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Global Solid Oxide Fuel Cell Market (SOFC)

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Global Solid Oxide Fuel Cell Market (SOFC) was valued US$ 403.34 Mn in 2017 and is expected to reach US$ 1443.43 Mn by 2026, at a CAGR of 15.04% during a forecast period.

The global solid oxide fuel cell (SOFC) market based on type, application, and region. In terms of type, the global solid oxide fuel cell (SOFC) market is classified into tubular and planar. Based on application, the global solid oxide fuel cell (SOFC) market is categorized into Stationary, Transportation, and Portable. Region wise into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Increasing demand for energy efficient power generation, rising private-public partnerships, biomass utilization and variety of fuels are driving factor of that market. Furthermore, solid oxide fuel cells are poised to be widely utilized for auxiliary and mobile power, thus providing a key growth opportunity in the market. Moreover, integration technologies are providing growth opportunities for the market. However, soaring operating temperatures may impede the performance of solid oxide fuel cells, thus negatively impacting the development of this market. The soaring costs of catalysts and commercialization and the rising complexity in the establishment of the infrastructure of solid oxide fuel cells will also restrain the growth of the market. However, risks associated with investment in hydrogen refueling stations and high capital costs are hampering the market growth.

Global Solid Oxide Fuel Cell Market (SOFC)

In terms of application, the stationary segment is expected to grow at a considerable market share due to the growing adoption of fuel cells in automobiles, marine, and trucks. In the U.S., stationary SOFCs are widely used in data centers and as a power source for numerous other commercial purposes. Stationary solid oxide fuel cells are also finding a potential market in military applications.

on the type, the planar segment held the largest market share in the solid oxide fuel cell market. The growth of the planar segment is mainly attributed to the applications of the planar SOFC type in the power generation segment and transportation APU end-use.

North America is expected to lead the global market and will continue to lead the SOFC market throughout the forecasted period. The contribution of the solid oxide fuel cell in the Asia Pacific is majorly owing to its broad application in the stationary segment.

Some of the key players in the global solid oxide fuel cell (SOFC) market are Adaptive Materials, Inc., Altair Nanotechnologies Inc., The Babcock & Wilcox Co., SOFCpower, Chevron Technology, Delphi Automotive LLP, Protonex, NexTech Materials, Sunfire GmbH, Rolls-Royce plc., DDI Energy Inc., KERAFOL Keramische Folien GmbH, and Point Source Power, Inc. among others.
Scope of the Global Solid Oxide Fuel Cell Market (SOFC)

Global Solid Oxide Fuel Cell Market (SOFC) by Type

• Planar
• Tubular
Global Solid Oxide Fuel Cell Market (SOFC) by Application

• Stationary
• Transportation
• Portable
Global Solid Oxide Fuel Cell Market (SOFC) by Geography

• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
Key Players operating in Global Solid Oxide Fuel Cell Market (SOFC)

• Adaptive Materials, Inc.
• Altair Nanotechnologies Inc.
• The Babcock & Wilcox Co.
• SOFCpower
• Chevron Technology
• Delphi Automotive LLP
• Protonex
• NexTech Materials
• Sunfire GmbH
• Rolls-Royce plc.
• DDI Energy Inc.
• KERAFOL Keramische Folien GmbH
• Point Source Power, Inc.

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