Stratistics MRCs Planar Solid Oxide Fuel Cell Market report enables readers to understand details of the market, summary, drivers, challenges and segmentation with types.
Planar solid oxide fuel cell (SOFC) is a flat, thin ceramic plate that converts the chemical energy of a fuel into electricity with least amount emissions. It offers a clean, low-pollution technology to electrochemically generate electricity at high efficiencies, since their efficiencies are not limited by the Carnot cycle of a heat engine. These fuel cell technologies have many advantages over traditional energy conversion systems including high efficiency, consistency, modularity, fuel compliance, and very low levels of NOx and SOx emissions.
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By geography, the Asia Pacific region is projected to be the fastest-growing market for spray drying equipment, owing to increasing demand for the product from the automotive industry, in countries including India, Indonesia, and Thailand. In addition to this, the expansion of several other end-use industries in the developing nations of the region is expected to augment the growth of the regional market. Japan is leading in the region with vast applications of fuel cells, ranging from backup services for data centers, combined heat and power for homes, and many more. This is expected to provide a significant market growth for planar solid oxide fuel cell market. China has also witnessed a rise in its hyper-scale platforms, owing to which providing data center services for Chinese hyper-scale platforms have become necessary.
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Some of the key players in Planar Solid Oxide Fuel Cell Market include Accumentrics Corporation, Bloom Energy Corporation, Fuel Cell Energy, Ceramic Fuel Cells Limited, Watt Fuel Cell Corporation, Ultra Electronics, Ceres Power Holdings PLC., Protonex Technology Corporation, Aisin Seiki Corporation Limited, Delphi, SOFC Power S.P.A., Staxera Sunfire Gmbh, Topsoe Fuel Cell, Convion Fuel Cells Ltd., Hexis AG, Ballard Power Systems Inc., and Chevron Corporation.
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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Related Markets:
- https://www.strategymrc.com/report/solid-oxide-fuel-cell-market
- https://www.strategymrc.com/report/stationary-fuel-cells-market
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Several end-use industries, such as chemical, power generation, and automotive, are increasingly using planar solid oxide fuel cells (SOFCs) due to the various advantages offered by such cells, such as fuel adaptability, high efficiency, and low sulfur oxide (SOx) and nitrogen oxide (NOx) emissions.
The increasing adoption of these cells can be attributed to the surging enactment of stringent regulations in Germany, Japan, and the U.S. to curtail the generation of harmful emissions from such end-use industries.
Additionally, these emission norms also aim to reduce the dependency of such countries on fossil fuels.Moreover, the rapid development of alternative power generation technologies is expected to fuel the planar solid oxide fuel cell market at a CAGR of 11.4% during 2016–2022.
The market was valued at $379.9 million in 2015 and it is projected to reach $804.9 million by 2022.
Governments across the world are concerned about the depletion of non-renewable resources.
To overcome this challenge, countries such as Germany, China, Japan, South Korea, and the U.S. are focusing on the development of planar SOFC technology by undertaking numerous research activities.Additionally, the widening application base of SOFCs in the oil and gas industry will fuel the production of such products in the coming years.
Global Solid Oxide Fuel Cell Market was valued US$600 Mn in 2017 and is expected to reach US$1,150 Mn by 2026 at a CAGR of about 9.5 %.
The reported segment of Global Solid Oxide Fuel Cell Market based on type, application, end user and region.
Renewable and cost-effective solution over the traditional energy source is the factor to boost the demand for a planar solid oxide fuel cell.
Government subventions for a fuel cell in developed economies such as North America, Japan, and Europe alongside with growing demand for efficient power generation are the driving factor for growth in the planar solid oxide fuel cell market.
The increasing costs of compounds and commercialization are swelling complexity in the formation of a substructure of solid oxide fuel cells will restrain the growth of the market.
Planar solid oxide fuel cell is widely used in commanding power module owing to it offers efficient flexibility.
