Solid Oxide Fuel Cell Market to Reach $2,881 Million by 2025 | Bloom Energy, Ceres Power, Mitsubishi Power, Aisin Seiki Co, Hitachi Zosen

 According to the new market research report "Solid Oxide Fuel Cell Market by Type (Planar & Tubular), Application (Portable, Stationary, & Transport), End User (Power Generation, Hydrogen Generation, Automotive, and Others), and Region - Global Forecasts to 2025", published by MarketsandMarkets™, the global Solid Oxide Fuel Cell Market size is expected to grow from estimated revenue of USD 772 million in 2020 to USD 2,881 million by 2025, at a CAGR of 30.1%. The key drivers for the Solid Oxide Fuel Cell Market include government subsidies and increased R&D on fuel cell programs; fuel flexibility and increasing demand for energy-efficient power generation and stringent emission norms in Europe & North America leading to demand for clean energy sources. The market is segmented by type, application, end user, and region.

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The planar segment is estimated to have the largest contribution in the Solid Oxide Fuel Cell Market, by type

The market is segmented, by type, into planar and tubular type solid oxide fuel cell. The planar segment is estimated to lead the market in terms of market size; however, the tubular segment is expected to be the fastest-growing market. The growth of the planar segment is mainly because of its the simple geometry and relatively easier construction process.

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64 – Tables

46 – Figures

165 – Pages

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The stationary segment is estimated to have the largest contribution in the Solid Oxide Fuel Cell Market, by application

The market is segmented, by application, into portable, stationary and transport application solid oxide fuel cell. The stationary segment is estimated to lead the market in terms of market size and is even expected to be the fastest-growing market. The growth of the stationary segment is driven by the increasing focus on hydrogen-powered fuel cells for back-up power.

Power generation: The largest end user segment of the Solid Oxide Fuel Cell Market

The market is segmented, by end-user, into power generation, automotive, hydrogen generation, and others. The power generation segment accounted for the largest Solid Oxide Fuel Cell Market share in 2019. Increased demand for clean energy generation is expected to drive the market. Power generation refers to distributed power generation solutions and remote and backup power solutions for residential, commercial, and industrial uses such as residential complexes, retail outlets, commercial offices, data centers, and telecom towers. The reason for the large market share of this segment is the dominance of Bloom Energy in the SOFC market, where it provides distributed power generation solutions primarily in the US, as well as other countries, such as South Korea, Japan, and India.

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North America is expected to dominate the global Solid Oxide Fuel Cell Market

North America was the largest solid oxide fuel cell industry in 2019, driven mainly by activities in the US and Canada. The growth in the US country can be attributed to the high demand for fuel cell power generation, as well as increasing research and development for hydrogen generation. In addition, government policies and subsidies, including the Department of Energy's (DoE's) Solid State Energy Conversion Alliance (SECA) Program, are the prime driving factors for growth in the US market. Asia Pacific is the second-largest market, following North America closely.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top manufacturers in the Solid Oxide Fuel Cell Market. These players include Bloom Energy (US), Ceres Power (UK), Mitsubishi Power (Japan), Aisin Seiki Co (Japan), and Hitachi Zosen (Japan).

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Fuel Cells Market by Type (Proton Exchange Membrane Fuel Cell, Phosphoric Acid Fuel Cell, Alkaline Fuel Cell, Microbial Fuel Cell), Application (Transport, Stationary, Portable), End-User, Region - Global Forecast to 2025

https://www.marketsandmarkets.com/Market-Reports/fuel-cell-market-348.html 

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Fuel Cells Market Analysis Of Opportunities Offered By High Growth Economies

According to the new market research report "Fuel Cells Market by Type (Proton Exchange Membrane Fuel Cell, Phosphoric Acid Fuel Cell, Alkaline Fuel Cell, Microbial Fuel Cell), Application (Transport, Stationary, Portable), End-User, Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Fuel Cells Market size is expected to grow from an estimated value of USD 263 million in 2020 to USD 848 million by 2025, at a CAGR of 26.4%, from 2020 to 2025. The market has been analyzed with key focus on advancements in fuel cell technologies such as PEMFC, PAFC, AFC, and MFC. The global market is set to witness significant growth owing to the rising demand for clean energy generation methods in developed regions and the emphasis on reducing carbon emissions from vehicles across all the major countries over the next few years.

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The transport segment is expected to hold the largest share of the Fuel Cells Market, by application, during the forecast period

The transport segment includes fuel cell-powered cars, heavy-duty trucks, buses, and trains in vehicles operated on land in fuel cell technology. This segment is expected to hold the major share in 2020 owing to the widespread adoption of low carbon-emitting transportation modes, such as fuel cell-powered cars, fuel cell-based public transport, and heavy-duty trucks & buses.

Advances in fuel cell technology in the transport sector is used mainly in end-users, such as marine vehicles, fuel cell cars, and Unmanned Aerial Vehicles (UAVs). The Asia Pacific is the largest transport advance in fuel cell technology market because of the rapid adoption of fuel cell-based transportation in countries such as China, Japan, and South Korea. All these factors are expected to boost the low voltage market growth.

