A solid oxide fuel cell (or SOFC) is an electrochemical conversion device that produces electricity directly from oxidizing a fuel. Fuel cells are characterized by their electrolyte material; the SOFC has a solid oxide or ceramic electrolyte. Advantages of this class of fuel cells include high efficiency, long-term stability, fuel flexibility, low emissions, and relatively low cost. The largest disadvantage is the high operating temperature which results in longer start-up times and mechanical and chemical compatibility issues.
Solid oxide fuel cells are emission free power sources, which run on electrochemical conversion reactions. SOFC use ceramic electrolytes that are hard and non-porous in nature. As the electrolyte is a solid, the cells are not necessarily constructed in a plate-like configuration as seen in other fuel cell types. Electrical efficiency provided is around 50% to 60%. In applications designed to capture and utilize the system's waste heat (cogeneration), the overall fuel use efficiency could top 80% to 85% and operate at very high temperatures of around 1,000°C (1,830°F). The unique properties of solid oxide fuel cell such as portability, long-term stability, easy fuel selection, and emission-free power serve this requirement. These cells have vast applications, with military applications expecting the highest growth. Planar SOFC has been identified to be the dominating fuel cell in the market for its versatility. Asia-Pacific is the leading market for SOFC with Japan and South Korea dominating the region.
The overall solid oxide fuel cells market is still in its nascent stage with existence of several untapped applications. The most prominent concern for the industry growth is the high cost of manufacturing and elongated time for charging up. SOFCs are extensively being used for power generation as it acts a clean source of energy. Due to their higher efficiency as compared to other fuel cells, SOFCs stand the most lucrative chance for further development in the coming years. Subsequently, the market has emerged highly dynamic over the period of time. Some of the major companies operating in the market include Bloom Energy,FuelCell Energy, Aisin Seiki, Siemens Energy, Protonex, LG Chem and others.
Categorization on the basis of technology includes tubular, planar and other SOFCs. Planar SOFC have the largest market demand on account of higher power ratio as compared to other SOFCs, despite high installation costs. Planar SOFC has the highest electrical efficiency that allows great potential for applications in military, leading to higher demand in the aforementioned application. Further segmentation on the basis of application includes transportation, military and portable energy purposes, as well as small & large stationery. Major SOFC application lies in military on account of portability and compact nature of these fuel cells. Power output is also higher and easier to achieve than other conventional solar cells, which is expected to positively impact the SOFC growth market during the forecast period.
The global SOFC market was valued at xx million US$ in 2018 and will reach xx million US$ by the end of 2025, growing at a CAGR of xx% during 2019-2025.
This report focuses on SOFC volume and value at global level, regional level and company level. From a global perspective, this report represents overall SOFC market size by analyzing historical data and future prospect.
Regionally, this report categorizes the production, apparent consumption, export and import of SOFC in North America, Europe, China, Japan, Southeast Asia and India.
For each manufacturer covered, this report analyzes their SOFC manufacturing sites, capacity, production, ex-factory price, revenue and market share in global market.
The following manufacturers are covered:
Bloom Energy
FuelCell Energy
Aisin Seiki
Siemens Energy
Protonex
LG Fuel Cell Systems
Acumentrics
Delphi Corp
ZTEK Corporation
Redox Power Systems
Segment by Regions
North America
Europe
China
Japan
Southeast Asia
India
Segment by Type
Planar
Tubular
Other
Segment by Application
Stationary
Transportation
Portable & Military
Summary:
Get latest Market Research Reports on SOFC. Industry analysis & Market Report on SOFC is a syndicated market report, published as Global SOFC Market Professional Survey Report 2019. It is complete Research Study and Industry Analysis of SOFC market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.