_Market.JPG)
Global Solid Oxide Electrolysis Cell (SOEC) Market Size is predicted to witness a 26.10% CAGR during the forecast period for 2025-2034.
SOECs are electrochemical devices that convert electrical energy into chemical energy by electrolyzing water or carbon dioxide. SOECs use solid oxide materials as electrolytes, which conduct oxygen ions at high temperatures. When an electrical current is applied across the cell, it can either electrolyze steam (H2O) into hydrogen (H2) and oxygen (O2) or reduce carbon dioxide (CO2) into carbon monoxide (CO) and oxygen (O2).
SOECs play a significant role in the development of sustainable energy and industrial processes by offering a versatile and efficient means of converting electricity into chemical energy and contributing to carbon reduction efforts. The growing demand for clean energy, as well as the growing acknowledgement of hydrogen as a clean and adaptable energy carrier, is driving demand for SOECs that can produce hydrogen via electrolysis. Due to incorporating renewable energy sources like solar and wind into power systems, energy storage and grid balancing solutions are necessary.
SOECs can efficiently convert excess renewable electricity into hydrogen, which may be stored and used when energy demand exceeds supply. This integration is driving the deployment of SOECs for renewable energy integration applications.
• Bloom Energy (U.S.)
• Sunfire GmbH (Germany)
• Haldor Topsoe (Denmark)
• Elcogen (Estonia)
• OxEon Energy (U.S.)
• Mitsubishi Power (Japan)
• Toshiba Energy Systems (Japan)
• Sylfen (France)
• Verdagy (U.S.)
• Dioxide Materials (U.S.)
• Shell (Netherlands)
• Neste (Finland)
• Air Liquide (France)
• Kerafol (Germany)
• Nexceris (U.S.)
• Hitachi Zosen (Japan)
• CNGR (China)
• Sinopec (China)
• Doosan Fuel Cell (South Korea)
• KEPCO (South Korea)
• BHEL (India)
The Solid Oxide Electrolysis Cell (SOEC) market has been dividee based on product type, application, and end-user. The market is segmented as standard planner SOECs and Tubular SOECs based on product. The application segment includes hydrogen production, industrial processes, and others. The end-user segment includes power plants, refineries, chemical industries, and others.
Over the projected period, the segment of planar SOECs is expected to have the biggest market share. This is mostly due to its commercial availability, scalability, ease of fabrication, customizable designs, and competitive performance and efficiency. Furthermore, when compared to tubular SOECs, the manufacturing procedure for planar cells is simpler, potentially leading to cheaper production costs. These qualities, along with their economic viability and cost-effectiveness, contribute to the wider usage of planar SOECs.
The hydrogen production sector is expected to have the biggest market share. SOECs (solid oxide electrolysis cells) are generally used to produce hydrogen via electrolysis of water. Hydrogen is a versatile & sustainable energy carrier with applications in transportation, energy storage, and industrial operations. SOEC-based hydrogen production is seen as a critical technology for enabling the decarbonization of sectors such as transportation and manufacturing. Because of the rising demand for hydrogen as a clean fuel and energy storage medium, the hydrogen production segment now dominates the market.
Asia Pacific is predicted to be the world's largest market region. The dominance can be due to increased demand for energy storage devices in emerging economies such as China, India, and Indonesia. These countries are experiencing significant economic expansion and rising energy demand, necessitating the development of efficient and sustainable energy solutions. The region's emphasis on clean energy development and the shift to low-carbon economies correlates with the demand for SOFC and SOEC technologies. Because of its vast customer base, favourable government regulations, and investments in renewable energy and clean technologies, Asia Pacific provides considerable market prospects.
