San Francisco, 11
April , Solid
Oxide Fuel Cell (SOFC) Market Analysis By Application (Stationary,
Transportation, Portable), By Region (North America, Europe, Asia Pacific, MEA,
CSA), And Segment Forecasts, 2018 - 2025
The global solid oxide fuel cell market is expected to reach USD
1.42 billion by 2025, growing at a CAGR of 30%, according to a report by Grand
View Research, Inc. Government funding is largely being replaced by corporate
funding and in turn exhibited to display positive growth potential. There has
been an increase of more than 44% of corporate funding from the period 2013
until 2016 hence displaying feasible commercialization prospect for the
technology.
The rising pressure among
nations to reduce carbon emissions while strengthening energy security is
another factor favoring the growth of the solid oxide fuel cell market. Due to
its working characteristic, solid oxide fuel cell has an efficiency in the
range of 50-60%. However, there are concerns among solid oxide fuel cell
manufacturers to reduce the production cost to generate significant profit
margin.
The soaring capital &
operational costs and underutilization of various facilities for the
development of solid oxide fuel cell electric vehicle market are likely to
result in high investment risks. High capital costs are directly related to the
compression and storage of hydrogen. Therefore, highly pressurized hydrogen
storage requires costly compressors. This is likely to pose a threat to market
participants.
The Asia Pacific region is
expected to benefit due to favorable governmental regulations in countries such
as Japan and South Korea. Fuel cell powered automobiles and residential
projects receive government subsidies in the region. Big players in North
America such as Walmart, Coca-Cola, Equinix, Apple, CenturyLink, AT&T,
Verizon are actively investing in solid oxide fuel cell technology to reduce emissions
and generate power for company operations.
Access Full Research
Report On Solid Oxide Fuel Cell (SOFC) Market Analysis:
Further key findings from the report suggest:
·
The global solid oxide fuel
cell market demand is expected to exceed 1,773.3 MW by 2025, at a predicted
CAGR of 40.4% from 2017 to 2025
·
The transportation application
is expected to witness growth rate in terms of units sold whereas stationary
applications is expected to have the highest growth rate in terms of revenue
·
Asia Pacific was the largest
consumer of solid oxide fuel cell in 2016, in terms of units, closely followed
by North America
·
The consumption of solid oxide
fuel cell in Europe is expected to reach 112.6 MW by the end of 2025 due to the
restructuring of infrastructure in Germany and France
·
Japan accounted for over 30% of
the global solid oxide fuel cell demand in 2016 and is expected to maintain
dominance over the forecast period
Browse More Reports Of This Category By
Grand View Research At: https://www.grandviewresearch.com/industry/renewable-energy
Grand View Research has segmented the
global solid oxide fuel cell market on the basis of application and region:
Application Outlook (Volume,
Units; Capacity, Kw; Revenue, USD Thousand; 2014 - 2025)
·
Stationary
o
Distributed Energy Generation
o Residential Application
o Commercial Application
o Natural Gas Compression Station
o Data Centers
o Military & Defense Application
o Grid Support
o Industrial
o Remote Application
o Others
o
EPS/UPS
·
Transportation
·
Portable
Regional Outlook (Volume,
Units; Capacity, Kw; Revenue, USD Thousand; 2014 - 2025)
·
North America
o
U.S.
·
Europe
o
Germany
o
UK
o
France
·
Asia Pacific
o
China
o
South Korea
o
Taiwan
o
Japan
·
Central & South America
·
Middle East & Africa
Access Full Press Release of this Report: https://www.grandviewresearch.com/press-release/global-solid-oxide-fuel-cells-sofc-market
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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