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Factors Driving Global SOFC and SOEC Market to Reach USD 6561.6 Mn by 2028

The SOFC and SOEC market covers Tubular, Planar, Others, etc. The typical players include Bloom Energy, Special Power Sources (SPS), Aisin Seiki, Mitsubishi Heavy Industries, Delphi Corp, GE, Convion, FuelCell Energy, etc.

The 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 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.

Due to the COVID-19 pandemic, the global SOFC and SOEC market size is estimated to be worth US$ 1245.5 million in 2022 and is forecast to a readjusted size of US$ 6561.6 million by 2028 with a CAGR of 31.9% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Planar accounting for % of the SOFC and SOEC global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Stationary segment is altered to an % CAGR throughout this forecast period.

The global key SOFC and SOEC manufacturers include Bloom Energy, Aisin Seiki, Mitsubishi Heavy Industries, etc.The top 1 company hold a share about 65%. North America is the largest market, with a share about 45%, followed by Asia Pacific and Europe with the share about 40% and 13%.In terms of product, planar is the largest segment, with a share about 85%. And in terms of application, the largest application is stationary, followed by transportation.

The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.

A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.

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The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.

Segment by Type

  • Planar
  • Tubular
  • Others

Segment by Application

  • Stationary
  • Transportation
  • Portable & Military

By Company

  • Bloom Energy
  • Aisin Seiki
  • Mitsubishi Heavy Industries
  • Solid Power
  • Ceres
  • Convion
  • Special Power Sources (Sps)
  • Redox Power Systems
  • Sunfire Gmbh
  • Fiaxel
  • Ztek Corporation
  • Elcogen
  • Oxeon Energy

Production by Region

  • North America
  • Europe
  • China

Consumption by Region

  • North America (United States, Canada)
  • Europe (Germany, France, U.K., Italy, Russia)
  • Asia-Pacific (China, Japan, South Korea, India, Australia, China Taiwan, Indonesia, Thailand, Malaysia)
  • Latin America (Mexico, Brazil, Argentina)
  • Middle East & Africa (Turkey, Saudi Arabia, UAE)

 

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