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			       1	INTRODUCTION	29
1.1	STUDY OBJECTIVES	29
1.2	MARKET DEFINITION	29
1.3	INCLUSIONS AND EXCLUSIONS	30
1.3.1	OFFSHORE WIND MARKET, BY COMPONENT: INCLUSIONS AND EXCLUSIONS	30
1.3.2	OFFSHORE WIND MARKET, BY LOCATION: INCLUSIONS AND EXCLUSIONS	30
1.4	STUDY SCOPE	30
1.4.1	MARKETS COVERED	30
1.4.2	REGIONAL SCOPE	31
1.4.3	YEARS CONSIDERED	31
1.5	CURRENCY	32
1.6	LIMITATIONS	32
1.7	STAKEHOLDERS	32
1.8	SUMMARY OF CHANGES	33
2	RESEARCH METHODOLOGY	34
2.1	RESEARCH DATA	34
FIGURE 1	OFFSHORE WIND MARKET: RESEARCH DESIGN	34
2.2	MARKET BREAKDOWN AND DATA TRIANGULATION	35
FIGURE 2	DATA TRIANGULATION METHODOLOGY	35
2.2.1	SECONDARY DATA	36
2.2.1.1	Key data from secondary sources	36
2.2.2	PRIMARY DATA	37
2.2.2.1	Key data from primary sources	37
2.2.2.2	Breakdown of primaries	37
FIGURE 3	BREAKDOWN OF PRIMARIES	38
2.3	IMPACT OF COVID-19	38
2.4	MARKET SIZE ESTIMATION	38
2.4.1	BOTTOM-UP APPROACH	39
FIGURE 4	MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH	39
2.4.2	TOP-DOWN APPROACH	40
FIGURE 5	MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH	40
2.4.3	DEMAND SIDE ANALYSIS	41
FIGURE 6	MAIN METRICS CONSIDERED WHILE ANALYZING AND ASSESSING DEMAND  FOR OFFSHORE WIND	41
2.4.3.1	Demand side calculation	41
2.4.3.2	Assumptions for demand side analysis	42
2.4.4	SUPPLY SIDE ANALYSIS	42
FIGURE 7	MAIN METRICS CONSIDERED IN ASSESSING SUPPLY FOR OFFSHORE WIND	42
FIGURE 8	OFFSHORE WIND MARKET: SUPPLY SIDE ANALYSIS	43
2.4.4.1	Supply side calculation	43
2.4.4.2	Assumptions for supply side	43
2.4.5	FORECAST	43
3	EXECUTIVE SUMMARY	44
TABLE 1	SNAPSHOT OF OFFSHORE WIND MARKET	45
FIGURE 9	TURBINES SEGMENT TO ACCOUNT FOR LARGEST SHARE OF OFFSHORE 
WIND MARKET, BY COMPONENT, DURING FORECAST PERIOD	45
FIGURE 10	NACELLE TO HOLD LARGEST SHARE OF OFFSHORE WIND MARKET FOR TURBINES, BY MODULE, DURING FORECAST PERIOD	46
FIGURE 11	MONOPILE SEGMENT TO ACCOUNT FOR LARGEST SHARE OF OFFSHORE WIND MARKET, BY SUBSTRUCTURE, DURING FORECAST PERIOD	46
FIGURE 12	SUBSTATION SEGMENT TO ACCOUNT FOR LARGER SHARE OF 
OFFSHORE WIND MARKET, BY ELECTRICAL INFRASTRUCTURE, DURING FORECAST PERIOD	47
FIGURE 13	SHALLOW WATER SEGMENT TO ACCOUNT FOR LARGEST SHARE OF OFFSHORE WIND MARKET, BY LOCATION, DURING FORECAST PERIOD	47
FIGURE 14	NORTH AMERICA OFFSHORE WIND MARKET TO EXHIBIT HIGHEST CAGR  DURING 2021–2026	48
4	PREMIUM INSIGHTS	49
4.1	ATTRACTIVE OPPORTUNITIES IN OFFSHORE WIND MARKET	49
FIGURE 15	RISING DEMAND FOR RENEWABLE ENERGY TO DRIVE GROWTH OF OFFSHORE WIND MARKET DURING FORECAST PERIOD	49
4.2	OFFSHORE WIND MARKET, BY REGION	50
FIGURE 16	OFFSHORE WIND MARKET IN NORTH AMERICA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD	50
4.3	OFFSHORE WIND MARKET, BY COMPONENT	50
FIGURE 17	TURBINES SEGMENT HELD LARGEST SHARE OF OFFSHORE WIND MARKET  
IN 2020	50
4.4	OFFSHORE WIND MARKET FOR TURBINES, BY MODULE	51
FIGURE 18	NACELLE SEGMENT HELD LARGEST SHARE OF OFFSHORE WIND  MARKET 
IN 2020	51
4.5	OFFSHORE WIND MARKET, BY SUBSTRUCTURE	51
FIGURE 19	MONOPILE SEGMENT HELD LARGEST SHARE OF OFFSHORE WIND  
MARKET IN 2020	51
4.6	OFFSHORE WIND MARKET, BY ELECTRICAL INFRASTRUCTURE	52
FIGURE 20	SUBSTATION SEGMENT HELD LARGER SHARE OF ELECTRICAL  INFRASTRUCTURE IN 2020	52
4.7	OFFSHORE WIND MARKET, BY LOCATION	52
FIGURE 21	SHALLOW WATER SEGMENT HELD LARGEST SHARE OF OFFSHORE WIND MARKET, BY LOCATION, IN 2020	52
 
5	MARKET OVERVIEW	53
5.1	INTRODUCTION	53
5.2	COVID-19 HEALTH ASSESSMENT	53
FIGURE 22	COVID-19 GLOBAL PROPAGATION	53
FIGURE 23	COVID-19 PROPAGATION IN SELECTED COUNTRIES	54
5.3	GLOBAL ROAD TO RECOVERY FROM COVID-19	55
FIGURE 24	GLOBAL RECOVERY ROAD FROM COVID-19 FROM 2020 TO 2021	55
5.4	COVID-19 ECONOMIC ASSESSMENT	56
FIGURE 25	REVISED GDP FORECASTS FOR SELECT G20 COUNTRIES IN 2020	56
5.5	MARKET DYNAMICS	57
FIGURE 26	OFFSHORE WIND MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES,  
AND CHALLENGES	57
5.5.1	DRIVERS	57
5.5.1.1	Increasing global investments in renewable energy are likely to drive offshore wind market	57
FIGURE 27	ANNUAL GLOBAL INVESTMENTS IN POWER PLANTS, 
2010–2020 (USD BILLION)	58
5.5.1.2	Favorable government policies across all regions	58
FIGURE 28	TOTAL INSTALLED CAPACITY OF OFFSHORE WIND IN MW, BY COUNTRY, 2020	58
5.5.2	RESTRAINTS	59
5.5.2.1	High capital costs and logistic issues	59
5.5.2.2	Low cost of conventional electricity generation	59
FIGURE 29	AVERAGE CAPITAL COST INCURRED PER KW FOR VARIOUS TECHNOLOGIES	59
5.5.3	OPPORTUNITIES	60
5.5.3.1	Initiatives by governments and companies to reduce carbon emissions	60
FIGURE 30	GLOBAL ENERGY-RELATED CO2 EMISSIONS, 2005–2020	60
5.5.3.2	Floating foundation wind farms are permitting access to better 
wind resources	60
5.5.4	CHALLENGES	61
5.5.4.1	Lack of technical expertise needed to develop an offshore  wind farm	61
5.5.4.2	Climatic challenges during operations of wind farm	61
5.5.4.3	Impact of COVID-19	61
5.6	YC-SHIFT	62
5.6.1	REVENUE SHIFT AND NEW REVENUE POCKETS	62
FIGURE 31	REVENUE SHIFT FOR OFFSHORE WIND MARKET	62
5.7	MARKET MAP	63
FIGURE 32	MARKET MAP OF OFFSHORE WIND MARKET	63
5.8	AVERAGE COST TRENDS ANALYSIS	64
TABLE 2	WEIGHTED AVERAGE TOTAL INSTALLED COST TREND FOR OFFSHORE WIND ENERGY, 2010 & 2019 (USD/KW)	64
 
5.9	VALUE CHAIN ANALYSIS	64
FIGURE 33	OFFSHORE WIND MARKET: VALUE CHAIN ANALYSIS	64
5.9.1	RAW MATERIAL SUPPLIERS	64
5.9.2	COMPONENT MANUFACTURERS/TURBINE SUPPLIERS	65
5.9.3	SYSTEM INTEGRATORS/ASSEMBLERS	65
5.9.4	WIND FARM OPERATORS	65
5.9.4.1	Operations and Maintenance Services	65
TABLE 3	OFFSHORE WIND MARKET: ECOSYSTEM	66
5.10	TECHNOLOGY ANALYSIS	66
5.11	OFFSHORE WIND MARKET: CODES AND REGULATIONS	67
TABLE 4	OFFSHORE WIND MARKET: CODES AND REGULATIONS	67
5.12	INNOVATIONS AND PATENT REGISTRATIONS	68
TABLE 5	INNOVATIONS AND PATENTS RELATED TO OFFSHORE WIND MARKET	68
5.13	CASE STUDY ANALYSIS	70
5.13.1	OFFSHORE WIND FARM CHANGES MUNICH’S ENERGY MIX	70
5.13.1.1	Problem statement	70
5.13.1.2	Solution	70
5.13.2	GENERATING RENEWABLE ENERGY FROM UK’S OFFSHORE WIND FARMS	70
5.13.2.1	Problem statement	70
5.13.2.2	Solution	70
5.14	PORTER’S FIVE FORCES ANALYSIS	70
TABLE 6	OFFSHORE WIND MARKET: PORTER’S FIVE FORCES ANALYSIS	71
FIGURE 34	THREAT OF NEW ENTRANTS IS LOW IN OFFSHORE WIND MARKET	71
5.14.1	THREAT OF SUBSTITUTES	72
5.14.2	BARGAINING POWER OF SUPPLIERS	72
5.14.3	BARGAINING POWER OF BUYERS	72
5.14.4	THREAT OF NEW ENTRANTS	72
5.14.5	DEGREE OF COMPETITION	72
6	OFFSHORE WIND MARKET, BY COMPONENT	73
6.1	INTRODUCTION	74
TABLE 7	OFFSHORE WIND MARKET SIZE, BY COMPONENT, 
2019–2026 (USD MILLION)	74
6.2	TURBINES	75
TABLE 8	OFFSHORE WIND MARKET FOR TURBINES, BY MODULE, 
2019–2026 (USD MILLION)	75
TABLE 9	OFFSHORE WIND MARKET FOR TURBINES, BY REGION, 
2019–2026 (USD MILLION)	75
TABLE 10	OFFSHORE WIND MARKET FOR NACELLE, BY REGION, 
2019–2026 (USD MILLION)	76
TABLE 11	OFFSHORE WIND MARKET FOR ROTORS AND BLADES, BY REGION,  
2019–2026 (USD MILLION)	76
TABLE 12	OFFSHORE WIND MARKET FOR TOWER, BY REGION, 
2019–2026 (USD MILLION)	77
6.3	ELECTRICAL INFRASTRUCTURE	77
TABLE 13	OFFSHORE WIND MARKET FOR ELECTRICAL INFRASTRUCTURE, 
BY TYPE,  2019–2026 (USD MILLION)	78
TABLE 14	OFFSHORE WIND MARKET FOR ELECTRICAL INFRASTRUCTURE, 
BY REGION,  2019–2026 (USD MILLION)	78
TABLE 15	OFFSHORE WIND MARKET FOR WIRES & CABLES, BY REGION,  
2019–2026 (USD MILLION)	79
TABLE 16	OFFSHORE WIND MARKET FOR SUBSTATION, BY REGION, 
2019–2026 (USD MILLION)	80
6.4	SUBSTRUCTURE	80
TABLE 17	OFFSHORE WIND MARKET FOR SUBSTRUCTURE, BY TYPE, 
2019–2026 (USD MILLION)	81
TABLE 18	OFFSHORE WIND MARKET FOR SUBSTRUCTURE, BY REGION, 
2019–2026 (USD MILLION)	81
TABLE 19	OFFSHORE WIND MARKET FOR MONOPILE, BY REGION, 
2019–2026 (USD MILLION)	82
TABLE 20	OFFSHORE WIND MARKET FOR JACKET AND GRAVITY-BASED, BY REGION,  2019–2026 (USD MILLION)	83
TABLE 21	OFFSHORE WIND MARKET FOR OTHERS, BY REGION, 
2019–2026 (USD MILLION)	83
6.5	OTHERS	84
TABLE 22	OFFSHORE WINDMARKET FOR OTHERS, BY REGION, 
2019–2026 (USD MILLION)	84
7	OFFSHORE WIND MARKET, BY LOCATION	85
7.1	INTRODUCTION	86
TABLE 23	OFFSHORE WIND MARKET, BY LOCATION, 2019–2026 (USD MILLION)	86
7.2	SHALLOW WATER (<30 M DEPTH)	87
TABLE 24	SHALLOW WATER: OFFSHORE WIND MARKET, BY REGION, 
2019–2026 (USD MILLION)	87
7.3	TRANSITIONAL WATER (30–60 M DEPTH)	88
TABLE 25	TRANSITIONAL WATER: OFFSHORE WIND MARKET, BY REGION,  
2019–2026 (USD MILLION)	88
7.4	DEEPWATER (MORE THAN 60 M DEPTH)	88
TABLE 26	DEEPWATER: OFFSHORE WIND MARKET, BY REGION, 
2019–2026 (USD MILLION)	89
8	GEOGRAPHIC ANALYSIS	90
8.1	INTRODUCTION	91
FIGURE 37	OFFSHORE WIND MARKET IN NORTH AMERICA TO REGISTER HIGHEST CAGR FROM 2021 TO 2026	91
FIGURE 38	OFFSHORE WIND MARKET SHARE, BY REGION, 2020 (%)	92
TABLE 27	GLOBAL OFFSHORE WIND MARKET, BY REGION, 2019–2026 (USD MILLION)	92
 
8.2	ASIA PACIFIC	93
FIGURE 39	SNAPSHOT: OFFSHORE WIND MARKET IN ASIA PACIFIC	93
8.2.1	BY COMPONENT	94
TABLE 28	OFFSHORE WIND MARKET IN APAC, BY COMPONENT, 
2019–2026 (USD MILLION)	94
8.2.2	BY TURBINES	94
TABLE 29	OFFSHORE WIND MARKET IN APAC, FOR TURBINES, BY MODULE, 
2019–2026 (USD MILLION)	94
8.2.3	BY SUBSTRUCTURE	94
TABLE 30	OFFSHORE WIND MARKET IN APAC FOR SUBSTRUCTURE, BY TYPE, 
2019–2026 (USD MILLION)	94
8.2.4	BY ELECTRICAL INFRASTRUCTURE	95
TABLE 31	OFFSHORE WIND MARKET IN APAC FOR ELECTRICAL INFRASTRUCTURE, 
BY TYPE, 2019–2026 (USD MILLION)	95
8.2.5	BY LOCATION	95
TABLE 32	OFFSHORE WIND MARKET IN APAC, BY LOCATION, 
2019–2026 (USD MILLION)	95
8.2.6	BY COUNTRY	96
TABLE 33	OFFSHORE WIND MARKET IN APAC, BY COUNTRY, 
2019–2026 (USD MILLION)	96
8.2.6.1	China	96
8.2.6.1.1	Strong political commitment and decarbonization measures to drive growth of offshore wind market in China	96
TABLE 34	OFFSHORE WIND MARKET IN CHINA, BY COMPONENT, 
2019–2026 (USD MILLION)	97
TABLE 35	OFFSHORE WIND MARKET IN CHINA FOR TURBINES, BY MODULE,  
2019–2026 (USD MILLION)	97
TABLE 36	OFFSHORE WIND MARKET IN CHINA FOR SUBSTRUCTURE, BY TYPE, 
2019–2026 (USD MILLION)	97
TABLE 37	OFFSHORE WIND MARKET IN CHINA FOR ELECTRICAL INFRASTRUCTURE,  
BY TYPE,2019–2026 (USD MILLION)	98
TABLE 38	OFFSHORE WIND MARKET IN CHINA BY LOCATION, 
2019–2026 (USD MILLION)	98
8.2.6.2	Japan	98
8.2.6.2.1	Active participation of government and participation of wind farm developers is likely to drive offshore wind market in Japan	98
TABLE 39	OFFSHORE WIND MARKET IN JAPAN, BY COMPONENT, 
2019–2026 (USD MILLION)	99
TABLE 40	OFFSHORE WIND MARKET IN JAPAN FOR TURBINE, BY TYPE,
2019–2026 (USD MILLION)	99
TABLE 41	OFFSHORE WIND MARKET IN JAPAN FOR SUBSTRUCTURE, BY TYPE,  
2019–2026 (USD MILLION)	99
TABLE 42	OFFSHORE WIND MARKET IN JAPAN FOR ELECTRICAL INFRASTRUCTURE, 
BY TYPE, 2019–2026 (USD MILLION)	100
TABLE 43	OFFSHORE WIND MARKET IN JAPAN BY LOCATION, 
2019–2026 (USD MILLION)	100
 
