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Global Solid Oxide Electrolysis Cell Market Size Study & Forecast, by Product Type (Tubular, Others), By Application (Industrial Processes, Hydrogen Production, Fuel Production, Others), By End-user (Power Plant, Refineries, Others), and by Regional Analysis, 2023-2030

April 2024 | 200 pages | ID: G5136DD29234EN
Bizwit Research & Consulting LLP

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The Global Solid Oxide Electrolysis Cell Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Solid Oxide Electrolysis Cell (SOEC) is a type of electrochemical device that can convert electrical energy into chemical energy by splitting water (H2O) into its constituent elements, hydrogen (H2) and oxygen (O2), through a process known as electrolysis. It operates at high temperatures typically ranging from 500°C to 1000°C. The structure of a SOEC typically consists of a solid oxide electrolyte sandwiched between two porous electrodes. Increasing demand for green hydrogen, advancements in material science and technology, and increasing awareness about renewable energy sources are anticipated to create a lucrative demand for the market during the forecast period 2023-2030.

Additionally, the growing focus on decarbonization and the shift towards renewable energy sources have heightened the demand for green hydrogen production. SOECs offer an efficient and scalable method for producing hydrogen using renewable electricity, driving the adoption of this technology. According to Statista, in 2021, the market value of green hydrogen worldwide was USD 2.14 billion and it is anticipated to reach USD 135.43 billion by 2031. As a result, the growing green hydrogen globally is anticipated to support the market growth. Moreover, the growing awareness of environmental benefits and rising investments & partnerships are anticipated to create a lucrative opportunity for the market. However, the high initial investment costs stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Solid Oxide Electrolysis Cell Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing focus on clean energy, government support and incentives, growing demand for hydrogen, and advancements in technology. Moreover, the Asia Pacific is expected to grow at the fastest growth rate during the forecast period, owing to factors such as the rising demand for clean energy, investments in hydrogen infrastructure, growing partnerships and collaborations, and a growing focus on decentralized energy systems.

Major market players included in this report are:

Siemens Energy (Germany)

Elcogen AS (Estonia)

Bloomenergy (U.S.)

Nexceris (U.S.)

Fuel Cell Energy (U.S.)

Ballard Power Systems Inc. (Canada)

OxEon Energy LLC (U.S.)

ITM Power (U.K.)

Redox Power Systems (U.S.)

Bosch (Germany)

Recent Developments in the Market:
  • In September 2023, Casale SA and Next Hydrogen Solutions Inc. forged a Memorandum of Understanding (MOU) to jointly develop eco-friendly ammonia and methanol systems by integrating Next Hydrogen's cutting-edge electrolysis technology and products. Through this collaboration, the companies aim to leverage their extensive expertise and resources to expedite the growth and expansion of green ammonia and methanol plants linked to renewable energy sources.
Global Solid Oxide Electrolysis Cell Market Report Scope:
  • Historical Data – 2020 - 2021
  • Base Year for Estimation – 2022
  • Forecast period - 2023-2030
  • Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
  • Segments Covered - Product Type, Application, End-user, Region
  • Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
  • Customization Scope - Free report customization (equivalent to up to 8 analysts’ working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product Type:

Tubular

Others

By Application:

Industrial Processes

Hydrogen Production

Fuel Production

Others

By End-user:

Power Plant

Refineries

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Middle East & Africa

Saudi Arabia

South Africa

Rest of Middle East & Africa
CHAPTER 1. EXECUTIVE SUMMARY

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
  1.2.1. Solid Oxide Electrolysis Cell Market, by Region, 2020-2030 (USD Billion)
  1.2.2. Solid Oxide Electrolysis Cell Market, by Product Type, 2020-2030 (USD Billion)
  1.2.3. Solid Oxide Electrolysis Cell Market, by Application, 2020-2030 (USD Billion)
  1.2.4. Solid Oxide Electrolysis Cell Market, by End-user, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

CHAPTER 2. GLOBAL SOLID OXIDE ELECTROLYSIS CELL MARKET DEFINITION AND SCOPE

2.1. Objective of the Study
2.2. Market Definition & Scope
  2.2.1. Industry Evolution
  2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

CHAPTER 3. GLOBAL SOLID OXIDE ELECTROLYSIS CELL MARKET DYNAMICS

3.1. Solid Oxide Electrolysis Cell Market Impact Analysis (2020-2030)
  3.1.1. Market Drivers
    3.1.1.1. Increasing demand for green hydrogen
    3.1.1.2. Advancements in material science and technology
    3.1.1.3. Increasing awareness about renewable energy sources
  3.1.2. Market Challenges
    3.1.2.1. High initial investment costs
    3.1.2.2. Technical Complexity
  3.1.3. Market Opportunities
    3.1.3.1. Growing awareness of environmental benefits
    3.1.3.2. Rising investments & partnerships

