According to the new market research report "Solid Oxide Fuel Cell Market by Type (Planar & Tubular), Application (Portable, Stationary, & Transport), End User (Commercial & Industrial, Data Centers, Military & Defense, and Residential ) and Region - Global Forecasts to 2027", published by MarketsandMarkets™, the Solid Oxide Fuel Cell Market size will grow to USD 6.5 billion by 2027 from USD 1.5 billion in 2022, at a CAGR of 33.9 % during the forecast period. Government subsidies and increased R&D on fuel cell programs; fuel flexibility and increasing demand for energy-efficient power generation and stringent emission norms are likely to drive the Solid Oxide Fuel Cell Market. Rising distributed power generations applications across regions and increasing adaptivity by end users in data centers and military sectors will be the main opportunities growing in market. Asia Pacific is estimated to be the largest market from 2022 to 2027 and is expected to see a high demand for solid oxide fuel cell due to the high demand for fuel cell power generation, as well as increasing research and development for hydrogen generation. 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.
Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=39365796
The planar segment is expected to dominate the Solid Oxide Fuel Cell Market, by product type, during the forecast period.
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 stationary segment is expected to be the largest Solid Oxide Fuel Cell Market, by application, during the forecast period.
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.
Browse in-depth TOC on "Solid Oxide Fuel Cell Market"
178 – Tables
52 – Figures
237 – Pages
View Detailed Table of Content Here: https://www.marketsandmarkets.com/Market-Reports/solid-oxide-fuel-cell-market-39365796.html
Commercial & industrial segment is expected to be the largest Solid Oxide Fuel Cell Market, by end-user industry, during the forecast period.
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 is expected to dominate the global Solid Oxide Fuel Cell Market, during the forecast period
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
Make an Inquiry @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=39365796
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).
Browse Related Reports:
Hydrogen Generation Market by Application (Petroleum Refinery, Ammonia & Methanol production, Transportation, Power Generation), Generation & Delivery Mode (Captive, Merchant), Source (Blue, Green & Grey Hydrogen), Technology, and Region-Forecast to 2025
https://www.marketsandmarkets.com/Market-Reports/hydrogen-generation-market-494.html
Fuel Cells Market by Type (Proton Exchange Membrane Fuel Cell, Phosphoric Acid Fuel Cell, Alkaline Fuel Cell, Microbial Fuel Cell), Application (Transport, Stationary, Portable), End-User, Region - Global Forecast to 2025
https://www.marketsandmarkets.com/Market-Reports/fuel-cell-market-348.html
Power-to-gas Market by technology (Electrolysis and Methanation), Capacity (Less than 100 kW, 100–999kW, 1000 kW and Above), End-User (Commercial, Utilities, and Industrial), and Region (North America, Europe, Asia Pacific) - Global Forecast to 2024
https://www.marketsandmarkets.com/Market-Reports/power-to-gas-market-200568452.html
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441