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Market Research Report

Solid Oxide Fuel Cell Market Size, Share & Trends Analysis Report By Application (Stationary, Transportation, Portable), By Region (Europe, APAC, North America), And Segment Forecasts, 2020 - 2027

Published by Grand View Research, Inc. Product code 959598
Published Content info 130 Pages
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Solid Oxide Fuel Cell Market Size, Share & Trends Analysis Report By Application (Stationary, Transportation, Portable), By Region (Europe, APAC, North America), And Segment Forecasts, 2020 - 2027
Published: August 17, 2020 Content info: 130 Pages
Description

Market Growth & Trends

The global solid oxide fuel cell market size is expected to reach USD 3.3 billion by 2027 registering a CAGR of 30.0%, according to a new report by Grand View Research, Inc. The increasing pressure across the countries to decrease carbon emissions while supporting energy safety is a factor favoring the growth of the solid oxide fuel cell (SOFC) market. Furthermore, SOFC has an impressive efficiency ranging between 40 and 60%.

The availability of government funding and collaborations between the companies has paved the way for advancement in technology for the SOFC market. These supportive efforts have resulted in reducing the manufacturing costs of SOFC systems by a substantial amount. Furthermore, the ongoing development is expected to make SOFC more affordable, thereby augmenting the market growth in the forecast period.

Favorable policies and regulations along with plans for implementation of fuel cell systems in the field of power generation by some of the major countries around the world have resulted in market growth. In addition, the availability of subsidies and incentives for SOFC installation is likely to support product adoption in some key markets.

However, the presence of alternative fuel cell technologies in the form of PEMFC, PAFC, MCFC, and AFC hinders market growth. Moreover, high costs of SOFC systems as compared to PEMFC may affect the product demand in various applications, thereby limiting the market growth.

Report Highlights:

  • Stationary application emerged as the largest segment in 2019 owing to increased product adoption for utilization for micro-CHP systems and for large stationary power generation for residential and commercial sectors.
  • Transportation application is expected to emerge as the fastest-growing segment in the forecast period owing to product utilization in fuel cell vehicles as range extenders and for marine applications
  • North America accounted for a significant market share in the past owing to the presence of key companies, such as Bloom Energy, which has installed various large-scale SOFC-based power generation projects in the region
  • Europe is estimated to grow at a significant CAGR over the forecast period owing to the presence of supportive policies and incentives for fuel cell installation for residential and commercial sectors in the region
  • Asia Pacific is expected to be the largest as well as the fastest-growing regional market over the forecast period owing to the implementation of Ene farm program in Japan coupled with favorable policies for fuel cell in South Korea
Table of Contents
Product Code: GVR-1-68038-685-1

Table of Contents

Chapter 1. Methodology and Scope

  • 1.1. Market segmentation & scope
  • 1.2. Information procurement
    • 1.2.1. Purchased database
    • 1.2.2. GVR's internal database
    • 1.2.3. Secondary sources & third-party perspectives
    • 1.2.4. Primary research
  • 1.3. Information analysis
    • 1.3.1. Data analysis models
  • 1.4. Market formulation & data visualization
  • 1.5. Data validation & publishing

Chapter 2. Executive Summary

Chapter 3. Market Definitions

Chapter 4. Solid Oxide Fuel Cell (SOFC) Market Variables, Trends & Scope

  • 4.1. Market Size and Growth Prospects
  • 4.2. Industry Value Chain Analysis
  • 4.3. Technology Overview
    • 4.3.1. Technology Trends
  • 4.4. Regulatory Framework
    • 4.4.1. Policies and Plans by Major Country
    • 4.4.2. Standard and Compliances
  • 4.5. Market Dynamics
    • 4.5.1. Market Driver Analysis
      • 4.5.1.1. Supporting government policies
      • 4.5.1.2. Increasing private-public partnerships
    • 4.5.2. Market Restraint Analysis
      • 4.5.2.1. High production cost
    • 4.5.3. Opportunity Assessment
  • 4.6. Business Environment Analysis Tools
    • 4.6.1. Industry Analysis - Porter's
    • 4.6.2. PESTEL Analysis
  • 4.7. Impact of Corona Virus on Solid Oxide Fuel Cell (SOFC) Market

