largest and fastest growing market in the region. The growth in this country can be attributed to the high demand for fuel cell power generation, as well as increasing research and development for hydrogen generation. In addition, government policies and subsidies, including the Department of Energy’s (DoE’s) Solid State Energy Conversion Alliance (SECA) Program, are the prime driving factors for growth in the US market.
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier I–61%, Tier II–19%, and Tier III–20%
By Designation: C-Level–56%, Director Level–30%, and Others–14%
By Region: Asia Pacific–33%, North America–27%, Europe–20%
The tier of the companies is defined on the basis of their total revenue as of 2017—Tier 1: USD 1 billion, Tier 2: from USD 1 billion to USD 500 million, and Tier 3: < USD 500 million.
Key benefits of buying the report:
The report will help market leaders/new entrants in this market in the following ways:
This report segments the global solid oxide fuel cell market comprehensively and provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.
The report helps stakeholders understand the pulse of the solid oxide fuel cell market and provides them with information on key market drivers, restraints, challenges, and opportunities.
This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, agreement, and acquisitions.
Reasons to buy the report:
The report will help market leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall solid oxide fuel cell market and the sub-segments. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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Table Of Contents in this Report-
1.1 Study Objectives
1.2 Market Definition
1.2.1 Solid Oxide Fuel Cell Market, By Application: Inclusions & Exclusions
1.2.2 Solid Oxide Fuel Cell Market, By Type: Inclusions & Exclusions
1.2.3 Solid Oxide Fuel Cell Market, By End User: Inclusions & Exclusions
1.3 Market Scope
1.3.1 Markets Covered
Figure 1 Market Segmentation: Solid Oxide Fuel Cell Market
1.3.2 Geographic Scope
1.3.3 Years Considered
1.7 Summary Of Changes
2 Research Methodology
2.1 Research Data
Figure 2 Solid Oxide Fuel Cell Market: Research Design
2.2 Market Breakdown And Data Triangulation
Figure 3 Data Triangulation Methodology
2.2.1 Secondary Data
220.127.116.11 Key Data From Secondary Sources
2.2.2 Primary Data
18.104.22.168 Key Data From Primary Sources
22.214.171.124 Breakdown Of Primaries
Figure 4 Main Metrics Considered While Assessing Demand For Solid Oxide Fuel Cell Solutions
2.4 Market Size Estimation
2.4.1 Demand Side Analysis
Figure 5 Year-On-Year Capacity Addition Of Solid Oxide Fuel Cell Technology Across Countries Is Key Determining Factor For Market Size Estimation
126.96.36.199 Demand Side Key Assumptions
188.8.131.52 Demand Side Calculation
184.108.40.206 Assumptions For Demand Side
2.4.2 Supply Side Analysis
Figure 6 Key Metrics Considered For Assessing Supply Of Solid Oxide Fuel Cell 34
Figure 7 Solid Oxide Fuel Cell Market: Supply Side Analysis
220.127.116.11 Calculations For Supply Side
18.104.22.168 Assumptions For Supply Side
3 Executive Summary
Table 1 Solid Oxide Fuel Cell Market: Snapshot
Figure 8 North America Dominated Solid Oxide Fuel Cell Market In 2019
Figure 9 Planar Sofc Segment To Lead Solid Oxide Fuel Cell Market, By Type, During Forecast Period
Figure 10 Stationary Sofc Segment Is Expected To Lead The Market By Application In 2020
Figure 11 Power Generation Sofc Segment Is Expected To Lead The Market By End User In 2020
4 Premium Insights
4.1 Attractive Opportunities In Solid Oxide Fuel Cell Market
Figure 12 Increasing Power And Clean Hydrogen Generation To Boost Market Growth During Forecast Period
4.2 Solid Oxide Fuel Cell Market, By Country
Figure 13 Asia Pacific To Be Fastest-Growing Market During Forecast Period
4.3 Solid Oxide Fuel Cell Market, By Type
Figure 14 Planar Sofc Segment Accounted For Largest Market Share In 2019 42
4.4 Solid Oxide Fuel Cell Market, By Application
Figure 15 Stationary Segment To Lead Solid Oxide Fuel Cell Market During Forecast Period
4.5 Solid Oxide Fuel Cell Market, By End User
Figure 16 Power Generation Segment To Lead Solid Oxide Fuel Cell Market During Forecast Period
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