Japan to Continue Dominating Asia Pacific Solid Oxide Fuel Cells Market
Rising demand for non-conventional sources of electricity generation and rising research & development to make solid oxide fuel cells economical to propel their demand through 2023
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.
Browse 48 market data
Tables and Figures spread through 60 Pages and an in-depth TOC on"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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