8.2.6.3	South Korea	100
8.2.6.3.1	Aggressive plans by South Korean government and strong partnerships with other countries is going to drive offshore wind market in South Korea	100
TABLE 44	OFFSHORE WIND MARKET IN SOUTH KOREA, BY COMPONENT,  
2019–2026 (USD MILLION)	101
TABLE 45	FFSHORE WIND MARKET IN SOUTH KOREA FOR TURBINE, BY MODULE,  2019–2026 (USD MILLION)	101
TABLE 46	OFFSHORE WIND MARKET IN SOUTH KOREA FOR SUBSTRUCTURE, BY TYPE,  2019–2026 (USD MILLION)	101
TABLE 47	OFFSHORE WIND MARKET IN SOUTH KOREA FOR ELECTRICAL INFRASTRUCTURE, BY TYPE, 2019–2026 (USD MILLION)	102
TABLE 48	OFFSHORE WIND MARKET IN SOUTH KOREA, BY LOCATION, 
2019–2026 (USD MILLION)	102
8.2.6.4	Taiwan	102
8.2.6.4.1	Optimal wind energy conditions favor market growth 
in Taiwan	102
TABLE 49	OFFSHORE WIND MARKET IN TAIWAN, BY COMPONENT, 
2019–2026 (USD MILLION)	103
TABLE 50	OFFSHORE WIND MARKET IN TAIWAN FOR TURBINE, BY MODULE,  
2019–2026 (USD MILLION)	103
TABLE 51	OFFSHORE WIND MARKET IN TAIWAN FOR SUBSTRUCTURE, BY TYPE,  
2019–2026 (USD MILLION)	103
TABLE 52	OFFSHORE WIND MARKET IN TAIWAN FOR ELECTRICAL INFRASTRUCTURE, 
BY TYPE, 2019–2026 (USD MILLION)	104
TABLE 53	OFFSHORE WIND MARKET IN TAIWAN, BY LOCATION, 
2019–2026 (USD MILLION)	104
8.2.6.5	Vietnam	104
8.2.6.5.1	Move towards reducing dependency on fossil fuel and presence of wind resources to help in growth of offshore wind market	104
TABLE 54	OFFSHORE WIND MARKET IN VIETNAM, BY COMPONENT, 
2019–2026 (USD MILLION)	105
TABLE 55	OFFSHORE WIND MARKET IN VIETNAM FOR TURBINE, BY MODULE,  
2019–2026 (USD MILLION)	105
TABLE 56	OFFSHORE WIND MARKET IN VIETNAM FOR SUBSTRUCTURE, BY TYPE,  2019–2026 (USD MILLION)	105
TABLE 57	OFFSHORE WIND MARKET IN VIETNAM FOR ELECTRICAL INFRASTRUCTURE, BY TYPE, 2019–2026 (USD MILLION)	106
TABLE 58	OFFSHORE WIND MARKET IN VIETNAM, BY LOCATION, 
2019–2026 (USD MILLION)	106
8.3	EUROPE	106
FIGURE 40	EUROPE: MARKET SNAPSHOT	107
8.3.1	BY COMPONENT	107
TABLE 59	OFFSHORE WIND MARKET IN EUROPE, BY COMPONENT, 
2019–2026 (USD MILLION)	107
8.3.2	BY TURBINE	108
TABLE 60	OFFSHORE WIND MARKET IN EUROPE FOR TURBINES, BY MODULE,  
2019–2026 (USD MILLION)	108
8.3.3	BY SUBSTRUCTURE	108
TABLE 61	OFFSHORE WIND MARKET IN EUROPE FOR SUBSTRUCTURE, BY TYPE,  
2019–2026 (USD MILLION)	108
8.3.4	BY ELECTRICAL INFRASTRUCTURE	109
TABLE 62	OFFSHORE WIND MARKET IN EUROPE FOR ELECTRICAL INFRASTRUCTURE, BY TYPE, 2019–2026 (USD MILLION)	109
8.3.5	BY LOCATION	109
TABLE 63	OFFSHORE WIND MARKET IN EUROPE, BY LOCATION, 
2019–2026 (USD MILLION)	109
8.3.6	BY COUNTRY	110
TABLE 64	OFFSHORE WIND MARKET IN EUROPE, BY COUNTRY, 
2019–2026 (USD MILLION)	110
8.3.6.1	Germany	110
8.3.6.1.1	Government-led efforts and energy transition to lead way for offshore wind market	110
TABLE 65	OFFSHORE WIND MARKET IN GERMANY, BY COMPONENT, 
2019–2026 (USD MILLION)	111
TABLE 66	OFFSHORE WIND MARKET IN GERMANY FOR TURBINE, BY MODULE,  
2019–2026 (USD MILLION)	111
TABLE 67	OFFSHORE WIND MARKET IN GERMANY FOR SUBSTRUCTURE, BY TYPE,  2019–2026 (USD MILLION)	111
TABLE 68	OFFSHORE WIND MARKET IN GERMANY FOR BY ELECTRICAL INFRASTRUCTURE, BY TYPE, 2019–2026 (USD MILLION)	112
TABLE 69	OFFSHORE WIND MARKET IN GERMANY, BY LOCATION, 
2019–2026 (USD MILLION)	112
8.3.6.2	UK	112
8.3.6.2.1	Government policies and favorable conditions for offshore wind farms to drive market growth	112
TABLE 70	OFFSHORE WIND MARKET IN UK, BY COMPONENT, 
2019–2026 (USD MILLION)	113
TABLE 71	OFFSHORE WIND MARKET IN UK FOR BY TURBINES, BY MODULE,  
2019–2026 (USD MILLION)	113
TABLE 72	OFFSHORE WIND MARKET IN UK FOR SUBSTRUCTURE, BY TYPE,  
2019–2026 (USD MILLION)	113
TABLE 73	OFFSHORE WIND MARKET IN UK FOR ELECTRICAL INFRASTRUCTURE, 
BY TYPE,  2019–2026 (USD MILLION)	114
TABLE 74	OFFSHORE WIND MARKET IN UK, BY LOCATION, 2019–2026 (USD MILLION)	114
8.3.6.3	Denmark	115
8.3.6.3.1	High government support and developed market for offshore winds to create lucrative opportunities for 
market players	115
TABLE 75	OFFSHORE WIND MARKET IN DENMARK, BY COMPONENT, 
2019–2026 (USD MILLION)	115
TABLE 76	OFFSHORE WIND MARKET IN DENMARK FOR TURBINES, BY MODULE,  
2019–2026 (USD MILLION)	115
TABLE 77	OFFSHORE WIND MARKET IN DENMARK FOR SUBSTRUCTURE, BY TYPE,  2019–2026 (USD MILLION)	116
TABLE 78	OFFSHORE WIND MARKET IN DENMARK FOR ELECTRICAL INFRASTRUCTURE, BY TYPE, 2019–2026 (USD MILLION)	116
TABLE 79	OFFSHORE WIND MARKET IN DENMARK, BY LOCATION, 
2019–2026 (USD MILLION)	117
8.3.6.4	Belgium	117
8.3.6.4.1	Commercial lending to drive growth of offshore wind market	117
TABLE 80	OFFSHORE WIND MARKET IN BELGIUM, BY COMPONENT, 
2019–2026 (USD MILLION)	117
TABLE 81	OFFSHORE WIND MARKET IN BELGIUM FOR TURBINE, BY MODULE,  
2019–2026 (USD MILLION)	118
TABLE 82	OFFSHORE WIND MARKET IN BELGIUM FOR SUBSTRUCTURE, BY TYPE,  2019–2026 (USD MILLION)	118
TABLE 83	OFFSHORE WIND MARKET IN BELGIUM FOR ELECTRICAL INFRASTRUCTURE, BY TYPE, 2019–2026 (USD MILLION)	118
TABLE 84	OFFSHORE WIND MARKET IN BELGIUM, BY LOCATION, 
2019–2026 (USD MILLION)	119
8.3.6.5	Netherlands	119
8.3.6.5.1	High government support to drive growth of offshore 
wind market	119
TABLE 85	OFFSHORE WIND MARKET IN NETHERLANDS, BY COMPONENT,  
2019–2026 (USD MILLION)	120
TABLE 86	OFFSHORE WIND MARKET IN NETHERLANDS FOR TURBINE, BY MODULE,  2019–2026 (USD MILLION)	120
TABLE 87	OFFSHORE WIND MARKET IN NETHERLANDS FOR SUBSTRUCTURE, BY TYPE,  2019–2026 (USD MILLION)	120
TABLE 88	OFFSHORE WIND MARKET IN NETHERLANDS FOR ELECTRICAL INFRASTRUCTURE,  BY TYPE, 2019–2026 (USD MILLION)	121
TABLE 89	OFFSHORE WIND MARKET IN NETHERLANDS, BY LOCATION, 
2019–2026 (USD MILLION)	121
8.3.6.6	Sweden	122
8.3.6.6.1	Government-led plans to achieve 100% renewable energy by 2040 to drive growth of offshore wind market	122
TABLE 90	OFFSHORE WIND MARKET IN SWEDEN, BY COMPONENT, 
2019–2026 (USD MILLION)	122
TABLE 91	OFFSHORE WIND MARKET IN SWEDEN FOR TURBINES, BY MODULE,  
2019–2026 (USD MILLION)	122
TABLE 92	OFFSHORE WIND MARKET IN SWEDEN FOR SUBSTRUCTURE, BY TYPE,  2019–2026 (USD MILLION)	122
TABLE 93	OFFSHORE WIND MARKET IN SWEDEN FOR ELECTRICAL INFRASTRUCTURE, BY TYPE, 2019–2026 (USD MILLION)	123
TABLE 94	OFFSHORE WIND MARKET IN SWEDEN, BY LOCATION, 
2019–2026 (USD MILLION)	123
8.3.6.7	Finland	124
8.3.6.7.1	Government initiatives to develop offshore wind industry to boost market growth	124
TABLE 95	OFFSHORE WIND MARKET IN FINLAND, BY COMPONENT, 
2019–2026 (USD MILLION)	124
TABLE 96	OFFSHORE WIND MARKET IN FINLAND FOR TURBINES, BY MODULE,  
2019–2026 (USD MILLION)	124
TABLE 97	OFFSHORE WIND MARKET IN FINLAND FOR SUBSTRUCTURE, BY TYPE,  2019–2026 (USD MILLION)	124
TABLE 98	OFFSHORE WIND MARKET IN FINLAND FOR ELECTRICAL INFRASTRUCTURE, BY TYPE, 2019–2026 (USD MILLION)	125
TABLE 99	OFFSHORE WIND MARKET IN FINLAND, BY LOCATION, 
2019–2026 (USD MILLION)	125
8.3.6.8	Ireland	126
8.3.6.8.1	Upcoming offshore wind projects to help country achieve its renewable energy goals and drive market growth	126
TABLE 100	OFFSHORE WIND MARKET IN IRELAND, BY COMPONENT, 
2019–2026 (USD MILLION)	126
TABLE 101	OFFSHORE WIND MARKET IN IRELAND FOR TURBINES, BY MODULE,  
2019–2026 (USD MILLION)	126
TABLE 102	OFFSHORE WIND MARKET IN IRELAND FOR SUBSTRUCTURE, 
BY TYPE,  2019–2026 (USD MILLION)	126
TABLE 103	OFFSHORE WIND MARKET IN IRELAND FOR ELECTRICAL INFRASTRUCTURE, BY TYPE, 2019–2026 (USD MILLION)	127
TABLE 104	OFFSHORE WIND MARKET IN IRELAND, BY LOCATION, 
2019–2026 (USD MILLION)	127
8.3.6.9	Rest of Europe	128
TABLE 105	OFFSHORE WIND MARKET IN REST OF EUROPE, BY COMPONENT,  
2019–2026 (USD MILLION)	128
TABLE 106	OFFSHORE WIND MARKET IN REST OF EUROPE FOR TURBINES, BY MODULE,  2019–2026 (USD MILLION)	128
TABLE 107	OFFSHORE WIND MARKET IN REST OF EUROPE FOR SUBSTRUCTURE, 
BY TYPE,  2019–2026 (USD MILLION)	128
TABLE 108	OFFSHORE WIND MARKET IN REST OF EUROPE FOR ELECTRICAL INFRASTRUCTURE,  BY TYPE, 2019–2026 (USD MILLION)	129
TABLE 109	OFFSHORE WIND MARKET IN REST OF EUROPE, BY LOCATION,  
2019–2026 (USD MILLION)	129
8.4	NORTH AMERICA	130
FIGURE 41	NORTH AMERICA: MARKET SNAPSHOT, 2020	130
8.4.1	BY COMPONENT	131
TABLE 110	OFFSHORE WIND MARKET IN NORTH AMERICA, BY COMPONENT,  
2019–2026 (USD MILLION)	131
8.4.2	BY TURBINES	131
TABLE 111	OFFSHORE WIND MARKET IN NORTH AMERICA FOR TURBINES, BY MODULE,  2019–2026 (USD MILLION)	131
8.4.3	BY SUBSTRUCTURE	131
TABLE 112	OFFSHORE WIND MARKET IN NORTH AMERICA FOR SUBSTRUCTURE, 
BY TYPE,  2019–2026 (USD MILLION)	131
8.4.4	BY ELECTRICAL INFRASTRUCTURE	132
TABLE 113	OFFSHORE WIND MARKET IN NORTH AMERICA FOR ELECTRICAL INFRASTRUCTURE,  BY TYPE, 2019–2026 (USD MILLION)	132
8.4.5	BY LOCATION	132
TABLE 114	OFFSHORE WIND MARKET IN NORTH AMERICA, BY LOCATION,  
2019–2026 (USD MILLION)	132
 
8.4.6	BY COUNTRY	133
TABLE 115	OFFSHORE WIND MARKET IN NORTH AMERICA, BY COUNTRY, 
2019–2026 (USD MILLION)	133
8.4.6.1	US	133
8.4.6.1.1	Favorable government policies to drive growth of US offshore wind market	133
TABLE 116	OFFSHORE WIND MARKET IN US, BY COMPONENT, 
2019–2026 (USD MILLION)	133
TABLE 117	OFFSHORE WIND MARKET IN US FOR TURBINES, BY MODULE,  
2019–2026 (USD MILLION)	134
TABLE 118	OFFSHORE WIND MARKET IN US FOR SUBSTRUCTURE, BY TYPE,  
2019–2026 (USD MILLION)	134
TABLE 119	OFFSHORE WIND MARKET IN US FOR ELECTRICAL INFRASTRUCTURE, 
BY TYPE, 2019–2026 (USD MILLION)	134
TABLE 120	OFFSHORE WIND MARKET IN US, BY LOCATION, 2019–2026 (USD MILLION)	135
9	COMPETITIVE LANDSCAPE	136
9.1	OVERVIEW	136
TABLE 121	OVERVIEW OF TOP PLAYERS, JANUARY 2017–JULY 2021	136
9.2	MARKET SHARE ANALYSIS	137
TABLE 122	OFFSHORE WIND MARKET: DEGREE OF COMPETITION	137
FIGURE 42	LEADING PLAYERS IN OFFSHORE WIND MARKET	138
9.3	MARKET EVALUATION FRAMEWORK	139
TABLE 123	MARKET EVALUATION FRAMEWORK	139
9.4	COMPETITIVE SCENARIO	140
TABLE 124	OFFSHORE WIND MARKET: PRODUCT LAUNCHES, JANUARY 2017–JULY 2021	140
TABLE 125	OFFSHORE WIND MARKET: DEALS, JANUARY 2017–JULY 2021	141
TABLE 126	OFFSHORE WIND MARKET: OTHERS, JANUARY 2017–JULY 2021	143
9.5	COMPANY EVALUATION QUADRANT	144
9.5.1	STAR	144
9.5.2	EMERGING LEADER	144
9.5.3	PERVASIVE	144
9.5.4	PARTICIPANT	144
FIGURE 43	COMPETITIVE LEADERSHIP MAPPING: OFFSHORE WIND MARKET, 2020	145
9.5.5	COMPANY FOOTPRINT	145
TABLE 127	COMPANY FOOTPRINT	145
TABLE 128	COMPANY COMPONENT FOOTPRINT	147
TABLE 129	COMPANY LOCATION FOOTPRINT	148
TABLE 130	COMPANY REGIONAL FOOTPRINT	149
 
