Solid Oxide Electrolysis Cell Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Solid Oxide Electrolysis Cell Market
The solid oxide electrolysis cell market size was valued at USD 67.63 billion in 2023, and the market is now projected to rise from USD 118.71 billion in 2024 to USD 886.80 billion by 2032, exhibiting a CAGR of 77.48% during the forecast period of 2024-2032.
The COVID-19 pandemic raised increased interest in green hydrogen as a solution to address both climate change and economic recovery hence fueled solid oxide electrolysis cell market growth. Hydrogen initiatives have received a significant portion of countries' stimulus funding, putting them in competition with other geo-economic sectors. Green hydrogen, created from renewable energy sources, can help meet the UN objective of storing electricity during peak demand.
The rising demand for production of green hydrogen will foster the solid oxide electrolysis cell market growth. As hydrogen is emerging as a potential fuel for power generation and fuel electric cell vehicles hence augment market growth. Solid oxide electrolysis cells are used to produce green hydrogen using surplus electricity from wind turbines and other renewable sources. Produced hydrogen can then be stored in fuel cells and reconverted into electricity based on demand, ensuring secure energy storage when production exceeds demand. Solid oxide electrolysis cell development will continue much into the future, even after it has reached full marketability. Green hydrogen is a clean and sustainable energy carrier, and its increased production is projected to foster growth in the solid oxide electrolysis cell market growth.
Additionally, due to spread of high temperature metal supported electrolysis leading market expansion.Operating at high temperatures offers considerable advantages over commercially available electrolyzers that operate between room temperature and ~100°C. In particular, inexpensive non-platinum group elements can be utilized as catalysts, and because the ceramic membrane is impermeable, high-purity products are easily created.
Comprehensive Analysis of Solid Oxide Electrolysis Cell Market
The solid oxide electrolysis cell market is rising with an exponential rate due to its market segmentation. This market expansion effectively provides a detailed geographical assessment considering the dominant supply and demand forces that impact the cell management industry. These segmentations are methodically segregated by types of products, type of application and by end users. The types of By Product Type segment include Tubular and Others and By Application segment include Industrial Processes, Hydrogen Production, Fuel Production, and Others. However, By End-user segment include Power Plant, Refineries, and Others.
In the solid oxide electrolysis cell market, Europe region lead the power cell devices market with a market size of USD 26.98 billion in 2023 owing to expansion of renewable energy and rising demand for green hydrogen.
The prominent players in the market play a crucial role in the solid oxide electrolysis cell industry assuring industrial prospectus growth and setting market standards. These players include, Redox Power Systems (U.S.), Elcogen AS (Estonia), Bloomenergy (U.S.), Nexceris (U.S.), Fuel Cell Energy (U.S.), Ballard Power Systems Inc. (Canada), Siemens Energy (Germany), Bosch (Germany), OxEon Energy LLC (U.S.) and ITM Power (U.K.), these prominent market players provide a level-playing competitive landscape.
