Report Highlights
The global market for solid oxide fuel cells (SOFC) is expected to grow from $3.2 billion in 2025 and is projected to reach $9.6 billion by the end of 2030, at a compound annual growth rate (CAGR) of 24.4% during the forecast period of 2025 to 2030.
Report Includes
- 38 data tables and 48 additional tables
- An overview of the global market and technologies for solid oxide fuel cells (SOFC)
- Analyses of the global market trends, with sales data for 2024, estimates for 2025, forecasts for 2028, 2029, and projections for CAGRs through 2030
- Highlights of the market potential for solid oxide fuel cells, based on type, component, application, and region
- Coverage of history, comparison and characteristics of major fuel cell types and cost analysis of SOFC; and information on recent commercial developments, government initiatives and subsidies
- Discussion on the environmental impact of various types of SOFC
- Information on the latest developments in the SOFC and new industry research, upcoming technologies and economic trends
- Identification of challenges and discussion on how to overcome those to enable the market to reach its commercialization potential, and ESG trends of the market
- Market share analysis of the key companies of the industry and coverage of their proprietary technologies, strategic alliances, and other key market strategies and a relevant patent analysis
- Comprehensive company profiles of the leading companies of the industry, including Bloom Energy, Mitsubishi Heavy Industries Ltd., Dosan Fuel Cell, Fuel Cell Energy, and Kyocera Corp.
Report Scope
This report encompasses a segmental analysis of the market by type, component, and application. The report also discusses the new innovations in SOFC technology, regulatory analysis, competitive aspects, energy transition, and economic trends that influence the market. The analyst has included a patent analysis for the SOFC market, which depicts an attractive investment prospect for technology investors. The study consists of Porter’s analysis, an ESG development chapter, macro-economic factors, and a competitive landscape analysis, which enables the reader to understand more precisely the competitive environment in the global market. The report concludes by providing detailed profiles of the major providers of SOFCs.
The report also includes a regional analysis of SOFCs that covers North America, Europe, Asia-Pacific, and the Rest of the World (e.g., South America, the Middle East, and Africa). The country analysis, including the U.S., the U.K., South Korea, Japan, and China, further examines the current and future factors influencing demand. For this report, 2024 is considered the base year and 2025 is the estimated year. The market values are forecast for five years through 2030. All market values are in U.S. dollars ($) millions.
Report Synopsis
| Report Metrics | Details | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2024 | ||||||||||||||||
| Forecast period considered | 2025-2030 | ||||||||||||||||
| Base year market size | $2.7 Billion | ||||||||||||||||
| Market size forecast | $9.6 Billion | ||||||||||||||||
| Growth rate | CAGR of 24.4% for the forecast period of 2025-2030 | ||||||||||||||||
| Units considered | $ Millions | ||||||||||||||||
| Segments covered | Type, Component, Application, and Region | ||||||||||||||||
| Regions covered | North America, Europe, Asia-Pacific, and Rest of the World | ||||||||||||||||
| Countries covered | U.S., Canada, Mexico, Germany, France, the U.K., Italy, China, Japan, South Korea, South America, and MEA | ||||||||||||||||
| Key Market Drivers |
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| Companies studied |
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Frequently Asked Questions (FAQs)
- Demand for FCEVs.
- Supportive government regulations and incentives.
- Technological advances in fuel cell technology.
- Key challenges include-High cost of catalysts and Insufficient FCEV hydrogen refueling stations.
- Key opportunities include-Growth Growing demand for clean energy sources, and Demand for fuel cells for backup power in data centers
Analyst Credentials
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
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Report Highlights
The global solid oxide fuel cell market should reach $2.3 billion by 2026 from $1.3 billion in 2021 at a compound annual growth rate (CAGR) of 12.5% for the forecast period of 2021 to 2026.
Report Includes
- 79 tables
- An overview of the global market and technologies for solid oxide fuel cells
- Estimation of the market size and analyses of global market trends, with data from 2020, 2021 with projections of compound annual growth rates (CAGRs) through 2026
- Highlights of the market potential for solid oxide fuel cells market, based on application, end-use industry, and region
- Coverage of history, comparison and characteristics of major fuel cell types and cost analysis of SOFC; and information on recent commercial developments, government initiatives and subsidies
- Discussion on environmental impact of various types of solid oxide fuel cells
- Market share analysis of the key companies of the industry and coverage of their proprietary technologies, strategic alliances, and other key market strategies and a relevant patent analysis
- Comprehensive company profiles of the leading players, including Bloom Energy, Fuji Electric, H2e Power Systems Inc., Mitsubishi Heavy Industries Ltd., Rolls-Royce Fuel Cell Systems and Toyota
Report Highlights
The global market for solid oxide fuel cell (SOFC) was $303 million and $622 million in 2008 and 2012, respectively. The market is expected to reach nearly $1.2 billion by 2020 from $662 million in 2015, increasing at a compound annual growth rate (CAGR) of 12.3% from 2015 to 2020.
Report Includes
- An overview of the global markets for solid oxide fuel cells (SOFCs), a technology offering the promise of greatly reduced environmental impact and excellent performance, price, fuel flexibility, and efficiency advantages.
- Analyses of global market trends, with data from 2008 and 2012, 2015, and projections of CAGRs through 2020.
- Discussion of the current state, setbacks, innovations, and the future needs of the market.
- Examination of the market by application and by product sizes; utility scale, medium scale and small scale.
- Applications covered include:
- Combined heat and power (CHP)
- Remote power and auxiliary power units (APUs)
- Military
- Portable product power
- Exotic
- Analyses of the technology and recent commercial developments in the SOFC industry.
- Profiles of major players in the industry.
Report Highlights
Global solid oxide fuel cell (SOFC) market in 2013 is worth more than $906 million, up from $303 million in 2008. The forecasted revenues will likely reach almost $1.3 billion by 2018, demonstrating a compound annual growth rate (CAGR) of 7.5%.
Report Includes
- An overview of the global market for solid oxide fuel cells (SOFCs).
- Analyses of global market trends, with data from 2008 and 2012, estimates for 2013, and projections of compound annual growth rates (CAGRs) through 2018.
- Discussion of the current state, setbacks, innovations, and the future needs of the market.
- Examination of the market by application and by product sizes; utility scale, medium scale and small scale.
- Analyses of the technology and recent commercial developments in SOFCs global market.
Report Highlights
The global solid oxide fuel cell market in 2011 will be worth more than $380 million, up from $360 million in 2010. This will result in a $530 million global market in 2016, a compound annual growth rate (CAGR) of 6.9% between 2011 and 2016 under a consensus scenario.
Report Highlights
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The global market value of solid oxide fuel cells is forecasted to reach $335 million by 2008, rising from $123 million in 2003 at an average annual growth rate (AAGR) of 22.2%.
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North American markets, estimated to be about $67 million in 2003, represent about 55% of the global market.
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Power plant stationary applications are expected to grow at an AAGR of 24% to $160 million by 2008.
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The first precommercialized tubular SOFC units of 250 kW or more are expected to be available in pilot production in early 2004 in North America.
-
Residential SOFCs, mainly planar designs, are expected to be introduced in Europe in 2004.
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