Global Solid Oxide Fuel Cell (SOFC) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Solid Oxide Fuel Cell (SOFC) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A solid oxide fuel cell is an electrochemical conversion device that generates electricity directly from oxidized fuel. Fuel cells are characterized by their electrolyte materials. SOFC has solid oxide or ceramic electrolyte.

Market Overview:

The latest research study on the global Solid Oxide Fuel Cell (SOFC) market finds that the global Solid Oxide Fuel Cell (SOFC) market reached a value of USD 1484.8 million in 2022. It’s expected that the market will achieve USD 2903.29 million by 2028, exhibiting a CAGR of 11.82% during the forecast period.

Driving factors

Increased Environmental Awareness
Increased environmental awareness is one of the major drivers driving the development of the SOFC industry both globally and in China. With the increasingly serious problems of climate change and air pollution, people's demand for clean energy and low-carbon life is increasing. As an efficient and environmentally friendly electrochemical conversion technology, SOFC technology can effectively reduce emissions and pollution in the process of energy conversion. , so it has received more and more attention and attention. SOFC produces almost no harmful gas and particulate matter emissions during energy conversion, so it can significantly reduce the degree of air pollution.

Region Overview:

In 2022, the share of the Solid Oxide Fuel Cell (SOFC) market in North America stood at 43.86%.

Company Overview:

The Bloom Energy Server is a distributed power solution purpose-built for the digital age, delivering highly reliable, uninterrupted, 24x7 constant power that is also clean and sustainable. Bloom's unique on-site power generation system is one of the most efficient on the planet, significantly reducing operating costs and significantly reducing greenhouse gas emissions. By generating electricity where it is used, Bloom Energy offers greater reliability of electricity and greater energy security, providing a clear path to energy independence.

Ceres is a leader in climate technologies, enabling the world's most advanced companies to deliver clean energy solutions at scale and speed. Ceres aims to play a central role in the global transition to clean, affordable energy to help combat climate change and air pollution. Its licensing model has seen it form partnerships with some of the world's most progressive companies, including Bosch, Doosan, Shell and Weichai, to develop clean energy systems and products at the scale and speed needed to tackle climate change in power generation, transportation, industry , and everyday life.

Bloom Energy is one of the major players operating in the Solid Oxide Fuel Cell (SOFC) market, holding a share of 87.46% in 2023.

Segmentation Overview:

Among different product types, Planar segment is anticipated to contribute the largest market share in 2028.

Application Overview:

The market's largest segment by application is the segment Distributed Generation System, with a market share of 36.58% in 2022.

Key Companies in the global Solid Oxide Fuel Cell (SOFC) market covered in Chapter 3:

Yanhai Power LLCA
Adelan Ltd
Elcogen
Sunfire
Mitsubishi Heavy Industries
Aisin Seiki
SOLIDpower
Convion
Atrex Energy, Inc
Nexceris
CeresPower
CCTC
FuelCell Energy
Bloom Energy
Dominovas Energy

In Chapter 4 and Chapter 14.2, on the basis of types, the Solid Oxide Fuel Cell (SOFC) market from 2018 to 2029 is primarily split into:

Tubular
Planar
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Solid Oxide Fuel Cell (SOFC) market from 2018 to 2029 covers:

Stationary
Transportation
Portable

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)