Burlingame, Jan. 19, 2024 (GLOBE NEWSWIRE) — The global Solid Oxide Fuel Cell Market is expected to be valued at US$ 635.4 million in 2023 and is projected to reach US$ 3,161.2 million by 2031; it is expected to grow at a CAGR of 22.21% from 2024 to 2031 according to a new report by Coherent Market Insights. Solid oxide fuel cells (SOFCs) are electrochemical conversion devices that generate electricity directly from oxidizing a fuel. SOFCs operate at high temperatures, typically between 550–1,000°C. They can use hydrogen, natural gas or other carbon-containing fuels. SOFCs have promising applications for stationary power plants, transportation and small-scale residential co-generation.

(GlobeNewsWire)