Solid Oxide Fuel Cells Market to grow by 131.32 MW |Evolving Opportunities with Aisin Corp., AVL List GmbH & Bloom Energy Corp|17000+ Technavio Reports
NEW YORK, Dec. 16, 2021 -- The "Solid Oxide Fuel Cells Market - Competitive Analysis, Drivers, Trends, Challenges, Five Force Analysis" report has been added to Technavio's offering. 58% of the market's growth will originate from the Americas during the forecast period. The US is the key market for solid oxide fuel cells in Americas. Market growth in this region will be faster than the growth of the market in APAC. The US accounted for the largest share of SOFC installation, which is mainly due to the support from the federal government for developing and installing fuel cells in the country. This will facilitate the solid oxide fuel cells market growth in the Americas over the forecast period.
The solid oxide fuel cells market size is expected to increase by 131.32 MW. However, the growth momentum is likely to decelerate at a CAGR of 19.16% from 2020 to 2025 as per the latest report by Technavio.
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Market Dynamics
The market is driven by factors such as rising energy consumption, flexibility in the use of fuels, and support from governments. However, the growing competition from alternative technologies is hindering the market growth. The holistic analysis of the drivers & challenges will help in deducing end goals and refining marketing strategies to gain a competitive edge. The solid oxide fuel cells market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth.
Company Profiles
The SOFC market is fragmented and the vendors are deploying growth strategies such as partnering with various demonstration projects funded by governments to compete in the market. The solid oxide fuel cells market report provides complete insights on key vendors including Aisin Corp., AVL List GmbH, Bloom Energy Corp., Ceres Power Holdings plc, Convion Ltd., Elcogen AS, NGK SPARK PLUG Co. Ltd., POSCO, SOLIDpower Spa, and Viessmann Climate Solutions SE.
Few Companies with Key Offerings
- Aisin Corp. - The company offers solid oxide fuel cells such as ENE-FARM Type S residential-use fuel cell cogeneration systems.
- AVL List GmbH - The company offers solid oxide fuel cells such as AVL Solid Oxide Fuel Cell Combined Heat and Power.
- Bloom Energy Corp. - The company offers solid oxide fuel cells products such as hydrogen fuel cells.
- Ceres Power Holdings plc - The company offers solid oxide fuel cells such as SteelCell.
- Convion Ltd. - The company offers solid oxide fuel cells products such as Convion C60.
Competitive Analysis
The competitive scenario provided in the solid oxide fuel cells market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.
Market Segmentation
- By Application, the market is classified into stationary, transportation, and portable.
- By Geography, the market is classified as Americas, APAC, and EMEA.
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Solid Oxide Fuel Cells Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 19.16% |
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Market growth 2021-2025 |
131.32 MW |
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Market structure |
Fragmented |
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YoY growth (%) |
23.04 |
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Regional analysis |
Americas, APAC, and EMEA |
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Performing market contribution |
Americas at 58% |
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Key consumer countries |
US, Japan, South Korea (Republic of Korea), China, and Germany |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Aisin Corp., AVL List GmbH, Bloom Energy Corp., Ceres Power Holdings plc, Convion Ltd., Elcogen AS, NGK SPARK PLUG Co. Ltd., POSCO, SOLIDpower Spa, and Viessmann Climate Solutions SE |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for forecast period, |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio