LONDON–(BUSINESS WIRE)–According to the latest research study released by Technavio, the global solid oxide and fuel cell (SOFC) market is expected to reach close to USD 815.6 million by 2020.

Global solid oxide and fuel cell (SOFC) market expected to reach close to USD 815.6 million by 2020.

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This research report titled ‘Global Solid Oxide Fuel Cell Market 2016-2020’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all leading regions.

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“Vendors are using various inexpensive metals to reduce the price of SOFCs. In addition, the increasing support from the government also reduces the price of SOFCs. For instance, Japan and Germany are sponsoring large field test programs for SOFCs and working to reduce the manufacturing cost of SOFCs,” said Vishu Rai, one of Technavio’s lead analysts for energy storage research.

“As SOFC deployments and the size of the systems increase, the capital cost per unit decreases. This reduction in price will greatly influence the acceptance of SOFCs across various end-users, allowing them to be used in a variety of applications. An example to support the above statement has been given below, where we have explained the reduction in costs for CHP Systems as well as APU systems,” added Vishu.

Segmentation of the global solid oxide fuel cell market by application

  • Stationary
  • Transportation
  • Portable

Stationary: largest segment of the global solid oxide fuel cell market

The market is expected to grow at a steady pace during the forecast period driven by the increased usage of SOFC as a primary and backup power generator for electronic devices such as CHP by residential and commercial end-users. In the past five years, thousands of m-CHP fuel cells have been installed in Europe and Asia due to the government support in making SOFC a commercially viable technology. One of the most successful schemes for fuel cell adoption has been the ene-farm scheme in Japan, which has resulted in more than 1,00,000 m-CHPs installations in the past five years. Initially, when it started in 2009, the ene-farm scheme used proton exchange membrane (PEM) technology, but since 2011, SOFC systems are also being installed.

Transportation: second largest segment of the global solid oxide fuel cell market

The global SOFC by transportation application is likely to reach USD 128 million by 2020. SOFCs are used as auxiliary power units (APUs) for onboard electronics in luxury vehicles, heavy trucks, and recreational vehicles. SOFCs can provide continuous electrical power for longer durations. In addition, the use of SOFC is increasing in diesel trucks as it helps reduce both diesel consumption and the noise generated by the engine. For instance, in the US, more than 500,000 long haul trucks constituting America’s current fleet consume 3.8 billion liters of diesel a year when idling, which is equivalent to travelling 6.83 billion miles, producing 11 million tons of CO2 and 180,000 tons of NOX. By using SOFC, the CO2 and NOX emissions can be cut back.

Global SOFC market by portable application

The portable segment is the fastest growing application segment in the global SOFC market. The growth of this segment is attributed to the increasing usage of SOFC in small power generators, military vehicles, and unmanned aerial vehicles (UAVs). Portable SOFCs can be used instead of large batteries and generators, providing higher efficiency and lower emissions than most traditional diesel-based generators.

The increasing application of SOFCs in APUs is expected to drive the global market in the future. For instance, German-based eZelleron has developed Kraftwerk, a portable device that uses SOFC technology to charge mobile devices. Technavio researchers also expect the increasing adoption of SOFCs in portable applications such as the military sector and in UAVs and drones to boost the market growth.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.