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Global SOEC Market Research Report 2025

Published Date: March 2025

Report Code: QYRE-Auto-10U14615

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Global SOEC Market Research Report 2025

Code: QYRE-Auto-10U14615

Report

March 2025

Pages:79

QYResearch

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DESCRIPTION

TABLE OF CONTENT

TABLES & FIGURES

FEATURED COMPANIES

Sunfire

Topsoe

OxEon Energy

Ceres

Elcogen

FuelCell Energy

Egen Energy

SOEC Market Size

The global market for SOEC was valued at US$ 84.4 million in the year 2024 and is projected to reach a revised size of US$ 2427 million by 2031, growing at a CAGR of 62.5% during the forecast period.

SOEC Market

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.

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.

This report aims to provide a comprehensive presentation of the global market for SOEC, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding SOEC.

The SOEC market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. This report segments the global SOEC market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.

For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

The report will help the SOEC companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.

Market Segmentation

Scope of SOEC Market Report

Report Metric	Details
Report Name	SOEC Market
Accounted market size in year	US$ 84.4 million
Forecasted market size in 2031	US$ 2427 million
CAGR	62.5%
Base Year	year
Forecasted years	2025 - 2031
Segment by Type	Oxygen Ion Conducting Proton Conducting
Segment by Application	Chemicals and Refineries Power Plants Steel Plant Others
By Region	North America (United States, Canada) Europe (Germany, France, UK, Italy, Russia) Rest of Europe Nordic Countries Asia-Pacific (China, Japan, South Korea) Southeast Asia (India, Australia) Rest of Asia Latin America (Mexico, Brazil) Rest of Latin America Middle East & Africa (Turkey, Saudi Arabia, UAE, Rest of MEA)
By Company	Sunfire GmbH, Topsoe, OxEon Energy, Ceres, Elcogen, FuelCell Energy, Egen Energy
Forecast units	USD million in value
Report coverage	Revenue and volume forecast, company share, competitive landscape, growth factors and trends

Chapter Outline

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of SOEC company competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6, 7, 8, 9, 10: North America, Europe, Asia Pacific, Latin America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 11: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 12: The main points and conclusions of the report.

FAQ for this report

How fast is SOEC Market growing?

Ans: The SOEC Market witnessing a CAGR of 62.5% during the forecast period 2025-2031.

What is the SOEC Market size in 2031?

Ans: The SOEC Market size in 2031 will be US$ 2427 million.

What is the Sunfire GmbH, Topsoe, OxEon Energy, Ceres, Elcogen, FuelCell Energy, Egen Energy, Sunfire GmbH share in SOEC Market?

Ans: 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%.

What is the SOEC Market share by region?

Ans: Europe is the biggest market, accounting for about 52%. It is followed by North America, with about 24%.

What is the SOEC Market share by type?

Ans: Oxygen Ion Conducting has a dominant market share of about 95%.

Who are the main players in the SOEC Market report?

Ans: The main players in the SOEC Market are Sunfire GmbH, Topsoe, OxEon Energy, Ceres, Elcogen, FuelCell Energy, Egen Energy

What are the Application segmentation covered in the SOEC Market report?

Ans: The Applications covered in the SOEC Market report are Chemicals and Refineries, Power Plants, Steel Plant, Others

What are the Type segmentation covered in the SOEC Market report?

Ans: The Types covered in the SOEC Market report are Oxygen Ion Conducting, Proton Conducting

