Market Overview:
Solid oxide fuel cells transform a fuel’s and oxidant’s chemical energy into electrical energy. It is a one-of-a-kind electrochemical device because they generate electricity through an electrochemical reaction rather than combustion.
A ‘fuel cell unit’ and a ‘hot storage tank and additional boiler unit’ are the two sections of a solid oxide fuel cell. The fuel cell device produces electricity while also recovering heat from the exhaust as hot water. The recovered hot water is stored in the hot storage tank and auxiliary boiler unit to provide hot water.
Market Size Growth Rate:
As per the research report published by DataM Intelligence, the Solid Oxide Fuel Cell market in North America was valued at USD YY Million in 2021; it is projected to reach USD YY Million by 2029, with growth at a CAGR of YY% over the forecast period 2022-2029. One of the key drivers is the rise of private-public partnerships. The ability of solid oxide fuel cells (SOFC) to produce electricity using a variety of fuels has led to their rapid growth as one of the alternative backup power choices. Additionally, they are environmentally friendly because their byproduct is safe, unlike other traditional methods.
Furthermore, for industries like transportation and power generation, U.S. was a pioneer in implementing sustainable energy solutions due to the greater significance given to renewable energy options under U.S. government’s energy act. Thus such actions have provided a starting guideline regarding implementing clean energy solutions in the country’s energy sector, leading to escalating the market share of the North America Solid Oxide Fuel Cell Market.
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Market Drivers
With the innovative technologies, growing research and product launches, North America Solid Oxide Fuel Cell Market is predicted to grow. Various governmental and commercial collaborative activities to produce new products with superior characteristics have been noted in the solid oxide fuel cell (SOFC) market. Moreover, some top research groups from various educational institutions have launched new enterprises to execute R&D projects focused on technology.
Market Restraints
For the electro-catalytic oxidation of methane, LP gas and other natural gas-based fuels to produce electricity, SOFC is a complicated integration of several chemical ingredients. Since the fundamental chemical reaction is an exothermic process, SOFC normally runs at extremely high temperatures, typically between 700°C and 1,200°C. At these temperatures, conventional ceramic electrolytes are inefficient; hence yttria-stabilized zirconia (YSZ) is needed as an electrolyte. Additionally, a US research institution’s investigation found that using YSZ composite electrodes along with the electrolyte improves cell performance even more. Zirconium is an element with characteristics similar to those of titanium and a very high melting point of 1,852°C
However, the price of zirconium is nearly twice as expensive per unit as regular ceramic-based electrolytes. Thus, the price of manufacturing and installing fuel cells is a key barrier to this market.
Market Opportunities
Traditionally, fossil fuel-based energy sources have met the rising demand for regional technical and industrial growth. However, as the demand and energy consumption increased, a regional energy crunch befell humans, causing the gas, coal and electricity prices to surge to their highest levels in decades.
For instance, in U.S., natural gas prices have tripled since October 2020 to reach their highest level since 2008. Global coal prices were currently around five times their respective prices in 2020. Furthermore, fossil fuels contribute to climate change. For these reasons, experts have been trying for decades to develop alternative energy resources that are clean, economical, highly efficient, secure and long-term.
Since solid oxide fuel cells generate electricity through an electrochemical reaction involving fuel and an oxidant substance and are capable of directly converting chemical energy into electrical energy without much pollution, the growing energy crunch and demand for cleaner sources of energy production shimmers a great opportunity for the market to grow and flourish in the future.
COVID-19 Impact Analysis
The COVID-19 pandemic moderately impacted the North America solid oxide fuel cell sector because of three key factors: The supply chain was the first and most severe impact on the market, affecting raw material availability and end product sales.
Second, solid oxide fuel cell manufacture involves various manufacturing and purification procedures, which have been severely hampered by the COVID-19 pandemic’s lockdowns and government controls. The interruption of essential end-user industries’ export and import activities includes food and beverage production and oil production. Due to the general drop in end-user activity, market demand for solid oxide fuel cells was lowered, influencing demand-supply dynamics.
Market Challenges:
Solid oxide fuel cells have several advantages compared to other fuel cells. However, these benefits stem from the fuel selection flexibility, the ability to run SOFCs directly on practical hydrocarbon fuels and improved overall efficiency.
However, the growing commercialization of solid oxide fuel cells is troublesome due to two factors. First, the high operating temperature of SOFCs causes material concerns for each SOFC component, such as electrolyte sintering and electrode catalyst poisoning and interfacial difficulty between components due to varying coefficients of thermal expansion for each cell.
Second, SOFCs in some applications take time to heat up and cool down the system. The necessity to use a relatively weak, brittle component as the substrate material and limits linked to thermal expansion mismatches cause the effects mentioned above, thereby restricting the use of SOFCs in applications that need rapid temperature oscillations, such as transportation, where quick startup and cool-down are critical.
Recent Developments in the Industry:
- On December 20, 2021, Bloom Energy announced that NTPC Limited, the Indian state-owned energy producer, has selected Bloom Energy’s Energy Server to power India’s first hydrogen microgrid. The project is expected to commence in early 2022 in Vishakhapatnam, India.
