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Solid Oxide Fuel Cell Market Rising as Companies are Dedicated Towards Cleaner Energy Solutions, Reaching $869.71 Million by 2030

10-26-2022 01:43 PM CET | Energy & Environment

Press release from: Strategic Market Research

Solid Oxide Fuel Cell Market Rising as Companies are Dedicated

The global solid oxide fuel cell market worth in 2021 was $869.71 million and will reach $12.25 billion by 2030, growing at an 11.78% CAGR during 2021-2030. Solid oxide fuel cells are devices that have a ceramic membrane that allows them to conduct ions & flow currents at high temperatures. They are electrochemical devices that use solid metal oxide electrolytes that are non-porous to transform chemical energy into thermal and electrical energy utilizing hydrogen fuel. Due to their capacity to work at high temperatures, great efficiency, stability, and acceptance of many fuel sources, these units are widely employed in a variety of applications.

Solid Oxide Fuel Cell Market Insights:
• On the basis of application, in 2021 stationary segment ruled the overall solid oxide fuel cell market with a revenue share of nearly 79%.
• In 2021, the data centers segment held a significant position, with a revenue share of approximately 41% on the basis of the end user.
• Geographically, North America led the solid oxide fuel cell market, with a revenue share of nearly 44% in 2021.

Make a Direct Purchase of the latest Solid Oxide Fuel Cell Market Report published in the month of Sep-2022. Click the below link to initiate the purchase:
https://strategicmarketresearch.com/buy-now/solid-oxide-fuel-cell-market

Solid Oxide Fuel Cell Market Dynamics
The usage of solid oxide fuel cells has increased over the past several years due to the growing demand for higher energy efficiency in connection with the production of electricity. The solid oxide fuel cell market is expanding as a result of rising environmental concerns, the implementation of strict emission rules globally, as well as increased government backing and efforts.
For the installation of fuel cells and the purchase of new energy vehicles, several governments provide subsidies. Clean energy sources have been adopted as a result of the growing global population and increased energy demand. They can provide a variety of devices with clean, effective, and dependable power generation.

Solid Oxide Fuel Cell Market: A thorough Segmentation Analysis

The segmentation of Solid Oxide Fuel Cell Market has been done on the basis of Application, End-user, and region.

By Application:
• Portable
• Transport
• Stationary

By End-User
• Commercial & Industrial
• Residentials
• Data Centers
• Military & Defense

By Region
North America
• Mexico
• Canada
• United States

Europe
• United Kingdom
• France
• Italy
• Germany
• Turkey
• Belgium
• Netherlands
• Switzerland
• Spain
• Russia
• Netherlands
• Rest of Europe

Asia Pacific
• Japan
• India
• China
• Australia
• Malaysia
• Thailand
• Indonesia
• Philippines
• South Korea
• Rest of Asia Pacific

LAMEA
• Argentina
• Brazil
• Saudi Arabia
• Uruguay
• Rest of LAMEA

To get a first-hand overview of the report, Request a Sample at:
https://strategicmarketresearch.com/request-sample/solid-oxide-fuel-cell-market

On the basis of application, in 2021 stationary segment ruled the overall solid oxide fuel cell market with a revenue share of nearly 79%. The quick rise in energy consumption across many industries is responsible for segment expansion and the desire for low-carbon substitutes for effective power generating and cogeneration facilities. One of the purest and most efficient heat and power production technologies is the stationary SOFC system, propelling the SOFC market expansion in this sector.

Geographically, North America led the Solid Oxide Fuel Cell market, with a revenue share of nearly 44% in 2021. The region's product demand is driven by strong demand for fuel cell power generation and increased research and development for hydrogen generation. The market in the United States has risen at a fantastic rate and is expanding significantly faster than the rest of the world, thanks to strong government support and strategic market emphasis. The U.S. Department of Energy (DOE) stated in September 2021 that it will provide the U.S. with $ 34 million to design and manufacture small-scale SOFC systems.

Before initiating a purchase, make a Pre-order inquiry and get a detailed overview of the content of the report: https://strategicmarketresearch.com/pre-order-enquiry/solid-oxide-fuel-cell-market

Key industry Players in the solid oxide fuel cell market
• Sunfire
• Miura
• Special Power Source
• AVL
• Elcogen AS
• H2ePower
• ZTEK Corporation
• Kyocera Corporation
• Mitsubishi Power
• Adaptive Energy
• Adelan
• Aisin Seiki
• Bloom Energy
• Solid Power
• Ceres Power
• Watt fuel cell corporation
• Convion Ltd
• Upstart Power

The worldwide solid oxide fuel cell market in 2021 was worth $869.71 million and will reach $12.25 billion by 2030, growing at an 11.78% CAGR during 2021-2030. Because of their better efficiency and lower environmental impact, solid oxide fuel cells are becoming more popular. These cells offer exceptional performance with more than 60% fuel-to-electricity conversion efficiency.

To Know More Visit: https://www.strategicmarketresearch.com/market-report/solid-oxide-fuel-cell-market

Contact Us:
Strategic Market Research LLP.
Sunil Kumar
India: +91-8260836500
Email: info@strategicmarketresearch.com
Web: https://www.strategicmarketresearch.com
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Press Release: https://www.strategicmarketresearch.com/press-releases

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https://www.globenewswire.com/news-release/2022/06/30/2472487/0/en/Endoscopy-Devices-Market-s-expected-worth-by-2030-is-USD-56-2-billion.html

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