Solid Oxide Electrolysis Cell (SOEC) Market

Global Solid Oxide Electrolysis Cell (SOEC) Market Size, Trends & Analysis - Forecasts to 2028 By Product Type (Planar SOECs and Tubular SOECs), By Application (Hydrogen Production, Industrial Processes, and Others), By End User (Power Plants, Refineries, Chemical Industry, and Others), and By Region (North America, Asia Pacific, Central and South America, Europe, and Middle East and Africa), Competitive Landscape, Company Market Share Analysis, and Competitor Analysis

Category Energy & Power

Format

This report was recently updated on April 23 2024 with the latest and most recent market numbers

Global Solid Oxide Electrolysis Cell (SOEC) Market Size

The global solid oxide electrolysis cell (SOEC) market is projected to grow at a CAGR of 25.5% from 2023 to 2028.

The chemical energy of the fuel and oxidant are directly converted into electrical energy by electrochemical reactions in solid oxide fuel cells (SOFCs), which are extremely effective and environmentally friendly devices. Unlike traditional energy generation methods that rely on combustion, SOFCs offer a cleaner and more effective alternative.

SOEC is a type of electrochemical device that can efficiently convert electrical energy into chemical energy by electrolyzing water or carbon dioxide.

The increasing demand for clean energy and growing recognition of hydrogen as a clean and versatile energy carrier are driving demand for SOECs that can produce hydrogen through electrolysis. Energy storage and grid balancing solutions are required due to of integration of renewable energy sources including solar and wind in power grids. SOECs can efficiently convert excess electricity from renewables into hydrogen, which can be stored and used when energy demand exceeds supply. This integration is driving the adoption of SOECs for renewable energy integration applications.

Additionally, several governments and regulatory bodies are implementing supportive policies and providing incentives to market players, to promote the adoption of clean energy technologies. These include subsidies, grants, tax credits, and favourable regulations for the deployment of SOECs. Such support fosters the market growth and encourages investment in the development and implementation of SOEC systems. Moreover, SOECs find its applications in various industries including hydrogen production, chemical processes, and energy storage. The industrial sector's increasing need for sustainable and efficient energy solutions is driving the adoption of SOECs, thereby fuelling the market growth.

global solid oxide electrolysis cell (soec) market

Global Solid Oxide Electrolysis Cell (SOEC) Market: By Product Type

Planar SOECs segment is estimated to hold the largest share in the market over the forecast period. This is primarily because they are readily available commercially, scalable, simple to manufacture, have flexible designs, and have competitive performance and efficiency. Additionally, the manufacturing process for planar cells is simple compared to tubular SOECs, potentially resulting in lower production costs. These factors contribute to the wider adoption of planar SOECs, driven by their economic viability and cost-effectiveness.

Global Solid Oxide Electrolysis Cell (SOEC) Market: By Application

Hydrogen production segment is projected to account for largest share in the market. Solid oxide electrolysis cells (SOECs) are primarily used for the production of hydrogen through the electrolysis of water. Hydrogen is a versatile and clean energy carrier that has applications in various sectors including transportation, energy storage, and industrial processes. Hydrogen production using SOECs is seen as a key technology for enabling the decarbonization of sectors such as transportation and industry. The hydrogen production segment currently dominates the market due to increasing demand for hydrogen as a clean fuel and energy storage medium.

Global Solid Oxide Electrolysis Cell (SOEC) Market: By End User

The power plant segment is anticipated to be the fastest-growing segment in the market from 2023-2028. Power plants utilizing renewable energy sources can benefit from SOECs by integrating them into their operations for energy storage and grid balancing. SOEC convert excess electricity into hydrogen, which can be stored and used later when demand exceeds supply.

The chemical industry relies on hydrogen as a feedstock and for various chemical reactions. SOECs offer a clean and efficient way to produce hydrogen on-site, contributing to the sustainability goals of chemical manufacturers and reducing their carbon footprint. Moreover, refineries in the oil and gas industry require hydrogen for various processes including hydrocracking and hydrotreating. SOECs provides an efficient and sustainable method for on-site hydrogen production, reducing reliance on fossil fuel-based hydrogen sources, and enabling a greener refining process.

asia pacific solid oxide electrolysis cell (soec) market

Global Solid Oxide Electrolysis Cell (SOEC) Market: By Region

Asia Pacific is expected to be the largest region in the global market. The dominance is attributed to the rising demand for energy storage devices in emerging economies including China, India, Indonesia, and others. These nations are experiencing rapid economic growth and increasing energy consumption, driving the need for efficient and sustainable energy solutions. The demand for SOFC and SOEC technologies aligns with the region's focus on clean energy development and the transition towards low-carbon economies. Asia Pacific offers significant market opportunities due to its large consumer base, supportive government policies, and investments in renewable energy and clean technologies.

