Solid Oxide Fuel Cell Market Size, Share, Growth Prospects, Key Opportunities, Trends and Forecasts to 2023
Market Highlights Solid oxide fuel cells (SOFCs) are electrochemical conversion devices, which produce electricity from oxidation for fuels. Increasing demand of highly efficient fuel cells for commercial applications like stationary, portable, military, or transportation, with high flexibility of fuels to be used are fuelling the growth of SOFC market. Researchers are working on producing low temperature SOFCs, as they reduce overall system cost by reducing insulation, materials, startup, and degradation related costs. SOFCs electrochemically generate electricity at higher efficiencies, and have greater potential as compared to any other type of fuel cell technology. Stationary SOFCs are expected to dominate the Global SOFC Market by application, due to increased deployment of SOFC as a primary and backup power generator for electronic devices such as installations in residential and commercial sectors for combined heat and power generation. The Global Solid Oxide Fuel Cell Market is projected to grow at a CAGR of around 8% during the forecast period. Global Solid Oxide Fuel Cell Market The global solid oxide fuel cell market is driven by factors such as high electrical efficiency, suitability for variety of application, fuel flexibility, and low emissions. SOFC market on the basis of application is categorized into stationary, portable, transportation, and military. Rapid industrialization, urbanization, and fast economic growth in clean energy generation in countries such as South Korea and China, will drive the market for Solid Oxide Fuel Cells. Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/4281 Key Players The key players of the global Solid Oxide Fuel Cell market are FuelCell Energy (U.S.), Bloom Energy (U.S.), Aisin Seiki Co. Ltd. (Japan), Ceres Power Holdings Plc. (U.K.), Kyocera (Japan), Ceramic Fuel Cell Ltd. (Australia), Delphi (U.K.) Others