The solid oxide fuel cell market size will grow to USD 6.5 billion by 2027 from USD 1.5 billion in 2022, at a CAGR of 33.9 % during the forecast period. Government subsidies and increased R&D on fuel cell programs; fuel flexibility and increasing demand for energy-efficient power generation and stringent emission norms are the main driver for the solid oxide fuel cell market. Rapid distributed power generation applications across regions and increasing adaptivity by end users in data centers and military sectors in solid oxide fuel cell industry provide lucrative opportunities for the solid oxide fuel cell market during the forecast period
A few major players that have a wide regional presence dominate the solid oxide fuel cell market. The leading players in the solid oxide fuel cell market include Bloom Energy(US), Mitsubishi Power(Japan), Aisin Corporation (Japan), Hitachi Zosen Corporation(Japan), and Ceres (UK). Major strategies adopted by these players include product launches, acquisitions, collaborations, partnerships, sales contracts, mergers, agreements, joint ventures, expansions, and investments. Collaborations, partnerships, joint ventures, and Others were the most commonly adopted strategy from January 2017 to February 2022.
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Bloom Energy is one of the leading manufacturers of solid oxide fuel cell systems. The company develops, manufactures, and sells solid oxide fuel cells under the name Energy Servers which is the most advanced thermal electric generation technology in the market. Bloom Energy operates under 4 business segments, namely Product, Installation, Service, and Electricity. It provide solid oxide fuel cells under the Product business segment. It offers the Bloom Energy Server, a modular stack of fuel cells that produce electricity continuously on-site. It is fuel flexible and can convert natural gas, biogas, and hydrogen into electricity. Several fuel cells are combined to from a stack, and consequently a number of stacks are combined to form 50 kW power modules. These 50 Kw power modules are be arranged in various configurations to form solutions that provide hundreds of kilowatts to many tens of megawatts of power. The Energy Servers are sold through a combination of direct and indirect sales channels. Bloom Energy also works with multiple partners to generate customer leads and develop projectsBloom Energy has an operational presence in North America and Asia Pacific. Their principal manufacturing facilities are located in Newark, Delaware (US), & Sunnyvale, California (US) along with R&D facilities in Fremont, California (US), and Sunnyvale, California (US). The company also has manufacturing spaces in India, the Republic of Korea, China, Taiwan, and UAE. Some of the major customers of the company Include AT&T (US), Caltech (US), Delmarva Power & Light Company (US), Equinix (US), The Home Depot (US), Kaiser Permanente (US), and The Wonderful Company (US).
Hitachi Zosen Corporation is one of the major engineering companies which provides SOFC technology It is a power producer and supplier that is involved in the construction of biomass plants, conventional power generation plants, chemical plants, fermentation systems, and recycling systems. The company also provides operation & maintenance as well as after-sales services. Hitachi Zosen broadly operates under 3 business segments, namely Environment, Machinery and Infrastructure, and Other Businesses. The manufacturing and commercialization of SOFC systems are associated with the Environment Business Segment. The company develops power generation SOFC-based systems for the industrial and commercial sectors. Environment Business segment provides power generation plants, desalination plants, recycling facilities, water, and sewage treatment plants, etc. This segment is associated with Engineering, procurement and construction of energy-from-waste plants and stable business. Hitachi Zosen Corporation has an operational presence worldwide. Its R&D facilities are in its 2 head offices in Tokyo and Osaka. Moreover, the company owns over 90 subsidiaries globally. Hitachi’s Environmental Systems & Industrial Plants group operates 36 domestic and 23 international subsidiaries
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
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