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The global solid oxide fuel cell market size is projected to reach USD 2,881 million by 2025, at a CAGR of 30.1%, from an estimated USD 772 million in 2020. Government subsidies and increased R&D on fuel cell programs; fuel flexibility and increasing demand for energy-efficient power generation and stringent emission norms in Europe & North America leading to demand for clean energy source are key factors likely to drive the solid oxide fuel cell market during the forecast period.

The small modular reactor market is expected to grow from an estimated in USD 9.7 billion in 2021 to USD 11.3 billion by 2026, at a CAGR of 3.2% during the forecast period. The low cost of SMRs due to modularization and factory construction and growing need for clean, reliable, and flexible power generation are the main drivers for the small modular reactor market. Factors such as decarbonization of the energy sector to meet decarbonization goals and integration of small modular reactors with variable renewable energy are expected to offer lucrative opportunities for the small modular reactor market during the forecast period. Moreover, Modularization of small modular reactor (SMR) has various benefits, such as shortened construction schedules; reductions in construction cost; opportunity for production learning and repeatability; improved constructability, efficient quality control, and assurance; and improved project cash flow. Factory production can use a higher degree of automation and employ other construction technologies.

The global Lithium Iron Phosphate Batteries market is expected to witness significant growth in the coming years due to the increasing demand for clean energy and the need for efficient energy storage systems. According to a report by MarketsandMarkets, the market is projected to reach USD 24.6 billion by 2027, growing at a CAGR of 13.7% during the forecast period.

The MOSFET relay market is driven by the growth of the increasing adoption of EVs. MOSFET relay relays are used in the batteries of EVs. According to International Energy Agency's Tracking Clean Energy Progress report, EV sales doubled and made up 9% of the car market by the end of 2021 with more cars being sold in the European and Chinese markets. The share of EV car sales is expected to grow by 6% annually until 2031 to reach net zero by 2050. The IEA's scenario for reaching net zero by 2050 sets out a milestone of EVs making up 60% of new car sales by 2030, with more than 300 million EVs on the road by that point. Due to such reasons, the growing EV market is likely to drive the demand of MOSFET relay relays.

The MOSFET relay market size is estimated to be USD 237 million in 2022 and is projected to reach USD 474 million by 2030, at a CAGR of 9.1% during the forecast period. The MOSFET relay market is driven by the growth of the increasing adoption of EVs. MOSFET relay relays are used in the batteries of EVs. According to International Energy Agency's Tracking Clean Energy Progress report, EV sales doubled and made up 9% of the car market by the end of 2021 with more cars being sold in the European and Chinese markets. The share of EV car sales is expected to grow by 6% annually until 2031 to reach net zero by 2050. The IEA's scenario for reaching net zero by 2050 sets out a milestone of EVs making up 60% of new car sales by 2030, with more than 300 million EVs on the road by that point. Due to such reasons, the growing EV market is likely to drive the demand of MOSFET relay relays.

Chicago, Aug. 08, 2024 (GLOBE NEWSWIRE) -- The global Hydrogen Compressors Market size is expected to grow from USD 2.1 billion in 2023 to USD 2.6 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 4.5% according to a new report by MarketsandMarkets™. The growth of the Hydrogen Compressors Market is propelled by various factors. A significant driver is the rising demand for hydrogen across diverse sectors, including energy generation, transportation, petrochemicals, and chemicals. This demand surge is a pivotal force behind the market's expansion. The push for clean energy solutions and the establishment of more hydrogen production plants and pipelines further contribute to the market's upward trajectory. Additionally, advancements in technology and the emergence of innovative hydrogen production methods, such as electrolysis using solar and wind power, present growth opportunities for the market. The Asia Pacific region is anticipated to take a leading role in the Hydrogen Compressor Market, driven by substantial demand from countries like China, India, and Japan. Despite the initial high costs associated with compressors, the increasing global demand for hydrogen and the ongoing development of hydrogen technology are key factors propelling the market's growth.

The MOSFET relay market size is estimated to be USD 237 million in 2022 and is projected to reach USD 474 million by 2030, at a CAGR of 9.1% during the forecast period. The MOSFET relay market is driven by the growth of the increasing adoption of EVs. MOSFET relay relays are used in the batteries of EVs. According to International Energy Agency's Tracking Clean Energy Progress report, EV sales doubled and made up 9% of the car market by the end of 2021 with more cars being sold in the European and Chinese markets. The share of EV car sales is expected to grow by 6% annually until 2031 to reach net zero by 2050. The IEA's scenario for reaching net zero by 2050 sets out a milestone of EVs making up 60% of new car sales by 2030, with more than 300 million EVs on the road by that point. Due to such reasons, the growing EV market is likely to drive the demand of MOSFET relay relays.

China stocks in Hong Kong fell in line with global markets after Moody's credit rating agency panned Europe's latest effort to address its debt crisis.

While sub-Saharan Africa has seen robust economic growth, access to electricity is lagging behind. Shadow Business Secretary Chuka Umunna has called on British industry to support the development of renewable energy in Africa, highlighting the economic value of establishing a firm base in the continent.

The fuel cells market growth is attributed to the rising demand for clean energy generation in developed regions, increased use of fuel cell-based vehicles, booming power sector, and augmented power generation capacities globally.

Armed with an economically robust and environmentally business model, IBAgreen looks to address the dangers of overwhelmed landfills and the nations deteriorating infrastructure.

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The global fuel cells market with focus on advcens in fuel cell technology market size is expected to grow from estimated revenue of USD 263 million in 2020 to USD 848 million by 2025, at a CAGR of 26.4% during the forecast period. The market has been analysed with key focus on advancements in fuel cell technologies such as PEMFC, PAFC, AFC, and MFC. The growing demand for clean power generation in developed regions and the increased use of fuel cell-powered vehicles are some of the factors driving the growth of the in fuel cell technology industry.