The latest study collated and published by Nova one advisor analyzes the historical and present-day scenario of the global Solid Oxide Fuel Cell market to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, future scopes, cost analysis and key trends during the forecast timeframe 2022 to 2030.

According to nova one advisor, the global Solid Oxide Fuel Cell market size is projected to grow from USD 1.9 billion in 2021 to USD 14.18 billion by 2030, at CAGR of 27.21% during forecast period

Key Takeaways:

• By Application, the U.S. Solid Oxide Fuel Cell market was valued at USD 180.9 million in 2021 and expected to witness growth at a CAGR of 36.18% from 2022 to 2030.


• In terms of revenue, the stationary segment accounted for a prominent market share of 81.35%  during 2021 and is further expected to witness major growth during  the forecast period


• As of 2021, the Asia Pacific accounted for 46.78% revenue share in the overall SOFC market


• In Europe, Germany dominated the market by the revenue share during  2021


• Government funding and aggressive mergers & acquisitions between companies for alternative energy technologies contribute to heavy investments in Europe. Transportation is predicted to be the viable segment for the utilization of solid oxide fuel cells during the coming years

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Growing expenditure on infrastructure and industry development is expected to have a positive impact on the global market in the forecast period.

Installers and system providers usually hold stock of significant equipment in the inventory. However, manufacturers face bottlenecks and shortages due to the limited production in countries, severely affected by the COVID-19. Further, upcoming Solid oxide fuel cells (SOFC) based large-scale projects are expected to witness delays in commissioning due to the disruptions in supply chain and halting of on-site construction activities.

Rising awareness about alternative sources of energy is one of the major factors encouraging market growth. Increasing carbon emission levels is a global issue, and government authorities worldwide are supporting technological advancements to tackle the issue by providing research funding and drafting supportive policies and plans.

The global SOFC market is highly competitive owing to the ongoing technological advancements by the existing vendors and new entrants. Market players are concentrating on strengthening their relations with system installers due to their strong local presence and close ties with the clients, which in turn is likely to help enhance geographical presence.

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Solid Oxide Fuel Cell Market Dynamics 

• The crucial market drivers

 The governmental policies and incentives offered for fuel cell production is the driving factors for market growth. The states such as Delaware, California and Connecticut are offering incentives for SOFC installations. Some of the states in the US allocate more than 500 million budgets for SOFC techology installation programs.

The plenty of tax rebates, development workshops and monetary support from the government are the crucial market drivers. Furthermore, there are plenty of national developments and reforms introduced for the SOFC market. Many successful fuel companies joined hands to install the SOFC power plant to increase production. There have been tons of promotion programs for the SOFC market. These efforts by top-agencies are paving its way for more growth of the solid-oxide fuel market in the forecast year 2023.

The global demand for clean energy has a positive influence on the SOFC market. The awareness for clean SOFC energy is another factor that drives more demand for the market. The development for producing natural gas is rising exponentially. These factors are completely changing the solid-oxide fuel cell Market Outlook. It is integrated into existing fuel systems to provide continuous energy. SOFC power is useful for a wide range of commercial and industrial purposes. It is compatible with any fuel combination. Also, no harmful emissions are released from solid oxide fuels. Therefore, both the government support and the global need for clean energy are the top driving factors of the SOFC market.

• The market growth opportunities 

The demand from the end-users provides massive growth opportunities for SOFC markets. Data centres are the major end-users who consume immense power. They are the fastest-growing sectors to put SOFC energy into use. Also, the data centres require the undisrupted flow of power for smooth working and prevention of data loss. SOFC is a power source that meets all the requirements of data centres. Furthermore, due to high power consumption, the datacenters require a cost-efficient energy source.

There is no better power source than the solid oxide fuel cell to match their requirements. The adoption of SOFC by data centres power provides massive scope for growth in the market. Some of the data centres in the US are already utilizing SOFC that ultimately rises its market demand. The other popular data centres such as Google, IBM and Equinix are adopting SOFC in the future years. It enables increase in the solid oxide fuel cell Market Revenue in the forecast year 2023.

Another growth aspect of the SOFC market is the military sector. The military-sector requires efficient energy that is essential in noiseless military application. This requirement in the military-sector increases the growth opportunities for the SOFC market in the forecast period.

• The market restraints 

High capital costs of the SOFC are the major restraint in the market. SOFC is a complex component that is an integration of a variety of chemical elements. The combination of components such as electro-catalytic methane, natural gas and hydrogen gas are essential to generate SOFC electricity.

The crucial advantage of using SOFC is high-temperature resistance ad electrolyte features. However, to achieve these features, the stabilized-zirconium electrolyte is used. Zirconium is an expensive element. It contains titanium properties and comes with high melting points. The use of zirconium in SOFC increases the manufacturing and installation cost. It is the major restraint in the solid-oxide fuel cell market.

