Surge in Exploration Activities for SOEC Development Will Drive the Market

The increasing focus on research and development activities for SOECs is a significant driver of market growth. Governments, private enterprises, and academic institutions are investing heavily in exploring the potential of SOEC technology for large-scale hydrogen production and renewable energy integration. Current market trends point to a solid development trajectory for the SOEC sector, fueled by increased expenditures in clean hydrogen technologies and supporting government regulations worldwide. For example, the United States Department of Energy has spent more than $300 million to advance hydrogen generation technologies, including SOEC advances. Moreover, pilot projects and demonstration plants are expanding globally, providing valuable insights into the practical applications of SOEC technology.

For example, in July 2023, DENSO Corporation launched a pilot program to use a solid oxide electrolyzer cell (SOEC), a device developed by the company that generates green hydrogen through the electrolysis of high-temperature steam, to enhance the sustainability and power efficiency of its manufacturing operations.

Since 2004, Haldor Topsoe has been developing solid oxide cells, stacks, and systems. After three months of rigorous testing, the company unveiled the first results from their SOEC test center. In March 2024, the demonstration, which included 12 stacks and 1,200 cells, successfully operated with a combined stack power of 350 kW. This power was sustained with high stability and efficiency over 2,250 hours of operation. These results are crucial, showcasing the potential of SOEC technology to deliver exceptional efficiency and reliability at an industrial scale. As a result, the ongoing emphasis on research and development, along with pilot programs, is expected to strengthen SOECs' role in achieving global decarbonization objectives and driving market growth.

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