Global Solid Oxide Fuel Cell Market: Key Highlights
Global Solid Oxide Fuel Cell Market: Key Market Dynamics
Global Solid Oxide Fuel Cell Market: Regional Overview
The solid oxide fuel cell market in the North American region is expected to grow at a significant pace due to growing concerns and global pressure regarding reduction of hazardous emissions. Owing to this, different types of fuel cells are gaining higher importance in the US leading to rise in their installations and deployments. Increasing investment in the research and development of advanced SOFC is further fueling the market growth.
In Europe, the SOFC market is projected to witness growth owing to increasing efforts towards minimizing the emissions through shifting transition towards low emission economy. The region is constantly looking forward to eradicate the cause of air pollution resulting into support to the fuel cell. In addition to this, EU initiatives and funding opportunities towards the adoption of fuel cell. For instance, the European Fuel Cell and Hydrogen Joint Undertaking Programme with investment of around USD 210.8 million, is fueling the demand for SOFC.
Global Solid oxide fuel cell Market: Key Players Overview
bloom Energy manufactures and commercializes the solid oxide fuel cell for on-site energy production. The company offers SOFC through its proprietary technology and converts the fuel into the electricity. In December 2019, Bloom Energy and Samsung Heavy Industries collaborated for development of solid oxide fuel cell technology for ships for replacing the oil based power generation.
Elcogen AS is a manufacturer of ceramic anode solid oxide cells and stacks. The company operates through elcocell and elcostack under its solid oxide fuel cell (SOFC) technology for the residential, commercial, transportation and energy storage. In February 2019, the company plans to set up a SOFC manufacturing facility for EUR 12 million under the InnovFin-EU finance Under Horizon 2020 initiative.
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