2017-2022 Solid Oxide Fuel Cell (SOFC) Market Status and Forecast, by Players, Types, and Applications

A fuel cell is a device that produces electricity by a chemical reaction. Each fuel cell has two electrodes, one negative (anode) and one positive (cathode). The reactions that produce electricity take place at the electrodes. Fuel cells are characterized by their electrolyte material; the SOFC has a ceramic or solid oxide electrolyte. Advantages of this category of fuel cells comprise long-term stability, high efficiency, low emissions, fuel flexibility, and relatively less cost. But the largest disadvantage is the high working temperature that results in larger start-up period and chemical mechanical and characteristic issues.

A solid oxide fuel cell (SOFC) is electro-chemical conversion devices that generate electricity directly by oxidizing a fuel. Solid oxide fuel cells are a type of fuel cells classified by the employing of a solid oxide material as the electrolyte. Solid oxide fuel cells use a solid oxide electrolyte to carry negative oxygen ions to the anode from the cathode. Thus, electrochemical oxidation of the oxygen ions with carbon monoxide or hydrogen takes place on the anode side. SOFC generates electricity by electrochemical conversions where fuels like biogas, natural gas, propane hydrogen or other hydrocarbons are directly oxidized.

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The global solid oxide fuel cell (SOFC) market is predicted to experience steady growth over the forecast period of 2017 to 2022 with significant compound annual growth rate. Globally, solid oxide fuel cells (SOFC) demand is expected to rise on account of increasing need for zero emission energy devices and alternative energy sources. Strict government regulations concerning carbon emissions such as U.S. Environmental Protection Agency (EPA) has implemented Carbon Pollution Standards; are expected to boost solid oxide fuel cell (SOFC) demand.

Easy function and movability of SOFC devices have contributed to increasing application in military and transportation. Superior energy efficiency and long-term steadiness are factors likely to expand the global SOFC market during the forecast years. Furthermore, the only by-product of SOFC is water, contributing largely to clean energy initiatives and creating zero emission, these advantages driving the market growth worldwide. However, elevated operating temperatures may hamper the performance of solid oxide fuel cells and the growing complexity in establishing the infrastructure of solid oxide fuel cells might hinder the growth of global solid oxide fuel cell (SOFC) market.

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The key market players in the global solid oxide fuel cell (SOFC) market are Hexis AG, Adelan Ltd, Ceres Power Limited, Versa Power Systems, Inc., Atrex Energy, Inc., Delphi Automotive Systems, LLC, Bloom Energy Corporation, FuelCell Energy, Inc., Convion Ltd and Elcogen. According to product types, the global market is split into; Thin Film, Planar, Tubular and Other
Technologies.

On the application basis the market is classified as; Remote power and Auxiliary Power Units (APUs), Combined Heat and Power (CHP), Stationary, Exotic, Portable product power, Transportation, Aircraft, Generators, and Others. Geographical segmentation of the global solid oxide fuel cell (SOFC) market is given into regions which are; Europe, North America, Middle-East, Southeast Asia and Asia-Pacific.

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