Solid Oxide Electrolyzer Cell (SOEC) Market was valued at USD 0.5 Billion in 2022 and is projected to reach USD 1.5 Billion by 2030, growing at a CAGR of 18.2% from 2024 to 2030.
The Solid Oxide Electrolyzer Cell (SOEC) market was valued at approximately USD 100 million in 2022 and is projected to grow at a robust Compound Annual Growth Rate (CAGR) of 25% from 2022 to 2030. This growth is primarily driven by the increasing global demand for efficient hydrogen production technologies, as industries shift towards decarbonization and renewable energy sources. SOEC technology's high efficiency in converting electricity to hydrogen compared to other electrolysis methods is propelling its adoption in industries such as energy storage, fuel cells, and chemical production. Furthermore, rising government initiatives supporting green hydrogen production are expected to significantly boost market growth during the forecast period.
Emerging markets in regions such as Asia-Pacific and Europe are offering significant growth opportunities for the SOEC market. Countries like China, Japan, and Germany are leading the adoption of hydrogen technologies, driven by stringent carbon emission regulations and large-scale investments in renewable energy infrastructure. Additionally, advancements in SOEC technology and the development of cost-effective production methods are opening up new opportunities for market participants. The commercialization of SOEC systems in heavy industries such as steel production, ammonia synthesis, and energy-intensive sectors is anticipated to further expand market demand in the coming years.
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Sunfire GmbH
Siemens Energy
ITM Power
Ceres Power
Elcogen
Kyocera Corporation
NextCell
FuelCell Energy
Bloom Energy
Hexis AG
Toshiba
Versa Power Systems
KERAFOL Keramische Folien GmbH
TDK Electronics AG
Staxera
GreenHydrogen
Plansee SE
IHT Industrie Haute Technologie
Nexceris
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Solid Oxide Electrolyzer Cell (SOEC) Market
Hydrogen Production
Energy Storage
Chemical Production
Steel Production
Carbon Capture
Others
Based on Types the Market is categorized into Below types that held the largest Solid Oxide Electrolyzer Cell (SOEC) market share In 2023.
Planar SOECs
Tubular SOECs
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Solid Oxide Electrolyzer Cell (SOEC) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Solid Oxide Electrolyzer Cell (SOEC) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Solid Oxide Electrolyzer Cell (SOEC) Market, By Type
6. Global Solid Oxide Electrolyzer Cell (SOEC) Market, By Application
7. Global Solid Oxide Electrolyzer Cell (SOEC) Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Solid Oxide Electrolyzer Cell (SOEC) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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