An energy converter called a solid oxide fuel cell (SOFC) uses electrochemical reactions to produce electricity. Various energy sources are used to power it, including biogas, propane, natural gas, hydrogen, and other oxidized hydrocarbons. Planar and tubular SOFCs are frequently offered and can be either stationary or movable. 

The market worth of solid oxide fuel cells in 2021 was USD 869.71 million, and it will be worth USD 12.25 billion by 2030, growing at an 11.78% CAGR during the forecast period.

Due to the rising emphasis on discovering alternative energy sources and increased awareness of the advantages of solid oxide fuel cells, the market is expected to experience significant growth (SOFC). Due to their multiple advantages over traditional systems, solid oxide fuel cells (SOFC) have become essential as a backup power source, fueling the growth of the solid oxide fuel cells market over the projection period.

Market Dynamics


The usage of solid oxide fuel cells has expanded over the past years due to the growing demand for higher energy efficiency in connection with the production of electricity. The solid oxide fuel cell market is expanding due to rising environmental concerns, the implementation of strict emission rules globally, and increased government backing and efforts.

For the installation of fuel cells and the purchase of new energy vehicles, several governments provide subsidies. Clean energy sources have been adopted as a result of the growing global population and increased energy demand. They can provide a variety of devices with clean, effective, and dependable power generation.


The primary factor severely impeding the expansion of this business is the expense of fuel cells. The average cost of a fuel cell is about USD (32,000 to 34,000).


Fuel cells are increasingly being used in military applications and data centers. The data centers are preparing for price reductions by adopting the distributed power production method, notably the fuel cells, including SOFC that had previously shown significant growth. This is due to the consumption of enormous amounts of power.

Market Segmentation

On the basis of application, the solid oxide fuel cell market is segmented into portable, transport, and stationary.  

In 2021, the stationary segment held a significant market position with the highest revenue share of 79%. The quick rise in energy consumption across many industries is blamed for segment expansion and the desire for low-carbon substitutes for effective power generating and cogeneration facilities. One of the cleanest and most efficient heat and power production technologies is the stationary SOFC system, propelling the SOFC market expansion in this sector.

On the basis of end-user, the solid oxide fuel cell market is segmented into data centers, commercial, military, and defence, and others.

In 2021, the data centers segment ruled the market with the highest revenue share of 41%. Due to their enormous capacity, great efficiency, and capability of continuous power generation, solid oxide fuel cells are a highly effective solution for power backup and voltage variations. Data centers are broadly used in the Indian market, where the IT sector dominates employment in the private sector and is a key factor in expanding the solid oxide fuel cell business.

Regional Analysis 

In 2021, the North American region held the biggest market share at 44%. The region’s product demand is driven by strong demand for fuel cell power generation and increased research and development for hydrogen generation. The market in the United States has risen at a fantastic rate and is expanding significantly faster than the rest of the world, thanks to strong government support and strategic market emphasis. For example, the US Department of Energy (DOE) stated in September 2021 that it would provide US $ 34 million to design and manufacture small-scale SOFC systems. 

Key Players 

  • Hitachi Zosen Corporation
  • Bloom Energy
  • Mitsubishi Power
  • Aisin Seiki
  • Convion ltd
  • Kyocera Corporation
  • AVL
  • Ceres Power
  • Adelan
  • Watt fuel cell corporation
  • Adaptive Energy
  • Solid Power
  • Miura
  • ZTEK Corporation
  • h2e Power
  • Upstart power
  • Special Power Source
  • Elcogen AS
  • Sunfire

The market worth of solid oxide fuel cells in 2021 was USD 869.71 million, and it will be worth USD 12.25 billion by 2030, growing at an 11.78% CAGR during the forecast period. The growing initiatives by various research institutions to perform substantial R&D operations for developing novel SOFC technology will drive the worldwide solid oxide fuel cell (SOFC) market. One of the primary reasons driving the growth of this market will be the increasing requirement to develop and swiftly deploy green power generation technologies.