Solid Oxide Fuel Cell Market

Solid Oxide Fuel Cell Market by Type (Planar & Tubular), Application (Portable, Stationary, & Transport), End User (Commercial & Industrial, Data Centers, Military & Defense, and Residential ) and Region - Global Forecasts to 2027

Report Code: EP 2467 Mar, 2022, by marketsandmarkets.com

[242 Pages Report] The global solid oxide fuel cell market is projected to grow from USD 1.5 billion in 2022 to USD 6.5 billion by 2027, at a CAGR of 33.9 % during the forecast period. Fuel cells based on solid oxide technology offer a high operational efficiency, which can further be enhanced by utilizing the heat generated by these SOFCs while operations. The key drivers for the solid oxide fuel cell market include government subsidies and increased R&D on fuel cell programs; fuel flexibility and increasing demand for energy-efficient power generation and stringent emission norms.

Solid Oxide Fuel Cell Market

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Solid Oxide Fuel Cell Market Dynamics

Driver: Government subsidies and increased R&D on fuel cell programs

Government policies and incentives provided for fuel cells are some of the important driving factors for the growth of the solid oxide fuel cell industry. States such as California, Delaware, and Connecticut lead in fuel cell programs and offer incentives and subsidies for fuel cell installations, leading to SOFC and other fuel installations in the US. Previously, in the US, fuel cells installed until 31st December 2016 were eligible for a tax rebate of USD3,000/kW or 30% of the cost of the project. The Self-Generation Incentive Program (SGIP) of California supports the existing, new, and emerging distributed electricity generation through rebates for generators. California had authorized a budget of USD 566 million for SGIP until 2019; however, the program has further been extended, with the latest development being a workshop held by the Energy Division on SGIP Renewable Generation.

In Asia Pacific, China, Japan, and South Korea are the prominent countries that are emphasizing the growth of fuel cells for various applications, including utility-scale power generation. In 2019, China’s Ministry of Finance, Ministry of Industry and Information Technology (MIIT), Ministry of Science and Technology, and National Development and Reform Commission jointly announced subsidies for new energy vehicles. In addition, companies such as Bloom Energy and its subsidiaries have been working closely with the South Korean government to set up utility-scale power plants based on SOFC. Additionally, 2 different utility-scale power plants of 19.8 MW and 8.1 MW will be installed over the years in 2 different cities. Moreover, SK E&C (Bloom Energy) and South Korean authorities have signed a contract to develop an SOFC-based microgrid by 2022. These factors are the prime reasons for the growth of SOFC in Asia Pacific and North America.

Restraint:  High capital costs required for SOFC

SOFC are a complex integration of different chemical elements for the electro-catalytic oxidation of methane, LP gas, and other natural gas-based fuels to generate electricity. Since the basic chemical process is an exothermic reaction, SOFC usually operate at very high temperatures, typically ranging from 700°C to 1,200°C. Conventional ceramic electrolytes do not offer high operational efficiency at such temperatures; therefore, yttria-stabilized zirconia (YSZ) is required as an electrolyte. Further, a study conducted by a US research institution concluded that cell performance increases further when YSZ composite electrodes are also used with the electrolyte. Zirconium is an element that has titanium-like properties and has an extremely high melting temperature of 1,852°C. However, the cost of per unit zirconium is almost double the per-unit cost of conventional ceramic-based electrolytes. This increases fuel cell manufacturing and installation costs, which is one of the major restraints for this market.

Opportunity: Increasing adoption by end users in data centers and military sector

Data centers are the fastest-growing end users for the power generation application in the US. Operating a data center is highly power consuming and power intensive. Additionally, data centers require uninterrupted power 24*7 so as to minimize the loss of valuable data. According to the IEEE Communications Society, globally, electricity demand from data centers in 2018 was an estimated 198-terawatt hour or almost 1% of demand for electricity in the world. Due to the high consumption of power, data centers are opting for cost reductions by adopting distributed power generation, particularly fuel cells. Fuel cells, including SOFC, have previously seen tremendous growth in the US. SOFC adoption for data centers by Google, IBM, and Equinix has stimulated growth at the fastest rate in the US SOFC market. Currently, the total SOFC adoption by data centers is still minuscule with respect to the total data centers in the US, thus making it one of the most lucrative end-use segments for SOFC.

In the military sector, stationary and portable power generation by SOFC is on the rise. Additionally, the need for noiseless and efficient power generation for military application creates an opportunity for SOFC in this segment. The developments in SOFC portable applications for the military application are expected to increase with newer opportunities for the growth of this market further.

Challenge: High operating temperatures and start-up time of SOFC

SOFC require a longer duration for starting up operation when compared to other fuel cell technologies. Being a high-temperature technology, SOFC require time to reach a critical operating temperature to function at full capacity, thus contributing to higher start-up time. In addition, the operation of an SOFC releases a high amount of heat into the surrounding, which significantly increases the need for good thermal shielding, ultimately increasing its weight. These are the main reasons why SOFC have a low market share in portable applications and emergency power applications. The development of SOFC systems with lower start-up times is still in the initial stage. Currently, companies such as SOLIDPower, Sunfire, and Bloom Energy are investing in R&D to overcome the technical challenges associated with SOFC.

Market Trends

Solid Oxide Fuel Cell Market by Trends

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The planar segment, by product type, is expected to be the largest market from 2022 to 2027

The planar segment held the largest share of the solid oxide fuel cell market. . The growth is evident owing to the simple geometry and relatively easier construction process. Planar type of solid oxide fuel cells is typically designed in such a way that the ceramic fuel cell modules are arranged one above the other in a sandwich-type design with the electrolyte inserted between the electrodes.

The Stationary segment, by application  is expected to be  the largest market from 2022 to 2027

The stationary segment of the market, by application, is estimated to be the largest during the forecast period. The growth of the stationary segment is driven by the increasing focus on hydrogen-powered fuel cells for back-up power. The market for the stationary segment in Asia Pacific is expected to grow at the highest CAGR during the forecast period due to the fact that the governments of South Korea, China, and Japan are highly focusing on utilizing renewable energy and hence opting for utility-scale SOFC power plant.

North America: The largest region in the solid oxide fuel cell market in the year 2021.

The region has been segmented, by country, into US and Canada. US is the largest and fastest-growing market in the region. The growth in this country can be attributed to the high demand for fuel cell power generation, as well as increasing research and development for hydrogen generation. In addition, government policies and subsidies, including the Department of Energy’s (DoE’s) Solid State Energy Conversion Alliance (SECA) Program, are the prime driving factors for growth in the US market.