• The market challenges 

The startup duration of the SOFC operation is longer when compared to other fuel industries. As it is a high-temperature component, more time is required to reach critical functioning temperature. Therefore, higher startup time is essential to make the power functional and to reach full capacity.

Moreover, the SOFC releases extreme heat into the surrounding at the operation time. To control the heat, excessive-thermal shielding is required. The thermal shielding is dense that ultimately increases the weight of the solid oxide fuel. Due to these reasons, the SOFC is less-preferred in portable and emergency power applications. These technical difficulties are crucial challenges in the entire SOFC market.

Type Insights

In 2021, the "Linear" sector had the biggest market share of almost 60.5%, and it is projected that it would continue to rule throughout the allotted time frame. It is because building it was a lot simpler procedure. The ceramics solar cell module in the Flat kind of SOFCs were arranged one on top of another, resembling a baguette with just an electrolyte layered in between electrodes. The SOF cells market has been dominated by the flat category. Due to the square shape and very simple building procedure, the development is obvious. The ceramics fuel cell module is normally placed one of these on top of the next in a sandwich-style arrangement with the electrolytes placed between both the poles in flat solid oxide cells.

Application Insights

The stationary application segment led the market and accounted for 81.35% revenue share in 2021. A stationary solid oxide fuel cell system is one of the cleanest and most efficient heat and electricity generation technologies. The performance of these systems is focused on three high-level parameters, including net electrical efficiency, overall efficiency in the case of cogeneration, and durability.

European countries such as France and the UK are investing heavily in the R&D of solid oxide fuel cells for power generation and transportation applications. The factors above are expected to boost the growth of the stationary application segment in the SOFC market throughout the forecast period.

Collaboration among SOFC vendors and transportation sector vendors is expected to develop SOFC-based systems for transportation applications during the forecast period. For instance, in December 2020, AVL and Ceres signed a strategic collaboration for fuel cell development in order to accelerate product development of SOFC technology across stationary, transportation, and various other applications. With this collaboration, both companies will use a combination of their intellectual property portfolios of solid oxide fuel cell systems to offer new solutions to their clients.

Regional Insights

The Asia Pacific dominated the global market in 2021 and accounted for the largest revenue share of over 46.78%. The Asia Pacific is anticipated to account for a major share of the global capacity demand, in the coming years, with Japan being the epicenter of this demand. Solid oxide fuel cells majorly find wide-scale applications in the stationary segments in Asia Pacific. The market is expected to witness the highest growth rate in the forecast period.

Countries such as India, Singapore, and Malaysia are still in the process of framing regulations to support the growth of alternative energy markets. The demand for solid oxide fuel cells in India, Thailand, and Singapore is driven by research institutes and government bodies, involved in testing the operating hours of solid oxide fuel cells. These factors are expected to boost the growth of the SOFC market in the region during the forecast period

Solid oxide fuel cells majorly find wide-scale applications in the stationary segment in North America. The market is expected to witness the highest growth rate during the forecast period. The solid oxide fuel cell market in the U.S. has developed at a tremendous rate and is growing significantly, as compared to the rest of the world on account of strong government support and strategic market focus.

Germany is among the leading markets for SOFCs applications in the European region. This can be attributed to structured energy policies and concrete targets introduced by the government of Germany. The future development of technologies, related to solid oxide fuel cells, has also been defined in the energy policies.

Some of the prominent players in the Solid Oxide Fuel Cell Market include:

• Adaptive Energy LLC


• Adelan Ltd.


• Aisin Corporation


• Atrex Energy Inc.


• AVL (Austria)


• Bloom Energy Corporation


• Bosch (Germany)


• Catator AB (Sweden)


• Ceramic Fuel Cells Limited


• Ceres Power Holdings plc


• Convion ltd. (Finland)


• Cummins Inc.


• Elcogen AS (Estonia)


• FuelCell Energy, Inc. (U.S.)


• Fuji Electric Co. Ltd.


• General Electric


• h2e Power (India)


• Hexis AG


• Hitachi Zosen Corporation (Japan)


• Kyocera Corporation (Japan)


• Mitsubishi Hitachi Power Systems, Ltd.


• Miura (Japan)


• Nexceris, LLC (U.S.)


• NGK SPARK PLUG CO., LTD.


• Ningbo SOFCMAN Energy


• POSCO Energy


• Robert Bosch GmbH


• Rolls-Royce Fuel Cell Systems Ltd.


• Solid Power (Italy)


• Sunfire GmbH (Germany)


• Suzhou Huatsing Jingkun New Energy Technology Co., Ltd. (China)


• Ultra-Electronics Holdings Plc


• Upstart power (US)


• Watt fuel cell corporation (US)


• ZTEK Corporation (US)

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Solid Oxide Fuel Cell market

By Type

• Linear


• Tubular

By Application

• Portable


• Stationary


• Transport

By End User

• Commercial & Industrial


• Data Centers


• Military & Defense


• Residentials

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