Global SOEC Market Growth (Status and Outlook) 2023-2029

Global SOEC Market Growth (Status and Outlook) 2023-2029


The global SOEC market size is projected to grow from US$ 33 million in 2022 to US$ 1099.7 million in 2029; it is expected to grow at a CAGR of 64.8% from 2023 to 2029.

The key manufacturers of solid oxide electrolyzer (SOEC) include Sunfire GmbH, Topsoe, OxEon Energy, Ceres, Elcogen, FuelCell Energy, Egen Energy, etc. Sunfire GmbH is the world's largest manufacturer with a market share of about 50%.

Europe is the biggest market, accounting for about 52%. It is followed by North America, with about 24%. The market share in Europe and China is expected to increase further.

SOEC is mainly divided into Oxygen Ion Conducting and Proton Conducting. Oxygen Ion Conducting has a dominant market share of about 95%.

SOEC is mainly used in chemicals and refineries, power plants, steel plants and other factories. It is most widely used in chemical and refineries, accounting for about 50% of all downstream industries.

A solid oxide electrolyzer cell (SOEC) is a solid oxide fuel cell that runs in regenerative mode to achieve the electrolysis of water (and/or carbon dioxide) by using a solid oxide, or ceramic, electrolyte to produce hydrogen gas (and/or carbon monoxide) and oxygen. The production of pure hydrogen is compelling because it is a clean fuel that can be stored, making it a potential alternative to batteries, methane, and other energy sources (see hydrogen economy). Electrolysis is currently the most promising method of hydrogen production from water due to high efficiency of conversion and relatively low required energy input when compared to thermochemical and photocatalytic methods.

LPI (LP Information)' newest research report, the “SOEC Industry Forecast” looks at past sales and reviews total world SOEC sales in 2022, providing a comprehensive analysis by region and market sector of projected SOEC sales for 2023 through 2029. With SOEC sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world SOEC industry.

This Insight Report provides a comprehensive analysis of the global SOEC landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on SOEC portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global SOEC market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for SOEC and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global SOEC.

This report presents a comprehensive overview, market shares, and growth opportunities of SOEC market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Oxygen Ion Conducting
Proton Conducting

Segmentation by application
Chemicals and Refineries
Power Plants
Steel Plant
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Sunfire GmbH
Topsoe
OxEon Energy
Ceres
Elcogen
FuelCell Energy
Egen Energy

Please note: The report will take approximately 2 business days to prepare and deliver.


*This is a tentative TOC and the final deliverable is subject to change.*
1 Scope of the Report
2 Executive Summary
3 SOEC Market Size by Player
4 SOEC by Regions
5 Americas
6 APAC
7 Europe
8 Middle East & Africa
9 Market Drivers, Challenges and Trends
10 Global SOEC Market Forecast
11 Key Players Analysis
12 Research Findings and Conclusion

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