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PUBLISHER: Grand View Research | PRODUCT CODE: 1530517
PUBLISHER: Grand View Research | PRODUCT CODE: 1530517
Solid Oxide Fuel Cell Market Size, Share & Trends Analysis Report By Application (Transportation, Portable, Industrial), By Region, And Segment Forecasts, 2024 - 2030
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PAGES: 71 Pages
DELIVERY TIME: 2-10 business days
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Solid Oxide Fuel Cell Market Growth & Trends:
The global solid oxide fuel cell market size is expected to reach USD 7,124.40 million by 2030, registering a CAGR of 40.7% according to a new report by Grand View Research, Inc. Growing expenditure on infrastructure and industry development is expected to have a positive impact on the global market in the forecast period.
Installers and system providers usually hold stock of significant equipment in the inventory. However, manufacturers face bottlenecks and shortages due to the limited production in countries, severely affected by the COVID-19. Further, upcoming Solid oxide fuel cells (SOFC) based large-scale projects are expected to witness delays in commissioning due to the disruptions in supply chain and halting of on-site construction activities.
Rising awareness about alternative sources of energy is one of the major factors encouraging market growth. Increasing carbon emission levels is a global issue, and government authorities worldwide are supporting technological advancements to tackle the issue by providing research funding and drafting supportive policies and plans.
The global SOFC market is highly competitive owing to the ongoing technological advancements by the existing vendors and new entrants. Market players are concentrating on strengthening their relations with system installers due to their strong local presence and close ties with the clients, which in turn is likely to help enhance geographical presence.
Solid Oxide Fuel Cell Market Report Highlights:
- In terms of revenue, the stationary segment accounted for a prominent market share of 81.49% in 2023 and is further expected to witness major growth during the forecast period
- As of 2023, the Asia Pacific accounted for 49.48% revenue share in the overall SOFC market
- In Europe, Germany dominated the market by the revenue share during 2023
- Government funding and aggressive mergers & acquisitions between companies for alternative energy technologies contribute to heavy investments in Europe. Transportation is predicted to be the viable segment for the utilization of solid oxide fuel cells during the coming years
Product Code: GVR-1-68038-685-1
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market Segmentation & Scope
- 1.2 Market Definition
- 1.3 Information Procurement
- 1.3.1 Purchased Database
- 1.3.2 GVR's Internal Database
- 1.3.3 Secondary Sources
- 1.3.4 Third-Party Perspective
- 1.3.5 Primary Research
- 1.4 Information Analysis
- 1.4.1 Data Analysis Models
- 1.5 Market Formulation and Data Visualization
- 1.6 Data Validation and Publishing
Chapter 2 Executive Summary
- 2.1 Market Summary
Chapter 3 Market Variables, Trends & Scope
- 3.1 Market Lineage Outlook
- 3.1.1 Global Fuel cell Market Outlook
- 3.2 Penetration & Growth Prospect Mapping
- 3.3 Industry value chain analysis
- 3.4 Technology Overview
- 3.4.1 Technology Trends
- 3.5 Regulatory Framework
- 3.5.1 Policies and Plans by Major Country
- 3.5.1.1 U.S.
- 3.5.1.2 Germany
- 3.5.1.3 China
- 3.5.1.4 Japan
- 3.5.2 Standard and Compliances
- 3.5.1 Policies and Plans by Major Country
- 3.6 Market Dynamics
- 3.6.1 Market Driver Analysis
- 3.6.1.1 Increasing private-public partnerships
- 3.6.1.2 Reduced environmental impact
- 3.6.2 Market Restraint Analysis
- 3.6.2.1 High cost of solid oxide fuel cell systems
- 3.6.3 Market Opportunity Analysis
- 3.6.1 Market Driver Analysis
- 3.7 Solid Oxide Fuel Cell Industry Analysis - Porter's
- 3.8 Solid Oxide Fuel Cell Industry Analysis - PESTEL analysis
- 3.9 Impact of Corona Virus on Solid Oxide Fuel Cell (SOFC) Market
- 3.9.1 Challenges
- 3.9.2 Steps Taken
- 3.9.3 Impact Verdict - Medium
Chapter 4 Global SOFC Market: Application Estimates & Trend Analysis
- 4.1 Global SOFC Market: Application Movement Analysis, 2023 & 2030
- 4.2 Market size & forecasts and trend analysis, 2019 to 2030 for the following:
- 4.2.1 Stationary
- 4.2.1.1 Global SOFC market estimates and forecasts, by Stationary Application, 2019 - 2030 (Thousand Units) (KW) (USD Million)
- 4.2.2 Transportation
- 4.2.2.1 Global SOFC market estimates and forecasts, by Transportation Application, 2019 - 2030 (Thousand Units) (KW) (USD Million)
- 4.2.3 Portable
- 4.2.3.1 Global SOFC market estimates and forecasts, by portable Application, 2019 - 2030 (Thousand Units) (KW) (USD Million)
- 4.2.1 Stationary
Chapter 5 Global SOFC Market: Regional Estimates & Trend Analysis
- 5.1 Global SOFC Market: Regional Movement Analysis, 2023 & 2030
- 5.2 North America
- 5.2.1 North America SOFC market estimates and forecasts, by Application, 2019 - 2030 (Thousand Units) (KW) (USD Million)
- 5.2.2 U.S.
