Driven by the unrelenting rise in petroleum and fossil fuel prices, rising concerns over environmental pollution, and the need for clean energy generation technologies, the world solid oxide fuel cells (SOFCs) market is projected to reach $443 million by the year 2010. Liberalization of the retail electricity industry, utility infrastructure restructuring, and changing public environmental policies are all expected to offer expanded market opportunities for SOFCs. The need for distributed power, and the expensiveness of upgrading the traditional transmission and distribution systems is additionally expected to offer a business case for the SOFC technology.
San Jose, CA (PRWEB) April 21, 2008 -- Rising economic activity, elevated standards of living, increasing population, and spread of industrialization, are all factors, which wield tremendous pressure on world energy requirements. Broadening knowledge of a wide spectrum of alternative energy technologies coupled with the deregulation of the energy industries worldwide, is helping alternative renewable energies to partake in the lucrative opportunities in the energy industry. With several advantages stacked in its favor, the Solid oxide fuel cells technology is expected to post strong gains in the upcoming years. Stationary power plants represent the largest application area for SOFCs.
The growing use of SOFCs, as a standalone unit, to generate onsite power for remote locations, is expected lend traction to the technology's overall demand, especially in stationary power applications. With research and development breakthroughs promising a reduction in operating temperatures of an SOFC, other small-scale application areas are also expected to contribute towards the demand for SOFCs in the upcoming years. Innovation in modular designs, and sophistication in architecture, and electrochemical processing are additionally expected to help SOFCs expand their application possibilities in portable power applications. Encouraged by the energy distribution drawbacks of large centralized grid systems, the waxing trend towards establishing customized, small-scale community and industrial energy generation plants is expected to spew ample growth opportunities in the SOFCs market.
World SOFCs market is dominated by Japan and other environment driven countries in North America, and Western Europe. North America spearheads the technology's commercialization, with the region housing a large number of active players and boasting an exhaustive list of products in the pipeline and under final stages of testing and demonstration. As stated by the recent report published by Global Industry Analysts, Inc., the Japanese market is forecast to grow at a CAGR of 8.81% over the period 2011 through 2015, while North America and Europe, together, are expected to post combined revenues to the tune of $393.02 million by the year 2012.
Leading global and regional players operating in the industry include Acumentrics Corporation, Acumentrics Canada Ltd, Adaptive Materials Inc., Adelan Ltd., Ceramic Fuel Cells Ltd., Cummins Power Generation Inc, Delphi Corporation, GE Hybrid Power Generation Systems, Global Thermoelectric, Inc., Rolls-Royce Plc, SOFCo-EFS Holdings LLC, Siemens Power Generation Inc, Hexis AG, and Ztek Corporation, among others.
The report titled "Solid Oxide Fuel Cells (SOFCs): A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of technology developments, market drivers, trends, issues, and challenges. Richly annotated with authoritative, and unbiased commentaries, and hard-to-find statistical facts, the report provides unequivocal views on future potential while throwing light on the prevailing climate in key regional markets. Latent demand patterns for solid oxide fuel cells (SOFCs) are quantified across major geographic market verticals including North America, Europe, and Japan. Also provided in the report is an enumeration of recent mergers, acquisitions, and other strategic industry activities.
For more details about this research report, please visit
http://www.strategyr.com/Solid_Oxide_Fuel_Cells_SOFCs_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
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