Solid Oxide Fuel Cell Market by Region

Key Market Players

The major players in the solid oxide fuel cell market are Bloom Energy(US), Mitsubishi Power(Japan), Aisin Seiki(Japan), Hitachi Zosen Corporation(Japan), and Ceres Power(UK), Adelan (UK), Adaptive Energy (US), Solid Power (Italy), Watt fuel cell corporation (US), Upstart power (US), AVL (Austria), Convion ltd. (Finland), Kyocera Corporation (Japan), Special Power Source (US), ZTEK Corporation (US), h2e Power (India), Elcogen AS (Estonia), Miura (Japan),  and others.

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Scope of the Report

Report Attributes

Details

Market size value in 2022:

 USD 1.5 Billion

Projected to reach 2027:

 USD 6.5 Billion

CAGR:

 33.9%

Base Year Considered:

 2021

Forecast Period:

 2022-2027

Largest Market:

 North America

Region Covered:

Asia Pacific, North America, Europe, and Rest of the World

Segments Covered:

Type, Application, End-User, Size and Region

Companies Covered:

Bloom Energy(US), Mitsubishi Power(Japan), Aisin Seiki(Japan), Hitachi Zosen Corporation(Japan), Ceres Power(UK), Adelan (UK), Adaptive Energy (US), Solid Power (Italy), Watt fuel cell corporation (US), Upstart power (US), AVL (Austria), Convion ltd. (Finland), Kyocera Corporation (Japan), Special Power Source (US), ZTEK Corporation (US), h2e Power (India), Elcogen AS (Estonia), Miura (Japan), Sunfire (Germany) and others

This research report categorizes the solid oxide fuel cell market based on Type, Application, End User, and Region.

Based on the type:

  • Planar
  • Tubular

Based on the application:

  • Portable
  • Stationary
  • Transport

Based on the end user:

  • Commercial & Industrial
  • Data Centers
  • Military & Defense
  • Residentials

Based on the region:

  • North America
  • Asia Pacific
  • Europe
  • Rest of the world

Recent Developments

  • In September 2021, Bloom Energy launched the Hydrogen Energy Server which can deliver on site electricity powered entirely by hydrogen and they use solid oxide stacks the commercial shipments of these electrolyers are expected to begin from 2022. These servers were tested for five months in Ulsan (South Korea) in association with SK Ecoplant (South Korea)
  • In August 2020, Aisin corporation and Aisin AW, both part of the Aisin Group, planned to integrate their management to strengthen their advanced research business. This integration enhanced the efficiency of interconnected projects and resources, resulting in agile research structure
  • In August 2020, Mitsubishi Power signed a contract with Asahi Quality & Innovations, Ltd., to provide its MEGAMIE solid oxide fuel cell (SOFC) systems for a demonstration project. This project is a part of the Japanese government’s Low Carbon Technology Research, Development and Demonstration Program. Asahi Quality & Innovations, Ltd., conducted tests under this project to generate power from small SOFC units that used the biogas coming out from the Ibaraki Brewery wastewater. The tests showed that the system generated continuous power for 10,000 hours and was rated at 200 kW. It supplied around 1,600 MWh of power and decreased the CO2 emissions by 1,000 tons annually. This project was financed by Sumitomo Mitsui Finance and Leasing Co., Ltd. via a lease scheme.
  • In November 2021, Hitachi invested into development of a Hydrogen multi resource platform. In which Hitachi will be developing a SOFC hybrid cogeneration system.
  • In February 2022, CERES, Weichai and Bosch agreed to form a three-way collaboration to look for opportunities in China. Two separate joint ventures will be signed. The first one will be a three-way system JV (“System JV”) which will be for the development and manufacture of solid oxide fuel cell (SOFC) systems. The second joint venture names the “Stack JV” will be established to supply fuel cell stacks to the system JV and potentially other third parties
  • In September 2021, CERES Invested into two projects to determine the most effective Ways to apply SOFC technology in megawatt cruise ship. The funding was received by UK department of Transport

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 29)
    1.1 STUDY OBJECTIVES
    1.2 DEFINITION
    1.3 INCLUSIONS AND EXCLUSIONS
           1.3.1 SOLID OXIDE FUEL CELL MARKET, BY APPLICATION
           1.3.2 MARKET, BY END USER
    1.4 MARKET SCOPE
           1.4.1 MARKET SEGMENTATION
           1.4.2 REGIONAL SCOPE
    1.5 YEARS CONSIDERED
    1.6 CURRENCY
    1.7 UNIT CONSIDERED
    1.8 LIMITATIONS
    1.9 STAKEHOLDERS
    1.1 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 35)
    2.1 RESEARCH DATA
           FIGURE 1 MARKET: RESEARCH DESIGN
    2.2 MARKET BREAKDOWN AND DATA TRIANGULATION
           FIGURE 2 DATA TRIANGULATION METHODOLOGY
           2.2.1 SECONDARY DATA
           2.2.2 PRIMARY DATA
                    2.2.2.1 Key insights from primary sources
                    2.2.2.2 Breakdown of primaries
    2.3 MARKET SIZE ESTIMATION
           2.3.1 BOTTOM-UP APPROACH
                    FIGURE 3 MARKET: INDUSTRY-/REGION- WISE ANALYSIS
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 4 MARKET: TOP-DOWN APPROACH
           2.3.3 DEMAND SIDE METRICS
                    FIGURE 5 MAIN METRICS CONSIDERED FOR ANALYZING DEMAND FOR SOLID OXIDE FUEL CELLS
                    2.3.3.1 Regional analysis
                    2.3.3.2 Country analysis
                    2.3.3.3 Demand-side key assumptions
                    2.3.3.4 Demand-side calculation
           2.3.4 SUPPLY-SIDE ANALYSIS
                    FIGURE 6 KEY METRICS CONSIDERED FOR ASSESSING SUPPLY OF SOLID OXIDE FUEL CELLS
                    FIGURE 7 MARKET: SUPPLY-SIDE ANALYSIS
                    2.3.4.1 Calculations for supply side
                    2.3.4.2 Assumptions for supply side
                               FIGURE 8 MARKET: MARKET SHARE ANALYSIS
    2.4 FORECAST

3 EXECUTIVE SUMMARY (Page No. - 48)
    TABLE 1 SOLID OXIDE FUEL CELL MARKET SNAPSHOT
    FIGURE 9 NORTH AMERICA HELD LARGEST SHARE OF SOLID OXIDE FUEL CELLMARKET IN 2021
    FIGURE 10 PLANAR SEGMENT EXPECTED TO DOMINATE MARKET,BY TYPE, 2022–2027
    FIGURE 11 BALANCE OF PLANT SEGMENT EXPECTED TO LEAD MARKET, BY COMPONENT, 2022 TO 2027
    FIGURE 12 STATIONARY SEGMENT EXPECTED TO LEAD MARKET,BY APPLICATION, 2022–2027
    FIGURE 13 COMMERCIAL & INDUSTRIAL SEGMENT EXPECTED TO LEAD MARKET, BY END USER, 2020–2027