- 5.2.2.1 U.S. SOFC market estimates and forecasts, by Application, 2019 - 2030 (Thousand Units) (KW) (USD Million)
- 5.3 Europe
- 5.3.1 Europe SOFC market estimates and forecasts, by Application, 2019 - 2030 (Thousand Units) (KW) (USD Million)
- 5.3.2 Germany
- 5.3.2.1 Germany SOFC market estimates and forecasts, by Application, 2019 - 2030 (Thousand Units) (KW) (USD Million)
- 5.3.3 France
- 5.3.3.1 France SOFC market estimates and forecasts, by Application, 2019 - 2030 (Thousand Units) (KW) (USD Million)
- 5.3.4 UK
- 5.3.4.1 UK SOFC market estimates and forecasts, by Application, 2019 - 2030 (Thousand Units) (KW) (USD Million)
- 5.4 Asia Pacific
- 5.4.1 Asia Pacific SOFC market estimates and forecasts, by Application, 2019 - 2030 (Thousand Units) (KW) (USD Million)
- 5.4.2 China
- 5.4.2.1 China SOFC market estimates and forecasts, by Application, 2019 - 2030 (Thousand Units) (KW) (USD Million)
- 5.4.3 Japan
- 5.4.3.1 Japan SOFC market estimates and forecasts, by Application, 2019 - 2030 (Thousand Units) (KW) (USD Million)
- 5.4.4 South Korea
- 5.4.4.1 South Korea SOFC market estimates and forecasts, by Application, 2019 - 2030 (Thousand Units) (KW) (USD Million)
- 5.5 Rest of World
- 5.5.1 Rest of World SOFC market estimates and forecasts, by Application, 2019 - 2030 (Thousand Units) (KW) (USD Million)
Chapter 6 Global SOFC Market - Competitive Landscape
- 6.1 Key Global Players, Recent Market Developments & Their Impact on the Industry
- 6.2 Major Deals and Strategic Alliances
- 6.3 Vendor landscape
- 6.3.1 List of key distributors and channel partners
- 6.3.2 List of Component and Material Supplier/Distributors
- 6.3.3 Company Market Position Analysis
Chapter 7 Company Profiles
- 7.1 Bloom Energy
- 7.1.1 Company Overview
- 7.1.2 Product Benchmarking
- 7.1.3 Financial Performance
- 7.1.4 Strategic Initiatives
- 7.2 Mitsubishi Power, Ltd.
- 7.2.1 Company Overview
- 7.2.2 Product Benchmarking
- 7.2.3 Financial Performance
- 7.2.4 Strategic Initiatives
- 7.3 Ceres
- 7.3.1 Company Overview
- 7.3.2 Product Benchmarking
- 7.3.3 Financial Performance
- 7.3.4 Strategic Initiatives
- 7.4 Cummins Inc.
- 7.4.1 Company Overview
- 7.4.2 Product Benchmarking
- 7.4.3 Financial Performance
- 7.4.4 Strategic Initiatives
- 7.5 GENERAL ELECTRIC
- 7.5.1 Company Overview
- 7.5.2 Product Benchmarking
- 7.5.3 Financial Performance
- 7.6 FuelCell Energy, Inc.
- 7.6.1 Company Overview
- 7.6.2 Product Benchmarking
- 7.6.3 Financial Performance
- 7.6.4 Strategic Initiatives
- 7.7 Ningbo SOFCMAN Energy
- 7.7.1 Company Overview
- 7.7.2 Product Benchmarking
- 7.8 AVL
- 7.8.1 Company Overview
- 7.8.2 Product Benchmarking
- 7.8.3 Strategic Initiatives
- 7.9 NGK SPARK PLUG CO., LTD.
