Global Solid Oxide Fuel Cell Market, By Type (Planar, Tubular), By Application (Power Generation, Co

Published Date: | Report Code : EQ1958703

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Market Dynamics

The growing implementation of solid oxide fuel cells in information centers is expected to drive the growth of the Global Solid Oxide Fuel Cell Market during the forecast period. This has resulted in some of the key developments by companies operating in the market to consolidate their market positions and look for further niche opportunities.

Segment Analysis

Solid oxide fuel cells operate at very high temperatures, at around 800°C to 1,000°C the highest of all kinds of fuel cells. When converting fuel to electricity, they can have efficiencies of over 60 percent if the heat they produce is also harnessed, their general effectiveness in converting fuel to energy can be over 80 percent. They are an important technology supporting the world's energy portfolio and are capable of revolutionizing the way nations power their countries, offering cleaner, more effective alternatives for combustion of petrol and other fossil fuels. Because they are energy-efficient, clean and fuel-flexible, fuel cells have the ability to substitute the internal combustion engine in cars and provide energy in stationary and portable energy applications. Fuel cells are currently being created to energy passenger cars, commercial buildings, homes, and even tiny devices like laptops. In a wide range of dimensions (from 1 kW to hundreds of megawatts) fuel cell devices can be highly effective. While combining heat production with power generation, some devices can attain general efficiencies of 80 percent or more. Integrated hydrogen production and storage fuel cell technologies can provide vehicle fuel, heating, and cooling energy, and power to our societies. These clean systems deliver unique power independence opportunities, extremely reliable power services, and financial benefits. Fuel cells are mainly categorized by the type of electrolyte that they use. The type of chemical reactions in the cell, the temperature range in which the cell operates, the catalyst needed, the required fuel and other factors are determined by the type of electrolytes they use. These features, in turn, influence the applications that are most appropriate for these cells. Currently, there are several types of fuel cells under development, each with its own advantages, limitations and potential applications.

Government subsidies and fuel cell programs in Japan and North America, together with increasing demand for effective generation of electricity, are the main drivers of market growth.

Based on type, the market is segmented into planar and tubular. Planar type is expected to dominate the market during the forecast period due to the product offering of the planar type being the most commonly used for the power generation application.

Based on the application, the market is segmented into power generation, combined heat and power, military, and others. The application for power generation dominated the market primarily because of the strong demand for distributed power generation in the North American region for the end-users of commercial & retail and data centers.

Increasing demand for distributed power generation in North America and the Asia Pacific, growing implementation of solid oxide fuel cells in information centers, and the military segment and growth of SOFC hybrid technologies could lead to market opportunities. High capital expenses and competition from other technologies for fuel cells, such as PEMFC, could be a constraint on market growth.

Key Factors Impacting Market Growth:

  • Government subsidies and fuel cell programs

  • Strong demand for distributed power generation

  • Growing implementation of solid oxide fuel cells in information centers

  • High Capital Costs

  • Competition from other technologies for fuel cells, such as PEMFC

Key Development:

  • In August 2016, Nissan Motor Co. Ltd. (Japan) unveiled the world's first prototype car powered by Solid Oxide Fuel Cell (SOFC) running on bioethanol electricity.

  • In December 2018, Ceres Power (UK), a leader in low-cost solid oxide fuel cell company and Weichai Power (China), one of the leading automobile and equipment manufacturing companies in China announced the finalization of their long-term strategic collaboration. This included a joint venture agreement to create a fuel cell manufacturing JV in China, a licensing agreement to transfer key technology to the JV, and a new joint development agreement of £ 9 million. It also triggers a further injection of £ 28 m of equity into Ceres Power.

Regional Outlook:

Major regions for the global solid oxide fuel cell market are estimated to North America, Western Europe, and the Asia Pacific. North America and Western Europe have been traditional markets for the global solid oxide fuel cell market owing to the strong presence of the industrial sector. The industrial sector has been one of the key contributors to the economies in these regions. Major industries in these regions are estimated to be data centers, commercial & retail, auxiliary power unit, others. These industries have an established base resulting in stable market demand. Moreover, most of these industries have been witnessing a transition in terms of product development and production methods. These factors are expected to drive the demand for the global solid oxide fuel cell market in North America and Western Europe region. Major markets by country in these regions include the US, Germany, France, UK, Canada, Spain, and others.

The Asia Pacific and the Middle East region has witnessed tremendous growth in the industrial sector in recent years. Major companies operating in this market have made strategic developments to improve market presence in these regions. In addition to this, some of the fastest-growing economies including China and India have been major markets for various end-use industries including building & construction, automotive, healthcare, manufacturing, and so on. Among these end-user data centers, commercial & retail, auxiliary power unit, others are estimated to register high demand for the global solid oxide fuel cell market during the forecast period. On the other hand, the Middle East region has witnessed diversification in terms of industrial outlook in recent decades. UAE, Saudi Arabia, Qatar, and others have been instrumental in promoting the development of various industries including building & construction, pharmaceuticals, automotive, and so on. This is expected to drive the growth of the global solid oxide fuel cell market directly or indirectly in the region. Eastern Europe consisting of Russia and Turkey promises a stable demand for the global solid oxide fuel cell market during the forecast period. The rest of the World including South America and Africa are estimated to be a developing market with strong potential in the strategic future.

Companies Covered: Bloom Energy, Aisin Seiki, SOLIDpower, Sunfire, UnderSea Sensor Systems, and Atrex Energy, Doosan Fuel Cell America Inc., LG Fuel Cell Systems Inc., Fuel Cell Energy, SOFCMAN Energy Technology Co. Ltd., Posco Energy, Hexis AG, and Huaqing New Energy.

Market Segmentation:

By Type:

  • Planar

  • Tubular

By Application:

  • Power Generation

  • Combined Heat & Power

  • Military

  • Others

By End User:

  • Data Centers

  • Commercial & Retail

  • Auxiliary Power unit

  • Others

By Region:

  • North America

    • By Country (US, Canada, Mexico)

    • By Type

    • By Application

    • By End-User

  • Western Europe:

    • By Country (Germany, UK, France, Spain, Rest of Western Europe)

    • By Type

    • By Application

    • By End-User

  • Eastern Europe:

    • By Country (Russia, Turkey, Rest of Eastern Europe)

    • By Type

    • By Application

    • By End-User

  • Asia Pacific

    • By Country (China, Japan, India, Rest of Asia Pacific)

    • By Type

    • By Application

    • By End User

  • Middle East:

    • By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)

    • By Type

    • By Application

    • By End-User

  • Rest of the World

    • By Region (Latin America, Brazil, Rest of the World)

    • By Type

    • By Application

    • By End-User

Reasons To Buy This Report:

  • Market size estimation of the global solid oxide fuel cells market on a regional and global basis

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  • Profiling of major companies operating in the market with key developments

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