What is Solid State Oxygen Fuel Cell Market?
A solid oxide fuel cell is defined as the electrochemical conversion device which helps to produce electricity directly from oxidizing a fuel. It is also known as SOFC. Some of the major advantages of using fuel cells are fuel flexibility, long-term stability, high combined heat and power efficiency, low emissions, relatively low cost, and others. Increasing usage of the solid-state oxygen fuel cell in various application such as power generation, combined heat & power, and military are some of the factors which affect the growth of the market in the future.
The market study is being classified, by Application (Trains, Ships, Vehicles and Others) and major geographies with country level break-up.
Aisin Seiki Co., Ltd. (Japan), Bloom Energy (United States), Convion Fuel Cell Systems (Finland), Ceres Power Holdings (United Kingdom), FuelCell Energy, Inc. (United States), Hexis S.A. (France), Solid Power, Inc. (United States), Sunfire (United States), Protonex (United States) and Watt Fuel Cell Corporation (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are General Electric (United States), Elcogen AS (Estonia), Ztek Corporation (United States), Ultra Undersea Sensor Systems (United Kingdom) and Atrex Energy (United States).
Industry players operational in the solid-state oxygen fuel cell industry include Aisin Seiki Co., Ltd. (Japan), Bloom Energy (United States), Convion Fuel Cell Systems (Finland), Ceres Power Holdings (United Kingdom), FuelCell Energy, Inc. (United States), among others. These players are adopting strategies such as product launch, partnerships and acquisitions to garner higher market share and sustain market competition. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Solid State Oxygen Fuel Cell market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Solid State Oxygen Fuel Cell market by Type, Application and Region.
On the basis of geography, the market of Solid State Oxygen Fuel Cell has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Usage of Solid State Oxygen Fuel Cell in Various Application
- Rising Demand from Power Generation Sector
Market Trend
- Technology Advanced regarding Solid State Oxygen Fuel Cell
Restraints
- Stringent Rules as well as Regulation
Opportunities
- Growing Demand from Emerging Market such as China and India
Challenges
- Issue related to High Operating Temperature Which Results in Longer Start-Up Times
Key Target Audience
Manufacturers of Solid State Oxygen Fuel Cell, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others