Global Solid Oxide Fuel Cell Market 2016-2020
An SOFC is a fuel cell that produces electricity through an electrochemical process. SOFCs offer low emissions, long-term stability, high efficiency, and fuel flexibility. The excellent fuel flexibility of the devices permit the use of safe, cheap, and readily available fuels such as hydrocarbons, natural gas, hydrogen, methanol, and syngas. SOFCs, however, require a high operating temperature, usually within the range of 500°C-1,000°C for the activation of the electrolyte. These high operating temperatures lead to mechanical and chemical compatibility issues and result in longer start-up times.
Technavio’s analysts forecast the global SOFC market to grow at a CAGR of 9.78% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global SOFC market for 2015-2020. To calculate the market size, the report considers the revenue generated from the installation of SOFC while shipment is based upon the total MW shipped.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global SOFC Market 2016-2020Technavio recognizes the following companies as the key players in the Global SOFC Market: Acumentrics, Aisin, Bloom Energy, FuelCell Energy, Protonex and Redox Power systems.Other Prominent Vendors in the market are: Ceramic Fuel Cells, Ceres Power Holdings, Delphi, GE, Kyocera, LG Fuel Cell Systems, Mitsubishi Heavy Industries, Panasonic, Toshiba and Ultra Electronics AMI.Commenting on the report, an analyst from Technavio’s team said: “As SOFC deployments and the size of the systems increase, the capital cost per unit decreases. This reduction in price will greatly influence the acceptance of SOFCs across various end-users, allowing them to be used in a variety of applications. An example to support the above statement has been given below, where we have explained the reduction in costs for CHP Systems as well as APU systems.”According to the report, technological advancements have led to a growth in the usage of SOFCs in various electronics devices. Significant improvements have been made to increase the system energy densities. With the increase in energy density, the lifespan and performance of SOFCs will also increase, enabling the usage of the devices in many portable applications. These advances in technology will enable SOFCs to replace lithium-based batteries for portable applications.Further, the report states that SOFC is a highly competitive market with many manufacturers, both local and international, facing stiff competition from not only other fuel cell manufacturers but also from alternative technologies such as solar energy, other energy storage application such as batteries, and internal combustion engines.
Acumentrics, Aisin, Bloom Energy, FuelCell Energy, Protonex, Redox Power systems, Ceramic Fuel Cells, Ceres Power Holdings, Delphi, GE, Kyocera, LG Fuel Cell Systems, Mitsubishi Heavy Industries, Panasonic, Toshiba, Ultra Electronics AMI.