|
Report Attribute |
Specifications |
|
Growth Rate CAGR |
CAGR of 26.10% from 2025 to 2034 |
|
Quantitative Units |
Representation of revenue in US$ Mn,and CAGR from 2025 to 2034 |
|
Historic Year |
2021 to 2024 |
|
Forecast Year |
2025-2034 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Product Type, Application, End-User |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Sunfire GmbH, Siemens Energy, ITM Power, Ceres Power, Elcogen, Kyocera Corporation, NextCell, FuelCell Energy, Bloom Energy, Hexis AG., OxEon, Energy, Hoganas AB, Nexceris, Bosch, Haldor Topsoe, FuelCell Energy, Toshiba, Redox Power Systems, Keramische Folien GmbH, Others |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Solid Oxide Electrolysis Cell (SOEC) Market Snapshot
Chapter 4. Global Solid Oxide Electrolysis Cell (SOEC) Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: By Product Type Estimates & Trend Analysis
5.1. By Product Type, & Market Share, 2024 & 2034
5.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Product Type:
5.2.1. Planar SOECs
5.2.2. Tubular SOECs
Chapter 6. Market Segmentation 2: By Application Estimates & Trend Analysis
6.1. By Application & Market Share, 2024 & 2034
6.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By Application:
6.2.1. Hydrogen Production
6.2.2. Industrial Processes
6.2.3. Others
Chapter 7. Market Segmentation 3: By End User Estimates & Trend Analysis
7.1. By End User & Market Share, 2024 & 2034
7.2. Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following By End User:
7.2.1. Power Plants
7.2.2. Refineries
7.2.3. Chemical Industry
7.2.4. Others
Chapter 8. Solid Oxide Electrolysis Cell (SOEC) Market Segmentation 4: Regional Estimates & Trend Analysis
8.1. North America
8.1.1. North America Solid Oxide Electrolysis Cell (SOEC) Market revenue (US$ Million) estimates and forecasts By Product Type, 2021-2034
8.1.2. North America Solid Oxide Electrolysis Cell (SOEC) Market revenue (US$ Million) estimates and forecasts By Application, 2021-2034
8.1.3. North America Solid Oxide Electrolysis Cell (SOEC) Market revenue (US$ Million) estimates and forecasts By End User, 2021-2034
8.1.4. North America Solid Oxide Electrolysis Cell (SOEC) Market revenue (US$ Million) estimates and forecasts by country, 2021-2034
8.2. Europe
8.2.1. Europe Solid Oxide Electrolysis Cell (SOEC) Market revenue (US$ Million) By Product Type, 2021-2034
8.2.2. Europe Solid Oxide Electrolysis Cell (SOEC) Market revenue (US$ Million) By Application, 2021-2034
8.2.3. Europe Solid Oxide Electrolysis Cell (SOEC) Market revenue (US$ Million) By End User, 2021-2034
8.2.4. Europe Solid Oxide Electrolysis Cell (SOEC) Market revenue (US$ Million) by country, 2021-2034
8.3. Asia Pacific
8.3.1. Asia Pacific Solid Oxide Electrolysis Cell (SOEC) Market revenue (US$ Million) By Product Type, 2021-2034
8.3.2. Asia Pacific Solid Oxide Electrolysis Cell (SOEC) Market revenue (US$ Million) By Application, 2021-2034
8.3.3. Asia Pacific Solid Oxide Electrolysis Cell (SOEC) Market revenue (US$ Million) By End User, 2021-2034
8.3.4. Asia Pacific Solid Oxide Electrolysis Cell (SOEC) Market revenue (US$ Million) by country, 2021-2034
8.4. Latin America
8.4.1. Latin America Solid Oxide Electrolysis Cell (SOEC) Market revenue (US$ Million) By Product Type, (US$ Million) 2021-2034
8.4.2. Latin America Solid Oxide Electrolysis Cell (SOEC) Market revenue (US$ Million) By Application, (US$ Million) 2021-2034
8.4.3. Latin America Solid Oxide Electrolysis Cell (SOEC) Market revenue (US$ Million) By End User, (US$ Million) 2021-2034
8.4.4. Latin America Solid Oxide Electrolysis Cell (SOEC) Market revenue (US$ Million) by country, 2021-2034
8.5. Middle East & Africa
8.5.1. Middle East & Africa Solid Oxide Electrolysis Cell (SOEC) Market revenue (US$ Million) By Product Type, (US$ Million) 2021-2034
8.5.2. Middle East & Africa Solid Oxide Electrolysis Cell (SOEC) Market revenue (US$ Million) By Application, (US$ Million) 2021-2034
8.5.3. Middle East & Africa Solid Oxide Electrolysis Cell (SOEC) Market revenue (US$ Million) By End User, (US$ Million) 2021-2034
8.5.4. Middle East & Africa Solid Oxide Electrolysis Cell (SOEC) Market revenue (US$ Million) by country, 2021-2034
Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles
9.2.1. Bloom Energy (U.S.)
9.2.2. Sunfire GmbH (Germany)
9.2.3. Haldor Topsoe (Denmark)
9.2.4. Elcogen (Estonia)
9.2.5. OxEon Energy (U.S.)
9.2.6. Mitsubishi Power (Japan)
9.2.7. Toshiba Energy Systems (Japan)
9.2.8. Sylfen (France)
9.2.9. Verdagy (U.S.)
9.2.10. Dioxide Materials (U.S.)
9.2.11. Shell (Netherlands)
9.2.12. Neste (Finland)
9.2.13. Air Liquide (France)
9.2.14. Kerafol (Germany
9.2.15. Nexceris (U.S.)
9.2.16. Hitachi Zosen (Japan)
9.2.17. NGR (China)
9.2.18. Sinopec (China)
9.2.19. Doosan Fuel Cell (South Korea)
9.2.20. KEPCO (South Korea)
9.2.21. BHEL (India)
9.2.22. Others
Solid Oxide Electrolysis Cell (SOEC) Market By Product Type-
Solid Oxide Electrolysis Cell (SOEC) Market By End-User Industry-
Solid Oxide Electrolysis Cell (SOEC) Market By Application-
Solid Oxide Electrolysis Cell (SOEC) Market By Electrolyte Type-
Solid Oxide Electrolysis Cell (SOEC) Market By System Size-
Solid Oxide Electrolysis Cell (SOEC) Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