Recommended Reports

Electrolyzer & Electrolysis

Fuel & Hydrogen Cells

Solid Oxide & Materials

1 Report Overview

1.1 Study Scope

1.2 Market Analysis by Type

1.2.1 Global SOEC Market Size Growth Rate by Type: 2020 VS 2024 VS 2031

1.2.2 Oxygen Ion Conducting

1.2.3 Proton Conducting

1.3 Market by Application

1.3.1 Global SOEC Market Growth by Application: 2020 VS 2024 VS 2031

1.3.2 Chemicals and Refineries

1.3.3 Power Plants

1.3.4 Steel Plant

1.3.5 Others

1.4 Assumptions and Limitations

1.5 Study Objectives

1.6 Years Considered

2 Global Growth Trends

2.1 Global SOEC Market Perspective (2020-2031)

2.2 Global SOEC Growth Trends by Region

2.2.1 Global SOEC Market Size by Region: 2020 VS 2024 VS 2031

2.2.2 SOEC Historic Market Size by Region (2020-2025)

2.2.3 SOEC Forecasted Market Size by Region (2026-2031)

2.3 SOEC Market Dynamics

2.3.1 SOEC Industry Trends

2.3.2 SOEC Market Drivers

2.3.3 SOEC Market Challenges

2.3.4 SOEC Market Restraints

3 Competition Landscape by Key Players

3.1 Global Top SOEC Players by Revenue

3.1.1 Global Top SOEC Players by Revenue (2020-2025)

3.1.2 Global SOEC Revenue Market Share by Players (2020-2025)

3.2 Global SOEC Market Share by Company Type (Tier 1, Tier 2, and Tier 3)

3.3 Global Key Players Ranking by SOEC Revenue

3.4 Global SOEC Market Concentration Ratio

3.4.1 Global SOEC Market Concentration Ratio (CR5 and HHI)

3.4.2 Global Top 10 and Top 5 Companies by SOEC Revenue in 2024

3.5 Global Key Players of SOEC Head office and Area Served

3.6 Global Key Players of SOEC, Product and Application

3.7 Global Key Players of SOEC, Date of Enter into This Industry

3.8 Mergers & Acquisitions, Expansion Plans

4 SOEC Breakdown Data by Type

4.1 Global SOEC Historic Market Size by Type (2020-2025)

4.2 Global SOEC Forecasted Market Size by Type (2026-2031)

5 SOEC Breakdown Data by Application

5.1 Global SOEC Historic Market Size by Application (2020-2025)

5.2 Global SOEC Forecasted Market Size by Application (2026-2031)

6 North America

6.1 North America SOEC Market Size (2020-2031)

6.2 North America SOEC Market Growth Rate by Country: 2020 VS 2024 VS 2031

6.3 North America SOEC Market Size by Country (2020-2025)

6.4 North America SOEC Market Size by Country (2026-2031)

6.5 United States

6.6 Canada

7 Europe

7.1 Europe SOEC Market Size (2020-2031)

7.2 Europe SOEC Market Growth Rate by Country: 2020 VS 2024 VS 2031

7.3 Europe SOEC Market Size by Country (2020-2025)

7.4 Europe SOEC Market Size by Country (2026-2031)

7.5 Germany

7.6 France

7.7 U.K.

7.8 Italy

7.9 Russia

7.10 Nordic Countries

8 Asia-Pacific

8.1 Asia-Pacific SOEC Market Size (2020-2031)

8.2 Asia-Pacific SOEC Market Growth Rate by Region: 2020 VS 2024 VS 2031

8.3 Asia-Pacific SOEC Market Size by Region (2020-2025)

8.4 Asia-Pacific SOEC Market Size by Region (2026-2031)

8.5 China

8.6 Japan

8.7 South Korea

8.8 Southeast Asia

8.9 India

8.10 Australia

9 Latin America

9.1 Latin America SOEC Market Size (2020-2031)

9.2 Latin America SOEC Market Growth Rate by Country: 2020 VS 2024 VS 2031

9.3 Latin America SOEC Market Size by Country (2020-2025)

9.4 Latin America SOEC Market Size by Country (2026-2031)

9.5 Mexico

9.6 Brazil

10 Middle East & Africa

10.1 Middle East & Africa SOEC Market Size (2020-2031)

10.2 Middle East & Africa SOEC Market Growth Rate by Country: 2020 VS 2024 VS 2031

10.3 Middle East & Africa SOEC Market Size by Country (2020-2025)

10.4 Middle East & Africa SOEC Market Size by Country (2026-2031)

10.5 Turkey

10.6 Saudi Arabia

10.7 UAE

11 Key Players Profiles

11.1 Sunfire GmbH

11.1.1 Sunfire GmbH Company Details

11.1.2 Sunfire GmbH Business Overview

11.1.3 Sunfire GmbH SOEC Introduction

11.1.4 Sunfire GmbH Revenue in SOEC Business (2020-2025)

11.1.5 Sunfire GmbH Recent Development

11.2 Topsoe

11.2.1 Topsoe Company Details

11.2.2 Topsoe Business Overview

11.2.3 Topsoe SOEC Introduction

11.2.4 Topsoe Revenue in SOEC Business (2020-2025)

11.2.5 Topsoe Recent Development

11.3 OxEon Energy

11.3.1 OxEon Energy Company Details

11.3.2 OxEon Energy Business Overview

11.3.3 OxEon Energy SOEC Introduction

11.3.4 OxEon Energy Revenue in SOEC Business (2020-2025)

11.3.5 OxEon Energy Recent Development

11.4 Ceres

11.4.1 Ceres Company Details

11.4.2 Ceres Business Overview

11.4.3 Ceres SOEC Introduction

11.4.4 Ceres Revenue in SOEC Business (2020-2025)

11.4.5 Ceres Recent Development

11.5 Elcogen

11.5.1 Elcogen Company Details

11.5.2 Elcogen Business Overview

11.5.3 Elcogen SOEC Introduction

11.5.4 Elcogen Revenue in SOEC Business (2020-2025)

11.5.5 Elcogen Recent Development

11.6 FuelCell Energy

11.6.1 FuelCell Energy Company Details

11.6.2 FuelCell Energy Business Overview

11.6.3 FuelCell Energy SOEC Introduction

11.6.4 FuelCell Energy Revenue in SOEC Business (2020-2025)

11.6.5 FuelCell Energy Recent Development

11.7 Egen Energy

11.7.1 Egen Energy Company Details

11.7.2 Egen Energy Business Overview

11.7.3 Egen Energy SOEC Introduction

11.7.4 Egen Energy Revenue in SOEC Business (2020-2025)

11.7.5 Egen Energy Recent Development

12 Analyst's Viewpoints/Conclusions

13 Appendix

13.1 Research Methodology

13.1.1 Methodology/Research Approach

13.1.1.1 Research Programs/Design

13.1.1.2 Market Size Estimation

13.1.1.3 Market Breakdown and Data Triangulation

13.1.2 Data Source

13.1.2.1 Secondary Sources

13.1.2.2 Primary Sources

13.2 Author Details

13.3 Disclaimer

FEATURED COMPANIES

Sunfire

Topsoe

OxEon Energy

Ceres

Elcogen

FuelCell Energy

Egen Energy

List of Tables

Table 1. Global SOEC Market Size Growth Rate by Type (US$ Million): 2020 VS 2024 VS 2031

Table 2. Key Players of Oxygen Ion Conducting

Table 3. Key Players of Proton Conducting

Table 4. Global SOEC Market Size Growth by Application (US$ Million): 2020 VS 2024 VS 2031

Table 5. Global SOEC Market Size by Region (US$ Million): 2020 VS 2024 VS 2031

Table 6. Global SOEC Market Size by Region (2020-2025) & (US$ Million)

Table 7. Global SOEC Market Share by Region (2020-2025)

Table 8. Global SOEC Forecasted Market Size by Region (2026-2031) & (US$ Million)

Table 9. Global SOEC Market Share by Region (2026-2031)

Table 10. SOEC Market Trends

Table 11. SOEC Market Drivers

Table 12. SOEC Market Challenges

Table 13. SOEC Market Restraints

Table 14. Global SOEC Revenue by Players (2020-2025) & (US$ Million)

Table 15. Global SOEC Market Share by Players (2020-2025)

