Solid Oxide Fuel Cell Market Size & Share, by Type (Planar, Tubular), Mobility (Stationary, Portable), Application (Combined Heat & Power, Power Generation), End-user (Data Centers, Commercial & Retail, Residential) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2031

  • Report ID: 3514
  • Published Date: Jul 28, 2023
  • Report Format: PDF, PPT

Global Solid Oxide Fuel Cell Market

  1. Market Definition and Research Methodology
    1. Market Definition
    2. Market Segmentation
    3. Market Size Methodology
  2. Assumptions and Acronyms
  3. Research Methodology
    1.  Research Process
    2. Primary Research
    3. Secondary Research
  4. Executive Summary – Global Solid Oxide Fuel Cell Market
  5. Market Dynamics
    1.  Market Drivers
    2. Restraints
    3. Opportunities
    4. Trends
  6. Regulatory and Standards Landscape
  7. Industry Risk Analysis
  8. Impact of COVID-19 on the Solid Oxide Fuel Cell Market
  9. Technology Analysis
  10. Value Chain Analysis
  11. Industry Growth Outlook
  12. Pricing Analysis
  13. Regional Demand Analysis
  14. Comparative Analysis
  15. Competitive Positioning
  16. Competitive Landscape
    1. Market Share Analysis, 2021
    2. Competitive Benchmarking
      1. Kyocera Corporation
      2. SolydEra
      3. Elcogen AS
      4. Fuel Cell Energy
      5. POSCO Energy
      6. H2E Power
      7. ZTEK Corporation
      8. Sunfire
      9. Doosan Fuel Cell
      10. Bloom Energy
      11. Mitsubishi Power
      12. Aisin Seiki Co
      13. Ceres Power
      14. Hitachi Zosen
  17. Global Solid Oxide Fuel Market 2021-2031
    1. Market Overview
    2. By Value (USD Million)
    3. By Volume (Thousand Units)
    4. Global Solid Oxide Fuel Cell Market-Market Segmentation Analysis 2021-2031
      1. By Type
        1. Planar, 2021-2031F (USD Million & Thousand Units)
        2. Tubular, 2021-2031F (USD Million & Thousand Units)
      2. By Mobility
        1. Stationary, 2021-2031F (USD Million & Thousand Units)
        2. Portable, 2021-2031F (USD Million & Thousand Units)
      3. By Application
        1. Combined Heat & Power, 2021-2031F (USD Million)
        2. Power Generation, 2021-2031F (USD Million)
        3. Others, 2021-2031F (USD Million)
      4. By End User
        1. Data Centers, 2021-2031F (USD Million)
        2. Commercial & Retail, 2021-2031F (USD Million)
        3. Residential, 2021-2031F (USD Million)
        4. Others, 2021-2031F (USD Million)
      5. Global Solid Oxide Fuel Cell Market by Region
        1. North America, 2021-2031F (USD Million & Thousand Units)
        2. Latin America, 2021-2031F (USD Million & Thousand Units)
        3. Europe, 2021-2031F (USD Million & Thousand Units)
        4. Asia Pacific, 2021-2031F (USD Million & Thousand Units)
        5. Middle East & Africa, 2021-2031F (USD Million & Thousand Units)
  18. Cross Analysis of Type w.r.t End User, 2021
  19. North America Solid Oxide Fuel Cell Market 2021-2031
    1. Leading Players in the Region
    2. By Value (USD Million)
    3. By Volume (Thousand Units)
      1. By Type
        1. Planar, 2021-2031F (USD Million & Thousand Units)
        2. Tubular, 2021-2031F (USD Million & Thousand Units)
      2. By Mobility
