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DATE
JAN 2023
TABLES
202
PAGES
269
EDITION
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MCP-1819
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HIGHLIGHTS & REPORT INDEX
What`s New for 2023?
»Special coverage on Russia-Ukraine war; global inflation; easing of "zero-Covid" policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
»Global competitiveness and key competitor percentage market shares
» Market presence across multiple geographies - Strong/Active/Niche/Trivial
»Online interactive peer-to-peer collaborative bespoke updates
»Access to our digital archives and MarketGlass Research Platform
»Complimentary updates for one year
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China’s already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
Global Solid Oxide Fuel Cells (SOFCs) Market to Reach $9.3 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Solid Oxide Fuel Cells (SOFCs) estimated at US$748.9 Million in the year 2022, is projected to reach a revised size of US$9.3 Billion by 2030, growing at a CAGR of 37.1% over the analysis period 2022-2030. Stationary, one of the segments analyzed in the report, is projected to record a 35.5% CAGR and reach US$7 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Transportation segment is readjusted to a revised 40.4% CAGR for the next 8-year period.
The U.S. Market is Estimated at $219.1 Million, While China is Forecast to Grow at 34.8% CAGR
The Solid Oxide Fuel Cells (SOFCs) market in the U.S. is estimated at US$219.1 Million in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.5 Billion by the year 2030 trailing a CAGR of 34.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 33.1% and 31.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 24.5% CAGR.
SELECT PLAYERS
Adelan Ltd.; Atrex Energy Inc.; Bloom Energy Corporation; Ceramic Fuel Cells Limited; Ceres Power Limited; Convion Ltd.; Elcogen AS; FuelCell Energy, Inc.; Hexis AG; SOLIDpower S.p.A.; Sunfire GmbH; Ultra Electronics Holdings Plc
SEGMENTS
» Application (Stationary, Transportation, Portable)
GEOGRAPHIES
» World » United States » Canada » Japan » China » Europe » France » Germany » Italy » United Kingdom » and Rest of Europe » Asia-Pacific » Rest of World
TABLE OF CONTENTS
I. METHODOLOGY |
II. EXECUTIVE SUMMARY |
1. MARKET OVERVIEW |
Influencer Market Insights |
World Market Trajectories |
Fuel Cells - A Rudimentary Overview |
Recent Market Activity |
Solid Oxide Fuel Cells - A Curtain Raiser |
Current and Future Analysis |
Collaborative Effort - Key to Successful Commercialization |
Present Levels of Commercialization |
Solid Oxide Fuel Cells (SOFCs) – Global Key Competitors Percentage Market Share in 2022 (E) |
Impact of Covid-19 and a Looming Global Recession |
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E) |
2. FOCUS ON SELECT PLAYERS |
Adelan Ltd. (UK) |
Atrex Energy, Inc. (USA) |
Bloom Energy Corporation (USA) |
Ceramic Fuel Cells Limited (Australia) |
Ceres Power Limited (UK) |
Convion Ltd. (Finland) |
Elcogen AS (Estonia) |
FuelCell Energy, Inc. (USA) |
Hexis AG (Switzerland) |
SOLIDpower S.p.A. (Italy) |
Sunfire GmbH (Germany) |
Ultra Electronics Holdings Plc (UK) |
3. MARKET TRENDS & DRIVERS |
SOFCs Takes on Competition from Market Leader PEMFC Head-On |
Growing Focus on Environmental Protection to Drive Adoption of SOFCs in Power & Transportation Sector |
Growing Demand for Electricity Driving Demand for SOFCs in Power Sector |
SOFCs Gather Momentum in Stationary Cogeneration/CHP Deployments |
SOFCs: Ideal for Distributed Power Generation |
Growing Focus on Renewable Energy to Add to Market Demand for SOFCs |
Positive Outlook for Fuel Cell Integrated Residential CHPs |
Efforts in Full Swing to Make SOFC a Mainstream Technology for APU in Automobiles |
Factors Indicating Potential Opportunity for SOFCs in Heavy-Duty Trucks and Refrigerated Transport Vehicles |
Opportunities in Military & Defense Sector |
SOFCs Make Perfect Sense for Mobile Networks |
The Role of the Government in Driving the Market’s Future |
Favorable Government Policies Remain Critical to Success |
Investments Pour In, Promising to Expand the Industry’s Scope |
Planar SOFC Remains the Dominant SOFC Technology in the Market |
SOFCs: A Technology of Interest to Developed Countries |
Japan - A Unique Case of Environment Driven and Energy Driven Market |
Developing Nations Set to Follow Developed Markets in Adoption of SOFCs |
China on the Verge of a Fuel Cell Boom |
Technological Developments Widen Scope of Applications for SOFCs |
Technological Innovations Promise to Revolutionize SOFC Manufacturing |
Nano Coatings Emerge as Means to Enhance Durability of SOFC |
SOFC Demand Not Disruptive to Supplies of Rare Earth Elements |
Conventional Power Companies Vie for the SOFC Pie |
4. GLOBAL MARKET PERSPECTIVE |
World Recent Past, Current & Future Analysis for Solid Oxide Fuel Cells (SOFCs) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR |
World Historic Review for Solid Oxide Fuel Cells (SOFCs) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR |
World 15-Year Perspective for Solid Oxide Fuel Cells (SOFCs) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2012, 2021 & 2027 |
World Recent Past, Current & Future Analysis for Stationary by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR |
World Historic Review for Stationary by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR |
World 15-Year Perspective for Stationary by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2021 & 2027 |
World Recent Past, Current & Future Analysis for Transportation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR |
World Historic Review for Transportation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR |
World 15-Year Perspective for Transportation by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2021 & 2027 |
World Recent Past, Current & Future Analysis for Portable by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR |
World Historic Review for Portable by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR |
World 15-Year Perspective for Portable by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2021 & 2027 |
