According to a recently published TechSci Research report “SouthAmerica & MEA Solid Oxide Fuel Cells Market By Type, By Application, By Country, Competition Forecast and Opportunities, 2013-2023’’, South America & MEA solid oxide fuel cells market is projected to witness a CAGR of over 11% until 2023 on account of rising user adoption due to incentives provided by governments of various countries on solid oxide fuel cells. Negligible use of liquid electrolyte in solid oxide fuel cells is also driving demand for these cells in South America & MEA. Furthermore, public-private collaborations to promote solid oxide fuel cells are increasing, which is further anticipated to steer growth in South America & MEA solid oxide fuel cells market during the forecast period.
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Among all the countries in South America and MEA region, a large demand for solid oxide fuel cells emanates from Brazil. 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. On the basis of type, South America & MEA SOFC market is broadly segmented into tubular and planar, of which, the tubular segment accounts for the majority share in the market. The segment is anticipated to maintain its dominance during forecast period as well.
“An increasing number of SOFCs are being shipped throughout the world year after year, indicating rising consumer inclination towards these cells. Moreover, rising environmental concerns has resulted in technological advancements and growing investments in SOFC technology, thereby fuelling growth in South America & MEA market. Additionally, various technological developments taking place in SOFC market, such as emergence of ultra-high temperature anode recycle blower for solid oxide fuel cells, would further steer growth in the market over the next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“South America & MEA Solid Oxide Fuel Cells Market By Type, By Application, By Country, Competition Forecast and Opportunities, 2013-2023” has evaluated the future growth potential of South America & MEA solid oxide fuel cells market and provides statistics and information on market size, structure and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in South America & MEA solid oxide fuel cells market.
