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According to the research report, the global market for SOEC should grow from US$ 34 million in 2022 to US$ 994.3 million by 2029, with a CAGR of 62.5% for the period of 2023-2029.
The key manufacturers of solid oxide electrolyzer (SOEC) include Sunfire GmbH, Topsoe, OxEon Energy, Ceres, Elcogen, FuelCell Energy, Egen Energy, etc. Sunfire GmbH is the world's largest manufacturer with a market share of about 50%.
Europe is the biggest market, accounting for about 52%. It is followed by North America, with about 24%. The market share in Europe and China is expected to increase further.
SOEC is mainly divided into Oxygen Ion Conducting and Proton Conducting. Oxygen Ion Conducting has a dominant market share of about 95%.
SOEC is mainly used in chemicals and refineries, power plants, steel plants and other factories. It is most widely used in chemical and refineries, accounting for about 50% of all downstream industries.
A solid oxide electrolyzer cell (SOEC) is a solid oxide fuel cell that runs in regenerative mode to achieve the electrolysis of water (and/or carbon dioxide) by using a solid oxide, or ceramic, electrolyte to produce hydrogen gas (and/or carbon monoxide) and oxygen. The production of pure hydrogen is compelling because it is a clean fuel that can be stored, making it a potential alternative to batteries, methane, and other energy sources (see hydrogen economy). Electrolysis is currently the most promising method of hydrogen production from water due to high efficiency of conversion and relatively low required energy input when compared to thermochemical and photocatalytic methods.
This report aims to provide a comprehensive study of the global market for SOEC. Key Takeaways and Highlights
(1) Global SOEC market size (value), history data from 2018-2022 and forecast data from 2023 to 2029.
(2) Global SOEC market competitive situation, revenue and market share, from 2018 to 2022.
(3) China SOEC market competitive situation, revenue and market share, from 2018 to 2022.
(4) Global SOEC segment by region (or country), key regions cover the United States, Europe, Japan, South Korea, Southeast Asia and India, etc.
(5) Global SOEC segment by type and by application and regional segment by type and by application.
(6) SOEC industry supply chain, upstream, midstream and downstream analysis.
Regional Breakdown: Analyzing Market Segments by Geography
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia, Italy and Rest of Europe)
Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Australia and Rest of Asia-Pacific)
South America (Brazil, Rest of South America)
Middle East & Africa
Segmenting by Type: Comprehensive Coverage and Analysis
Oxygen Ion Conducting
Proton Conducting
Application-Based Segmentation: Unlocking Market Opportunities
Chemicals and Refineries
Power Plants
Steel Plant
Others
In the Spotlight: A Closer Look at Market Players
Sunfire GmbH
Topsoe
OxEon Energy
Ceres
Elcogen
FuelCell Energy
Egen Energy
1 Market Overview
1.1 Product Overview and Scope of SOEC
1.2 Global SOEC Market Size and Forecast
1.3 China SOEC Market Size and Forecast
1.4 China Market Percentage in Global
1.4.1 By Revenue, China SOEC Share in Global Market, 2018-2029
1.4.2 SOEC Market Size: China VS Global, 2018-2029
1.5 SOEC Market Dynamics
1.5.1 SOEC Market Drivers
1.5.2 SOEC Market Restraints
1.5.3 SOEC Industry Trends
1.5.4 SOEC Industry Policy
2 Global Competitive Situation by Company
2.1 Global SOEC Revenue by Company (2018-2023)
2.2 Global SOEC Participants, Market Position (Tier 1, Tier 2 and Tier 3)
2.3 Global SOEC Concentration Ratio
2.4 Global SOEC Mergers & Acquisitions, Expansion Plans
2.5 Global SOEC Manufacturers Product Type
3 China Competitive Situation by Company
3.1 China SOEC Revenue by Company (2018-2023)
3.2 China SOEC SOEC Participants, Market Position (Tier 1, Tier 2 and Tier 3)
3.3 China SOEC, Revenue Percentage of Local Players VS Foreign Manufacturers (2018-2023)
4 Industry Chain Analysis
4.1 SOEC Industry Chain
4.2 SOEC Upstream Analysis
4.3 SOEC Midstream Analysis
4.4 SOEC Downstream Analysis
5 Sights by Type
5.1 SOEC Classification
5.1.1 Oxygen Ion Conducting
5.1.2 Proton Conducting
5.2 By Type, Global SOEC Market Size & CAGR, 2018 VS 2022 VS 2029
5.3 By Type, Global SOEC Revenue, 2018-2029
6 Sights by Application
6.1 SOEC Segment by Application
6.1.1 Chemicals and Refineries
6.1.2 Power Plants
6.1.3 Steel Plant
6.1.4 Others
6.2 By Application, Global SOEC Market Size & CAGR, 2018 VS 2022 VS 2029
6.3 By Application, Global SOEC Revenue, 2018-2029
7 Sales Sights by Region
7.1 By Region, Global SOEC Market Size, 2018 VS 2022 VS 2029
7.2 By Region, Global SOEC Market Size, 2018-2029
7.3 North America
7.3.1 North America SOEC Market Size & Forecasts, 2018-2029
7.3.2 By Country, North America SOEC Market Size Market Share
7.4 Europe
7.4.1 Europe SOEC Market Size & Forecasts, 2018-2029
7.4.2 By Country, Europe SOEC Market Size Market Share
7.5 Asia Pacific
7.5.1 Asia Pacific SOEC Market Size & Forecasts, 2018-2029
7.5.2 By Country/Region, Asia Pacific SOEC Market Size Market Share
7.6 South America
7.6.1 South America SOEC Market Size & Forecasts, 2018-2029
7.6.2 By Country, South America SOEC Market Size Market Share
7.7 Middle East & Africa
8 Sights by Country Level
8.1 By Country, Global SOEC Market Size & CAGR,2018 VS 2022 VS 2029
8.2 By Country, Global SOEC Market Size, 2018-2029
8.3 U.S.
8.3.1 U.S. SOEC Market Size, 2018-2029
8.3.2 By Company, U.S. SOEC Revenue Market Share, 2018-2023
8.3.3 By Type, U.S. SOEC Revenue Market Share, 2022 VS 2029
8.3.4 By Application, U.S. SOEC Revenue Market Share, 2022 VS 2029
8.4 Europe
8.4.1 Europe SOEC Market Size, 2018-2029
8.4.2 By Company, Europe SOEC Revenue Market Share, 2018-2023
8.4.3 By Type, Europe SOEC Revenue Market Share, 2022 VS 2029
8.4.4 By Application, Europe SOEC Revenue Market Share, 2022 VS 2029
8.5 China
8.5.1 China SOEC Market Size, 2018-2029
8.5.2 By Company, China SOEC Revenue Market Share, 2018-2023
8.5.3 By Type, China SOEC Revenue Market Share, 2022 VS 2029
8.5.4 By Application, China SOEC Revenue Market Share, 2022 VS 2029
8.6 Japan
8.6.1 Japan SOEC Market Size, 2018-2029
8.6.2 By Company, Japan SOEC Revenue Market Share, 2018-2023
8.6.3 By Type, Japan SOEC Revenue Market Share, 2022 VS 2029
8.6.4 By Application, Japan SOEC Revenue Market Share, 2022 VS 2029
8.7 South Korea
8.7.1 South Korea SOEC Market Size, 2018-2029
8.7.2 By Company, South Korea SOEC Revenue Market Share, 2018-2023
8.7.3 By Type, South Korea SOEC Revenue Market Share, 2022 VS 2029
8.7.4 By Application, South Korea SOEC Revenue Market Share, 2022 VS 2029
8.8 Southeast Asia
8.8.1 Southeast Asia SOEC Market Size, 2018-2029
8.8.2 By Company, Southeast Asia SOEC Revenue Market Share, 2018-2023
8.8.3 By Type, Southeast Asia SOEC Revenue Market Share, 2022 VS 2029
8.8.4 By Application, Southeast Asia SOEC Revenue Market Share, 2022 VS 2029
8.9 India
8.9.1 India SOEC Market Size, 2018-2029
8.9.2 By Company, India SOEC Revenue Market Share, 2018-2023
8.9.3 By Type, India SOEC Revenue Market Share, 2022 VS 2029
8.9.4 By Application, India SOEC Revenue Market Share, 2022 VS 2029
8.10 Middle East & Asia
8.10.1 Middle East & Asia SOEC Market Size, 2018-2029
8.10.2 By Company, Middle East & Asia SOEC Revenue Market Share, 2018-2023
8.10.3 By Type, Middle East & Asia SOEC Revenue Market Share, 2022 VS 2029
8.10.4 By Application, Middle East & Asia SOEC Revenue Market Share, 2022 VS 2029
9 Global Manufacturers Profile
9.1 Sunfire GmbH
9.1.1 Sunfire GmbH Company Information, Head Office, Market Area and Industry Position
9.1.2 Sunfire GmbH Company Profile and Main Business
9.1.3 Sunfire GmbH SOEC Models, Specifications and Application
9.1.4 Sunfire GmbH SOEC Revenue and Gross Margin, 2018-2023
9.1.5 Sunfire GmbH Recent Developments
9.2 Topsoe
9.2.1 Topsoe Company Information, Head Office, Market Area and Industry Position
9.2.2 Topsoe Company Profile and Main Business
9.2.3 Topsoe SOEC Models, Specifications and Application
9.2.4 Topsoe SOEC Revenue and Gross Margin, 2018-2023
9.2.5 Topsoe Recent Developments
9.3 OxEon Energy
9.3.1 OxEon Energy Company Information, Head Office, Market Area and Industry Position
9.3.2 OxEon Energy Company Profile and Main Business
9.3.3 OxEon Energy SOEC Models, Specifications and Application
9.3.4 OxEon Energy SOEC Revenue and Gross Margin, 2018-2023
9.3.5 OxEon Energy Recent Developments
9.4 Ceres
9.4.1 Ceres Company Information, Head Office, Market Area and Industry Position
9.4.2 Ceres Company Profile and Main Business
9.4.3 Ceres SOEC Models, Specifications and Application
9.4.4 Ceres SOEC Revenue and Gross Margin, 2018-2023
9.4.5 Ceres Recent Developments
9.5 Elcogen
9.5.1 Elcogen Company Information, Head Office, Market Area and Industry Position
9.5.2 Elcogen Company Profile and Main Business
9.5.3 Elcogen SOEC Models, Specifications and Application
9.5.4 Elcogen SOEC Revenue and Gross Margin, 2018-2023
9.5.5 Elcogen Recent Developments
9.6 FuelCell Energy
9.6.1 FuelCell Energy Company Information, Head Office, Market Area and Industry Position
9.6.2 FuelCell Energy Company Profile and Main Business
9.6.3 FuelCell Energy SOEC Models, Specifications and Application
9.6.4 FuelCell Energy SOEC Revenue and Gross Margin, 2018-2023
9.6.5 FuelCell Energy Recent Developments
9.7 Egen Energy
9.7.1 Egen Energy Company Information, Head Office, Market Area and Industry Position
9.7.2 Egen Energy Company Profile and Main Business
9.7.3 Egen Energy SOEC Models, Specifications and Application
9.7.4 Egen Energy SOEC Revenue and Gross Margin, 2018-2023
9.7.5 Egen Energy Recent Developments
10 Conclusion
11 Appendix
11.1 Research Methodology
11.2 Data Source
11.2.1 Secondary Sources
11.2.2 Primary Sources
11.3 Market Estimation Model
11.4 Disclaimer
Tables & Figures:
Table 1. SOEC Market Size & CAGR: China VS Global, (US$ Million), 2018-2029
Table 2. SOEC Market Restraints
Table 3. SOEC Market Trends
Table 4. SOEC Industry Policy
Table 5. Global SOEC Revenue by Company (2018-2023) & (US$ million)
Table 6. Global SOEC Revenue Market Share by Company (2018-2023)
Table 7. Global SOEC Manufacturers Market Concentration Ratio (CR3 and HHI)
Table 8. Global SOEC Mergers & Acquisitions, Expansion Plans
Table 9. Global SOEC Manufacturers Product Type
Table 10. China SOEC Revenue by Company (2018-2023) & (US$ million)
Table 11. China SOEC Revenue Market Share by Company (2018-2023)
Table 12. Global Key Players of SOEC Upstream (Raw Materials)
Table 13. Global SOEC Typical Customers
Table 14. SOEC Typical Distributors
Table 15. By Type, Global SOEC Revenue & CAGR, 2018 VS 2022 VS 2029, US$ Million
Table 16. By Application, Global SOEC Revenue & CAGR, 2018 VS 2022 VS 2029, US$ Million
Table 17. By Region, Global SOEC Market Size, 2018 VS 2022 VS 2029, US$ Million
Table 18. By Region, Global SOEC Revenue, 2018-2029, US$ Million
Table 19. By Country, Global SOEC Revenue & CAGR,2018 VS 2022 VS 2029, US$ Million
Table 20. By Country, Global SOEC Revenue, 2018-2029, US$ Million
Table 21. By Country, Global SOEC Revenue Market Share, 2018-2029
Table 22. Sunfire GmbH Company Information, Head Office, Market Area and Industry Position
Table 23. Sunfire GmbH Company Profile and Main Business
Table 24. Sunfire GmbH SOEC Models, Specifications and Application
Table 25. Sunfire GmbH SOEC Revenue and Gross Margin, 2018-2023
Table 26. Sunfire GmbH Recent Developments
Table 27. Topsoe Company Information, Head Office, Market Area and Industry Position
Table 28. Topsoe Company Profile and Main Business
Table 29. Topsoe SOEC Models, Specifications and Application
Table 30. Topsoe SOEC Revenue and Gross Margin, 2018-2023
Table 31. Topsoe Recent Developments
Table 32. OxEon Energy Company Information, Head Office, Market Area and Industry Position
Table 33. OxEon Energy Company Profile and Main Business
Table 34. OxEon Energy SOEC Models, Specifications and Application
Table 35. OxEon Energy SOEC Revenue and Gross Margin, 2018-2023
Table 36. OxEon Energy Recent Developments
Table 37. Ceres Company Information, Head Office, Market Area and Industry Position
Table 38. Ceres Company Profile and Main Business
Table 39. Ceres SOEC Models, Specifications and Application
Table 40. Ceres SOEC Revenue and Gross Margin, 2018-2023
Table 41. Ceres Recent Developments
Table 42. Elcogen Company Information, Head Office, Market Area and Industry Position
Table 43. Elcogen Company Profile and Main Business
Table 44. Elcogen SOEC Models, Specifications and Application
Table 45. Elcogen SOEC Revenue and Gross Margin, 2018-2023
Table 46. Elcogen Recent Developments
Table 47. FuelCell Energy Company Information, Head Office, Market Area and Industry Position
Table 48. FuelCell Energy Company Profile and Main Business
Table 49. FuelCell Energy SOEC Models, Specifications and Application
Table 50. FuelCell Energy SOEC Revenue and Gross Margin, 2018-2023
Table 51. FuelCell Energy Recent Developments
Table 52. Egen Energy Company Information, Head Office, Market Area and Industry Position
Table 53. Egen Energy Company Profile and Main Business
Table 54. Egen Energy SOEC Models, Specifications and Application
Table 55. Egen Energy SOEC Revenue and Gross Margin, 2018-2023
Table 56. Egen Energy Recent Developments
List of Figure
Figure 1. SOEC Picture
Figure 2. Global SOEC Industry Market Size and Forecast (US$ million) & (2018-2029)
Figure 3. China SOEC Revenue and Forecast (US$ million) & (2018-2029)
Figure 4. 2018-2029 China SOEC Market Share of Global
Figure 5. Global SOEC Key Participants, Market Share, 2021 VS 2022 VS 2023
Figure 6. Global SOEC Market Share by Company, (Tier 1, Tier 2 and Tier 3), 2018-2023
Figure 7. China SOEC Key Participants, Market Share, 2021 VS 2022 VS 2023
Figure 8. China SOEC Revenue, Domestic VS Import Products, Proportion of China Local Players and Foreign Players, 2018-2023
Figure 9. SOEC Industry Chain
Figure 10. Oxygen Ion Conducting
Figure 11. Proton Conducting
Figure 12. By Type, Global SOEC Revenue, 2018-2029, US$ Million
Figure 13. By Type, Global SOEC Revenue Market Share, 2018-2029
Figure 14. Chemicals and Refineries
Figure 15. Power Plants
Figure 16. Steel Plant
Figure 17. Others
Figure 18. By Application, Global SOEC Revenue, 2018-2029, US$ Million
Figure 19. By Application, Global SOEC Revenue Market Share, 2018-2029
Figure 20. By Region, Global SOEC Revenue Market Share, 2018-2029
Figure 21. North America SOEC Revenue & Forecasts, 2018-2029, US$ Million
Figure 22. By Country, North America SOEC Revenue Market Share, 2018-2023
Figure 23. Europe SOEC Revenue & Forecasts, 2018-2029, US$ Million
Figure 24. By Country, Europe SOEC Revenue Market Share, 2018-2023
Figure 25. Asia Pacific SOEC Revenue & Forecasts, 2018-2029, US$ Million
Figure 26. By Country/Region, Asia Pacific SOEC Revenue Market Share, 2018-2023
Figure 27. South America SOEC Revenue & Forecasts, 2018-2029, US$ Million
Figure 28. By Country, South America SOEC Revenue Market Share, 2018-2023
Figure 29. Middle East & Africa SOEC Revenue & Forecasts, 2018-2029, US$ Million
Figure 30. U.S. SOEC Revenue, 2018-2029, (US$ Million)
Figure 31. By Company, U.S. SOEC Market Share, 2018-2023
Figure 32. By Type, U.S. SOEC Revenue Market Share, 2022 VS 2029
Figure 33. By Application, U.S. SOEC Revenue Market Share, 2022 VS 2029
Figure 34. Europe SOEC Revenue, 2018-2029, (US$ Million)
Figure 35. By Company, Europe SOEC Market Share, 2018-2023
Figure 36. By Type, Europe SOEC Revenue Market Share, 2022 VS 2029
Figure 37. By Application, Europe SOEC Revenue Market Share, 2022 VS 2029
Figure 38. China SOEC Revenue, 2018-2029, (US$ Million)
Figure 39. By Company, China SOEC Market Share, 2018-2023
Figure 40. By Type, China SOEC Revenue Market Share, 2022 VS 2029
Figure 41. By Application, China SOEC Revenue Market Share, 2022 VS 2029
Figure 42. Japan SOEC Revenue, 2018-2029, (US$ Million)
Figure 43. By Company, Japan SOEC Market Share, 2018-2023
Figure 44. By Type, Japan SOEC Revenue Market Share, 2022 VS 2029
Figure 45. By Application, Japan SOEC Revenue Market Share, 2022 VS 2029
Figure 46. South Korea SOEC Revenue, 2018-2029, (US$ Million)
Figure 47. By Company, South Korea SOEC Market Share, 2018-2023
Figure 48. By Type, South Korea SOEC Revenue Market Share, 2022 VS 2029
Figure 49. By Application, South Korea SOEC Revenue Market Share, 2022 VS 2029
Figure 50. Southeast Asia SOEC Revenue, 2018-2029, (US$ Million)
Figure 51. By Company, Southeast Asia SOEC Market Share, 2018-2023
Figure 52. By Type, Southeast Asia SOEC Revenue Market Share, 2022 VS 2029
Figure 53. By Application, Southeast Asia SOEC Revenue Market Share, 2022 VS 2029
Figure 54. India SOEC Revenue, 2018-2029, (US$ Million)
Figure 55. By Company, India SOEC Market Share, 2018-2023
Figure 56. By Type, India SOEC Revenue Market Share, 2022 VS 2029
Figure 57. By Application, India SOEC Revenue Market Share, 2022 VS 2029
Figure 58. Middle East & Asia SOEC Revenue, 2018-2029, (US$ Million)
Figure 59. By Company, Middle East & Asia SOEC Market Share, 2018-2023
Figure 60. By Type, Middle East & Asia SOEC Revenue Market Share, 2022 VS 2029
Figure 61. By Application, Middle East & Asia SOEC Revenue Market Share, 2022 VS 2029
Figure 62. Research Methodology
Figure 63. Breakdown of Primary Interviews
Figure 64. Bottom-up Approaches
Figure 65. Top-down Approaches
Research Methodology:
SOEC Market Size Estimation
To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.
Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.
Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.
We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.
Data Source
Secondary Sources
This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.
These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.
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Primary Sources
As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.
On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.
These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.
Key Data Information from Primary Sources
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