Solid Oxide Fuel Cells Market Analysis, Size, Growth, Share & Forecast to 2025 | Grand View Research Inc.
“Solid Oxide Fuel Cells Market Worth $1.42 Billion By 2025 | CAGR: 30%�
The global solid oxide fuel cell market is expected to reach USD 1.42 billion by 2025, growing at a CAGR of 30%, according to a report by Grand View Research, Inc. Government funding is largely being replaced by corporate funding and in turn exhibited to display positive growth potential. There has been an increase of more than 44% of corporate funding from the period 2013 until 2016 hence displaying feasible commercialization prospect for the technology. The rising pressure among nations to reduce carbon emissions while strengthening energy security is another factor favoring the growth of the solid oxide fuel cell market. Due to its working characteristic, solid oxide fuel cell has an efficiency in the range of 50-60%. However, there are concerns among solid oxide fuel cell manufacturers to reduce the production cost to generate significant profit margin. The soaring capital & operational costs and underutilization of various facilities for the development of solid oxide fuel cell electric vehicle market are likely to result in high investment risks. High capital costs are directly related to the compression and storage of hydrogen. Therefore, highly pressurized hydrogen storage requires costly compressors. This is likely to pose a threat to market participants.
The Asia Pacific region is expected to benefit due to favorable governmental regulations in countries such as Japan and South Korea. Fuel cell powered automobiles and residential projects receive government subsidies in the region. Big players in North America such as Walmart, Coca -Cola, Equinix, Apple, CenturyLink, AT&T, Verizon are actively investing in solid oxide fuel cell technology to reduce emissions and generate power for company operations. Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/solid-oxide-fuel-cells-market
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Further key findings from the report suggest: • The global solid oxide fuel cell market demand is expected to exceed 1,773.3 MW by 2025, at a predicted CAGR of 40.4% from 2017 to 2025 •
The transportation application is expected to witness growth rate in terms of units sold whereas stationary applications is expected to have the highest growth rate in terms of revenue
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Asia Pacific was the largest consumer of solid oxide fuel cell in 2016, in terms of units, closely followed by North America
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The consumption of solid oxide fuel cell in Europe is expected to reach 112.6 MW by the end of 2025 due to the restructuring of infrastructure in Germany and France
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Japan accounted for over 30% of the global solid oxide fuel cell demand in 2016 and is expected to maintain dominance over the forecast period
Table of Contents Chapter 1 Methodology and Scope 1.1 Research methodology 1.2 Research scope and assumptions 1.3 List of data sources Chapter 2 Market Snapshot 2.1 Solid Oxide Fuel Cell: Industry snapshot Chapter 3 Solid Oxide Fuel Cell Market Variables, Trends, and Scope 3.1 Market segmentation 3.2 Market size and growth prospects, 2014 - 2025 3.3 Solid Oxide Fuel Cell value chain analysis 3.4 Solid Oxide Fuel Cell - Technology Outlook 3.4.1 Competitive Landscape 3.4.2 Patent Landscape 3.5 Solid Oxide Fuel Cell - Application Trends & Analysis 3.5.1 Fuels used by application 3.5.2 Performance Mapping 3.5.3 Installation Cost 3.5.4 Drivers & Restraints 3.5.5 Competition By Application 3.6 Solid Oxide Fuel Cell market dynamics 3.6.1 Market driver analysis
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3.6.1.1 Increasing private-public partnerships 3.6.1.2 Reduced environmental impact 3.6.2 Market restraint analysis 3.6.2.1 High cost of solid oxide fuel cell systems resulting in high cost of FCEV 3.6.2.2 Risks associated with investment in hydrogen refueling stations 3.7 Industry analysis - Porter’s 3.8 Solid Oxide Fuel Cell PESTEL analysis Continue…………………. About Grand View Research, Inc.: Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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