San Francisco,9 October
2018: The global solid oxide fuel cell market is expected to reach USD 1.42 billion by 2025,
growing at a CAGR of 30%, according to a report by Grand View Research, Inc.
Government funding is largely being replaced by corporate funding and in turn
exhibited to display positive growth potential. There has been an increase of
more than 44% of corporate funding from the period 2013 until 2016 hence
displaying feasible commercialization prospect for the technology.
The rising pressure
among nations to reduce carbon emissions while strengthening energy security is
another factor favoring the growth of the solid oxide fuel cell market. Due to
its working characteristic, solid oxide fuel cell has an efficiency in the
range of 50-60%. However, there are concerns among solid oxide fuel cell
manufacturers to reduce the production cost to generate significant profit
margin.
The soaring capital
& operational costs and underutilization of various facilities for the
development of solid oxide fuel cell electric vehicle market are likely to
result in high investment risks. High capital costs are directly related to the
compression and storage of hydrogen. Therefore, highly pressurized hydrogen
storage requires costly compressors. This is likely to pose a threat to market
participants.
The Asia Pacific region
is expected to benefit due to favorable governmental regulations in countries
such as Japan and South Korea. Fuel cell powered automobiles and residential
projects receive government subsidies in the region. Big players in North
America such as Walmart, Coca-Cola, Equinix, Apple, CenturyLink, AT&T,
Verizon are actively investing in solid oxide fuel cell technology to reduce
emissions and generate power for company operations.
Access Research Report
of Solid Oxide Fuel Cells
Market @ www.grandviewresearch.com/industry-analysis/solid-oxide-fuel-cells-market
Further key findings from the report suggest:
· The global solid oxide fuel cell market
demand is expected to exceed 1,773.3 MW by 2025, at a predicted CAGR of 40.4%
from 2017 to 2025
· The transportation application is expected
to witness growth rate in terms of units sold whereas stationary applications
is expected to have the highest growth rate in terms of revenue
· Asia Pacific was the largest consumer of
solid oxide fuel cell in 2016, in terms of units, closely followed by North
America
· The consumption of solid oxide fuel cell in
Europe is expected to reach 112.6 MW by the end of 2025 due to the
restructuring of infrastructure in Germany and France
· Japan accounted for over 30% of the global
solid oxide fuel cell demand in 2016 and is expected to maintain dominance over
the forecast period
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/renewable-energy
Grand View Research has
segmented the global solid oxide fuel cell market on the basis of application
and region:
Application Outlook (Volume, Units; Capacity, Kw;
Revenue, USD Thousand; 2014 - 2025)
·
Stationary
o
Distributed Energy Generation
o
EPS/UPS
·
Transportation
·
Portable
Regional Outlook (Volume, Units; Capacity, Kw; Revenue,
USD Thousand; 2014 - 2025)
·
North America
o
U.S.
·
Europe
o
Germany
o
UK
o
France
·
Asia Pacific
o
China
o
South Korea
o
Taiwan
o
Japan
·
Central & South America
·
Middle East & Africa
Access Press Release of
Solid Oxide Fuel Cells Market@ www.grandviewresearch.com/press-release/global-solid-oxide-fuel-cells-sofc-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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