The solid oxide fuel cell is an electrochemical
device which is helpful in generating electricity by oxidizing fuels with the
electrochemical conversion. This process of generating power is highly
effective due to the low noise levels and vibration free operation. Moreover,
the solid oxide fuel technology is capable of producing energy from various
sources such as natural gas, diesel and propane. Furthermore, it has a ceramic
electrolyte and solid oxide. Solid oxide fuel cells have a huge variety of
applications, from use as auxiliary power units in vehicles to stationary power
generation with effective output. Moreover, on the basis of type the solid
oxide fuel is segmented into planar and tubular. By mobility, it has been split
into stationary and potable whereas, on the basis of application it is also
divided into power generation, combined heat & power and military. Hence,
with the wide classification and applications of this, the demand will grow
faster and lead the market growth more effectively in the coming years.
According to the report analysis, ‘Global Solid
Oxide Fuel Cell Market Research Report – Forecast Till 2023’states that some of the major companies
which are currently functioning in this sector more actively for defeating the
requirement of the potential consumer includesFuel Cell Energy, Bloom Energy,
Ceres Power Holdings plc., Ceramic Fuel Cells Ltd., Delphi Technologies, Atrex
Energy, Inc., Convion Fuel Cell Systems Ltd., Elcogen SA, WATT Fuel Cell
Corporation, Protonex, Redox power Systems LLCand several others. The key
players are playing significant role by adopting the effective strategies and
policies for attaining the highest amount of share. Moreover, the research and
development activities are done by the key players for gaining effective
opportunities and providing the developed product at a reasonable price. The
power generation segment held the largest market in 2017 and is projected to
dominate the market in the forecasted period.
Geographically,
with the extensive usage of this product market is spread across the globe
which majorly includes North America, Europe, Asia Pacific region and rest of
the world. Whereas, the North America and Asia Pacific region doing research
and development programs which will drive the growth of the market in the
forecasted period. Moreover, SOFCs can be used in a large number of
applications, which majorly includes power generation for data centers,
household in Japan and Army bases in US. The production of energy is the main
cause for the rise in emissions, and with growing global demand for low
emission systems, SOFC market is projected to increase significantly in the
forecasted period.
On the
basis of end-use application the market is segmented as commercial &
residential, data centers, retail and auxiliary power unit. Whereas, the data
centers accounted the huge market share in the near future because of the
increased usage of cloud computing in market which involves food and beverages,
production, gas and oil, retail and IT. Therefore, in the coming years it is
expected that the market will grow more significantly across the globe with the
effective working and adoption of efficient policies and strategies over the
decades.
To know more, click on the link below:-
Contact
Us:-
Ken Research
Ankur Gupta, Head Marketing &
Communications
+91-9015378249
