Summary

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

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Table of Contents

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 1
9.1.2. Company 2
9.1.3. Company 3
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