Solid Oxide Fuel Cell Market Size to Reach USD 14.8 Bn by 2030

Tokyo, Aug. 22, 2022 (GLOBE NEWSWIRE) -- The Asia Pacific solid oxide fuel cell market size was accounted at USD 0.41 billion in 2021 and had reached 47% market share in 2021.

The global solid oxide fuel cell market size was valued at USD 1.7 billion in 2021. As a sort of alternative power source that uses protons to produce electricity alongside water and warmth as pollutants, fueling cells are generally categorized as renewable sources of power. Whenever the energy is used for cooling purposes, battery packs are said to attain overall effectiveness of over 80%, exceeding their claimed efficiency level of around 50% to 60%.

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Solid oxide fuel cells, PEM fuel cells, molten carbonate fuel cells, and phosphate battery storage are some of the several types of fuel cells. A type of energy cell known as a fuel cell uses solid oxides substance to generate electricity from the oxidation of gasoline. In comparison to certain other power generation technologies, a fuel cell does have several advantages, including fuel flexibility, lengthy durability, high combined power and heat efficiencies, minimal pollutants, and relative affordability. Additionally, fuel cells have a wide range of uses, such as in data centers, army & defense, and auxiliary power systems in vehicles, among many others.

Regional Snapshots

During the anticipated market path, the usage of solid oxide cells is probably going to have a remarkable development. Due to the concentration of important companies' data centers in North America, the fuel cells industry, there is expected to hold a disproportionately significant market share. A significant portion of the worldwide solid oxide cell industry is expected to be held by Asia, together with Europe, as a result of the expanding use of power sources that are great in efficiency and lower in emissions. A major dynamic aspect influencing the deployment of solid-oxide fuels cell in Europe is the rise in environmental issues.

Additionally, the industry for such Asian Regions is expanding as a result of a positive forecast for data center operations and a strong market in China and South Korea. In addition to this, Africa, the Mid East, and North America are anticipated to experience considerable development as a result of the growing use of solid oxide cells there on both a commercial and individual basis.

Report Highlights

• The solid oxide cells market is divided into several sectors, including energy production, combined heating, and power, & defense. Amongst which, the implementation of SOFCs would increase the combined heating and power market. Modern structures can use combined heating and power meaning CHP, devices driven by SOFC as just an environmentally efficient and cost-effective method of generating both thermal and electrical power.
• An encouraging future for SOFC applications will result from legislative and administrative initiatives to promote CHP usage. To speed up CHP developments and implementation, the U.S. Department of Energy, for example, provides the CHP Implementation Programme and the CHP Research and innovation program.
• The North American polymer electrolyte fuel cell size of the market is anticipated to grow at a noteworthy CAGR throughout 2030, taking into account the geographical environment. American federal and local governments are putting legislative frameworks into place to move to hydrocarbon technology. Moderate and lengthy targets have also been set forward by lawmakers and regulators that promote the use of cutting-edge zero-emission technology and invest in renewables in the business.
  
  

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Scope of the Report

Market Dynamics

Drivers

The government's solar cell regulations and initiatives are one of the major factors influencing the development of the solid oxide cell market. In states like Delaware, California, and Connecticut that also offer incentives and support for hydrogen fuel installations, culminating in SOFC, as well as other fuel infrastructure in the United States, energy storage projects, energy storage projects are among the forefront initiatives. The California Identity Incentive System offers producers incentives to support emerging, novel, and decentralized electricity production. In light of the program's recent expansion, the Power Department has sponsored a lecture on SGIP Renewable Power. Understanding sustainable SOFC power is another factor driving the industry's requirement.

A faster rate of development is being seen in the natural gas sector. Due to these problems, the economic prognosis for solid-oxide fuel cells has fundamentally changed. It is incorporated into the existing fuel infrastructure to provide steady energy. Energy from SOFC has several commercial and industrial applications. Any fuel combination will function with that as well. Fuels with partial oxidation don't produce any carbon emissions. The key forces driving the SOFC business are hence government support and the need for sustainable energy on a worldwide scale.

Restraints

For the electrical conversion of LP gas, methane, and other fossil sources to produce power, SOFC is complicated integration of several elementary particles. Because heat transfer is the fundamental chemical mechanism, SOFC typically works at extremely high temperatures. Under these conditions, standard ceramic electrolytes are inefficient, hence condition exists zirconia must be used as the electrolytes.

