Solid Oxide Fuel Cell (SOFC) Market to Record CAGR of 25.72% Over 2025-2032; Bloom Energy Partnered with American Electric Power to Supply up to 1 Gigawatt (GW) of Fuel Cells

The global Solid Oxide Fuel Cell (SOFC) market size was valued at USD 2.04 billion in 2024 and is predicted to reach USD 2.53 billion in 2025. The market is anticipated to touch USD 12.55 billion by 2032, recording a CAGR of 25.72% over 2025-2032.

Fortune Business Insights™ presents this information in its report titled “Solid Oxide Fuel Cell (SOFC) Market Size, Share & Industry Analysis, By Application (Stationary, Transport, and Portable), By End-User (Commercial, Data Centers, Military & Defence, and Others), and Regional Forecast, 2025-2032”

Solid Oxide Fuel Cells (SOFCs) are innovative devices that effectively transform fuel into electricity. They operate at high temperatures ranging from 500 to 1,000°C. The SOFC market is expected to witness significant expansion, fueled by the rising need for decentralized energy production, improvements in ceramic materials technology, and worldwide investments that support the shift toward sustainable energy options.

The COVID-19 pandemic had a considerable impact on the Solid Oxide Fuel Cell (SOFC) market, leading to a decline in manufacturing capacities by 40-55% and a 35% reduction in research and development funding. Global lockdowns and supply chain challenges resulted in delays and cancellations of projects related to SOFC.

Bloom Energy Partnered with American Electric Power to Supply up to 1 Gigawatt (GW) of Fuel Cells

In November 2024, Bloom Energy made a deal with American Electric Power (AEP) to supply up to 1 gigawatt (GW) of fuel cells, representing the largest commercial acquisition of fuel cells worldwide. AEP made an initial commitment for an order of 100 megawatts (MW), with more orders anticipated in 2025. This agreement builds on Bloom's current work with AEP to use solid oxide fuel cells (SOFCs) in commercial and industrial settings.

Implementation of Mandates and Investments in Clean Energy Technologies to Spur Market Growth

Governments and organizations around the globe are prioritizing clean energy technologies by implementing mandates and making significant investments to address climate change. Solid oxide fuel cells stand out for their exceptional efficiency compared to traditional energy conversion systems, making them highly appealing to industries with high energy demands. The rising need to curb carbon emissions has spurred increased research and funding for SOFC technologies, driving innovations that are lowering costs and enhancing performance.

However, the substantial initial manufacturing costs and the notable rise in ongoing expenses associated with fuel cell systems are anticipated to hinder the Solid Oxide Fuel Cell (SOFC) market growth.

Bloom Energy Stands Out as Major Player Owing to its Strong Presence in Stationary Application Sectors

The solid oxide fuel cell (SOFC) market globally includes significant players active at national and international levels, concentrating on the development of components, materials, and complete SOFC stacks for various uses. Bloom Energy emerges as a major player in this market and commands an estimated 55-65% share. The company’s dominance is due to its strong foothold in stationary application sectors.

Notable Industry Development:

• January 2024- Ceres Power and Delta Electronics entered into a long-term partnership for the licensing and production of Solid Oxide Electrolysis Cell (SOEC) and Solid Oxide Fuel Cell (SOFC) stacks. As part of this agreement, Ceres is set to earn USD 54.5 million through technology transfer, license fees, and engineering support services.

List of the Companies Profiled in the Report:

• Mitsubishi Heavy Industries (Japan)
• Bloom Energy (U.S.)
• Ceres Power (U.K.)
• Bosch (Japan)
• Convion (Finland)
• Elcogen (Estonia)
• SOLIDpower (Italy)
• Sunfire GmBH (New Enerday) (Germany)
• Catator (Sweden)
• Nexceris, LLC (U.S.)
• FuelCell Energy, Inc. (U.S.)
• Suzhou Huatsing Power Energy (China)
• AVL (Austria)
• General Electric (U.S.)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/solid-oxide-fuel-cell-market-101306

Further Report Findings

• The North America region holds a significant Solid Oxide Fuel Cell (SOFC) market share and is a rapidly advancing sector in clean energy. The region has built a strong system that combines innovative SOFC technologies with key infrastructure, including applications in data centers, emergency power systems, and reliable energy generation solutions. The U.S. market is a key player in this field, focusing on decentralized energy solutions and benefiting from strong support from the government, particularly from the Department of Energy.
• The Solid Oxide Fuel Cell (SOFC) market in Europe is transforming into a hub of innovation driven by collaborative efforts and focused decarbonization strategies. Nations such as Germany, the U.K., France, and Italy are expected to lead the regional market due to their well-established infrastructure and aligned government objectives.
• In terms of application, the stationary segment secures the leading position in the global market. This segment is expected to maintain its leadership position throughout the forecast period, which is driven by factors such as ongoing advancements in technology, improved efficiency, and strong governmental backing.

Table of Segmentation