Global Solid Oxide Fuel Cell Market by Application (Transportation, Portable, Stationary) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
Summary of the Report
In 2019, the global solid oxide fuel cells market was worth USD 403.3 million. It is projected to grow at a compound annual rate (CAGR), of 30.0% between 2020 and 2027. Solid oxide fuel cell (SOFC), a type cell that uses solid ceramic electrolyte, can be powered by natural gas, renewable biogas or hydrogen. SOFC is capable of operating at temperatures up to 800oC. It can also operate at higher temperatures, such as 1,000degC. Market growth is being driven by increasing awareness of alternative energy sources. Global warming is a major problem. Government authorities around the world are providing research funding and supporting policies and plans to address the issue. Japan is now one of the most important markets for SOFC worldwide due to its support policies and various incentives.
Japan, for instance, is the largest consumer SOFC units for residential microCHP applications because of its Ene farm program. The program has established ambitious targets for the installed base to reach 1.4 million and 5.3 millions units respectively of fuel cell systems for microCHP applications by 2030 and 2020, respectively. These factors will likely boost the growth of this market.
Market growth will depend on concrete actions taken by both policymakers and industry players. Strategic partnerships are expected to be formed in the industry that will help advance SOFC technology. The availability of research funds and private-public partnerships are expected to be key factors in the development of economically viable SOFC units.
The market growth is expected to be slowed by the availability of substitute fuel cell technologies such as Polymer Electrolyte membrane (PEM), and phosphoric acids fuel cells. PEM fuel cells are more popular than SOFC or other technologies due to their low cost.
Application Insights
In 2019, the stationary segment had the highest revenue share at over 82%. This is due to the use of SOFC systems for stationary generation for applications such as large stationary prime powers, micro and large-scale CHP. Stationary SOFCs can be used for commercial purposes such as powering data centers and other commercial uses. Japan, South Korea and Germany are improving their regulatory frameworks which has resulted in the increased use of SOFCs for power generation in residential and commercial areas.
Due to increasing use of SOFCs in vehicles, trucks, and marine, the transportation segment will see the highest CAGR during the forecast period. Bloom Energy, in partnership with Samsung Heavy Industries, is developing SOFC systems for powering ships. SOFC systems can be used for portable applications, including small auxiliary power units that can be moved to light up railroad tracks. The forecast period will see technological advancements in SOFC systems that can be used in portable applications.
Regional Insights
North America was the second largest regional market in 2019, after China. Due to the existence of supportive policies in the U.S., as well as incentives in U.S. state like California and Connecticut, the U.S. drove the regional market. The U.S. Department of Energy also offers research grants that have facilitated the adoption of SOFC systems across the country.
Bloom Energy, one of the most prominent companies on the global market, is focused on increasing the large-scale installation of bloom servers. These servers provide on-site, stationary power generation throughout the U.S. The market will see a rise in demand for electricity decentralization and continuous power supply throughout the forecast period.
The fastest CAGR is expected to be in Asia Pacific during the forecast period. APAC's market has been driven by the presence of countries such as South Korea and Japan. In 2018, South Korea saw the installation of 8.35 MW bloom energy servers in Bundang by Korea Southeast Power Company.
PACE, which was established in 2016 to promote fuel cell use in micro-CHP systems within Europe, is the driving force behind Europe's market. Germany is the largest market for SOFC in Europe due to the implementation support policies and subsidy programmes for fuel cell system installation in the country.
Market Share Insights & Key Companies
Due to the constant technological advances made by existing vendors and new entrants, the global SOFC market is highly competitive. Because of their strong local presence and close connections with clients, industry players are now focusing on strengthening their relationships with system installers. This will likely help them increase their geographic presence.
For this market to remain competitive, new application developments will be key. To increase their market presence, key players rely on strategies such as joint ventures and mergers. SOFC market players are focusing on the R&D of cost-effective technology. The solid oxide fuel cell market is dominated by the following players:
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Bloom Energy
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Mitsubishi Heavy Industries, Ltd.
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Ceres Power Holdings plc
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Aisin Seiki Co., Ltd.
