Solid Oxide Fuel Cell Market Projected to Hit $6.5 Billion by 2027, at a CAGR of 33.9%

 According to the new market research report "Solid Oxide Fuel Cell Market by Type (Planar & Tubular), Application (Portable, Stationary, & Transport), End User (Commercial & Industrial, Data Centers, Military & Defense, and Residential ) and Region - Global Forecasts to 2027", published by MarketsandMarkets™, the Solid Oxide Fuel Cell Market size will grow to USD 6.5 billion by 2027 from USD 1.5 billion in 2022, at a CAGR of 33.9 % during the forecast period. Government subsidies and increased R&D on fuel cell programs; fuel flexibility and increasing demand for energy-efficient power generation and stringent emission norms are likely to drive the Solid Oxide Fuel Cell Market. Rising distributed power generations applications across regions and increasing adaptivity by end users in data centers and military sectors will be the main opportunities growing in market. Asia Pacific is estimated to be the largest market from 2022 to 2027 and is expected to see a high demand for solid oxide fuel cell due to the high demand for fuel cell power generation, as well as increasing research and development for hydrogen generation. The region faces a tough challenge to reduce its carbon footprint from various fossil-fuel-powered operations, including power generation. Asia Pacific is one of the leading markets that has adopted green technologies to meet the targets set by the governments for reducing GHG emissions. Furthermore, countries such as Japan and South Korea are increasing their investments to adopt SOFC technology.

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The planar segment is expected to dominate the Solid Oxide Fuel Cell Market, by product type, during the forecast period.

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.

The stationary segment is expected to be the largest Solid Oxide Fuel Cell Market, by application, during the forecast period.

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.

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178 – Tables

52 – Figures  

237 – Pages

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Commercial & industrial segment is expected to be the largest Solid Oxide Fuel Cell Market, by end-user industry, during the forecast period.

The market is segmented, by end-user, into commercial & industrial, data centers, military & defense, and residentials. The commercial & industrial segment accounted for the largest Solid Oxide Fuel Cell Market share in 2021. Increased demand for clean energy generation is expected to drive the market. The commercial and industrial segment held a 42.8% share in 2021 of the global solid oxide fuel cells market. Commercial and industrial end users include hospitals, hotels, shopping center malls, office buildings, sports centers, transportation and various others industrial facilities.

Asia Pacific is expected to dominate the global Solid Oxide Fuel Cell Market, during the forecast period

Asia Pacific accounted for a 45.5% share of the Solid Oxide Fuel Cell Market in 2021 and is expected to growth with a CAGR of 37.1% in the forecast period. The region has been segmented, by country, into Japan, China, South Korea and Rest of Asia Pacific. The Rest of Asia Pacific includes Australia, and India. The region faces a tough challenge to reduce its carbon footprint from various fossil-fuel-powered operations, including power generation. Asia Pacific is one of the leading markets that has adopted green technologies to meet the targets set by the governments for reducing GHG emissions. Furthermore, countries such as Japan and South Korea are increasing their investments to adopt SOFC technology

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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(UK), Mitsubishi Power (Japan), Aisin Corporation (Japan), and Hitachi Zosen Corporation (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

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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.

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Generator Sales Market worth $28.6 billion by 2027 – Emerging Trends and Opportunities Analysis

 According to the new market research report "Generator Sales Market by Fuel Type (Diesel, Gas), Power Rating (Up to 50 kW, 51–280 kW, 281-500 kW, 501-2000 kW, 2001-3500 kW, Above 3500 kW), Application (Standby, Continuous), End User, Design, Sales Channel, Region - Global Forecast to 2027", published by MarketsandMarkets™, the Generator Sales Market is expected to grow from an estimated USD 21.6 billion in 2022 to USD 28.6 billion in 2027, at a CAGR of 5.8% during the forecast period. Generators are machines that convert mechanical energy into electrical energy. They play a major role in bridging the gap between power demand and supply. Internal combustion engines produce mechanical energy, which can be converted into electrical energy through generators. The generators considered in this study are compact packages that consist of an internal combustion engine, alternators, and other accessories, such as transfer switches, integrated power systems, paralleling systems, and remote monitoring systems. The rapid expansion of the industrial sector along with Surging demand for uninterrupted & reliable power supply to drive demand for backup power generation is expected to drive the demand for global Generator Sales.

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The Diesel generator segment, by fuel type, is expected to be the most significant Generator Sales Market during the forecast period

The diesel segment has the largest share of the global Generator Sales Market owing to the increasing urbanization and industrialization in the developing economies. Incidents such as the power shortages in Japan and China and the large-scale outages in Pakistan and Chinese Taipei in the first half of 2021 have created the need for backup power in the Asia Pacific region. China and India were both subject to electricity supply shortages in September and October of 2021, which mainly affected industrial consumers.

 

The 51-280 kW segment, by power rating, is expected to be the largest Generator Sales Market during the forecast period

The 51-280 kW segment is expected to have the largest market share during the forecast period. 51–280 kW capacity generators are mostly used in construction, telecom, mining, and small oil & gas projects for prime or continuous power solutions. The infrastructure/construction sector is highly responsible for propelling the overall demand for generators with this power rating. The increasing need for power in construction activities and continuous investments by governments worldwide on infrastructure projects are expected to promote the growth of the 51–280 kW Generator Sales Market during the forecast period.

