QY Research Inc. (Global Market Report Research Publisher) announces the release of 2025 latest report “Solid Oxide Electrolysis Cell (SOEC) Technology- Global Market Share and Ranking, Overall Sales and Demand Forecast 2026-2032”. Based on current situation and impact historical analysis (2020-2024) and forecast calculations (2026-2032), this report provides a comprehensive analysis of the global Solid Oxide Electrolysis Cell (SOEC) Technology market, including market size, share, demand, industry development status, and forecasts for the next few years.
The global market for Solid Oxide Electrolysis Cell (SOEC) Technology was estimated to be worth US$ 154 million in 2024 and is forecast to a readjusted size of US$ 1682 million by 2031 with a CAGR of 37.5% during the forecast period 2025-2031.
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The global SOEC market is transitioning from demonstration to commercial scale at an exceptional pace. According to the latest QYResearch study, the market reached USD 154.14 million in 2024 and is projected to exceed USD 1.684 billion by 2031, reflecting a remarkable CAGR of 37.49% over 2025–2031. Few clean-energy technologies have shown comparable growth rates. The surge is driven by large industrial players seeking high-efficiency hydrogen pathways, increasing policy support, and growing interest in integrating SOEC systems into steelmaking, chemicals, and refining infrastructures.
Figure00001. Global Solid Oxide Electrolysis Cell (SOEC) Technology Market Size (US$ million), 2025-2031
Technology1.png)
Source: QYResearch, “Solid Oxide Electrolysis Cell (SOEC) Technology – Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031”
The competitive landscape is becoming increasingly defined. In 2024, Bloom Energy, Sunfire, Topsoe, and Ceres Power collectively accounted for 66% of global revenue. Bloom and Sunfire lead commercialization due to large-scale deployments and strong industrial partnerships. Topsoe and Ceres Power, with advanced technology and licensing-based business models, are rapidly expanding footprint without substantial manufacturing CAPEX.
Emerging companies such as SolydEra, Swift New Energy, OxEon Energy, Nexceris, and Elcogen are progressing from pilot to early commercial scale, creating a diverse and competitive ecosystem that accelerates global adoption.
Figure00002. Global Solid Oxide Electrolysis Cell (SOEC) Technology Top 10 Players Ranking and Market Share (Ranking is based on the revenue of 2024, continually updated)
Technology2.png)
Source: QYResearch, “Solid Oxide Electrolysis Cell (SOEC) Technology – Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031”
Standard water electrolysis remains the dominant segment. Growing from USD 145.73 million in 2024 to USD 1.46 billion by 2031, it benefits from better technological maturity, easier integration into existing plants, and clearer scaling pathways. However, the co-electrolysis segment—which processes H₂O and CO₂ simultaneously to produce syngas—is emerging as one of the most strategically valuable submarkets. Although still small at USD 8.41 million in 2024, its 52.42% CAGR through 2031 highlights its long-term potential in carbon utilization, synthetic fuel production, and chemical synthesis. Co-electrolysis could become a crucial technology pillar for industries aiming to create circular carbon loops.
Figure00003. Solid Oxide Electrolysis Cell (SOEC) Technology, Global Market Size, Split by Product Segment
Technology3.png)
Source: QYResearch, “Solid Oxide Electrolysis Cell (SOEC) Technology – Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031”
From an application perspective, industrial hydrogen production dominates, rising from USD 108.83 million in 2024 to USD 1.21 billion in 2031. Industrial sectors—refining, ammonia, methanol, steel—are prioritizing SOEC because of its ability to leverage internal waste heat and deliver superior efficiency. Meanwhile, Energy & Power applications such as renewable integration, grid balancing, and long-duration energy storage will climb to USD 314.10 million by 2031, demonstrating SOEC’s versatility beyond pure hydrogen production.
Solid Oxide Electrolysis Cell (SOEC) Technology stands at the forefront of next-generation hydrogen production. Standard water electrolysis will remain the backbone of the market, while co-electrolysis will rise rapidly due to its dual climate and industrial value. With unprecedented growth, accelerating commercialization, and alignment with global net-zero objectives, SOEC is evolving into a core enabling technology for large-scale green hydrogen, carbon recycling, and deep industrial decarbonization.
The report provides a detailed analysis of the market size, growth potential, and key trends for each segment. Through detailed analysis, industry players can identify profit opportunities, develop strategies for specific customer segments, and allocate resources effectively.
The Solid Oxide Electrolysis Cell (SOEC) Technology market is segmented as below:
By Company
Bloom Energy
Sunfire
Topsoe
Ceres Power
Fuel Cell Energy
Elcogen
SolydEra
Swift New Energy
Nexceris
OxEon Energy
Segment by Type
Oxygen Ion Conduction Type (O-SOEC)
Proton Conduction Type (H-SOEC)
Segment by Application
Renewable Energy Generation
Industrial Hydrogen Oroduction
CO2 Emission Reduction
Others
Each chapter of the report provides detailed information for readers to further understand the Solid Oxide Electrolysis Cell (SOEC) Technology market:
Chapter 1: Introduces the report scope of the Solid Oxide Electrolysis Cell (SOEC) Technology report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry. (2021-2032)
Chapter 2: Detailed analysis of Solid Oxide Electrolysis Cell (SOEC) Technology manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc. (2021-2026)
Chapter 3: Provides the analysis of various Solid Oxide Electrolysis Cell (SOEC) Technology 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. (2021-2032)
Chapter 4: 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.(2021-2032)
Chapter 5: Sales, revenue of Solid Oxide Electrolysis Cell (SOEC) Technology in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world..(2021-2032)
Chapter 6: Sales, revenue of Solid Oxide Electrolysis Cell (SOEC) Technology in country level. It provides sigmate data by Type, and by Application for each country/region.(2021-2032)
Chapter 7: 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. (2021-2026)
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
Benefits of purchasing QYResearch report:
Competitive Analysis: QYResearch provides in-depth Solid Oxide Electrolysis Cell (SOEC) Technology competitive analysis, including information on key company profiles, new entrants, acquisitions, mergers, large market shear, opportunities, and challenges. These analyses provide clients with a comprehensive understanding of market conditions and competitive dynamics, enabling them to develop effective market strategies and maintain their competitive edge.
Industry Analysis: QYResearch provides Solid Oxide Electrolysis Cell (SOEC) Technology comprehensive industry data and trend analysis, including raw material analysis, market application analysis, product type analysis, market demand analysis, market supply analysis, downstream market analysis, and supply chain analysis.
and trend analysis. These analyses help clients understand the direction of industry development and make informed business decisions.
Market Size: QYResearch provides Solid Oxide Electrolysis Cell (SOEC) Technology market size analysis, including capacity, production, sales, production value, price, cost, and profit analysis. This data helps clients understand market size and development potential, and is an important reference for business development.
Other relevant reports of QYResearch:
Global Solid Oxide Electrolysis Cell (SOEC) Technology Sales Market Report, Competitive Analysis and Regional Opportunities 2025-2031
Global Solid Oxide Electrolysis Cell (SOEC) Technology Market Outlook, In Depth Analysis & Forecast to 2031
Global Solid Oxide Electrolysis Cell (SOEC) Technology Market Research Report 2025
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