Find Out More About Solid Oxide Fuel Cells Market Global Growth With Rising CAGR And Forecast Till 2025|Grand View Research, Inc.

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.
Some of the major businesses in the U.S. such as Coca-Cola, Bank of America, eBay, Google, and Walmart have announced plans to adopt solid oxide fuel cell for consumption.

Browse Research Report On Solid Oxide Fuel Cells Market:
https://www.grandviewresearch.com/industry-analysis/solid-oxide-fuel-cells-market

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.
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
  • Asia Pacific was the largest consumer of solid oxide fuel cell in 2016, in terms of units, closely followed by North America
  • 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
  • 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
SOFCs have significant growth opportunities in the residential as well as the commercial sectors. In the U.S., stationary SOFCs are widely used in data centres and as a power source for various other commercial purposes. Stationary solid oxide fuel cells are also finding a potential market in military applications.

Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-solid-oxide-fuel-cells-sofc-market

Grand View Research has segmented the global solid oxide fuel cell market on the basis of application:
Application Outlook (Volume, Units; Capacity, Kw; Revenue, USD Thousand; 2014 - 2025)
  • Stationary
    • Distributed Energy Generation
      • Residential Application
      • Commercial Application
      • Natural Gas Compression Station
      • Data Centers
      • Military & Defense Application
      • Grid Support
      • Industrial
      • Remote Application
      • Others
    • EPS/UPS
  • Transportation
  • Portable
About Grand View Research
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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Comments

Post a Comment

Popular posts from this blog

Vertical Farming Market Growth On The Basis Of Type, Application, Region & Forecast To 2030: Grand View Research Inc.

Image
  The vertical farming market is witnessing significant advancements, marked by the adoption of innovative technologies, including sensors and cameras, to increase yields and enhance resource efficiency. Vertical farming efficiently addresses the challenges of limited space and environmental constraints. It offers a reliable solution by ensuring stable crop production, even during unfavorable weather conditions. Compared to traditional farming methods, vertical farming provides numerous advantages, including reduced water usage, decreased reliance on agrochemicals, and decreased dependency on agricultural labor. As a result, vertical farming is emerging as a promising alternative to meet the growing needs of urban populations. The ABCs of Vertical Farming: Key Components ·          Hardware: Vertical farming relies on various hardware components and systems to create the ideal environment for plants to grow optimally. The hardware components include: o    Lighting: Lighting in
Read more

Clinical Diagnostics Market Segment Analysis By Size, Share & Trends Analysis Report By Application, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2019 To 2025

Image
  San Francisco, 12 June 2024:  The Report Clinical Diagnostics Market Size, Share & Trends Analysis Report By Application, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2019 To 2025 The clinical diagnostics market, like many other businesses, is entering the Industry 4.0 revolution. The advent of digitalization, automation, and robotization has helped develop highly flexible smart laboratories. These labs can manage both high-volume/routine analyses and highly customized analyses at reasonable prices. Clinical laboratories are required to have exceptional flexibility to adapt quickly to persistent shifts and unpredictable new environments. Mentioned below are the 5 key trends that are helping the clinical diagnostics industry survive in a dynamic environment: Integration of Automation Technologies in Genomics Over the years, the accuracy of genome sequencing has radically improved. Furthermore, sequencing and library preparation platforms are n
Read more

Satellite Payload Market Growth On The Basis Of Type, Application, Region & Forecast To 2025: Grand View Research Inc.

  San Francisco, 10 June 2024:  The Report Satellite Payloads Market Size, Share & Trends Analysis Report By Orbit (LEO, MEO, GEO), By Application (Communication & Navigation, Remote Sensing, Surveillance), By End Use, By Region, And Segment Forecasts, 2018 - 2025 The global satellite payloads market size is expected to reach USD 21.8 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 7.9% over the forecast period, owing to Increased government spending in space exploration activities is expected to boost the market growth over the forecast period. The growing popularity of communication and broadcasting services including pay TV and Over-The-Top (OTT) have led providers to develop advanced payload systems. Moreover, the increased penetration of payloads in the commercial sector is expected to propel the market demand. The market is expected to witness significant growth as there has been a great rise in t
Read more