Europe Solid Oxide Fuel Cell Market Size & Outlook
Europe solid oxide fuel cell market, 2018-2030 (US$M)
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Europe solid oxide fuel cell market highlights
- The Europe solid oxide fuel cell market generated a revenue of USD 56.1 million in 2022.
- The market is expected to grow at a CAGR of 23% from 2023 to 2030.
- In terms of segment, stationary was the largest revenue generating application in 2022.
- Transportation is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Germany is expected to register the highest CAGR from 2023 to 2030.
Europe data book summary
| Market revenue in 2022 | USD 56.1 million |
| Market revenue in 2030 | USD 294.9 million |
| Growth rate | 23% (CAGR from 2022 to 2030) |
| Largest segment | Stationary |
| Fastest growing segment | Transportation |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Stationary, Transportation, Portable |
| Key market players worldwide | Bloom Energy Corp Class A, Mitsubishi Corp, Cummins Inc, Ceres Power Holdings PLC, GE Aerospace, FuelCell Energy Inc, Kyocera Corp, Avalon Advanced Materials Inc, Niterra Co Ltd |
Other key industry trends
- In terms of revenue, Europe region accounted for 12.2% of the global solid oxide fuel cell market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 3,107.7 million by 2030.
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Solid Oxide Fuel Cell Market Scope
Solid Oxide Fuel Cell Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe solid oxide fuel cell market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to solid oxide fuel cell market will help companies and investors design strategic landscapes.
Stationary was the largest segment with a revenue share of 68.45% in 2022. Horizon Databook has segmented the Europe solid oxide fuel cell market based on stationary, transportation, portable covering the revenue growth of each sub-segment from 2018 to 2030.
The development and deployment of solid oxide fuel cell systems in Europe is witnessing an increase due to the projects announced by the European Commission through organizations such as Fuel Cells and Hydrogen Joint Undertaking (FCH JU). These projects have been announced with an objective to increase the adoption of fuel cells in vehicles in Europe and aid the development of supportive hydrogen infrastructure for fuel cell vehicles in major European countries.
FCH JU works on public-private partnership model and provides support for research & development activities in addition to providing grants for the implementation of fuel cell projects. Similarly, Hydrogen Europe is an organization which assists in conducting research activities and provides necessary support for the development and deployment of fuel cell projects, thus driving the growth of the solid oxide fuel cell market.
The market in Europe is driven by the PACE program, which was launched in 2016 with an intention to enhance the adoption of fuel cell systems for their utilization in micro-CHP systems in the region. Germany has emerged as the major market for SOFC in the European region owing to the implementation of supportive policies and subsidy programs for the installation of fuel cell systems in the country.
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Our clientele includes a mix of solid oxide fuel cell market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe solid oxide fuel cell market , including forecasts for subscribers. This continent databook contains high-level insights into Europe solid oxide fuel cell market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe solid oxide fuel cell market size, by country, 2018-2030 (US$M)
Europe Solid Oxide Fuel Cell Market Outlook Share, 2022 & 2030 (US$M)
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