According to recently published TechSci Research report “Asia-Pacific Solid Oxide Fuel Cells Market By Type, By Application, By Country, Competition Forecast and Opportunities, 2013-2023’’, Asia-Pacific solid oxide fuel cells market is projected to cross $ 700 million by 2023 on account of rising investments in low emission technologies in the region. Moreover, major companies developing SOFC systems with integration of various other technologies is on the rise in Asia-Pacific, which is expected to propel growth in the region’s solid oxide fuel cells market over the course of next five years. Additionally, government funded programs such as ENE-FARM in Japan, along with rising demand for energy efficient power generation is further expected to boost demand for SOFC technology in Asia-Pacific in the coming years.
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"Asia-Pacific Solid Oxide Fuel Cells Market"https://www.techsciresearch.com/report/asia-pacific-solid-oxide-fuel-cells-market/3388.html
Increasing concerns towards rising GHG emissions and rising inclination towards highly efficient power sources is expected to drive demand for SOFC in the coming years. In 2018, Hitachi Zosen Corp. installed an SOFC in Osaka, Japan as part of a demonstration test, which achieved a power generation efficiency rate of about 50%. Moreover, many countries are investing heavily in SOFC technology to enable efficient and cost-effective electricity generation while ensuring negligible emissions of carbon and other harmful pollutants into the atmosphere.
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“Nearly 30% more fuel cells were shipped throughout the world in 2017 as compared to 2016. Moreover, rising environmental concerns are further leading to technological advancements and heavy investments in SOFC technology, which is consequently augmenting their demand in Asia Pacific. Additionally, with increasing focus of major economies such as Japan, China, South Korea and India on protecting the environment, demand for SOFC technology is likely to increase in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Asia-Pacific Solid Oxide Fuel Cells Market By Type, By Application, By Country, Competition Forecast and Opportunities, 2013-2023” has evaluated the future growth potential of Asia-Pacific solid oxide fuel cells market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Asia-Pacific solid oxide fuel cells market.
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