BBC Report on SOFC Market
January 8, 2004
The fuel cell industry is one of the fastest growing segments of the power industry due to the need for reliable power sources for many applications. Market introduction of small or micro fuel cells is expected within the next couple of years for the high-end market, and solid oxide fuel cells (SOFCs) present one of the promising technology options for a whole range of applications. According to "RGB-282 Solid Oxide Fuel Cells," a soon-to-be-released report from Business Communications Co., Inc. (BCC), the global market for SOFCs is currently estimated at $123 million. The North American SOFC market is estimated to be around $67 million, or 55% of the market. This reflects an increase in SOFC funding, the number of units evaluated, R&D contracts and sales of about 21% compared to 2002. The global market is forecast to reach $335 million by 2008 with an average annual growth rate (AAGR) of 22.2% through the forecast period.
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