10	COMPANY PROFILES	150
10.1	MAJOR PLAYERS	150
(Business overview, Products/solutions offered, Recent Developments, MNM view)*
10.1.1	GENERAL ELECTRIC	150
TABLE 131	GENERAL ELECTRIC: COMPANY OVERVIEW	150
FIGURE 44	GENERAL ELECTRIC: COMPANY SNAPSHOT	151
TABLE 132	GENERAL ELECTRIC: PRODUCTS/SOLUTIONS OFFERED	152
TABLE 133	GENERAL ELECTRIC: PRODUCT LAUNCHES	152
TABLE 134	GENERAL ELECTRIC: DEALS	153
TABLE 135	GENERAL ELECTRIC: OTHERS	154
10.1.2	VESTAS	156
TABLE 136	VESTAS: COMPANY OVERVIEW	156
FIGURE 45	VESTAS: COMPANY SNAPSHOT	157
TABLE 137	VESTAS: PRODUCTS/SOLUTIONS OFFERED	157
TABLE 138	VESTAS: PRODUCT LAUNCHES	159
TABLE 139	VESTAS: DEALS	159
TABLE 140	VESTAS: OTHERS	162
10.1.3	SIEMENS GAMESA	164
TABLE 141	SIEMENS GAMESA: COMPANY OVERVIEW	164
FIGURE 46	SIEMENS GAMESA: COMPANY SNAPSHOT	165
TABLE 142	SIEMENS GAMESA: PRODUCTS/SOLUTIONS OFFERED	165
TABLE 143	SIEMENS GAMESA: PRODUCT LAUNCHES	166
TABLE 144	SIEMENS GAMESA: DEALS	167
10.1.4	ABB	171
TABLE 145	ABB: COMPANY OVERVIEW	171
FIGURE 47	ABB: COMPANY SNAPSHOT	172
TABLE 146	ABB: PRODUCTS/SOLUTIONS OFFERED	172
TABLE 147	ABB: DEALS	174
10.1.5	GOLDWIND	176
TABLE 148	GOLDWIND: COMPANY OVERVIEW	176
FIGURE 48	GOLDWIND: COMPANY SNAPSHOT	177
TABLE 149	GOLDWIND: PRODUCTS/SOLUTIONS OFFERED	178
TABLE 150	GOLDWIND: PRODUCT LAUNCHES	179
TABLE 151	GOLDWIND: DEALS	179
10.1.6	DOOSAN HEAVY INDUSTRIES AND CONSTRUCTION	181
TABLE 152	DOOSAN HEAVY INDUSTRIES AND CONSTRUCTION: COMPANY OVERVIEW	181
FIGURE 49	DOOSAN HEAVY INDUSTRIES AND CONSTRUCTION: COMPANY SNAPSHOT	182
TABLE 153	DOOSAN HEAVY INDUSTRIES AND CONSTRUCTION: PRODUCTS/SOLUTIONS OFFERED	182
TABLE 154	DOOSAN HEAVY INDUSTRIES AND CONSTRUCTION	183
10.1.7	NORDEX	185
TABLE 155	NORDEX: COMPANY OVERVIEW	185
FIGURE 50	NORDEX SE: COMPANY SNAPSHOT	186
TABLE 156	NORDEX: PRODUCTS/SOLUTIONS OFFERED	186
TABLE 157	NORDEX: DEALS	187
10.1.8	SHANGHAI ELECTRIC WIND POWER EQUIPMENT CO.	188
TABLE 158	SHANGHAI ELECTRIC WIND POWER EQUIPMENT CO.: COMPANY OVERVIEW	188
FIGURE 51	SHANGHAI ELECTRIC WIND POWER EQUIPMENT CO.: COMPANY SNAPSHOT	189
TABLE 159	SHANGHAI ELECTRIC WIND POWER EQUIPMENT CO.: PRODUCTS/
SOLUTIONS OFFERED	189
TABLE 160	SHANGHAI ELECTRIC WIND POWER EQUIPMENT CO.: PRODUCT LAUNCHED	190
TABLE 161	SHANGHAI ELECTRIC WIND POWER EQUIPMENT CO.: DEALS	191
10.1.9	EEW GROUP	192
TABLE 162	EEW GROUP: COMPANY OVERVIEW	192
TABLE 163	EEW GROUP: PRODUCTS/SOLUTIONS OFFERED	192
TABLE 164	EEW GROUP: DEALS	193
10.1.10	NEXANS	195
TABLE 165	NEXANS: COMPANY OVERVIEW	195
FIGURE 52	NEXANS: COMPANY SNAPSHOT	196
TABLE 166	NEXANS: PRODUCTS/SOLUTIONS OFFERED	196
TABLE 167	NEXANS: PRODUCT LAUNCHES	198
TABLE 168	NEXANS: DEALS	198
10.1.11	DEME	201
TABLE 169	DEME: COMPANY OVERVIEW	201
FIGURE 53	DEME: COMPANY SNAPSHOT	202
TABLE 170	DEME: PRODUCTS/SOLUTIONS OFFERED	202
TABLE 171	DEME: DEALS	203
10.1.12	HITACHI	207
TABLE 172	HITACHI: COMPANY OVERVIEW	207
FIGURE 54	HITACHI: COMPANY SNAPSHOT	208
TABLE 173	HITACHI: PRODUCTS/SOLUTIONS OFFERED	208
TABLE 174	HITACHI: DEALS	209
10.1.13	MING YANG SMART ENERGY GROUP CO.	211
TABLE 175	MING YANG SMART ENERGY GROUP CO.: COMPANY OVERVIEW	211
TABLE 176	MING YANG SMART ENERGY GROUP CO.: PRODUCTS/SOLUTIONS OFFERED	211
TABLE 177	MING YANG SMART ENERGY GROUP CO.: PRODUCT LAUNCHES	212
TABLE 178	MING YANG SMART ENERGY GROUP CO.: DEALS	212
10.1.14	ENVISION ENERGY	214
TABLE 179	ENVISION: COMPANY OVERVIEW	214
TABLE 180	ENVISION: PRODUCTS/SOLUTIONS OFFERED	214
TABLE 181	ENVISION: DEALS	214
10.1.15	ROCKWELL AUTOMATION	215
TABLE 182	ROCKWELL AUTOMATION: COMPANY OVERVIEW	215
FIGURE 55	ROCKWELL AUTOMATION: COMPANY SNAPSHOT	216
TABLE 183	ROCKWELL AUTOMATION: PRODUCTS/SOLUTIONS OFFERED	216
TABLE 184	ROCKWELL AUTOMATION: DEALS	217
10.2	OTHER KEY PLAYERS	218
10.2.1	HYUNDAI MOTOR GROUP	218
TABLE 185	HYUNDAI MOTOR GROUP COMPANY SNAPSHOT	218
10.2.2	SCHNEIDER ELECTRIC	219
TABLE 186	SCHNEIDER ELECTRIC COMPANY SNAPSHOT	219
10.2.3	ZHEJIANG WINDEY CO	219
TABLE 187	ZHEJIANG WINDEY CO COMPANY SNAPSHOT	219
10.2.4	TAIYUAN HEAVY INDUSTRY CO., LTD	220
TABLE 188	TAIYUAN HEAVY INDUSTRY CO., LTD COMPANY SNAPSHOT	220
10.2.5	SINOVEL	220
TABLE 189	SINOVEL COMPANY SNAPSHOT	220
*Details on Business overview, Products/solutions offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
11	ADJACENT & RELATED MARKETS	221
11.1	INTRODUCTION	221
11.2	LIMITATIONS	221
11.3	OFFSHORE WIND TURBINE EQUIPMENT MARKET	221
11.3.1	MARKET DEFINITION	221
11.3.2	LIMITATIONS	222
TABLE 190	OFFSHORE WIND TURBINE MARKET, BY UNITS (CUMULATIVE), 
2017–2030 (UNIT)	222
TABLE 191	OFFSHORE WIND TURBINE MARKET, BY UNITS (NEW INSTALLATION),  
2017–2030 (UNIT)	222
TABLE 192	OFFSHORE WIND TURBINE MARKET, BY OFFSHORE WIND POWER CAPACITY (CUMULATIVE CAPACITY-), 2017–2030 (MW)	222
TABLE 193	OFFSHORE WIND TURBINE MARKET, BY OFFSHORE WIND POWER CAPACITY (NEW INSTALLATION-), 2017–2030 (MW)	223
TABLE 194	FARM DATA ALONG WITH NUMBER OF WIND POWER COLLECTION  TRANSFORMERS (2018)	223
TABLE 195	NUMBER OF  OFFSHORE INSTALLED WIND TURBINE UNITS 
BY COUNTRY (2018)	224
12	APPENDIX	225
12.1	INSIGHTS OF INDUSTRY EXPERTS	225
12.2	DISCUSSION GUIDE	226
12.3	KNOWLEDGE STORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL	229
12.4	AVAILABLE CUSTOMIZATIONS	231
12.5	RELATED REPORTS	231
12.6	AUTHOR DETAILS	232
			       1	INTRODUCTION	29
1.1	STUDY OBJECTIVES	29
1.2	MARKET DEFINITION	29
1.3	INCLUSIONS AND EXCLUSIONS	30
1.3.1	OFFSHORE WIND MARKET, BY COMPONENT: INCLUSIONS AND EXCLUSIONS	30
1.3.2	OFFSHORE WIND MARKET, BY LOCATION: INCLUSIONS AND EXCLUSIONS	30
1.4	STUDY SCOPE	30
1.4.1	MARKETS COVERED	30
1.4.2	REGIONAL SCOPE	31
1.4.3	YEARS CONSIDERED	31
1.5	CURRENCY	32
1.6	LIMITATIONS	32
1.7	STAKEHOLDERS	32
1.8	SUMMARY OF CHANGES	33
2	RESEARCH METHODOLOGY	34
2.1	RESEARCH DATA	34
FIGURE 1	OFFSHORE WIND MARKET: RESEARCH DESIGN	34
2.2	MARKET BREAKDOWN AND DATA TRIANGULATION	35
FIGURE 2	DATA TRIANGULATION METHODOLOGY	35
2.2.1	SECONDARY DATA	36
2.2.1.1	Key data from secondary sources	36
2.2.2	PRIMARY DATA	37
2.2.2.1	Key data from primary sources	37
2.2.2.2	Breakdown of primaries	37
FIGURE 3	BREAKDOWN OF PRIMARIES	38
2.3	IMPACT OF COVID-19	38
2.4	MARKET SIZE ESTIMATION	38
2.4.1	BOTTOM-UP APPROACH	39
FIGURE 4	MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH	39
2.4.2	TOP-DOWN APPROACH	40
FIGURE 5	MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH	40
2.4.3	DEMAND SIDE ANALYSIS	41
FIGURE 6	MAIN METRICS CONSIDERED WHILE ANALYZING AND ASSESSING DEMAND  FOR OFFSHORE WIND	41
2.4.3.1	Demand side calculation	41
2.4.3.2	Assumptions for demand side analysis	42
2.4.4	SUPPLY SIDE ANALYSIS	42
FIGURE 7	MAIN METRICS CONSIDERED IN ASSESSING SUPPLY FOR OFFSHORE WIND	42
FIGURE 8	OFFSHORE WIND MARKET: SUPPLY SIDE ANALYSIS	43
2.4.4.1	Supply side calculation	43
2.4.4.2	Assumptions for supply side	43
2.4.5	FORECAST	43
3	EXECUTIVE SUMMARY	44
TABLE 1	SNAPSHOT OF OFFSHORE WIND MARKET	45
FIGURE 9	TURBINES SEGMENT TO ACCOUNT FOR LARGEST SHARE OF OFFSHORE 
WIND MARKET, BY COMPONENT, DURING FORECAST PERIOD	45
FIGURE 10	NACELLE TO HOLD LARGEST SHARE OF OFFSHORE WIND MARKET FOR TURBINES, BY MODULE, DURING FORECAST PERIOD	46
FIGURE 11	MONOPILE SEGMENT TO ACCOUNT FOR LARGEST SHARE OF OFFSHORE WIND MARKET, BY SUBSTRUCTURE, DURING FORECAST PERIOD	46
FIGURE 12	SUBSTATION SEGMENT TO ACCOUNT FOR LARGER SHARE OF 
OFFSHORE WIND MARKET, BY ELECTRICAL INFRASTRUCTURE, DURING FORECAST PERIOD	47
FIGURE 13	SHALLOW WATER SEGMENT TO ACCOUNT FOR LARGEST SHARE OF OFFSHORE WIND MARKET, BY LOCATION, DURING FORECAST PERIOD	47
FIGURE 14	NORTH AMERICA OFFSHORE WIND MARKET TO EXHIBIT HIGHEST CAGR  DURING 2021–2026	48
4	PREMIUM INSIGHTS	49
4.1	ATTRACTIVE OPPORTUNITIES IN OFFSHORE WIND MARKET	49
FIGURE 15	RISING DEMAND FOR RENEWABLE ENERGY TO DRIVE GROWTH OF OFFSHORE WIND MARKET DURING FORECAST PERIOD	49
4.2	OFFSHORE WIND MARKET, BY REGION	50
FIGURE 16	OFFSHORE WIND MARKET IN NORTH AMERICA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD	50
4.3	OFFSHORE WIND MARKET, BY COMPONENT	50
FIGURE 17	TURBINES SEGMENT HELD LARGEST SHARE OF OFFSHORE WIND MARKET  
IN 2020	50
4.4	OFFSHORE WIND MARKET FOR TURBINES, BY MODULE	51
FIGURE 18	NACELLE SEGMENT HELD LARGEST SHARE OF OFFSHORE WIND  MARKET 
IN 2020	51
4.5	OFFSHORE WIND MARKET, BY SUBSTRUCTURE	51
FIGURE 19	MONOPILE SEGMENT HELD LARGEST SHARE OF OFFSHORE WIND  
MARKET IN 2020	51
4.6	OFFSHORE WIND MARKET, BY ELECTRICAL INFRASTRUCTURE	52
FIGURE 20	SUBSTATION SEGMENT HELD LARGER SHARE OF ELECTRICAL  INFRASTRUCTURE IN 2020	52
4.7	OFFSHORE WIND MARKET, BY LOCATION	52
FIGURE 21	SHALLOW WATER SEGMENT HELD LARGEST SHARE OF OFFSHORE WIND MARKET, BY LOCATION, IN 2020	52
 
5	MARKET OVERVIEW	53
5.1	INTRODUCTION	53
5.2	COVID-19 HEALTH ASSESSMENT	53
FIGURE 22	COVID-19 GLOBAL PROPAGATION	53
FIGURE 23	COVID-19 PROPAGATION IN SELECTED COUNTRIES	54
5.3	GLOBAL ROAD TO RECOVERY FROM COVID-19	55
FIGURE 24	GLOBAL RECOVERY ROAD FROM COVID-19 FROM 2020 TO 2021	55
5.4	COVID-19 ECONOMIC ASSESSMENT	56
FIGURE 25	REVISED GDP FORECASTS FOR SELECT G20 COUNTRIES IN 2020	56
5.5	MARKET DYNAMICS	57
FIGURE 26	OFFSHORE WIND MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES,  
AND CHALLENGES	57
5.5.1	DRIVERS	57
5.5.1.1	Increasing global investments in renewable energy are likely to drive offshore wind market	57
FIGURE 27	ANNUAL GLOBAL INVESTMENTS IN POWER PLANTS, 
2010–2020 (USD BILLION)	58
5.5.1.2	Favorable government policies across all regions	58
FIGURE 28	TOTAL INSTALLED CAPACITY OF OFFSHORE WIND IN MW, BY COUNTRY, 2020	58
5.5.2	RESTRAINTS	59
5.5.2.1	High capital costs and logistic issues	59
5.5.2.2	Low cost of conventional electricity generation	59
FIGURE 29	AVERAGE CAPITAL COST INCURRED PER KW FOR VARIOUS TECHNOLOGIES	59
5.5.3	OPPORTUNITIES	60
5.5.3.1	Initiatives by governments and companies to reduce carbon emissions	60
FIGURE 30	GLOBAL ENERGY-RELATED CO2 EMISSIONS, 2005–2020	60
5.5.3.2	Floating foundation wind farms are permitting access to better 
wind resources	60
5.5.4	CHALLENGES	61
5.5.4.1	Lack of technical expertise needed to develop an offshore  wind farm	61
5.5.4.2	Climatic challenges during operations of wind farm	61
5.5.4.3	Impact of COVID-19	61
5.6	YC-SHIFT	62
5.6.1	REVENUE SHIFT AND NEW REVENUE POCKETS	62
FIGURE 31	REVENUE SHIFT FOR OFFSHORE WIND MARKET	62
5.7	MARKET MAP	63
FIGURE 32	MARKET MAP OF OFFSHORE WIND MARKET	63
5.8	AVERAGE COST TRENDS ANALYSIS	64
TABLE 2	WEIGHTED AVERAGE TOTAL INSTALLED COST TREND FOR OFFSHORE WIND ENERGY, 2010 & 2019 (USD/KW)	64
 