4 PREMIUM INSIGHTS (Page No. - 52)
    4.1 ATTRACTIVE OPPORTUNITIES IN SOLID OXIDE FUEL CELL MARKET
           FIGURE 14 INCREASING DEMAND FOR CLEAN POWER GENERATION TO BOOST MARKET GROWTH FROM 2022 TO 2027
    4.2 MARKET, BY REGION
           FIGURE 15 MARKET TO EXHIBIT HIGHEST CAGR IN ASIA PACIFC DURING FORECAST PERIOD
    4.3 NORTH AMERICA MARKET,BY END USER AND COUNTRY
           FIGURE 16 COMMERCIAL & INDUSTRIAL END USER AND US HELD LARGEST SHARES OF MARKET IN NORTH AMERICA IN 2021
    4.4 MARKET, BY TYPE
           FIGURE 17 PLANAR SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE, BY TYPE, IN 2027
    4.5 MARKET, BY COMPONENT
           FIGURE 18 BALANCE OF PLANT (BOP) SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE, BY TYPE, IN 2027
    4.6 MARKET, BY APPLICATION
           FIGURE 19 STATIONARY SEGMENT TO ACCOUNT FOR LARGEST SHARE OF MARKET, BY APPLICATION, IN 2027
    4.7 MARKET, BY END USER
           FIGURE 20 COMMERCIAL & INDUSTRIAL SEGMENT TO DOMINATE MARKET, BY END USER, IN 2027

5 MARKET OVERVIEW (Page No. - 56)
    5.1 INTRODUCTION
    5.2 COVID-19 HEALTH ASSESSMENT
           FIGURE 21 GLOBAL PROPAGATION OF COVID-19
           FIGURE 22 PROPAGATION OF COVID-19 CASES IN SELECTED COUNTRIES
    5.3 COVID-19 ECONOMIC ASSESSMENT
           FIGURE 23 COMPARISON OF GDP FOR SELECTED G20 COUNTRIES IN 2020
    5.4 MARKET DYNAMICS
           FIGURE 24 MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.4.1 DRIVERS
                    5.4.1.1 Government subsidies and increased R&D on fuel cell programs
                    5.4.1.2 Fuel flexibility and increasing demand for energy-efficient power generation
                    5.4.1.3 Stringent emission norms in Europe and North America leading to demand for clean energy sources
                               FIGURE 25 ENERGY-RELATED CO2 EMISSIONS, 1990–2019 (GT CO2)
           5.4.2 RESTRAINTS
                    5.4.2.1 High fuel cell installation and manufacturing costs
                    5.4.2.2 Development of other types of fuel cells
                    5.4.2.3 Storage issues associated with hydrogen as fuel for SOFCs
           5.4.3 OPPORTUNITIES
                    5.4.3.1 Rising distributed power generation applications across regions
                               TABLE 2 COMPARISON OF FUEL CELLS AND OTHER DISTRIBUTED POWER GENERATION SOURCES
                    5.4.3.2 Increasing adoption by end users in data centers and military sector
           5.4.4 CHALLENGES
                    5.4.4.1 High operating temperatures and start-up time of SOFCs
                    5.4.4.2 Rise in investments in alternative clean technologies
                               FIGURE 26 RISE IN GLOBAL INVESTMENTS IN RENEWABLE ENERGY
                    5.4.4.3 High ceramic interconnect cost and degradation at high temperatures
    5.5 IMPACT OF COVID-19
    5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS
           5.6.1 REVENUE SHIFT AND NEW REVENUE POCKETS FOR SOLID OXIDE FUEL CELL PROVIDERS
           FIGURE 27 REVENUE SHIFT FOR SOLID OXIDE FUEL CELL PROVIDERS
    5.7 ECOSYSTEM
           FIGURE 28 ECOSYSTEM: MARKET
           TABLE 3 MARKET: ROLE IN ECOSYSTEM
    5.8 VALUE CHAIN ANALYSIS
           FIGURE 29 VALUE CHAIN ANALYSIS: MARKET
           5.8.1 COMPONENT MANUFACTURERS
           5.8.2 ASSEMBLERS/MANUFACTURERS
           5.8.3 DISTRIBUTORS (BUYERS)/END USERS
    5.9 PRICING ANALYSIS
           5.9.1 AVERAGE SELLING PRICE TREND
                    TABLE 4 MARKET: AVERAGE SELLING PRICES AND COST BREAK-UP OF SOFC STACK MANUFACTURING
                    TABLE 5 MARKET: SOLID OXIDE FUEL CELL APU BALANCE OF PLANT COST BREAKUP
                    FIGURE 30 SOFC STACK MANUFACTURING COST PER KW AS MEASURE OF NUMBER OF STACKS & SYSTEM SIZE
    5.10 TARIFFS AND REGULATORY LANDSCAPE
           5.10.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 6 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 7 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 8 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           5.10.2 REGULATIONS RELATED TO SOLID OXIDE FUEL CELLS
                    5.10.2.1 Regulatory framework in North America
                    5.10.2.2 Regulatory framework in Europe
                    5.10.2.3 Regulatory framework in Asia Pacific
    5.11 PATENT ANALYSIS
           5.11.1 LIST OF MAJOR PATENTS
                     TABLE 9 SOLID OXIDE FUEL CELL: INNOVATIONS AND PATENT REGISTRATIONS,JUNE 2017–FEBRUARY 2022
    5.12 CASE STUDY ANALYSIS
           5.12.1 IKEA USES FUEL CELLS FOR ON-SITE POWER GENERATION
                    5.12.1.1 Problem statement
                    5.12.1.2 Solution
           5.12.2 SAMSUNG HEAVY INDUSTRIES PLANS FOR CLEAN POWER SHIPS UNDER JOINT DEVELOPMENT AGREEMENT WITH BLOOM ENERGY
                    5.12.2.1 Problem statement
                    5.12.2.2 Solution
    5.13 TECHNOLOGICAL ANALYSIS
           5.13.1 DEVELOPMENT OF HYBRID SOFC TECHNOLOGIES
    5.14 KEY CONFERENCES AND EVENTS IN 2022 & 2023
           TABLE 10 MARKET: DETAILED LIST OF CONFERENCES & EVENTS
    5.15 MATERIAL ANALYSIS
           5.15.1 CLASSIFICATION BY OPERATING TEMPERATURE
                     FIGURE 31 CLASSIFICATION OF MARKET BY OPERATING TEMPERATURE
           5.15.2 CURRENT SCENARIO ASSOCIATED WITH SELECTION OF MATERIALS
                    TABLE 11 MARKET: CURRENT SCENARIO OF MATERIAL SELECTION
           5.15.3 TYPES OF SOFC SUPPORT STRUCTURES
                    TABLE 12 MARKET: TYPES OF SOFC SUPPORT STRUCTURES
           5.15.4 EFFECT OF THICKNESS ON PERFORMANCE
                     FIGURE 32 MARKET: EFFECT OF CATHODE LAYER THICKNESS ON PERFORMANCE
           5.15.5 INTERCONNECT COATINGS
                    TABLE 13 MARKET: INTERCONNECT COATINGS
           5.15.6 UPCOMING TRENDS IN ALTERNATE MATERIALS
                    TABLE 14 MARKET: UPCOMING MATERIAL TRENDS
    5.16 PORTER’S FIVE FORCES ANALYSIS
           FIGURE 33 PORTER’S FIVE FORCES ANALYSIS FOR MARKET
           TABLE 15 MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.16.1 THREAT OF SUBSTITUTES
           5.16.2 BARGAINING POWER OF SUPPLIERS
           5.16.3 BARGAINING POWER OF BUYERS
           5.16.4 THREAT OF NEW ENTRANTS
           5.16.5 INTENSITY OF COMPETITIVE RIVALRY

