Asia Pacific Solid Oxide Fuel Cells Market growth to Grow with a robust CAGR through to 2028
Medium- and Long-term goals for decarbonizing the
economy and accelerating the implementation of breakthrough zero-emission
technologies are expected to drive the Asia Pacific Solid Oxide Fuel Cells
Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Asia Pacific
Solid Oxide Fuel Cells Market - By Country, Competition, Forecast and
Opportunities, 2018-2028”, the Asia Pacific Solid Oxide Fuel Cells Market is
expected to register a robust during the forecast period, 2024-2028. The market
growth of feed acidifiers is primarily driven by key factors, including
increasing government subsidies and fuel cell programs in Japan and other Asian
countries. Additionally, the demand for clean energy sources, driven by more
stringent emission norms and rising awareness about alternative sources of
energy, has further propelled the market. The higher electrical efficiency rate
of SOFCs, coupled with the rising potential of the technology in developing
economies, has also contributed to the market expansion. Government authorities
across the globe play a significant role in driving the feed acidifiers market,
alongside other factors. Furthermore, the solid oxide fuel cell market is
expected to witness new opportunities through increasing distributed power
generation, rising adoption by end-users in data centers and the military
sector, and the development of hybrid-SOFC technologies. The Asia Pacific region is actively working to
transition to cleaner and more sustainable energy sources to reduce greenhouse
gas emissions and combat climate change. SOFCs, with their low emissions and
high efficiency, present a significant opportunity to contribute to this
transition. Governments and businesses can invest in SOFC technology to meet
emissions reduction targets and promote environmentally friendly energy
generation.
Browse over XX market data Figures spread
through 135 Pages and an in-depth TOC on "Asia Pacific Solid Oxide Fuel Cells Market”
Based on type, Planar segment has emerged as the
predominant market leader. Solid Oxide Fuel Cells (SOFCs) find applications in
portable power generation, such as backup power systems, remote power
generation, and military applications. This segment addresses the need for
reliable power in off-grid or remote locations. Additionally, SOFCs are
utilized in residential homes and commercial buildings for electricity and heat
generation, catering to the growing demand for distributed energy solutions.
Furthermore, the automotive industry is witnessing the rise of Fuel Cell
Electric Vehicles (FCEVs) powered by SOFCs, attracting automakers and companies
involved in fuel cell vehicle and infrastructure development. Hydrogen-powered SOFCs
are also gaining prominence as countries invest in hydrogen production and
distribution infrastructure, aligning with the hydrogen economy trend.
Moreover, SOFCs can be adapted to various fuels such as propane, methanol, and
ammonia, exploring alternative fuel sources and their applicability. South
Korea emerges as a key player in SOFC technology development, especially in the
transportation sector, offering collaboration opportunities and market
expansion. Additionally, emerging economies and markets in Southeast Asia,
Australia, and India are increasingly adopting SOFC technology for various
applications, presenting significant growth potential in these regions.
Based on application, Transportation segment is
expected to grow during the forecast period. SOFCs can also be integrated into
trains, particularly in regions with extensive rail networks. In the Asia
Pacific region, numerous companies and research institutions actively
participated in the development and deployment of SOFCs for transportation.
Notable players in this field include Bloom Energy, Mitsubishi Power, and
Hitachi. Additionally, SOFCs are capable of utilizing a variety of fuels such
as natural gas, hydrogen, and biofuels, making them highly adaptable to
regional fuel availability. Furthermore, the quiet operation of SOFCs compared
to traditional internal combustion engines makes them well-suited for urban
transportation, addressing concerns regarding noise pollution.
Major companies operating in Asia Pacific Solid Oxide
Fuel Cells Market are:
- Bloom Energy
- FuelCell Energy
- Toshiba Energy Systems & Solutions
Corporation
- Mitsubishi Power
- Kyocera Corporation
- JX Nippon Oil & Energy Corporation
- Doosan Fuel Cell
- Panasonic Corporation
- Neatec Solutions
- Hexis AG
Download Free Sample Report
Customers can also request for 10% free customization
on this report.
“China is expected to dominate the market during the
forecast period. China encounters substantial environmental challenges, encompassing air pollution
and greenhouse gas emissions. Solid Oxide Fuel Cells (SOFCs), owing to their
low emissions profile and high efficiency, are in harmony with the country's
environmental objectives. They present an opportunity to diminish pollution,
enhance air quality, and alleviate the environmental repercussions of energy
generation.,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Asia
Pacific Solid Oxide Fuel Cells Market By Type (Planar and Tubular), By
Application (Stationary, Transportation and Portable), By End User (Commercial,
Data Centers, Military & Defense and Others), By Country, By Competition
Forecast & Opportunities, 2018-2028”, has evaluated the future
growth potential of Asia Pacific Solid Oxide Fuel Cells Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Asia Pacific Solid Oxide Fuel Cells Market.
Contact
Mr. Ken
Mathews
708 Third
Avenue,
Manhattan, NY,
New York –
10017
Tel:
+1-646-360-1656
Email: [email protected]
Website: www.techsciresearch.com