The global planar solid oxide fuel cell market is likely to grow from $379.9 million in 2015 to $804.9 million by 2022. With the increasing need for high electrical efficiency, growing utilization of biomass, and rising applications in the military, transportation and small stationary sectors, the global market for planar solid oxide fuel cell is expected to witness a robust pace during the forecast period. Solid oxide fuel cell is an energy-efficient process that converts the fuel into electricity through either combustion or integrated gasification combined cycle, thereby ensuring the removal of CO2 from exhaust streams.

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Geographically, Asia-Pacific was the largest market for planar solid oxide fuel cell, where Japan was the largest contributor to the regional market. U.S. was the major market for planar solid oxide fuel cell in North America, whereas in Europe, Germany generated the highest revenue. Rest of the World (RoW) includes Latin American and Middle East and African countries. Brazil was the largest market for planar solid oxide fuel cell in the RoW.

The main factors driving the growth of the global planar solid oxide fuel cell market include growing demand for renewable and efficient energy source and increasing demand from automotive sector. Increasing government regulations such as the Integrated Product Policy by European Commission focusing on addressing the environmental impacts of the non-renewable products has been observed in the global market for planar solid oxide fuel cell during the past decade.

Growing importance of alternative energy-conversion devices are replacing combustion-based electrical generators due to the high-energy conversion efficiency and low emission of planar solid oxide fuel cell. With the expected increase in deployments of Fuel Cell Electric Vehicles (FCEVs) by major automakers, industrial development is focusing on supporting FCEVs and the development of hydrogen-fueling infrastructure.

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Growing application in oil and gas industry creates ample opportunities for the global planar solid oxide fuel cell market. Analysts observed that planar solid oxide fuel cell is used in the oil and gas industry to provide reliable automation and gas flow computing solutions for telemetry and remote supervisory control and data acquisition (SCADA) applications.

Some of the key players in the global market for planar solid oxide fuel cell include FuelCell Energy, Inc., Aisin Seiki Co., Ltd., Ultra Electronics Holdings plc, Ceres Power Holdings plc, Ballard Power Systems Inc., SOLIDpower S.p.a, Convion Ltd., Delphi Automotive PLC., and Chevron Corporation.