6 SOLID OXIDE FUEL CELL MARKET, BY TYPE (Page No. - 87)
    6.1 INTRODUCTION
           FIGURE 34 MARKET SHARE, BY TYPE, 2021
           TABLE 16 MARKET BY TYPE, 2020–2027 (USD MILLION)
    6.2 PLANAR
           6.2.1 USE OF SIMPLE GEOMETRY AND RELATIVELY EASIER CONSTRUCTION PROCESS ARE PROPELLING GROWTH OF PLANAR SOFC SEGMENT
                    TABLE 17 PLANAR MARKET, BY REGION, 2020–2027 (USD MILLION)
    6.3 TUBULAR
           6.3.1 RAPID START-UP CAPABILITIES AND HIGH POWER DENSITIES OF TUBULAR SOFCS ARE LIKELY TO DRIVE MARKET GROWTH
                    TABLE 18 TUBULAR MARKET, BY REGION, 2020–2027 (USD MILLION)

7 SOLID OXIDE FUEL CELL MARKET, BY COMPONENT (Page No. - 91)
    7.1 INTRODUCTION
           FIGURE 35 MARKET SHARE, BY COMPONENT, 2021
           TABLE 19 MARKET, BY COMPONENT, 2020–2027 (USD MILLION)
    7.2 STACK
           7.2.1 INCREASE IN CLEAN ENERGY REGULATIONS BOOSTS SOLID OXIDE FUEL CELL STACK MANUFACTURING
                    TABLE 20 MARKET FOR STACK, BY COMPONENT, 2020–2027 (USD MILLION)
           7.2.2 CELLS
           7.2.3 INTERCONNECTS
           7.2.4 END PLATES
           7.2.5 SEALANTS
           7.2.6 OTHER STACK COMPONENTS
    7.3 BALANCE OF PLANT (BOP)
           7.3.1 BALANCE OF PLANT COMPONENTS DOMINATE SOFC MARKET
           TABLE 21 MARKET FOR BALANCE OF PLANT, BY COMPONENT2020–2027 (USD MILLION)
           7.3.2 HEAT TRANSFER COMPONENTS
           7.3.3 POWER ELECTRONICS & CONTROL SYSTEMS
           7.3.4 INSTRUMENTS & SENSORS
           7.3.5 FUEL REFORMERS/DESULFURIZERS
           7.3.6 OTHER BOP COMPONENTS

8 SOLID OXIDE FUEL CELL MARKET, BY APPLICATION (Page No. - 96)
    8.1 INTRODUCTION
           FIGURE 36 MARKET SHARE, BY APPLICATION, 2021
           TABLE 22 MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
    8.2 PORTABLE
           8.2.1 PORTABLE SOLID OXIDE FUEL CELLS ARE MAINLY USED BY MILITARY ORGANIZATIONS
                    TABLE 23 PORTABLE: MARKET, BY REGION, 2020–2027 (USD MILLION)
    8.3 STATIONARY
           TABLE 24 STATIONARY: MARKET, BY REGION, 2020–2027 (USD MILLION)
           TABLE 25 MARKET FOR STATIONARY, BY APPLICATION, 2020-2027
           8.3.1 PRIMARY
                    8.3.1.1 Increasing utilization of fuel cells in North American utilities expected to fuel growth of primary subsegment
                               TABLE 26 PRIMARY STATIONARY APPLICATION: MARKET, BY REGION, 2020–2027 (USD MILLION)
           8.3.2 BACKUP
                    8.3.2.1 Adoption of fuel cells for backup power generation in data centers during grid outages to boost market growth
                               TABLE 27 BACKUP STATIONARY APPLICATION: MARKET, BY REGION, 2020–2027 (USD MILLION)
           8.3.3 COMBINED HEAT & POWER
                    8.3.3.1 Adoption of residential combined heat & power fuel cell units in Europe and Japan to drive growth of this segment
                               TABLE 28 COMBINED HEAT & POWER STATIONARY APPLICATION: MARKET, BY REGION, 2020–2027 (USD MILLION)
    8.4 TRANSPORT
           8.4.1 INCREASE IN DEVELOPMENT OF SOFCS FOR OPERATING HEAVY-DUTY VEHICLES TO DRIVE MARKET GROWTH
                    TABLE 29 TRANSPORT: ARKET, BY REGION, 2020–2027 (USD MILLION)

