Dublin, Aug. 16, 2021 (GLOBE NEWSWIRE) -- The "Solid Oxide Fuel Cells (SOFCs) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Solid Oxide Fuel Cells (SOFCs) Market to Reach $3.4 Billion by 2027
Amid the COVID-19 crisis, the global market for Solid Oxide Fuel Cells (SOFCs) estimated at US$837.3 Million in the year 2020, is projected to reach a revised size of US$3.4 Billion by 2027, growing at a CAGR of 22% over the analysis period 2020-2027.
Remote Power & Auxiliary Power Units (APUs), one of the segments analyzed in the report, is projected to record a 21.7% CAGR and reach US$1.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Combined Heat & Power (CHP) segment is readjusted to a revised 18.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $250.1 Million, While China is Forecast to Grow at 21.6% CAGR
The Solid Oxide Fuel Cells (SOFCs) market in the U.S. is estimated at US$250.1 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$589.6 Million by the year 2027 trailing a CAGR of 21.6% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 19.6% and 18.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 15.4% CAGR.
Other Applications Segment to Record 25.3% CAGR
In the global Other Applications segment, USA, Canada, Japan, China and Europe will drive the 25.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$210.5 Million in the year 2020 will reach a projected size of US$1 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$396.6 Million by the year 2027.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Fuel Cells - A Rudimentary Overview
- Recent Market Activity
- Solid Oxide Fuel Cells - A Curtain Raiser
- Current and Future Analysis
- Collaborative Effort - Key to Successful Commercialization
- Present Levels of Commercialization
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS (Total 35 Featured):
- Adelan Ltd.
- Atrex Energy Inc.
- Bloom Energy Corporation
- Ceramic Fuel Cells Limited
- Ceres Power Limited
- Convion Ltd.
- Elcogen AS
- FuelCell Energy, Inc.
- Hexis AG
- SOLIDpower S.p.A.
- Sunfire GmbH
- Ultra Electronics Holdings Plc
3. MARKET TRENDS & DRIVERS
- SOFCs Takes on Competition from Market Leader PEMFC Head-On
- Growing Focus on Environmental Protection to Drive Adoption of SOFCs in Power & Transportation Sector
- Growing Demand for Electricity Driving Demand for SOFCs in Power Sector
- SOFCs Gather Momentum in Stationary Cogeneration/CHP Deployments
- SOFCs: Ideal for Distributed Power Generation
- Growing Focus on Renewable Energy to Add to Market Demand for SOFCs
- Positive Outlook for Fuel Cell Integrated Residential CHPs
- Efforts in Full Swing to Make SOFC a Mainstream Technology for APU in Automobiles
- Factors Indicating Potential Opportunity for SOFCs in Heavy-Duty Trucks and Refrigerated Transport Vehicles
- Opportunities in Military & Defense Sector
- SOFCs Make Perfect Sense for Mobile Networks
- The Role of the Government in Driving the Market's Future
- Favorable Government Policies Remain Critical to Success
- Investments Pour In, Promising to Expand the Industry's Scope
- Planar SOFC Remains the Dominant SOFC Technology in the Market
- SOFCs: A Technology of Interest to Developed Countries
- Japan - A Unique Case of Environment Driven and Energy Driven Market
- Developing Nations Set to Follow Developed Markets in Adoption of SOFCs
- China on the Verge of a Fuel Cell Boom
- Technological Developments Widen Scope of Applications for SOFCs
- Technological Innovations Promise to Revolutionize SOFC Manufacturing
- Nano Coatings Emerge as Means to Enhance Durability of SOFC
- SOFC Demand Not Disruptive to Supplies of Rare Earth Elements
- Conventional Power Companies Vie for the SOFC Pie
4. GLOBAL MARKET PERSPECTIVE
- World Current & Future Analysis for Solid Oxide Fuel Cells (SOFCs) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
- World Historic Review for Solid Oxide Fuel Cells (SOFCs) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR
- World 15-Year Perspective for Solid Oxide Fuel Cells (SOFCs) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2012, 2020 & 2027
- World 15-Year Perspective for Remote Power & Auxiliary Power Units (APUs) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
- World 15-Year Perspective for Combined Heat & Power (CHP) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
- World 15-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027
III. MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 35
For more information about this report visit https://www.researchandmarkets.com/r/ktzhcn
