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Global Solid Oxide Fuel Cell Market By Type (Planar and Tubular), By Application (Transportation, Portable, Others), By End-Users (Auxiliary Power Unit, Data Centers, Others), By Region, Forecast & Opportunities to 2026

The global solid oxide fuel cell market accounted for a value of USD 480 million in 2019 and is projected to register growth at a CAGR of 7.8% during forecast period.

COVID-19 has impacted the SOFC market. The manufacturing industries have to halt its production activities due to lockdown. The supply chain is disrupted due to travel restriction. The ongoing projects are halted which has impacted SOFC market adversely. This market will recover after all the projects start post COVID-19.

Definition:

Solid oxide fuel cell (SOFC) is a device which is used for electrochemical conversion which produces electricity directly from oxidizing fuel. It has a ceramic or solid oxide electrolyte to conduct negative oxygen ions from the cathode to anode. It has fuel flexibility, low emissions and lower cost.

Market Dynamics (Drivers/Opportunities):

The concern towards environmental is increasing among population and the people are demanding clean electrical energy.  This increases the demand for energy generation from conventional sources such as natural gas and coal. This drives growth in solid oxide fuel cell market during forecast period.

The demand for uninterrupted and efficient power generation is increasing among various regions around the globe. This increases demand for solid oxide fuel cell. The need for decarbonize energy end-use is growing immensely. Government is adopting various initiatives to support the SOFC market. This increases the demand for SOFC market during forecast period.

Market Insights, by Type

On the basis of type, the SOFC market is segmented into planar and tubular. The planar segment is estimated to dominate the market during forecast period. The planar type is most common type of SOFC. It is designed in a way that ceramic fuel cell modules are arranged in one above another in a sandwich type. The electrolyte is inserted between the electrodes. The demand and adoption of planar type SOFC devices is increasing and this drives growth in planar segment during forecast period.

Market Insights, by Application

On the basis of application, the SOFC market is segmented into transportation, portable and stationary. The Stationary segment accounted for largest market share. However, the transportation segment is estimated to register growth at highest CAGR during forecast period. The adoption of SOFCs is increasing in transportation sectors such as marine, trucks and automobiles. Many companies are using SOFC system to power ships for instance, The Samsung heavy industries and Bloom energy are working in collaboration to use SOFC system in order to power ships. The adoption of SOFC is increasing in transportation sector rapidly and this drives growth in transportation segment during forecast period.

Regional Insights

North America region is estimated to hold largest market share during forecast period. US is estimated to be the major growth contributor in this region. The SOFCs are largely preferred in this region. The demand and adoption of SOFC along various end-users is increasing. The SOFC research and development sector is growing immensely in this region. This drives growth in North America region during forecast period.

Key Companies & Market Share Insights

The key market players in solid oxide fuel cell industry are Aisin Seiki, Bloom Energy, Convion Fuel Cell Systems, Ceres Power Holding, FuelCell Energy, Hexis, Solidpower, Sunfire, Protonex, Watt Fuel cell Corporation, General Electric, Ztek Corporation, Elcogen, Atrex Energy and Ultra Undersea Sensor Systems.

Segments Covered in the Report

This report forecasts The Global Solid Oxide Fuel Cell Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global solid oxide fuel cell market report on the basis of type, application and end-users.

Solid Oxide Fuel Cell Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Solid Oxide Fuel Cell Market, By Type, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Planar
  • Tubular
  1. Solid Oxide Fuel Cell Market, By Application, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Transportation
  • Portable
  • Stationary
  1. Solid Oxide Fuel Cell Market, By End-Users, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Data Centers
  • Commercial & Retail
  • Portable & Unmanned Systems
  • Telecom Towers
  • Residential
  • Auxiliary Power Unit
  1. Solid Oxide Fuel Cell Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Type
    • By Application
    • By End-Users
    • By Country
      • USA
        • By End-Users
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Type
      • By Application
      • By End-Users
      • By Country
        • Brazil
          • By End-Users
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Type
        • By Application
        • By End-Users
        • By Country
          • UK
            • By End-Users
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Type
          • By Application
          • By End-Users
          • By Country
            • China
              • By End-Users
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Type
            • By Application
            • By End-Users
            • By Country
              • Saudi Arabia
                • By End-Users
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Ultra Undersea Sensor Systems
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • Aisin Seiki
    • Bloom Energy
    • Convion Fuel Cell Systems
    • Ceres Power Holding
    • FuelCell Energy
    • Hexis
    • Solidpowe
    • , Sunfire
    • Protonex
    • Watt Fuel Cell Corporation
    • General Electric
    • Ztek Corporation
    • Elcogen
    • Atrex Energy
  2. Appendix
    • Interrelated Market

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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