Solid Oxide Fuel Cell Market - Trends Forecast Till 2028

Solid Oxide Fuel Cell Market, By Type (PEMFC, PAFC, AFC, MFC), Application (Portable, Stationary, Transport and Other Applications), End-User (Fuel Cell Vehicles, Utilities, Defense) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: January, 2021

Base Year Estimate: 2020

Report ID: D-EN-SOFCM-85

Format:  

Number of Pages: 316

Domain: Energy

Solid Oxide Fuel Cell Market – Trends Forecast Till 2028

The global Solid Oxide Fuel Cell market is anticipated to reach USD 852 million by 2025, growing at a CAGR of 26.8% during the forecast period 2021-2028

Solid oxide fuel cells have the potential for development to a sufficient size for applications for commercial electricity generation. Research and product development activities pertaining to utilities and UAVs for the defense sector, along with portable power generation units, have also increased at a significant pace. 

The high focus of the governments worldwide on the utilization of clean energy sources has led to an increase in the overall investments in generating electricity using fuel cells are some of the factors that have supported long-term expansion for the Solid Oxide Fuel Cell market.

Solid Oxide Fuel Cell Market – Trends Forecast Till 2028

Global Solid Oxide Fuel Cell market is segmented into type, application, end-user, and geography.

Type segment is segmented into PEMFC, PAFC, AFC, and MFC.

Application segment is segmented into Portable, Stationary, Transport and other Applications.

End-User segment is segmented into Fuel Cell Vehicles, Utilities, and Defense.

Geographically, the global Solid Oxide Fuel Cell market is sub-segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America, and insights are provided for each region and major countries within the regions

Key players in the global solid oxide fuel cell market are Ballard Power Systems, Cummins, SFC Energy, Bloom Energy, Plug Power, and Fuel Cell Energy, Horizon Fuel Cells, Mitsubishi Hitachi Power Systems, Intelligent Energy, Fuel Cell Energy, Toshiba Energy Systems, and Solution Corporation among others

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In addition to the market data for the Solid Oxide Fuel Cell market, Delvens offers client-centric reports and customized according to the company’s specific demand and requirement.

Research Methodology

Secondary Research

This research method involved the usage of extensive secondary sources (such as directories and databases)—Hoovers, Avention, annual reports, investor presentation, conferences like Jefferies conference)—to identify and collect information useful for this study of the Solid Oxide Fuel Cell market. The purpose of secondary research is to identify and collection of extensive, technical, market-oriented, and commercial studies of the global Solid Oxide Fuel Cell market. Through secondary research, the market is classified and segmented as per industry trends, developments, regional markets, products and technological developments. 

Primary Research

The primary sources mainly included several industry experts from the core and related industries and suppliers, manufacturers, distributors, alliances, and organizations related to all segments of this industry’s supply chain. In-depth interviews were conducted with various primary respondents—including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts—to obtain and verify critical qualitative and quantitative information as well as to assess future prospects. The following figure depicts the market research methodology used in drafting this report on the Solid Oxide Fuel Cell market.

Primary Respondent breakdown is given below:

Primary Respondents

Market Sizing

Top-down and bottom approaches were used to derive the market estimate and validate the total revenue of the Solid Oxide Fuel Cell market. This approach has also been used to derive the market for segmentation and sub-segmentation. 

Data Validation

Impact analysis has been conducted for deriving the market size. After collecting the in-depth quantitative and qualitative data, we contact primary respondents in order to gain a 98.8% of confidence level on our data.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants 

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors
  • Gain authentic and granular data access for the Solid Oxide Fuel Cell market so as to understand the trends and the factors involved in changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Market Revenue In 2020

USD 852 million

Growth Rate

CAGR of 26.8% during the forecasting period, 2021-2028

Historical Data

2018-2019

Forecast Years

2021-2028

Base Year 

2020

Units Considered

Revenue in USD million and CAGR from 2021 to 2028

Report Segmentation

Platform, Application, End-User, Point Of Sale, and Geography

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and the Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

Ballard Power Systems, Cummins, SFC Energy, Bloom Energy, Plug Power, and Fuel Cell Energy, Horizon Fuel Cells, Mitsubishi Hitachi Power Systems, Intelligent Energy, Fuel Cell Energy, Toshiba Energy Systems, and Solution Corporation among others

Available Customization 

In addition to the market data for the Solid Oxide Fuel Cell market, Delvens offers client-centric reports and customized according to the company’s specific demand and requirement.

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