The Global Solid Oxide Fuel Cell Market To Grow To Nearly $1.3 Billion By 2018
Wellesley, MA (PRWEB) December 24, 2013
According to a new technical market research report, Solid Oxide Fuel Cells: Technologies and Global Markets, from BCC Research (http://www.bccresearch.com), the global solid oxide fuel cell market was valued at $622 million in 2012 and is expected to increase to $906 million in 2013. BCC Research projects the market to grow to nearly $1.3 billion by 2018, and register a five-year compound annual growth rate of 7.5% from 2013 to 2018.
Solid oxide fuel cells are among the most efficient and cost–effective candidates for auxiliary power, mobile power, stationary distributed or central power, and portable product power. SOFCs contribute to energy security for the country, improving the environment, greatly reducing urban pollution, and creating jobs in manufacturing as the technology advances. They can also provide a cost-effective and performance-driven alternative to other fuel cells, batteries, internal combustion engines, and coal- or oil-fired heat engines.
SOFCs are relatively large in size, ranging from several pounds to many tons. The smallest will ultimately be commercialized to power or recharge portable products and could slowly displace segments of the immense portable product battery market (lithium–ion and nickel metal hydride, for instance). In the meantime, auxiliary power units, or APUs, are being commercialized as portable generators or anti–idling units for parked diesel trucks. Medium-sized units can provide power to a great many residences, or an industrial facility, or a server farm. This product class includes some large-scale combined heat and power units and a variety of power generation applications and potentially some large military applications.
The current market is becoming characterized by niche products, pre-commercial demos, and subsidized pilot projects. Over the next five years these pilots will be expanding into commercial implementations. SOFCs are transitioning from an emerging market to specialty market and are poised to become a mass market for both residential heating power as well as consumer electronics industries.
This technical market research report from BCC Research is a comprehensive overview of the global market for components of solid oxide fuel cells, a technology offering the promise of greatly reduced environmental impact and excellent performance, price, fuel flexibility, and efficiency advantages. As such, it provides an assessment of the North American, European, Far Eastern, and Rest–of–World market for SOFC components. In addition, this study analyzes market trends, with data from 2012, estimates for 2013, and projections of CAGRs through 2018. Among the applications considered in this report are combined heat and power; remote power and auxiliary power units; military; portable product power; and exotic. It also presents comprehensive company profiles of major players in the industry.
This report was produced through an in-depth analysis of technical and business literature and published dissertations; a review of the history of the technologies involved; and interviews with industry experts, company representatives, federal government researchers, and university scientists. It is intended to provide a unique analysis of the SOFC market and will be of interest to a variety of current and potential fuel cell users and integrators as well as competing battery, fuel cell, and conventional power generation makers.