Global Non-Volatile Memory Market Research Report: Forecast to 2023
Global Solid Oxide Fuel Cell Market Research Report: Forecast to 2023
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Copyright Š 2017 Market Research Future.
Global Non-Volatile Memory Market Research Report: Forecast to 2023
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Copyright © 2017 Market Research Future.
Global Non-Volatile Memory Market Research Report: Forecast to 2023
Summary Market Research Future (MRFR)’s latest report reveals that the global solid oxide fuel cell market will grow phenomenally at 12.87% CAGR during the forecast period (2017-2023). There has been a growing requirement for zero emission energy devices coupled with alternative sources of energy, which helps shape the market size positively. Moreover, a growing number of companies globally are conducting research and development activities to enhance the class of solid oxide fuel cells, increasing its efficiency, stability, and flexibility. On account of these benefits, their demand has snowballed globally. Features of low emissions and reasonable costs will impact the overall market. Moreover, solid oxide fuels have become a crucial part of auxiliary and mobile units, giving rise to key growth opportunities in the market. On the flip side, soaring operating temperatures may impede solid oxide fuel cells performance, negatively affecting the market development. Despite the restraining factor, the solid oxide fuels market is well on its way to achieve staggering growth. The attributable factor is the latest trend of adopting distributed energy generation which makes use of solid oxide fuel cell to provide uninterrupted and reliable power. They save energy costs and are less likely to be affected by external factors such as temperate weather conditions. Various other factors attributing to the growth of the solid oxide fuel cell market include a burgeoning requirement for zero emission energy devices and alternative sources of energy. Further, an increasing number of companies are investing in research and development activities to enhance solid oxide fuel cells class, to raise its efficiency, stability, as well as, flexibility. A rise in such investments during the forecast period is anticipated to push the global solid oxide fuel cell market to a great extent. Alternatively, rising operating temperatures are likely to affect solid oxide fuel cell performance, hence, posing as a major hindrance in the market growth. However, due to a rise in the adoption of distributed energy generation for the provision of uninterrupted and reliable power, the market is estimated to witness robust growth.
Competitive Landscape The principal players in the global solid oxide fuel market include Atrex Energy (U.S.), Redox Power Systems (U.S.), Delphi (U.K.), Ceramic Fuel Cell Ltd. (Australia), Elcogen (Estonia), Protonex (U.S.), FuelCell Energy (U.S.), WATT Fuel Cell Corporation (U.S.), Bloom Energy (U.S.), Ceres Power Holdings Plc. (U.K.), and Convion Fuel Cell Systems (Finland).
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Copyright Š 2017 Market Research Future.
Global Non-Volatile Memory Market Research Report: Forecast to 2023
Market Segmentation The global solid oxide fuel cell market has been segmented on the basis of mobility, type, application, and end-user. Based on type, the global solid oxide cell market is segmented into planar and tubular. The planar segment is expected to exhibit significant growth, owing to lower power losses and high transformation ability of planar SOFCs as compared to conventional power generation. Further, major applications in stationary power generation, portable device, and defense applications such as unmanned aircraft and underwater vehicles are also projected to promote sizeable market growth. Based on mobility, the market is segmented into stationary and portable. Stationary solid oxide fuel cell segment has a wide scope of applications in residential, main power large combined heat & power (CHP), and uninterrupted power supply. Stationary cells also offer numerous advantages including reliability, power quality, low operating costs, and the production and optimal utilization of direct current. Based on applications, the solid oxide fuel cell market is segmented into power generation, CHP, and military. Among these, the power generation segment is expected to be the frontrunner in the market and is anticipated to garner lucrative growth during the forecast period. The CHP segment is projected to witness promising growth due to favorable government initiatives, lower operating costs, declining prices of natural gas, and growing ecological concerns.
Industry Updates: •
April 2019: Atrex Energy successfully demonstrated its new reforming solid oxide fuel cell power source for DoD use. Atrex’ commercial SOFC generator was operated on desulfurized JP-8 fuel at 1500W and net DC efficiencies of ~ 40% (fuel LHV to electricity).
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Copyright Š 2017 Market Research Future.
Global Non-Volatile Memory Market Research Report: Forecast to 2023
Regional Analysis The solid oxide fuel cell market is geographically segmented into North America, Europe, and Asia Pacific. North America was the frontrunner in the global solid oxide fuel cell market with a 45.5% share in 2017. The U.S. is estimated to contribute significantly to the solid oxide fuel cell market in North America, during the forecast period. Factors driving robust growth to the region include favorable government initiatives, development of large-scale companies, hefty investments in R&D activities, and robust technological advancements. Europe is anticipated to witness promising growth during the forecast period, owing to increasing publicprivate sector relationships and a rise in the price of crude oil. Further, a proliferated demand from endusers like power suppliers, the automobile industry, residential builders, and electronic companies is likely to cause augmentation of the solid oxide fuel cell market in Europe. Asia Pacific is projected to garner substantial growth, owing to a large number of companies focusing on energy-efficient power generation and an increasing shift towards sustainable energy sources. Further, a collaboration between the government and various private companies is likely to fuel market growth in the region. Also, larger economies of scale have prompted numerous commercial and retail vendors to opt for solid oxide fuel cells to power their outlets and offices, hence, burgeoning the market growth.
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Copyright Š 2017 Market Research Future.
Global Non-Volatile Memory Market Research Report: Forecast to 2023
owned company based in Norway that has developed a field-proven portfolio of completion systems and intervention tools.
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Copyright Š 2017 Market Research Future.