5.9	VALUE CHAIN ANALYSIS	64
FIGURE 33	OFFSHORE WIND MARKET: VALUE CHAIN ANALYSIS	64
5.9.1	RAW MATERIAL SUPPLIERS	64
5.9.2	COMPONENT MANUFACTURERS/TURBINE SUPPLIERS	65
5.9.3	SYSTEM INTEGRATORS/ASSEMBLERS	65
5.9.4	WIND FARM OPERATORS	65
5.9.4.1	Operations and Maintenance Services	65
TABLE 3	OFFSHORE WIND MARKET: ECOSYSTEM	66
5.10	TECHNOLOGY ANALYSIS	66
5.11	OFFSHORE WIND MARKET: CODES AND REGULATIONS	67
TABLE 4	OFFSHORE WIND MARKET: CODES AND REGULATIONS	67
5.12	INNOVATIONS AND PATENT REGISTRATIONS	68
TABLE 5	INNOVATIONS AND PATENTS RELATED TO OFFSHORE WIND MARKET	68
5.13	CASE STUDY ANALYSIS	70
5.13.1	OFFSHORE WIND FARM CHANGES MUNICH’S ENERGY MIX	70
5.13.1.1	Problem statement	70
5.13.1.2	Solution	70
5.13.2	GENERATING RENEWABLE ENERGY FROM UK’S OFFSHORE WIND FARMS	70
5.13.2.1	Problem statement	70
5.13.2.2	Solution	70
5.14	PORTER’S FIVE FORCES ANALYSIS	70
TABLE 6	OFFSHORE WIND MARKET: PORTER’S FIVE FORCES ANALYSIS	71
FIGURE 34	THREAT OF NEW ENTRANTS IS LOW IN OFFSHORE WIND MARKET	71
5.14.1	THREAT OF SUBSTITUTES	72
5.14.2	BARGAINING POWER OF SUPPLIERS	72
5.14.3	BARGAINING POWER OF BUYERS	72
5.14.4	THREAT OF NEW ENTRANTS	72
5.14.5	DEGREE OF COMPETITION	72
6	OFFSHORE WIND MARKET, BY COMPONENT	73
6.1	INTRODUCTION	74
TABLE 7	OFFSHORE WIND MARKET SIZE, BY COMPONENT, 
2019–2026 (USD MILLION)	74
6.2	TURBINES	75
TABLE 8	OFFSHORE WIND MARKET FOR TURBINES, BY MODULE, 
2019–2026 (USD MILLION)	75
TABLE 9	OFFSHORE WIND MARKET FOR TURBINES, BY REGION, 
2019–2026 (USD MILLION)	75
TABLE 10	OFFSHORE WIND MARKET FOR NACELLE, BY REGION, 
2019–2026 (USD MILLION)	76
TABLE 11	OFFSHORE WIND MARKET FOR ROTORS AND BLADES, BY REGION,  
2019–2026 (USD MILLION)	76
TABLE 12	OFFSHORE WIND MARKET FOR TOWER, BY REGION, 
2019–2026 (USD MILLION)	77
6.3	ELECTRICAL INFRASTRUCTURE	77
TABLE 13	OFFSHORE WIND MARKET FOR ELECTRICAL INFRASTRUCTURE, 
BY TYPE,  2019–2026 (USD MILLION)	78
TABLE 14	OFFSHORE WIND MARKET FOR ELECTRICAL INFRASTRUCTURE, 
BY REGION,  2019–2026 (USD MILLION)	78
TABLE 15	OFFSHORE WIND MARKET FOR WIRES & CABLES, BY REGION,  
2019–2026 (USD MILLION)	79
TABLE 16	OFFSHORE WIND MARKET FOR SUBSTATION, BY REGION, 
2019–2026 (USD MILLION)	80
6.4	SUBSTRUCTURE	80
TABLE 17	OFFSHORE WIND MARKET FOR SUBSTRUCTURE, BY TYPE, 
2019–2026 (USD MILLION)	81
TABLE 18	OFFSHORE WIND MARKET FOR SUBSTRUCTURE, BY REGION, 
2019–2026 (USD MILLION)	81
TABLE 19	OFFSHORE WIND MARKET FOR MONOPILE, BY REGION, 
2019–2026 (USD MILLION)	82
TABLE 20	OFFSHORE WIND MARKET FOR JACKET AND GRAVITY-BASED, BY REGION,  2019–2026 (USD MILLION)	83
TABLE 21	OFFSHORE WIND MARKET FOR OTHERS, BY REGION, 
2019–2026 (USD MILLION)	83
6.5	OTHERS	84
TABLE 22	OFFSHORE WINDMARKET FOR OTHERS, BY REGION, 
2019–2026 (USD MILLION)	84
7	OFFSHORE WIND MARKET, BY LOCATION	85
7.1	INTRODUCTION	86
TABLE 23	OFFSHORE WIND MARKET, BY LOCATION, 2019–2026 (USD MILLION)	86
7.2	SHALLOW WATER (<30 M DEPTH)	87
TABLE 24	SHALLOW WATER: OFFSHORE WIND MARKET, BY REGION, 
2019–2026 (USD MILLION)	87
7.3	TRANSITIONAL WATER (30–60 M DEPTH)	88
TABLE 25	TRANSITIONAL WATER: OFFSHORE WIND MARKET, BY REGION,  
2019–2026 (USD MILLION)	88
7.4	DEEPWATER (MORE THAN 60 M DEPTH)	88
TABLE 26	DEEPWATER: OFFSHORE WIND MARKET, BY REGION, 
2019–2026 (USD MILLION)	89
8	GEOGRAPHIC ANALYSIS	90
8.1	INTRODUCTION	91
FIGURE 37	OFFSHORE WIND MARKET IN NORTH AMERICA TO REGISTER HIGHEST CAGR FROM 2021 TO 2026	91
FIGURE 38	OFFSHORE WIND MARKET SHARE, BY REGION, 2020 (%)	92
TABLE 27	GLOBAL OFFSHORE WIND MARKET, BY REGION, 2019–2026 (USD MILLION)	92
 
8.2	ASIA PACIFIC	93
FIGURE 39	SNAPSHOT: OFFSHORE WIND MARKET IN ASIA PACIFIC	93
8.2.1	BY COMPONENT	94
TABLE 28	OFFSHORE WIND MARKET IN APAC, BY COMPONENT, 
2019–2026 (USD MILLION)	94
8.2.2	BY TURBINES	94
TABLE 29	OFFSHORE WIND MARKET IN APAC, FOR TURBINES, BY MODULE, 
2019–2026 (USD MILLION)	94
8.2.3	BY SUBSTRUCTURE	94
TABLE 30	OFFSHORE WIND MARKET IN APAC FOR SUBSTRUCTURE, BY TYPE, 
2019–2026 (USD MILLION)	94
8.2.4	BY ELECTRICAL INFRASTRUCTURE	95
TABLE 31	OFFSHORE WIND MARKET IN APAC FOR ELECTRICAL INFRASTRUCTURE, 
BY TYPE, 2019–2026 (USD MILLION)	95
8.2.5	BY LOCATION	95
TABLE 32	OFFSHORE WIND MARKET IN APAC, BY LOCATION, 
2019–2026 (USD MILLION)	95
8.2.6	BY COUNTRY	96
TABLE 33	OFFSHORE WIND MARKET IN APAC, BY COUNTRY, 
2019–2026 (USD MILLION)	96
8.2.6.1	China	96
8.2.6.1.1	Strong political commitment and decarbonization measures to drive growth of offshore wind market in China	96
TABLE 34	OFFSHORE WIND MARKET IN CHINA, BY COMPONENT, 
2019–2026 (USD MILLION)	97
TABLE 35	OFFSHORE WIND MARKET IN CHINA FOR TURBINES, BY MODULE,  
2019–2026 (USD MILLION)	97
TABLE 36	OFFSHORE WIND MARKET IN CHINA FOR SUBSTRUCTURE, BY TYPE, 
2019–2026 (USD MILLION)	97
TABLE 37	OFFSHORE WIND MARKET IN CHINA FOR ELECTRICAL INFRASTRUCTURE,  
BY TYPE,2019–2026 (USD MILLION)	98
TABLE 38	OFFSHORE WIND MARKET IN CHINA BY LOCATION, 
2019–2026 (USD MILLION)	98
8.2.6.2	Japan	98
8.2.6.2.1	Active participation of government and participation of wind farm developers is likely to drive offshore wind market in Japan	98
TABLE 39	OFFSHORE WIND MARKET IN JAPAN, BY COMPONENT, 
2019–2026 (USD MILLION)	99
TABLE 40	OFFSHORE WIND MARKET IN JAPAN FOR TURBINE, BY TYPE,
2019–2026 (USD MILLION)	99
TABLE 41	OFFSHORE WIND MARKET IN JAPAN FOR SUBSTRUCTURE, BY TYPE,  
2019–2026 (USD MILLION)	99
TABLE 42	OFFSHORE WIND MARKET IN JAPAN FOR ELECTRICAL INFRASTRUCTURE, 
BY TYPE, 2019–2026 (USD MILLION)	100
TABLE 43	OFFSHORE WIND MARKET IN JAPAN BY LOCATION, 
2019–2026 (USD MILLION)	100
 