In November 2023, Phoenix Motor Inc., a leading developer of electrification solutions for medium-duty vehicles, stated today that its EdisonFuture subsidiary has presented a new developmental breakthrough known as Alkaline Electrolyzer solution to complement its existing proton exchange membrane for the creation of green hydrogen products.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 77.48% from 2024 to 2032
Unit Value (USD Million)
Segmentation By Product Type
Tubular
Others
By Application
Industrial Processes
Hydrogen Production
Fuel Production
Others
By End-user
Power Plant
Refineries
Others
By Region
North America (By Product Type, By Application, By End-user,and by Country)
- U.S.(By End-user)
- Canada (By End-user)
Europe (By Product Type, By Application, By End-user, and by Country)
- U.K. (By End-user)
- Italy (By End-user)
- Spain (By End-user)
- Germany (By End-user)
- Netherlands (By End-user)
- France (By End-user)
- Rest of Europe (By End-user)
Asia Pacific (By Product Type, By Application, By End-user, and by Country)
- China (By End-user)
- India (By End-user)
- Japan (By End-user)
- Australia (By End-user)
- Rest of Asia Pacific (By End-user)
Rest of the World (By Product Type, By Application, By End-user and by Country)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- 4.2. Latest technological Advancements
- 4.3. Porters Five Forces Analysis
- 4.4. Supply Chain Analysis
- 4.5. Qualitative Insights – Impact of the COVID-19 Pandemic on Global In-flight Advertising Services Market
- 5. Global In-Flight Advertising Services Market Analysis, Insights and Forecast, 2019-2030
- 5.1. Key Findings / Definitions
- 5.2. Market Analysis, Insights and Forecast – By Advertising Platform
- 5.2.1. Conventional Advertising
- 5.2.1.1. In-Flight Magazine
- 5.2.1.2. Tray tables and Headrests
- 5.2.1.3. Over Head Bins
- 5.2.1.4. Boarding Pass and Bag Tags
- 5.2.1.5. Others
- 5.2.2. Digital Advertising
- 5.2.2.1. Digital Magazine
- 5.2.2.2. In-Flight Entertainment System
- 5.3. Market Analysis, Insights and Forecast – By Airline Type
- 5.3.1. Low-Cost Airline
- 5.3.2. Full-Service Airline
- 5.4. Market Analysis, Insights and Forecast – By Airline Route
- 5.4.1. Domestic
- 5.4.2. International
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Middle East
- 5.5.5. Rest of the World
- 6. North America In-Flight Advertising Services Market Analysis, Insights and Forecast, 2019-2030
- 6.1. Market Analysis, Insights and Forecast – By Advertising Platform
- 6.1.1. Conventional Advertising
- 6.1.1.1. In-Flight Magazine
- 6.1.1.2. Tray tables and Headrests
- 6.1.1.3. Over Head Bins
- 6.1.1.4. Boarding Pass and Bag Tags
- 6.1.1.5. Others
- 6.1.2. Digital Advertising
- 6.1.2.1. Digital Magazine
- 6.1.2.2. In-Flight Entertainment System
- 6.2. Market Analysis, Insights and Forecast – By Airline Type
- 6.2.1. Low-Cost Airline
- 6.2.2. Full-Service Airline
- 6.3. Market Analysis, Insights and Forecast – By Airline Route
- 6.3.1. Domestic
- 6.3.2. International
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.1.1. Market Analysis, Insights and Forecast – By Airline Route
- 6.4.1.1.1. Domestic
- 6.4.1.1.2. International
- 6.4.2. Canada
- 6.4.2.1. Market Analysis, Insights and Forecast – By Airline Route
- 6.4.2.1.1. Domestic
- 6.4.2.1.2. International
- 7. Europe In-Flight Advertising Services Market Analysis, Insights and Forecast, 2019-2030
- 7.1. Market Analysis, Insights and Forecast – By Advertising Platform
- 7.1.1. Conventional Advertising
- 7.1.1.1. In-Flight Magazine
- 7.1.1.2. Tray tables and Headrests
- 7.1.1.3. Over Head Bins
- 7.1.1.4. Boarding Pass and Bag Tags
- 7.1.1.5. Others
- 7.1.2. Digital Advertising
- 7.1.2.1. Digital Magazine
- 7.1.2.2. In-Flight Entertainment System
- 7.2. Market Analysis, Insights and Forecast – By Airline Type
- 7.2.1. Low-Cost Airline
- 7.2.2. Full-Service Airline
- 7.3. Market Analysis, Insights and Forecast – By Airline Route
- 7.3.1. Domestic
- 7.3.2. International
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. U.K.
