As per the research, the global planar solid oxide fuel cell market is likely to grow from $379.9 million in 2015 to $804.9 million by 2022. With the increasing need for high electrical efficiency, growing utilization of biomass, and rising applications in the military, transportation and small stationary sectors, the global market for planar solid oxide fuel cell is expected to witness a robust pace during the forecast period. Solid oxide fuel cell is an energy-efficient process that converts the fuel into electricity through either combustion or integrated gasification combined cycle, thereby ensuring the removal of CO2 from exhaust streams. The demand for planar solid oxide fuel cell is expected to grow at a steady rate in North America and Europe during the forecast period due to the increasing demand for alternative electric power generation technologies and growing preference towards distributed power generation.
Geographically, Asia-Pacific was the largest market for planar solid oxide fuel cell, where Japan was the largest contributor to the regional market. U.S. was the major market for planar solid oxide fuel cell in North America, whereas in Europe, Germany generated the highest revenue. Rest of the World (RoW) includes Latin American and Middle East and African countries. Brazil was the largest market for planar solid oxide fuel cell in the RoW.
The growth of global planar solid oxide fuel cell market is affected by elongated operational start-up time and high investment and operational cost, which is expected to have a negative impact on the planar solid oxide fuel cell in the short-term; however, the developments and technological advancements are expected to offset the impact of such factors with having a moderate impact in long term.
Make enquiry before purchase at: https://www.psmarketresearch.com/send-enquiry?enquiry-url=planar-solid-oxide-fuel-cell-market
Major players have stronghold in the global planar solid oxide fuel cell market
Some of the key players in the global market for planar solid oxide fuel cell include FuelCell Energy, Inc., Aisin Seiki Co., Ltd., Ultra Electronics Holdings plc, Ceres Power Holdings plc, Ballard Power Systems Inc., SOLIDpower S.p.a, Convion Ltd., Delphi Automotive PLC., and Chevron Corporation.
GLOBAL PLANAR SOLID OXIDE FUEL CELL MARKET SEGMENTATION
- Planar cells
- Separator plates
- South Korea
- Rest of Asia-Pacific
- North America
- Rest of North America
- Rest of Europe
- Rest of the World (R0W)
- South Africa
- Rest of RoW