Market Overview:
An electrochemical device known as a solid oxide fuel cell is used in various industries to produce energy through fuel oxidation. Furthermore, these devices incorporate ceramic or solid metal oxides as electrolytes to channel the ions between the cell’s cathode and anode. The systems can also offer the best output when using a variety of fuels, including hydrogen, natural gas and propane, among other clean fuels, as well as blends. They are also made to endure high working temperatures. Additionally, the units mostly run on hydrogen fuel to ensure zero emissions, with the only waste being heat and water vapor.
Market Size Growth Rate:
As per the research report published by DataM Intelligence, the Solid Oxide Fuel Cell market in Europe was valued at USD YY Million in 2021; it is projected to reach USD YY Million by 2029, with growth at a CAGR of YY% over the forecast period 2022-2029. One of the main drivers of market expansion is the rise of private-public partnerships. The ability of solid oxide fuel cells (SOFC) to produce electricity using a variety of fuels has led to their rapid growth as one of the alternative backup power choices. Additionally, they are environmentally friendly because their byproduct is safe, unlike other traditional methods.
Furthermore, Solid oxide technologies are important enablers for achieving the EU’s long-term climate targets. It is an efficient link between sectors: electricity, gas and heat in energy systems with a substantial percentage of renewable energy sources due to their versatility in operation as fuel cells, electrolyzers or reversible cells. Solid oxide fuel cells generate power from various fuels, including H2 and biogas. Solid oxide electrolyzers convert to steam, CO2 or both into fuels like H2 or syngas with near-100 percent efficiency in the reverse mode. Thus, the growing advanced and increasing demand for clean energy has made the government invest in the region’s SOFC-related project
Market Drivers
Solid oxide fuel cell research and development are receiving significant funding from European nations, including France and UK, for transportation and energy production. Furthermore, various key players are investing in the business to bring the latest advanced technology to the European market, creating huge future growth prospects for the product in the region.
Market Restraints
SOFC requires a much longer operating duration than other fuel cell technologies. As a high-temperature technology, SOFC takes longer to start up since they need to achieve a critical operating temperature to operate at full capacity. Additionally, the tremendous heat output of a SOFC during operation increases the necessity for effective thermal shielding, which eventually adds to the weight of the device. The main causes of SOFC’s low market share in portable and emergency power applications are those mentioned above. Low start-up time SOFC systems are still in the early stages of development.
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Market Opportunities
The European SOFC market is gaining huge market growth opportunities due to rising demand for renewable energy generation and a greater focus on reducing carbon emissions and deploying hydrogen-based Combined Heat and Power (CHP) systems. For instance, the Fuel Cells and Hydrogen Joint Undertaking (FCH JU), a European private-public collaborative R&D initiative, estimated that by 2050, hydrogen fuel would account for around 24% of total regional energy consumption.
Furthermore, various regional companies are investing in developing advanced solid oxide fuel cell technology to support the growth of renewable energy. For instance, in October 2020, Mitsubishi Power received an order to supply the first Solid Oxide Fuel Cell (SOFC) in Europe. By March 2022, the highly efficient hybrid system will be operational at the Gas- und Wärme-Institut Essen e.V. (GWI) in Essen. Flexible operation of the Hybrid-SOFC and proportionate usage of hydrogen as a fuel gas will be investigated in real-world settings, among other things. The system is financed by the state of North Rhine-Westphalia and the European Regional Development Fund as part of the research project “KWK.NRW 4.0.” (ERDF). Mitsubishi Power’s Solid Oxide Fuel Cell (Hybrid-SOFC) is a key component of the project.
COVID-19 Impact Analysis
The COVID-19 pandemic moderately impacted the Europe solid oxide fuel cell sector because of factors such as supply chain disruption, the interruption of essential end-user industries’ export and import activities and reduced product demand from the end-user side.
However, the pandemic was also a significant era that made governments understand the importance of green energy sources such as solid oxide fuel cells. During the COVID-19 period, the number of new cases globally unexpectedly increased and hospitals found themselves unable to admit all affected people. As a result, governments have been forced to construct mobile hospitals with beds. In order to provide an acceptable amount of artificial ventilation for the patient, each bed had to have ventilators. The ventilators and other electrical devices require an external power supply (including air-conditioners). Thus to overcome the power supply-demand, various companies started investing in building microgrids using the fuel cell to power hospitals, creating growth prospects for various key firms during the COVID-19 period.