8.2.6.3	South Korea	100
8.2.6.3.1	Aggressive plans by South Korean government and strong partnerships with other countries is going to drive offshore wind market in South Korea	100
TABLE 44	OFFSHORE WIND MARKET IN SOUTH KOREA, BY COMPONENT,  
2019–2026 (USD MILLION)	101
TABLE 45	FFSHORE WIND MARKET IN SOUTH KOREA FOR TURBINE, BY MODULE,  2019–2026 (USD MILLION)	101
TABLE 46	OFFSHORE WIND MARKET IN SOUTH KOREA FOR SUBSTRUCTURE, BY TYPE,  2019–2026 (USD MILLION)	101
TABLE 47	OFFSHORE WIND MARKET IN SOUTH KOREA FOR ELECTRICAL INFRASTRUCTURE, BY TYPE, 2019–2026 (USD MILLION)	102
TABLE 48	OFFSHORE WIND MARKET IN SOUTH KOREA, BY LOCATION, 
2019–2026 (USD MILLION)	102
8.2.6.4	Taiwan	102
8.2.6.4.1	Optimal wind energy conditions favor market growth 
in Taiwan	102
TABLE 49	OFFSHORE WIND MARKET IN TAIWAN, BY COMPONENT, 
2019–2026 (USD MILLION)	103
TABLE 50	OFFSHORE WIND MARKET IN TAIWAN FOR TURBINE, BY MODULE,  
2019–2026 (USD MILLION)	103
TABLE 51	OFFSHORE WIND MARKET IN TAIWAN FOR SUBSTRUCTURE, BY TYPE,  
2019–2026 (USD MILLION)	103
TABLE 52	OFFSHORE WIND MARKET IN TAIWAN FOR ELECTRICAL INFRASTRUCTURE, 
BY TYPE, 2019–2026 (USD MILLION)	104
TABLE 53	OFFSHORE WIND MARKET IN TAIWAN, BY LOCATION, 
2019–2026 (USD MILLION)	104
8.2.6.5	Vietnam	104
8.2.6.5.1	Move towards reducing dependency on fossil fuel and presence of wind resources to help in growth of offshore wind market	104
TABLE 54	OFFSHORE WIND MARKET IN VIETNAM, BY COMPONENT, 
2019–2026 (USD MILLION)	105
TABLE 55	OFFSHORE WIND MARKET IN VIETNAM FOR TURBINE, BY MODULE,  
2019–2026 (USD MILLION)	105
TABLE 56	OFFSHORE WIND MARKET IN VIETNAM FOR SUBSTRUCTURE, BY TYPE,  2019–2026 (USD MILLION)	105
TABLE 57	OFFSHORE WIND MARKET IN VIETNAM FOR ELECTRICAL INFRASTRUCTURE, BY TYPE, 2019–2026 (USD MILLION)	106
TABLE 58	OFFSHORE WIND MARKET IN VIETNAM, BY LOCATION, 
2019–2026 (USD MILLION)	106
8.3	EUROPE	106
FIGURE 40	EUROPE: MARKET SNAPSHOT	107
8.3.1	BY COMPONENT	107
TABLE 59	OFFSHORE WIND MARKET IN EUROPE, BY COMPONENT, 
2019–2026 (USD MILLION)	107
8.3.2	BY TURBINE	108
TABLE 60	OFFSHORE WIND MARKET IN EUROPE FOR TURBINES, BY MODULE,  
2019–2026 (USD MILLION)	108
8.3.3	BY SUBSTRUCTURE	108
TABLE 61	OFFSHORE WIND MARKET IN EUROPE FOR SUBSTRUCTURE, BY TYPE,  
2019–2026 (USD MILLION)	108
8.3.4	BY ELECTRICAL INFRASTRUCTURE	109
TABLE 62	OFFSHORE WIND MARKET IN EUROPE FOR ELECTRICAL INFRASTRUCTURE, BY TYPE, 2019–2026 (USD MILLION)	109
8.3.5	BY LOCATION	109
TABLE 63	OFFSHORE WIND MARKET IN EUROPE, BY LOCATION, 
2019–2026 (USD MILLION)	109
8.3.6	BY COUNTRY	110
TABLE 64	OFFSHORE WIND MARKET IN EUROPE, BY COUNTRY, 
2019–2026 (USD MILLION)	110
8.3.6.1	Germany	110
8.3.6.1.1	Government-led efforts and energy transition to lead way for offshore wind market	110
TABLE 65	OFFSHORE WIND MARKET IN GERMANY, BY COMPONENT, 
2019–2026 (USD MILLION)	111
TABLE 66	OFFSHORE WIND MARKET IN GERMANY FOR TURBINE, BY MODULE,  
2019–2026 (USD MILLION)	111
TABLE 67	OFFSHORE WIND MARKET IN GERMANY FOR SUBSTRUCTURE, BY TYPE,  2019–2026 (USD MILLION)	111
TABLE 68	OFFSHORE WIND MARKET IN GERMANY FOR BY ELECTRICAL INFRASTRUCTURE, BY TYPE, 2019–2026 (USD MILLION)	112
TABLE 69	OFFSHORE WIND MARKET IN GERMANY, BY LOCATION, 
2019–2026 (USD MILLION)	112
8.3.6.2	UK	112
8.3.6.2.1	Government policies and favorable conditions for offshore wind farms to drive market growth	112
TABLE 70	OFFSHORE WIND MARKET IN UK, BY COMPONENT, 
2019–2026 (USD MILLION)	113
TABLE 71	OFFSHORE WIND MARKET IN UK FOR BY TURBINES, BY MODULE,  
2019–2026 (USD MILLION)	113
TABLE 72	OFFSHORE WIND MARKET IN UK FOR SUBSTRUCTURE, BY TYPE,  
2019–2026 (USD MILLION)	113
TABLE 73	OFFSHORE WIND MARKET IN UK FOR ELECTRICAL INFRASTRUCTURE, 
BY TYPE,  2019–2026 (USD MILLION)	114
TABLE 74	OFFSHORE WIND MARKET IN UK, BY LOCATION, 2019–2026 (USD MILLION)	114
8.3.6.3	Denmark	115
8.3.6.3.1	High government support and developed market for offshore winds to create lucrative opportunities for 
market players	115
TABLE 75	OFFSHORE WIND MARKET IN DENMARK, BY COMPONENT, 
2019–2026 (USD MILLION)	115
TABLE 76	OFFSHORE WIND MARKET IN DENMARK FOR TURBINES, BY MODULE,  
2019–2026 (USD MILLION)	115
TABLE 77	OFFSHORE WIND MARKET IN DENMARK FOR SUBSTRUCTURE, BY TYPE,  2019–2026 (USD MILLION)	116
TABLE 78	OFFSHORE WIND MARKET IN DENMARK FOR ELECTRICAL INFRASTRUCTURE, BY TYPE, 2019–2026 (USD MILLION)	116
TABLE 79	OFFSHORE WIND MARKET IN DENMARK, BY LOCATION, 
2019–2026 (USD MILLION)	117
8.3.6.4	Belgium	117
8.3.6.4.1	Commercial lending to drive growth of offshore wind market	117
TABLE 80	OFFSHORE WIND MARKET IN BELGIUM, BY COMPONENT, 
2019–2026 (USD MILLION)	117
TABLE 81	OFFSHORE WIND MARKET IN BELGIUM FOR TURBINE, BY MODULE,  
2019–2026 (USD MILLION)	118
TABLE 82	OFFSHORE WIND MARKET IN BELGIUM FOR SUBSTRUCTURE, BY TYPE,  2019–2026 (USD MILLION)	118
TABLE 83	OFFSHORE WIND MARKET IN BELGIUM FOR ELECTRICAL INFRASTRUCTURE, BY TYPE, 2019–2026 (USD MILLION)	118
TABLE 84	OFFSHORE WIND MARKET IN BELGIUM, BY LOCATION, 
2019–2026 (USD MILLION)	119
8.3.6.5	Netherlands	119
8.3.6.5.1	High government support to drive growth of offshore 
wind market	119
TABLE 85	OFFSHORE WIND MARKET IN NETHERLANDS, BY COMPONENT,  
2019–2026 (USD MILLION)	120
TABLE 86	OFFSHORE WIND MARKET IN NETHERLANDS FOR TURBINE, BY MODULE,  2019–2026 (USD MILLION)	120
TABLE 87	OFFSHORE WIND MARKET IN NETHERLANDS FOR SUBSTRUCTURE, BY TYPE,  2019–2026 (USD MILLION)	120
TABLE 88	OFFSHORE WIND MARKET IN NETHERLANDS FOR ELECTRICAL INFRASTRUCTURE,  BY TYPE, 2019–2026 (USD MILLION)	121
TABLE 89	OFFSHORE WIND MARKET IN NETHERLANDS, BY LOCATION, 
2019–2026 (USD MILLION)	121
8.3.6.6	Sweden	122
8.3.6.6.1	Government-led plans to achieve 100% renewable energy by 2040 to drive growth of offshore wind market	122
TABLE 90	OFFSHORE WIND MARKET IN SWEDEN, BY COMPONENT, 
2019–2026 (USD MILLION)	122
TABLE 91	OFFSHORE WIND MARKET IN SWEDEN FOR TURBINES, BY MODULE,  
2019–2026 (USD MILLION)	122
TABLE 92	OFFSHORE WIND MARKET IN SWEDEN FOR SUBSTRUCTURE, BY TYPE,  2019–2026 (USD MILLION)	122
TABLE 93	OFFSHORE WIND MARKET IN SWEDEN FOR ELECTRICAL INFRASTRUCTURE, BY TYPE, 2019–2026 (USD MILLION)	123
TABLE 94	OFFSHORE WIND MARKET IN SWEDEN, BY LOCATION, 
2019–2026 (USD MILLION)	123
8.3.6.7	Finland	124
8.3.6.7.1	Government initiatives to develop offshore wind industry to boost market growth	124
TABLE 95	OFFSHORE WIND MARKET IN FINLAND, BY COMPONENT, 
2019–2026 (USD MILLION)	124
TABLE 96	OFFSHORE WIND MARKET IN FINLAND FOR TURBINES, BY MODULE,  
2019–2026 (USD MILLION)	124
TABLE 97	OFFSHORE WIND MARKET IN FINLAND FOR SUBSTRUCTURE, BY TYPE,  2019–2026 (USD MILLION)	124
TABLE 98	OFFSHORE WIND MARKET IN FINLAND FOR ELECTRICAL INFRASTRUCTURE, BY TYPE, 2019–2026 (USD MILLION)	125
TABLE 99	OFFSHORE WIND MARKET IN FINLAND, BY LOCATION, 
2019–2026 (USD MILLION)	125
8.3.6.8	Ireland	126
8.3.6.8.1	Upcoming offshore wind projects to help country achieve its renewable energy goals and drive market growth	126
TABLE 100	OFFSHORE WIND MARKET IN IRELAND, BY COMPONENT, 
2019–2026 (USD MILLION)	126
TABLE 101	OFFSHORE WIND MARKET IN IRELAND FOR TURBINES, BY MODULE,  
2019–2026 (USD MILLION)	126
TABLE 102	OFFSHORE WIND MARKET IN IRELAND FOR SUBSTRUCTURE, 
BY TYPE,  2019–2026 (USD MILLION)	126
TABLE 103	OFFSHORE WIND MARKET IN IRELAND FOR ELECTRICAL INFRASTRUCTURE, BY TYPE, 2019–2026 (USD MILLION)	127
TABLE 104	OFFSHORE WIND MARKET IN IRELAND, BY LOCATION, 
2019–2026 (USD MILLION)	127
8.3.6.9	Rest of Europe	128
TABLE 105	OFFSHORE WIND MARKET IN REST OF EUROPE, BY COMPONENT,  
2019–2026 (USD MILLION)	128
TABLE 106	OFFSHORE WIND MARKET IN REST OF EUROPE FOR TURBINES, BY MODULE,  2019–2026 (USD MILLION)	128
TABLE 107	OFFSHORE WIND MARKET IN REST OF EUROPE FOR SUBSTRUCTURE, 
BY TYPE,  2019–2026 (USD MILLION)	128
TABLE 108	OFFSHORE WIND MARKET IN REST OF EUROPE FOR ELECTRICAL INFRASTRUCTURE,  BY TYPE, 2019–2026 (USD MILLION)	129
TABLE 109	OFFSHORE WIND MARKET IN REST OF EUROPE, BY LOCATION,  
2019–2026 (USD MILLION)	129
8.4	NORTH AMERICA	130
FIGURE 41	NORTH AMERICA: MARKET SNAPSHOT, 2020	130
8.4.1	BY COMPONENT	131
TABLE 110	OFFSHORE WIND MARKET IN NORTH AMERICA, BY COMPONENT,  
2019–2026 (USD MILLION)	131
8.4.2	BY TURBINES	131
TABLE 111	OFFSHORE WIND MARKET IN NORTH AMERICA FOR TURBINES, BY MODULE,  2019–2026 (USD MILLION)	131
8.4.3	BY SUBSTRUCTURE	131
TABLE 112	OFFSHORE WIND MARKET IN NORTH AMERICA FOR SUBSTRUCTURE, 
BY TYPE,  2019–2026 (USD MILLION)	131
8.4.4	BY ELECTRICAL INFRASTRUCTURE	132
TABLE 113	OFFSHORE WIND MARKET IN NORTH AMERICA FOR ELECTRICAL INFRASTRUCTURE,  BY TYPE, 2019–2026 (USD MILLION)	132
8.4.5	BY LOCATION	132
TABLE 114	OFFSHORE WIND MARKET IN NORTH AMERICA, BY LOCATION,  
2019–2026 (USD MILLION)	132
 
8.4.6	BY COUNTRY	133
TABLE 115	OFFSHORE WIND MARKET IN NORTH AMERICA, BY COUNTRY, 
2019–2026 (USD MILLION)	133
8.4.6.1	US	133
8.4.6.1.1	Favorable government policies to drive growth of US offshore wind market	133
TABLE 116	OFFSHORE WIND MARKET IN US, BY COMPONENT, 
2019–2026 (USD MILLION)	133
TABLE 117	OFFSHORE WIND MARKET IN US FOR TURBINES, BY MODULE,  
2019–2026 (USD MILLION)	134
TABLE 118	OFFSHORE WIND MARKET IN US FOR SUBSTRUCTURE, BY TYPE,  
2019–2026 (USD MILLION)	134
TABLE 119	OFFSHORE WIND MARKET IN US FOR ELECTRICAL INFRASTRUCTURE, 
BY TYPE, 2019–2026 (USD MILLION)	134
TABLE 120	OFFSHORE WIND MARKET IN US, BY LOCATION, 2019–2026 (USD MILLION)	135
9	COMPETITIVE LANDSCAPE	136
9.1	OVERVIEW	136
TABLE 121	OVERVIEW OF TOP PLAYERS, JANUARY 2017–JULY 2021	136
9.2	MARKET SHARE ANALYSIS	137
TABLE 122	OFFSHORE WIND MARKET: DEGREE OF COMPETITION	137
FIGURE 42	LEADING PLAYERS IN OFFSHORE WIND MARKET	138
9.3	MARKET EVALUATION FRAMEWORK	139
TABLE 123	MARKET EVALUATION FRAMEWORK	139
9.4	COMPETITIVE SCENARIO	140
TABLE 124	OFFSHORE WIND MARKET: PRODUCT LAUNCHES, JANUARY 2017–JULY 2021	140
TABLE 125	OFFSHORE WIND MARKET: DEALS, JANUARY 2017–JULY 2021	141
TABLE 126	OFFSHORE WIND MARKET: OTHERS, JANUARY 2017–JULY 2021	143
9.5	COMPANY EVALUATION QUADRANT	144
9.5.1	STAR	144
9.5.2	EMERGING LEADER	144
9.5.3	PERVASIVE	144
9.5.4	PARTICIPANT	144
FIGURE 43	COMPETITIVE LEADERSHIP MAPPING: OFFSHORE WIND MARKET, 2020	145
9.5.5	COMPANY FOOTPRINT	145
TABLE 127	COMPANY FOOTPRINT	145
TABLE 128	COMPANY COMPONENT FOOTPRINT	147
TABLE 129	COMPANY LOCATION FOOTPRINT	148
TABLE 130	COMPANY REGIONAL FOOTPRINT	149
 
10	COMPANY PROFILES	150
10.1	MAJOR PLAYERS	150
(Business overview, Products/solutions offered, Recent Developments, MNM view)*
10.1.1	GENERAL ELECTRIC	150
TABLE 131	GENERAL ELECTRIC: COMPANY OVERVIEW	150
FIGURE 44	GENERAL ELECTRIC: COMPANY SNAPSHOT	151
TABLE 132	GENERAL ELECTRIC: PRODUCTS/SOLUTIONS OFFERED	152
TABLE 133	GENERAL ELECTRIC: PRODUCT LAUNCHES	152
TABLE 134	GENERAL ELECTRIC: DEALS	153
TABLE 135	GENERAL ELECTRIC: OTHERS	154
10.1.2	VESTAS	156
TABLE 136	VESTAS: COMPANY OVERVIEW	156
FIGURE 45	VESTAS: COMPANY SNAPSHOT	157
TABLE 137	VESTAS: PRODUCTS/SOLUTIONS OFFERED	157
TABLE 138	VESTAS: PRODUCT LAUNCHES	159
TABLE 139	VESTAS: DEALS	159
TABLE 140	VESTAS: OTHERS	162
10.1.3	SIEMENS GAMESA	164
TABLE 141	SIEMENS GAMESA: COMPANY OVERVIEW	164
FIGURE 46	SIEMENS GAMESA: COMPANY SNAPSHOT	165
TABLE 142	SIEMENS GAMESA: PRODUCTS/SOLUTIONS OFFERED	165
TABLE 143	SIEMENS GAMESA: PRODUCT LAUNCHES	166
TABLE 144	SIEMENS GAMESA: DEALS	167
10.1.4	ABB	171
TABLE 145	ABB: COMPANY OVERVIEW	171
FIGURE 47	ABB: COMPANY SNAPSHOT	172
TABLE 146	ABB: PRODUCTS/SOLUTIONS OFFERED	172
TABLE 147	ABB: DEALS	174
10.1.5	GOLDWIND	176
TABLE 148	GOLDWIND: COMPANY OVERVIEW	176
FIGURE 48	GOLDWIND: COMPANY SNAPSHOT	177
TABLE 149	GOLDWIND: PRODUCTS/SOLUTIONS OFFERED	178
TABLE 150	GOLDWIND: PRODUCT LAUNCHES	179
TABLE 151	GOLDWIND: DEALS	179
10.1.6	DOOSAN HEAVY INDUSTRIES AND CONSTRUCTION	181
TABLE 152	DOOSAN HEAVY INDUSTRIES AND CONSTRUCTION: COMPANY OVERVIEW	181
FIGURE 49	DOOSAN HEAVY INDUSTRIES AND CONSTRUCTION: COMPANY SNAPSHOT	182
TABLE 153	DOOSAN HEAVY INDUSTRIES AND CONSTRUCTION: PRODUCTS/SOLUTIONS OFFERED	182
TABLE 154	DOOSAN HEAVY INDUSTRIES AND CONSTRUCTION	183
10.1.7	NORDEX	185
TABLE 155	NORDEX: COMPANY OVERVIEW	185
FIGURE 50	NORDEX SE: COMPANY SNAPSHOT	186
TABLE 156	NORDEX: PRODUCTS/SOLUTIONS OFFERED	186
TABLE 157	NORDEX: DEALS	187
10.1.8	SHANGHAI ELECTRIC WIND POWER EQUIPMENT CO.	188
TABLE 158	SHANGHAI ELECTRIC WIND POWER EQUIPMENT CO.: COMPANY OVERVIEW	188
FIGURE 51	SHANGHAI ELECTRIC WIND POWER EQUIPMENT CO.: COMPANY SNAPSHOT	189
TABLE 159	SHANGHAI ELECTRIC WIND POWER EQUIPMENT CO.: PRODUCTS/
SOLUTIONS OFFERED	189
TABLE 160	SHANGHAI ELECTRIC WIND POWER EQUIPMENT CO.: PRODUCT LAUNCHED	190
TABLE 161	SHANGHAI ELECTRIC WIND POWER EQUIPMENT CO.: DEALS	191
10.1.9	EEW GROUP	192
TABLE 162	EEW GROUP: COMPANY OVERVIEW	192
TABLE 163	EEW GROUP: PRODUCTS/SOLUTIONS OFFERED	192
TABLE 164	EEW GROUP: DEALS	193
10.1.10	NEXANS	195
TABLE 165	NEXANS: COMPANY OVERVIEW	195
FIGURE 52	NEXANS: COMPANY SNAPSHOT	196
TABLE 166	NEXANS: PRODUCTS/SOLUTIONS OFFERED	196
TABLE 167	NEXANS: PRODUCT LAUNCHES	198
TABLE 168	NEXANS: DEALS	198
10.1.11	DEME	201
TABLE 169	DEME: COMPANY OVERVIEW	201
FIGURE 53	DEME: COMPANY SNAPSHOT	202
TABLE 170	DEME: PRODUCTS/SOLUTIONS OFFERED	202
TABLE 171	DEME: DEALS	203
10.1.12	HITACHI	207
TABLE 172	HITACHI: COMPANY OVERVIEW	207
FIGURE 54	HITACHI: COMPANY SNAPSHOT	208
TABLE 173	HITACHI: PRODUCTS/SOLUTIONS OFFERED	208
TABLE 174	HITACHI: DEALS	209
10.1.13	MING YANG SMART ENERGY GROUP CO.	211
TABLE 175	MING YANG SMART ENERGY GROUP CO.: COMPANY OVERVIEW	211
TABLE 176	MING YANG SMART ENERGY GROUP CO.: PRODUCTS/SOLUTIONS OFFERED	211
TABLE 177	MING YANG SMART ENERGY GROUP CO.: PRODUCT LAUNCHES	212
TABLE 178	MING YANG SMART ENERGY GROUP CO.: DEALS	212
10.1.14	ENVISION ENERGY	214
TABLE 179	ENVISION: COMPANY OVERVIEW	214
TABLE 180	ENVISION: PRODUCTS/SOLUTIONS OFFERED	214
TABLE 181	ENVISION: DEALS	214
10.1.15	ROCKWELL AUTOMATION	215
TABLE 182	ROCKWELL AUTOMATION: COMPANY OVERVIEW	215
FIGURE 55	ROCKWELL AUTOMATION: COMPANY SNAPSHOT	216
TABLE 183	ROCKWELL AUTOMATION: PRODUCTS/SOLUTIONS OFFERED	216
TABLE 184	ROCKWELL AUTOMATION: DEALS	217
10.2	OTHER KEY PLAYERS	218
10.2.1	HYUNDAI MOTOR GROUP	218
TABLE 185	HYUNDAI MOTOR GROUP COMPANY SNAPSHOT	218
10.2.2	SCHNEIDER ELECTRIC	219
TABLE 186	SCHNEIDER ELECTRIC COMPANY SNAPSHOT	219
10.2.3	ZHEJIANG WINDEY CO	219
TABLE 187	ZHEJIANG WINDEY CO COMPANY SNAPSHOT	219
10.2.4	TAIYUAN HEAVY INDUSTRY CO., LTD	220
TABLE 188	TAIYUAN HEAVY INDUSTRY CO., LTD COMPANY SNAPSHOT	220
10.2.5	SINOVEL	220
TABLE 189	SINOVEL COMPANY SNAPSHOT	220
*Details on Business overview, Products/solutions offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
11	ADJACENT & RELATED MARKETS	221
11.1	INTRODUCTION	221
11.2	LIMITATIONS	221
11.3	OFFSHORE WIND TURBINE EQUIPMENT MARKET	221
11.3.1	MARKET DEFINITION	221
11.3.2	LIMITATIONS	222
TABLE 190	OFFSHORE WIND TURBINE MARKET, BY UNITS (CUMULATIVE), 
2017–2030 (UNIT)	222
TABLE 191	OFFSHORE WIND TURBINE MARKET, BY UNITS (NEW INSTALLATION),  
2017–2030 (UNIT)	222
TABLE 192	OFFSHORE WIND TURBINE MARKET, BY OFFSHORE WIND POWER CAPACITY (CUMULATIVE CAPACITY-), 2017–2030 (MW)	222
TABLE 193	OFFSHORE WIND TURBINE MARKET, BY OFFSHORE WIND POWER CAPACITY (NEW INSTALLATION-), 2017–2030 (MW)	223
TABLE 194	FARM DATA ALONG WITH NUMBER OF WIND POWER COLLECTION  TRANSFORMERS (2018)	223
TABLE 195	NUMBER OF  OFFSHORE INSTALLED WIND TURBINE UNITS 
BY COUNTRY (2018)	224
12	APPENDIX	225
12.1	INSIGHTS OF INDUSTRY EXPERTS	225
12.2	DISCUSSION GUIDE	226
12.3	KNOWLEDGE STORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL	229
12.4	AVAILABLE CUSTOMIZATIONS	231
12.5	RELATED REPORTS	231
12.6	AUTHOR DETAILS	232
			        
