Planar Solid Oxide Fuel Cell (SOFC) Market is Projected to Reach A Value of $ 639.2 Million in 2020

Date: 2015-09-09

“This report estimates the planar solid oxide fuel cell (SOFC) market, in terms of value ($million). The estimated value of the market for planar SOFC is around $ 362.0 million in 2015 and projected to grow to reach a value of $ 639.2 million in 2020.The market has been broken down into regions, further split to country level forecasting.

An SOFC is a converter technology that produces electricity directly from the electrochemical oxidation. It uses an electrochemical conversion process, in which an electrolyte material is used to convert negative oxygen ions to the anode from the cathode. SOFC has a wide variety of applications, from auxiliary power units in vehicles to stationary power generation, with outputs from 100 W to 2 MW.
The market is also segmented on the basis of application as follows:

• Portable: Portable fuel cells refer to fuel cell units which are designed to be stimulated. They include fuel cell APU and consumer electronics 

• Stationary: Stationary fuel cells refer to fuel cell units which are designed to provide power at a fixed location. These include small and large stationary prime power, backup/uninterruptible power supplies, combined heat and power, and combined cooling and power

• Transportation: Transportation fuel cells refer to fuel cell units that provide propulsive power or range extender function to vehicles, including UAV, cars, buses, and material-handling vehicles

Some of the key companies profiled include Aisin Seiki Corporation Limited (Japan), Delphi (U.S.), Ultra Electronics AMI (U.K.), Fuel Cell Energy (Houston, U.S.), Ceramic Fuel Cells Limited (Australia), and Ceres Power Holdings (U.K.).

Asia-Pacific leads the planar SOFC market. It holds the largest market share and is projected to grow at the highest CAGR. This growth is attributed to the high adoption level of the technology in countries such as Japan and South Korea at a commercial level. Market opportunities exist in the form of stationary power generation technologies based on planar SOFC in developed regions such as North America and Europe.

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