Global SOFC and SOEC Market Growth 2025-2031

Global SOFC and SOEC Market Growth 2025-2031

The global SOFC and SOEC market size is predicted to grow from US$ 2065 million in 2025 to US$ 10280 million in 2031; it is expected to grow at a CAGR of 30.7% from 2025 to 2031.

The Solid Oxide Fuel Cell (SOFC) is an all-solid chemical power generation device that directly converts the chemical energy stored in the fuel and oxidizer into electrical energy at medium and high temperature in an efficient and environmentally friendly manner. The SOFC is a type of fuel cell, which is characterized by the use of solid oxide materials as the electrolyte. SOFC uses a solid oxide electrolyte to conduct negative oxygen ions from the cathode to the anode.

The Solid Oxide Electrolyzer Cell (SOEC) is a solid oxide fuel cell that operates in the reverse direction. In the electrolysis mode, under the applied voltage and high temperature, it electrolyzes H2O to produce H2 and O2, and realizes the conversion of electrical and thermal energy into chemical energy.

The world's major SOFC and SOEC manufacturers include Bloom Energy, Aisin Seiki, Mitsubishi Power, etc. The top three manufacturers account for approximately 87% of the global share. North America is the world's largest market, accounting for approximately 64% of the market. The second and third places are Japan and Europe, accounting for 27% and 7% respectively.

In terms of product, planar type is the largest market segment, with a market share of approximately 82%. In terms of application, the largest application is stationary, accounting for about 79%

LP Information, Inc. (LPI) ' newest research report, the “SOFC and SOEC Industry Forecast” looks at past sales and reviews total world SOFC and SOEC sales in 2024, providing a comprehensive analysis by region and market sector of projected SOFC and SOEC sales for 2025 through 2031. With SOFC and SOEC sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world SOFC and SOEC industry.

This Insight Report provides a comprehensive analysis of the global SOFC and 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 SOFC and SOEC portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global SOFC and SOEC market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for SOFC and 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 SOFC and SOEC.

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

Segmentation by Type:
Planar
Tubular
Others

Segmentation by Application:
Stationary
Transportation
Portable & Military

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 analysing the company's coverage, product portfolio, its market penetration.
Bloom Energy
Aisin Seiki
Mitsubishi Power
Ceres
SolydEra
Sunfire GmbH
Convion
Special Power Sources (SPS)
Topsoe
Redox Power Systems
ZTEK Corporation
OxEon Energy

Key Questions Addressed in this Report

What is the 10-year outlook for the global SOFC and SOEC market?

What factors are driving SOFC and SOEC market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do SOFC and SOEC market opportunities vary by end market size?

How does SOFC and SOEC break out by Type, by Application?

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