North America is anticipated to witness rapid growth during the forecast period. This is attributed to advancements in SOEC technology, increasing renewable energy integration, a shifting energy landscape. Government policies and incentives are promoting clean energy adoption, while technological advancements enhance the efficiency and cost-effectiveness of fuel cells and electrolysis technologies. The region's focus on renewable energy integration and sustainability aligns with the capabilities of SOEC systems, driving their adoption in various industries.

Global Solid Oxide Electrolysis Cell (SOEC) Market Share and Competitor Analysis

Sunfire GmbH, Siemens Energy, ITM Power, Ceres Power, Elcogen, Kyocera Corporation, NextCell, FuelCell Energy, Bloom Energy, and Hexis AG, among others are some of the key players operating in the global solid oxide electrolysis cell (SOEC) market.

Please note: This is not an exhaustive list of companies profiled in the report.

1 STRATEGIC INSIGHTS ON NEW REVENUE POCKETS

1.1 Strategic Opportunity & Attractiveness Analysis

1.1.1 Hot Revenue Pockets

1.1.2 Market Attractiveness Score

1.1.3 Revenue Impacting Opportunity

1.1.4 High Growing Region/Country

1.1.5 Competitor Analysis

1.1.6 Consumer Analysis

1.2 Global Market Estimates' View

1.3 Strategic Insights across Business Functions

1.3.1 For Chief Executive Officers

1.3.2 For Chief Marketing Officers

1.3.3 For Chief Strategy Officers

1.4 Evaluate the Potential of your Existing Business Lines vs. New Lines to Enter Into

2 TECHNOLOGICAL TRENDS

2.1 Technological Adoption Rate

2.2 Current Trend Impact Analysis

2.3 Future Trend Impact Analysis

2.4 Data Metrics

3 GLOBAL SOLID OXIDE ELECTROLYSIS CELL (SOEC) MARKET OUTLOOK

3.1 Market Pyramid Analysis

3.1.1 Introduction

3.1.2 Adjacent Market Opportunities

3.1.3 Ancillary Market Opportunities

3.2 Demand Side Analysis

3.2.1 Market Drivers: Impact Analysis

3.2.2 Market Restraints: Impact Analysis

3.2.3 Market Opportunities: Impact Analysis

3.2.4 Market Challenges: Impact Analysis

3.3 Supply Side Analysis

3.3.1 Porter’s Five Forces Analysis

3.3.1.1 Threat of New Entrants

3.3.1.2 Threat of New Substitutes

3.3.1.3 Bargaining Power of Suppliers

3.3.1.4 Bargaining Power of Buyers

3.3.1.5 Intensity of Competitive Rivalry

3.3.2 SWOT Analysis; By Factor (Political & Legal, Economic, and Technological)

3.3.2.1 Political Landscape

3.3.2.2 Economic Landscape

3.3.2.3 Social Landscape

3.3.2.4 Technology Landscape

3.3.3 Value Chain Analysis

3.3.4 Trend Analysis

3.3.5 Gap Analysis

3.3.6 Cost Analysis

4 GLOBAL SOLID OXIDE ELECTROLYSIS CELL (SOEC) MARKET, BY PRODUCT TYPE

4.1 Introduction

4.2 Solid Oxide Electrolysis Cell (SOEC) Market: Product Type Scope Key Takeaways

4.3 Revenue Growth Analysis, 2022 & 2028

4.4 Planar SOECs

4.4.1 Planar SOECs Market Estimates and Forecast, 2020-2028 (USD Million)

4.5 Tubular SOECs

4.5.1 Tubular SOECs Market Estimates and Forecast, 2020-2028 (USD Million)

5 GLOBAL SOLID OXIDE ELECTROLYSIS CELL (SOEC) MARKET, BY APPLICATIONS

5.1 Introduction

5.2 Solid Oxide Electrolysis Cell (SOEC) Market: Application Scope Key Takeaways

5.3 Revenue Growth Analysis, 2022 & 2028

5.4 Hydrogen Production

5.4.1 Hydrogen Production Market Estimates and Forecast, 2020-2028 (USD Million)

5.5 Industrial Processes

5.5.1 Industrial Processes Market Estimates and Forecast, 2020-2028 (USD Million)

5.6 Others

5.6.1 Others Market Estimates and Forecast, 2020-2028 (USD Million)

6 GLOBAL SOLID OXIDE ELECTROLYSIS CELL (SOEC) MARKET, BY END USER

6.1 Introduction

6.2 Solid Oxide Electrolysis Cell (SOEC) Market: End user Scope Key Takeaways

6.3 Revenue Growth Analysis, 2022 & 2028

6.4 Power Plants

6.4.1 Power Plants Market Estimates and Forecast, 2020-2028 (USD Million)

6.5 Refineries

6.5.1 Refineries Market Estimates and Forecast, 2020-2028 (USD Million)

6.6 Chemical Industry

6.6.1 Chemical Industry Market Estimates and Forecast, 2020-2028 (USD Million)

6.7 Others

6.7.1 Others Market Estimates and Forecast, 2020-2028 (USD Million)

7 GLOBAL SOLID OXIDE ELECTROLYSIS CELL (SOEC) MARKET, BY REGION

7.1 Introduction

7.2 North America Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.2.1 By Product Type

7.2.2 By Applications

7.2.3 By END USER

7.2.4 By Country

7.2.4.1 U.S. Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.2.4.1.1 By Product Type

7.2.4.1.2 By Applications

7.2.4.1.3 By END USER

7.2.4.2 Canada Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.2.4.2.1 By Product Type

7.2.4.2.2 By Applications

7.2.4.2.3 By END USER

