The global market for solid oxide fuel cells (SOFC) is expected to grow from $3.2 billion in 2025 and is projected to reach $9.6 billion by the end of 2030, at a compound annual growth rate (CAGR) of 24.4% during the forecast period of 2025 to 2030.
The Asia-Pacific SOFC market is expected to grow from $1.7 billion in 2025 and is projected to reach $4.8 billion by the end of 2030, at a CAGR of 22.7% during the forecast period of 2025 to 2030.
The North American SOFC market is expected to grow from $820.7 million in 2025 and is projected to reach $2.6 billion by the end of 2030, at a CAGR of 25.8% during the forecast period of 2025 to 2030.
Report Scope
This report encompasses a segmental analysis of the market by type, component, and application. The report also discusses the new innovations in SOFC technology, regulatory analysis, competitive aspects, energy transition, and economic trends that influence the market. The analyst has included a patent analysis for the SOFC market, which depicts an attractive investment prospect for technology investors. The study consists of Porter's analysis, an ESG development chapter, macro-economic factors, and a competitive landscape analysis, which enables the reader to understand more precisely the competitive environment in the global market. The report concludes by providing detailed profiles of the major providers of SOFCs.
The report also includes a regional analysis of SOFCs that covers North America, Europe, Asia-Pacific, and the Rest of the World (e.g., South America, the Middle East, and Africa). The country analysis, including the U.S., the U.K., South Korea, Japan, and China, further examines the current and future factors influencing demand. For this report, 2024 is considered the base year and 2025 is the estimated year. The market values are forecast for five years through 2030. All market values are in U.S. dollars ($) millions.
Report Includes
- 38 data tables and 48 additional tables
- An overview of the global market and technologies for solid oxide fuel cells (SOFC)
- Analyses of the global market trends, with sales data for 2024, estimates for 2025, forecasts for 2028, 2029, and projections for CAGRs through 2030
- Highlights of the market potential for solid oxide fuel cells, based on type, component, application, and region
- Coverage of history, comparison and characteristics of major fuel cell types and cost analysis of SOFC; and information on recent commercial developments, government initiatives and subsidies
- Discussion on the environmental impact of various types of SOFC
- Information on the latest developments in the SOFC and new industry research, upcoming technologies and economic trends
- Identification of challenges and discussion on how to overcome those to enable the market to reach its commercialization potential, and ESG trends of the market- Market share analysis of the key companies of the industry and coverage of their proprietary technologies, strategic alliances, and other key market strategies and a relevant patent analysis
- Comprehensive company profiles of the leading companies of the industry, including Bloom Energy, Mitsubishi Heavy Industries Ltd., Dosan Fuel Cell, Fuel Cell Energy, and Kyocera Corp.
Table of Contents
Chapter 1 Executive Summary
- Market Outlook
- Scope of Report
- Market Summary
- Market Dynamics and Growth Factors
- Segmental Analysis
- Regional Insights and Emerging Markets
- Conclusion
Chapter 2 Market Overview
- Current Market Overview and Future Scenario
- Current Market Overview
- Future Scenario
- Value Chain Analysis
- Raw Material Providers
- Component Manufacturers
- SOFC Providers and Manufacturers
- End-Use Industries
- Porter's Five Forces Analysis
- Bargaining Power of Buyers
- Bargaining Power of Suppliers
- Potential for New Entrants to the Market
- Competition in the Industry
- Threat of Substitutes
- Macroeconomic Factors
- Demand for Low-Emission Fuels
- Global Transition Toward Green Energy
- Impact of U.S. Tariff on the SOFC Market
- Government-Led Regulatory Frameworks and Initiatives
- U.S.
- Germany
- U.K.
- China
- Japan
- South Korea
Chapter 3 Market Dynamics
- Overview
- Market Drivers
- Growing Demand for FCEVs
- Supportive Government Regulations and Incentives
- Technological Advances in Fuel Cell Technology
- Market Restraints
- High Cost of Catalysts
- High Cost of Hydrogen Storage and Distribution
- Market Opportunities
- Growing Demand for Clean Energy Sources
- Demand for Fuel Cells for Backup Power in Data Centers
Chapter 4 Emerging Technologies and Developments
- Overview
- Emerging Technologies/Applications
- Developments in Bipolar Plates (BPPs)
- Developments in the SOFC Stacks
- Patent Analysis
- Overview
- Key Patents
- Key Findings
Chapter 5 Market Segmentation Analysis
- Segmentation Breakdown
- Global Market for Solid Oxide Fuel Cells by Type
- Key Takeaways for Type
- Planar SOFCs
- Tubular SOFCs
- Global Market for Solid Oxide Fuel Cells by Component
- Key Takeaways for Component
- Balance of Plant
- SOFC stack
- Global Market for Solid Oxide Fuel Cells by Application
- Key Takeaways for Applications
- Stationary
- Transportation
- Portable
- Geographic Breakdown
- Market Breakdown by Region
- Key Takeaways for Region
- North America
- Europe
- Asia-Pacific
- Rest of the World (RoW)
Chapter 6 Competitive Landscape
- Overview
- Market Ranking Analysis
- Bloom Energy
- Mitsubishi Heavy Industries Ltd.
- Doosan Fuel Cell Co. Ltd.
- FuelCell Energy Inc.
- Kyocera Corp.
- Key Developments
Chapter 7 Sustainability in the Solid Oxide Fuel Cells Market: An ESG Perspective
- Overview
- Environmental Impact
- Social Impact
- Governance Impact
- Current Status of ESG in the Market
- Case Study: Examples of Successful Implementation of ESG
- Plug Power Inc.
- Ballard Power Systems
- Concluding Remarks from BCC Research
Chapter 8 Appendix
- Methodology
- Research Steps
- References
- Abbreviations
- Company Profiles
- AISIN CORP.
- BLOOM ENERGY
- CONVION LTD.
- DOOSAN FUEL CELL CO. LTD.
- ELCOGEN AS
- FUELCELL ENERGY INC.
- KYOCERA CORP.
- MITSUBISHI HEAVY INDUSTRIES LTD.
- NEW ENERDAY GMBH
- NEXCERIS
- OXEON ENERGY LLC.
- SOLYDERA SPA
- SPECIAL POWER SOURCES
- UPSTART POWER
- WATT FUEL CELL
- Other Notable Players in the Global Market for Solid Oxide Fuel Cells