Market Overview:
The global solid oxide fuel cell market reached a value of US$ 953.8 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 2,287.7 Million by 2027, exhibiting a CAGR of 15.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
A solid oxide fuel cell (SOFC) is an energy converter device that produces electricity through electrochemical conversions. It operates using various energy sources, such as biogas, natural gas, propane hydrogen and other oxidized hydrocarbons. SOFCs are commonly available in planar and tubular variants, which are either stationary or portable. They consist of a ceramic membrane that conducts ions and flows currents at high temperatures, along with non-porous and metal oxide electrolytes to convert chemical energy into thermal energy and electricity without combustion. In comparison to the traditionally used energy sources, SOFCs are highly cost-effective and sustainable in nature.
Significant growth in the power and energy industries across the globe is one of the key factors creating a positive outlook for the market. Moreover, rising clean energy requirements, especially in the developing economies, are providing a thrust to the market growth. SOFCs are embedded into power systems to generate continuous energy for various commercial and industrial applications. They are also widely used for operating energy-intensive data centers to improve operational performance and facilitate real-time backup of the data. Additionally, various product innovations, such as the development of noiseless and portable SOFCs for military applications, are acting as other growth-inducing factors. These innovative variants are being extensively used for operating unmanned aerial vehicles (UAVs), military robots and communications devices. Other factors, including extensive research and development (R&D) activities in fuel cell programs, along with the implementation of favorable government policies, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global solid oxide fuel cell market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on application and end user.
Breakup by Application:
Breakup by End User:
- Commercial
- Data Centers
- Military and Defense
- Others
Breakup by Region:
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Adaptive Energy LLC, Aisin Seiki Co. Ltd., Bloom Energy, Convion Ltd., Elcogen AS, Fuji Electric Co. Ltd., Mitsubishi Heavy Industries Ltd., POSCO Energy, SOLIDpower Group, Sunfire GmbH and Watt Fuel Cell Corporation.
Report Coverage:
| Report Features |
Details |
|---|
| Base Year of the Analysis |
2021 |
| Historical Period |
2016-2021 |
| Forecast Period |
2022-2027 |
| Units |
US$ Million |
| Segment Coverage |
Application, End User, Region |
| Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered |
Adaptive Energy LLC, Aisin Seiki Co. Ltd., Bloom Energy, Convion Ltd., Elcogen AS, Fuji Electric Co. Ltd., Mitsubishi Heavy Industries Ltd., POSCO Energy, SOLIDpower Group, Sunfire GmbH and Watt Fuel Cell Corporation |
| Customization Scope |
10% Free Customization |
| Report Price and Purchase Option |
Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499 |
| Post-Sale Analyst Support |
10-12 Weeks |
| Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the global solid oxide fuel cell market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global solid oxide fuel cell market?
- What are the key regional markets?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global solid oxide fuel cell market and who are the key players?
- What is the degree of competition in the industry?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Solid Oxide Fuel Cell Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Application