7.2.4.3 Mexico Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.2.4.3.1 By Product Type

7.2.4.3.2 By Applications

7.2.4.3.3 By END USER

7.3 Europe Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.3.1 By Product Type

7.3.2 By Applications

7.3.3 By END USER

7.3.4 By Country

7.3.4.1 Germany Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.3.4.1.1 By Product Type

7.3.4.1.2 By Applications

7.3.4.1.3 By END USER

7.3.4.2 U.K. Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.3.4.2.1 By Product Type

7.3.4.2.2 By Applications

7.3.4.2.3 By END USER

7.3.4.3 France Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.3.4.3.1 By Product Type

7.3.4.3.2 By Applications

7.3.4.3.3 By END USER

7.3.4.4 Italy Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.3.4.4.1 By Product Type

7.3.4.4.2 By Applications

7.2.4.4.3 By END USER

7.3.4.5 Spain Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.3.4.5.1 By Product Type

7.3.4.5.2 By Applications

7.2.4.5.3 By END USER

7.3.4.6 Netherlands Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.3.4.6.1 By Product Type

7.3.4.6.2 By Applications

7.2.4.6.3 By END USER

7.3.4.7 Rest of Europe Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.3.4.7.1 By Product Type

7.3.4.7.2 By Applications

7.2.4.7.3 By END USER

7.4 Asia Pacific Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.1 By Product Type

7.4.2 By Applications

7.4.3 By END USER

7.4.4 By Country

7.4.4.1 China Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.1.1 By Product Type

7.4.4.1.2 By Applications

7.4.4.1.3 By END USER

7.4.4.2 Japan Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.2.1 By Product Type

7.4.4.2.2 By Applications

7.4.4.2.3 By END USER

7.4.4.3 India Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.3.1 By Product Type

7.4.4.3.2 By Applications

7.4.4.3.3 By END USER

7.4.4.4 South Korea Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.4.1 By Product Type

7.4.4.4.2 By Applications

7.4.4.4.3 By END USER

7.4.4.5 Singapore Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.5.1 By Product Type

7.4.4.5.2 By Applications

7.4.4.5.3 By END USER

7.4.4.6 Malaysia Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.6.1 By Product Type

7.4.4.6.2 By Applications

7.4.4.6.3 By END USER

7.4.4.7 Thailand Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.7.1 By Product Type

7.4.4.7.2 By Applications

7.4.4.7.3 By END USER

7.4.4.8 Indonesia Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.8.1 By Product Type

7.4.4.8.2 By Applications

7.4.4.8.3 By END USER

7.4.4.9 Vietnam Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.9.1 By Product Type

7.4.4.9.2 By Applications

7.4.4.9.3 By END USER

7.4.4.10 Taiwan Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.10.1 By Product Type

7.4.4.10.2 By Applications

7.4.4.10.3 By END USER

7.4.4.11 Rest of Asia Pacific Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.4.4.11.1 By Product Type

7.4.4.11.2 By Applications

7.4.4.11.3 By END USER

7.5 Middle East and Africa Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.5.1 By Product Type

7.5.2 By Applications

7.5.3 By END USER

7.5.4 By Country

7.5.4.1 Saudi Arabia Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.5.4.1.1 By Product Type

7.5.4.1.2 By Applications

7.5.4.1.3 By END USER

7.5.4.2 U.A.E. Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.5.4.2.1 By Product Type

7.5.4.2.2 By Applications

7.5.4.2.3 By END USER

7.5.4.3 Israel Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.5.4.3.1 By Product Type

7.5.4.3.2 By Applications

7.5.4.3.3 By END USER

7.5.4.4 South Africa Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.5.4.4.1 By Product Type

7.5.4.4.2 By Applications

7.5.4.4.3 By END USER

7.5.4.5 Rest of Middle East and Africa Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.5.4.5.1 By Product Type

7.5.4.5.2 By Applications

7.5.4.5.2 By END USER

7.6 Central & South America Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.6.1 By Product Type

7.6.2 By Applications

7.6.3 By END USER

7.6.4 By Country

7.6.4.1 Brazil Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.6.4.1.1 By Product Type

7.6.4.1.2 By Applications

7.6.4.1.3 By END USER

7.6.4.2 Argentina Eaporative Air Cooler Market Estimates and Forecast, 2020-2028 (USD Million)

7.6.4.2.1 By Product Type

7.6.4.2.2 By Applications

7.6.4.2.3 By END USER

7.6.4.3 Chile Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.6.4.3.1 By Product Type

7.6.4.3.2 By Applications

7.6.4.3.3 By END USER

7.6.4.4 Rest of Central & South America Solid Oxide Electrolysis Cell (SOEC) Market Estimates and Forecast, 2020-2028 (USD Million)

