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Global Solid Oxide Fuel Cells Market (2021 to 2026) - Growth, Trends, COVID-19 Impact and Forecasts - ResearchAndMarkets.com

·4-min read

DUBLIN, October 25, 2021--(BUSINESS WIRE)--The "Solid Oxide Fuel Cells Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The solid oxide fuel cells market is expected to grow at a CAGR of over 14% during the forecast period of 2020 - 2025.

Companies Mentioned

  • DuPont de Nemours, Inc.

  • Mitsubishi Hitachi Power Systems, Ltd.

  • Watt Fuel Cell Corp.

  • Bloom Energy Corp.

  • Sunfire GmbH

  • Ceres Power Holdings plc

  • Elcogen AS

  • Convion Ltd.

  • Hexis S.A.

Key Market Trends

Data Centers Sector to Dominate the Market Growth

  • The data center market is expected to grow at a CAGR of over 8% in the forecast period, and along with-it power backup systems market is expected to grow too. 33% of the data centers outage is caused by power outages, and a power outage costs a lot of money to data centers operated. High efficiency, large capacity and continuous power generation capability have made solid oxide fuel cells a preferable choice for power backup and voltage variations.

  • India is one of the fastest-growing economies in the world, and it is likely to boost the growth of public cloud-based data centers. The IT industry dominates the Indian market, as the largest private sector employer in the country, where data centers are widely used, thereby, propelling the solid oxide fuel cells market growth.

  • There have been a massive increase in research and pilot testing of usage of solid oxide fuel cells in data centers. In September Microsoft along with McKinstry and Cummins launched world's first gas based data center.

  • Therefore, with increase in internet usage, and ongoing research on solid oxide fuel cells, the market is expected to grow in forecast period.

Asia Pacific to Dominate the Market

  • Asia-Pacific has dominated the solid oxide fuel cell market growth in 2018 and is expected to continue its dominance in the coming years as well. The region is expected to see an unprecedented increase during the forecast period.

  • Japan is leading in the region with vast applications of fuel cells, ranging from backup services for datacenters, combined heat and power for homes, and many more. This is expected to provide a significant market growth for solid oxide fuel cell market.

  • China has also witnessed a rise in its hyper-scale platforms, owing to which providing data center services for Chinese hyper-scale platforms has become necessary. China has 50 internet users per 100 population, indicating scope for lot of development and the connectivity ecosystem and thereby driving the solid oxide fuel cells market.

  • Amazon Web Services is investing USD 1.6 billion to set up two data centers in India, with much of the investment going towards high end computer and storage units.

  • Therefore, the aforementioned factors are expected to drive the market in forecast period, similar to the trend witnessed in recent years.

Key Topics Covered:

1 INTRODUCTION

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY

4 MARKET OVERVIEW

4.1 Introduction

4.2 Market Size and Demand Forecast in USD billion, till 2025

4.3 Recent Trends and Developments

4.4 Government Policies & Regulations

4.5 Market Dynamics

4.5.1 Drivers

4.5.2 Restraints

4.6 Supply Chain Analysis

4.7 Porter's Five Forces Analysis

5 MARKET SEGMENTATION

5.1 Application

5.1.1 Stationary

5.1.2 Transport

5.1.3 Portable

5.2 End-user

5.2.1 Commercial

5.2.2 Data Centers

5.2.3 Military & Defense

5.2.4 Others

5.3 Geography

5.3.1 North America

5.3.2 Europe

5.3.3 Asia-Pacific

5.3.4 South America

5.3.5 Middle-East and Africa

6 COMPETITIVE LANDSCAPE

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Strategies Adopted by Leading Players

6.3 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/nvlbi2

View source version on businesswire.com: https://www.businesswire.com/news/home/20211025005397/en/

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