SOFC Market Key Vendors, Segment, Growth Opportunities

solid oxide fuel cell market size was estimated at USD 1.7 billion in 2021 and is foreseen to touch USD 14.8 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 27.18% over the forecast period 2022 to 2030.
A negative electrode (an anode) and a positive electrode (a cathode) sandwiched over an electrolyte engage in an electrochemical reaction to produce an electric current, which is common to all the various types of fuel cells. In solid oxide fuel cells (SOFC), the electrolyte is a hard, ceramic composition of metal oxides (chemically, oxygen in the case of calcium or zirconium oxides). Operating temperatures are around 1,000 °C (approximately 1,800 °F), and efficiency is around 60%. Up to 100 kW can be produced using cells. A reformer is not necessary to separate the hydrogen from the fuel at these high temperatures, and leftover heat can be recycled to generate more electricity. However, because SOFC devices are frequently quite big and are limited in their applications by high temperatures.

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SOFC Market: Segment Analysis
Global SOFC Market: Major Players
Bloom Energy
SOLIDpower
Atrex Energy, Inc
GE
ZTEK Corporation
Kceracell
Mitsubishi Heavy Industries America, Inc
Siemens Energy
Redox Power Systems
FuelCell Energy
Eltish

Global SOFC Market: By Types
Below 1 KW
1-10 kW
10-100 KW
Above 100 KW

Global SOFC Market: By Applications
Power Generation
Combined Heat & Power
Military

Global SOFC Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global SOFC market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Solid Oxide Fuel Cell market Because of its straightforward manufacturing and straightforward geometric design, the planar sector will command the majority of the solid oxide fuel cell market share. Electrolytes are inserted between the electrodes of the fuel cells, which are stacked one on top of the other in a sandwich-like configuration. As stationary SOFCs are used in a number of industrial power generation applications, including data centres and the military, the stationery category will experience significant rise in the solid oxide fuel cell market share. Due to favourable regulatory backing, there will also be an increase in installation in residential and commercial sectors, which will add to the expansion. Fuel cells are environmentally friendly since they emit fewer greenhouse gases than the grid and no hazardous nitrogen oxide or sulphur dioxide pollutants, which have been linked to global respiratory disorders and poor air quality. Fuel cells not only address the symptoms of climate change, such as longer, more intense, and more frequent power outages brought on by extreme weather events like the Midwest polar vortex, but also the causes of climate change by reducing pollutants. Fuel cells create power on-site, close to where it is used, which has boosted electrical reliability and energy security. Additionally, fuel cells make excellent building pieces for microgrids. Along with high-tech manufacturing plants, data centres, and retail stores, hospitals and healthcare institutions are expanding quickly.

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