Solid Oxide Fuel Cell (SOFC) Market Report: Trends, Forecast and Competitive Analysis to 2030

Solid Oxide Fuel Cell (SOFC) Trends and Forecast

The future of the global solid oxide fuel cell (SOFC) market looks promising with opportunities in the commercial & industrial, residential, military & defense, and data center markets. The global solid oxide fuel cell (SOFC) market is expected to reach an estimated $2.8 billion by 2030 with a CAGR of 30.4% from 2024 to 2030. The major drivers for this market are growing demand for clean energy, rising stringent environmental regulations, and growing demand for distributed generation.

A more than 150-page report is developed to help in your business decisions.

Solid Oxide Fuel Cell (SOFC) by Segment

The study includes a forecast for the global solid oxide fuel cell (SOFC) by type, component, end use, and region.

Solid Oxide Fuel Cell (SOFC) Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Planar
• Tubular

Solid Oxide Fuel Cell (SOFC) Market by Component [Shipment Analysis by Value from 2018 to 2030]:

• Stack
• Balance of Plant

Solid Oxide Fuel Cell (SOFC) Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Commercial & Industrial
• Residential
• Military & Defense
• Data Centers

Solid Oxide Fuel Cell (SOFC) Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Solid Oxide Fuel Cell (SOFC) Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies solid oxide fuel cell (SOFC) companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the solid oxide fuel cell (SOFC) companies profiled in this report include-

• Bloom Energy
• Mitsubishi Power
• Cummins
• Ceres
• General Electric
• Fuelcell Energy
• AVL

Solid Oxide Fuel Cell (SOFC) Market Insights

Lucintel forecasts that planar is expected to witness highest growth over the forecast period due to its advantages like compact structure, more powerful power densities and heavy system designs.

APAC is expected to witness highest growth over the forecast period due to rapid urbanization and growing need for electricity across the region.

Features of the Global Solid Oxide Fuel Cell (SOFC) Market

Market Size Estimates: Solid oxide fuel cell (SOFC) market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Solid oxide fuel cell (SOFC) market size by type, component, end use, and region in terms of value ($B).

Regional Analysis: Solid oxide fuel cell (SOFC) market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, components, end uses, and regions for the solid oxide fuel cell (SOFC) market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the solid oxide fuel cell (SOFC) market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the solid oxide fuel cell (SOFC) market size?

Answer: The global solid oxide fuel cell (SOFC) market is expected to reach an estimated $2.8 billion by 2030.

Q2. What is the growth forecast for solid oxide fuel cell (SOFC) market?

Answer: The global solid oxide fuel cell (SOFC) market is expected to grow with a CAGR of 30.4% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the solid oxide fuel cell (SOFC) market?

Answer: The major drivers for this market are growing demand for clean energy, rising stringent environmental regulations, and growing demand for distributed generation.

Q4. What are the major segments for solid oxide fuel cell (SOFC) market?

Answer: The future of the solid oxide fuel cell (SOFC) market looks promising with opportunities in the commercial & industrial, residential, military & defense, and data center markets.

Q5. Who are the key solid oxide fuel cell (SOFC) market companies?

Answer: Some of the key solid oxide fuel cell (SOFC) companies are as follows:

• Bloom Energy
• Mitsubishi Power
• Cummins
• Ceres
• General Electric
• Fuelcell Energy
• AVL

Q6. Which solid oxide fuel cell (SOFC) market segment will be the largest in future?

Answer: Lucintel forecasts that planar is expected to witness highest growth over the forecast period due to its advantages like compact structure, more powerful power densities and heavy system designs.

Q7. In solid oxide fuel cell (SOFC) market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to rapid urbanization and growing need for electricity across the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the solid oxide fuel cell (SOFC) market by type (planar and tubular), component (stack and balance of plant), end use (commercial & industrial, residential, military & defense, and data centers), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?