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Planar Solid Oxide Fuel Cell Market Trends

Report ID: GMI12178
Published Date: Nov 2024
Report Format: PDF

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Planar Solid Oxide Fuel Cell Market Trends

Advancements in electrolyte materials, innovations in composite materials and new formulations, and ongoing research into low-temperature SOFCs aiming to improve longevity, reduce energy consumption during startup, and enable the use of less expensive materials will strengthen the product landscape. Advances in stack design and assembly techniques will lead to more efficient configurations that maximize power output while minimizing resistance, thereby driving the market scenario.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The global market for planar solid oxide fuel cell was reached USD 1.04 billion in 2024 and is estimated to grow at a 7.3% CAGR from 2024 to 2034, driven by the rising demand for clean energy.

The stationary segment is anticipated to reach more than USD 1.45 billion by 2034, due to their compact design and efficient operation in various locations, including urban and remote settings.

The power generation segment is expected to grow at over 8% CAGR through 2034, benefiting from the flat, layered structure that allows for a smaller footprint and high efficiency.

The North America planar solid oxide fuel cell market is projected to surpass USD 396 million by 2034, propelled by a growing emphasis on reducing greenhouse gas emissions and transitioning to renewable energy sources.