Energia
Solid Oxide Fuel Cell Market Worth $6.5 Billion by 2027 - Exclusive Report by MarketsandMarkets™
The market is segmented, by type, into planar and tubular type solid oxide fuel cell. The planar segment is estimated to lead the market in terms of market size; however, the tubular segment is expected to be the fastest-growing market. The growth of the planar segment is mainly because of its the simple geometry and relatively easier construction process.
The market is segmented, by application, into portable, stationary and transport application solid oxide fuel cell. The stationary segment is estimated to lead the market in terms of market size and is even expected to be the fastest-growing market. The growth of the stationary segment is driven by the increasing focus on hydrogen-powered fuel cells for back-up power.
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The market is segmented, by end-user, into commercial & industrial, data centers, military & defense, and residentials. The commercial & industrial segment accounted for the largest Solid Oxide Fuel Cell Market share in 2021. Increased demand for clean energy generation is expected to drive the market. The commercial and industrial segment held a 42.8% share in 2021 of the global solid oxide fuel cells market. Commercial and industrial end users include hospitals, hotels, shopping center malls, office buildings, sports centers, transportation and various others industrial facilities.
Asia Pacific accounted for a 45.5% share of the Solid Oxide Fuel Cell Market in 2021 and is expected to growth with a CAGR of 37.1% in the forecast period. The region has been segmented, by country, into Japan , China , South Korea and Rest of Asia Pacific . The Rest of Asia Pacific includes Australia , and India . The region faces a tough challenge to reduce its carbon footprint from various fossil-fuel-powered operations, including power generation. Asia Pacific is one of the leading markets that has adopted green technologies to meet the targets set by the governments for reducing GHG emissions. Furthermore, countries such as Japan and South Korea are increasing their investments to adopt SOFC technology
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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top manufacturers in the Solid Oxide Fuel Cell Market. These players include Bloom Energy (US), Ceres(UK), Mitsubishi Power ( Japan ), Aisin Corporation ( Japan ), and Hitachi Zosen Corporation ( Japan ).
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