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Solid Oxide Fuel Cell Market

Publisher Fortune Business Insights Pvt. Ltd.
Published Oct 01, 2024
Length 188 Pages
SKU # FOB19224132

Description

Solid Oxide Fuel Cell Market



Growth Factors of Solid Oxide Fuel Cell (SOFC) Market

The global solid oxide fuel cell (SOFC) market size was valued at USD 1.67 billion in 2023 and is projected to grow from USD 2.08 billion in 2024 to USD 15.27 billion by 2032, exhibiting a CAGR of 28.32% during the forecast period of 2024-2032.

The COVID-19 pandemic prompted initial disruptions within the Solid Oxide Fuel Cell (SOFC) market, affecting delivery chains and manufacturing. However, multiplied attention on effortless power and sustainability, alongside authorities' incentives for inexperienced technology, drove renewed hobby and accelerated adoption of SOFCs in the electricity era and commercial sectors after the pandemic, impeding the solid oxide fuel cell (SOFC) market growth.

The demand pushes the Solid Oxide Fuel Cell (SOFC) market for easy strength, technological improvements, and authorities' help for renewable strength answers. SOFCs' performance and low emissions boost their adoption throughout numerous sectors.

Solid oxide gas cells (SOFCs) are increasingly vital in integrating renewable strength resources into the grid. As strength storage gadgets, SOFCs can help in balancing the intermittent nature of solar and wind electricity, storing more incredible energy at some stage in height manufacturing durations and freeing it for the duration of durations of low production, increasing the strong oxide gasoline cellular (SOFC) market share globally. Additionally, SOFCs can be included in microgrids, offering dependable and green energy delivery for nearby communities. This lets in greater power independence and resilience, specifically in a ways-off or off-grid region.

Comprehensive Analysis of Solid Oxide Fuel Cell (SOFC) Market

The Solid Oxide Fuel Cell (SOFC) marketplace is segmented into utility and quit-user. By utility, the market is split into stationary, delivery, and portable segments, with desk-bound SOFCs predicted to lead because of growing strength calls for and the need for low-carbon energy solutions. The delivery area is poised to increase because of the growing demand for medium and heavy-obligation automobiles. By cease-person, the industrial area is ready to dominate the marketplace, driven by the need for easy strength on the website. The facts facilities segment is likewise anticipated to grow, even as the army and defense sector benefit from using superior unmanned vehicles.

The Asia Pacific region led the solid oxide fuel cell (SOFC) market by benefitting a size of USD 830 million in 2023 due to massive authorities' targets for gas cellular generation, rapid urbanization, and industrialization.

The leading players in the Solid Oxide Fuel Cell (SOFC) market significantly shape its growth trajectory and set industry standards. These key players, including Ceres (U.K.), Bloom Energy (U.S.), Convion (Finland), AVL (Austria), AISIN (Japan), SOLIDpower Italia (Italy), Bosch (Germany), Mitsubishi Power (Japan), FuelCell Energy, Inc. (U.S.), Catator AB (Sweden), Elcogen (Estonia), Nexceris, LLC (U.S.), Suzhou Huatsing Jingkun New Energy Technology Co., Ltd. (China), and Sunfire GmbH (Germany), contribute to a competitive landscape, driving innovation and market advancement.

In February 2024, Bloom Energy, a fuel cell provider, improved its power servers to reveal load fluctuations modify to varying demand, and deliver in microgrids and utilities. Their 'Be Flexible' solution operates on 'both aspects of the meter,' making it appropriate for statistics center providers and corporations inside microgrids. Additionally, utilities can use gas cells to deal with shortfalls in generation from other strength resources.

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 28.32% from 2024 to 2032

Unit Volume (MW) and Value (USD Billion)

Segmentation By Application
  • Stationary
  • Transport
  • Portable
By End-User
  • Commercial
  • Data Centers
  • Military & Defense
  • Others
By Geography
  • North America (By Application, By End-user, By Country)
  • U.S.
  • Canada
  • Europe (By Application, By End-user, By Country)
  • U.K.
  • Germany
  • France
  • Italy
  • Sweden
  • Rest of Europe
  • Asia Pacific (By Application, By End-user, By Country)
  • China
  • South Korea
  • Japan
  • Rest of Asia Pacific
  • Rest of the World (By Application, By End-user, By Country)