        1. Stationary, 2021-2031F (USD Million & Thousand Units)
        2. Portable, 2021-2031F (USD Million & Thousand Units)
      3. By Application
        1. Combined Heat & Power, 2021-2031F (USD Million)
        2. Power Generation, 2021-2031F (USD Million)
        3. Others, 2021-2031F (USD Million)
      4. By End User
        1. Data Centers, 2021-2031F (USD Million)
        2. Commercial & Retail, 2021-2031F (USD Million)
        3. Residential, 2021-2031F (USD Million)
        4. Others, 2021-2031F (USD Million)
      5. By Country
        1. U.S., 2021-2031F (USD Million & Thousand Units)
        2. Canada, 2021-2031F (USD Million & Thousand Units)
  20. Europe Solid Oxide Fuel Cell Market 2021-2031
    1. Leading Players in the Region
    2. By Value (USD Million)
    3. By Volume (Thousand Units)
      1. By Type
      2. By Mobility
      3. By Application
      4. By End-User
      5. By Country
        1. U.K., 2021-2031F (USD Million & Thousand Units)
        2. Germany, 2021-2031F (USD Million & Thousand Units)
        3. Italy, 2021-2031F (USD Million & Thousand Units)
        4. France, 2021-2031F (USD Million & Thousand Units)
        5. Spain, 2021-2031F (USD Million & Thousand Units)
        6. Russia, 2021-2031F (USD Million & Thousand Units)
        7. Netherland, 2021-2031F (USD Million & Thousand Units)
        8.  Rest of Europe, 2021-2031F (USD Million & Thousand Units)
  21. Asia Pacific Solid Oxide Fuel Cell Market 2021-2031
    1. Leading Players in the Region
    2. By Value (USD Million)
    3. By Volume (Thousand Units)
      1. By Type
      2. By Mobility
      3. By Application
      4. By End-User
      5. By Country
        1. Australia, 2021-2031F (USD Million & Thousand Units)
        2. Japan, 2021-2031F (USD Million & Thousand Units)
        3. Singapore, 2021-2031F (USD Million & Thousand Units)
        4. South Korea, 2021-2031F (USD Million & Thousand Units)
        5. India, 2021-2031F (USD Million & Thousand Units)
        6. China, 2021-2031F (USD Million & Thousand Units)
        7. Rest of Asia Pacific, 2021-2031F (USD Million & Thousand Units)
  22. Latin America Solid Oxide Fuel Cell Market 2021-2031
    1. Leading Players in the Region
    2. By Value (USD Million)
    3. By Volume (Thousand Units)
      1. By Type
      2. By Mobility
      3. By Application
      4. By End-User
      5. By Country
        1. Brazil, 2021-2031F (USD Million & Thousand Units)
        2. Argentina, 2021-2031F (USD Million & Thousand Units)
        3. Mexico, 2021-2031F (USD Million & Thousand Units)
        4. Rest of Latin America, 2021-2031F (USD Million & Thousand Units)
  23. Middle East & Africa Solid Oxide Fuel Cell Market 2021-2031
    1. Leading Players in the Region
    2. By Value (USD Million)
    3. By Volume (Thousand Units)
      1. By Type
      2. By Mobility
      3. By Application
      4. By End-User
      5. By Country
        1. GCC, 2021-2031F (USD Million & Thousand Units)
        2. Israel, 2021-2031F (USD Million & Thousand Units)
        3. South Africa, 2021-2031F (USD Million & Thousand Units)
        4. Rest of Middle East & Africa, 2021-2031F (USD Million & Thousand Units)
  24. Bibliography