- 7.4.1.1. Market Analysis, Insights and Forecast – By Airline Route
- 7.4.1.1.1. Domestic
- 7.4.1.1.2. International
- 7.4.2. Germany
- 7.4.2.1. Market Analysis, Insights and Forecast – By Airline Route
- 7.4.2.1.1. Domestic
- 7.4.2.1.2. International
- 7.4.3. France
- 7.4.3.1. Market Analysis, Insights and Forecast – By Airline Route
- 7.4.3.1.1. Domestic
- 7.4.3.1.2. International
- 7.4.4. Italy
- 7.4.4.1. Market Analysis, Insights and Forecast – By Airline Route
- 7.4.4.1.1. Domestic
- 7.4.4.1.2. International
- 7.4.5. Rest of the Europe
- 7.4.5.1. Market Analysis, Insights and Forecast – By Airline Route
- 7.4.5.1.1. Domestic
- 7.4.5.1.2. International
- 8. Asia Pacific In-Flight Advertising Services Market Analysis, Insights and Forecast, 2019-2030
- 8.1. Market Analysis, Insights and Forecast – By Advertising Platform
- 8.1.1. Conventional Advertising
- 8.1.1.1. In-Flight Magazine
- 8.1.1.2. Tray tables and Headrests
- 8.1.1.3. Over Head Bins
- 8.1.1.4. Boarding Pass and Bag Tags
- 8.1.1.5. Others
- 8.1.2. Digital Advertising
- 8.1.2.1. Digital Magazine
- 8.1.2.2. In-Flight Entertainment System
- 8.2. Market Analysis, Insights and Forecast – By Airline Type
- 8.2.1. Low-Cost Airline
- 8.2.2. Full-Service Airline
- 8.3. Market Analysis, Insights and Forecast – By Airline Route
- 8.3.1. Domestic
- 8.3.2. International
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. China
- 8.4.1.1. Market Analysis, Insights and Forecast – By Airline Route
- 8.4.1.1.1. Domestic
- 8.4.1.1.2. International
- 8.4.2. India
- 8.4.2.1. Market Analysis, Insights and Forecast – By Airline Route
- 8.4.2.1.1. Domestic
- 8.4.2.1.2. International
- 8.4.3. Japan
- 8.4.3.1. Market Analysis, Insights and Forecast – By Airline Route
- 8.4.3.1.1. Domestic
- 8.4.3.1.2. International
- 8.4.4. Australia
- 8.4.4.1. Market Analysis, Insights and Forecast – By Airline Route
- 8.4.4.1.1. Domestic
- 8.4.4.1.2. International
- 8.4.5. Singapore
- 8.4.5.1. Market Analysis, Insights and Forecast – By Airline Route
- 8.4.5.1.1. Domestic
- 8.4.5.1.2. International
- 8.4.6. Rest of Asia Pacific
- 8.4.6.1. Market Analysis, Insights and Forecast – By Airline Route
- 8.4.6.1.1. Domestic
- 8.4.6.1.2. International
- 9. The Middle East In-Flight Advertising Services Market Analysis, Insights and Forecast, 2019-2030
- 9.1. Market Analysis, Insights and Forecast – By Advertising Platform
- 9.1.1. Conventional Advertising
- 9.1.1.1. In-Flight Magazine
- 9.1.1.2. Tray tables and Headrests
- 9.1.1.3. Over Head Bins
- 9.1.1.4. Boarding Pass and Bag Tags
- 9.1.1.5. Others
- 9.1.2. Digital Advertising
- 9.1.2.1. Digital Magazine
- 9.1.2.2. In-Flight Entertainment System
- 9.2. Market Analysis, Insights and Forecast – By Airline Type
- 9.2.1. Low-Cost Airline
- 9.2.2. Full-Service Airline
- 9.3. Market Analysis, Insights and Forecast – By Airline Route
- 9.3.1. Domestic
- 9.3.2. International
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. UAE
- 9.4.1.1. Market Analysis, Insights and Forecast – By Airline Route
- 9.4.1.1.1. Domestic
- 9.4.1.1.2. International
- 9.4.2. Saudi Arabia
- 9.4.2.1. Market Analysis, Insights and Forecast – By Airline Route
- 9.4.2.1.1. Domestic
- 9.4.2.1.2. International
- 9.4.3. Qatar
- 9.4.3.1. Market Analysis, Insights and Forecast – By Airline Route
- 9.4.3.1.1. Domestic
- 9.4.3.1.2. International
- 9.4.4. Rest of the Middle East