7.6.4.4.1 By Product Type

7.6.4.4.2 By Applications

7.6.4.4.3 By END USER

8 COMPETITIVE LANDCAPE

8.1 Company Market Share Analysis

8.2 Four Quadrant Positioning Matrix

8.2.1 Market Leaders

8.2.2 Market Visionaries

8.2.3 Market Challengers

8.2.4 Niche Market Players

8.3.4 Rest of the World

8.4 Company Profiles

8.4.1 Sunfire GmbH

8.4.1.1 Business Description & Financial Analysis

8.4.1.2 SWOT Analysis

8.4.1.3 Products & Services Offered

8.4.1.4 Strategic Alliances between Business Partners

8.4.2 Siemens Energy

8.4.2.1 Business Description & Financial Analysis

8.4.2.2 SWOT Analysis

8.4.2.3 Products & Services Offered

8.4.2.4 Strategic Alliances between Business Partners

8.4.3 ITM Power

8.4.3.1 Business Description & Financial Analysis

8.4.3.2 SWOT Analysis

8.4.3.3 Products & Services Offered

8.4.3.4 Strategic Alliances between Business Partners

8.4.4 Ceres Power

8.4.4.1 Business Description & Financial Analysis

8.4.4.2 SWOT Analysis

8.4.4.3 Products & Services Offered

8.4.4.4 Strategic Alliances between Business Partners

8.4.5 Elcogen

8.4.5.1 Business Description & Financial Analysis

8.4.5.2 SWOT Analysis

8.4.5.3 Products & Services Offered

8.4.5.4 Strategic Alliances between Business Partners

8.4.6 KYOCERA CORPORATION

8.4.6.1 Business Description & Financial Analysis

8.4.6.2 SWOT Analysis

8.4.6.3 Products & Services Offered

8.4.6.4 Strategic Alliances between Business Partners

8.4.7 NextCell

8.4.7.1 Business Description & Financial Analysis

8.4.7.2 SWOT Analysis

8.4.7.3 Products & Services Offered

8.4.8.4 Strategic Alliances between Business Partners

8.4.8 FuelCell Energy

8.4.8.1 Business Description & Financial Analysis

8.4.8.2 SWOT Analysis

8.4.8.3 Products & Services Offered

8.4.8.4 Strategic Alliances between Business Partners

8.4.9 Hexis AG

8.4.9.1 Business Description & Financial Analysis

8.4.9.2 SWOT Analysis

8.4.9.3 Products & Services Offered

8.4.9.4 Strategic Alliances between Business Partners

8.4.10 Bloom Energy

8.4.10.1 Business Description & Financial Analysis

8.4.10.2 SWOT Analysis

8.4.10.3 Products & Services Offered

8.4.10.4 Strategic Alliances between Business Partners

8.4.11 Other Companies

8.4.11.1 Business Description & Financial Analysis

8.4.11.2 SWOT Analysis

8.4.11.3 Products & Services Offered

8.4.11.4 Strategic Alliances between Business Partners

9 RESEARCH METHODOLOGY

9.1 Market Introduction

9.1.1 Market Definition

9.1.2 Market Scope & Segmentation

9.2 Information Procurement

9.2.1 Secondary Research

9.2.1.1 Purchased Databases

9.2.1.2 GMEs Internal Data Repository

9.2.1.3 Secondary Resources & Third Party Perspectives

9.2.1.4 Company Information Sources

9.2.2 Primary Research

9.2.2.1 Various Types of Respondents for Primary Interviews

9.2.2.2 Number of Interviews Conducted throughout the Research Process

9.2.2.3 Primary Stakeholders

9.2.2.4 Discussion Guide for Primary Participants

9.2.3 Expert Panels

9.2.3.1 Expert Panels Across 30+ Industry

9.2.4 Paid Local Experts

9.2.4.1 Paid Local Experts Across 30+ Industry Across each Region

9.3 Market Estimation

9.3.1 Top-Down Approach

9.3.1.1 Macro-Economic Indicators Considered

9.3.1.2 Micro-Economic Indicators Considered

9.3.2 Bottom Up Approach

9.3.2.1 Company Share Analysis Approach

9.3.2.2 Estimation of Potential Product Sales

9.4 Data Triangulation

9.4.1 Data Collection

9.4.2 Time Series, Cross Sectional & Panel Data Analysis

9.4.3 Cluster Analysis

9.5 Analysis and Output

9.5.1 Inhouse AI Based Real Time Analytics Tool

9.5.2 Output From Desk & Primary Research

9.6 Research Assumptions & Limitations

9.7.1 Research Assumptions

9.7.2 Research Limitations

LIST OF TABLES

1 Global Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Mllion)

2 Planar SOECs Market, By Region, 2020-2028 (USD Mllion)

3 Tubular SOECs Market, By Region, 2020-2028 (USD Mllion)

4 Global Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Mllion)

5 Hydrogen Production Market, By Region, 2020-2028 (USD Mllion)

6 Industrial Processes Market, By Region, 2020-2028 (USD Mllion)

7 Others Market, By Region, 2020-2028 (USD Mllion)