Fuel cell vehicles to account for the largest advances in fuel cell technology market share, by the end-user, during the forecast period

The fuel cell vehicles segment held the largest share of the market in 2018. A fuel cell is the most important component of a fuel cell-powered vehicle that offers the primary propulsion power or acts as a range extender for battery-operated vehicles. The increase in the flexibility, efficiency, and reliability of fuel cells, and the need for reducing carbon emissions from heavy-duty vehicles has led to the rising demand for fuel cells in the advances in fuel cell technology industry.

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187 – Tables 
40 – Figures
217 – Pages

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Proton Exchange Membrane Fuel Cell (PEMFC) is expected to be the fastest-growing type of the Fuel Cells Market

Fuel cell-powered vehicles are majorly dependent on proton membrane exchange fuel cells (PEMFC). The fuel cell vehicles market is likely to increase exponentially during the forecast duration, and an increase in this market directly corresponds to the enhanced need for PEMFCT during the forecast period in regions such as Asia Pacific, Europe, and North America.

Asia Pacific is expected to dominate the global Fuel Cells Market

Asia Pacific is expected to dominate the global market owing to the increasing focus on reducing carbon emissions by generating electrical energy and propulsion power by clean sources such as fuel cells in the region. China is expected to dominate the Asia Pacific advances in fuel cell technology industry. The market in countries such as China, South Korea, and Japan are expected to grow at high rates. Increasing renewable power generation and cleaner operating vehicles in these countries are the main reasons for spurring the growth of the market.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Fuel Cells Market. These include Ballard Power (Canada), Cummins (US), SFC Energy (Germany), Plug Power (US), Fuel Cell Energy (US), and Bloom Energy (US). The leading players are trying to establish themselves in the markets in developing economies and are adopting various strategies to increase their respective market share.

Browse Adjacent Markets: Energy and Power Market Research Reports & Consulting

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Solid Oxide Fuel Cell Market by Type (Planar and Tubular), Application (Power Generation, Combined Heat & Power, and Military), End-Use (Data Centers, Commercial & Retail, and APU), Region (North America, Asia Pacific, and Europe) - Global Forecast to 2025

https://www.marketsandmarkets.com/Market-Reports/solid-oxide-fuel-cell-market-39365796.html

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
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Email: newsletter@marketsandmarkets.com

Marine Engines Market 2020 Future Growth Explored in Latest Research Report by 2025

According to the new market research report "Marine Engines Market by Power (<1, 1-5, 5-10, 10-20 & >20) 000 hp, Vessel (Commercial, Offshore), Fuel (Heavy, Intermediate, Marine Diesel and Gas Oil), Engine (Propulsion & Auxiliary), Type, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Marine Engines Market is projected to grow from USD 11.8 billion in 2020 to USD 13.7 billion by 2025; it is expected to grow at a CAGR of 3.1% from 2020 to 2025. The key factors driving the growth of the marine engine market include growth in international marine freight transport, growth in maritime tourism, and increasing adoption of smart engines for situational awareness and safety.

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The heavy fuel oil segment is expected to dominate the Marine Engines Market, by fuel, during the forecast period.

The heavy fuel oil segment is expected to lead the Marine Engines Market from 2020 to 2025. Heavy fuel oil is the commonly used fuel for marine engines across the globe. Inspite of the stringent emission controls and revisions in IMO standards, the demand for heavy fuel oil marine engines is expected to be the largest among all segments.

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188 – Tables
51 – Figures  
224 – Pages

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The propulsion engine segment is expected to be the fastest-growing Marine Engines Market, by engine, during the forecast period.

The propulsion engine segment, by engine, in Marine Engines Market is estimated to grow at the fastest rate during the forecast period. Propulsion engines are the main engines of ships, providing thrust and power to move and sail the oceans. Marine propulsion engines are a very important asset of ships as they are the prime mover of the ship. Thus, the demand for propulsion engines across various engine types is expected to increase with the increased demand for marine engines.

Asia Pacific likely to emerge as the largest Marine Engines Market

In this report, the Marine Engines Market has been analyzed for five regions, namely, Asia Pacific, North America, Europe, Middle East & Africa, and South America. Asia Pacific is estimated to be the largest market for marine engines during the forecast period. Asia Pacific is global leader in shipbuilding industry both in terms of exports and imports. It is considered to be a lucrative region for maritime trade. Countries such as China, Japan, and South Korea are considered as the main manufacturing hubs for marine engines. Over the past few years, this region has witnessed rapid economic development as well as the growth of the manufacturing and energy sectors, thereby resulting in an increase in the maritime trade. The rise in seaborne trade has subsequently led to an increase in demand for ships that are used to transport manufactured goods to various regions worldwide.

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To enable an in-depth understanding of the competitive landscape, the report includes some of the top players in the Marine Engines Market. Some of the key players are Hyundai Heavy Industries (South Korea), Caterpillar (US), MAN SE (Germany), Mitsubishi Heavy Industries (Japan), and Volvo Penta (Sweden). The leading players are adopting various strategies to increase their share in the Marine Engines Market.

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Marine Gensets Market by Vessel type (Commercial vessel, Defense vessel, & Offshore vessels), Fuel (Diesel fuel, Gas fuel, & Hybrid fuel), Rating (less than 1,000kW, 1,001-3,000 kW, 3,001-10,000kW & more than 10,000kW) & Region - Global Forecast to 2021
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About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com