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Solid Oxide Fuel Cell market size was valued at US$ 605.6 million in 2020 and is projected to reach US$ 1451.4 million by 2027, at a CAGR of 13.3% - valuates reports
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Solid Oxide Fuel Cell Market Analysis
Based on type, the planar segment will dominate the solid oxide fuel cell market share due to easy construction and simplified geometric design. The fuel cells are arranged in a sandwich-type design one above the other with electrolytes inserted in between the electrodes.
Based on application, the stationery segment will witness considerable growth in the solid oxide fuel cell market share as stationery SOFCs are deployed in a variety of industrial applications for power generation such as data centers, and the military. Additionally increasing installation in residential and commercial areas due to favorable regulatory support will also contribute to the growth.
Based on region, North America will be the most lucrative during the forecast period due to extensive R&D initiatives and huge demand for fuel cell power generation.
Solid Oxide Fuel Cell Market by Type
➣Tubular
➣Planar
➣Others
Solid Oxide Fuel Cell Market by Application
➣Transportation
➣Portable & Military
➣Stationary
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