Solid Oxide Fuel Cell Market
The global solid oxide fuel cell market size stood at USD 0.53 billion in 2018 and is projected to reach USD 2.00 billion by 2026, exhibiting a CAGR of 18.3% during the forecast period. Solid oxide fuel cells (SOFC) are devices installed with a ceramic membrane aiding them to conduct ions and flow currents at higher temperatures. They are electrochemical units that utilize non-porous & solid metal oxide electrolytes to convert chemical energy into thermal energy and electricity using hydrogen fuel. These units are readily used across various applications owing to their ability to operate at elevated temperatures, stability, high efficiency, and acceptability of various types of fuels.
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