8 Global Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Mllion)

9 Power Plants Market, By Region, 2020-2028 (USD Mllion)

10 Refineries Market, By Region, 2020-2028 (USD Mllion)

11 Chemical Industry Market, By Region, 2020-2028 (USD Mllion)

12 Others Market, By Region, 2020-2028 (USD Mllion)

13 Regional Analysis, 2020-2028 (USD Mllion)

14 North America Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Million)

15 North America Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Million)

16 North America Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Million)

17 North America Solid Oxide Electrolysis Cell (SOEC) Market, By Country, 2020-2028 (USD Million)

18 U.S Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Million)

19 U.S Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Million)

20 U.S Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Million)

21 Canada Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Million)

22 Canada Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Million)

23 Canada Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Million)

24 Mexico Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Million)

25 Mexico Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Million)

26 Mexico Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Million)

27 Europe Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Million)

28 Europe Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Million)

29 Europe Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Million)

30 Germany Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Million)

31 Germany Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Million)

32 Germany Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Million)

33 U.K. Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Million)

34 U.K. Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Million)

35 U.K. Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Million)

36 France Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Million)

37 France Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Million)

38 France Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Million)

39 Italy Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Million)

40 Italy Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Million)

41 Italy Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Million)

42 Spain Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Million)

43 Spain Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Million)

44 Spain Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Million)

45 Rest Of Europe Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Million)

46 Rest Of Europe Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Million)

47 Rest of Europe Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Million)

48 Asia Pacific Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Million)

49 Asia Pacific Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Million)

50 Asia Pacific Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Million)

51 Asia Pacific Solid Oxide Electrolysis Cell (SOEC) Market, By Country, 2020-2028 (USD Million)

52 China Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Million)

53 China Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Million)

54 China Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Million)

55 India Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Million)

56 India Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Million)

57 India Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Million)

58 Japan Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Million)

59 Japan Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Million)

60 Japan Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Million)

61 South Korea Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Million)

62 South Korea Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Million)

63 South Korea Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Million)

64 Middle East and Africa Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Million)

