Increasing number of electric vehicles, high conversion efficiency than other fuels, military applications, transportation, and small stationary applications are the major factors driving the planar solid oxide fuel cell market growth. However, longer start up time and high capital investment are limiting the market growth. The connection of more commercial and residential areas to supply power by increasing distributed power generation is the key driver for the planar solid oxide fuel cell market. The growth of the market lies in planar SOFC applications in oil & gas pipelines and transportation applications.
Asia Pacific has the largest market with more than 35% of share in global planar solid oxide fuel cell market and is expected to grow at the highest CAGR during the forecast period. The stationary power generation technologies are the opportunities for market growth in developed nations such as North America and Europe. The demand for alternative electric power generation technologies in emerging nations and government’s preference towards distributed power generation are major drivers for the planar solid oxide fuel cell market.
The key players of the market include, Protonex Technology Corporation, Ultra Electronics, Hexis AG, SOFC Power S.P.A., Ceres Power Holdings PLC., Fuel Cell Energy, Ceramic Fuel Cells Limited, Aisin Seiki Corporation Limited, and Convion Fuel Cells Ltd.
Planar Solid Oxide Fuel Cell Market, By Cost Breakdown:
o New Zealand
o Rest of Asia
o Middle East
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