Pune, India, July 18, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global solid oxide fuel cell (SOFC) industry is estimated to grow at a decent pace in the coming years and amass revenues by the year 2028.
Moving on, the paper includes information regarding several market categories and important regions, as well as the growth rate and revenue contribution of these segments throughout the forecast period. Finally, the study discusses key participants, focusing on information about their product/service offerings as well as their strategies for bolstering their position in the marketplace.
Surging product installation to address growing awareness about environment by reducing GHG emissions while employing state-of-the-art technology supplied by various firms is the major growth determinant for the market.
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Also, increased demand for reliable and affordable electricity supply, preference for cleaner energy alternatives, and cognizance of climate change consequences like extreme weather changes and surging carbon levels are also boosting the adoption of SOFC units across businesses and communities.
COVID-19 impact:
The COVID-19 outbreak had halted non-essential operations because of the lockdown restrictions announced by the government and non-functioning of numerous end-use sectors with full capacity, which hampered the industry outlook in the recent past.
Market segment overview:
Based on type terrain, the industry is divided into tubular and planner. Among these, the planar segment is slated to grow decently in the coming years, owing to rising demand for clean energy due to concerns about the environmental impact of energy generation from conventional sources such as coal and natural gas.
In terms of application ambit, worldwide solid oxide fuel cell market is branched into stationary, transport, and portable. Out of which, the stationary segment is gaining traction at present owing to widespread application in a variety of sectors for primary and backup power generation, since they are based on combined heat and power (CHP) technology for both heated water and air.
On the basis of end-user spectrum, the marketplace is segregated into commercial & industrial, transportation, military & defense, data centers, and residential. Among these, the data centers segment holds a modest industry share at present, owing to the requirement of constant and dependable electricity which may be achieved with a complete backup power plan that incorporates fuel cells and other power sources.
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Regional scope:
The latest industry trends are studied across North America (U.S., Canada, Mexico, Brazil), Europe (U.K, France, Germany), Asia Pacific (China, South Korea, and Japan).
Competitive landscape:
Speaking of competitive arena, SOLIDpower S.p.A, Elcogen AS, Convion Ltd., WATT Fuel Cell Corporation, Ceres Power Holdings plc, Aisin Corporation, Cummins Inc., FuelCell Energy Inc., Kyocera Corporation, Hitachi Zosen Corporation, Miura Co. Ltd., Bloom Energy Corporation, and Mitsubishi Power Ltd. are the leading players in global solid oxide fuel cell market.
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Global Solid Oxide Fuel Cell (SOFC) Market, by Type (Revenue, USD, 2015-2028)
- Tubular
- Planar
Global Solid Oxide Fuel Cell (SOFC) Market, by Application (Revenue, USD, 2015-2028)
- Stationary
- Transport
- Portable
Global Solid Oxide Fuel Cell (SOFC) Market, by End-User (Revenue, USD, 2015-2028)
- Commercial & Industrial
- Transportation
- Military & Defense
- Data Centers
- Residential
Global Solid Oxide Fuel Cell (SOFC) Market, Geographical Fragmentation (Revenue, USD, 2015-2028)
Americas
- U.S.
- Canada
- Brazil
- Mexico
Europe
- UK
- France
- Germany
Asia Pacific
- China
- South Korea
- Japan
Global Solid Oxide Fuel Cell (SOFC) Market, Company Profiles (Revenue, USD, 2015-2028)
- SOLIDpower S.p.A
- Elcogen AS
- Convion Ltd.
- WATT Fuel Cell Corporation
- Ceres Power Holdings plc
- Aisin Corporation
- Cummins Inc.
- FuelCell Energy Inc.
- Kyocera Corporation
- Hitachi Zosen Corporation
- Miura Co. Ltd.
- Bloom Energy Corporation
- Mitsubishi Power Ltd.
