Dublin, April 10, 2023 (GLOBE NEWSWIRE) — The “Solid Oxide Fuel Cells (SOFCs): Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Solid Oxide Fuel Cells (SOFCs) estimated at US$748.9 Million in the year 2022, is projected to reach a revised size of US$9.3 Billion by 2030, growing at a CAGR of 37.1% over the analysis period 2022-2030.
Stationary, one of the segments analyzed in the report, is projected to record a 35.5% CAGR and reach US$7 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Transportation segment is readjusted to a revised 40.4% CAGR for the next 8-year period.
The U.S. Market is Estimated at $219.1 Million, While China is Forecast to Grow at 34.8% CAGR
The Solid Oxide Fuel Cells (SOFCs) market in the U.S. is estimated at US$219.1 Million in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$1.5 Billion by the year 2030 trailing a CAGR of 34.8% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 33.1% and 31.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 24.5% CAGR.
Select Competitors (Total 33 Featured) –
- Adelan Ltd.
- Atrex Energy Inc.
- Bloom Energy Corporation
- Ceramic Fuel Cells Limited
- Ceres Power Limited
- Convion Ltd.
- Elcogen AS
- FuelCell Energy, Inc.
- Hexis AG
- SOLIDpower S.p.A.
- Sunfire GmbH
- Ultra Electronics Holdings Plc
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
|No. of Pages||269|
|Forecast Period||2022 – 2030|
|Estimated Market Value (USD) in 2022||$748.9 Million|
|Forecasted Market Value (USD) by 2030||$9300 Million|
|Compound Annual Growth Rate||37.0%|
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Fuel Cells – A Rudimentary Overview
- Recent Market Activity
- Solid Oxide Fuel Cells – A Curtain Raiser
- Current and Future Analysis
- Collaborative Effort – Key to Successful Commercialization
- Present Levels of Commercialization
- Solid Oxide Fuel Cells (SOFCs) – Global Key Competitors Percentage Market Share in 2022 (E)
- Impact of Covid-19 and a Looming Global Recession
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- SOFCs Takes on Competition from Market Leader PEMFC Head-On
- Growing Focus on Environmental Protection to Drive Adoption of SOFCs in Power & Transportation Sector
- Growing Demand for Electricity Driving Demand for SOFCs in Power Sector
- SOFCs Gather Momentum in Stationary Cogeneration/CHP Deployments
- SOFCs: Ideal for Distributed Power Generation
- Growing Focus on Renewable Energy to Add to Market Demand for SOFCs
- Positive Outlook for Fuel Cell Integrated Residential CHPs
- Efforts in Full Swing to Make SOFC a Mainstream Technology for APU in Automobiles
- Factors Indicating Potential Opportunity for SOFCs in Heavy-Duty Trucks and Refrigerated Transport Vehicles
- Opportunities in Military & Defense Sector
- SOFCs Make Perfect Sense for Mobile Networks
- The Role of the Government in Driving the Market’s Future
- Favorable Government Policies Remain Critical to Success
- Investments Pour In, Promising to Expand the Industry’s Scope
- Planar SOFC Remains the Dominant SOFC Technology in the Market
- SOFCs: A Technology of Interest to Developed Countries
- Japan – A Unique Case of Environment Driven and Energy Driven Market
- Developing Nations Set to Follow Developed Markets in Adoption of SOFCs
- China on the Verge of a Fuel Cell Boom
- Technological Developments Widen Scope of Applications for SOFCs
- Technological Innovations Promise to Revolutionize SOFC Manufacturing
- Nano Coatings Emerge as Means to Enhance Durability of SOFC
- SOFC Demand Not Disruptive to Supplies of Rare Earth Elements
- Conventional Power Companies Vie for the SOFC Pie
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/ur9fc5
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- Global Market for Solid Oxide Fuel Cells (SOFCs)