Solid Oxide Fuel Cell Market Captures Growth with CAGR of 13.88% by 2025.

According to the new market research report 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, published by MarketsandMarkets™, Government subsidies and fuel cell programs in North America, Japan, and Europe along with increasing demand for efficient power generation are the major drivers that would trigger the growth in the market.

Rising demand for distributed power generation in North America and Asia Pacific, increasing adoption of solid oxide fuel cells in data centers, and military sector and development of hybrid-SOFC technologies could lead to opportunities for the market. High capital costs and competition from other fuel cell technologies, such as PEMFC could be a restraint to the growth of the market.

In this report, the solid oxide fuel cell market has been analyzed with respect to three regions, namely, North America, Asia Pacific, and Europe. The market in North America is expected to lead the global market during the forecast period due to increasing demand for efficient power generation and government subsidies.

Based on application, the solid oxide fuel cell is segmented into power generation, combined heat and power, military, and others. The power generation application dominated the market mainly due to high demand for distributed power generation for commercial and retail and data centers end-use in the North American region.

Rising demand for distributed power generation in North America and Asia Pacific, increasing adoption of solid oxide fuel cells in data centers, and military sector and development of hybrid-SOFC technologies could lead to opportunities for the market. High capital costs and competition from other fuel cell technologies, such as PEMFC could be a restraint to the growth of the market.

The application segment has been further sub-segmented by end-use. The power generation segment has been sub-segmented into data centers, commercial and retail, and telecom. Combined heat and power has been sub-segmented into commercial and residential end-use; military segment in to stationary power generation and portable and unmanned systems; and others segment includes transportation auxiliary power units and remote emergency power.

Market Ecosystem:

The solid oxide fuel cell ecosystem comprises equipment manufacturers such as Bloom Energy (US), Aisin Seiki (Japan), SOLIDpower (Italy), Sunfire (Germany), UnderSea Sensor Systems (US), Atrex Energy (US), WATT Fuel Cell (US), Hexis (Switzerland), and Convion (Finland).

Some of the leading players in the solid oxide fuel cell market include Bloom Energy (US), Aisin Seiki (Japan), SOLIDpower (Italy), Sunfire (Germany), UnderSea Sensor Systems (US), and Atrex Energy (US). Contracts & agreements and joint ventures and collaborations were some of the strategies adopted by these players.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Contact: Mr. Shelly Singh MarketsandMarkets™ Inc. 630 Dundee Road Suite 430 Northbrook, IL 60062 Usa : 1-888-600-6441 sales@marketsandmarkets.com