- 7.9.1 Company Overview
- 7.9.2 Product Benchmarking
- 7.10 KYOCERA Corporation
- 7.10.1 Company Overview
- 7.10.2 Product Benchmarking
- 7.10.3 Financial Performance
- 7.11 Watt Fuel Cell Corporation
- 7.11.1 Company Overview
- 7.11.2 Product Benchmarking
- 7.11.3 Strategic Initiatives
Product Code: GVR-1-68038-685-1
List of Tables
- Table 1 Energy Conversion Efficiencies for less than 10 KW
- Table 2 Generation Technologies for Capacities More Than 10 KW
- Table 3 China's fuel cell policies with associated measures taken by respective departments
- Table 4 Japan energy policies
- Table 5 Global SOFC market estimates and forecasts, by stationary application, 2019 - 2030 (Thousand Units) (kW) (USD Million)
- Table 6 Global SOFC market estimates and forecasts, by transportation application, 2019 - 2030 (Thousand Units) (kW) (USD Million)
- Table 7 Global SOFC market estimates and forecasts, by portable application, 2019 - 2030 (Thousand Units) (kW) (USD Million)
- Table 8 North America SOFC market volume, by application, 2019 - 2030 (Thousand Units)
- Table 9 North America SOFC market capacity, by application, 2019 - 2030 (kW)
- Table 10 North America SOFC market revenue, by application, 2019 - 2030 (USD Million)
- Table 11 U.S. SOFC market volume, by application, 2019 - 2030 (Thousand Units)
- Table 12 U.S. SOFC market capacity, by application, 2019 - 2030 (kW)
- Table 13 U.S. SOFC market revenue, by application, 2019 - 2030 (USD Million)
- Table 14 Europe SOFC market volume, by application, 2019 - 2030 (Thousand Units)
- Table 15 Europe SOFC market capacity, by application, 2019 - 2030 (kW)
- Table 16 Europe SOFC market revenue, by application, 2019 - 2030 (USD Million)
- Table 17 Germany SOFC market volume, by application, 2019 - 2030 (Thousand Units)
- Table 18 Germany SOFC market capacity, by application, 2019 - 2030 (kW)
- Table 19 Germany SOFC market revenue, by application, 2019 - 2030 (USD Million)
- Table 20 France SOFC market volume, by application, 2019 - 2030 (Thousand Units)
- Table 21 France SOFC market capacity, by application, 2019 - 2030 (kW)
- Table 22 France SOFC market revenue, by application, 2019 - 2030 (USD Million)
- Table 23 UK SOFC market volume, by application, 2019 - 2030 (Thousand Units)
- Table 24 UK SOFC market capacity, by application, 2019 - 2030 (kW)
- Table 25 UK SOFC market revenue, by application, 2019 - 2030 (USD Million)
- Table 26 Asia Pacific SOFC market volume, by application, 2019 - 2030 (Thousand Units)
- Table 27 Asia Pacific SOFC market capacity, by application, 2019 - 2030 (kW)
- Table 28 Asia Pacific SOFC market revenue, by application, 2019 - 2030 (USD Million)
- Table 29 China SOFC market volume, by application, 2019 - 2030 (Thousand Units)
- Table 30 China SOFC market capacity, by application, 2019 - 2030 (kW)
- Table 31 China SOFC market revenue, by application, 2019 - 2030 (USD Million)
- Table 32 Japan SOFC market volume, by application, 2019 - 2030 (Thousand Units)
- Table 33 Japan SOFC market capacity, by application, 2019 - 2030 (kW)
- Table 34 Japan SOFC market revenue, by application, 2019 - 2030 (USD Million)
- Table 35 South Korea SOFC market volume, by application, 2019 - 2030 (Thousand Units)
- Table 36 South Korea SOFC market capacity, by application, 2019 - 2030 (kW)
- Table 37 South Korea SOFC market revenue, by application, 2019 - 2030 (USD Million)
- Table 38 Rest of World SOFC market volume, by application, 2019 - 2030 (Thousand Units)
- Table 39 Rest of World SOFC market capacity, by application, 2019 - 2030 (kW)
- Table 40 Rest of World SOFC market revenue, by application, 2019 - 2030 (USD Million)
List of Figures
- Fig. 1 Information procurement
- Fig. 2 Primary research pattern
- Fig. 3 Primary research process
- Fig. 4 Primary research approaches
- Fig. 5 Solid Oxide Fuel Cell Market - Market snapshot, 2022 (USD Million)
- Fig. 6 Global Fuel Cell market estimates and forecasts, 2019 - 2030 (MW)
- Fig. 7 Solid Oxide Fuel Cell Market - Penetration & growth prospect mapping
- Fig. 8 Solid Oxide Fuel Cell Market - Industry value chain analysis
- Fig. 9 Operating Principle of a Solid Oxide Fuel Cell
- Fig. 10 Market driver impact analysis
- Fig. 11 Market restraint impact analysis
- Fig. 12 Solid Oxide Fuel Cell Market analysis - Porter's
- Fig. 13 Solid Oxide Fuel Cell Market analysis - PESTEL analysis
- Fig. 14 SOFC market - Application movement analysis, 2023 & 2030 (USD Million)
- Fig. 15 Global SOFC market - Regional movement analysis, 2023 & 2030 (USD Million)
- Fig. 16 Funding for fuel cell development by DOE for FCTO and SOFC program (in USD million)
- Fig. 17 Four quadrant positioning of vendors
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