9 SOLID OXIDE FUEL CELL MARKET, BY END USER (Page No. - 104)
    9.1 INTRODUCTION
           FIGURE 37 MARKET SHARE, BY END USER, 2021
           TABLE 30 MARKET, BY END USER, 2020–2027 (USD MILLION)
    9.2 RESIDENTIAL
           9.2.1 RISING NEED FOR ENERGY REDUCTION AND ENERGY EFFICIENCY IN RESIDENTIAL AREAS IS LIKELY TO DRIVE GROWTH OF RESIDENTIAL SEGMENT
                    TABLE 31 RESIDENTIAL: MARKET, BY REGION, 2020–2027 (USD MILLION)
    9.3 COMMERCIAL & INDUSTRIAL
           9.3.1 NEED TO DECREASE CARBON EMISSION & INCREASING INVESTMENTS IN SHIPPING INDUSTRY LIKELY TO BOOST GROWTH OF COMMERCIAL & INDUSTRIAL SEGMENT
                    TABLE 32 COMMERCIAL & INDUSTRIAL: MARKET, BY REGION,2020–2027 (USD MILLION)
    9.4 DATA CENTERS
           9.4.1 GROWING NEED FOR BACKUP POWER IN DATA CENTERS DURING OUTAGES TO SPUR GROWTH OF DATA CENTER SEGMENT
                    TABLE 33 DATA CENTERS: MARKET, BY REGION, 2020–2027 (USD MILLION)
    9.5 MILITARY & DEFENSE
           9.5.1 HIGHER EFFICIENCIES OF SOFC SPUR DEMAND FOR SOLID OXIDE FUEL CELLS FOR MILITARY MISSIONS
                    TABLE 34 MILITARY & DEFENSE: MARKET, BY REGION, 2020–2027 (MILLION)