Market Segmentation:
As per the research analysis, North America’s Solid Oxide Fuel Cell market is segmented by type into planar and tubular. By technology into solid oxide electrolyzer cell (SOEC), intermediate temperature solid oxide fuel cell (IT-SOFC), low-temperature solid oxide fuel cells (LT-SOFC), direct carbon fuel cell (DCFC) and others. By electrolyte type into polymer electrolyte, solid ceramic electrolyte and others. By Capacity into Less Than 20 mAh, 20-500 mAh and More than 500 mAh. By fuel into hydrogen, biogas, ethanol, methanol, propane, methane and others. By Application into stationary, transportation and portable. By end-user into power generation, residential and commercial, military, retail, data center and combined heat and power
- Planar- A series of cell components are constructed as thin, flat plates in the planar design and then electrically coupled to provide desired electrochemical performance. The planar cells can be electrode-supported, electrolyte-supported or metal-supported. Each of these designs can also have various interesting variants. For example, the planar SOFC can be a circular disc fed with fuel from the central axis or a square plate from the edges.
- Tubular- Tubular Solid Oxide Fuel Cells (TSOFCs) have several advantages over conventional SOFCs, including faster startup and fewer sealing requirements, encouraging greater commercialization attempts. Tubular SOFCs shaped in various diameters and lengths have common traits belonging to SOFCs. They can simply the requirement of sealing, effectively shorten startup time, elevate tolerance to long-term thermal cycling and realize higher volumetric output density and portable characteristics. The features enable the more extensive application of tubular SOFCs, representing a potential candidate for auxiliary power units, particularly in transportable and portable power devices.
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Geographical Classification:
According to the report, North America Solid Oxide Fuel Cell market is divided into the major countries, i.e., U.S., Canada & Mexico.
North America Industrial Gas Turbine Market:
The rising demand for fuel cell power generation and increased research and development for hydrogen generation can be ascribed to the country’s expansion. Government policies and subsidies, including the Department of Energy’s (DoE) Solid State Energy Conversion Alliance (SECA) Program, are also major drivers of industry expansion in North America.
Furthermore, the growing North American fuel cell market adds value to the region’s market growth. The fuel cell market is very conducive to investments, with various research projects getting commercialized. In North America, U.S. Navy and Army are two of the most dynamic markets for fuel cell producers.
U.S.: U.S. holds the largest market share of the North American solid oxide fuel cell market. It is expected to maintain its market growth momentum in the forecast period due to rising government initiatives to support the fuel cell market and the presence of key players for the product in the country.
Canada: The growing need for technology that sustains industrial growth and advances the sustainable development of Canada’s economy while simultaneously decreasing the environmental footprint is extremely important for the country. Thus, overcoming the difficulty leads to the rising adoption of solid oxide fuel cell (SOFC) technology, which involves the extremely efficient and clean conversion of chemical energy from a wide range of Canadian fuels to electrical energy.
Mexico: Mexico holds a small share in the North American solid oxide fuel cell market compared to Canada. In Mexico City, 71% of the total harmful emissions are from cars and buses’ internal combustion engines. Thus, reducing the growing harmful emissions leads to the demand for fuel cells (FCs) in the transportation and stationary power generation sectors in Mexico City and the rest of the country to attain acceptable air quality criteria.
Competitive Analysis:
The major players are adopting several growth strategies such as product launches, innovative technologies, acquisitions and collaborations, contributing to the growth of Solid Oxide Fuel Cell in the North America market. For example, on August 23, 2021, Special Power Sources was selected for phase I funding by U.S. Department of Energy (DoE) on Small Business Innovation Research (SBIR). The company’s winning proposal was a proton conductive ceramic reversible fuel cell for energy storage.
Major Companies:
Some key companies contributing to the market’s growth include Bloom Energy, Special Power Sources, Watt Fuel Cell Corporation and others.
Additional Benefits Post Purchase:
1) Unlimited Analyst support for a period of 1 year.
2) Any query regarding the scope offered will be addressed within 24- 48 hours.
3) An excel sheet with market numbers will be provided separately.
The Full Report has the below insights.
- The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021) and verifiable market size projections (2022-2029).
- Visualize the composition of North America Solid Oxide Fuel Cell market segmentation by type, technology, electrolyte type, capacity, fuel, applications, end-user and country, highlighting the key commercial assets and players.
- By Type: Planar and Tubular
- By Technology: Solid Oxide Electrolyser Cell (SOEC), Intermediate Temperature Solid Oxide Fuel Cell (IT-SOFC), Low-temperature solid oxide fuel cells (LT-SOFC), Direct Carbon Fuel Cell (DCFC) and Others
- By Electrolyte Type: Polymer Electrolyte, Solid Ceramic Electrolyte and Others
- By Capacity: Less Than 20 mAh, 20-500 mAh and More than 500 mAh
- By Fuel: Hydrogen, Biogas, Ethanol, Methanol, Propane, Methane and Others
- By Application: Stationary, Transportation and Portable
- By End-User: Power Generation, Residential and Commercial, Military, Retail, Data Center and Combined Heat and Power
- By Country: U.S., Canada, Mexico
- Identify commercial opportunities in North America Solid Oxide Fuel Cell Market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as porter’s five forces, regulations in each country, reimbursement scenario, technological advancements, PEST analysis and pricing analysis.
- Excel data sheet with thousands of North America Solid Oxide Fuel Cell Market-level 4/5 segmentation data points.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
- The report will provide access to approximately 50+ market data tables, 40+ figures and close to 180 pages.
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