Research Nester published a report titled “Solid Oxide Fuel Cell Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers detailed overview of the global solid oxide fuel cell market in terms of market segmentation by type, application, end-user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global solid oxide fuel cell market is estimated to grow with a CAGR of ~34% over the forecast period, i.e., 2023 – 2033. The market is segmented by application into portable, stationary, and transport. Among these, the stationary segment is expected to hold a notable share in the market owing to the rise in energy demand across various verticals worldwide. As per the U.S Energy Information Administration, the world energy consumption is estimated to increase by 50% during 2018-2050.

The global solid oxide fuel cell market is anticipated to garner a revenue of ~USD 7 billion by the end of 2033, from revenue of ~USD 2 billion in the year 2022. The market is expected to grow on account of an increase in the use of green energy technologies during the forecast period. Renewable technologies constitute about 11% of the primary energy around the world in 2019.

Geographically, the global solid oxide fuel cell market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of which the market in the Asia Pacific region is projected to hold the highest market share during the forecast period on the back of rising industrialization and urbanization in the region. In 2010, 80.7% of the U.S population i.e., 249,253,271 people lived in cities as per the United States Census Bureau.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Constant Research and Development on Hydrogen Energy Production to Drive Market Growth

General fuel cells cause chemical reactions and combustion to produce energy that is harmful to the environment. But, the use of hydrogen in fuel cells is increasing on account of its eco-friendly by-products including water and heat. With the increasing concern towards the environment and carbon emissions, the preference for hydrogen in the fuel cells is boosting the solid oxide fuel cell market during the forecast period. About 14.4 exajoules i.e., about 4% of final energy across the world in 2019 was generated from hydrogen, according to the International Energy Agency statistics.

However, high cost and fabrication and deterioration in the performance of cells are expected to operate as key restraints to the growth of the global solid oxide fuel cell market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global solid oxide fuel cell market which includes company profiling of Robert Bosch GmbH, Mitsubishi Heavy Industries, Ltd., Aisin Corporation, Sunfire GmbH, FuelCell Energy, Inc., Catator ABNexceris, LLC, Ceres Power Holdings plc, General Electric Company, and Doosan Fuel Cell Co., Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global solid oxide fuel cell market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

For More info Visit our site: