UK Solid Oxide Fuel Cell Market Size & Outlook, 2022-2030
UK solid oxide fuel cell market, 2018-2030 (US$M)
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UK solid oxide fuel cell market highlights
- The UK solid oxide fuel cell market generated a revenue of USD 1.6 million in 2022 and is expected to reach USD 5.7 million by 2030.
- The UK market is expected to grow at a CAGR of 17.5% 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.
Solid oxide fuel cell market data book summary
| Market revenue in 2022 | USD 1.6 million |
| Market revenue in 2030 | USD 5.7 million |
| Growth rate | 17.5% (CAGR from 2022 to 2030) |
| Largest segment | Stationary |
| Fastest growing segment | Transportation |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 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, UK accounted for 0.3% of the global solid oxide fuel cell market in 2022.
- Country-wise, Japan is expected to lead the global market in terms of revenue in 2030.
- In Europe, Germany solid oxide fuel cell market is projected to lead the regional market in terms of revenue in 2030.
- Germany is the fastest growing regional market in Europe and is projected to reach USD 206.9 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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UK 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 75% in 2022. Horizon Databook has segmented the UK solid oxide fuel cell market based on stationary, transportation, portable covering the revenue growth of each sub-segment from 2018 to 2030.
UK’s fuel cell program is currently in its nascent stage with the country’s government strengthening its alternative energy program and policies to facilitate the growth in the European market. The market dynamics of fuel cells in the UK comprises numerous political & social factors, with the effects of climate change and rising environmental issues being the dominant factors.
These factors, in turn, have led the UK government to introduce long-term frameworks such as Climate Change Bill, which was introduced on November 14, 2007. This bill was passed by the Parliament and it became an act on November 26, 2008. The act binds the secretary of state to ensure that the UK fulfills its commitments made in the Kyoto Protocol regarding GHG emissions levels in 2050. The country intends to lower its GHG emissions by 80% as compared to that in 1990, which serves as the baseline.
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Horizon Databook provides a detailed overview of country-level data and insights on the UK solid oxide fuel cell market , including forecasts for subscribers. This country databook contains high-level insights into UK solid oxide fuel cell market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK solid oxide fuel cell market size, by application, 2018-2030 (US$M)
UK Solid Oxide Fuel Cell Market Outlook Share, 2022 & 2030 (US$M)
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