10 GEOGRAPHIC ANALYSIS (Page No. - 111)
     10.1 INTRODUCTION
             FIGURE 38 REGIONAL SNAPSHOT: ASIA PACIFIC IS EXPECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
             FIGURE 39 MARKET, BY COUNTRY, 2021
             TABLE 35 MARKET, BY REGION, 2020–2027 (USD MILLION)
             TABLE 36 MARKET, BY REGION, 2020–2027 (MW)
     10.2 NORTH AMERICA
           FIGURE 40 NORTH AMERICA: MARKET SNAPSHOT
             10.2.1 BY COUNTRY
                        TABLE 37 SOLID OXIDE FUEL CELL IN NORTH AMERICA, BY COUNTRY, 2020–2027 (USD MILLION)
                        TABLE 38 SOLID OXIDE FUEL CELL IN NORTH AMERICA, BY COUNTRY, 2020–2027 (MW)
             10.2.2 BY TYPE
                        TABLE 39 MARKET IN NORTH AMERICA, BY TYPE, 2020–2027 (USD MILLION)
                        TABLE 40 SOLID OXIDE FUEL CELL FOR PLANAR IN NORTH AMERICA, BY COUNTRY,2020–2027 (USD MILLION)
                        TABLE 41 SOLID OXIDE FUEL CELL FOR TUBULAR IN NORTH AMERICA, BY COUNTRY,2020–2027 (USD MILLION)
             10.2.3 BY APPLICATION
                        TABLE 42 MARKET IN NORTH AMERICA, BY APPLICATION,2020–2027 (USD MILLION)
                        TABLE 43 SOLID OXIDE FUEL CELL FOR PORTABLE IN NORTH AMERICA, BY COUNTRY,2020–2027 (USD MILLION)
                        TABLE 44 SOLID OXIDE FUEL CELL FOR STATIONARY IN NORTH AMERICA, BY COUNTRY,2020–2027 (USD MILLION)
                        TABLE 45 SOLID OXIDE FUEL CELL FOR TRANSPORT NORTH AMERICA, BY COUNTRY,2020–2027 (USD MILLION)
             10.2.4 BY END USER
                        TABLE 46 MARKET IN NORTH AMERICA, BY END USER, 2020–2027 (USD MILLION)
                        TABLE 47 SOLID OXIDE FUEL CELL FOR RESIDENTIAL IN NORTH AMERICA, BY COUNTRY,2020–2027 (USD MILLION)
                        TABLE 48 SOLID OXIDE FUEL CELL FOR COMMERCIAL & INDUSTRIAL IN NORTH AMERICA,BY COUNTRY, 2020–2027 (USD MILLION)
                        TABLE 49 SOLID OXIDE FUEL CELL FOR DATA CENTERS IN NORTH AMERICA, BY COUNTRY,2020–2027 (USD MILLION)
                        TABLE 50 SOLID OXIDE FUEL CELL FOR MILITARY & DEFENSE IN NORTH AMERICA, BY COUNTRY, 2020–2027 (USD MILLION)
                        10.2.4.1 US
                                     10.2.4.1.1 Growing demand for clean energy generation and emphasis on R&D of SOFC technology are driving market growth in US
                                                    TABLE 51 MARKET IN US, BY TYPE, 2020–2027 (USD MILLION)
                                                    TABLE 52 MARKET IN US, BY APPLICATION, 2020–2027 (USD MILLION)
                                                    TABLE 53 MARKET IN US, BY END USER, 2020–2027 (USD MILLION)
                        10.2.4.2 Canada
                                     10.2.4.2.1 Government policies advocating use of SOFC technology to fuel market growth
                                                    TABLE 54 MARKET IN CANADA, BY TYPE, 2020–2027 (USD MILLION)
                                                    TABLE 55 MARKET IN CANADA, BY APPLICATION, 2020–2027 (USD MILLION)
                                                    TABLE 56 MARKET IN CANADA, BY END USER, 2020–2027 (USD MILLION)
     10.3 ASIA PACIFIC
             FIGURE 41 ASIA PACIFIC: MARKET SNAPSHOT
             10.3.1 BY COUNTRY
                        TABLE 57 MARKET IN ASIA PACIFIC, BY COUNTRY, 2020–2027 (USD MILLION)
                        TABLE 58 MARKET IN ASIA PACIFIC, BY COUNTRY, 2020–2027 (MW)
             10.3.2 BY TYPE
                        TABLE 59 MARKET IN ASIA PACIFIC, BY TYPE, 2020–2027 (USD MILLION)
                        TABLE 60 MARKET FOR PLANAR IN ASIA PACIFIC, BY COUNTRY,2020–2027 (USD MILLION)
                        TABLE 61 MARKET FOR TUBULAR IN ASIA PACIFIC, BY COUNTRY,2020–2027 (USD MILLION)
             10.3.3 BY APPLICATION
                        TABLE 62 MARKET IN ASIA PACIFIC, BY APPLICATION, 2020–2027 (USD MILLION)
                        TABLE 63 MARKET FOR PORTABLE IN ASIA PACIFIC, BY COUNTRY,2020–2027 (USD MILLION)
                        TABLE 64 MARKET FOR STATIONARY IN ASIA PACIFIC, BY COUNTRY,2020–2027 (USD MILLION)
                        TABLE 65 MARKET FOR TRANSPORT IN ASIA PACIFIC, BY COUNTRY,2020–2027 (USD MILLION)
             10.3.4 BY END USER
                        TABLE 66 MARKET IN ASIA PACIFIC, BY END USER, 2020–2027 (USD MILLION)
                        TABLE 67 MARKET FOR RESIDENTIAL IN ASIA PACIFIC, BY COUNTRY, 2020–2027 (USD MILLION)
                        TABLE 68 MARKET FOR COMMERCIAL & INDUSTRIAL IN ASIA PACIFIC,BY COUNTRY, 2020–2027 (USD MILLION)
                        TABLE 69 MARKET FOR DATA CENTERS IN ASIA PACIFIC, BY COUNTRY, 2020–2027 (USD MILLION)
                        TABLE 70 MARKET FOR MILITARY & DEFENSE IN ASIA PACIFIC,BY COUNTRY, 2020–2027 (USD MILLION)
                        10.3.4.1 JAPAN
                                     10.3.4.1.1 Progressive commercialization of SOFC technology in Japan contributes to growth of SOFC market
                                                    TABLE 71 MARKET IN JAPAN, BY TYPE, 2020–2027 (USD MILLION)
                                                    TABLE 72 MARKET IN JAPAN, BY APPLICATION, 2020–2027 (USD MILLION)
                                                    TABLE 73 MARKET IN JAPAN, BY END USER, 2020–2027 (USD MILLION)
                        10.3.4.2 South Korea
                                     10.3.4.2.1 Increasing investment by SOFC manufactures likely to drive SOFC market growth in South Korea
                                                    TABLE 74 MARKET IN SOUTH KOREA, BY TYPE, 2020–2027 (USD MILLION)
                                                    TABLE 75 MARKET IN SOUTH KOREA, BY APPLICATION, 2020–2027 (USD MILLION)
                                                    TABLE 76 MARKET IN SOUTH KOREA, BY END USER, 2020–2027 (USD MILLION)
                        10.3.4.3 China
                                     10.3.4.3.1 Decarbonization and air quality needs in transportation market to drive market for SOFCs in China
                                                    TABLE 77 MARKET IN CHINA, BY TYPE, 2020–2027 (USD MILLION)
                                                    TABLE 78 MARKET IN CHINA, BY APPLICATION, 2020–2027 (USD MILLION)
                                                    TABLE 79 MARKET IN CHINA, BY END USER, 2020–2027 (USD MILLION)
                        10.3.4.4 Rest of Asia Pacific
                                     TABLE 80 MARKET IN REST OF ASIA PACIFIC, BY TYPE, 2020–2027 (USD MILLION)
                                     TABLE 81 MARKET IN REST OF ASIA PACIFIC, BY APPLICATION,2020–2027 (USD MILLION)
                                     TABLE 82 MARKET IN REST OF ASIA PACIFIC, BY END USER,2020–2027 (USD MILLION)
     10.4 EUROPE
             10.4.1 BY COUNTRY
                        TABLE 83 MARKET IN EUROPE, BY COUNTRY, 2020–2027 (USD THOUSAND)
                        TABLE 84 MARKET IN EUROPE, BY COUNTRY, 2020–2027 (MW)
             10.4.2 BY TYPE
                        TABLE 85 MARKET IN EUROPE, BY TYPE, 2020–2027 (USD MILLION)
                        TABLE 86 MARKET FOR PLANAR IN EUROPE, BY COUNTRY,2020–2027 (USD MILLION)
                        TABLE 87 MARKET FOR TUBULAR IN EUROPE, BY COUNTRY,2020–2027 (USD THOUSAND)
             10.4.3 BY APPLICATION
                        TABLE 88 MARKET IN EUROPE, BY APPLICATION, 2020–2027 (USD MILLION)
                        TABLE 89 MARKET FOR PORTABLE IN EUROPE, BY COUNTRY,2020–2027 (USD THOUSAND)
                        TABLE 90 MARKET FOR STATIONARY IN EUROPE, BY COUNTRY,2020–2027 (USD THOUSAND)
                        TABLE 91 MARKET FOR TRANSPORT IN EUROPE, BY COUNTRY,2020–2027 (USD THOUSAND)
             10.4.4 BY END USER
                        TABLE 92 MARKET IN EUROPE, BY END USER, 2020–2027 (USD MILLION)
                        TABLE 93 MARKET FOR RESIDENTIAL IN EUROPE, BY COUNTRY,2020–2027 (USD THOUSAND)
                        TABLE 94 MARKET FOR COMMERCIAL & INDUSTRIAL IN EUROPE,BY COUNTRY, 2020–2027 (USD MILLION)
                        TABLE 95 MARKET FOR DATA CENTERS IN EUROPE, BY COUNTRY,2020–2027 (USD THOUSAND)
                        TABLE 96 MARKET FOR MILITARY & DEFENSE IN EUROPE, BY COUNTRY, 2020–2027 (USD THOUSAND)
                        10.4.4.1 Germany
                                     10.4.4.1.1 Growing investment in R&D activities is likely to drive SOFC market growth in Germany
                                                    TABLE 97 MARKET IN GERMANY, BY TYPE, 2020–2027 (USD MILLION)
                                                    TABLE 98 MARKET IN GERMANY, BY APPLICATION, 2020–2027 (USD MILLION)
                                                    TABLE 99 MARKET IN GERMANY, BY END USER, 2020–2027 (USD MILLION)
                        10.4.4.2 UK
                                     10.4.4.2.1 Emission regulations are driving innovation in SOFCtechnology in UK
                                                    TABLE 100 MARKET IN UK, BY TYPE, 2020–2027 (USD MILLION)
                                                    TABLE 101 MARKET IN UK, BY APPLICATION, 2020–2027 (USD MILLION)
                                                    TABLE 102 MARKET IN UK, BY END USER, 2020–2027 (USD MILLION)
                        10.4.4.3 Italy
                                     10.4.4.3.1 Growing adoption of SOFCs to curb carbon emission is driving SOFC market growth in Italy
                                                    TABLE 103 MARKET IN ITALY, BY TYPE, 2020–2027 (USD THOUSAND)
                                                    TABLE 104 MARKET IN ITALY, BY APPLICATION, 2020–2027 (USD THOUSAND)
                                                    TABLE 105 MARKET IN ITALY, BY END USER, 2020–2027 (USD MILLION)
                        10.4.4.4 Rest of Europe
                                     TABLE 106 MARKET IN REST OF EUROPE, BY TYPE, 2020–2027 (USD THOUSAND)
                                     TABLE 107 MARKET IN REST OF EUROPE, BY APPLICATION,2020–2027 (USD THOUSANDS)
                                     TABLE 108 MARKET IN REST OF EUROPE, BY END USER, 2020–2027 (USD THOUSANDS)
     10.5 REST OF THE WORLD
             10.5.1 BY TYPE
                        TABLE 109 MARKET IN ROW, BY TYPE, 2020–2027 (USD MILLION)
             10.5.2 BY APPLICATION
                        TABLE 110 MARKET IN ROW, BY APPLICATION, 2020–2027 (USD THOUSAND)
             10.5.3 BY END USER
                        TABLE 111 MARKET IN ROW, BY END USER, 2020–2027 (USD MILLION)

