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 Scope
This report will cover solid oxide fuel cells used in transport applications as well as stationary power generation and storage applications. Target markets are based on optimistic, pessimistic and consensus alternatives, which are compared to the conventional power generation target and peak shifting opportunities. The current market is emerging with pre-commercial demos and subsidized pilot projects as well as fast-growing niche markets that are quickly becoming established specialty markets.
Over the next five years, these pilots will be expanding into commercial implementations. The 2026 market is also characterized with recent developments in the industry and government initiatives across the globe.
SOFC applications are described and analyzed. The following applications are considered:
- Combined heat and power (CHP).
- Power generation (stationary power units, remote power, and auxiliary power units [APUs]).
- Portable product power.
- Exotic (solid oxide electrolyzer cells and fuel cell hybrids).
Geographical scope of the report covers North America, Asia-Pacific, Europe and Rest of the World.
SOFC companies are listed, and their detailed profiles are discussed in the Company Profiles chapter.
Report Synopsis
| Report Metrics | Details | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Base year considered | 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forecast period considered | 2021-2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Base year market size | $1.2 billion | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market size forecast | $2.3 billion | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Growth rate | CAGR of 12.5% from 2021 to 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Units considered | $ Millions | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segments covered | Scale, End-Use Segment, Application | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Regions covered | North America, Europe, Asia-Pacific | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Countries covered | United States, Germany, U.K., Rest of Europe, Japan, South Korea, Rest of APAC | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Companies studied |
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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 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
-
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.
-
Power plant stationary applications are expected to grow at an AAGR of 24% to $160 million by 2008.
-
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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