Table of Contents

188 Pages
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 Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Regulatory Landscape
4.4. Industry SWOT Analysis
4.5. Porters Five Forces Analysis
4.6. Impact of COVID-19 on the Solid Oxide Fuel Cell Market
5. Global Solid Oxide Fuel Cell Market Analysis (MW, USD Billion), Insights and Forecast, 2019-2032
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Application
5.2.1. Stationary
5.2.2. Transport
5.2.3. Portable
5.3. Market Analysis, Insights and Forecast – By End-User
5.3.1. Commercial
5.3.2. Data Centers
5.3.3. Military & Defense
5.3.4. Others
5.4. Market Analysis, Insights and Forecast – By Region
5.4.1. North America
5.4.2. Europe
5.4.3. Asia Pacific
5.4.4. Rest of the World
6. North America Solid Oxide Fuel Cell Market Analysis (MW, USD Billion), Insights and Forecast, 2019-2032
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Application
6.2.1. Stationary
6.2.2. Transport
6.2.3. Portable
6.3. Market Analysis, Insights and Forecast – By End-User
6.3.1. Commercial
6.3.2. Data Centers
6.3.3. Military & Defense
6.3.4. Others
6.4. Market Analysis, Insights and Forecast – By Country
6.4.1. U.S.
6.4.2. Canada
7. Europe Solid Oxide Fuel Cell Market Analysis (MW, USD Billion), Insights and Forecast, 2019-2032
7.1. Key Findings / Summary
7.2. Market Analysis, Insights and Forecast – By Application
7.2.1. Stationary
7.2.2. Transport
7.2.3. Portable
7.3. Market Analysis, Insights and Forecast – By End-User
7.3.1. Commercial
7.3.2. Data Centers
7.3.3. Military & Defense
7.3.4. Others
7.4. Market Analysis, Insights and Forecast – By Country
7.4.1. UK
7.4.2. Germany
7.4.3. France
7.4.4. Italy
7.4.5. Sweden
7.4.6. Rest of Europe
8. Asia Pacific Solid Oxide Fuel Cell Market Analysis (MW, USD Billion), Insights and Forecast, 2019-2032
8.1. Key Findings / Summary
8.2. Market Analysis, Insights and Forecast – By Application
8.2.1. Stationary
8.2.2. Transport
8.2.3. Portable
8.3. Market Analysis, Insights and Forecast – By End-User
8.3.1. Commercial
8.3.2. Data Centers
8.3.3. Military & Defense
8.3.4. Others
8.4. Market Analysis, Insights and Forecast – By Country
8.4.1. China
8.4.2. South Korea
8.4.3. Japan
8.4.4. Rest of Asia Pacific
9. Rest of the World Solid Oxide Fuel Cell Market Analysis (MW, USD Billion), Insights and Forecast, 2019-2032
9.1. Key Findings / Summary
9.2. Market Analysis, Insights and Forecast – By Application
9.2.1. Stationary
9.2.2. Transport
9.2.3. Portable
9.3. Market Analysis, Insights and Forecast – By End-User
9.3.1. Commercial
9.3.2. Data Centers
9.3.3. Military & Defense
9.3.4. Others
10. Competitive Analysis
10.1. Company Market Share Analysis, 2023
10.2. Company Profile
10.2.1. Bloom Energy
10.2.1.1. Business Overview
10.2.1.2. Product & Service Offering
10.2.1.3. Overall Revenue
10.2.1.4. Geographic Presence
10.2.1.5. Recent Development
10.2.2. Ceres Power
10.2.2.1. Business Overview
10.2.2.2. Product & Service Offering
10.2.2.3. Overall Revenue
10.2.2.4. Geographic Presence
10.2.2.5. Recent Development
10.2.3. FuelCell Energy
10.2.3.1. Business Overview
10.2.3.2. Product & Service Offering
10.2.3.3. Overall Revenue
10.2.3.4. Geographic Presence
10.2.3.5. Recent Development
10.2.4. AVL
10.2.4.1. Business Overview
10.2.4.2. Product & Service Offering
10.2.4.3. Overall Revenue
10.2.4.4. Geographic Presence
10.2.4.5. Recent Development
10.2.5. Catator
10.2.5.1. Business Overview
10.2.5.2. Product & Service Offering
10.2.5.3. Overall Revenue
10.2.5.4. Geographic Presence
10.2.5.5. Recent Development
10.2.6. Bosch
10.2.6.1. Business Overview
10.2.6.2. Product & Service Offering
10.2.6.3. Overall Revenue
10.2.6.4. Geographic Presence
10.2.6.5. Recent Development
10.2.7. Convion
10.2.7.1. Business Overview
10.2.7.2. Product & Service Offering
10.2.7.3. Overall Revenue
10.2.7.4. Geographic Presence
10.2.7.5. Recent Development
10.2.8. Elcogen
10.2.8.1. Business Overview
10.2.8.2. Product & Service Offering
10.2.8.3. Overall Revenue
10.2.8.4. Geographic Presence
10.2.8.5. Recent Development
10.2.9. SOLIDpower Group
10.2.9.1. Business Overview
10.2.9.2. Product & Service Offering
10.2.9.3. Overall Revenue
10.2.9.4. Geographic Presence
10.2.9.5. Recent Development
10.2.10. AISIN SEIKI
10.2.10.1. Business Overview
10.2.10.2. Product & Service Offering
10.2.10.3. Overall Revenue
10.2.10.4. Geographic Presence
10.2.10.5. Recent Development
10.2.11. Mitsubishi Hitachi Power Systems
10.2.11.1. Business Overview
10.2.11.2. Product & Service Offering
10.2.11.3. Overall Revenue
10.2.11.4. Geographic Presence
10.2.11.5. Recent Development
10.2.12. Suzhou Huatsing Jingkun New Energy Technology Co., Ltd.
10.2.12.1. Business Overview
10.2.12.2. Product & Service Offering
10.2.12.3. Overall Revenue
10.2.12.4. Geographic Presence
10.2.12.5. Recent Development
10.2.13. Sunfire GmbH
10.2.13.1. Business Overview
10.2.13.2. Product & Service Offering
10.2.13.3. Overall Revenue
10.2.13.4. Geographic Presence
10.2.13.5. Recent Development
10.2.14. Nexceris, LLC
10.2.14.1. Business Overview
10.2.14.2. Product & Service Offering
10.2.14.3. Overall Revenue
10.2.14.4. Geographic Presence
10.2.14.5. Recent Development

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