Table 16. Global Top SOEC Players by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in SOEC as of 2024)

Table 17. Ranking of Global Top SOEC Companies by Revenue (US$ Million) in 2024

Table 18. Global 5 Largest Players Market Share by SOEC Revenue (CR5 and HHI) & (2020-2025)

Table 19. Global Key Players of SOEC, Headquarters and Area Served

Table 20. Global Key Players of SOEC, Product and Application

Table 21. Global Key Players of SOEC, Date of Enter into This Industry

Table 22. Mergers & Acquisitions, Expansion Plans

Table 23. Global SOEC Market Size by Type (2020-2025) & (US$ Million)

Table 24. Global SOEC Revenue Market Share by Type (2020-2025)

Table 25. Global SOEC Forecasted Market Size by Type (2026-2031) & (US$ Million)

Table 26. Global SOEC Revenue Market Share by Type (2026-2031)

Table 27. Global SOEC Market Size by Application (2020-2025) & (US$ Million)

Table 28. Global SOEC Revenue Market Share by Application (2020-2025)

Table 29. Global SOEC Forecasted Market Size by Application (2026-2031) & (US$ Million)

Table 30. Global SOEC Revenue Market Share by Application (2026-2031)

Table 31. North America SOEC Market Size Growth Rate by Country (US$ Million): 2020 VS 2024 VS 2031

Table 32. North America SOEC Market Size by Country (2020-2025) & (US$ Million)

Table 33. North America SOEC Market Size by Country (2026-2031) & (US$ Million)

Table 34. Europe SOEC Market Size Growth Rate by Country (US$ Million): 2020 VS 2024 VS 2031

Table 35. Europe SOEC Market Size by Country (2020-2025) & (US$ Million)

Table 36. Europe SOEC Market Size by Country (2026-2031) & (US$ Million)

Table 37. Asia-Pacific SOEC Market Size Growth Rate by Region (US$ Million): 2020 VS 2024 VS 2031

Table 38. Asia-Pacific SOEC Market Size by Region (2020-2025) & (US$ Million)

Table 39. Asia-Pacific SOEC Market Size by Region (2026-2031) & (US$ Million)

Table 40. Latin America SOEC Market Size Growth Rate by Country (US$ Million): 2020 VS 2024 VS 2031

Table 41. Latin America SOEC Market Size by Country (2020-2025) & (US$ Million)

Table 42. Latin America SOEC Market Size by Country (2026-2031) & (US$ Million)

Table 43. Middle East & Africa SOEC Market Size Growth Rate by Country (US$ Million): 2020 VS 2024 VS 2031

Table 44. Middle East & Africa SOEC Market Size by Country (2020-2025) & (US$ Million)

Table 45. Middle East & Africa SOEC Market Size by Country (2026-2031) & (US$ Million)

Table 46. Sunfire GmbH Company Details

Table 47. Sunfire GmbH Business Overview

Table 48. Sunfire GmbH SOEC Product

Table 49. Sunfire GmbH Revenue in SOEC Business (2020-2025) & (US$ Million)

Table 50. Sunfire GmbH Recent Development

Table 51. Topsoe Company Details

Table 52. Topsoe Business Overview

Table 53. Topsoe SOEC Product

Table 54. Topsoe Revenue in SOEC Business (2020-2025) & (US$ Million)

Table 55. Topsoe Recent Development

Table 56. OxEon Energy Company Details

Table 57. OxEon Energy Business Overview

Table 58. OxEon Energy SOEC Product

Table 59. OxEon Energy Revenue in SOEC Business (2020-2025) & (US$ Million)

Table 60. OxEon Energy Recent Development

Table 61. Ceres Company Details

Table 62. Ceres Business Overview

Table 63. Ceres SOEC Product

Table 64. Ceres Revenue in SOEC Business (2020-2025) & (US$ Million)