Chapter 5. Solid Oxide Fuel Cell (SOFC) Market Application Outlook

  • 5.1. Market Size Estimates & Forecasts and Trend Analysis, 2016 - 2027 (Thousand Units) (kW) (USD Million)
  • 5.2. Stationary
    • 5.2.1. Market estimates and forecasts by region, 2016 - 2027 (Thousand Units) (kW) (USD Million)
  • 5.3. Transportation
    • 5.3.1. Market estimates and forecasts by region, 2016 - 2027 (Thousand Units) (kW) (USD Million)
  • 5.4. Portable
    • 5.4.1. Market estimates and forecasts by region, 2016 - 2027 (Thousand Units) (kW) (USD Million)

Chapter 6. Solid Oxide Fuel Cell Regional Outlook

  • 6.1. Solid Oxide Fuel Cell Market, By Region, 2019 & 2027
  • 6.2. North America
    • 6.2.1. Market estimates and forecasts by Application, 2016 - 2027 (Thousand Units) (kW) (USD Million)
    • 6.2.2. The U.S.
      • 6.2.2.1. Market estimates and forecasts by Application, 2016 - 2027 (Thousand Units) (kW) (USD Million)
  • 6.3. Europe
    • 6.3.1. Market estimates and forecasts by Application, 2016 - 2027 (Thousand Units) (kW) (USD Million)
    • 6.3.2. Germany
      • 6.3.2.1. Market estimates and forecasts by Application, 2016 - 2027 (Thousand Units) (kW) (USD Million)
    • 6.3.3. France
      • 6.3.3.1. Market estimates and forecasts by Application, 2016 - 2027 (Thousand Units) (kW) (USD Million)
    • 6.3.4. The U.K.
      • 6.3.4.1. Market estimates and forecasts by Application, 2016 - 2027 (Thousand Units) (kW) (USD Million)
  • 6.4. Asia Pacific
    • 6.4.1. Market estimates and forecasts by Application, 2016 - 2027 (Thousand Units) (kW) (USD Million)
    • 6.4.2. Japan
      • 6.4.2.1. Market estimates and forecasts by Application, 2016 - 2027 (Thousand Units) (kW) (USD Million)
    • 6.4.3. South Korea
      • 6.4.3.1. Market estimates and forecasts by Application, 2016 - 2027 (Thousand Units) (kW) (USD Million)
    • 6.4.4. China
      • 6.4.4.1. Market estimates and forecasts by application, 2016 - 2027 (Thousand Units) (kW) (USD Million)
  • 6.5. Rest of World
    • 6.5.1. Market estimates and forecasts by application, 2016 - 2027 (Thousand Units) (kW) (USD Million)

Chapter 7. Competitive Landscape

  • 7.1. Key Global Players, Recent Market Developments & Their Impact on the Industry
  • 7.2. Major Deals and Strategic Alliances
  • 7.3. Vendor Landscape
    • 7.3.1. Key Company Market Position Analysis