CHAPTER 4. GLOBAL SOLID OXIDE ELECTROLYSIS CELL MARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
  4.3.1. Political
  4.3.2. Economical
  4.3.3. Social
  4.3.4. Technological
  4.3.5. Environmental
  4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL SOLID OXIDE ELECTROLYSIS CELL MARKET, BY PRODUCT TYPE

5.1. Market Snapshot
5.2. Global Solid Oxide Electrolysis Cell Market by Product Type, Performance - Potential Analysis
5.3. Global Solid Oxide Electrolysis Cell Market Estimates & Forecasts by Product Type 2020-2030 (USD Billion)
5.4. Solid Oxide Electrolysis Cell Market, Sub Segment Analysis
  5.4.1. Tubular
  5.4.2. Others

CHAPTER 6. GLOBAL SOLID OXIDE ELECTROLYSIS CELL MARKET, BY APPLICATION

6.1. Market Snapshot
6.2. Global Solid Oxide Electrolysis Cell Market by Application, Performance - Potential Analysis
6.3. Global Solid Oxide Electrolysis Cell Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Solid Oxide Electrolysis Cell Market, Sub Segment Analysis
  6.4.1. Industrial Processes
  6.4.2. Hydrogen Production
  6.4.3. Fuel Production
  6.4.4. Others

CHAPTER 7. SOLID OXIDE ELECTROLYSIS CELL MARKET, BY END-USER

7.1. Market Snapshot
7.2. Global Solid Oxide Electrolysis Cell Market by End-user, Performance - Potential Analysis
7.3. Global Solid Oxide Electrolysis Cell Market Estimates & Forecasts by End-user 2020-2030 (USD Billion)
7.4. Solid Oxide Electrolysis Cell Market, Sub Segment Analysis
  7.4.1. Power Plant
  7.4.2. Refineries
  7.4.3. Others

CHAPTER 8. GLOBAL SOLID OXIDE ELECTROLYSIS CELL MARKET, REGIONAL ANALYSIS

8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Solid Oxide Electrolysis Cell Market, Regional Market Snapshot
8.4. North America Solid Oxide Electrolysis Cell Market
  8.4.1. U.S. Solid Oxide Electrolysis Cell Market
    8.4.1.1. Product Type breakdown estimates & forecasts, 2020-2030
    8.4.1.2. Application breakdown estimates & forecasts, 2020-2030
    8.4.1.3. End-user breakdown estimates & forecasts, 2020-2030
  8.4.2. Canada Solid Oxide Electrolysis Cell Market
8.5. Europe Solid Oxide Electrolysis Cell Market Snapshot
  8.5.1. U.K. Solid Oxide Electrolysis Cell Market
  8.5.2. Germany Solid Oxide Electrolysis Cell Market
  8.5.3. France Solid Oxide Electrolysis Cell Market
  8.5.4. Spain Solid Oxide Electrolysis Cell Market
  8.5.5. Italy Solid Oxide Electrolysis Cell Market
  8.5.6. Rest of Europe Solid Oxide Electrolysis Cell Market
8.6. Asia-Pacific Solid Oxide Electrolysis Cell Market Snapshot
  8.6.1. China Solid Oxide Electrolysis Cell Market
  8.6.2. India Solid Oxide Electrolysis Cell Market
  8.6.3. Japan Solid Oxide Electrolysis Cell Market
  8.6.4. Australia Solid Oxide Electrolysis Cell Market
  8.6.5. South Korea Solid Oxide Electrolysis Cell Market
  8.6.6. Rest of Asia Pacific Solid Oxide Electrolysis Cell Market
8.7. Latin America Solid Oxide Electrolysis Cell Market Snapshot
  8.7.1. Brazil Solid Oxide Electrolysis Cell Market
  8.7.2. Mexico Solid Oxide Electrolysis Cell Market
8.8. Middle East & Africa Solid Oxide Electrolysis Cell Market
  8.8.1. Saudi Arabia Solid Oxide Electrolysis Cell Market
  8.8.2. South Africa Solid Oxide Electrolysis Cell Market
  8.8.3. Rest of Middle East & Africa Solid Oxide Electrolysis Cell Market

CHAPTER 9. COMPETITIVE INTELLIGENCE

9.1. Key Company SWOT Analysis
  9.1.1. Company
  9.1.2. Company
  9.1.3. Company
9.2. Top Market Strategies
9.3. Company Profiles
  9.3.1. Siemens Energy (Germany)
    9.3.1.1. Key Information
    9.3.1.2. Overview
    9.3.1.3. Financial (Subject to Data Availability)
    9.3.1.4. Product Summary
    9.3.1.5. Recent Developments
  9.3.2. Elcogen AS (Estonia)
  9.3.3. Bloomenergy (U.S.)
  9.3.4. Nexceris (U.S.)
  9.3.5. Fuel Cell Energy (U.S.)
  9.3.6. Ballard Power Systems Inc. (Canada)
  9.3.7. OxEon Energy LLC (U.S.)
  9.3.8. ITM Power (U.K.)
  9.3.9. Redox Power Systems (U.S.)
  9.3.10. Bosch (Germany)

