Global Solid Oxide Fuel Cell (SOFC) Market Growth 2023-2029

Global Solid Oxide Fuel Cell (SOFC) Market Growth 2023-2029

Solid oxide fuel cells are emission free power sources, which run on electrochemical conversion reactions. SOFC use ceramic electrolytes that are hard and non-porous in nature. As the electrolyte is a solid, the cells are not necessarily constructed in a plate-like configuration as seen in other fuel cell types. Electrical efficiency provided is around 50% to 60%. In applications designed to capture and utilize the system's waste heat (cogeneration), the overall fuel use efficiency could top 80% to 85% and operate at very high temperatures of around 1,000°C (1,830°F). The unique properties of solid oxide fuel cell such as portability, long-term stability, easy fuel selection, and emission-free power serve this requirement. These cells have vast applications, with military applications expecting the highest growth. Planar SOFC has been identified to be the dominating fuel cell in the market for its versatility. This report studies the Solid Oxide Fuel Cell (SOFC) market, from angles of players, regions, product types and end industries, to analyze the status and the future. The scope of this report is mainly for commercial companies, excluding products from government departments and research institutions.
LPI (LP Information)' newest research report, the “Solid Oxide Fuel Cell (SOFC) Industry Forecast” looks at past sales and reviews total world Solid Oxide Fuel Cell (SOFC) sales in 2022, providing a comprehensive analysis by region and market sector of projected Solid Oxide Fuel Cell (SOFC) sales for 2023 through 2029. With Solid Oxide Fuel Cell (SOFC) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Solid Oxide Fuel Cell (SOFC) industry.
This Insight Report provides a comprehensive analysis of the global Solid Oxide Fuel Cell (SOFC) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Solid Oxide Fuel Cell (SOFC) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Solid Oxide Fuel Cell (SOFC) market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Solid Oxide Fuel Cell (SOFC) and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Solid Oxide Fuel Cell (SOFC).
The global Solid Oxide Fuel Cell (SOFC) market size is projected to grow from US$ 620.2 million in 2022 to US$ 1503.6 million in 2029; it is expected to grow at a CAGR of 1503.6 from 2023 to 2029.
Global Solid Oxide Fuel Cell (SOFC) key players include Bloom Energy, Siemens Energy, Aisin Seiki, Mitsubishi Heavy Industries, Delphi Corp, etc. Global top five manufacturers hold a share about 60%. North America and Europe is the largest market, both with a share about 30%, followed by Japan, with a share about 10 percent. In terms of product, Planar is the largest segment, with a share about 55%. And in terms of application, the largest application is Stationary, followed by Transportation, Portable & Military.
This report presents a comprehensive overview, market shares, and growth opportunities of Solid Oxide Fuel Cell (SOFC) market by product type, application, key manufacturers and key regions and countries.
Market Segmentation:
Segmentation by type
Tubular
Planar
Others
Segmentation by application
Transportation
Portable & Military
Stationary
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Bloom Energy
Siemens Energy
Aisin Seiki
Mitsubishi Heavy Industries
Delphi
GE
Convion
FuelCell Energy
Atrex Energy, Inc
SOLIDpower
ZTEK
Redox Power Systems
Ceres
Elcogen
Key Questions Addressed in this Report
What is the 10-year outlook for the global Solid Oxide Fuel Cell (SOFC) market?
What factors are driving Solid Oxide Fuel Cell (SOFC) market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Solid Oxide Fuel Cell (SOFC) market opportunities vary by end market size?
How does Solid Oxide Fuel Cell (SOFC) break out type, application?
What are the influences of COVID-19 and Russia-Ukraine war?

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