Solid Oxide Fuel Cell Market to Witness Tremendous Growth by Bloom Energy, Aisin Seiki, SOLIDpower, Sunfire, UnderSea Sensor Systems
The Global Solid Oxide Fuel Cell Market 2032 Industry Report is a professional and in-depth study on the current state of the Solid Oxide Fuel Cell Market by QMI. The Solid Oxide Fuel Cell Market is supposed to demonstrate a considerable growth during the forecast period of 2023-2032. The company profiles of all the key players and brands that are dominating the market have been given in this report. Their moves like product launches, joint ventures, mergers and acquisitions and the respective effect on the sales, import, export, revenue and CAGR values have been studied completely in the report.
An Electrochemical device known as a solid oxide fuel cell is used in a variety of industries to produce electricity through the oxidation of fuel. To conduct the ions between the cell’s cathode and anode, these devices incorporate ceramic or solid metal oxides as electrolytes. The systems can also produce the best output when using a variety of fuels, including hydrogen, natural gas, propane, among other clean fuels, as well as mixtures. They are also made to withstand high operating temperatures.
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Impact Factors of Solid Oxide Fuel Cell Market:
• 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
Recent Developments of Solid Oxide Fuel Cell Market:
• The Hydrogen Energy Server, which can provide on-site electricity powered entirely by hydrogen and uses solid oxide stacks, was introduced by Bloom Energy in September 2021. These electrolyers are anticipated to start shipping commercially in 2022. Together with SK Ecoplant, these servers were put through a five-month test period in Ulsan (South Korea) (South Korea)
• To strengthen their advanced research business, Aisin Corporation and Aisin AW, both members of the Aisin Group, planned to integrate their management in August 2020. Due to this integration’s improvement of connected projects’ and resources’ efficiency, an agile research structure was produced.
• Mitsubishi Power and Asahi Quality & Innovations, Ltd., in August 2020, signed a contract for the delivery of MEGAMIE solid oxide fuel cell (SOFC) systems for a demonstration project. The Low Carbon Technology Research, Development, and Demonstration Program of the Japanese government includes this project. Under this project, Asahi Quality & Innovations, Ltd., carried out tests to produce electricity from small SOFC units using the biogas produced by the wastewater from the Ibaraki Brewery. The tests revealed that the system, which was rated at 200 kW, produced power continuously for 10,000 hours. It provided approximately 1,600 MWh of electricity while reducing CO2 emissions by 1,000 tonnes annually. Sumitomo Mitsui Finance and Leasing Co., Ltd. used a lease plan to pay for this project.
• Hitachi made an investment in the creation of a multi-resource platform for hydrogen in November 2021. which will see Hitachi create a SOFC hybrid cogeneration system.
• To jointly search for opportunities in China, CERES, Weichai, and Bosch decided to form a collaboration in February 2022. There will be two separate joint venture agreements. A three-way system joint venture (a “System JV”) for the development and production of solid oxide fuel cell (SOFC) systems will be the first one. The “Stack JV,” a second joint venture, will be established to provide fuel cell stacks to the “System JV” and perhaps other third parties.
• To find the best ways to use SOFC technology in megawatt cruise ships, CERES invested in two projects in September 2021. The United Kingdom Department of Transport received the funding.
• 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.
• 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.
Segmentations Covered in the Report:
Detailed segmentation by area (country), business, type, and application are included in the Solid Oxide Fuel Cell market research analysis. The research offers comprehensive details on new products, regional investments, and market investments. The Solid Oxide Fuel Cell market research report also monitors emerging technologies and trends. The most recent market dynamics, including motivating and inhibiting factors, as well as business news like mergers and acquisitions and investments, are also included in the study. This analysis of current market trends from 2023 to 2032 is provided for each of the sub-segments.
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)
The Key Players in this Market are: 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.
Regional Overview:
North America (The US, Canada, and Mexico)
Asia-Pacific (Japan, China, India, South Korea, Indonesia, Australia, Rest of Asia Pacific)
Europe (Germany, UK, Italy, Russia, Spain, The Netherlands France, Rest of Europe)
South America (Brazil, Argentina, Columbia, Rest of South America)
Middle East & Africa (United Arab Emirates, Saudi Arabia, South Africa, Rest of Middle East & Africa)
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Reasons for Buying Solid Oxide Fuel Cell Market Report:
– This report gives a forward-looking prospect of various factors driving or restraining market growth.
– It renders an in-depth analysis for changing competitive dynamics.
– It presents a detailed analysis of changing competition dynamics and puts you ahead of competitors.
– It gives a ten-year forecast evaluated on the basis of how the market is predicted to grow.
– It assists in making informed business decisions by performing a pin-point analysis of market segments and by having complete insights of the Solid Oxide Fuel Cell Market.
– This report helps the readers understand key product segments and their future.
– From 2015 to 2023, All Recent Developments have been covered in this Report.
The Research study can answer the following Key questions:
- What will be the progress rate of the Solid Oxide Fuel Cell Market for the conjecture period, 2032?
- What are the prominent factors driving the Solid Oxide Fuel Cell Market across different regions?
- Who are the major vendors dominating the Solid Oxide Fuel Cell industry and what are their winning strategies?
- What will be the market scope for the estimated period?
- What are the major trends shaping the expansion of the industry in the coming years?
- What are the challenges faced by the Solid Oxide Fuel Cell Market?
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