Demand for Solid Oxide Fuel Cell (SOFC) is propelled by the rising need for energy-efficient power production in commercial sector such as industries, hospitals, shopping malls, etc. Additionally, increasing adaptivity by end users like data centers, military and defense, provide ample opportunities for leading companies to invest in SOFC, thereby, driving the growth of SOFC in the forecast period.

Increasing adaptivity by end users in data centers and the military sectors, as well as rising distributed power generation applications across regions, are likely to provide profitable prospects for the fuel cell market in upcoming future. However, demand for fuel cells in emerging economies is still at nascent stage. Thus, manufacturers should focus on manufacturing fuel cells in emerging countries, which will drive the fuel cell market, according to a research report published by Azoth Analytics in May 2022.

Also, SOFCs are a holy grail in the form of its rising utilization in the electric vehicles on account of a surge in demand in the electric vehicles. According to IEA, there were around 10 million electric passenger cars in 2020. Electric vehicles have been witnessing an upward trend in terms of sales as the EVs have less environmental impact compared to gasoline vehicles. Thus, fuel cells are increasingly used as an alternative technology to power vehicles by different manufacturers.

Furthermore, fuel adaptable SOFCs might be used in power plants to make better use of natural gas or coal synthesis gas in the future. For large SOFCs, targets for industrial-scale DG and utility scale generation include high-volume production at USD 900/kW and durability >50,000 hours.

The Azoth Analytics research report titled ‘Global Solid Oxide Fuel Cell (SOFC) - 2022 Edition’ has analyzed the SOFC market at global level, regional level (Americas, Europe, Asia-Pacific, Middle East & Africa) and country level (United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, China, Japan, South Korea). The report assesses the SOFC market by Type (Planar, Tubular), by application (Portable, Transport, Stationary) and by End User (Residential, Data Centers, Military & Defense, Transportation, Commercial & Industrial). The market has been analyzed for the historical period of 2017-2021 and the forecast period of 2022-2027. The companies profiled in the report include Mitsubishi Power, Ltd., Bloom Energy Corporation, Miura Co., Ltd., Hitachi Zosen Corporation, Kyocera Corporation, FuelCell Energy, Inc., Cummins, Aisin Corporation, Ceres Power Holdings plc , WATT Fuel Cell Corporation, Convion, Elcogen and SOLIDPower s.p.a.
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https://www.azothanalytics.com/report/energy-and-power/global-solid-oxide-fuel-cell-sofc-market-analysis-by-type-application-end-user-by-region-by-country-2022-edition-market-insights-and-forecast-with-impact-of-covid-19-2022-2028

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