6.1 Portable
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Stationary
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by End User
7.1 Commercial
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Data Centers
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Military and Defense
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Region
8.1 North America
8.1.1 United States
8.1.1.1 Market Trends
8.1.1.2 Market Forecast
8.1.2 Canada
8.1.2.1 Market Trends
8.1.2.2 Market Forecast
8.2 Asia-Pacific
8.2.1 China
8.2.1.1 Market Trends
8.2.1.2 Market Forecast
8.2.2 Japan
8.2.2.1 Market Trends
8.2.2.2 Market Forecast
8.2.3 India
8.2.3.1 Market Trends
8.2.3.2 Market Forecast
8.2.4 South Korea
8.2.4.1 Market Trends
8.2.4.2 Market Forecast
8.2.5 Australia
8.2.5.1 Market Trends
8.2.5.2 Market Forecast
8.2.6 Indonesia
8.2.6.1 Market Trends
8.2.6.2 Market Forecast
8.2.7 Others
8.2.7.1 Market Trends
8.2.7.2 Market Forecast
8.3 Europe
8.3.1 Germany
8.3.1.1 Market Trends
8.3.1.2 Market Forecast
8.3.2 France
8.3.2.1 Market Trends
8.3.2.2 Market Forecast
8.3.3 United Kingdom
8.3.3.1 Market Trends
8.3.3.2 Market Forecast
8.3.4 Italy
8.3.4.1 Market Trends
8.3.4.2 Market Forecast
8.3.5 Spain
8.3.5.1 Market Trends
8.3.5.2 Market Forecast
8.3.6 Russia
8.3.6.1 Market Trends
8.3.6.2 Market Forecast
8.3.7 Others
8.3.7.1 Market Trends
8.3.7.2 Market Forecast
8.4 Latin America
8.4.1 Brazil
8.4.1.1 Market Trends
8.4.1.2 Market Forecast
8.4.2 Mexico
8.4.2.1 Market Trends
8.4.2.2 Market Forecast
8.4.3 Others
8.4.3.1 Market Trends
8.4.3.2 Market Forecast
8.5 Middle East and Africa
8.5.1 Market Trends
8.5.2 Market Breakup by Country
8.5.3 Market Forecast
9 SWOT Analysis
9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats
10 Value Chain Analysis
11 Porters Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
13.3.1 Adaptive Energy LLC
13.3.1.1 Company Overview
13.3.1.2 Product Portfolio
13.3.2 Aisin Seiki Co. Ltd.
13.3.2.1 Company Overview
13.3.2.2 Product Portfolio
13.3.2.3 Financials
13.3.2.4 SWOT Analysis
13.3.3 Bloom Energy
13.3.3.1 Company Overview
13.3.3.2 Product Portfolio
13.3.3.3 Financials
13.3.4 Convion Ltd.
13.3.4.1 Company Overview
13.3.4.2 Product Portfolio
13.3.5 Elcogen AS
13.3.5.1 Company Overview
13.3.5.2 Product Portfolio
13.3.6 Fuji Electric Co. Ltd.
13.3.6.1 Company Overview
13.3.6.2 Product Portfolio
13.3.6.3 Financials
13.3.6.4 SWOT Analysis
13.3.7 Mitsubishi Heavy Industries Ltd.
13.3.7.1 Company Overview
13.3.7.2 Product Portfolio
13.3.7.3 Financials
13.3.7.4 SWOT Analysis
13.3.8 POSCO Energy
13.3.8.1 Company Overview
13.3.8.2 Product Portfolio
13.3.9 SOLIDpower Group
13.3.9.1 Company Overview
13.3.9.2 Product Portfolio
13.3.10 Sunfire GmbH
13.3.10.1 Company Overview
13.3.10.2 Product Portfolio
13.3.11 Watt Fuel Cell Corporation
13.3.11.1 Company Overview
13.3.11.2 Product Portfolio
List of Figures
Figure 1: Global: Solid Oxide Fuel Cell Market: Major Drivers and Challenges
Figure 2: Global: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016-2021
Figure 3: Global: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 4: Global: Solid Oxide Fuel Cell Market: Breakup by Application (in %), 2021
Figure 5: Global: Solid Oxide Fuel Cell Market: Breakup by End User (in %), 2021
Figure 6: Global: Solid Oxide Fuel Cell Market: Breakup by Region (in %), 2021
Figure 7: Global: Solid Oxide Fuel Cell (Portable) Market: Sales Value (in Million US$), 2016 & 2021
Figure 8: Global: Solid Oxide Fuel Cell (Portable) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 9: Global: Solid Oxide Fuel Cell (Stationary) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Solid Oxide Fuel Cell (Stationary) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Solid Oxide Fuel Cell (Commercial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Solid Oxide Fuel Cell (Commercial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Solid Oxide Fuel Cell (Data Centers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Solid Oxide Fuel Cell (Data Centers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Solid Oxide Fuel Cell (Military and Defense) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Solid Oxide Fuel Cell (Military and Defense) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Solid Oxide Fuel Cell (Other End Users) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Solid Oxide Fuel Cell (Other End Users) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: North America: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: North America: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: United States: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: United States: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Canada: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Canada: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Asia-Pacific: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Asia-Pacific: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: China: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: China: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Japan: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Japan: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: India: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: India: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: South Korea: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: South Korea: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Australia: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Australia: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Indonesia: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Indonesia: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Others: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Others: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Europe: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Europe: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Germany: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Germany: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: France: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: France: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: United Kingdom: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: United Kingdom: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Italy: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Italy: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Spain: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Spain: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Russia: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Russia: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Others: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Others: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Latin America: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Latin America: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Brazil: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Brazil: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Mexico: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Mexico: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Others: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Others: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Middle East and Africa: Solid Oxide Fuel Cell Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Middle East and Africa: Solid Oxide Fuel Cell Market: Breakup by Country (in %), 2021
Figure 67: Middle East and Africa: Solid Oxide Fuel Cell Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Global: Solid Oxide Fuel Cell Industry: SWOT Analysis
Figure 69: Global: Solid Oxide Fuel Cell Industry: Value Chain Analysis
Figure 70: Global: Solid Oxide Fuel Cell Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Solid Oxide Fuel Cell Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Solid Oxide Fuel Cell Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 3: Global: Solid Oxide Fuel Cell Market Forecast: Breakup by End User (in Million US$), 2022-2027
Table 4: Global: Solid Oxide Fuel Cell Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 5: Global: Solid Oxide Fuel Cell Market: Competitive Structure
Table 6: Global: Solid Oxide Fuel Cell Market: Key Players