11 COMPETITIVE LANDSCAPE (Page No. - 145)
     11.1 KEY PLAYERS STRATEGIES
             TABLE 112 OVERVIEW OF KEY STRATEGIES DEPLOYED BY TOP PLAYERS, JANUARY 2017– FEBRURAY 2022
     11.2 MARKET SHARE ANALYSIS OF TOP FIVE PLAYERS
             TABLE 113 MARKET: DEGREE OF COMPETITION
             FIGURE 42 MARKET SHARE ANALYSIS, 2021
     11.3 SEGMENTAL REVENUE ANALYSIS OF TOP FIVE MARKET PLAYERS
             FIGURE 43 5 YEAR SEGMENTAL ANALYSIS OF TOP PLAYERS FROM 2016 TO 2020
     11.4 COMPANY EVALUATION QUADRANT
             11.4.1 STAR
             11.4.2 PERVASIVE
             11.4.3 EMERGING LEADER
             11.4.4 PARTICIPANT
                        FIGURE 44 COMPETITIVE LEADERSHIP MAPPING: SOLID OXIDE FUEL CELLMARKET, 2020
     11.5 SOLID OXIDE FUEL CELL: COMPANY FOOTPRINT
             TABLE 114 BY END USER: COMPANY FOOTPRINT
             TABLE 115 BY REGION: COMPANY FOOTPRINT
             TABLE 116 BY APPLICATION: COMPANY FOOTPRINT
             TABLE 117 COMPANY FOOTPRINT
     11.6 COMPETITIVE SCENARIO
             TABLE 118 MARKET: PRODUCT LAUNCHES,JANUARY 2017– FEBRUARY 2022
             TABLE 119 SOLID OXIDE FUEL CELL: DEALS, JANURAY 2017– FEBRUARY 2022
             TABLE 120 MARKET: OTHERS, JANURAY 2017 – FEBRURAY 2022
     11.7 START-UP/SME EVALUATION QUADRANT, 2020
             11.7.1 PROGRESSIVE COMPANY
             11.7.2 RESPONSIVE COMPANY
             11.7.3 DYNAMIC COMPANY
             11.7.4 STARTING BLOCK
                        FIGURE 45 MARKET: START-UP/SME EVALUATION QUADRANT, 2020
     11.8 COMPETITIVE BENCHMARKING
             TABLE 121 MARKET: DETAILED LIST OF KEY STARTUP/SMES
             TABLE 122 MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS [STARTUPS/SMES]

12 COMPANY PROFILES (Page No. - 164)
     12.1 KEY PLAYERS
(Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments)* 
             12.1.1 BLOOM ENERGY
                        TABLE 123 BLOOM ENERGY: BUSINESS OVERVIEW
                        FIGURE 46 BLOOM ENERGY: COMPANY SNAPSHOT, 2020
                        TABLE 124 BLOOM ENERGY: PRODUCTS OFFERED
                        TABLE 125 BLOOM ENERGY: PRODUCT LAUNCHES
                        TABLE 126 BLOOM ENERGY: DEALS
                        TABLE 127 BLOOM ENERGY: OTHERS
             12.1.2 AISIN CORPORATION
                        TABLE 128 AISIN CORPORATION: BUSINESS OVERVIEW
                        FIGURE 47 AISIN CORPORATION: COMPANY SNAPSHOT, 2020
                        TABLE 129 AISIN CORPORATION: PRODUCTS OFFERED
                        TABLE 130 AISIN CORPORATION: DEALS
             12.1.3 MITSUBISHI POWER
                        TABLE 131 MITSUBISHI POWER: BUSINESS OVERVIEW
                        FIGURE 48 MITSUBISHI POWER: COMPANY SNAPSHOT, 2020
                        TABLE 132 MITSUBISHI POWER: PRODUCTS OFFERED
                        TABLE 133 MITSHUBISHI POWER: DEALS
             12.1.4 HITACHI ZOSEN CORPORATION
                        TABLE 134 HITACHI ZOSEN CORPORATION: BUSINESS OVERVIEW
                        FIGURE 49 HITACHI ZOSEN CORPORATION: COMPANY SNAPSHOT, 2020
                        TABLE 135 HITACHI ZOSEN CORPORATION: PRODUCTS OFFERED
                        TABLE 136 HITACHI ZOSEN CORPORATION: DEALS
                        TABLE 137 HITACHI ZOSEN CORPORATION: OTHERS
             12.1.5 CERES
                        TABLE 138 CERES: BUSINESS OVERVIEW
                        FIGURE 50 CERES: COMPANY SNAPSHOT, 2020
                        TABLE 139 CERES: PRODUCTS OFFERED
                        TABLE 140 CERES: DEALS
                        TABLE 141 CERES: OTHERS
             12.1.6 MIURA CO., LTD.
                        TABLE 142 MIURA CO., LTD.: BUSINESS OVERVIEW
                        FIGURE 51 MIURA CO., LTD.: COMPANY SNAPSHOT, 2020
                        TABLE 143 MIURA CO., LTD.: PRODUCTS OFFERED
             12.1.7 KYOCERA CORPORATION
                        TABLE 144 KYOCERA CORPORATION: BUSINESS OVERVIEW
                        FIGURE 52 KYOCERA CORPORATION: COMPANY SNAPSHOT, 2020
                        TABLE 145 KYOCERA CORPORATION: PRODUCTS OFFERED
                        TABLE 146 KYOCERA CORPORATION: PRODUCT LAUNCHES
             12.1.8 SOLIDPOWER S.P.A
                        TABLE 147 SOLIDPOWER S.P.A.: BUSINESS OVERVIEW
                        TABLE 148 SOLIDPOWER S.P.A.: PRODUCTS OFFERED
                        TABLE 149 SOLIDPOWER: DEALS
                        TABLE 150 SOLIDPOWER: OTHERS
             12.1.9 ELCOGEN AS
                        TABLE 151 ELCOGEN AS: BUSINESS OVERVIEW
                        TABLE 152 ELCOGEN AS: PRODUCTS OFFERED
                        TABLE 153 ELCOGEN AS: DEALS
             12.1.10 CONVION LTD.
                        TABLE 154 CONION LTD.: BUSINESS OVERVIEW
                        TABLE 155 CONVION LTD.: PRODUCTS OFFERED
                        TABLE 156 CONVION LTD.: DEALS
                        TABLE 157 CONVION LTD.: OTHERS
             12.1.11 SUNFIRE GMBH
                        TABLE 158 SUNFIRE GMBH: BUSINESS OVERVIEW
                        TABLE 159 SUNFIRE GMBH: PRODUCTS OFFERED
                        TABLE 160 SUNFIRE GMBH: DEALS
                        TABLE 161 SUNFIRE GMBH: OTHERS
             12.1.12 H2E POWER SYSTEMS PVT. LTD.
                        TABLE 162 H2E POWER SYSTEMS PVT. LTD: BUSINESS OVERVIEW
                        TABLE 163 H2E POWER SYSTEMS PVT. LTD: PRODUCTS OFFERED
                        TABLE 164 H2E POWER SYSTEMS PVT. LTD (INDIA): DEALS
             12.1.13 WATT FUEL CELL CORPORATION
                        TABLE 165 WATT FUEL CELL CORPORATION: BUSINESS OVERVIEW
                        TABLE 166 WATT FUEL CELL CORPORATION: PRODUCTS OFFERED
                        TABLE 167 WATT FUEL CELL CORPORATION: DEALS
             12.1.14 UPSTART POWER, INC
                        TABLE 168 UPSTART POWER, INC.: BUSINESS OVERVIEW
                        TABLE 169 UPSTART POWER, INC: PRODUCTS OFFERED
     12.2 OTHER PLAYERS
             12.2.1 ZTEK CORPORATION
                        TABLE 170 ZTEK CORPORATION INC: BUSINESS OVERVIEW
             12.2.2 SPECIAL POWER SOURCE
                        TABLE 171 SPECIAL POWER SOURCES: BUSINESS OVERVIEW
             12.2.3 ADELAN
                        TABLE 172 ADELAN: BUSINESS OVERVIEW
             12.2.4 AVL
                        TABLE 173 AVL: BUSINESS OVERVIEW
             12.2.5 ADAPTIVE ENERGY
                        TABLE 174 ADAPTIVE ENERGY: BUSINESS OVERVIEW
     12.3 R&D PLAYERS
             12.3.1 ROBERT BOSCH GMBH
                        TABLE 175 ROBERT BOSCH GMBH: BUSINESS OVERVIEW
                        FIGURE 53 ROBERT BOSCH GMBH: COMPANY SNAPSHOT, 2020
                        TABLE 176 ROBERT BOSCH GMBH: DEALS
                        TABLE 177 ROBERT BOSCH GMBH: OTHERS
             12.3.2 WEICHAI POWER CO., LTD
                        TABLE 178 WEICHAI POWER CO., LTD.: BUSINESS OVERVIEW
                        FIGURE 54 WEICHAI POWER CO., LTD.: COMPANY SNAPSHOT, 2020
                        TABLE 179 WEICHAI POWER CO., LTD.: DEALS
             12.3.3 DOOSAN FUEL CELL CO., LTD.
                        TABLE 180 DOOSAN FUEL CELL CO., LTD.: BUSINESS OVERVIEW
                        FIGURE 55 DOOSAN FUEL CELL CO., LTD.: COMPANY SNAPSHOT, 2020
                        TABLE 181 DOOSAN FUEL CELL CO., LTD.: DEALS
             12.3.4 FUEL CELL ENERGY
                        TABLE 182 FUEL CELL ENERGY: BUSINESS OVERVIEW
             12.3.5 POSCO ENERGY
                        TABLE 183 POSCO ENERGY: BUSINESS OVERVIEW
             12.3.6 CLARA VENTURE LABS
                        TABLE 184 CLARA VENTURE LABS: BUSINESS OVERVIEW
             12.3.7 CUMMINS
                        TABLE 185 CUMMINS: BUSINESS OVERVIEW
*Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments might not be captured in case of unlisted companies. 

