The global Planar Solid Oxide Fuel Cell Market was valued $4 Bn in 2017 and is anticipated to reach $7 Bn by 2026 at a CAGR of about 7.25 % during the forecast period.
Segmentation of the Global Planar Solid Oxide Fuel Cell Market is based on component, application, and region.
Based on component, the Global planar solid oxide fuel cell market can be classified into planar cells, separator plates, manifolds, seals. In terms of application, the Global planar solid oxide fuel cell market can be fragmented into Stationary, Transportation, and Portable. By region, Global planar solid oxide fuel cell market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Preference for renewable and cost-effective solutions in place of traditional energy sources is the factor boosting the demand for a planar solid oxide fuel cell. Government subventions for the fuel cell in developed economies such as North America, Japan, and Europe alongside with growing demand for efficient power generation are the driving factors for growth in the planar solid oxide fuel cell market. High capital cost hampers growth in the planar solid oxide fuel cell market.
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Global Planar Solid Oxide Fuel Cell Market
Based on Application, Stationary power segment is expected to dominate the highest growth in the global planar solid oxide fuel cell market. Stationary power segment produces energy with the possibility of accompanying heat from a source, which cannot be moved. Stationary solid oxide fuel cell power plants are the stack module containing the solid oxide fuel cell stack comprehensive and the related peripherals.
In terms of region, Europe is projected to have substantial growth in the Global Planar Solid Oxide Fuel Cell Market during the forecast period. This growth can be attributed to the increasing need for substitute electric power generation technologies and snowballing predilection towards dispersed power generation. Asia-Pacific is expected to dominate the growth in Global Planar Solid Oxide Fuel Cell Market due to increasing demand for substitute electric power generation technologies and associated spending on the expansion of planar SOFC technology.
Key players profiled and analyzed in Global planar solid oxide fuel cell market are
Bloom Energy, Aisin Seiki, SOLIDpower, Sunfire, UnderSea Sensor Systems, Atrex Energy, WATT Fuel Cell, Hexis, Convion, Ultra Electronics Holding plc, Ceres Power Holdings plc, The Ballerd Power System, Chevron Corporation, Delphi Automotive plc, Protonex Technology Corporation, and Ceramic Fuel Cell.
Scope of the report for Global Planar Solid Oxide Fuel Cell Market: