Market Overview:
The global SOFC and SOEC market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for clean and efficient energy sources, rising awareness about environmental concerns, and government initiatives toward the adoption of renewable energy sources. The tubular segment is expected to hold the largest share of the global SOFC and SOEC market in 2018. This can be attributed to its high efficiency as compared to other types of fuel cells, low emissions, long life cycle, and easy installation. The stationary segment is expected to grow at a higher CAGR than other segments during the forecast period owing to its growing demand from commercial & industrial sectors for power generation applications.
Product Definition:
Solid oxide fuel cells (SOFCs) and solid oxide electrolysis cells (SOECs) are electrochemical devices that convert chemical energy into electrical energy.
They are important because they can provide clean, efficient, and sustainable power sources for a variety of applications.
Tubular:
Tubular is a new term in the field of energy storage. It is defined as a structure made up of multiple tubes, which are wound around each other and filled with an electrolyte. The most common example of tubular battery includes flat plate batteries such as zinc-carbon or lithium-air batteries. These types of batteries have many advantages over conventional cylindrical type including low profile, easy installation and maintenance, compact size etc.
Planar:
The planar is a type of cell that finds application in solid-state electrolysis. It has several advantages over conventional cells such as high specific and volumetric efficiencies, low operating costs, compact size and lightweight.
Application Insights:
The stationary application segment dominated the global SOFC and SOEC market in terms of revenue share in 2017. The growth can be attributed to the rising demand for power generation from photovoltaic systems, wind turbines, and thermal storage batteries across residential and commercial sectors. Stationary applications are further categorized into portable & military, residential & commercial buildings as well as transportation. Portable & military was the largest application segment in 2017 owing to growing defense expenditure across various countries which is expected to boost product demand over the forecast period.
SOFCs provide an efficient solution for generating power by harnessing solar energy or running on fossil fuels such as natural gas or diesel with a cogeneration system that avoids any additional fuel costs while producing electricity at a lower cost than other technologies such as PV panels or wind turbines do. This factor is anticipated to drive their adoption rate among portable & military applications over the forecast period thereby driving overall market growth globally during this time frame.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing rapid growth in industries such as portable & military, industrial, energy & power, consumer electronics, and automotive. Increasing demand for high efficiency SOFCs from these end-use markets coupled with rising government initiatives to develop clean energy sources is likely to drive industry expansion over the coming years.
The European market was valued at USD X billion in 2017 and is projected to witness significant growth over the forecast period owing to increasing focus on developing renewable energy sources for electricity generation along with growing automobile industry within Europe region itself which would lead towards an increase of fuel consumption necessitating a need for efficientSOFCsfor reducing harmful emissions into environment thus driving demand across various applications including transportation sector also supporting regional growth trends observed during same year.
Growth Factors:
- Increasing demand for fuel cells from the transportation sector as a result of stringent emission regulations
- The increasing demand for stationary fuel cells from data centers and telecommunications companies to provide backup power and improve efficiency
- Growing demand for portable fuel cells to power consumer electronics and military applications
- The increasing use of fuel cells in micro-grid applications
- Advances in materials science that are making SOFCs more efficient, durable, and affordable
Scope Of The Report
Report Attributes
Report Details
Report Title
SOFC and SOEC Market Research Report
By Type
Tubular, Planar, Others
By Application
Transportation, Portable & Military, Stationary
By Companies
Bloom Energy, Siemens Energy, Aisin Seiki, Mitsubishi Heavy Industries, Delphi Corp, GE, Convion, FuelCell Energy, Atrex Energy, Inc, SOLIDpower, ZTEK Corporation, Redox Power Systems, Ceres, Elcogen, Hoganas, Fiaxel, mPower, OxEon Energy, Sunfire GmbH, Fraunhofer IKTS
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
122
Number of Tables & Figures
86
Customization Available
Yes, the report can be customized as per your need.
Global SOFC and SOEC Market Report Segments:
The global SOFC and SOEC market is segmented on the basis of:
Types
Tubular, Planar, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Transportation, Portable & Military, Stationary
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Bloom Energy
- Siemens Energy
- Aisin Seiki
- Mitsubishi Heavy Industries
- Delphi Corp
- GE
- Convion
- FuelCell Energy
- Atrex Energy, Inc
- SOLIDpower
- ZTEK Corporation
- Redox Power Systems
- Ceres
- Elcogen
- Hoganas
- Fiaxel
- mPower
- OxEon Energy
- Sunfire GmbH
- Fraunhofer IKTS
Highlights of The SOFC and SOEC Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Tubular
- Planar
- Others
- By Application:
- Transportation
- Portable & Military
- Stationary
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the SOFC and SOEC Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
SOFC and SOEC are acronyms for "solid oxide fuel cell." SOFCs use solid oxide as the anode, while SOECs use a combination of solid oxide and carbon dioxide. These cells produce electricity by using the chemical reaction of hydrogen and oxygen to create water vapor.
Some of the key players operating in the sofc and soec market are Bloom Energy, Siemens Energy, Aisin Seiki, Mitsubishi Heavy Industries, Delphi Corp, GE, Convion, FuelCell Energy, Atrex Energy, Inc, SOLIDpower, ZTEK Corporation, Redox Power Systems, Ceres, Elcogen, Hoganas, Fiaxel, mPower, OxEon Energy, Sunfire GmbH, Fraunhofer IKTS.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 SOFC and SOEC Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 SOFC and SOEC Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 SOFC and SOEC Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the SOFC and SOEC Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global SOFC and SOEC Market Size & Forecast, 2020-2028
4.5.1 SOFC and SOEC Market Size and Y-o-Y Growth
4.5.2 SOFC and SOEC Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Tubular
5.2.2 Planar
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Transportation
6.2.2 Portable & Military
6.2.3 Stationary
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global SOFC and SOEC Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 SOFC and SOEC Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Tubular
9.6.2 Planar
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Transportation
9.10.2 Portable & Military
9.10.3 Stationary
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Tubular
10.6.2 Planar
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Transportation
10.10.2 Portable & Military
10.10.3 Stationary
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Tubular
11.6.2 Planar
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Transportation
11.10.2 Portable & Military
11.10.3 Stationary
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Tubular
12.6.2 Planar
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Transportation
12.10.2 Portable & Military
12.10.3 Stationary
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Tubular
13.6.2 Planar
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Transportation
13.10.2 Portable & Military
13.10.3 Stationary
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 SOFC and SOEC Market: Competitive Dashboard
14.2 Global SOFC and SOEC Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Bloom Energy
14.3.2 Siemens Energy
14.3.3 Aisin Seiki
14.3.4 Mitsubishi Heavy Industries
14.3.5 Delphi Corp
14.3.6 GE
14.3.7 Convion
14.3.8 FuelCell Energy
14.3.9 Atrex Energy, Inc
14.3.10 SOLIDpower
14.3.11 ZTEK Corporation
14.3.12 Redox Power Systems
14.3.13 Ceres
14.3.14 Elcogen
14.3.15 Hoganas
14.3.16 Fiaxel
14.3.17 mPower
14.3.18 OxEon Energy
14.3.19 Sunfire GmbH
14.3.20 Fraunhofer IKTS
