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Asia Pacific Solid Oxide Fuel Cell Market Share

Report ID: GMI7321
Published Date: Nov 2024
Report Format: PDF

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Asia Pacific Solid Oxide Fuel Cell Market Share

Asia Pacific Solid Oxide Fuel Cell Company Market Share

The Asia Pacific solid oxide fuel cell industry is rapidly evolving, fueled by rising energy demands, heightened environmental consciousness, and a robust commitment to clean and sustainable energy solutions. Several companies in the region are either manufacturing SOFCs, conducting research and development, or deploying the systems for utilization across various applications.

Asia Pacific Solid Oxide Fuel Cell Market Companies

Eminent players operating in the Asia Pacific solid oxide fuel cell industry are:

Aisin Corporation
Ballard Power Systems
Bloom Energy
Cummins
Doosan Fuel Cell
Fuel Cell Energy
Fuji Electric
Hyundai Motor Company
Nuvera Fuel Cells
Plug Power
Panasonic Corporation
Robert Bosch
SFC Energy
Toshiba Corporation
TW Horizon Fuel Cell Technologies

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The Asia Pacific market for solid oxide fuel cell was reached USD 1.06 billion in 2024 and is estimated to grow at a 9.7% CAGR from 2025 to 2034, driven by rising demand for unconventional energy sources and robust R&D initiatives.

The planar segment is anticipated to exceed USD 1.5 billion by 2034, owing to its ability to operate on diverse fuel sources and provide grid support and backup power during outages.

The transport segment is expected to grow at a CAGR of 13% through 2034, supported by on-site power generation, minimized transmission losses, and improved energy efficiency.

Japan's solid oxide fuel cell market is projected to surpass USD 1.3 billion by 2034, led by growing product innovation, rising adoption of hydrogen as a fuel source, and government-backed regulatory frameworks.

Key players in the Asia Pacific solid oxide fuel cell industry include Aisin Corporation, Ballard Power Systems, Bloom Energy, Cummins, Doosan Fuel Cell, Fuel Cell Energy, Fuji Electric, Hyundai Motor Company, Nuvera Fuel Cells, Plug Power, Panasonic Corporation, Robert Bosch, SFC Energy, Toshiba Corporation, and Tw Horizon Fuel Cell Technologies.