CHAPTER 10. RESEARCH PROCESS

10.1. Research Process
  10.1.1. Data Mining
  10.1.2. Analysis
  10.1.3. Market Estimation
  10.1.4. Validation
  10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

12 .LIST OF TABLES

TABLE 1. Global Solid Oxide Electrolysis Cell Market, report scope
TABLE 2. Global Solid Oxide Electrolysis Cell Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3. Global Solid Oxide Electrolysis Cell Market estimates & forecasts by Product Type 2020-2030 (USD Billion)
TABLE 4. Global Solid Oxide Electrolysis Cell Market estimates & forecasts by Application 2020-2030 (USD Billion)
TABLE 5. Global Solid Oxide Electrolysis Cell Market estimates & forecasts by End-user 2020-2030 (USD Billion)
TABLE 6. Global Solid Oxide Electrolysis Cell Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7. Global Solid Oxide Electrolysis Cell Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Solid Oxide Electrolysis Cell Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Solid Oxide Electrolysis Cell Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Solid Oxide Electrolysis Cell Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Solid Oxide Electrolysis Cell Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Solid Oxide Electrolysis Cell Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Solid Oxide Electrolysis Cell Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Solid Oxide Electrolysis Cell Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. Global Solid Oxide Electrolysis Cell Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. U.S. Solid Oxide Electrolysis Cell Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 17. U.S. Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18. U.S. Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 19. Canada Solid Oxide Electrolysis Cell Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 20. Canada Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21. Canada Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 22. UK Solid Oxide Electrolysis Cell Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 23. UK Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24. UK Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 25. Germany Solid Oxide Electrolysis Cell Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 26. Germany Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27. Germany Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 28. France Solid Oxide Electrolysis Cell Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 29. France Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30. France Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 31. Italy Solid Oxide Electrolysis Cell Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 32. Italy Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33. Italy Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 34. Spain Solid Oxide Electrolysis Cell Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 35. Spain Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36. Spain Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 37. RoE Solid Oxide Electrolysis Cell Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 38. RoE Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39. RoE Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 40. China Solid Oxide Electrolysis Cell Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 41. China Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42. China Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 43. India Solid Oxide Electrolysis Cell Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 44. India Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45. India Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 46. Japan Solid Oxide Electrolysis Cell Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 47. Japan Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48. Japan Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 49. South Korea Solid Oxide Electrolysis Cell Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 50. South Korea Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51. South Korea Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 52. Australia Solid Oxide Electrolysis Cell Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 53. Australia Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54. Australia Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 55. RoAPAC Solid Oxide Electrolysis Cell Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 56. RoAPAC Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57. RoAPAC Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 58. Brazil Solid Oxide Electrolysis Cell Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 59. Brazil Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60. Brazil Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 61. Mexico Solid Oxide Electrolysis Cell Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 62. Mexico Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63. Mexico Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 64. RoLA Solid Oxide Electrolysis Cell Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 65. RoLA Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66. RoLA Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 67. Saudi Arabia Solid Oxide Electrolysis Cell Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 68. South Africa Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69. RoMEA Solid Oxide Electrolysis Cell Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 70. List of secondary sources, used in the study of global Solid Oxide Electrolysis Cell Market
TABLE 71. List of primary sources, used in the study of global Solid Oxide Electrolysis Cell Market
TABLE 72. Years considered for the study
TABLE 73. Exchange rates considered
List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Solid Oxide Electrolysis Cell Market, research methodology
FIG 2. Global Solid Oxide Electrolysis Cell Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Solid Oxide Electrolysis Cell Market, key trends 2022
FIG 5. Global Solid Oxide Electrolysis Cell Market, growth prospects 2023-2030
FIG 6. Global Solid Oxide Electrolysis Cell Market, porters 5 force model
FIG 7. Global Solid Oxide Electrolysis Cell Market, pest analysis
FIG 8. Global Solid Oxide Electrolysis Cell Market, value chain analysis
FIG 9. Global Solid Oxide Electrolysis Cell Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Solid Oxide Electrolysis Cell Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Solid Oxide Electrolysis Cell Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Solid Oxide Electrolysis Cell Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Solid Oxide Electrolysis Cell Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Solid Oxide Electrolysis Cell Market, regional snapshot 2020 & 2030
FIG 15. North America Solid Oxide Electrolysis Cell Market 2020 & 2030 (USD Billion)
FIG 16. Europe Solid Oxide Electrolysis Cell Market 2020 & 2030 (USD Billion)
FIG 17. Asia Pacific Solid Oxide Electrolysis Cell Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Solid Oxide Electrolysis Cell Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Solid Oxide Electrolysis Cell Market 2020 & 2030 (USD Billion)
List of tables and figures and dummy in nature, final lists may vary in the final deliverable


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