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Solid Oxide Fuel Cells (SOFCs) - Global Market Trajectory & Analytics

  • ID: 450633
  • Report
  • September 2020
  • Region: Global
  • 122 Pages
  • Global Industry Analysts, Inc
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Global Solid Oxide Fuel Cells (SOFCs) Market to Reach $3.4 Billion by 2027

Amid the COVID-19 crisis, the global market for Solid Oxide Fuel Cells (SOFCs) estimated at US$837.3 Million in the year 2020, is projected to reach a revised size of US$3.4 Billion by 2027, growing at a CAGR of 22% over the analysis period 2020-2027. Remote Power & Auxiliary Power Units (APUs), one of the segments analyzed in the report, is projected to record a 21.7% CAGR and reach US$1.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Combined Heat & Power (CHP) segment is readjusted to a revised 18.5% CAGR for the next 7-year period.

The U. S. Market is Estimated at $250.1 Million, While China is Forecast to Grow at 21.6% CAGR

The Solid Oxide Fuel Cells (SOFCs) market in the U. S. is estimated at US$250.1 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$589.6 Million by the year 2027 trailing a CAGR of 21.6% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 19.6% and 18.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 15.4% CAGR.

Other Applications Segment to Record 25.3% CAGR

In the global Other Applications segment, USA, Canada, Japan, China and Europe will drive the 25.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$210.5 Million in the year 2020 will reach a projected size of US$1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$396.6 Million by the year 2027. We bring years of research experience to this 18th edition of our report. The 122-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others:
  • Adelan Ltd.
  • Atrex Energy Inc.
  • Bloom Energy Corporation
  • Ceramic Fuel Cells Limited
  • Ceres Power Limited
  • Convion Ltd.
  • Elcogen AS
  • FuelCell Energy, Inc.
  • Hexis AG
  • SOLIDpower S. p. A.
  • Sunfire GmbH
  • Ultra Electronics Holdings Plc
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Fuel Cells - A Rudimentary Overview
  • Recent Market Activity
  • Solid Oxide Fuel Cells - A Curtain Raiser
  • Current and Future Analysis
  • Collaborative Effort - Key to Successful Commercialization
  • Present Levels of Commercialization
  • Global Competitor Market Shares
  • Solid Oxide Fuel Cells (SOFCs) Competitor Market Share Scenario Worldwide (in %): 2020 & 2029
  • Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
  • Adelan Ltd. (UK)
  • Atrex Energy, Inc. (USA)
  • Bloom Energy Corporation (USA)
  • Ceramic Fuel Cells Limited (Australia)
  • Ceres Power Limited (UK)
  • Convion Ltd. (Finland)
  • Elcogen AS (Estonia)
  • FuelCell Energy, Inc. (USA)
  • Hexis AG (Switzerland)
  • SOLIDpower S.p.A. (Italy)
  • Sunfire GmbH (Germany)
  • Ultra Electronics Holdings Plc (UK)
3. MARKET TRENDS & DRIVERS
  • SOFCs Takes on Competition from Market Leader PEMFC Head-On
  • Growing Focus on Environmental Protection to Drive Adoption of SOFCs in Power & Transportation Sector
  • Growing Demand for Electricity Driving Demand for SOFCs in Power Sector
  • SOFCs Gather Momentum in Stationary Cogeneration/CHP Deployments
  • SOFCs: Ideal for Distributed Power Generation
  • Growing Focus on Renewable Energy to Add to Market Demand for SOFCs
  • Positive Outlook for Fuel Cell Integrated Residential CHPs
  • Efforts in Full Swing to Make SOFC a Mainstream Technology for APU in Automobiles
  • Factors Indicating Potential Opportunity for SOFCs in Heavy-Duty Trucks and Refrigerated Transport Vehicles
  • Opportunities in Military & Defense Sector
  • SOFCs Make Perfect Sense for Mobile Networks
  • The Role of the Government in Driving the Market’s Future
  • Favorable Government Policies Remain Critical to Success
