SOFC and SOEC market is projected to reach US$ 7656.7 million in 2029, increasing from US$ 1289.7 million in 2022, with the CAGR of 29.6% - Valuates Reports

SOFC and SOEC market is projected to reach US$ 7656.7 million in 2029, increasing from US$ 1289.7 million in 2022, with the CAGR of 29.6% during the period of 2023 to 2029.

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The Solid Oxide Fuel Cell (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 Solid Oxide Electrolyzer Cell (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.
global SOFC and SOEC market is projected to reach US$ 7656.7 million in 2029, increasing from US$ 1289.7 million in 2022, with the CAGR of 29.6% during the period of 2023 to 2029. Influencing issues, such as economy environments, COVID-19 and Russia-Ukraine War, have led to great market fluctuations in the past few years and are considered comprehensively in the whole SOFC and SOEC market research.
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.

This report, based on historical analysis (2018-2022) and forecast calculation (2023-2029), aims to help readers to get a comprehensive understanding of global SOFC and SOEC market with multiple angles, which provides sufficient supports to readers' strategy and decision making.

Segment by Type
Planar
Tubular
Others

Segment by Application
Stationary
Transportation
Portable & Military

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