			  
               
                 
    
        
            
          
              
               
                        
                        
          
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			       1	INTRODUCTION	15
1.1	STUDY OBJECTIVES	15
1.2	DEFINITION	15
1.2.1	ARTIFICIAL PHOTOSYNTHESIS MARKET: INCLUSIONS AND EXCLUSIONS	16
1.3	MARKET SCOPE	16
1.3.1	MARKET SEGMENTATION	16
1.3.2	REGIONS COVERED	16
1.3.3	YEARS CONSIDERED	17
1.4	CURRENCY	17
1.5	LIMITATIONS	17
1.6	STAKEHOLDERS	18
2	RESEARCH METHODOLOGY	19
2.1	RESEARCH DATA	19
FIGURE 1	ARTIFICIAL PHOTOSYNTHESIS MARKET: RESEARCH DESIGN	19
2.2	MARKET BREAKDOWN AND DATA TRIANGULATION	20
FIGURE 2	DATA TRIANGULATION METHODOLOGY	20
2.2.1	SECONDARY DATA	21
2.2.1.1	Key data from secondary sources	21
2.2.2	PRIMARY DATA	21
2.2.2.1	Key data from primary sources	22
2.2.2.2	Breakdown of primaries	22
2.3	MARKET SIZE ESTIMATION	23
2.3.1	SUPPLY-SIDE ANALYSIS	23
2.3.1.1	Assumptions of supply-side analysis	23
2.3.1.2	Calculation of supply-side analysis	23
2.3.2	DEMAND-SIDE ANALYSIS	23
2.3.2.1	Assumptions for demand-side analysis	23
2.3.2.2	Limitation for demand-side analysis	24
2.3.2.3	Calculation of demand-side analysis	24
2.3.3	FORECAST	24
3	EXECUTIVE SUMMARY	25
TABLE 1	ARTIFICIAL PHOTOSYNTHESIS MARKET SNAPSHOT	25
FIGURE 3	ASIA PACIFIC HELD LARGEST SHARE OF ARTIFICIAL PHOTOSYNTHESIS  MARKET IN 2021	26
FIGURE 4	DURING 2018–2022, MOST-USED STRATEGY BY COMPANIES IN ARTIFICIAL PHOTOSYNTHESIS MARKET WAS COLLABORATIONS	26
 
4	PREMIUM INSIGHTS	27
4.1	ATTRACTIVE OPPORTUNITIES IN ARTIFICIAL PHOTOSYNTHESIS MARKET	27
FIGURE 5	GROWING DEMAND FOR GREEN H2 AND ECO-FRIENDLY LIQUID FUELS TO BOOST MARKET GROWTH BETWEEN 2022 AND 2030	27
4.2	ARTIFICIAL PHOTOSYNTHESIS MARKET, BY REGION	28
FIGURE 6	ARTIFICIAL PHOTOSYNTHESIS MARKET IN NORTH AMERICA TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD	28
5	MARKET OVERVIEW	29
5.1	INTRODUCTION	29
5.2	MARKET DYNAMICS	30
FIGURE 7	ARTIFICIAL PHOTOSYNTHESIS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES	30
FIGURE 8	ENERGY-RELATED CO2 EMISSIONS, 1990–2019 (GT CO2)	31
5.3	PATENT ANALYSIS	33
TABLE 2	ARTIFICIAL PHOTOSYNTHESIS: INNOVATIONS AND PATENT REGISTRATIONS,  JUNE 2017–FEBRUARY 2022	33
5.4	CASE STUDY ANALYSIS	34
5.4.1	US AIR FORCE PLANS FOR TRANSITION TO SUSTAINABLE AVIATION FUEL	34
5.4.1.1	Problem statement	34
5.4.1.2	Solution	34
5.4.2	PROCTOR AND GAMBLE’S OATH FOR CARBON NEUTRALITY BY 2040	34
5.4.2.1	Problem statement	34
5.4.2.2	Solution	34
5.5	KEY CONFERENCES AND EVENTS IN 2022 & 2023	34
TABLE 3	ARTIFICIAL PHOTOSYNTHESIS: DETAILED LIST OF CONFERENCES & EVENTS	34
5.6	GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS	36
TABLE 4	GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS	36
5.7	TECHNOLOGICAL ANALYSIS	37
5.8	TRENDS/DISRUPTIONS IMPACTING VARIOUS PROBABLE END USERS	38
FIGURE 9	REVENUE SHIFT FOR ARTIFICIAL PHOTOSYNTHESIS PROVIDERS	38
5.9	ECOSYSTEM	38
TABLE 5	ARTIFICIAL PHOTOSYNTHESIS MARKET: ECOSYSTEM	38
5.10	INDICATIVE PRICING ANALYSIS	39
TABLE 6	AVERAGE PRICE OF TITANIUM DIOXIDE, BY REGION, QUARTER ENDING DECEMBER 2021	39
6	ARTIFICIAL PHOTOSYNTHESIS MARKET, BY APPLICATION	40
6.1	INTRODUCTION	41
6.2	HYDROCARBONS	41
6.3	HYDROGEN	42
6.4	CHEMICALS	42
7	ARTIFICIAL PHOTOSYNTHESIS MARKET, BY TECHNOLOGY	43
7.1	INTRODUCTION	44
7.2	PHOTO-ELECTRO CATALYSIS	44
7.3	CO-ELECTROLYSIS	44
7.4	OTHERS	44
7.4.1	NANOTECHNOLOGY	44
7.4.2	HYBRID PROCESS	45
8	GEOGRAPHICAL ANALYSIS	46
8.1	INTRODUCTION	47
FIGURE 11	REGIONAL SNAPSHOT: ARTIFICIAL PHOTOSYNTHESIS MARKET IN NORTH AMERICA TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD	47
FIGURE 12	ARTIFICIAL PHOTOSYNTHESIS MARKET SHARE (VALUE), BY REGION, 2021	47
TABLE 7	ARTIFICIAL PHOTOSYNTHESIS MARKET, BY REGION, 
2020–2030 (USD THOUSAND)	48
8.2	NORTH AMERICA	48
FIGURE 13	NORTH AMERICA: REGIONAL SNAPSHOT	48
TABLE 8	ARTIFICIAL PHOTOSYNTHESIS PROJECTS IN NORTH AMERICA	49
8.2.1	BY COUNTRY	49
TABLE 9	ARTIFICIAL PHOTOSYNTHESIS MARKET IN NORTH AMERICA, BY COUNTRY,  2020–2030 (USD THOUSAND)	49
8.2.1.1	US	50
8.2.1.1.1	Growing demand for clean energy generation and emphasis on R&D of artificial photosynthesis technology	50
8.2.1.1.2	Macro factors	50
TABLE 10	US: HYDROGEN PRODUCTION CAPACITY AT REFINERIES, 2013–2017 (MILLION STANDARD CUBIC FEET PER DAY)	50
TABLE 11	US: GREENHOUSE GAS EMISSIONS, 2013–2017 (MILLION TONS OF CO2)	50
8.2.1.2	Canada	50
8.2.1.2.1	Increasing demand for green hydrogen is driving research activities for artificial photosynthesis	50
8.2.1.2.2	Macro factors	51
TABLE 12	CANADA: HYDROGEN PRODUCTION CAPACITY AT REFINERIES,  
2013–2017 (MILLION STANDARD CUBIC FEET PER DAY)	51
TABLE 13	CANADA: GREENHOUSE GAS EMISSIONS, 2013–2017 
(MILLION TONS OF CO2)	51
8.3	ASIA PACIFIC	51
FIGURE 14	ASIA PACIFIC: REGIONAL SNAPSHOT	52
TABLE 14	ARTIFICIAL PHOTOSYNTHESIS PROJECTS IN ASIA PACIFIC	52
8.3.1	BY COUNTRY	53
TABLE 15	ARTIFICIAL PHOTOSYNTHESIS MARKET IN ASIA PACIFIC, BY COUNTRY,  2020–2030 (USD THOUSAND)	53
8.3.1.1	China	53
8.3.1.1.1	Growing research and development activities for sustainable hydrogen generation	53
8.3.1.1.2	Macro factors	53
TABLE 16	CHINA: HYDROGEN PRODUCTION CAPACITY AT REFINERIES, 
2013–2017  (THOUSAND STANDARD CUBIC FEET PER DAY)	53
TABLE 17	CHINA: GREENHOUSE GAS EMISSIONS, 2013–2017 
(THOUSAND TONS OF CO2)	53
8.3.1.2	Japan	54
8.3.1.2.1	Increasing funding by national R&D agency for establishing large-scale hydrogen supply chain	54
8.3.1.2.2	Macro factors	54
TABLE 18	JAPAN: HYDROGEN PRODUCTION CAPACITY AT REFINERIES, 2013–2017 (THOUSAND STANDARD CUBIC FEET PER DAY)	54
TABLE 19	JAPAN: GREENHOUSE GAS EMISSIONS, 2013–2017 
(THOUSAND TONS OF CO2)	54
8.3.1.3	South Korea	54
8.3.1.3.1	Surging investments by government supporting hydrogen generation technologies	54
8.3.1.3.2	Macro factors	55
TABLE 20	SOUTH KOREA: HYDROGEN PRODUCTION CAPACITY AT REFINERIES, 
2013–2017 (THOUSAND STANDARD CUBIC FEET PER DAY)	55
8.3.1.4	India	55
8.3.1.4.1	Rising focus of Government of India to increase share of renewables	55
8.3.1.4.2	Macro factors	55
TABLE 21	INDIA: HYDROGEN PRODUCTION CAPACITY AT REFINERIES, 2013–2017 (THOUSAND STANDARD CUBIC FEET PER DAY)	55
TABLE 22	INDIA: GREENHOUSE GAS EMISSIONS, 2013–2017 
(THOUSAND TONS OF CO2)	55
8.4	EUROPE	56
TABLE 23	ARTIFICIAL PHOTOSYNTHESIS PROJECTS IN EUROPE	56
8.4.1	BY COUNTRY	57
TABLE 24	ARTIFICIAL PHOTOSYNTHESIS MARKET IN EUROPE, BY COUNTRY,  
2020–2030 (USD THOUSAND)	57
8.4.1.1	Germany	57
8.4.1.1.1	Growing investments in R&D activities for artificial photosynthesis	57
8.4.1.1.2	Macro factors	58
TABLE 25	GERMANY: HYDROGEN PRODUCTION CAPACITY AT REFINERIES, 
2013–2017 (THOUSAND STANDARD CUBIC FEET PER DAY)	58
TABLE 26	GERMANY: GREENHOUSE GAS EMISSIONS, 2013–2017 
(THOUSAND TONS OF CO2)	58
8.4.1.2	France	58
8.4.1.2.1	Surging use of renewable energy sources for sustainable development	58
8.4.1.2.2	Macro factors	58
TABLE 27	FRANCE: HYDROGEN PRODUCTION CAPACITIES AT REFINERIES, 
2013–2017 (MILLION STANDARD CUBIC FEET PER DAY)	58
TABLE 28	FRANCE: GREENHOUSE GAS EMISSIONS, 2013–2017 
(MILLION TONS OF CO2)	58
8.4.1.3	Italy	59
8.4.1.3.1	Surging adoption of green technologies to curb carbon emission	59
8.4.1.3.2	Macro factors	59
TABLE 29	ITALY: HYDROGEN PRODUCTION CAPACITY AT REFINERIES, 
2013–2017  (THOUSAND STANDARD CUBIC FEET PER DAY)	59
8.4.1.4	Spain	59
8.4.1.4.1	Rising expenditure on R&D activities on artificial photosynthesis	59
8.4.1.4.2	Macro factors	60
TABLE 30	SPAIN: HYDROGEN PRODUCTION CAPACITY AT REFINERIES, 
2013–2017 (THOUSAND STANDARD CUBIC FEET PER DAY)	60
8.4.1.5	Rest of Europe	60
8.4.1.5.1	Macro factors	60
TABLE 31	REST OF EUROPE: HYDROGEN PRODUCTION CAPACITY AT REFINERIES, 
BY COUNTRY, 2013–2017 (THOUSAND STANDARD CUBIC FEET PER DAY)	60
8.5	REST OF THE WORLD	61
8.5.1	MACRO FACTORS	61
TABLE 32	REST OF WORLD: HYDROGEN PRODUCTION CAPACITY AT REFINERIES, 
BY COUNTRY, 2013–2017 (THOUSAND STANDARD CUBIC FEET PER DAY)	61
9	COMPETITIVE LANDSCAPE	62
9.1	OVERVIEW	62
9.2	COMPETITIVE SCENARIO & TRENDS	62
TABLE 33	ARTIFICIAL PHOTOSYNTHESIS MARKET: DEALS, JANUARY 2016– 
FEBRUARY 2022	62
TABLE 34	ARTIFICIAL PHOTOSYNTHESIS MARKET: OTHERS JANUARY 2016–
FEBRUARY 2022	63
9.3	RECENT MARKET DEVELOPMENTS	63
TABLE 35	KEY DEVELOPMENTS IN ARTIFICIAL PHOTOSYNTHESIS MARKET, 
JANUARY  2012–FEBRUARY 2022	63
9.4	INDUSTRY CONCENTRATION	65
9.5	COMPANY EVALUATION QUADRANT	65
9.5.1	STAR	65
9.5.2	PERVASIVE	65
9.5.3	EMERGING LEADER	65
9.5.4	PARTICIPANT	66
FIGURE 16	COMPETITIVE LEADERSHIP MAPPING: ARTIFICIAL PHOTOSYNTHESIS  MARKET, 2020	66
TABLE 36	ARTIFICIAL PHOTOSYNTHESIS: COMPANY FOOTPRINT	67
TABLE 37	COMPETITIVE BENCHMARKING: DETAILED LIST OF KEY PLAYERS	67
9.6	COMPANY PRODUCT COVERAGE	68
TABLE 38	ARTIFICIAL PHOTOSYNTHESIS: COMPANY PRODUCT COVERAGE	68
10	COMPANY PROFILES	69
(Business overview, Products offered, Recent Developments, MNM view)*
10.1	ORIGINAL EQUIPMENT MANUFACTURERS	69
10.1.1	ENGIE	69
TABLE 39	ENGIE: BUSINESS OVERVIEW	69
FIGURE 17	ENGIE: COMPANY SNAPSHOT 2020	70
TABLE 40	ENGIE: DEALS	70
10.1.2	PANASONIC CORPORATION	72
TABLE 41	PANASONIC CORPORATION: BUSINESS OVERVIEW	72
FIGURE 18	PANASONIC CORPORATION: COMPANY SNAPSHOT 2020	73
TABLE 42	PANASONIC CORPORATION: OTHERS	73
10.1.3	FUJITSU	75
TABLE 43	FUJITSU: BUSINESS OVERVIEW	75
FIGURE 19	FUJITSU: COMPANY SNAPSHOT 2020	76
TABLE 44	FUJITSU: DEALS	76
10.1.4	MITSUBISHI CHEMICAL CORPORATION	78
TABLE 45	MITSUBISHI CHEMICAL CORPORATION: BUSINESS OVERVIEW	78
TABLE 46	MITSUBISHI CHEMICAL CORPORATION: DEALS	78
10.1.5	TOSHIBA CORPORATION	79
TABLE 47	TOSHIBA CORPORATION: BUSINESS OVERVIEW	79
FIGURE 20	TOSHIBA CORPORATION: COMPANY SNAPSHOT 2020	80
TABLE 48	TOSHIBA CORPORATION: OTHERS	80
10.1.6	TOYOTA CENTRAL R&D LABS., INC.	81
TABLE 49	TOYOTA CENTRAL R&D LABS., INC.: BUSINESS OVERVIEW	81
TABLE 50	TOYOTA CENTRAL R&D LABS., INC.: OTHERS	81
10.1.7	SIEMENS ENERGY	82
TABLE 51	SIEMENS ENERGY: BUSINESS OVERVIEW	82
FIGURE 21	SIEMENS ENERGY: COMPANY SNAPSHOT 2020	83
TABLE 52	SIEMENS ENERGY: DEALS	83
10.1.8	FUJIFILM CORPORATION	85
TABLE 53	FUJIFILM CORPORATION: BUSINESS OVERVIEW	85
TABLE 54	FUJIFILM CORPORATION: DEALS	85
10.1.9	TWELVE (FORMERLY KNOWN AS, OPUS 12)	86
TABLE 55	TWELVE (FORMERLY KNOWN AS, OPUS 12): BUSINESS OVERVIEW	86
TABLE 56	TWELVE (FORMERLY KNOWN AS, OPUS 12): DEALS	86
10.1.10	EVONIK INDUSTRIES AG	88
TABLE 57	EVONIK INDUSTRIES AG: BUSINESS OVERVIEW	88
FIGURE 22	EVONIK INDUSTRIES AG: COMPANY SNAPSHOT 2020	89
TABLE 58	EVONIK INDUSTRIES AG: OTHERS	89
 
