Global Solid Oxide Fuel Cells To Expand At 9.73% CAGR, Advancement In Technology To Drive Growth: Latest Press Release UpdateMarch 1, 2016
MarketResearchReports has announced the addition of a new research report that presents a comprehensive overview of the global market for solid oxide fuel cell market. The research study evaluates the performance of this market, taking its growth prospects into consideration.
The research report, titled “Global Solid Oxide Fuel Cell Market 2016-2020,” provides an in-depth assessment of the worldwide market for solid oxide fuel cells covering various market verticals such as the production volume, product pricing, the dynamics of demand and supply, as well as the growth rate.
According to the market study, the advancement in technology has propelled the global market for solid oxide fuel cells significantly over the last few years. In addition to this, the extensive demand for solid oxide fuel cells due to the flexibility in utilization these cells offer, is expected to drive the growth of this market in the coming years.
On the flip side, the worldwide solid oxide fuel cell market is anticipated to face a severe challenge from the increasing competition from alternate technologies, notes the market study. Analysts have projected this market to rise at a CAGR of 9.78% during the period from 2016 to 2020.
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The rapid commercialization of hybrid solid oxide fuel cells is another important factor listed in this research report that is expected to drive the global solid oxide fuel cell market over the forecast period.
The research report analyses the worldwide market for solid oxide fuel cells on the basis of application and the regional spread of this market. According to the report, transport, portable products, and stationary products are the major application areas for solid oxide fuel cells.
Among these, the stationary products segment is likely to occupy a market share of approximately 78% by the end of the forecast period. The heightened usage of solid oxide fuel cells as a primary as well as a backup power generator for electronic devices in the commercial and residential sectors is projected to drive the market growth over the forecast period, states the research study.
Further, regionally the research report segments the global solid oxide fuel cell market into the Americas, Europe, and Asia Pacific.
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The competitive landscape of the global solid oxide fuel cell market has also been studied in this research report. As per the study, Bloom Energy, Aisin, FuelCell Energy, Redox Power systems, Acumentrics, and Protonex are some of the key vendors in this market.
Other major market players mentioned in this report are Mitsubishi Heavy Industries, Delphi, LG Fuel Cell Systems, GE, Ceramic Fuel Cells, Ceres Power Holdings, Toshiba, Panasonic, Ultra Electronics AMI, and Kyocera.
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