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Ensol Systems
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Sunfire GmbH
Up Market Research published a new report titled “Solid Oxide Fuel Cell Market research report which is segmented by Application (Transportation, Portable, Stationary), By Players/Companies Aisin Seiki Co Ltd, Mitsubishi Heavy Industries Ltd, Bloom Energy, Ceres Power Holdings plc, Sunfire GmbH, Ensol Systems”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Scope
| Report Attributes | Report Details |
| Report Title | Solid Oxide Fuel Cell Market Research Report |
| By Application | Transportation, Portable, Stationary |
| By Companies | Aisin Seiki Co Ltd, Mitsubishi Heavy Industries Ltd, Bloom Energy, Ceres Power Holdings plc, Sunfire GmbH, Ensol Systems |
| Regions Covered | North America, Europe, APAC, Latin America, MEA |
| Base Year | 2020 |
| Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
| Forecast Year | 2028 |
| Number of Pages | 228 |
| Number of Tables & Figures | 160 |
| Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
Global Solid Oxide Fuel Cell Market Report Segments:
The market is segmented by Application (Transportation, Portable, Stationary).
Solid Oxide Fuel Cell Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Solid Oxide Fuel Cell Market
Overview of the regional outlook of the Solid Oxide Fuel Cell Market:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
Highlights of The Solid Oxide Fuel Cell Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Solid Oxide Fuel Cell Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
1. Transportation
2. Portable
3. 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 Solid Oxide Fuel Cell 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 2028.
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Reasons to Purchase the Solid Oxide Fuel Cell Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Solid Oxide Fuel Cell 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 Solid Oxide Fuel Cell Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Solid Oxide Fuel Cell 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 Solid Oxide Fuel Cell 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 Solid Oxide Fuel Cell Market Size & Forecast, 2018-2028
4.5.1 Solid Oxide Fuel Cell Market Size and Y-o-Y Growth
4.5.2 Solid Oxide Fuel Cell Market Absolute $ Opportunity
Chapter 5 Global Solid Oxide Fuel Cell Market Analysis and Forecast by Application