13 APPENDIX (Page No. - 234)
     13.1 INSIGHTS OF INDUSTRY EXPERTS
     13.2 DISCUSSION GUIDE
     13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’SUBSCRIPTION PORTAL
     13.4 AVAILABLE CUSTOMIZATIONS
     13.5 RELATED REPORTS
     13.6 AUTHOR DETAILS

The study involved three major activities in estimating the current size of the global solid oxide fuel cell market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through rigorous primary research. Both top-down and bottom-up approaches were used to estimate the total market size. The market breakdown and data triangulation techniques were employed to estimate the market size of the segments and the corresponding subsegments.

Secondary Research

This research study involved the use of extensive secondary sources, directories, and databases such as power generation, hydrogen generation, automotive, industry publications, several newspaper articles, Bloomberg, Factiva, and rental associations journal to identify and collect information useful for a technical, market-oriented, and commercial study of the solid oxide fuel cell market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases. 

Primary Research

The solid oxide fuel cell market comprises several stakeholders such as companies related to the industry, consulting companies in the power sector, power generation, hydrogen generation, automotive, government & research organizations, forums, alliances & associations, solid oxide fuel cell service providers, state & national energy authorities, dealers & suppliers, and vendors. The demand side of the market is characterized by the solid oxide fuel cell expenditure across end-use sectors across global regions, investments by oil and gas and construction equipment companies, and maturing of the mining and the energy sector. Moreover, the demand is driven by a change in rules & regulations and active participation from environmental bodies in the market. The supply side is characterized by contracts & agreements, new product launches, mergers & acquisitions, and partnerships & collaborations among big players. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is given below:

Solid Oxide Fuel Cell Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the size of the global solid oxide fuel cell market and its dependent submarkets. These methods were also extensively used to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and market have been identified through extensive secondary research, and their market shares in the respective regions have been determined through both primary and secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Global Solid Oxide Fuel Cell Market Size: Bottom-Up Approach

Solid Oxide Fuel Cell Market Size, and Bottom-Up Approach

Data Triangulation

After arriving at the overall market size-using the market size estimation processes as explained above-the market was split into several segments and subsegments. To complete the entire market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the solid oxide fuel cell activities.

Report Objectives

  • To define, describe and forecast the global solid oxide fuel cell market by type, application, end-user, and regions
  • To provide detailed information regarding the major factors, such as drivers, restraints, opportunities, and industry-specific challenges, influencing the growth of the market
  • To strategically analyze the market with respect to individual growth trends, future prospects, and the contribution of each segment to the market
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • To track and analyze competitive developments such as contracts & agreements, expansions, new product launches, mergers & acquisitions, and partnerships & collaborations in the solid oxide fuel cell market

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Geographic Analysis

  • Further breakdown of region or country-specific analysis

Company Information

  • Detailed analyses and profiling of additional market players (up to 5)
Report Code
EP 2467
Published ON
Mar, 2022
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