10.2	R&D INSTITUTES	91
10.2.1	BERKELEY LAB	91
TABLE 59	BERKELEY LAB: OVERVIEW	91
TABLE 60	BERKELEY LAB: DEALS	91
10.2.2	DEUTSCHE AKADEMIE DER NATURFORSCHER LEOPOLDINA	93
TABLE 61	DEUTSCHE AKADEMIE DER NATURFORSCHER LEOPOLDINA: OVERVIEW	93
TABLE 62	DEUTSCHE AKADEMIE DER NATURFORSCHER LEOPOLDINA: OTHERS	93
10.2.3	INDIAN INSTITUTE OF SCIENCE(IISC)	94
TABLE 63	INDIAN INSTITUTE OF SCIENCE (IISC): OVERVIEW	94
10.2.4	CENTER FOR HYBRID APPROACHES IN SOLAR ENERGY TO LIQUID 
FUELS (CHASE)	95
TABLE 64	CENTER FOR HYBRID APPROACHES IN SOLAR ENERGY TO LIQUID FUELS (CHASE): OVERVIEW	95
TABLE 65	CENTER FOR HYBRID APPROACHES IN SOLAR ENERGY TO LIQUID FUELS (CHASE): DEALS	95
10.2.5	ICIQ	96
TABLE 66	ICIQ: OVERVIEW	96
10.2.6	NEW ENERGY AND INDUSTRIAL TECHNOLOGY DEVELOPMENT ORGANIZATION	97
TABLE 67	NEW ENERGY AND INDUSTRIAL TECHNOLOGY DEVELOPMENT ORGANIZATION: OVERVIEW	97
TABLE 68	NEW ENERGY AND INDUSTRIAL TECHNOLOGY DEVELOPMENT ORGANIZATION: DEALS	97
10.2.7	UNIVERSITY OF TORONTO	98
10.2.8	THE UNIVERSITY OF PAU AND PAYS DE L’ADOUR	99
10.2.9	UNIVERSITY OF BOLOGNA	100
*Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
11	APPENDIX	101
11.1	INSIGHTS OF INDUSTRY EXPERTS	101
11.2	DISCUSSION GUIDE	102
11.3	KNOWLEDGE STORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL	105
11.4	AVAILABLE CUSTOMIZATIONS	107
11.5	RELATED REPORTS	107
11.6	AUTHOR DETAILS	108
			       1	INTRODUCTION	15
1.1	STUDY OBJECTIVES	15
1.2	DEFINITION	15
1.2.1	ARTIFICIAL PHOTOSYNTHESIS MARKET: INCLUSIONS AND EXCLUSIONS	16
1.3	MARKET SCOPE	16
1.3.1	MARKET SEGMENTATION	16
1.3.2	REGIONS COVERED	16
1.3.3	YEARS CONSIDERED	17
1.4	CURRENCY	17
1.5	LIMITATIONS	17
1.6	STAKEHOLDERS	18
2	RESEARCH METHODOLOGY	19
2.1	RESEARCH DATA	19
FIGURE 1	ARTIFICIAL PHOTOSYNTHESIS MARKET: RESEARCH DESIGN	19
2.2	MARKET BREAKDOWN AND DATA TRIANGULATION	20
FIGURE 2	DATA TRIANGULATION METHODOLOGY	20
2.2.1	SECONDARY DATA	21
2.2.1.1	Key data from secondary sources	21
2.2.2	PRIMARY DATA	21
2.2.2.1	Key data from primary sources	22
2.2.2.2	Breakdown of primaries	22
2.3	MARKET SIZE ESTIMATION	23
2.3.1	SUPPLY-SIDE ANALYSIS	23
2.3.1.1	Assumptions of supply-side analysis	23
2.3.1.2	Calculation of supply-side analysis	23
2.3.2	DEMAND-SIDE ANALYSIS	23
2.3.2.1	Assumptions for demand-side analysis	23
2.3.2.2	Limitation for demand-side analysis	24
2.3.2.3	Calculation of demand-side analysis	24
2.3.3	FORECAST	24
3	EXECUTIVE SUMMARY	25
TABLE 1	ARTIFICIAL PHOTOSYNTHESIS MARKET SNAPSHOT	25
FIGURE 3	ASIA PACIFIC HELD LARGEST SHARE OF ARTIFICIAL PHOTOSYNTHESIS  MARKET IN 2021	26
FIGURE 4	DURING 2018–2022, MOST-USED STRATEGY BY COMPANIES IN ARTIFICIAL PHOTOSYNTHESIS MARKET WAS COLLABORATIONS	26
 
4	PREMIUM INSIGHTS	27
4.1	ATTRACTIVE OPPORTUNITIES IN ARTIFICIAL PHOTOSYNTHESIS MARKET	27
FIGURE 5	GROWING DEMAND FOR GREEN H2 AND ECO-FRIENDLY LIQUID FUELS TO BOOST MARKET GROWTH BETWEEN 2022 AND 2030	27
4.2	ARTIFICIAL PHOTOSYNTHESIS MARKET, BY REGION	28
FIGURE 6	ARTIFICIAL PHOTOSYNTHESIS MARKET IN NORTH AMERICA TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD	28
5	MARKET OVERVIEW	29
5.1	INTRODUCTION	29
5.2	MARKET DYNAMICS	30
FIGURE 7	ARTIFICIAL PHOTOSYNTHESIS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES	30
FIGURE 8	ENERGY-RELATED CO2 EMISSIONS, 1990–2019 (GT CO2)	31
5.3	PATENT ANALYSIS	33
TABLE 2	ARTIFICIAL PHOTOSYNTHESIS: INNOVATIONS AND PATENT REGISTRATIONS,  JUNE 2017–FEBRUARY 2022	33
5.4	CASE STUDY ANALYSIS	34
5.4.1	US AIR FORCE PLANS FOR TRANSITION TO SUSTAINABLE AVIATION FUEL	34
5.4.1.1	Problem statement	34
5.4.1.2	Solution	34
5.4.2	PROCTOR AND GAMBLE’S OATH FOR CARBON NEUTRALITY BY 2040	34
5.4.2.1	Problem statement	34
5.4.2.2	Solution	34
5.5	KEY CONFERENCES AND EVENTS IN 2022 & 2023	34
TABLE 3	ARTIFICIAL PHOTOSYNTHESIS: DETAILED LIST OF CONFERENCES & EVENTS	34
5.6	GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS	36
TABLE 4	GOVERNMENT AGENCIES AND OTHER ORGANIZATIONS	36
5.7	TECHNOLOGICAL ANALYSIS	37
5.8	TRENDS/DISRUPTIONS IMPACTING VARIOUS PROBABLE END USERS	38
FIGURE 9	REVENUE SHIFT FOR ARTIFICIAL PHOTOSYNTHESIS PROVIDERS	38
5.9	ECOSYSTEM	38
TABLE 5	ARTIFICIAL PHOTOSYNTHESIS MARKET: ECOSYSTEM	38
5.10	INDICATIVE PRICING ANALYSIS	39
TABLE 6	AVERAGE PRICE OF TITANIUM DIOXIDE, BY REGION, QUARTER ENDING DECEMBER 2021	39
6	ARTIFICIAL PHOTOSYNTHESIS MARKET, BY APPLICATION	40
6.1	INTRODUCTION	41
6.2	HYDROCARBONS	41
6.3	HYDROGEN	42
6.4	CHEMICALS	42
7	ARTIFICIAL PHOTOSYNTHESIS MARKET, BY TECHNOLOGY	43
7.1	INTRODUCTION	44
7.2	PHOTO-ELECTRO CATALYSIS	44
7.3	CO-ELECTROLYSIS	44
7.4	OTHERS	44
7.4.1	NANOTECHNOLOGY	44
7.4.2	HYBRID PROCESS	45
8	GEOGRAPHICAL ANALYSIS	46
8.1	INTRODUCTION	47
FIGURE 11	REGIONAL SNAPSHOT: ARTIFICIAL PHOTOSYNTHESIS MARKET IN NORTH AMERICA TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD	47
FIGURE 12	ARTIFICIAL PHOTOSYNTHESIS MARKET SHARE (VALUE), BY REGION, 2021	47
TABLE 7	ARTIFICIAL PHOTOSYNTHESIS MARKET, BY REGION, 
2020–2030 (USD THOUSAND)	48
8.2	NORTH AMERICA	48
FIGURE 13	NORTH AMERICA: REGIONAL SNAPSHOT	48
TABLE 8	ARTIFICIAL PHOTOSYNTHESIS PROJECTS IN NORTH AMERICA	49
8.2.1	BY COUNTRY	49
TABLE 9	ARTIFICIAL PHOTOSYNTHESIS MARKET IN NORTH AMERICA, BY COUNTRY,  2020–2030 (USD THOUSAND)	49
8.2.1.1	US	50
8.2.1.1.1	Growing demand for clean energy generation and emphasis on R&D of artificial photosynthesis technology	50
8.2.1.1.2	Macro factors	50
TABLE 10	US: HYDROGEN PRODUCTION CAPACITY AT REFINERIES, 2013–2017 (MILLION STANDARD CUBIC FEET PER DAY)	50
TABLE 11	US: GREENHOUSE GAS EMISSIONS, 2013–2017 (MILLION TONS OF CO2)	50
8.2.1.2	Canada	50
8.2.1.2.1	Increasing demand for green hydrogen is driving research activities for artificial photosynthesis	50
8.2.1.2.2	Macro factors	51
TABLE 12	CANADA: HYDROGEN PRODUCTION CAPACITY AT REFINERIES,  
2013–2017 (MILLION STANDARD CUBIC FEET PER DAY)	51
TABLE 13	CANADA: GREENHOUSE GAS EMISSIONS, 2013–2017 
(MILLION TONS OF CO2)	51
8.3	ASIA PACIFIC	51
FIGURE 14	ASIA PACIFIC: REGIONAL SNAPSHOT	52
TABLE 14	ARTIFICIAL PHOTOSYNTHESIS PROJECTS IN ASIA PACIFIC	52
8.3.1	BY COUNTRY	53
TABLE 15	ARTIFICIAL PHOTOSYNTHESIS MARKET IN ASIA PACIFIC, BY COUNTRY,  2020–2030 (USD THOUSAND)	53
8.3.1.1	China	53
8.3.1.1.1	Growing research and development activities for sustainable hydrogen generation	53
8.3.1.1.2	Macro factors	53
TABLE 16	CHINA: HYDROGEN PRODUCTION CAPACITY AT REFINERIES, 
2013–2017  (THOUSAND STANDARD CUBIC FEET PER DAY)	53
TABLE 17	CHINA: GREENHOUSE GAS EMISSIONS, 2013–2017 
(THOUSAND TONS OF CO2)	53
8.3.1.2	Japan	54
8.3.1.2.1	Increasing funding by national R&D agency for establishing large-scale hydrogen supply chain	54
8.3.1.2.2	Macro factors	54
TABLE 18	JAPAN: HYDROGEN PRODUCTION CAPACITY AT REFINERIES, 2013–2017 (THOUSAND STANDARD CUBIC FEET PER DAY)	54
TABLE 19	JAPAN: GREENHOUSE GAS EMISSIONS, 2013–2017 
(THOUSAND TONS OF CO2)	54
8.3.1.3	South Korea	54
8.3.1.3.1	Surging investments by government supporting hydrogen generation technologies	54
8.3.1.3.2	Macro factors	55
TABLE 20	SOUTH KOREA: HYDROGEN PRODUCTION CAPACITY AT REFINERIES, 
2013–2017 (THOUSAND STANDARD CUBIC FEET PER DAY)	55
8.3.1.4	India	55
8.3.1.4.1	Rising focus of Government of India to increase share of renewables	55
8.3.1.4.2	Macro factors	55
TABLE 21	INDIA: HYDROGEN PRODUCTION CAPACITY AT REFINERIES, 2013–2017 (THOUSAND STANDARD CUBIC FEET PER DAY)	55
TABLE 22	INDIA: GREENHOUSE GAS EMISSIONS, 2013–2017 
(THOUSAND TONS OF CO2)	55
8.4	EUROPE	56
TABLE 23	ARTIFICIAL PHOTOSYNTHESIS PROJECTS IN EUROPE	56
8.4.1	BY COUNTRY	57
TABLE 24	ARTIFICIAL PHOTOSYNTHESIS MARKET IN EUROPE, BY COUNTRY,  
2020–2030 (USD THOUSAND)	57
8.4.1.1	Germany	57
8.4.1.1.1	Growing investments in R&D activities for artificial photosynthesis	57
8.4.1.1.2	Macro factors	58
TABLE 25	GERMANY: HYDROGEN PRODUCTION CAPACITY AT REFINERIES, 
2013–2017 (THOUSAND STANDARD CUBIC FEET PER DAY)	58
TABLE 26	GERMANY: GREENHOUSE GAS EMISSIONS, 2013–2017 
(THOUSAND TONS OF CO2)	58
8.4.1.2	France	58
8.4.1.2.1	Surging use of renewable energy sources for sustainable development	58
8.4.1.2.2	Macro factors	58
TABLE 27	FRANCE: HYDROGEN PRODUCTION CAPACITIES AT REFINERIES, 
2013–2017 (MILLION STANDARD CUBIC FEET PER DAY)	58
TABLE 28	FRANCE: GREENHOUSE GAS EMISSIONS, 2013–2017 
(MILLION TONS OF CO2)	58
8.4.1.3	Italy	59
8.4.1.3.1	Surging adoption of green technologies to curb carbon emission	59
8.4.1.3.2	Macro factors	59
TABLE 29	ITALY: HYDROGEN PRODUCTION CAPACITY AT REFINERIES, 
2013–2017  (THOUSAND STANDARD CUBIC FEET PER DAY)	59
8.4.1.4	Spain	59
8.4.1.4.1	Rising expenditure on R&D activities on artificial photosynthesis	59
8.4.1.4.2	Macro factors	60
TABLE 30	SPAIN: HYDROGEN PRODUCTION CAPACITY AT REFINERIES, 
2013–2017 (THOUSAND STANDARD CUBIC FEET PER DAY)	60
8.4.1.5	Rest of Europe	60
8.4.1.5.1	Macro factors	60
TABLE 31	REST OF EUROPE: HYDROGEN PRODUCTION CAPACITY AT REFINERIES, 
BY COUNTRY, 2013–2017 (THOUSAND STANDARD CUBIC FEET PER DAY)	60
8.5	REST OF THE WORLD	61
8.5.1	MACRO FACTORS	61
TABLE 32	REST OF WORLD: HYDROGEN PRODUCTION CAPACITY AT REFINERIES, 
BY COUNTRY, 2013–2017 (THOUSAND STANDARD CUBIC FEET PER DAY)	61
9	COMPETITIVE LANDSCAPE	62
9.1	OVERVIEW	62
9.2	COMPETITIVE SCENARIO & TRENDS	62
TABLE 33	ARTIFICIAL PHOTOSYNTHESIS MARKET: DEALS, JANUARY 2016– 
FEBRUARY 2022	62
TABLE 34	ARTIFICIAL PHOTOSYNTHESIS MARKET: OTHERS JANUARY 2016–
FEBRUARY 2022	63
9.3	RECENT MARKET DEVELOPMENTS	63
TABLE 35	KEY DEVELOPMENTS IN ARTIFICIAL PHOTOSYNTHESIS MARKET, 
JANUARY  2012–FEBRUARY 2022	63
9.4	INDUSTRY CONCENTRATION	65
9.5	COMPANY EVALUATION QUADRANT	65
9.5.1	STAR	65
9.5.2	PERVASIVE	65
9.5.3	EMERGING LEADER	65
9.5.4	PARTICIPANT	66
FIGURE 16	COMPETITIVE LEADERSHIP MAPPING: ARTIFICIAL PHOTOSYNTHESIS  MARKET, 2020	66
TABLE 36	ARTIFICIAL PHOTOSYNTHESIS: COMPANY FOOTPRINT	67
TABLE 37	COMPETITIVE BENCHMARKING: DETAILED LIST OF KEY PLAYERS	67
9.6	COMPANY PRODUCT COVERAGE	68
TABLE 38	ARTIFICIAL PHOTOSYNTHESIS: COMPANY PRODUCT COVERAGE	68
10	COMPANY PROFILES	69
(Business overview, Products offered, Recent Developments, MNM view)*
10.1	ORIGINAL EQUIPMENT MANUFACTURERS	69
10.1.1	ENGIE	69
TABLE 39	ENGIE: BUSINESS OVERVIEW	69
FIGURE 17	ENGIE: COMPANY SNAPSHOT 2020	70
TABLE 40	ENGIE: DEALS	70
10.1.2	PANASONIC CORPORATION	72
TABLE 41	PANASONIC CORPORATION: BUSINESS OVERVIEW	72
FIGURE 18	PANASONIC CORPORATION: COMPANY SNAPSHOT 2020	73
TABLE 42	PANASONIC CORPORATION: OTHERS	73
10.1.3	FUJITSU	75
TABLE 43	FUJITSU: BUSINESS OVERVIEW	75
FIGURE 19	FUJITSU: COMPANY SNAPSHOT 2020	76
TABLE 44	FUJITSU: DEALS	76
10.1.4	MITSUBISHI CHEMICAL CORPORATION	78
TABLE 45	MITSUBISHI CHEMICAL CORPORATION: BUSINESS OVERVIEW	78
TABLE 46	MITSUBISHI CHEMICAL CORPORATION: DEALS	78
10.1.5	TOSHIBA CORPORATION	79
TABLE 47	TOSHIBA CORPORATION: BUSINESS OVERVIEW	79
FIGURE 20	TOSHIBA CORPORATION: COMPANY SNAPSHOT 2020	80
TABLE 48	TOSHIBA CORPORATION: OTHERS	80
10.1.6	TOYOTA CENTRAL R&D LABS., INC.	81
TABLE 49	TOYOTA CENTRAL R&D LABS., INC.: BUSINESS OVERVIEW	81
TABLE 50	TOYOTA CENTRAL R&D LABS., INC.: OTHERS	81
10.1.7	SIEMENS ENERGY	82
TABLE 51	SIEMENS ENERGY: BUSINESS OVERVIEW	82
FIGURE 21	SIEMENS ENERGY: COMPANY SNAPSHOT 2020	83
TABLE 52	SIEMENS ENERGY: DEALS	83
10.1.8	FUJIFILM CORPORATION	85
TABLE 53	FUJIFILM CORPORATION: BUSINESS OVERVIEW	85
TABLE 54	FUJIFILM CORPORATION: DEALS	85
10.1.9	TWELVE (FORMERLY KNOWN AS, OPUS 12)	86
TABLE 55	TWELVE (FORMERLY KNOWN AS, OPUS 12): BUSINESS OVERVIEW	86
TABLE 56	TWELVE (FORMERLY KNOWN AS, OPUS 12): DEALS	86
10.1.10	EVONIK INDUSTRIES AG	88
TABLE 57	EVONIK INDUSTRIES AG: BUSINESS OVERVIEW	88
FIGURE 22	EVONIK INDUSTRIES AG: COMPANY SNAPSHOT 2020	89
TABLE 58	EVONIK INDUSTRIES AG: OTHERS	89
 