Global Market Size, Forecast, and Trend Highlights Over 2023-2031

Solid Oxide Fuel Cell Market size is estimated to surpass USD 11.09 Billion by the end of 2031, growing at a CAGR of 26.4% during the forecast period, i.e., 2022-2031. In the year 2021, the industry size of solid oxide fuel cell was around USD 1.07 Billion. The growth of the market is due to the new market opportunities in different applications. SOFCs are developed as a source of efficient, low-cost electricity as reversible SO cells, and as solid oxide electrolyzers (SOEC), from natural gas distributed power generation, which have many applications in distributed generation, energy storage, telecom backup, combined heat and power, sensors, power to chemicals and fuels, data centers, ships, and others.

Moreover, the increased adoption of solid oxide fuel cells in data centers is driving their demand across the globe. It provides high-efficiency electricity to data centers while utilizing current natural gas infrastructure for fuel. For instance, there are nearly three million data centers in the United States.


Solid Oxide Fuel Cell Market
Get more information on this report: Request Free Sample PDF

Solid Oxide Fuel Cell Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Government Initiatives and R&D on Solid Oxide Fuel Cell Programs – The increasing government incentives for fuel cells support solid oxide fuel cells market growth. In the United States, several programs for fuel cells provide various incentives for the purpose of fuel cell installations which leads to solid oxide fuel cells and other fuel installations in the country. For instance, the Office of Fossil Energy (FE), U.S. Department of Energy, has chosen two projects to receive roughly USD 2.8 million in federal support for cost-shared research and development projects. The initiatives will develop solid oxide fuel cell (SOFC) technology and get us closer to providing cost-competitive fossil-based power generation with almost no emissions. Besides, in September 2020, the U.S. Department of Energy (DOE) announced the selection of 12 projects to receive approximately USD 34 million for small-scale solid oxide fuel cell systems.
  • Increasing Demand for Energy-Efficient Technology – The solid oxide fuel cell market growth is due to the rising awareness regarding harmful carbon emissions and the increasing implementation of low-carbon technologies. SOFC system can offer an overall efficiency of up to 90 percent in renewable energy resources. For instance, in April 2021, the International Energy Agency (IEA) released its World Energy Review 2021. According to this data from the IEA, the generation of electricity from renewable sources expanded by almost 7% in 2020, while the consumption of clean energy grew by about 3%.
  • Increasing Mergers and Acquisitions – For instance, the Fayetteville Public Works Commission (PWC) announced in May 2022 that it had reached an agreement with Bloom Energy to design the installation and operation of 1.5 megawatts of solid oxide fuel cells. The new project will cut emissions and enhance the municipality of Fayetteville's attempts to achieve North Carolina's clean energy criteria. The system generates power from numerous biogas streams, and the fuel cell installation will be situated next to PWC's P.O. Hoffer Water Treatment Center.

Challenges

  • High Capital Cost Associated with Solid Oxide Fuel Cell - A solid oxide fuel cell is an intricate synthesis of multiple chemical components that electrocatalytically oxidizes methane, LPG, and other natural gas-based fuels to generate electricity. Since, the fundamental chemical reaction is exothermic, SOFC runs at extremely high temperatures, typically between 700°C-1,200°C. Conventional ceramic electrolytes are ineffective at these temperatures. Yttria-stabilized zirconia (YSZ) is therefore required as an electrolyte. Zirconium possesses properties that resemble those of titanium and a melting point of 1,852 °C. Zirconium, however, costs about twice as much per unit as usual ceramic-based electrolytes.

  • Storage Problems Associated with Hydrogen as a Fuel for Solid Oxide Fuel Cells
  • Development of Alternative Fuel Cells

Solid Oxide Fuel Cell Market: Key Insights

Base Year

2021

Forecast Year

2022-2031

CAGR

26.4%

Base Year Market Size (2021)

USD 1.07 Billion

Forecast Year Market Size (2031)

USD 11.09 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Singapore, South Korea, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, Netherland, Rest of Europe)
  • Middle East and Africa (Israel, GCC, South Africa, Rest of the Middle East and Africa)
Get more information on this report: Request Free Sample PDF

Solid Oxide Fuel Cell Segmentation

Type (Planar, Tubular)

The planar segment in the solid oxide fuel cell market is estimated to gain a significant revenue share over the projected time frame. By the end of 2031, the planar segment is anticipated to garner a revenue of USD 7.04 billion. The uncomplicated geometry and relatively simple construction method are credited with contributing to the emergence of the planar solid oxide fuel cell. Planar solid oxide fuel cells are a preferred choice for power backup and voltage variations due to their high efficiency, large capacity, and continuous power generation capability. Planar SOFCs reach larger power densities than tubular SOFCs. For instance, Elcogen AS provides solid oxide cells which are compatible with third-party stacks. These are anode-supported, planar, ceramic cells. The operating temperature of the cell which is low i.e., (650°C) allows for extended lifetimes and the use of low-cost components at the stack and system levels.

