Global Solid Oxide Fuel Cell Market: Industry Analysis and Forecast (2020-2026) (Business Opportunities - Marketing & Sales)

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Global Solid Oxide Fuel Cell Market: Industry Analysis and Forecast (2020-2026)

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Global Solid Oxide Fuel Cell Market was valued at US$ xx Mn in 2019 is expected to reach US$ xx Mn by the end of 2026 at a CAGR of 13.4% from 2020 to 2026.

There are many types of fuel cells, but they all share a single common design and process, a negative electrode (an anode) and a positive electrode (a cathode) sandwiched around an electrolyte undergo an electrochemical reaction to produce an electric current. Solid Oxide fuel cells (SOFC) use a hard, ceramic compound of metal (like calcium or zirconium) oxides (chemically, O2) as electrolytes. Efficiency is about 60 per cent, and operating temperatures are about 1,000 °C (about 1,800 °F). Cells output is up to 100 kW. At such high temperatures, a reformer is not required to extract hydrogen from the fuel, and waste heat can be recycled to make additional electricity. However, the high-temperature limits applications of SOFC units and they tend to be rather large. While solid electrolytes cannot leak, they can crack.

They are unique in that they can be used for a wide range of applications, from generating power for satellites and space capsules, to powering fuel cell vehicles like automobiles, buses, or boats, to generating primary or emergency backup power for buildings. Solid oxide fuel cells (SOFCs) are considered to have the most potential of any fuel cell technology because of exceptionally high electrical efficiencies and low operating costs, according to researchers and experts. In addition, over the next few years, SOFCs are expected to be the fastest-growing fuel cell market.

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