Furthermore, a US academic institution's study found that using YSZ composite conductors with electrolytes improves electrochemical performance even more. Zirconium is a mineral with titanium-like characteristics and a very large melting point. Zirconium costs approximately twice as much per unit as a traditional ceramic-based electrolyte, though. This raises the price of producing and installing fuel cells, resulting in a significant barrier to this industry's growth.

Opportunities

The SOFC market has a lot of room to grow due to end-user demand. Computed clusters are the primary end users with the highest energy use. They are in fact, the ones expanding the quickest while consuming SOFC electricity. Again, the proper operation of visualization tools and prevention of data loss depends on an unbroken supply of electricity. The SOFC is merely an energy source that meets all requirements for cloud services.

The data centers also require a cost-effective energy supply due to their significant electricity consumption. Because cloud services use SOFC, the sector has a huge amount of space to grow. Governments appear to be a sizable market for SOFCs, and both fixed and mobile SOFC power production is increasing. Given the demand for effective & quiet power production for military applications, SOFC also has a market opportunity within this sector. It is predicted that as the chance of this company's continuing expansion rises, SOFC movable technology used in military applications will advance.

Challenges

The start-up time of the SOFC is longer than that of other electrochemical devices. Due to their advanced technology, SOFCs require more time to start up since they must first attain the necessary thermal performance to function at maximum efficiency. Additionally, the operation of a SOFC produces a significant amount of energy that is emitted into the environment, which significantly increases the need for efficient thermal insulation and ultimately increases the mass of the device. These are the main causes of SOFC's low market penetration in high power transportable and catastrophe applications. The effort of developing SOFC technology with faster start rates has barely started. R&D investments were now being made by companies like Sunfire, SOLID Power, and Bloom Energy to address the technical problems with SOFC.

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Recent Developments

• In September 2021, Blooming Technologies unveiled servers powered by hydrogen. This system uses a partial oxidation stack and hydrogen as fuel to potentially supply on-site energy. It was hoped that such electrolytes will begin to be shipped commercially in 2022. These PCs underwent a five-month testing phase in South Korea alongside the SK Eco facility.
• Aisin Company and Automotive AW, both members of the Aisin Family, intended to integrate their administration in August 2020 to enhance their significant research division. An inventive introduce a new method was generated as a result of the enhancement of based tasks' and assets' effectiveness brought about by such integration.
• In August 2020, a contract was signed between Mitsubishi Electric and Asahi Standards & Technologies, Ltd., for the provision of MEGAMIE solid-oxide fuel cells (SOFC) units for a development program. This program is a part of the Japanese government's investigation, research, and application program for zero carbon technologies. In line with this Asahi Quality program, & Technologies, Ltd., tested the feasibility of employing micro SOFC units to generate electricity from the sewage from the Ibaraki Brewery. It was discovered during testing that the appliance, which was rated at 200 kW, could now sustain energy production for 10,000 hours. While supplying roughly 1,600 MWh of electricity, it also helped to cut carbon dioxide emissions by about 1,000 tonnes annually. This development was financed using a leasing strategy used by Sumitomo Mitsui Financing and Renting Co., Ltd.
• In November 2021, Hitachi took part in the development of the multi-resource system for hydrocarbons. Hitachi will create a SOFC mixed cogeneration facility in this period.
• In February 2022, Weichai, CERES, and Bosch decided to create various forms of cooperation to look for opportunities in China. Two separate joint development agreements will be in place. The first one will be a 3-platform joint venture (also known as a "System JV") for the development and manufacturing of solid oxide cell devices. The creation of the following collaboration, known as the "Stack JV," will give the systems JV and maybe other third parties access to hydrogen fuel stacks.
• To determine the best ways to employ SOFC innovation in megawatt cruise ships, CERES supported projects in September 2021. The money was acquired by the United Kingdom Transportation Department.

Market Segmentation

By Type

• Linear
• Tubular

By Application

• Portable
• Stationary
• Transport
  
  

By End User

• Commercial & Industrial
• Data Centers
• Military & Defense
• Residentials

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
  
  

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