Market Challenges:
Some of the operational aspects that challenge the market growth include long start-up periods and the requirement for high initial production costs due to the use of heat-resistant materials in construction. Additionally, the widespread availability of other effective fuel cell technologies, including proton-exchange membrane fuel cells (PEMFC) and phosphoric acid fuel cells (PAFC), may adversely challenge the industry landscape.
Recent Developments in the Industry:
- On February 09, 2022, Ceres Power Holdings Plc announced a three-way collaboration between Weichai Power of China and Robert Bosch GmBH of Germany to develop and manufacture solid oxide fuel cells for the Chinese market.
Market Segmentation:
As per the research analysis, Europe’s Solid Oxide Fuel Cell market is segmented by type into planar and tubular. By technology into solid oxide electrolyzer cell (SOEC), intermediate temperature solid oxide fuel cell (IT-SOFC), low-temperature solid oxide fuel cells (LT-SOFC), direct carbon fuel cell (DCFC) and others. By electrolyte type into polymer electrolyte, solid ceramic electrolyte and others. By Capacity into Less Than 20 mAh, 20-500 mAh and More than 500 mAh. By fuel into hydrogen, biogas, ethanol, methanol, propane, methane and others. By Application into stationary, transportation and portable. By end-user into power generation, residential and commercial, military, retail, data center and combined heat and power
- Polymer Electrolyte – The polymer electrolyte is used in compositions for forming new electrolytes. Ceramic electrolytes dominate most of the market; however, various polymers have been used in electrolytes for research purposes.
- Solid Ceramic Electrolyte – SOFC, which uses a ceramic electrolyte, is one of them that is gaining popularity. It has the highest efficiency of all the fuel cells since it operates at high temperatures of around 700 degrees Celsius. It can also be used to make hydrogen by steam decomposition. SOFCs use an electrolyte made of ceramic to transform the energy in a fuel into electricity through a series of electrochemical processes. The fuel cells can be stacked to power various applications with a constant supply of fuel and oxygen.
- Others- The other segments include very niche market share due to no significant applications in the industry. SOFCs utilizes electrolyte to conduct negative oxygen from the cathode to the anode. The other solid oxide fuel cells include metal oxide or liquid electrolyte materials. The materials are used in conjunction or compositions with other types of electrolytes
Geographical Classification:
According to the report, the Europe Solid Oxide Fuel Cell market is divided into the major countries, i.e., Germany, UK, France, Spain, Italy, & Rest of Europe.
Europe Industrial Gas Turbine Market:
Solid oxide technologies are important enablers for achieving the EU’s long-term climate targets. It is an efficient link between sectors: electricity, gas and heat in energy systems with a substantial percentage of renewable energy sources due to their versatility in operation as fuel cells, electrolyzers or reversible cells. Solid oxide fuel cells generate power from various fuels, including H2 and biogas. Solid oxide electrolyzers convert to steam, CO2 or both into fuels like H2 or syngas with near-100 percent efficiency in the reverse mode. Thus, the growing demand for clean energy has made the government invest in the region’s SOFC-related projects.
Furthermore, The EU’s long-term target is to cut greenhouse gas emissions by 80% to 95% by 2050, compared to 1990 levels, primarily through increasing the use of renewable energy sources in the EU’s energy systems. Solid oxide technologies (SOC: SOFC & SOE) are important enabling technologies for such integration. For instance, The EU-funded NewSOC project aims to raise the market penetration and environmental impact of solid oxide cells and stacks by improving their performance, durability and cost-competitiveness
Germany: Germany is a major player in Europe’s solid oxide fuel cell market predominately due to the rising demand for electricity and a growing shift towards clean energy sources. Germany’s energy supply has moved from a clear dominance of coal and oil to a more diverse system over the last four decades. In keeping with Germany’s energy transition goals originally deployed in the 1970s, nuclear energy is being phased out in favor of more renewables.