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Application
5.1.2 Basis Point Share (BPS) Analysis by Application
5.1.3 Absolute $ Opportunity Assessment by Application
5.2 Solid Oxide Fuel Cell Market Size Forecast by Application
5.2.1 Transportation
5.2.2 Portable
5.2.3 Stationary
5.3 Market Attractiveness Analysis by Application
Chapter 6 Global Solid Oxide Fuel Cell Market Analysis and Forecast by Region
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Region
6.1.2 Basis Point Share (BPS) Analysis by Region
6.1.3 Absolute $ Opportunity Assessment by Region
6.2 Solid Oxide Fuel Cell Market Size Forecast by Region
6.2.1 North America
6.2.2 Europe
6.2.3 Asia Pacific
6.2.4 Latin America
6.2.5 Middle East & Africa (MEA)
6.3 Market Attractiveness Analysis by Region
Chapter 7 Coronavirus Disease (COVID-19) Impact
7.1 Introduction
7.2 Current & Future Impact Analysis
7.3 Economic Impact Analysis
7.4 Government Policies
7.5 Investment Scenario
Chapter 8 North America Solid Oxide Fuel Cell Analysis and Forecast
8.1 Introduction
8.2 North America Solid Oxide Fuel Cell Market Size Forecast by Country
8.2.1 U.S.
8.2.2 Canada
8.3 Basis Point Share (BPS) Analysis by Country
8.4 Absolute $ Opportunity Assessment by Country
8.5 Market Attractiveness Analysis by Country
8.6 North America Solid Oxide Fuel Cell Market Size Forecast by Application
8.6.1 Transportation
8.6.2 Portable
8.6.3 Stationary
8.7 Basis Point Share (BPS) Analysis by Application
8.8 Absolute $ Opportunity Assessment by Application
8.9 Market Attractiveness Analysis by Application
Chapter 9 Europe Solid Oxide Fuel Cell Analysis and Forecast
9.1 Introduction
9.2 Europe Solid Oxide Fuel Cell Market Size Forecast by Country
9.2.1 Germany
9.2.2 France
9.2.3 Italy
9.2.4 U.K.
9.2.5 Spain
9.2.6 Russia
9.2.7 Rest of Europe
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 Europe Solid Oxide Fuel Cell Market Size Forecast by Application
9.6.1 Transportation
9.6.2 Portable
9.6.3 Stationary
9.7 Basis Point Share (BPS) Analysis by Application
9.8 Absolute $ Opportunity Assessment by Application
9.9 Market Attractiveness Analysis by Application
Chapter 10 Asia Pacific Solid Oxide Fuel Cell Analysis and Forecast
10.1 Introduction
10.2 Asia Pacific Solid Oxide Fuel Cell Market Size Forecast by Country
10.2.1 China
10.2.2 Japan
10.2.3 South Korea
10.2.4 India
10.2.5 Australia
10.2.6 South East Asia (SEA)
10.2.7 Rest of Asia Pacific (APAC)
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 Asia Pacific Solid Oxide Fuel Cell Market Size Forecast by Application
10.6.1 Transportation
10.6.2 Portable
10.6.3 Stationary
10.7 Basis Point Share (BPS) Analysis by Application
10.8 Absolute $ Opportunity Assessment by Application
10.9 Market Attractiveness Analysis by Application
Chapter 11 Latin America Solid Oxide Fuel Cell Analysis and Forecast
11.1 Introduction
11.2 Latin America Solid Oxide Fuel Cell Market Size Forecast by Country
11.2.1 Brazil
11.2.2 Mexico
11.2.3 Rest of Latin America (LATAM)
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 Latin America Solid Oxide Fuel Cell Market Size Forecast by Application
11.6.1 Transportation
11.6.2 Portable
11.6.3 Stationary
11.7 Basis Point Share (BPS) Analysis by Application
11.8 Absolute $ Opportunity Assessment by Application
11.9 Market Attractiveness Analysis by Application
Chapter 12 Middle East & Africa (MEA) Solid Oxide Fuel Cell Analysis and Forecast
12.1 Introduction
12.2 Middle East & Africa (MEA) Solid Oxide Fuel Cell Market Size Forecast by Country
12.2.1 Saudi Arabia
12.2.2 South Africa
12.2.3 UAE
12.2.4 Rest of Middle East & Africa (MEA)
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 Middle East & Africa (MEA) Solid Oxide Fuel Cell Market Size Forecast by Application
12.6.1 Transportation
12.6.2 Portable
12.6.3 Stationary
12.7 Basis Point Share (BPS) Analysis by Application
12.8 Absolute $ Opportunity Assessment by Application
12.9 Market Attractiveness Analysis by Application
Chapter 13 Competition Landscape
13.1 Solid Oxide Fuel Cell Market: Competitive Dashboard
13.2 Global Solid Oxide Fuel Cell Market: Market Share Analysis, 2019
13.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
13.3.1 Aisin Seiki Co Ltd
13.3.2 Mitsubishi Heavy Industries Ltd
13.3.3 Bloom Energy
13.3.4 Ceres Power Holdings plc
13.3.5 Sunfire GmbH
13.3.6 Ensol Systems
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Solid Oxide Fuel Cell 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 Solid Oxide Fuel Cell Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Solid Oxide Fuel Cell 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 Solid Oxide Fuel Cell 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 Solid Oxide Fuel Cell Market Size & Forecast, 2018-2028
4.5.1 Solid Oxide Fuel Cell Market Size and Y-o-Y Growth
4.5.2 Solid Oxide Fuel Cell Market Absolute $ Opportunity
Chapter 5 Global Solid Oxide Fuel Cell Market Analysis and Forecast by Application
