Planar Solid Oxide Fuel Cell Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 10.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Planar Solid Oxide Fuel Cell Market Analysis
The global planar solid oxide fuel cell market is expected to grow at a CAGR of more than 10% over the period of 2020-2025. The rising demand for clean energy over concerns of the environmental impact of energy generation from conventional sources such as coal and natural gas is expected to help grow the planar solid oxide fuel cell market. However, relatively high initial cost and new technology have somewhat hampered the growth of the planar solid oxide fuel cells in the market.
- Data centers sector is expected to witness significant growth in the forecast period, owing to various factors such as an increase in investments in data centers, and usage of clean energy source for powering these centers. The use of solid oxide fuel cells in these centers has seen a rise due to the energy efficiency of the fuel cells and rising concerns over greenhouse gas emissions from conventional electricity generation methods.
- The increasing demand for electrical energy to sustain global development requires consistent heavy investments in energy-efficient and clean energy sources. This is expected to help the planar solid oxide fuel cell become more reliable and practical through means of research and development, which in turn will increase the usage of planar solid oxide fuel cells.
- Asia-Pacific is expected to dominate the market growth with the majority of the demand coming from countries such as China and India, owing to factors like economic growth in the emerging nations, an increasing number of data centers, and rising industrial activities.
Planar Solid Oxide Fuel Cell Market Trends
This section covers the major market trends shaping the Planar Solid Oxide Fuel Cell Market according to our research experts:
Data Centers 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 planar 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 planar solid oxide fuel cells market growth.
- There has been a massive increase in research and pilot testing of usage of planar solid oxide fuel cells in data centers.
- Therefore, with an increase in internet usage, and ongoing research on planar solid oxide fuel cells, the market is expected to grow in the forecast period.
Asia-Pacific to Dominate the Market
- Asia-Pacific has dominated the planar solid oxide fuel cell market growth, in 2019, and is expected to continue its dominance in terms of market growth 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 data centers, combined heat and power for homes, and many more. This is expected to provide a significant market growth for planar 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 have become necessary.
- China has 50 internet users per 100 population, indicating scope for a lot of development and the connectivity ecosystem and thereby driving the planar solid oxide fuel cells market.
- Therefore, the aforementioned factors are expected to drive the market in the forecast period, similar to the trend witnessed in recent years.
Planar Solid Oxide Fuel Cell Industry Overview
The planar solid oxide fuel cell market is consolidated. Some of the key players in this market include Aisin Seiki Co Ltd, Bloom Energy Corp., and Hexis S.A.
Planar Solid Oxide Fuel Cell Market Leaders
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Hexis S.A.
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Bloom Energy Corp.
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Aisin Seiki Co Ltd
*Disclaimer: Major Players sorted in no particular order
Planar Solid Oxide Fuel Cell Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Scope of the Study
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1.2 Market Definition
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1.3 Study Assumptions
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2. EXECUTIVE SUMMARY
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3. RESEARCH METHODOLOGY
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4. MARKET OVERVIEW
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4.1 Introduction
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4.2 Market Size and Demand Forecast in USD billion, till 2025
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4.3 Recent Trends and Developments
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4.4 Market Dynamics
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4.4.1 Drivers
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4.4.2 Restraints
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4.5 Supply Chain Analysis
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4.6 Porter's Five Forces Analysis
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4.6.1 Bargaining Power of Suppliers
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4.6.2 Bargaining Power of Consumers
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4.6.3 Threat of New Entrants
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4.6.4 Threat of Substitutes Products and Services
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4.6.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 End-User (Qualitative Analysis)
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5.1.1 Commercial
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5.1.2 Data Centers
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5.1.3 Others
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5.2 Geography
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5.2.1 North America
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5.2.2 Europe
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5.2.3 Asia-Pacific
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5.2.4 South America
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5.2.5 Middle-East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
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6.3.1 Aisin Seiki Co Ltd
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6.3.2 Bloom Energy Corp.
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6.3.3 Hexis S.A.
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Planar Solid Oxide Fuel Cell Industry Segmentation
The planar solid oxide fuel cell market report include:
| End-User (Qualitative Analysis) | |
| Commercial | |
| Data Centers | |
| Others |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle-East and Africa |
Planar Solid Oxide Fuel Cell Market Research FAQs
What is the current Planar Solid Oxide Fuel Cell Market size?
The Planar Solid Oxide Fuel Cell Market is projected to register a CAGR of greater than 10% during the forecast period (2024-2029)
Who are the key players in Planar Solid Oxide Fuel Cell Market?
Hexis S.A., Bloom Energy Corp. and Aisin Seiki Co Ltd are the major companies operating in the Planar Solid Oxide Fuel Cell Market.
Which is the fastest growing region in Planar Solid Oxide Fuel Cell Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Planar Solid Oxide Fuel Cell Market?
In 2024, the North America accounts for the largest market share in Planar Solid Oxide Fuel Cell Market.
What years does this Planar Solid Oxide Fuel Cell Market cover?
The report covers the Planar Solid Oxide Fuel Cell Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Planar Solid Oxide Fuel Cell Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Planar Solid Oxide Fuel Cell Industry Report
Statistics for the 2024 Planar Solid Oxide Fuel Cell market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Planar Solid Oxide Fuel Cell analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
