Global Solid Oxide Fuel Cell Market was valued at US$ xx Mn in 2019 is expected to reach US$ xx Mn by the end of 2026 at a CAGR of 13.4% from 2020 to 2026.

Global Solid Oxide Fuel Cell Market

There are many types of fuel cells, but they all share a single common design and process, a negative electrode (an anode) and a positive electrode (a cathode) sandwiched around an electrolyte undergo an electrochemical reaction to produce an electric current. Solid Oxide fuel cells (SOFC) use a hard, ceramic compound of metal (like calcium or zirconium) oxides (chemically, O2) as electrolytes. Efficiency is about 60 per cent, and operating temperatures are about 1,000 °C (about 1,800 °F). Cells output is up to 100 kW. At such high temperatures, a reformer is not required to extract hydrogen from the fuel, and waste heat can be recycled to make additional electricity. However, the high-temperature limits applications of SOFC units and they tend to be rather large. While solid electrolytes cannot leak, they can crack.

They are unique in that they can be used for a wide range of applications, from generating power for satellites and space capsules, to powering fuel cell vehicles like automobiles, buses, or boats, to generating primary or emergency backup power for buildings. Solid oxide fuel cells (SOFCs) are considered to have the most potential of any fuel cell technology because of exceptionally high electrical efficiencies and low operating costs, according to researchers and experts. In addition, over the next few years, SOFCs are expected to be the fastest-growing fuel cell market.
Global Solid Oxide Fuel Cell Market Dynamics:

Government Regulations and increased R&D on fuel cell programs to drive Solid Oxide Fuel Cell market

Urbanization and government measures to upgrade modern aging power systems are driving demand for alternative energy sources and energy diversification. Rising carbon emissions, a fragile grid, and extreme weather events in a post-climate-change environment are driving demand for more resilient power, more sustainable electricity, and cleaner energy. Fuel cells are ideally positioned to meet this demand, which has had a positive effect on the market growth. Fuel cells are much cleaner and more sustainable than conventional combustion-based technology because they generate electricity through an electrochemical reaction rather than fuel combustion.

Fuel cells are clean because they release fewer greenhouse gases than the grid, and they don't emit harmful nitrogen oxide and Sulphur dioxide gases, which have been correlated to poor air quality and serious respiratory diseases around the world.

Fuel cells not only solve the causes of climate change by lowering pollution, but they also address the effects of climate change, such as more intense, frequent, and longer power outages caused by extreme weather events like the Midwest polar vortex. Fuel cells have increased electrical reliability and energy security because they generate power on-site, right where it is consumed. Fuel cells are also ideal building blocks for microgrids. Hospitals and healthcare facilities, as well as high-tech manufacturing centers, data centers, and retail stores, are rapidly adopting microgrids with fuel cell technology for more reliable electricity.

The report has profiled twenty-five key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analysis and report has come up with recommendations for a future hot spot in North America. Major country’s policies about manufacturing and their impact on Solid Oxide Fuel Cell demand are covered in the report.
Global Solid Oxide Fuel Cell Market Segment Analysis

Global Solid Oxide Fuel Cell Market

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The power generation segment is expected to grow at a CAGR of xx% during the forecast period.

Based on the end-user, in 2019, the power generation segment holds the largest market share of xx% in 2019 and it is estimated to reach USD$ XX Mn by 2026. The market is projected to be driven by increased demand for renewable energy generation. Distributed power storage and remote and backup power solutions for residential, commercial, and industrial applications such as commercial offices, residential complexes, retail stores, data centers, and telecom towers are referred to as power generation. Bloom Energy's dominance in the SOFC industry, where it provides distributed power generation solutions mainly in the United States as well as other countries such as South Korea, Japan, and India, is the reason for this segment's large market share.
Global Solid Oxide Fuel Cell Market Regional Insights:

Global Solid Oxide Fuel Cell Market 1
North America to witness a high market growth rate and is expected to grow at a CAGR of xx% by 2026

The Asia Pacific market for Solid Oxide Fuel Cells is expected to rise at a faster pace than the rest of the world by 2026, owing to increased energy demand, and rising construction. The region has been classified into two countries, the United States and Canada. The United States is the region's largest and fastest-growing economy. The high demand for fuel cell power generation, as well as increased research and development for hydrogen generation, is attributed to the country's growth. Government policies and subsidies, such as the Department of Energy's (DoE) Solid State Energy Conversion Alliance (SECA) Program, are also major drivers of demand development in the United States.

The objective of the report is to present a comprehensive analysis of the global Solid Oxide Fuel Cell market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the global Solid Oxide Fuel Cell market dynamics, structure by analyzing the market segments and project the global Solid Oxide Fuel Cell market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Solid Oxide Fuel Cell market make the report investor’s guide.
Recent Developments:

• In August 2020, Aisin Seiki and Aisin AW, both part of the Aisin Group, are planning to merge their management teams in order to expand their advanced research businesses. The productivity of integrated projects and resources will be improved as a result of this integration, resulting in a more agile research system.

• In April 2020, to support the transition from petroleum-based energy to renewable energy, Aisin Seki and its subsidiary Konan Kogyo developed a hydrogen station. Toyota Group and Aisin Seiki intend to use fuel cell-electrified buses as part of this collaboration.COVID-19 Impact on the Solid Oxide Fuel Cell Market.
COVID-19 Impact on the Solid Oxide Fuel Cell Market

Multiple countries were forced to go into full lockdown after the global outbreak of COVID-19 in the first half of 2020. All non-essential activities were suspended after governments and local authorities provided strict guidelines. Since end users' operations were halted, this had a negative impact on the SOFC industry. Furthermore, since end-user industries are still not running at full capacity, output, and supply chain delays are likely to be a short-term problem.
Global Solid Oxide Fuel Cell Market Scope: Inquire before buying

Global Solid Oxide Fuel Cell Market 2
Global Solid Oxide Fuel Cell Market, by Region

• North America
• Europe
• Middle East & Africa
• Asia Pacific
• South America
Global Solid Oxide Fuel Cell Market Key Players

• Bloom Energy
• Ceres Power
• Mitsubishi Power
• Aisin Seiki Co
• Hitachi Zosen
• Ensol Systems
• Sunfire GmbH
• FuelCell Energy
• AVL
• Catator
• Bosch
• Convion
• Elcogen
• Suzhou Huatsing Jingkun New Energy Technology Co., Ltd.
• Sunre GmbH
• Nexceris, LLC
• Other key players

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