Global Solid Oxide Fuel Cell Market (2020 to 2025) - Rising Distributed Power Generation Applications Across Regions Presents Opportunities
Thursday, January 28, 2021
DUBLIN, Jan. 20, 2021 /PRNewswire/ -- The "Solid Oxide Fuel Cell Market by Type (Planar and Tubular), Application (Power Generation, Combined Heat & Power, and Military), End-Use (Data Centers, Commercial & Retail, and APU), Region (North America, Asia Pacific, and Europe) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
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The global solid oxide fuel cell market size is projected to reach USD 2,881 million by 2025 from estimated revenue of USD 772 million in 2020, at a CAGR of 30.1% during the forecast period.
The key drivers for the solid oxide fuel cell market include government subsidies and increased R&D on fuel cell programs; fuel flexibility and increasing demand for energy-efficient power generation and stringent emission norms in Europe & North America leading to demand for clean energy sources.
The planar segment is expected to dominate the solid oxide fuel cell market.
The planar segment is expected to be the largest market, by type, during the forecast period. The growth is evident owing to the simple geometry and relatively easier construction process. Planar type of solid oxide fuel cells is typically designed in such a way that the ceramic fuel cell modules are arranged one above the other in a sandwich-type design with the electrolyte inserted between the electrodes
The stationary segment is expected to dominate the solid oxide fuel cell market.
The stationary segment of the market, by application, is estimated to be the largest during the forecast period. The growth of the stationary segment is driven by the increasing focus on hydrogen-powered fuel cells for back-up power.
The market for the stationary segment in the Asia Pacific is expected to grow at the highest CAGR during the forecast period due to the fact that the governments of South Korea, China, and Japan are highly focusing on utilizing renewable energy and hence opting for utility-scale SOFC power plant.
North America to lead the global solid oxide fuel cell market in terms of value.
North America is the largest solid oxide fuel cell, followed by the Asia Pacific and Europe. The region has been segmented, by country, into US and Canada. US is the largest and fastest growing market in the region. The growth in this country can be attributed to the high demand for fuel cell power generation, as well as increasing research and development for hydrogen generation. In addition, government policies and subsidies, including the Department of Energy's (DoE's) Solid State Energy Conversion Alliance (SECA) Program, are the prime driving factors for growth in the US market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Solid Oxide Fuel Cell Market
4.2 Solid Oxide Fuel Cell Market, by Country
4.3 Solid Oxide Fuel Cell Market, by Type
4.4 Solid Oxide Fuel Cell Market, by Application
4.5 Solid Oxide Fuel Cell Market, by End-user
5 Market Overview
5.1 Introduction
5.2 COVID-19 Health Assessment
5.3 Road to Recovery
5.4 COVID-19 Economic Assessment
5.5 Market Dynamics
5.5.1 Drivers
5.5.1.1 Government Subsidies and Increased R&D on Fuel Cell Programs
5.5.1.2 Fuel Flexibility and Increasing Demand for Energy-Efficient Power Generation
5.5.1.3 Stringent Emission Norms in Europe & North America Leading to Demand for Clean Energy Sources
5.5.2 Restraints
5.5.2.1 High Fuel Cell Installation and Manufacturing Costs
5.5.2.2 Development of Other Types of Fuel Cells
5.5.3 Opportunities
5.5.3.1 Rising Distributed Power Generation Applications Across Regions
5.5.3.2 Increasing Adoption by End-users in Data Centers and Military Sector
5.5.4 Challenges
5.5.4.1 High Operating Temperatures and Start-Up Time of Sofcs
5.5.4.2 Rise in Investments in Battery & Renewable Technology Integration