  • Investments Pour In, Promising to Expand the Industry’s Scope
  • Planar SOFC Remains the Dominant SOFC Technology in the Market
  • SOFCs: A Technology of Interest to Developed Countries
  • Japan - A Unique Case of Environment Driven and Energy Driven Market
  • Developing Nations Set to Follow Developed Markets in Adoption of SOFCs
  • China on the Verge of a Fuel Cell Boom
  • Technological Developments Widen Scope of Applications for SOFCs
  • Technological Innovations Promise to Revolutionize SOFC Manufacturing
  • Nano Coatings Emerge as Means to Enhance Durability of SOFC
  • SOFC Demand Not Disruptive to Supplies of Rare Earth Elements
  • Conventional Power Companies Vie for the SOFC Pie
4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: Solid Oxide Fuel Cells (SOFCs) Global Market Estimates and Forecasts in US$ Thousand by Region/Country: 2020-2027
  • TABLE 2: Solid Oxide Fuel Cells (SOFCs) Global Retrospective Market Scenario in US$ Thousand by Region/Country: 2012-2019
  • TABLE 3: Solid Oxide Fuel Cells (SOFCs) Market Share Shift across Key Geographies Worldwide: 2012 VS 2020 VS 2027
  • TABLE 4: Remote Power & Auxiliary Power Units (APUs) (Application) Global Opportunity Assessment in US$ Thousand by Region/Country: 2020-2027
  • TABLE 5: Remote Power & Auxiliary Power Units (APUs) (Application) Historic Sales Analysis in US$ Thousand by Region/Country: 2012-2019
  • TABLE 6: Remote Power & Auxiliary Power Units (APUs) (Application) Percentage Share Breakdown of Global Sales by Region/Country: 2012 VS 2020 VS 2027
  • TABLE 7: Combined Heat & Power (CHP) (Application) Worldwide Sales in US$ Thousand by Region/Country: 2020-2027
  • TABLE 8: Combined Heat & Power (CHP) (Application) Historic Demand Patterns in US$ Thousand by Region/Country: 2012-2019
  • TABLE 9: Combined Heat & Power (CHP) (Application) Market Share Shift across Key Geographies: 2012 VS 2020 VS 2027
  • TABLE 10: Other Applications (Application) Global Market Estimates & Forecasts in US$ Thousand by Region/Country: 2020-2027
  • TABLE 11: Other Applications (Application) Retrospective Demand Analysis in US$ Thousand by Region/Country: 2012-2019
  • TABLE 12: Other Applications (Application) Market Share Breakdown by Region/Country: 2012 VS 2020 VS 2027
III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES
  • Market Facts & Figures
  • US Solid Oxide Fuel Cells (SOFCs) Market Share (in %) by Company: 2020 & 2025
  • Market Analytics
  • TABLE 13: United States Solid Oxide Fuel Cells (SOFCs) Latent Demand Forecasts in US$ Thousand by Application: 2020 to 2027
  • TABLE 14: Solid Oxide Fuel Cells (SOFCs) Historic Demand Patterns in the United States by Application in US$ Thousand for 2012-2019
  • TABLE 15: Solid Oxide Fuel Cells (SOFCs) Market Share Breakdown in the United States by Application: 2012 VS 2020 VS 2027
CANADA
  • TABLE 16: Canadian Solid Oxide Fuel Cells (SOFCs) Market Quantitative Demand Analysis in US$ Thousand by Application: 2020 to 2027
  • TABLE 17: Solid Oxide Fuel Cells (SOFCs) Market in Canada: Summarization of Historic Demand Patterns in US$ Thousand by Application for 2012-2019
  • TABLE 18: Canadian Solid Oxide Fuel Cells (SOFCs) Market Share Analysis by Application: 2012 VS 2020 VS 2027
JAPAN
  • TABLE 19: Japanese Demand Estimates and Forecasts for Solid Oxide Fuel Cells (SOFCs) in US$ Thousand by Application: 2020 to 2027
  • TABLE 20: Japanese Solid Oxide Fuel Cells (SOFCs) Market in US$ Thousand by Application: 2012-2019
  • TABLE 21: Solid Oxide Fuel Cells (SOFCs) Market Share Shift in Japan by Application: 2012 VS 2020 VS 2027
CHINA
  • TABLE 22: Chinese Demand for Solid Oxide Fuel Cells (SOFCs) in US$ Thousand by Application: 2020 to 2027
  • TABLE 23: Solid Oxide Fuel Cells (SOFCs) Market Review in China in US$ Thousand by Application: 2012-2019
  • TABLE 24: Chinese Solid Oxide Fuel Cells (SOFCs) Market Share Breakdown by Application: 2012 VS 2020 VS 2027