Table 65. Ceres Recent Development

Table 66. Elcogen Company Details

Table 67. Elcogen Business Overview

Table 68. Elcogen SOEC Product

Table 69. Elcogen Revenue in SOEC Business (2020-2025) & (US$ Million)

Table 70. Elcogen Recent Development

Table 71. FuelCell Energy Company Details

Table 72. FuelCell Energy Business Overview

Table 73. FuelCell Energy SOEC Product

Table 74. FuelCell Energy Revenue in SOEC Business (2020-2025) & (US$ Million)

Table 75. FuelCell Energy Recent Development

Table 76. Egen Energy Company Details

Table 77. Egen Energy Business Overview

Table 78. Egen Energy SOEC Product

Table 79. Egen Energy Revenue in SOEC Business (2020-2025) & (US$ Million)

Table 80. Egen Energy Recent Development

Table 81. Research Programs/Design for This Report

Table 82. Key Data Information from Secondary Sources

Table 83. Key Data Information from Primary Sources

Table 84. Authors List of This Report

List of Figures

Figure 1. SOEC Picture

Figure 2. Global SOEC Market Size Comparison by Type (2020-2031) & (US$ Million)

Figure 3. Global SOEC Market Share by Type: 2024 VS 2031

Figure 4. Oxygen Ion Conducting Features

Figure 5. Proton Conducting Features

Figure 6. Global SOEC Market Size by Application (2020-2031) & (US$ Million)

Figure 7. Global SOEC Market Share by Application: 2024 VS 2031

Figure 8. Chemicals and Refineries Case Studies

Figure 9. Power Plants Case Studies

Figure 10. Steel Plant Case Studies

Figure 11. Others Case Studies

Figure 12. SOEC Report Years Considered

Figure 13. Global SOEC Market Size (US$ Million), Year-over-Year: 2020-2031

Figure 14. Global SOEC Market Size, (US$ Million), 2020 VS 2024 VS 2031

Figure 15. Global SOEC Market Share by Region: 2024 VS 2031

Figure 16. Global SOEC Market Share by Players in 2024

Figure 17. Global Top SOEC Players by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in SOEC as of 2024)

Figure 18. The Top 10 and 5 Players Market Share by SOEC Revenue in 2024

Figure 19. North America SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 20. North America SOEC Market Share by Country (2020-2031)

Figure 21. United States SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 22. Canada SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 23. Europe SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 24. Europe SOEC Market Share by Country (2020-2031)

Figure 25. Germany SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 26. France SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 27. U.K. SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 28. Italy SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 29. Russia SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 30. Nordic Countries SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 31. Asia-Pacific SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 32. Asia-Pacific SOEC Market Share by Region (2020-2031)

Figure 33. China SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 34. Japan SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 35. South Korea SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 36. Southeast Asia SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 37. India SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 38. Australia SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 39. Latin America SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 40. Latin America SOEC Market Share by Country (2020-2031)

Figure 41. Mexico SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 42. Brazil SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 43. Middle East & Africa SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 44. Middle East & Africa SOEC Market Share by Country (2020-2031)

Figure 45. Turkey SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 46. Saudi Arabia SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 47. UAE SOEC Market Size YoY Growth (2020-2031) & (US$ Million)

Figure 48. Sunfire GmbH Revenue Growth Rate in SOEC Business (2020-2025)

Figure 49. Topsoe Revenue Growth Rate in SOEC Business (2020-2025)

Figure 50. OxEon Energy Revenue Growth Rate in SOEC Business (2020-2025)

Figure 51. Ceres Revenue Growth Rate in SOEC Business (2020-2025)

Figure 52. Elcogen Revenue Growth Rate in SOEC Business (2020-2025)

Figure 53. FuelCell Energy Revenue Growth Rate in SOEC Business (2020-2025)

Figure 54. Egen Energy Revenue Growth Rate in SOEC Business (2020-2025)

Figure 55. Bottom-up and Top-down Approaches for This Report

Figure 56. Data Triangulation

Figure 57. Key Executives Interviewed

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