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Application
5.1.2 Basis Point Share (BPS) Analysis by Application
5.1.3 Absolute $ Opportunity Assessment by Application
5.2 Solid Oxide Fuel Cell Market Size Forecast by Application
5.2.1 Transportation
5.2.2 Portable
5.2.3 Stationary
5.3 Market Attractiveness Analysis by Application
Chapter 6 Global Solid Oxide Fuel Cell Market Analysis and Forecast by Region
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Region
6.1.2 Basis Point Share (BPS) Analysis by Region
6.1.3 Absolute $ Opportunity Assessment by Region
6.2 Solid Oxide Fuel Cell Market Size Forecast by Region
6.2.1 North America
6.2.2 Europe
6.2.3 Asia Pacific
6.2.4 Latin America
6.2.5 Middle East & Africa (MEA)
6.3 Market Attractiveness Analysis by Region
Chapter 7 Coronavirus Disease (COVID-19) Impact
7.1 Introduction
7.2 Current & Future Impact Analysis
7.3 Economic Impact Analysis
7.4 Government Policies
7.5 Investment Scenario
Chapter 8 North America Solid Oxide Fuel Cell Analysis and Forecast
8.1 Introduction
8.2 North America Solid Oxide Fuel Cell Market Size Forecast by Country
8.2.1 U.S.
8.2.2 Canada
8.3 Basis Point Share (BPS) Analysis by Country
8.4 Absolute $ Opportunity Assessment by Country
8.5 Market Attractiveness Analysis by Country
8.6 North America Solid Oxide Fuel Cell Market Size Forecast by Application
8.6.1 Transportation
8.6.2 Portable
8.6.3 Stationary
8.7 Basis Point Share (BPS) Analysis by Application
8.8 Absolute $ Opportunity Assessment by Application
8.9 Market Attractiveness Analysis by Application
Chapter 9 Europe Solid Oxide Fuel Cell Analysis and Forecast
9.1 Introduction
9.2 Europe Solid Oxide Fuel Cell Market Size Forecast by Country
9.2.1 Germany
9.2.2 France
9.2.3 Italy
9.2.4 U.K.
9.2.5 Spain
9.2.6 Russia
9.2.7 Rest of Europe
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 Europe Solid Oxide Fuel Cell Market Size Forecast by Application
9.6.1 Transportation
9.6.2 Portable
9.6.3 Stationary
9.7 Basis Point Share (BPS) Analysis by Application
9.8 Absolute $ Opportunity Assessment by Application
9.9 Market Attractiveness Analysis by Application
Chapter 10 Asia Pacific Solid Oxide Fuel Cell Analysis and Forecast
10.1 Introduction
10.2 Asia Pacific Solid Oxide Fuel Cell Market Size Forecast by Country
10.2.1 China
10.2.2 Japan
10.2.3 South Korea
10.2.4 India
10.2.5 Australia
10.2.6 South East Asia (SEA)
10.2.7 Rest of Asia Pacific (APAC)
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 Asia Pacific Solid Oxide Fuel Cell Market Size Forecast by Application
10.6.1 Transportation
10.6.2 Portable
10.6.3 Stationary
10.7 Basis Point Share (BPS) Analysis by Application
10.8 Absolute $ Opportunity Assessment by Application
10.9 Market Attractiveness Analysis by Application
Chapter 11 Latin America Solid Oxide Fuel Cell Analysis and Forecast
11.1 Introduction
11.2 Latin America Solid Oxide Fuel Cell Market Size Forecast by Country
11.2.1 Brazil
11.2.2 Mexico
11.2.3 Rest of Latin America (LATAM)
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 Latin America Solid Oxide Fuel Cell Market Size Forecast by Application
11.6.1 Transportation
11.6.2 Portable
11.6.3 Stationary
11.7 Basis Point Share (BPS) Analysis by Application
11.8 Absolute $ Opportunity Assessment by Application
11.9 Market Attractiveness Analysis by Application
Chapter 12 Middle East & Africa (MEA) Solid Oxide Fuel Cell Analysis and Forecast
12.1 Introduction
12.2 Middle East & Africa (MEA) Solid Oxide Fuel Cell Market Size Forecast by Country
12.2.1 Saudi Arabia
12.2.2 South Africa
12.2.3 UAE
12.2.4 Rest of Middle East & Africa (MEA)
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 Middle East & Africa (MEA) Solid Oxide Fuel Cell Market Size Forecast by Application
12.6.1 Transportation
12.6.2 Portable
12.6.3 Stationary
12.7 Basis Point Share (BPS) Analysis by Application
12.8 Absolute $ Opportunity Assessment by Application
12.9 Market Attractiveness Analysis by Application
Chapter 13 Competition Landscape
13.1 Solid Oxide Fuel Cell Market: Competitive Dashboard
13.2 Global Solid Oxide Fuel Cell Market: Market Share Analysis, 2019
13.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
13.3.1 Aisin Seiki Co Ltd
13.3.2 Mitsubishi Heavy Industries Ltd
13.3.3 Bloom Energy
13.3.4 Ceres Power Holdings plc
13.3.5 Sunfire GmbH
13.3.6 Ensol Systems
Segments Covered in the Report
The global Solid Oxide Fuel Cell market has been segmented based on
By Application
The global Solid Oxide Fuel Cell market has been segmented based on
By Application
- Transportation
- Portable
- Stationary
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- Aisin Seiki Co Ltd
- Mitsubishi Heavy Industries Ltd
- Bloom Energy
- Ceres Power Holdings plc
- Sunfire GmbH
- Ensol Systems
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