Press release
Global Solid Oxide Fuel Cell Market Size To Grow At A CAGR Of 26.90% In The Forecast Period Of 2023-2028
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
Solid Oxide Fuel Cell Market Size, Share, Price, Trends, Growth, Key Players, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 1.37 billion
• Forecast CAGR (2023-2028): 26.90%
• Forecast Market Size (2028): USD 5.71 billion
The rapid transition from using conventional methods of electricity generation towards solid oxide fuel cell-based energy generation is driving the global solid oxide fuel cell market. This can be attributed to the greater efficiency, long-term stability, flexibility of fuel usage, and lower costs, offered by this device. In addition, solid oxide fuel cells generate lower emissions which is another crucial driving factor of the market.
Get a Free Sample Report with Table of Contents - https://www.expertmarketresearch.com/reports/solid-oxide-fuel-cell-market/requestsample
Over the forecast period, the stringent regulations by various governments aimed towards reducing greenhouse emissions are expected to favour the market growth for solid oxide fuel cells. The waste heat which gets generated during the process of energy production can be utilised in heating and power systems across various end use sectors. This is another key driving factor of the market for solid oxide fuel cells.
The rising applications of solid oxide fuel cells in the residential sector is propelling the market numbers. In the coming years, rising population, increasing standards of living, and growing investments towards developing high-end residential infrastructure are expected to improve the market dynamics. Furthermore, the rising applications of solid oxide fuel cells in data centres, because of the efficient utilisation of natural gas for power generation, is further bolstering the solid oxide fuel cell market growth.
Solid Oxide Fuel Cell Industry Definition and Major Segments
Solid oxide fuel cell refers to a type of multilayer electrochemical energy generating system which is used to produce electricity. This device generates electricity by utilising the energy produced during the reaction of oxygen and hydrogen. In other words, this device produces electricity by the fuel oxidisation process.
Read Full Report with Table of Contents - https://www.expertmarketresearch.com/reports/solid-oxide-fuel-cell-market
Based on type, the market is bifurcated into:
• Planar
• Tubular
By application, the market is segmented into:
• Portable
• Stationary
• Transport
On the basis of end user, the market is divided into:
• Residential
• Commercial and Industrial
• Data Centres
• Military and Defence
Based on region, the market is categorised into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Solid Oxide Fuel Cell Market Trends
The key trends in the global solid oxide fuel cell market include the rapid growth of the commercial and industrial sector across emerging economies, leading to a heightened demand for solid oxide fuel cells in hospitals, academic institutions, hotels, and restaurants, among others. Technical innovations and growing research and development activities in the military and defence sector across the emerging economies are the crucial trends in the market. Heavy military equipment and vehicles require efficient, reliable, and long-lasting fuel systems, making solid oxide fuel cells ideal to carry out defence-related operations.
The rising investments towards developing power plants are key trends in the solid oxide fuel cell market. Over the forecast period, the anticipated increase in demand for energy across the emerging economies, supported by rapid digitalisation, is expected to garner the market growth.
In terms of region, North America holds a significant share in the market. The stringent regulations of governments in the region aimed towards reducing carbon footprint while conserving electricity are propelling the regional market for solid oxide fuel cells. Further, high military expenditure across countries like the United States are increasing the demand for solid oxide fuel cells.
Key Market Players
The major players in the global solid oxide fuel cell market report are:
• Bloom Energy Corporation
• Mitsubishi Heavy Industries, Ltd.
• Ceres Power Holdings plc
• FuelCell Energy, Inc.
• AVL List GmbH
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
Related Reports:
Electric Truck Market: https://www.expertmarketresearch.com/reports/electric-truck-market
Cloud Kitchen Market: https://www.expertmarketresearch.com/reports/cloud-kitchen-market
Biodegradable Plastic Market: https://www.expertmarketresearch.com/reports/biodegradable-plastic-market
Portable Air Purifier Market: https://www.expertmarketresearch.com/reports/portable-air-purifier-market
Oat Milk Market: https://www.expertmarketresearch.com/reports/oat-milk-market
Fishing Equipment Market: https://www.expertmarketresearch.com/reports/fishing-equipment-market
Green Power Market: https://www.expertmarketresearch.com/reports/green-power-market
Blood Bank Market: https://www.expertmarketresearch.com/reports/blood-bank-market
Fantasy Sports Market: https://www.expertmarketresearch.com/reports/fantasy-sports-market
Carbon Felt and Graphite Felt Market: https://www.expertmarketresearch.com/reports/carbon-felt-and-graphite-felt-market
Media Contact:
Company Name: Claight Corporation
Contact Person: Anisha Luccas, Business Consultant
Email: sales@expertmarketresearch.com
Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: https://www.expertmarketresearch.com
LinkedIn: https://www.linkedin.com/company/expert-market-research
About Us:
Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.
EMR customises syndicated reports according to clients' requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.
Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Solid Oxide Fuel Cell Market Size To Grow At A CAGR Of 26.90% In The Forecast Period Of 2023-2028 here
News-ID: 3039959 • Views: …
More Releases from Expert Market Research
Bed and Bath Linen Market Trends, Growth & Forecast 2025-2034
The global bed and bath linen market is witnessing strong growth due to increasing consumer focus on home décor, comfort, and luxury. Rising disposable incomes, urbanization, and the booming hospitality sector are further boosting demand for premium-quality bed sheets, pillowcases, towels, and bathrobes. Technological innovations in fabrics, such as antimicrobial, wrinkle-resistant, and sustainable textiles, are shaping consumer preferences. In addition, the expansion of online distribution channels has made luxury and…
Global Fruit Juice Market Size, Report and Forecast 2025-2034
The latest report from Expert Market Research titled, "Global Fruit Juice Market Size, Report and Forecast 2025-2034," offers a comprehensive analysis of the global fruit juice market, examining it across various segments such as types, flavours, distribution channels, and key regions.
The report identifies and tracks the latest trends shaping the industry and evaluates their impact on the overall market dynamics. It also provides a thorough assessment of the market, covering…
Global Fluorspar Market Forecast 2025-2034: Growth, Trends, and Key Insights
According to the latest report by Expert Market Research (EMR), the global Fluorspar Market Size is projected to grow at a CAGR of 5.60% between 2025 and 2034. The market is expected to experience significant growth by 2034, driven by the increasing demand for fluorspar across industries such as manufacturing, chemicals, and metallurgy.
Fluorspar, also known as fluorite, is a key industrial mineral composed of calcium fluoride (CaF2). It is crucial…
Why will smart pulse oximeters market hit $3.50Bn by 2034?
smart pulse oximeters market Overview
The smart pulse oximeters market has become a pivotal part of modern healthcare infrastructure, especially in the wake of increasing cardiovascular and respiratory ailments. These technologically enhanced devices measure blood oxygen saturation and pulse rate, often offering wireless connectivity to mobile apps for better health tracking. Their growing application in hospitals, ambulatory settings, and home healthcare environments reflects the market's evolving dynamics. Key drivers include the…
More Releases for Market:
Sorbitol Market Forecast, Sorbitol Market Analysis, Sorbitol Market Growth, Sorb …
The Sorbitol Market has been fragmented based on the productivity of several companies; therefore, each segment and its sub-segments are analyzed in the research report. Furthermore, the report offers 360 views on historical and upcoming growth based on volume, value, production, and consumption. Moreover, it classifies depend on sub-segments, key segments as per the significant regions and offers an in-depth analysis on the competitive edge of the market. This report…
Esterquats Market, Esterquats Market Size, Esterquats Market Share, Esterquats M …
The "Esterquats Market" is a dynamic and rapidly evolving sector, with significant advancements and growth anticipated by 2031. Comprehensive market research reveals a detailed analysis of market size, share, and trends, providing valuable insights into its expansion.
This report delves into segmentation and definition, offering a clear understanding of market components and drivers. Employing SWOT and PESTEL analyses, the study evaluates the market's strengths, weaknesses, opportunities, and threats, alongside political,…
Syringe and Needle Market Size, Market Share, Market Trends, Market Analysis, Ma …
Market Overview:
The global syringe and needle market is a critical component of the healthcare industry, serving as indispensable tools for administering medications, vaccines, and drawing blood samples. This market is characterized by a diverse range of products catering to various medical needs, including disposable syringes, safety syringes, insulin syringes, hypodermic needles, and more. This article provides an in-depth analysis of the syringe and needle market, focusing on its market overview,…
India Tractor Market, Tractor Industry, Market Revenue, Market Growth Analysis, …
How Is India Tractor Market Positioned?
In India two-third population is engaged in Agriculture. Tractors form an essential part of this sector. They bring the required efficiency and productivity country needs in its agricultural activity to compete on the international level. The Indian tractor Industry has made preponderant improvement in production capacity and in terms of production volumes. The industry has been successful in indigenization of the technology. The volume growth…
Global Optical Interconnects Market, Market Size, Market Shares, Market Growth A …
In integrated circuits, optical interconnects majorly refers to a system of transmitting signals from one fragment of an integrated circuit to another part which is using light. Optical interconnects have been in high demand due to the high latency and power consumption incurred by conventional metal interconnects in conveying electrical signals over long distances, such as in interconnects classed as global interconnects.
The International Technology Roadmap for Semiconductors (ITRS) has emphasized…
Global Cash Registers Market, Market Growth Analysis, Market Revenue, Market Out …
A cash register or automatic money handling system is a motorized or electric device for registration and calculating dealings at a point of sale. It is typically devoted to a drawer for storage cash and additional valuables. A modern cash register is generally attached to a printer which can print out incomes for record-keeping determinations. The electronics cash register delivers numerous features likes mall price and informal admittance. The rising acceptance of electronic cash register by…
