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Solid Oxide Fuel Cells (SOFCs) Market - Global Industry Analysis, SWOT Analysis, Competition and Forecasts 2022 to 2028
The research study on the global Solid Oxide Fuel Cells (SOFCs) market covers industry sectors, market climate, emerging innovations, competitive intelligence, and current developments in the industry. The sector study investigates the business dynamics of the rising economy, as well as current driving forces, market conditions, risks, trends, and problems. The analysis identifies the exact impact on the revenue and demand due to the disturbances caused by the occurrence of COVID-19. The recently launched growth strategies and development programs by the government and leading players in the market with the aim to impulse growth in the Solid Oxide Fuel Cells (SOFCs) market are included in the report.The Solid Oxide Fuel Cells (SOFCs) market is expected to grow at a CAGR of 33.9% over the forecast period (2022-2028), according to Market intelligence data.
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Main Key Players:
Adelan, Atrex Energy, Bloom Energy, Ceres Power, Mitsubishi Power,Convion, Delphi Automotive, CERES , Hitachi ,Elcogen, FuelCell Energy, Versa Power Systems, Hexis, LG Fuel Cell Systems, Nexceris, Protonex Technology and others.
Recent Developments
In September 2021, Bloom Energy launched the Hydrogen Energy Server which can deliver on site electricity powered entirely by hydrogen and they use solid oxide stacks the commercial shipments of these electrolyers are expected to begin from 2022. These servers were tested for five months in Ulsan (South Korea) in association with SK Ecoplant (South Korea)
In August 2020, Aisin corporation and Aisin AW, both part of the Aisin Group, planned to integrate their management to strengthen their advanced research business. This integration enhanced the efficiency of interconnected projects and resources, resulting in agile research structure
In August 2020, Mitsubishi Power signed a contract with Asahi Quality & Innovations, Ltd., to provide its MEGAMIE solid oxide fuel cell (SOFC) systems for a demonstration project. This project is a part of the Japanese government's Low Carbon Technology Research, Development and Demonstration Program. Asahi Quality & Innovations, Ltd., conducted tests under this project to generate power from small SOFC units that used the biogas coming out from the Ibaraki Brewery wastewater. The tests showed that the system generated continuous power for 10,000 hours and was rated at 200 kW. It supplied around 1,600 MWh of power and decreased the CO2 emissions by 1,000 tons annually. This project was financed by Sumitomo Mitsui Finance and Leasing Co., Ltd. via a lease scheme.
In November 2021, Hitachi invested into development of a Hydrogen multi resource platform. In which Hitachi will be developing a SOFC hybrid cogeneration system.
In February 2022, CERES, Weichai and Bosch agreed to form a three-way collaboration to look for opportunities in China. Two separate joint ventures will be signed. The first one will be a three-way system JV ("System JV") which will be for the development and manufacture of solid oxide fuel cell (SOFC) systems. The second joint venture names the "Stack JV" will be established to supply fuel cell stacks to the system JV and potentially other third parties
In September 2021, CERES Invested into two projects to determine the most effective Ways to apply SOFC technology in megawatt cruise ship. The funding was received by UK department of Transport
Dividing the Global Solid Oxide Fuel Cells (SOFCs) Market by Product types and Application
Segmentation By Type:
Planar
Thin film
Tubular
Segmentation By Application:
Generators
Aircrafts
Military
Other
Market Analysis and Insights: Global Solid Oxide Fuel Cells (SOFCs) Market
Solid Oxide Fuel Cells (SOFCs) Market report provides you with detailed insights, industry knowledge, market forecasts and analytics. The report on the global Solid Oxide Fuel Cells (SOFCs) industry also clarifies economic risks and environmental compliance. Global market report assists industry enthusiasts including investors and decision makers to make confident capital investments, develop strategies, optimize their business portfolio, innovate successfully and perform safely and sustainably.
The report on the Solid Oxide Fuel Cells (SOFCs) market covers the following region (country) analysis:
North America (the United States, Canada, and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and the Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and the Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and the Rest of the Middle East & Africa)
North America: The largest region in the solid oxide fuel cell market in the year 2022.
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.
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Key takeaways from the Solid Oxide Fuel Cells (SOFCs) Industry study
- Simplified and insightful comprehensive Solid Oxide Fuel Cells (SOFCs) market analysis
- Evaluation of growth derivatives, crucial constraints, opportunities, and challenges
- Internal business overview including business connectivity, sales records, supply chain strategies and capabilities, product development, and marketing trends
- Exact Solid Oxide Fuel Cells (SOFCs) industry valuation
- Future forecasts and Solid Oxide Fuel Cells (SOFCs) market estimations followed by a demand to supply ratio projections
- Competitive benchmarking coupled with competitive analysis
- Key strategic initiatives fuelling Solid Oxide Fuel Cells (SOFCs) market growth
- In-depth assessment of the product, application, and regional segments
- Neutral geographic survey based on macro and micro-economic factors highlighting the growth potential of developed and developing economies
Following are the major TOC of the Solid Oxide Fuel Cells (SOFCs) Market:
Chapter 1: Solid Oxide Fuel Cells (SOFCs) Market Overview
Chapter 2: Global Economic Impact on Industry
Chapter 3: Global Solid Oxide Fuel Cells (SOFCs) Market Competition by Manufacturers
Chapter 4: Global Production, Profits (Value) by Region
Chapter 5: Global Supply (Production), Import, Export, Consumption, by Regions
Chapter 6: Global Price Trend by Type, Revenue (Value), Production
Chapter 7: Manufacturing Cost Analysis
Chapter 8: Global Market Analysis by Application
Chapter 9: Industrial Chain and Downstream Buyers, Sourcing Strategy
Chapter 10: Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Market Effect Factors Analysis
Chapter 12: Global Solid Oxide Fuel Cells (SOFCs) Market Forecast
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The years considered for the study are as follows:
Base Year: 2021
Estimated Year: 2022
Projected Year: 2028
Forecast Period: 2022 to 2028
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