World Solid Oxide Fuel Cells (SOFCs) Market Analysis of Annual Sales in US$ Thousand for Years 2012 through 2027 |
III. MARKET ANALYSIS |
UNITED STATES |
Solid Oxide Fuel Cells (SOFCs) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E) |
USA Recent Past, Current & Future Analysis for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR |
USA Historic Review for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR |
USA 15-Year Perspective for Solid Oxide Fuel Cells (SOFCs) by Application - Percentage Breakdown of Value Sales for Stationary, Transportation and Portable for the Years 2012, 2021 & 2027 |
CANADA |
Canada Recent Past, Current & Future Analysis for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR |
Canada Historic Review for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR |
Canada 15-Year Perspective for Solid Oxide Fuel Cells (SOFCs) by Application - Percentage Breakdown of Value Sales for Stationary, Transportation and Portable for the Years 2012, 2021 & 2027 |
JAPAN |
Solid Oxide Fuel Cells (SOFCs) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E) |
Japan Recent Past, Current & Future Analysis for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR |
Japan Historic Review for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR |
Japan 15-Year Perspective for Solid Oxide Fuel Cells (SOFCs) by Application - Percentage Breakdown of Value Sales for Stationary, Transportation and Portable for the Years 2012, 2021 & 2027 |
CHINA |
Solid Oxide Fuel Cells (SOFCs) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E) |
China Recent Past, Current & Future Analysis for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR |
China Historic Review for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR |
China 15-Year Perspective for Solid Oxide Fuel Cells (SOFCs) by Application - Percentage Breakdown of Value Sales for Stationary, Transportation and Portable for the Years 2012, 2021 & 2027 |
EUROPE |
Solid Oxide Fuel Cells (SOFCs) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E) |
Europe Recent Past, Current & Future Analysis for Solid Oxide Fuel Cells (SOFCs) by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR |
Europe Historic Review for Solid Oxide Fuel Cells (SOFCs) by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR |
Europe 15-Year Perspective for Solid Oxide Fuel Cells (SOFCs) by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2012, 2021 & 2027 |
Europe Recent Past, Current & Future Analysis for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR |
Europe Historic Review for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR |
Europe 15-Year Perspective for Solid Oxide Fuel Cells (SOFCs) by Application - Percentage Breakdown of Value Sales for Stationary, Transportation and Portable for the Years 2012, 2021 & 2027 |
FRANCE |
Solid Oxide Fuel Cells (SOFCs) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E) |
France Recent Past, Current & Future Analysis for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR |
France Historic Review for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR |
France 15-Year Perspective for Solid Oxide Fuel Cells (SOFCs) by Application - Percentage Breakdown of Value Sales for Stationary, Transportation and Portable for the Years 2012, 2021 & 2027 |
GERMANY |
Solid Oxide Fuel Cells (SOFCs) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E) |
Germany Recent Past, Current & Future Analysis for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR |
Germany Historic Review for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR |
Germany 15-Year Perspective for Solid Oxide Fuel Cells (SOFCs) by Application - Percentage Breakdown of Value Sales for Stationary, Transportation and Portable for the Years 2012, 2021 & 2027 |
ITALY |
Italy Recent Past, Current & Future Analysis for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR |
Italy Historic Review for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR |
Italy 15-Year Perspective for Solid Oxide Fuel Cells (SOFCs) by Application - Percentage Breakdown of Value Sales for Stationary, Transportation and Portable for the Years 2012, 2021 & 2027 |
UNITED KINGDOM |
Solid Oxide Fuel Cells (SOFCs) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E) |
UK Recent Past, Current & Future Analysis for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR |
UK Historic Review for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR |
UK 15-Year Perspective for Solid Oxide Fuel Cells (SOFCs) by Application - Percentage Breakdown of Value Sales for Stationary, Transportation and Portable for the Years 2012, 2021 & 2027 |
REST OF EUROPE |
Rest of Europe Recent Past, Current & Future Analysis for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR |
Rest of Europe Historic Review for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR |
Rest of Europe 15-Year Perspective for Solid Oxide Fuel Cells (SOFCs) by Application - Percentage Breakdown of Value Sales for Stationary, Transportation and Portable for the Years 2012, 2021 & 2027 |
ASIA-PACIFIC |
Solid Oxide Fuel Cells (SOFCs) Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E) |
Asia-Pacific Recent Past, Current & Future Analysis for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR |
Asia-Pacific Historic Review for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR |
Asia-Pacific 15-Year Perspective for Solid Oxide Fuel Cells (SOFCs) by Application - Percentage Breakdown of Value Sales for Stationary, Transportation and Portable for the Years 2012, 2021 & 2027 |
REST OF WORLD |
Rest of World Recent Past, Current & Future Analysis for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR |
Rest of World Historic Review for Solid Oxide Fuel Cells (SOFCs) by Application - Stationary, Transportation and Portable Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2012 through 2019 and % CAGR |
Rest of World 15-Year Perspective for Solid Oxide Fuel Cells (SOFCs) by Application - Percentage Breakdown of Value Sales for Stationary, Transportation and Portable for the Years 2012, 2021 & 2027 |
IV. COMPETITION |
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