Planar Solid Oxide Fuel Cell Market Size, Share, Growth and Future Scope

1. Planar Solid Oxide Fuel Cell Market Size, Share, Growth and Future Scope 1 ©P&SIntelligence.Allrightsreserved

2. The rising focus on alternative sources of energy and increasing application of planar solid oxide fuel cells are expected to propel the revenue of the planar solid oxide fuel cell market from $379.9 million in 2015 to $804.9 million by 2022. Due to these factors, the market is expected to demonstrate a CAGR of 11.4% during the forecast period. Additionally, the implementation of strict government laws and regulations regarding greenhouse gas emissions, along with the high energy prices, are adding significantly to the market size. Reflecting the increasing focus on non-conventional sources of energy, governments worldwide are formulating policies to develop and adopt alternative methods to generate electricity. As part of this shift toward alternative methods, the fuel cell technology is being adopted in place of combustion-based electricity generators. Due to advantages including higher efficiency in energy conversion and zero emissions of harmful particles, planar solid oxide fuel cells find huge application in transportation and portable and stationary/backup power applications. Download report sample at: https://www.psmarketresearch.com/market-analysis/planar-solid- oxide-fuel-cell-market/report-sample Stationary power encompasses any application in which the fuel cells function at a fixed location, such as large-scale systems for backup power, combined heat and power (CHP), or prime power and small systems for micro-combined heat and power (m-CHP), for commercial and residential operations. Additionally, fuel cells offer definitive power backup for telecommunications networks in areas with an underdeveloped power infrastructure. Besides, planar solid oxide fuel cells are increasingly being used in the oil and gas industry. Planar solid oxide fuel cells offer benefits such as fuel adaptability and extremely low levels of sulfur oxide (SOx) and nitrogen oxide (NOx) emissions. Because of these advantages, these fuel cells are being widely adopted in industries such as chemicals, power generation, and automobile. To cater to the increasing application base of this technology, companies such as Ceres Power Holdings plc, Chevron Corporation, Ballard Power Systems Inc., Ultra Electronics Holdings plc, and Convion Ltd. are launching new and better planar solid oxide fuel cells. Based on component, the planar solid oxide fuel cell market is categorized into planar cells, manifolds, separator cells, seals, and others. Among these, the category of planar cells accounted for the largest market share in 2015. Even during the forecast period, the demand for planar cells is expected to be the highest, because they are the most imperative component of planar solid oxide fuel cells and their application is increasing across industries. In the global market, the Asia-Pacific (APAC) region generated the highest revenue in 2015 due to the large-scale installation of planar solid oxide fuel cells for power backup. APAC nations such as South Korea, China, and Japan have displayed considerable market growth in recent times because of the subsidies provided by their government for the domestic production of fuel cells.

3. Moreover, the increasing demand for such devices from the automotive sector of the region is expected to boost the planar solid oxide fuel cell market growth during the forecast period. Browse full report at: https://www.psmarketresearch.com/market- analysis/planar-solid-oxide-fuel-cell-market The depletion of fossil fuels has increased the focus on renewable sources of energy, which has, in turn, boosted the deployment of planar solid fuel cells. GLOBAL PLANAR SOLID OXIDE FUEL CELL MARKET By Component • oPlanar Cells oSeparator Cells oManifolds oSeals By Application • oStationary oPortable and Transportation By Region • oAsia-Pacific oNorth America oEurope oRest of the World (RoW). 3 © P&S Intelligence. All rights reserved

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