Global Planar Solid Oxide Fuel Cell Market Expected to Grow at 11.4% CAGR During 2016 - 2022: P&S Market Research

NEW YORK, June 30, 2016 /PRNewswire/ --

According to market research "Global Planar Solid Oxide Fuel Cell Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Component (Planar Cells, Separator Plates, Seals, Manifolds, Others), by Application (Portable, Stationary, Transportation)" by P&S Market Research, the global planar solid oxide fuel cell market was valued at $379.91 million in 2015, and it is expected to grow at a CAGR of 11.4% during 2016 - 2022.

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The major factors driving the growth of the market globally include need for high electrical efficiency, growing biomass utilization, military applications, transportation, and small stationary applications. The current planar solid oxide fuel cell market is limited to a few major regions, with various technological advancement and research work in progress. The multinational companies and reputed research organizations mainly in North America, Europe, and Asia-Pacific, are investing in R&D of planar SOFC. The longer start-up time and high capital investment are few factors restraining the growth of the market. Asia-Pacific is expected to create significant growth opportunities for the global planar solid oxide fuel cell market. North America was the second largest market in the global market, followed by Europe and held a market share of 36.9% and 16% respectively in 2015.

Explore Full Market Research Report on "Global Planar Solid Oxide Fuel Cell Market" at: https://www.psmarketresearch.com/market-analysis/planar-solid-oxide-fuel-cell-market

In 2015, Asia-Pacific held the largest share in the global planar solid oxide fuel cell market with 40.4% share in terms of value, and is expected to grow at CAGR of 11.6% during the forecast period. The growing interest towards usage of eco-friendly power source and government policies for energy sustainability is promoting the growth of the global planar solid oxide fuel cell market in the region. The demand for alternative electric power generation technologies and government's preference towards distributed power generation are the major growth drivers for the planar solid oxide fuel cell market. North America is expected to witness significant growth at a CAGR of 11.5% during the forecast period.

Some of the major competitors in the global planar solid oxide fuel cell market include Fuel Cell Energy, Aisin Seiki Corporation Limited, Ultra Electronics AMI, Ceres Power Holdings PLC, Protonex Technology Corporation, SOFC Power S.P.A., Ceramic Fuel Cells Limited, Convion Fuel Cells Ltd, Hexis AG, and others.

Explore Related Research at: https://www.psmarketresearch.com/industry-report/chemicals-materials-and-energy

GLOBAL PLANAR SOLID OXIDE FUEL CELL MARKET SEGMENTATION 

By Component 

• Planar Cells
• Separator Plates
• Seals
• Manifolds
• Others

By Application 

• Portable
• Stationary
• Transportation

GEOGRAPHICAL SEGMENTATION 

> North America
- U.S.
- Canada
- Rest of North America

> Europe
- Germany 
- France 
- U.K
- Italy
- Spain 
- Rest Of Europe

>  Asia-Pacific

- China
- Japan 
- India
- South Korea
- Rest of Asia-Pacific

> Rest of the World

- Brazil

- South Africa

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SOURCE P&S Market Research