EUROPE
  • Market Facts & Figures
  • European Solid Oxide Fuel Cells (SOFCs) Market: Competitor Market Share Scenario (in %) for 2020 & 2025
  • Market Analytics
  • TABLE 25: European Solid Oxide Fuel Cells (SOFCs) Market Demand Scenario in US$ Thousand by Region/Country: 2020-2027
  • TABLE 26: Solid Oxide Fuel Cells (SOFCs) Market in Europe: A Historic Market Perspective in US$ Thousand by Region/Country for the Period 2012-2019
  • TABLE 27: European Solid Oxide Fuel Cells (SOFCs) Market Share Shift by Region/Country: 2012 VS 2020 VS 2027
  • TABLE 28: European Solid Oxide Fuel Cells (SOFCs) Addressable Market Opportunity in US$ Thousand by Application: 2020-2027
  • TABLE 29: Solid Oxide Fuel Cells (SOFCs) Market in Europe: Summarization of Historic Demand in US$ Thousand by Application for the Period 2012-2019
  • TABLE 30: European Solid Oxide Fuel Cells (SOFCs) Market Share Analysis by Application: 2012 VS 2020 VS 2027
FRANCE
  • TABLE 31: Solid Oxide Fuel Cells (SOFCs) Quantitative Demand Analysis in France in US$ Thousand by Application: 2020-2027
  • TABLE 32: French Solid Oxide Fuel Cells (SOFCs) Historic Market Review in US$ Thousand by Application: 2012-2019
  • TABLE 33: French Solid Oxide Fuel Cells (SOFCs) Market Share Analysis: A 17-Year Perspective by Application for 2012, 2020, and 2027
GERMANY
  • TABLE 34: Solid Oxide Fuel Cells (SOFCs) Market in Germany: Annual Sales Estimates and Forecasts in US$ Thousand by Application for the Period 2020-2027
  • TABLE 35: German Solid Oxide Fuel Cells (SOFCs) Market in Retrospect in US$ Thousand by Application: 2012-2019
  • TABLE 36: Solid Oxide Fuel Cells (SOFCs) Market Share Distribution in Germany by Application: 2012 VS 2020 VS 2027
ITALY
  • TABLE 37: Italian Demand for Solid Oxide Fuel Cells (SOFCs) in US$ Thousand by Application: 2020 to 2027 TABLE 38: Solid Oxide Fuel Cells (SOFCs) Market Review in Italy in US$ Thousand by Application: 2012-2019
  • TABLE 39: Italian Solid Oxide Fuel Cells (SOFCs) Market Share Breakdown by Application: 2012 VS 2020 VS 2027
UNITED KINGDOM
  • TABLE 40: United Kingdom Demand Estimates and Forecasts for Solid Oxide Fuel Cells (SOFCs) in US$ Thousand by Application: 2020 to 2027
  • TABLE 41: United Kingdom Solid Oxide Fuel Cells (SOFCs) Market in US$ Thousand by Application: 2012-2019
  • TABLE 42: Solid Oxide Fuel Cells (SOFCs) Market Share Shift in the United Kingdom by Application: 2012 VS 2020 VS 2027
REST OF EUROPE
  • TABLE 43: Rest of Europe Solid Oxide Fuel Cells (SOFCs) Addressable Market Opportunity in US$ Thousand by Application: 2020-2027
  • TABLE 44: Solid Oxide Fuel Cells (SOFCs) Market in Rest of Europe: Summarization of Historic Demand in US$ Thousand by Application for the Period 2012-2019
  • TABLE 45: Rest of Europe Solid Oxide Fuel Cells (SOFCs) Market Share Analysis by Application: 2012 VS 2020 VS 2027
ASIA-PACIFIC
  • TABLE 46: Solid Oxide Fuel Cells (SOFCs) Quantitative Demand Analysis in Asia-Pacific in US$ Thousand by Application: 2020-2027
  • TABLE 47: Asia-Pacific Solid Oxide Fuel Cells (SOFCs) Historic Market Review in US$ Thousand by Application: 2012-2019
  • TABLE 48: Asia-Pacific Solid Oxide Fuel Cells (SOFCs) Market Share Analysis: A 17-Year Perspective by Application for 2012, 2020, and 2027
REST OF WORLD
  • TABLE 49: Rest of World Solid Oxide Fuel Cells (SOFCs) Market Quantitative Demand Analysis in US$ Thousand by Application: 2020 to 2027
  • TABLE 50: Solid Oxide Fuel Cells (SOFCs) Market in Rest of World: Summarization of Historic Demand Patterns in US$ Thousand by Application for 2012-2019
  • TABLE 51: Rest of World Solid Oxide Fuel Cells (SOFCs) Market Share Analysis by Application: 2012 VS 2020 VS 2027
IV. COMPETITION
  • Total Companies Profiled: 35
Note: Product cover images may vary from those shown
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