Solid Oxide Fuel Cell Market to Undertake Strapping Growth During 2025

The solid oxide fuel cell market is expected to grow at a CAGR of 13.88% from 2017 to 2025, to reach a market size of USD 1,140.6 million by 2025. Government subsidies and fuel cell programs, increasing demand for efficient power generation, and stringent emission norms in the US and Europe are the major factors driving the growth of solid oxide fuel cell market.

Browse 88 Market Data Tables and 28 Figures spread through 133 Pages and in-depth TOC on " 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"

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The solid oxide fuel cell market is dominated by a few global players that are established brand names with a wide regional presence. The key players in this market include Bloom Energy (US), Aisin Seiki (Japan), SOLIDpower (Italy), Sunfire (Germany), UnderSea Sensor Systems (US), and Atrex Energy (US).

Based on application, the Combined Heat and Power (CHP) segment is expected to be the fastest growing segment from 2017 to 2025. This segment is expected to witness growth mainly due to government initiatives and programs for installation of fuel cells. The Japanese ene-farm program for residential and commercial CHP installations is driving the market for this segment due to subsidies provided by the government for fuel cell-based CHP installations. The German government’s Callux program and European Union’s ene-field project are the driving factors for the growth of this segment in Europe.

Based on end-use, data centers is the fastest growing segment for the power generation application for the solid oxide fuel cell market. Data centers currently consume 2% of electricity in the US, and the stringent emission norms as along with the demand for cost-effective power generation, in addition to government incentives, is driving the market for this segment especially in the US.

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Based on region, Asia Pacific is expected to be the fastest growing region for the solid oxide fuel cell market from 2017 to 2025. The market in this region is mainly driven by the Japanese government’s policy of phasing out nuclear energy from its energy mix and replacing it with a natural gas-based power generation. The Japanese government’s initiatives, such as the ene-farm project for residential CHP installations as well as subsidies for fuel cell-based distributed power generation are further driving the solid oxide fuel cell market.

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Oilfield Equipment Rental Market to reach $20.55 Billion by 2022 | Key players include Halliburton Company, Schlumberger Limited, Weatherford International PLC, Superior Energy Services, Inc., Oil States International, Inc., and Parker Drilling Company

According to the new market research report “Oilfield Equipment Rental Market by Equipment (Drilling Equipment (Drill Pipe, Drill Collars, Hevi-Wate, and Subs), Pressure & Flow Control Equipment, and Fishing Equipment), Application (Onshore and Offshore), and Region - Global Forecasts to 2022”, published by MarketsandMarkets™, the global oilfield equipment rental market is projected to grow at a CAGR of 3.87% by value from 2017 to 2022.

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182 - Pages

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North America is estimated to be the largest market for oilfield equipment, followed by the Middle East. This trend is expected to continue till 2022. The growth of the oilfield equipment rental market is driven by technological advancement in oilfield equipment and increase in global investments in exploration and production.

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The oilfield equipment rental market is dominated by a few global players. Key players operating in the market include Halliburton Company (U.S.), Schlumberger Limited (U.S.), Weatherford International, PLC (Switzerland), Superior Energy Services, Inc. (U.S.), Oil States International, Inc. (U.S.), and Parker Drilling Company (U.S.), among others.

Major strategies adopted by players in the oilfield equipment rental market includes mergers & acquisitions and contracts & agreements. Mergers & acquisitions was the most commonly adopted strategy from 2014 to April 2017. Industry players also adopted contracts & agreements, which was the second most widely followed strategy from 2012 to April 2017.

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Schlumberger Limited is one of the leading providers of products, services, technology, information solutions, and integrated project management solutions for the global oil & gas exploration and production industry. The company offers products and services to the entire gamut of oilfield services, from exploration to production. Schlumberger Limited is focusing on R&D activities as a long-term strategy to support and grow its technological leadership in the oilfield equipment segment. New products, recently launched by the company, generated approximately 20% of the group revenue in 2016. The company recently launched PowerDrive Orbit Rotary Steerable System (RSS) under its drilling segment in 2016.

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Halliburton Company is one of the leading service providers and product suppliers in the upstream sector of the oil & gas industry. The company provides thirteen Product Service Lines (PSLs) under two main divisions, namely, drilling and evaluation and completion and production. The company has operations in 80 countries across the globe. The company has manufacturing operations in the U.S., China, Singapore, Canada, Malaysia, and the U.K. The long-term strategy of the company is to focus on three areas, namely, international business opportunities, applied technology, and integrated solutions. The company is well positioned to utilize its global infrastructure and technological prowess to provide operational distinction at low costs. As a part of its expansion strategy, the company has recently opened technology and research centers in Iberia, Brazil, and the U.S. to have technologically advanced products and solutions.

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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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Capstone Turbine (US) and FlexEnergy (US) are the Renowned Players in Micro Turbines Market - Report by MarketsandMarkets™

According to the new market research report "Micro Turbines Market by Power Rating (12–50 kW, 50–250 kW, and 250–500 kW), Application (Combined Heat and Power and Standby Power), End-User (Industrial, Commercial, and Residential), and Region - Global Forecast to 2022",the global micro turbines market is expected to grow at a CAGR of 9.46%, from 2017 to 2022, to reach a market size of USD 251.0 million by 2022. Increasing demand for electric power worldwide, subsequent investments in new power generating capacity, and growing adoption of combined heat and power (CHP) are likely to drive the micro turbines market during the forecast period.

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The micro turbines market is dominated by a few major players that are established brand names with a wide regional presence. The leading players in the micro turbines industry include Capstone Turbine, Ansaldo, Flexenergy, MTT, Toyota Turbine, Brayton, Eneftech, and Bladon.

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The commercial segment is estimated to be the fastest-growing segment of the micro turbines market, by end-user, from 2017 to 2022. This segment is being driven by the expansion of urban areas and the development of commercial trade hubs. The opportunities in the commercial sector will lead to an increase in the number of shopping malls, sports complexes, resorts, and hotels. The advancing digital economy and growth of the IT and telecommunications sector have resulted in an increase in the construction of office complexes, which demand continuous power.

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Based on application, the micro turbine market has been categorized into CHP and standby power. The CHP application market is expected to grow at the highest CAGR during the forecast period. This application is highly useful for industries such as wastewater treatment plants, breweries, rubber mills, and paper mills which require heat to drive various internal processes. CHP-generating micro turbines also provide heat to residences in colder climates such as in Europe, North America, and some parts of China. 

Based on power rating, the 50–250 kW segment is expected to grow at the highest CAGR from 2017 to 2022. This is due to the increasing need for backup power and heat in the industrial and commercial sectors. The micro turbines in this segment offer backup power along with reduced emissions, thus making the solutions as eco-friendly as possible.  The 250–500 kW rated segment is the second-fastest growing segment, based on power rating. Micro turbines with this power rating are used to generate onsite power and heat in case of unpredicted power outages at hospitals and universities, among others. The 250–500 kW rated power segment also presents promising opportunities for industrial and commercial end-users.

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Based on region, the micro turbines market in North America is projected to grow at the fastest rate from 2017 to 2022 followed by Europe and Asia Pacific. Countries such as the US and Canada are the largest markets and have increased their investments in CHP in the recent past, with micro turbines being one such technology. The US accounted for a major share of the North American market in 2016, while the Canadian market is projected to grow at the highest CAGR from 2017 to 2022. Aging power plants and frequent natural calamities have created enormous growth opportunities for the micro turbines market in North America.

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, "Knowledgestore" 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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