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Solid Oxide Fuel Cell (SOFC) Market Report with Size, Share, Value, CAGR, Outlook, Analysis, Latest Updates, Data, and News 2027 - Bloom Energy, Siemens Energy, Aisin Seiki, Mitsubishi Heavy Industries

12-06-2021 09:48 AM CET | Energy & Environment

Press release from: Market Insights Reports

The Solid Oxide Fuel Cell (SOFC) Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.

The Global Solid Oxide Fuel Cell (SOFC) Market Size is Projected to Reach at a CAGR of 31% during 2021-2027.

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Market Overview:

The data centres sector is expected to witness significant growth in the forecast period, owing to various factors such as an increase in investments in data centres, and the usage of clean energy sources for powering these centres. The use of solid oxide fuel cells in these centres have seen a rise due to the energy efficiency of the fuel cells, and rising concerns over greenhouse gases emissions from conventional electricity generation methods.
The increasing demand for electrical energy to sustain global development requires consistent heavy investments in energy-efficient and clean energy sources. This has helped the market for solid oxide fuel cells to grow significantly in recent and is expected to do so in the forecast period.
The Asia Pacific is expected to dominate the market growth with the majority of the demand coming from the countries such as China and India, owing to the factors like economic growth in the emerging nations, an increasing number of data centres, and rising industrial activities.

Top Leading Companies:

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

Recent Developments

In August 2020, Aisin Seiki and Aisin AW, both part of the Aisin Group, plan to integrate their management to strengthen their advanced research business. This integration will enhance the efficiency of interconnected projects and resources, resulting in an agile research structure.
 In April 2020, Aisin Seki and its subsidiary Konan Kogyo established a hydrogen station to promote the transformation from petroleum-based energy to clean energy. Under this partnership, Toyota Group and Aisin Seiki plan to use fuel cell-electrified buses for transportation.
In November 2020, Bloom Energy and SK E&C won a competitive bid for Korea’s Changwon RE100 Project. Under this project, the duo will supply 100% hydrogen-powered solid-oxide fuel cells and electrolyzers. Bloom Energy will supply 1.8 MW of hydrogen-powered fuel cells through a multi-stage deployment from late 2021 into 2022. The fuel cells will be the cornerstone of a microgrid that also includes on-site solar and battery storage.
In December 2020, Ceres Power partnered with AVL List to enhance its product development and facilitate customer adoption of SOFC technology for a wide range of applications. This partnership is aimed to fuse AVL’s global footprint and track record with Ceres Power’s technology.
In December 2020, Ceres Power collaborated with Bosch Group to produce SOFC systems based on Ceres’ fuel cell technology for the mass market. This collaboration is aimed at building sustainable power stations throughout the grid

Solid Oxide Fuel Cell (SOFC) Market Segmentation by Type:

Tubular
Planar
Others

Solid Oxide Fuel Cell (SOFC) Market Segmentation by Application:

Transportation
Portable & Military
Stationary

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The Asia Pacific to Dominate the Market
Asia-Pacific has dominated the solid oxide fuel cell market growth in 2018 and is expected to continue its dominance in the coming years as well. The region is expected to see an unprecedented increase during the forecast period.
Japan is leading in the region with vast applications of fuel cells, ranging from backup services for data centers, combined heat and power for homes, and many more. This is expected to provide significant market growth for the solid oxide fuel cell market.
China has also witnessed a rise in its hyper-scale platforms, owing to which providing data centre services for Chinese hyper-scale platforms have become necessary. China has 50 internet users per 100 population, indicating scope for a lot of development and the connectivity ecosystem and thereby driving the solid oxide fuel cells market.
Amazon Web Services is investing USD 1.6 billion to set up two data centers in India, with much of the investment going towards high-end computer and storage units.
Therefore, the aforementioned factors are expected to drive the market in the forecast period, similar to the trend witnessed in recent years.

Regional Solid Oxide Fuel Cell (SOFC) Market (Regional Output, Demand & Forecast by Countries)

North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) And additional.

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Highlights of the Solid Oxide Fuel Cell (SOFC) Market Report:

Detailed overview of Solid Oxide Fuel Cell (SOFC) Market
Changing the Solid Oxide Fuel Cell (SOFC) market dynamics of the industry
In-depth market segmentation by Type, Application, etc.
Historical, current and projected Solid Oxide Fuel Cell (SOFC) market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of Solid Oxide Fuel Cell (SOFC) Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising growth.

The research includes historic data from 2016 to 2021 and forecasts until 2027 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, the Solid Oxide Fuel Cell (SOFC) Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Solid Oxide Fuel Cell (SOFC) industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.

We Offer Customization on Report Based on Specific Client Requirement:

– Free country Level analysis for any 5 countries of your choice.

– Free Competitive analysis of any 5 key market players.

– Free 40 analyst hours to cover any other data point.

ABOUT US:

Market intelligence data is a global front-runner in the research industry, offering customers contextual and data-driven research services. Customers are supported in creating business plans and attaining long-term success in their respective marketplaces by the organization. The industry provides consulting services, Market Intelligence Data research studies, and customized research reports.

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Irfan Tamboli (Head of Sales) – Market Intelligence information

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