- 9.4.4.1. Market Analysis, Insights and Forecast – By Airline Route
- 9.4.4.1.1. Domestic
- 9.4.4.1.2. International
- 10. Rest of the World In-Flight Advertising Services Market Analysis, Insights and Forecast, 2019-2030
- 10.1. Market Analysis, Insights and Forecast – By Advertising Platform
- 10.1.1. Conventional Advertising
- 10.1.1.1. In Flight Magazine
- 10.1.1.2. Tray tables and Head Rests
- 10.1.1.3. Over Head Bins
- 10.1.1.4. Boarding Pass and Bag Tags
- 10.1.1.5. Others
- 10.1.2. Digital Advertising
- 10.1.2.1. Digital Magazine
- 10.1.2.2. In-Flight Entertainment System
- 10.2. Market Analysis, Insights and Forecast – By Airline Type
- 10.2.1. Low-Cost Airline
- 10.2.2. Full-Service Airline
- 10.3. Market Analysis, Insights and Forecast – By Airline Route
- 10.3.1. Domestic
- 10.3.2. International
- 10.4. Market Analysis, Insights and Forecast – By Sub-Region
- 10.4.1. Latin America
- 10.4.1.1. Market Analysis, Insights and Forecast – By Airline Route
- 10.4.1.1.1. Domestic
- 10.4.1.1.2. International
- 10.4.2. Africa
- 10.4.2.1. Market Analysis, Insights and Forecast – By Airline Route
- 10.4.2.1.1. Domestic
- 10.4.2.1.2. International
- 11. Competitive Analysis
- 11.1. Global In-Flight Advertising Services Market Rank Analysis (2022)
- 11.2. Competition Dashboard
- 12. Company Profiles
- 12.1. In-flight Media.com (U.S.)
- 12.1.1. Overview
- 12.1.2. Products & Services
- 12.1.3. SWOT analysis
- 12.1.4. Recent developments
- 12.1.5. strategies
- 12.1.6. financials (based on availability
- 12.2. IMM International (France)
- 12.2.1. Overview
- 12.2.2. Products & Services
- 12.2.3. SWOT analysis
- 12.2.4. Recent developments
- 12.2.5. strategies
- 12.2.6. financials (based on availability
- 12.3. EAM Advertising LLC (U.S.)
- 12.3.1. Overview
- 12.3.2. Products & Services
- 12.3.3. SWOT analysis
- 12.3.4. Recent developments
- 12.3.5. strategies
- 12.3.6. financials (based on availability
- 12.4. Panasonic Avionics Corporation (U.S.)
- 12.4.1. Overview
- 12.4.2. Products & Services
- 12.4.3. SWOT analysis
- 12.4.4. Recent developments
- 12.4.5. strategies
- 12.4.6. financials (based on availability
- 12.5. Spafax Group (U.K.)
- 12.5.1. Overview
- 12.5.2. Products & Services
- 12.5.3. SWOT analysis
- 12.5.4. Recent developments
- 12.5.5. strategies
- 12.5.6. financials (based on availability
- 12.6. PXCOM (France)
- 12.6.1. Overview
- 12.6.2. Products & Services
- 12.6.3. SWOT analysis
- 12.6.4. Recent developments
- 12.6.5. strategies
- 12.6.6. financials (based on availability
- 12.7. The Emirates Group (UAE)
- 12.7.1. Overview
- 12.7.2. Products & Services
- 12.7.3. SWOT analysis
- 12.7.4. Recent developments
- 12.7.5. strategies
- 12.7.6. financials (based on availability
- 12.8. INK-Global.com (U.K.)
- 12.8.1. Overview
- 12.8.2. Products & Services
- 12.8.3. SWOT analysis
- 12.8.4. Recent developments
- 12.8.5. strategies
- 12.8.6. financials (based on availability
- 12.9. SmartAds (Flutter Media Pvt. Ltd.) ( India)
- 12.9.1. Overview
- 12.9.2. Products & Services
- 12.9.3. SWOT analysis
- 12.9.4. Recent developments
- 12.9.5. strategies
- 12.9.6. financials (based on availability
- 12.10. Aviation OOH (India)
- 12.10.1. Overview
- 12.10.2. Products & Services
- 12.10.3. SWOT analysis
- 12.10.4. Recent developments
- 12.10.5. strategies
- 12.10.6. financials (based on availability
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