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281 – Tables

74 – Figures

334 – Pages

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The industrial segment, by end user, is expected to be the largest Generator Sales Market during the forecast period

The industrial segment is expected to have the largest market share during the forecast period. Industrial generators ensure that there is a continuous supply of power in the event of power failure from the grid system and guarantee efficient performance of equipment. Diesel generators are widely used in mining operations worldwide, providing over 70% of all the power needed in mining operations by heavy-duty equipment. In this study, the industrial end users are segmented into utilities/power generation, oil & gas, chemicals & petrochemicals, mining & metals, manufacturing, marine, construction, and other industries. Other industries include agriculture, transportation, and aerospace & defense industries. The generator market is driven by the rapidly expanding global population and the urbanization of cities throughout the world.

Asia Pacific is expected to dominate the global Generator Sales Market during the forecast period

In this report, the Generator Sales Market has been analyzed for 5 regions, namely Asia Pacific, North America, Europe, Middle East & Africa, South America. Asia Pacific is expected to lead the market during the forecast period.

The poor transmission & distribution network in the developing nations of the region, along with the boom in the manufacturing sector are creating a demand for power in the region, consequently resulting in a demand for generators. The industrial sector in China contributes more than 50% of its GDP, and the growth of this sector has tremendously increased power production and consumption in the country. These factors have made China one of the most lucrative markets for the power industry. The increasing middle-class population and growing per capita income are creating growth opportunities for the healthcare sector, while the growing population and rising per capita income are the key drivers behind the growing demand for energy in the Asia Pacific region.

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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 Generator Sales Market. These include Cummins (US), Caterpillar (US), Rolls Royce (UK), Generac (US), Mitsubishi Heavy Industries, Ltd. (Japan), and Yanmar (Japan). The leading players are trying to establish themselves in the markets of developed countries and are adopting various strategies to increase their respective market shares.

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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

Industrial Counterweights Market Research on Growth, Trends, Opportunity and Forecast to 2026

New Revenue Pockets: 

The industrial counterweights market is expected to grow from an estimated USD 6.7 million in 2021 to USD 8.5 million by 2026, at a CAGR of 4.5% during the forecast period. Cast iron, followed by carbon steel, is widely used in the manufacturing of industrial counterweights. Increasing demand from logistics in industrial environment are expected to offer lucrative opportunities for the industrial counterweights market during the forecast period.  

Asia Pacific is expected to grow at the highest CAGR during the forecast period. Asia Pacific region has been segmented, by country, into China, India, Japan, South Korea, Australia, and Rest of Asia Pacific. Rest of Asia Pacific includes Singapore and Malaysia. The region is the most populated region in the world and is expected to become the largest industrial counterweights deploying region globally. It comprises many developing countries and requires automated substations in all industries to increase efficiency of the industry by increasing productivity. APAC is a growing market for industrial counterweights in various applications, such as construction, logistics, metal and mining, due to its fast-growing economies. The market in China is expected to grow mainly because the number of manufacturing units in China is increasing, which is expected to create a massive demand for industrial counterweights. Another reason for the growth of the industrial counterweights market in APAC is the increase in the number of manufacturing plants in various sectors, such as automotive, food processing, and pharmaceutical industries. Automation is increasing in APAC because of the rising necessity for high-quality products and high-rise buildings, along with the increased production rates. It also helps reduce labor costs and human interference. The demand for counterweights is very high in Asia Pacific owing to the increasing demand of efficiency and stability of equipments.

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The industrial counterweights market, by material, into iron & steel, concrete and others. The material segment, by iron & steel, is projected to hold the highest market share during the forecast period. Various alloys of iron and steel-like are used in manufacturing Industrial Counterweights. The iron material counterweights are made of cast iron, gray cast iron, gray iron, ductile iron, and ductile cast iron; whereas the steel material counterweights are made up of Fabricated steel, cast steel, carbon steel stainless steel. Increasing rate of construction, mostly in Asia Pacific, Europe and the Americas will boost the demand for counterweights.

 

The report segments the industrial counterweights market, by type, into swinging counterweights and fixed counterweights. The fixed counterweights are further classified into fixed frames and floating frames. The market for fixed counterweights is expected to hold the highest market share during the forecast period. As the name suggests, the position of the counterweight is stable in the fixed frame, whereas it is rotating in the floating frame. Fixed counterweights are increasingly adopted across the construction sector due to the high reliability and ease of use offered by them.

The industrial counterweights market, by application, is segmented into elevators, cranes, forklifts, excavators, lifts, and grinding wheels. The cranes segment, by application, is projected to hold the highest market share during the forecast period. , the investments regarding construction in most emerging markets have continued to grow at a moderate rate despite this crisis. Industrial counterweights for cranes are widely used in the construction industry. Earth-moving equipment are mainly used for construction works such as digging the earth, lifting, loading and unloading weights, and leveling. The applications of cranes in earth-moving equipment include heavy loading, high cycle rating, and accurate movement. This has led to increase in demand of industrial counterweights used in cranes. 

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The industrial counterweights market, by end-user, is segmented into industrial manufacturing, marines, mining, agriculture, logistics, renewables, and construction. The construction industry, by end-user, is projected to hold the highest market share during the forecast period. The growth of this segment is driven by overall increase in population has propelled the need for housing, which is fuelling the growth of the construction industry. Construction equipment are being enhanced to manage complex tasks and sustain in critical environments. With rising construction activities across the world and increasing budgets pertaining to construction, the demand for different types of cranes, especially tower cranes for the construction of tall buildings, will increase in emerging countries such as China, India, Brazil, and Middle Eastern countries.

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Mr. Aashish Mehra
MarketsandMarkets™ INC.
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USA : 1-888-600-6441
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