Chapter 8. Company Analysis

  • 8.1. Bloom Energy
    • 8.1.1. Company overview
    • 8.1.2. Financial performance
    • 8.1.3. Product benchmarking
    • 8.1.4. Recent developments
  • 8.2. Mitsubishi Heavy Industries, Ltd.
    • 8.2.1. Company overview
    • 8.2.2. Financial performance
    • 8.2.3. Product benchmarking
    • 8.2.4. Recent developments
  • 8.3. Ceres Power Holdings plc
    • 8.3.1. Company overview
    • 8.3.2. Financial performance
    • 8.3.3. Product benchmarking
    • 8.3.4. Recent developments
  • 8.4. Atrex Energy, Inc.
    • 8.4.1. Company overview
    • 8.4.2. Financial performance
    • 8.4.3. Product benchmarking
    • 8.4.4. Recent Developments
  • 8.5. Watt Fuel Cell Corporation
    • 8.5.1. Company Overview
    • 8.5.2. Financial Performance
    • 8.5.3. Product benchmarking
    • 8.5.4. Recent developments
  • 8.6. Aisin Seiki Co., Ltd.
    • 8.6.1. Company overview
    • 8.6.2. Financial performance
    • 8.6.3. Product benchmarking
    • 8.6.4. Recent developments
  • 8.7. Ensol Systems Inc.
    • 8.7.1. Company Overview
    • 8.7.2. Financial Performance
    • 8.7.3. Product Benchmarking
    • 8.7.4. Recent Developments
  • 8.8. ZTEK Corporation, Inc.
    • 8.8.1. Company Overview
    • 8.8.2. Financial Performance
    • 8.8.3. Product Benchmarking
    • 8.8.4. Recent Developments
  • 8.9. Nexceris
    • 8.9.1. Company overview
    • 8.9.2. Financial performance
    • 8.9.3. Product benchmarking
    • 8.9.4. Recent developments
  • 8.10. KERAFOL Keramische Folien GmbH
    • 8.10.1. Company overview
    • 8.10.2. Financial performance
    • 8.10.3. Product benchmarking
    • 8.10.4. Recent developments
  • 8.11. Fuji Electric Co., Ltd
    • 8.11.1. Company overview
    • 8.11.2. Financial performance
    • 8.11.3. Product benchmarking
    • 8.11.4. Recent developments
  • 8.12. Adaptive Energy, LLC
    • 8.12.1. Company overview
    • 8.12.2. Financial performance
    • 8.12.3. Product benchmarking
    • 8.12.4. Recent developments
  • 8.13. SOLIDpower Group
    • 8.13.1. Company overview
    • 8.13.2. Financial performance
    • 8.13.3. Product benchmarking
    • 8.13.4. Recent developments
  • 8.14. LG Fuel Cell Systems Inc.
    • 8.14.1. Company overview
    • 8.14.2. Financial performance
    • 8.14.3. Product benchmarking
    • 8.14.4. Recent developments
  • 8.15. Sunfire GmbH
    • 8.15.1. Company overview
    • 8.15.2. Financial performance
    • 8.15.3. Product benchmarking
    • 8.15.4. Recent developments

List of Tables

  • TABLE 1 Global stationary SOFC market, 2016 - 2027 (Thousand Units) (kW) (USD Million)
  • TABLE 2 Global transportation SOFC market, 2016 - 2027 (Thousand Units) (kW) (USD Million)
  • TABLE 3 Global portable SOFC market, 2016 - 2027 (Thousand Units) (kW) (USD Million)
  • TABLE 4 North America Solid Oxide Fuel Cell Market by Application, 2016 - 2027 (Thousand Units) (kW) (USD Million)
  • TABLE 5 The U.S. Solid Oxide Fuel Cell Market by Application, 2016 - 2027 (Thousand Units) (kW) (USD Million)
  • TABLE 6 Europe Solid Oxide Fuel Cell Market by Application, 2016 - 2027 (Thousand Units) (kW) (USD Million)
  • TABLE 7 Germany Solid Oxide Fuel Cell Market by Application, 2016 - 2027 (Thousand Units) (kW) (USD Million)
  • TABLE 8 France Solid Oxide Fuel Cell Market by Application, 2016 - 2027 (Thousand Units) (kW) (USD Million)
  • TABLE 9 The U.K. Solid Oxide Fuel Cell Market by Application, 2016 - 2027 (Thousand Units) (kW) (USD Million)
  • TABLE 10 Asia Pacific Solid Oxide Fuel Cell Market by Application, 2016 - 2027 (Thousand Units) (kW) (USD Million)
  • TABLE 11 Japan Solid Oxide Fuel Cell Market by Application, 2016 - 2027 (Thousand Units) (kW) (USD Million)
  • TABLE 12 South Korea Solid Oxide Fuel Cell Market by Application, 2016 - 2027 (Thousand Units) (kW) (USD Million)
  • TABLE 13 China Solid Oxide Fuel Cell Market by Application, 2016 - 2027 (Thousand Units) (kW) (USD Million)
  • TABLE 14 Rest of World Solid Oxide Fuel Cell Market by Application, 2016 - 2027 (Thousand Units) (kW) (USD Million)

List of Figures

  • FIG. 1 Market segmentation & scope
  • FIG. 2 Solid Oxide Fuel Cell market size and growth prospects
  • FIG. 3 SOFC Value chain analysis
  • FIG. 4 Market Dynamics
  • FIG. 5 Porter's Five Forces Analysis
  • FIG. 6 PESTEL Analysis
  • FIG. 7 SOFC market: Application movement analysis
  • FIG. 8 SOFC market: Regional movement analysis
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