UK: The solid oxide fuel cell (SOFC), one of the most efficient and environmental-friendly technologies, has gained popularity in UK for generating power from hydrogen, natural gas and other renewable fuels. Growing energy demand and requirement for renewable energy source adoption are expected to fuel the growth of the SOFC in UK. Renewables currently provide more than 30% of UK’s electricity, with EU targets indicating that this will rise in the forecast period. Renewable energy will continue to be essential to the carbon-reduction strategy after 2020.
France: The European Union plans to reduce GHG emissions from the transportation sector significantly. As a result, the French government has highlighted using novel technologies, such as fuel cells to achieve these goals. In turn, the growth in a fuel cell is projected to present a big opportunity for solid oxide fuel cell producers interested in entering the industry in the forecast period.
Spain: AeH2-Spanish Hydrogen Association supports, promotes and propels the industrialization of hydrogen technology in Spain. The Spanish Hydrogen Association (AeH2) represents the hydrogen industry in the country. It brings together more than 200 members from the hydrogen value chain, including renewable energy proponents, Oil & Gas, industrial gases, transportation and other related organizations. Thus growth in the adoption of green hydrogen has improved the demand for fuel cells, thereby creating opportunities for the solid oxide fuel cell to grow in the country in the forecast period.
Italy: Italy is in a good starting position due to its active national hydrogen association, which has contributed to a National Hydrogen Mobility Plan and its present investments in hydrogen research and demonstration and infrastructure (such as refueling stations) and fleets. Italy is actively participating in the IPCEI projects White Dragon, Silver Frog, Blue Dolphin and the HyLaw project, which identified and assessed important regulatory hurdles to prioritize efforts to overcome them
Rest of Europe: The Rest of Europe includes various countries such as Norway, Netherland, Finland, Ireland and others. All the countries focus on developing advanced technologies to adopt renewable energy as a primary source by reducing fossil fuel consumption, leading to market growth opportunities for solid oxide fuel cell growth in the forecast period.
Competitive Analysis:
The major players are adopting several growth strategies such as product launches, innovative technologies, acquisitions and collaborations, contributing to the growth of Solid Oxide Fuel Cell in the Europe market. For example, in September 2021, CERES Invested in two new projects to determine the most effective ways to apply SOFC technology in a megawatt cruise ship. UK Department of Transport received the funding.
Major Companies:
Some key companies contributing to the market’s growth include Ceres Power Holdings Plc, KERAFOL Ceramic Films GmbH & Co. KG and others.
Additional Benefits Post Purchase:
1) Unlimited Analyst support for a period of 1 year.
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The Full Report has the below insights.
- The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021) and verifiable market size projections (2022-2029).
- Visualize the composition of Europe Solid Oxide Fuel Cell market segmentation by type, technology, electrolyte type, capacity, fuel, applications, end-user and country, highlighting the key commercial assets and players.
- By Type: Planar and Tubular
- By Technology: Solid Oxide Electrolyser Cell (SOEC), Intermediate Temperature Solid Oxide Fuel Cell (IT-SOFC), Low-temperature solid oxide fuel cells (LT-SOFC), Direct Carbon Fuel Cell (DCFC) and Others
- By Electrolyte Type: Polymer Electrolyte, Solid Ceramic Electrolyte and Others
- By Capacity: Less Than 20 mAh, 20-500 mAh and More than 500 mAh
- By Fuel: Hydrogen, Biogas, Ethanol, Methanol, Propane, Methane and Others
- By Application: Stationary, Transportation and Portable
- By End-User: Power Generation, Residential and Commercial, Military, Retail, Data Center and Combined Heat and Power
- By Country: U.S., Canada, Mexico
- Identify commercial opportunities in Europe Solid Oxide Fuel Cell Market by analyzing trends and co-development deals.
- The report also covers data insights on various industry forces such as porter’s five forces, regulations in each country, reimbursement scenario, technological advancements, PEST analysis and pricing analysis.
- Excel data sheet with thousands of Europe Solid Oxide Fuel Cell Market-level 4/5 segmentation data points.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
- The report will provide access to approximately 50+ market data tables, 40+ figures and close to 180 pages.
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