65 Middle East and Africa Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Million)

66 Middle East and Africa Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Million)

67 Middle East and Africa Solid Oxide Electrolysis Cell (SOEC) Market, By Country, 2020-2028 (USD Million)

68 Saudi Arabia Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Million)

69 Saudi Arabia Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Million)

70 Saudi Arabia Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Million)

71 UAE Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Million)

72 UAE Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Million)

73 UAE Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Million)

74 Central & South America Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Million)

75 Central & South America Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Million)

76 Central & South America Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Million)

77 Central & South America Solid Oxide Electrolysis Cell (SOEC) Market, By Country, 2020-2028 (USD Million)

78 Brazil Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type, 2020-2028 (USD Million)

79 Brazil Solid Oxide Electrolysis Cell (SOEC) Market, By Applications, 2020-2028 (USD Million)

80 Brazil Solid Oxide Electrolysis Cell (SOEC) Market, By END USER, 2020-2028 (USD Million)

81 Sunfire GmbH: Products & Services Offering

82 Siemens Energy: Products & Services Offering

83 ITM Power: Products & Services Offering

84 Ceres Power: Products & Services Offering

85 Elcogen: Products & Services Offering

86 KYOCERA CORPORATION: Products & Services Offering

87 NextCell : Products & Services Offering

88 FuelCell Energy: Products & Services Offering

89 Hexis AG, Inc: Products & Services Offering

90 Bloom Energy: Products & Services Offering

91 Other Companies: Products & Services Offering

LIST OF FIGURES

1 Global Solid Oxide Electrolysis Cell (SOEC) Market Overview

2 Global Solid Oxide Electrolysis Cell (SOEC) Market Value From 2020-2028 (USD Mllion)

3 Global Solid Oxide Electrolysis Cell (SOEC) Market Share, By Product Type (2022)

4 Global Solid Oxide Electrolysis Cell (SOEC) Market Share, By Applications (2022)

5 Global Solid Oxide Electrolysis Cell (SOEC) Market Share, By END USER (2022)

6 Global Solid Oxide Electrolysis Cell (SOEC) Market, By Region (Asia Pacific Market)

7 Technological Trends In Global Solid Oxide Electrolysis Cell (SOEC) Market

8 Four Quadrant Competitor Positioning Matrix

9 Impact Of Macro & Micro Indicators On The Market

10 Impact Of Key Drivers On The Global Solid Oxide Electrolysis Cell (SOEC) Market

11 Impact Of Challenges On The Global Solid Oxide Electrolysis Cell (SOEC) Market

12 Porter’s Five Forces Analysis

13 Global Solid Oxide Electrolysis Cell (SOEC) Market: By Product Type Scope Key Takeaways

14 Global Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type Segment: Revenue Growth Analysis

15 Planar SOECs Market, By Region, 2020-2028 (USD Mllion)

16 Tubular SOECs Market, By Region, 2020-2028 (USD Mllion)

17 Global Solid Oxide Electrolysis Cell (SOEC) Market: By Applications Scope Key Takeaways

18 Global Solid Oxide Electrolysis Cell (SOEC) Market, By Applications Segment: Revenue Growth Analysis

19 Hydrogen Production Market, By Region, 2020-2028 (USD Mllion)

20 Industrial Processes Market, By Region, 2020-2028 (USD Mllion)

21 Others Market, By Region, 2020-2028 (USD Mllion)

22 Global Solid Oxide Electrolysis Cell (SOEC) Market: By END USER Scope Key Takeaways

23 Global Solid Oxide Electrolysis Cell (SOEC) Market, By END USER Segment: Revenue Growth Analysis

24 Power Plants Market, By Region, 2020-2028 (USD Mllion)

25 Refineries Market, By Region, 2020-2028 (USD Mllion)

26 Chemical Industry Market, By Region, 2020-2028 (USD Mllion)

27 Others Market, By Region, 2020-2028 (USD Mllion)

28 Regional Segment: Revenue Growth Analysis

29 Global Solid Oxide Electrolysis Cell (SOEC) Market: Regional Analysis

30 North America Solid Oxide Electrolysis Cell (SOEC) Market Overview

