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A solid oxide fuel cell (or SOFC) is an electrochemical conversion device that produces electricity directly from oxidizing a fuel. Fuel cells are characterized by their electrolyte material; the SOFC has a solid oxide or ceramic electrolyte. Advantages of this class of fuel cells include high efficiency, long-term stability, fuel flexibility, low emissions, and relatively low cost. The largest disadvantage is the high operating temperature which results in longer start-up times and mechanical and chemical compatibility issues.
Scope of the Report:
This report focuses on the Solid Oxide Fuel Cell (SOFC) in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
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. Asia-Pacific is the leading market for SOFC with Japan and South Korea dominating the region.
The overall solid oxide fuel cells market is still in its nascent stage with existence of several untapped applications. The most prominent concern for the industry growth is the high cost of manufacturing and elongated time for charging up. SOFCs are extensively being used for power generation as it acts a clean source of energy. Due to their higher efficiency as compared to other fuel cells, SOFCs stand the most lucrative chance for further development in the coming years. Subsequently, the market has emerged highly dynamic over the period of time. Some of the major companies operating in the market include Bloom Energy,FuelCell Energy, Aisin Seiki, Siemens Energy and others.
Categorization on the basis of technology includes tubular, planar and other SOFCs. Planar SOFC have the largest market demand on account of higher power ratio as compared to other SOFCs, despite high installation costs. Planar SOFC has the highest electrical efficiency that allows great potential for applications in military, leading to higher demand in the aforementioned application. Further segmentation on the basis of application includes transportation, military and portable energy purposes, as well as small & large stationery. Major SOFC application lies in military on account of portability and compact nature of these fuel cells. Power output is also higher and easier to achieve than other conventional solar cells, which is expected to positively impact the SOFC growth market during the forecast period.
High costs of commercialization and catalysts, as well as complexity in infrastructure establishment are expected to hinder the SOFC market growth over the forecast period. SOFC also requires high temperatures for activation of ceramic electrolytes in the device, which could lead to chemical and mechanical compatibility issues and longer start-up buffer time.
The worldwide market for Solid Oxide Fuel Cell (SOFC) is expected to grow at a CAGR of roughly 12.8% over the next five years, will reach 840 million US$ in 2023, from 410 million US$ in 2017, according to a new GIR (Global Info Research) study.
Market Segment by Manufacturers, this report covers
- Bloom Energy
- Siemens Energy
- Aisin Seiki
- Mitsubishi Heavy Industries
- Delphi Corp
- FuelCell Energy
- Atrex Energy, Inc
- ZTEK Corporation
- Redox Power Systems
Market Segment by Regions, regional analysis covers
- North America (United States, Canada and Mexico)
- Europe (Germany, France, UK, Russia and Italy)
- Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
- South America (Brazil, Argentina, Colombia etc.)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
Market Segment by Applications, can be divided into
- Portable & Military
There are 15 Chapters to deeply display the global Solid Oxide Fuel Cell (SOFC) market.
Chapter 1, to describe Solid Oxide Fuel Cell (SOFC) Introduction, product scope, market overview, market opportunities, market risk, market driving force;
Chapter 2, to analyze the top manufacturers of Solid Oxide Fuel Cell (SOFC), with sales, revenue, and price of Solid Oxide Fuel Cell (SOFC), in 2016 and 2017;
Chapter 3, to display the competitive situation among the top manufacturers, with sales, revenue and market share in 2016 and 2017;
Chapter 4, to show the global market by regions, with sales, revenue and market share of Solid Oxide Fuel Cell (SOFC), for each region, from 2013 to 2018;
Chapter 5, 6, 7, 8 and 9, to analyze the market by countries, by type, by application and by manufacturers, with sales, revenue and market share by key countries in these regions;
Chapter 10 and 11, to show the market by type and application, with sales market share and growth rate by type, application, from 2013 to 2018;
Chapter 12, Solid Oxide Fuel Cell (SOFC) market forecast, by regions, type and application, with sales and revenue, from 2018 to 2023;
Chapter 13, 14 and 15, to describe Solid Oxide Fuel Cell (SOFC) sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source