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.
Full Research Report on Global Solid Oxide Fuel Cells (SOFC)
Market Analysis:
http://www.grandviewresearch.com/industry-analysis/solid-oxide-fuel-cells-market
http://www.grandviewresearch.com/industry-analysis/solid-oxide-fuel-cells-market
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
View more reports of this category by Grand View Research
at: http://www.grandviewresearch.com/industry/renewable-energy
Grand View Research has segmented the Global Solid Oxide
Fuel Cell (SOFC) Market on the basis of application and region:
Application Outlook (Volume, Units; Capacity, Kw;
Revenue, USD Thousand; 2014 - 2025)
- Stationary
·
Distributed
Energy Generation
§ Residential Application
§ Commercial Application
§ Natural Gas Compression Station
§ Data Centers
§ Military & Defense Application
§ Grid Support
§ Industrial
§ Remote Application
§ Others
·
EPS/UPS
·
Transportation
·
Portable
Regional Outlook (Volume, Units; Capacity, Kw; Revenue,
USD Thousand; 2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- South Korea
- Taiwan
- Japan
- Central & South America
- Middle East & Africa
View press release of this research report by Grand View
Research: http://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.
For more information: www.grandviewresearch.com
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