31 North America Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type

32 North America Solid Oxide Electrolysis Cell (SOEC) Market, By Applications

33 North America Solid Oxide Electrolysis Cell (SOEC) Market, By END USER

34 North America Solid Oxide Electrolysis Cell (SOEC) Market, By Country

35 U.S. Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type

36 U.S. Solid Oxide Electrolysis Cell (SOEC) Market, By Applications

37 U.S. Solid Oxide Electrolysis Cell (SOEC) Market, By END USER

38 Canada Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type

39 Canada Solid Oxide Electrolysis Cell (SOEC) Market, By Applications

40 Canada Solid Oxide Electrolysis Cell (SOEC) Market, By END USER

41 Mexico Solid Oxide Electrolysis Cell (SOEC) Market, By Product Type

42 Mexico Solid Oxide Electrolysis Cell (SOEC) Market, By Applications

43 Mexico Solid Oxide Electrolysis Cell (SOEC) Market, By END USER

44 Four Quadrant Positioning Matrix

45 Company Market Share Analysis

46 Sunfire GmbH: Company Snapshot

47 Sunfire GmbH: SWOT Analysis

48 Sunfire GmbH: Geographic Presence

49 Siemens Energy: Company Snapshot

50 Siemens Energy: SWOT Analysis

51 Siemens Energy: Geographic Presence

52 ITM Power: Company Snapshot

53 ITM Power: SWOT Analysis

54 ITM Power: Geographic Presence

55 Ceres Power: Company Snapshot

56 Ceres Power: Swot Analysis

57 Ceres Power: Geographic Presence

58 Elcogen: Company Snapshot

59 Elcogen: SWOT Analysis

60 Elcogen: Geographic Presence

61 KYOCERA CORPORATION: Company Snapshot

62 KYOCERA CORPORATION: SWOT Analysis

63 KYOCERA CORPORATION: Geographic Presence

64 NextCell : Company Snapshot

65 NextCell : SWOT Analysis

66 NextCell : Geographic Presence

67 FuelCell Energy: Company Snapshot

68 FuelCell Energy: SWOT Analysis

69 FuelCell Energy: Geographic Presence

70 Hexis AG, Inc.: Company Snapshot

71 Hexis AG, Inc.: SWOT Analysis

72 Hexis AG, Inc.: Geographic Presence

73 Bloom Energy: Company Snapshot

74 Bloom Energy: SWOT Analysis

75 Bloom Energy: Geographic Presence

76 Other Companies: Company Snapshot

77 Other Companies: SWOT Analysis

78 Other Companies: Geographic Presence

The Global Solid Oxide Electrolysis Cell (SOEC) Market has been studied from the year 2019 till 2028. However, the CAGR provided in the report is from the year 2023 to 2028. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Solid Oxide Electrolysis Cell (SOEC) Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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Frequently Asked Questions

What is the projected market size of the global solid oxide electrolysis cell (SOEC) market?

The global solid oxide electrolysis cell (SOEC) is projected to grow at a CAGR of 25.5% from 2023 to 2028.

Who are the major vendors in the global solid oxide electrolysis cell (SOEC) market?

Sunfire GmbH, Siemens Energy, ITM Power, Ceres Power, Elcogen, Kyocera Corporation, NextCell, FuelCell Energy, Bloom Energy, and Hexis AG, among others are some of the key players in the global solid oxide electrolysis cell (SOEC) market.

What are the opportunities prevailing in the global solid oxide electrolysis cell (SOEC) market?

The global solid oxide electrolysis cell (SOEC) market presents several opportunities. The increasing demand for clean and sustainable energy solutions, particularly for hydrogen production is a significant opportunity. The integration of SOECs with renewable energy sources enables efficient energy storage and grid balancing. Incentives, and regulations further promote market growth. Additionally, the expanding applications of SOECs in industries such as chemical processes and energy storage create additional opportunities for market growth.

What are the major drivers for the global solid oxide electrolysis cell (SOEC) market growth?

The market growth during the forecast period is propelled by the increasing focus of developed markets like the United States and Europe on emission reduction, coupled with their inclination to adopt new technologies to rejuvenate or potentially substitute aging electric grids.