5.5.4.3 Market Fluctuations due to COVID-19
5.6 Technological Analysis
5.6.1 Solid Oxide Electrolyzer Cell (Soec):
5.6.1.1 Development of Hybrid-Sofc Technologies
5.7 Case Study Analysis
5.7.1 Ikea Uses Fuel Cell for On-Site Power
5.7.1.1 Problem Statement
5.7.1.2 Solution
5.7.2 Samsung Heavy Industries Plans for Clean Power Ships Under Joint Development Agreement with Bloom Energy
5.7.2.1 Problem Statement
5.7.2.2 Solution
5.8 Value Chain Analysis
5.8.1 Component Manufacturers
5.8.2 Assemblers/Manufacturers
5.8.3 Distributors (Buyers)/End-users
5.9 Innovations & Patent Registration
5.10 Yc-Shift
5.10.1 Revenue Shift & New Revenue Pockets for Sofc Manufacturers
5.11 Market Map
5.12 Regulatory Landscape
5.12.1 Regulatory Framework in North America
5.12.2 Regulatory Framework in Europe
5.12.3 Regulatory Framework in Asia-Pacific
5.13 Average Pricing of Solid Oxide Fuel Cell
5.14 Porter's Five Forces Analysis
5.14.1 Threat of Substitutes
5.14.2 Bargaining Power of Suppliers
5.14.3 Bargaining Power of Buyers
5.14.4 Threat of New Entrants
5.14.5 Intensity of Competitive Rivalry
6 Scenario Analysis
6.1 Introduction
6.1.1 Optimistic Scenario
6.1.2 Realistic Scenario
6.1.3 Pessimistic Scenario
7 Solid Oxide Fuel Cell Market, by Type
7.1 Introduction
7.2 Planar
7.2.1 Use of Simple Geometry and Relatively Easier Construction Process are Propelling Growth of Planar Sofc Segment
7.3 Tubular
7.3.1 Increasing Research and Development Related to High-Efficiency Sofcs to Drive Market Growth
8 Solid Oxide Fuel Cell Market, by Application
8.1 Introduction
8.2 Portable
8.2.1 Growing Need for Electricity to Power Equipment in Defence Industry and for Recreational Activities to Drive Growth of Portable Segment
8.3 Stationary
8.3.1 Increasing Focus on Hydrogen-Powered Fuel Cells for Back-Up Power to Drive Market Growth for Stationary Fuel Cells
8.4 Transport
8.4.1 Increasing Focus on Developing Sofcs for Operating Heavy-Duty Vehicles to Drive Market Growth
9 Solid Oxide Fuel Cell Market, by End-user
9.1 Introduction
9.2 Power Generation
9.2.1 Increased Demand for Clean Energy Generation to Drive Growth of Power Generation Segment
9.3 Automotive
9.3.1 Need for Decreasing Vehicular Carbon Emission to Drive Growth of Automotive Segment
9.4 Hydrogen Generation
9.4.1 Increased Demand for Hydrogen in Several Regions to Boost Growth of Sofc Market for Hydrogen Generation
9.5 Others
10 Solid Oxide Fuel Cell Market, by Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia-Pacific
11 Competitive Landscape
11.1 Introduction
11.2 Key Company Focus Areas
11.2.1 Growth Strategies in Solid Oxide Fuel Cell Market
11.3 Competitive Leadership Mapping (Overall Market)
11.3.1 Star
11.3.2 Emerging Leader
11.3.3 Pervasive
11.3.4 Other Players
11.4 Competitive Leadership Mapping of Start-Ups
11.4.1 Progressive Companies
11.4.2 Responsive Companies
11.4.3 Starting Blocks
11.4.4 Dynamic Companies
11.5 Ranking of Players, 2019
11.6 Revenue Analysis of Top 5 Players
11.7 Solid Oxide Fuel Cell Revenue Analysis of Top 5 Market Players
11.8 Competitive Scenario
11.8.1 Contracts & Agreements
11.8.2 New Product Launches
11.8.3 Investments & Expansion
11.8.4 Mergers & Acquisitions
11.8.5 Partnerships & Collaborations
12 Company Profile
12.1 Aisin Seiki
12.2 Bloom Energy
12.3 Ceres Power
12.4 Hitachi Zosen
12.5 Mitsubishi Power
12.6 Convion Fuel Cells
12.7 Kyocera
12.8 Elcogen
12.9 Solidpower
12.10 Sunfire
12.11 Ztek Corporation
12.12 H2E Power
12.13 Watt Fuel Cell
12.14 Special Power Sources
12.15 Upstart Power
12.16 Fuelcell Energy
12.17 Doosan Fuel Cell
12.18 Cummins
12.19 Posco Energy
12.20 Bosch Engineering
12.21 Cmr Prototech
12.22 Avl
12.23 Adaptive Energy
12.24 Catator
12.25 Adelan
13 Appendix
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: The Subscription Portal
13.4 Available Customizations
For more information about this report visit https://www.researchandmarkets.com/r/fh5v47
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