A solid oxide fuel cell is an electrochemical conversion device that produces electricity directly from oxidizing a fuel. Solid oxide fuel cells use a hard, ceramic compound of metal (such as calcium and zirconium) oxides as electrolytes. Solid oxide fuel cells are one of the many types of fuel cells and produce electricity, water, heat, and small amounts of carbon dioxide using natural gas as fuel.
MARKET DYNAMICS
Government subsidies and increased research & development on fuel cell programs and advantages of fuel flexibility and energy-efficient power generation are driving the growth of the solid oxide fuel cell market. However, the storage issues associated with hydrogen as a fuel for SOFCs may restrain the growth of the solid oxide fuel cell market. Furthermore, the rising distributed power generation applications across regions are anticipated to create a market opportunity for the solid oxide fuel cell market during the forecast period.
MARKET SCOPE
The "Global Solid Oxide Fuel Cell Market Analysis To 2028" is a specialized and in-depth study of the energy and power industry with a special focus on the global market trend analysis. The Solid oxide fuel cell market report aims to provide an overview of the solid oxide fuel cell market with detailed market segmentation by type, application, and geography. The global solid oxide fuel cell market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading solid oxide fuel cell market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global solid oxide fuel cell market is segmented on the basis of type and application. Based on type, the solid oxide fuel cell market is segmented into: planar and tubular. On the basis of application, the solid oxide fuel cell market is segmented into: portable, stationary, and transport.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global solid oxide fuel cell market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The solid oxide fuel cell market by each region is later sub-segmented by respective countries and segments. The solid oxide fuel cell market report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the solid oxide fuel cell market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i. e. , drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the solid oxide fuel cell market in these regions.
IMPACT OF COVID-19 ON SOLID OXIDE FUEL CELL MARKET
The impact of the COVID-19 pandemic on the market is covered throughout the report. The pandemic had a negative impact on the solid oxide fuel cell market. The outbreak of COVID-19 across the world in the first half of 2020 forced multiple countries to go into complete lockdown. Since strict guidelines were issued by governments and local authorities, all non-essential operations were halted. This adversely affected the solid oxide fuel cell market owing to the suspension of activities of end users. In addition, production and supply chain delays are expected to pose a short-term challenge since end user industries are still not operating at their full capacity.
MARKET PLAYERS
The reports cover key developments in the solid oxide fuel cell market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from solid oxide fuel cell market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the solid oxide fuel cell market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the solid oxide fuel cell market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
-Aisin Seiki Corporation Limited
-Acumentrics
-Bloom Energy Corporation
-Ceramic Fuel Cells Limited
-Ceres Power Holdings PLC
-Convion Ltd.
-Delphi
-Fuel Cell Energy
-Hexis AG
-Ultra Electronics