End-User (Data Centers, Residential, Commercial & Retail)

By the end of 2031, the commercial & retail segment in the solid oxide fuel cell market is anticipated to garner a revenue of USD 5.07 billion. The segment is further expected to grow at a CAGR of 27.5% during the forecast period. The expansion of this market sector is driven by rising energy demand from these industries while lowering emissions. Due to their affordability, compact size, and quiet operation, solid oxide fuel cells (SOFCs) are the perfect source of energy for commercial customers. Thermal integration with current boilers and HVAC systems is also possible due to the high-temperature waste heat from SOFC. For instance, German company Bosch has created a solid oxide fuel cell (SOFC) system for business and industrial uses and is prepared to ramp up manufacturing in 2024. This system can run on hydrogen, natural gas, biomethane, or different blendings, with an electrical efficiency of greater than 60% and an overall efficiency of approximately 85%.

Our in-depth analysis of the global solid oxide fuel cell market includes the following segments:

          Type

  • Planar
  • Tubular

           Mobility

  • Stationary
  • Portable

           Application

  • Combined Heat & Power
  • Power Generation

           End User

  • Data Centers
  • Commercial & Retail
  • Residential

Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.

Customize this Report

Solid Oxide Fuel Cell Industry - Regional Synopsis

APAC Market Forecast

The Asia Pacific solid oxide fuel cell market is projected to grow at a significant CAGR of 27%. The Asia Pacific market is projected to account for USD 6.25 billion by the end of 2031. The growth in the market is credited to the new plans launched for the adoption of solid oxide fuel cells. For instance, programs funded by the government such as ENE-FARM in Japan, along with rising demand for energy-efficient power generation likely to boost the growth of the market. Furthermore, the research and development for the technology of SOFC is continuously rising, further boosting the market growth in the region. For instance, a new department was formed in CSIR-CGCRI, Kolkata, India known as “Fuel Cell & Battery (FCB)” to develop viable technologies in different important and upcoming areas in the non-conventional energy sector namely solid oxide fuel cell (SOFC).

North American Market Statistics

The market in North America is estimated to witness tremendous growth with a gain of USD 3.03 billion throughout the forecast period. The growth of the solid oxide fuel cell market in the region is owing to the mounting energy demand, rapid urbanization, and increasing use of electricity, especially extracted from renewable sources. For instance, according to the U.S. Energy Information Administration, total U.S. electricity consumption in 2022 was 14 times greater than electricity use in 1950 equivalent to approximately 4.05 trillion kWh. Besides, in 2021, annual energy production was equal to 97.78 quads and consumption equaled 97.33 quads. Furthermore, about 61% of total electricity generation in 2021 in the United States was produced from fossil fuels. The electric power sector is a large source of CO2 emissions in the country and emitted about 32% of total U.S. energy-related CO2 emissions in 2021.

Research Nester
Solid Oxide Fuel Cell Market SIze
Get more information on this report: Request Free Sample PDF

Companies Dominating the Solid Oxide Fuel Cell Landscape

top-features-companies
    • Kyocera Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • SolydEra
    • Elcogen AS
    • Fuel Cell Energy
    • POSCO Energy
    • H2E Power
    • ZTEK Corporation
    • Sunfire
    • Doosan Fuel Cell
    • Bloom Energy
    • Mitsubishi Power
    • Aisin Seiki Co
    • Ceres Power
    • Hitachi Zosen

In the News

  • Fayetteville Public Works Commission (PWC) reached an agreement with Bloom Energy to design the installation and operation of 1.5 megawatts of solid oxide fuel cells.
  • Kyocera Corporation announced its plan to construct new R&D center in Kagoshima, Japan. The company established a new platform to accelerate the development of cell stacks for SOFCs, ceramic packages for electronic devices, and laminated ceramic capacitors.

Author Credits:  Dhruv Bhatia


  • Report ID: 3514
  • Published Date: Jul 28, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing government initiatives and R&D on solid oxide fuel cell programs and the growing demand for energy-efficient technology are the major factors driving the market growth.

The market is anticipated to attain a CAGR of 26.4% over the forecast period, i.e., 2021-2031.

The major players in the market are Kyocera Corporation, SolydEra, Elcogen AS, Fuel Cell Energy, and POSCO Energy.

The planar segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
Solid Oxide Fuel Cell Market Report Scope
logo
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying