Solid Oxide Fuel Cell Market Driven by Increasing Demand for Efficient Power Generation are the Major Drivers That Would Trigger the Growth in the Market
The solid oxide fuel cell market is expected to grow at a CAGR of 13.88% from 2017 to 2025, to reach a market size of USD 1,140.6 million by 2025. Government subsidies and fuel cell programs, increasing demand for efficient power generation, and stringent emission norms in the US and Europe are the major factors driving the growth of solid oxide fuel cell market.
The solid oxide fuel cell market is...
Solid Oxide Fuel Cell Market Growing Thanks to Vast Applications
Solid oxide fuel cells (SOFCs) oxidize fuels to produce energy. These electrochemical conversion devices find vast applications across different industrial verticals. Advantages of the fuel cells include their higher efficiency, fuel flexibility, lower costs, environment friendly nature and stability. With all these characteristics of the products, the solid oxide fuel cell market is set to grow at...