Global Solid Oxide Fuel Cells (SOFCs) Strategic Business Report 2023: Growing Focus on Environmental Protection to Drive Adoption of SOFCs in Power & Transportation Sector

Dublin, April 10, 2023 (GLOBE NEWSWIRE) -- The "Solid Oxide Fuel Cells (SOFCs): Global Strategic Business Report" report has been added to's offering.

The global market for Solid Oxide Fuel Cells (SOFCs) estimated at US$748.9 Million in the year 2022, is projected to reach a revised size of US$9.3 Billion by 2030, growing at a CAGR of 37.1% over the analysis period 2022-2030.

Stationary, one of the segments analyzed in the report, is projected to record a 35.5% CAGR and reach US$7 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Transportation segment is readjusted to a revised 40.4% CAGR for the next 8-year period.

The U.S. Market is Estimated at $219.1 Million, While China is Forecast to Grow at 34.8% CAGR

The Solid Oxide Fuel Cells (SOFCs) market in the U.S. is estimated at US$219.1 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.5 Billion by the year 2030 trailing a CAGR of 34.8% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 33.1% and 31.8% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 24.5% CAGR.

Select Competitors (Total 33 Featured) -

  • 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

What`s New for 2023?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year

Key Attributes:

Report AttributeDetails
No. of Pages269
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$748.9 Million
Forecasted Market Value (USD) by 2030$9300 Million
Compound Annual Growth Rate37.0%
Regions CoveredGlobal

Key Topics Covered:




  • Influencer Market Insights
  • World Market Trajectories
  • 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
  • Solid Oxide Fuel Cells (SOFCs) - Global Key Competitors Percentage Market Share in 2022 (E)
  • Impact of Covid-19 and a Looming Global Recession
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)



  • 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




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Global Market for Solid Oxide Fuel Cells (SOFCs)

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