Table of Content:
1. Report Scope and Methodology
1.1 Scope of the Report
1.2 Research Methodology
1.3 Executive Summary
2. Strategic Recommendations
3. Global SOFC Market: Product Overview
4. Global SOFC Market: An Analysis
4.1 Market Size, By Value, 2015-2028
4.2 Global SOFC Market: Growth & Forecast
4.3 Impact of COVID-19 on SOFC Market
5. Global SOFC Market By Type
5.1 Competitive Scenario of Global SOFC Market: By Type (2021 & 2028)
5.2 By Planar - Market Size and Forecast (2015-2028)
5.3 By Tubular - Market Size and Forecast (2015-2028)
6. Global SOFC Market By Application
6.1 Competitive Scenario of Global SOFC Market: Application (2021 & 2028)
6.2 By Portable - Market Size and Forecast (2015-2028)
6.3 By Transport - Market Size and Forecast (2015-2028)
6.4 By Stationery - Market Size and Forecast (2015-2028)
7. Global SOFC Market By End User
7.1 Competitive Scenario of Global SOFC Market: By End User (2021 & 2028)
7.2 By Residential - Market Size and Forecast (2015-2028)
7.3 By Data Centers - Market Size and Forecast (2015-2028)
7.4 By Military & Defense - Market Size and Forecast (2015-2028)
7.5 By Transportation - Market Size and Forecast (2015-2028)
7.6 By Commercial & Industrial - Market Size and Forecast (2015-2028)
8. Global SOFC Market: Regional Analysis
8.1 Competitive Scenario of Global SOFC Market: By Region (2021 & 2028)
9. Americas SOFC Market: An Analysis (2015-2028)
9.1 Americas SOFC Market by value: Size and Forecast (2015-2028)
9.2 Americas SOFC Market: Prominent Companies
9.3 Market Segmentation By Type (Planar, Tubular)
9.4 Market Segmentation By Application (Portable, Transport, Stationary)
9.5 Market Segmentation By End User (Residential, Data Centers, Military & Defense, Transportation, Commercial & Industrial)
10. Europe SOFC Market: An Analysis (2015-2028)
10.1 Europe SOFC Market by value: Size and Forecast (2015-2028)
10.2 Europe SOFC Market: Prominent Companies
10.3 Market Segmentation By Type (Planar, Tubular)
10.4 Market Segmentation By Application (Portable, Transport, Stationary)
10.5 Market Segmentation By End User (Residential, Data Centers, Military & Defense, Transportation, Commercial & Industrial)
11. Asia Pacific SOFC Market: An Analysis (2015-2028)
11.1 Asia Pacific SOFC Market by value: Size and Forecast (2015-2028)
11.2 Asia Pacific SOFC Market: Prominent Companies
11.3 Market Segmentation By Type (Planar, Tubular)
11.4 Market Segmentation By Application (Portable, Transport, Stationary)
11.5 Market Segmentation By End User (Residential, Data Centers, Military & Defense, Transportation, Commercial & Industrial)
12. Middle East and Africa SOFC Market: An Analysis (2015-2028)
12.1 Middle East and Africa SOFC Market by value: Size and Forecast (2015-2028)
12.2 Market Segmentation By Type (Planar, Tubular)
12.3 Market Segmentation By Application (Portable, Transport, Stationary)
12.4 Market Segmentation By End User (Residential, Data Centers, Military & Defense, Transportation, Commercial & Industrial)
13. Global SOFC Market Dynamics
13.1 Global SOFC Market Drivers
13.2 Global SOFC Market Restraints
13.3 Global SOFC Market Trends
14. Market Attractiveness
14.1 Market Attractiveness Chart of Global SOFC Market - By Type (Year 2028)
14.2 Market Attractiveness Chart of Global SOFC Market - By Application (Year 2028)
14.3 Market Attractiveness Chart of Global SOFC Market - By End User (Year 2028)
14.4 Market Attractiveness Chart of Global SOFC Market - By Region (Year 2028)
15. Competitive Landscape
Related Report:
North America Fuel Cell Market Size, Country Analysis, Application Potential, Competitive Market Share & Forecast, 2022 - 2030
North America fuel cell market size is expected to witness consistent gains by 2030. The growth can be reasoned to the rising demand for fuel cell electric vehicles in the region. The introduction to favorable government mandates and policies to curb carbon emissions would further influence the market expansion. According to a study by California Fuel Cell Partnership, the United States has over 7,600 fuel cell electric vehicles running on the road, more than any other country worldwide. Besides, industry analysts estimate that about 1.2 million FCEVs are likely to be sold by 2030 across the nation. Regionally, the North America fuel cell market is diversified into United States and Canada. The United States fuel cell market share is projected to accrue considerable gains through 2030, due to the presence of stringent government targets to reduce carbon emissions in the country. As per the United States Environmental Protection Agency, the nation's greenhouse gas emissions accounted for an overall 5,215.6 million metric tons of CO2 equivalents during 2020. The regional market growth would also be impelled by a higher deployment of energy-efficient technology.
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