10.2	R&D INSTITUTES	91
10.2.1	BERKELEY LAB	91
TABLE 59	BERKELEY LAB: OVERVIEW	91
TABLE 60	BERKELEY LAB: DEALS	91
10.2.2	DEUTSCHE AKADEMIE DER NATURFORSCHER LEOPOLDINA	93
TABLE 61	DEUTSCHE AKADEMIE DER NATURFORSCHER LEOPOLDINA: OVERVIEW	93
TABLE 62	DEUTSCHE AKADEMIE DER NATURFORSCHER LEOPOLDINA: OTHERS	93
10.2.3	INDIAN INSTITUTE OF SCIENCE(IISC)	94
TABLE 63	INDIAN INSTITUTE OF SCIENCE (IISC): OVERVIEW	94
10.2.4	CENTER FOR HYBRID APPROACHES IN SOLAR ENERGY TO LIQUID 
FUELS (CHASE)	95
TABLE 64	CENTER FOR HYBRID APPROACHES IN SOLAR ENERGY TO LIQUID FUELS (CHASE): OVERVIEW	95
TABLE 65	CENTER FOR HYBRID APPROACHES IN SOLAR ENERGY TO LIQUID FUELS (CHASE): DEALS	95
10.2.5	ICIQ	96
TABLE 66	ICIQ: OVERVIEW	96
10.2.6	NEW ENERGY AND INDUSTRIAL TECHNOLOGY DEVELOPMENT ORGANIZATION	97
TABLE 67	NEW ENERGY AND INDUSTRIAL TECHNOLOGY DEVELOPMENT ORGANIZATION: OVERVIEW	97
TABLE 68	NEW ENERGY AND INDUSTRIAL TECHNOLOGY DEVELOPMENT ORGANIZATION: DEALS	97
10.2.7	UNIVERSITY OF TORONTO	98
10.2.8	THE UNIVERSITY OF PAU AND PAYS DE L’ADOUR	99
10.2.9	UNIVERSITY OF BOLOGNA	100
*Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
11	APPENDIX	101
11.1	INSIGHTS OF INDUSTRY EXPERTS	101
11.2	DISCUSSION GUIDE	102
11.3	KNOWLEDGE STORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL	105
11.4	AVAILABLE CUSTOMIZATIONS	107
11.5	RELATED REPORTS	107
11.6	AUTHOR DETAILS	108
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			       1	INTRODUCTION	28
1.1	STUDY OBJECTIVES	28
1.2	DEFINITION	28
1.3	INCLUSIONS AND EXCLUSIONS	29
1.3.1	SOLID OXIDE FUEL CELL MARKET, BY APPLICATION	29
1.3.2	SOLID OXIDE FUEL CELL MARKET, BY END USER	29
1.4	MARKET SCOPE	30
1.4.1	SOLID OXIDE FUEL CELL MARKET SEGMENTATION	30
1.4.2	REGIONAL SCOPE	30
1.5	YEARS CONSIDERED	31
1.6	CURRENCY	31
1.7	LIMITATIONS	31
1.8	STAKEHOLDERS	32
1.9	SUMMARY OF CHANGES	32
2	RESEARCH METHODOLOGY	34
2.1	RESEARCH DATA	34
FIGURE 1	SOLID OXIDE FUEL CELL MARKET: RESEARCH DESIGN	35
2.2	MARKET BREAKDOWN AND DATA TRIANGULATION	36
FIGURE 2	DATA TRIANGULATION METHODOLOGY	36
2.2.1	SECONDARY DATA	37
2.2.2	PRIMARY DATA	37
2.2.2.1	Key insights from primary sources	38
2.2.2.2	Breakdown of primaries	39
2.3	MARKET SIZE ESTIMATION	39
2.3.1	BOTTOM-UP APPROACH	39
FIGURE 3	SOLID OXIDE FUEL CELL MARKET: INDUSTRY-/REGION- WISE ANALYSIS	40
2.3.2	TOP-DOWN APPROACH	40
FIGURE 4	SOLID OXIDE FUEL CELL MARKET: TOP-DOWN APPROACH	41
2.3.3	DEMAND SIDE METRICS	42
FIGURE 5	MAIN METRICS CONSIDERED FOR ANALYZING DEMAND FOR SOLID OXIDE FUEL CELLS	42
2.3.3.1	Regional analysis	42
2.3.3.2	Country analysis	42
2.3.3.3	Demand-side key assumptions	43
2.3.3.4	Demand-side calculation	43
2.3.4	SUPPLY-SIDE ANALYSIS	44
FIGURE 6	KEY METRICS CONSIDERED FOR ASSESSING SUPPLY OF SOLID OXIDE FUEL CELLS	44
FIGURE 7	SOLID OXIDE FUEL CELL MARKET: SUPPLY-SIDE ANALYSIS	45
2.3.4.1	Calculations for supply side	45
2.3.4.2	Assumptions for supply side	45
FIGURE 8	SOLID OXIDE FUEL CELL MARKET: MARKET SHARE ANALYSIS	46
2.4	FORECAST	46
3	EXECUTIVE SUMMARY	47
TABLE 1	SOLID OXIDE FUEL CELL MARKET SNAPSHOT	47
FIGURE 9	NORTH AMERICA HELD LARGEST SHARE OF SOLID OXIDE FUEL CELL MARKET IN 2021	48
FIGURE 10	PLANAR SEGMENT EXPECTED TO DOMINATE SOLID OXIDE FUEL CELL MARKET, BY TYPE, 2022–2027	49
FIGURE 11	STATIONARY SEGMENT EXPECTED TO LEAD SOLID OXIDE FUEL CELL MARKET, BY APPLICATION, 2022–2027	49
FIGURE 12	COMMERCIAL & INDUSTRIAL SEGMENT EXPECTED TO LEAD SOLID OXIDE FUEL CELL MARKET, BY END USER, 2020–2027	50
4	PREMIUM INSIGHTS	51
4.1	ATTRACTIVE OPPORTUNITIES IN SOLID OXIDE FUEL CELL MARKET	51
FIGURE 13	INCREASING DEMAND FOR CLEAN POWER GENERATION TO BOOST MARKET GROWTH FROM 2022 TO 2027	51
4.2	SOLID OXIDE FUEL CELL MARKET, BY REGION	52
FIGURE 14	SOLID OXIDE FUEL CELL MARKET TO EXHIBIT HIGHEST CAGR IN ASIA PACIFC DURING FORECAST PERIOD	52
4.3	NORTH AMERICA SOLID OXIDE FUEL CELL MARKET, BY END USER AND COUNTRY	52
FIGURE 15	COMMERCIAL & INDUSTRIAL END USER AND US HELD LARGEST SHARES OF SOLID OXIDE FUEL CELL MARKET IN NORTH AMERICA IN 2021	52
4.4	SOLID OXIDE FUEL CELL MARKET, BY TYPE	53
FIGURE 16	PLANAR SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE, BY TYPE, IN 2027	53
4.5	SOLID OXIDE FUEL CELL MARKET, BY APPLICATION	53
FIGURE 17	STATIONARY SEGMENT TO ACCOUNT FOR LARGEST SHARE OF SOLID OXIDE FUEL CELL MARKET, BY APPLICATION, IN 2027	53
4.6	SOLID OXIDE FUEL CELL MARKET, BY END USER	54
FIGURE 18	COMMERCIAL & INDUSTRIAL SEGMENT TO DOMINATE SOLID OXIDE FUEL CELL MARKET, BY END USER, IN 2027	54
5	MARKET OVERVIEW	55
5.1	INTRODUCTION	55
5.2	COVID-19 HEALTH ASSESSMENT	55
FIGURE 19	GLOBAL PROPAGATION OF COVID-19	56
FIGURE 20	PROPAGATION OF COVID-19 CASES IN SELECTED COUNTRIES	56
5.3	COVID-19 ECONOMIC ASSESSMENT	57
FIGURE 21	COMPARISON OF GDP FOR SELECTED G20 COUNTRIES IN 2020	57
5.4	MARKET DYNAMICS	58
FIGURE 22	SOLID OXIDE FUEL CELL MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES	58
5.4.1	DRIVERS	58
5.4.1.1	Government subsidies and increased R&D on fuel cell programs	58
5.4.1.2	Fuel flexibility and increasing demand for energy-efficient power generation	59
5.4.1.3	Stringent emission norms in Europe and North America leading to demand for clean energy sources	59
FIGURE 23	ENERGY-RELATED CO2 EMISSIONS, 1990–2019 (GT CO2)	60
5.4.2	RESTRAINTS	60
5.4.2.1	High fuel cell installation and manufacturing costs	60
5.4.2.2	Development of other types of fuel cells	60
5.4.2.3	Storage issues associated with hydrogen as fuel for SOFCs	60
5.4.3	OPPORTUNITIES	61
5.4.3.1	Rising distributed power generation applications across regions	61
TABLE 2	COMPARISON OF FUEL CELLS AND OTHER DISTRIBUTED POWER GENERATION SOURCES	61
5.4.3.2	Increasing adoption by end users in data centers and military sector	61
5.4.4	CHALLENGES	62
5.4.4.1	High operating temperatures and start-up time of SOFCs	62
5.4.4.2	Rise in investments in alternative clean technologies	62
FIGURE 24	RISE IN GLOBAL INVESTMENTS IN RENEWABLE ENERGY	62
5.4.4.3	High ceramic interconnect cost and degradation at high temperatures	63
5.5	IMPACT OF COVID-19	63
5.6	TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS	64
FIGURE 25	REVENUE SHIFT FOR SOLID OXIDE FUEL CELL PROVIDERS	64
5.7	MARKET MAP	65
FIGURE 26	MARKET MAP: SOLID OXIDE FUEL CELL MARKET	65
TABLE 3	SOLID OXIDE FUEL CELL MARKET: ROLE IN ECOSYSTEM	65
5.8	VALUE CHAIN ANALYSIS	66
FIGURE 27	VALUE CHAIN ANALYSIS: SOLID OXIDE FUEL CELL MARKET	67
5.8.1	COMPONENT MANUFACTURERS	67
5.8.2	ASSEMBLERS/MANUFACTURERS	67
5.8.3	DISTRIBUTORS (BUYERS)/END USERS	67
5.9	PRICING ANALYSIS	68
TABLE 4	SOLID OXIDE FUEL CELL MARKET: AVERAGE SELLING PRICES AND COST BREAK-UP OF SOFC STACK MANUFACTURING	68
TABLE 5	SOLID OXIDE FUEL CELL MARKET: SOLID OXIDE FUEL CELL APU BALANCE OF PLANT COST BREAKUP	69
FIGURE 28	SOFC STACK MANUFACTURING COST PER KW AS MEASURE OF NUMBER OF STACKS & SYSTEM SIZE	69
5.10	TARIFFS AND REGULATORY LANDSCAPE	70
5.10.1	REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	70
TABLE 6	NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	70
TABLE 7	EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	71
TABLE 8	ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	71
5.10.2	REGULATIONS RELATED TO SOLID OXIDE FUEL CELLS	71
5.10.2.1	Regulatory framework in North America	71
5.10.2.2	Regulatory framework in Europe	72
5.10.2.3	Regulatory framework in Asia Pacific	72
5.11	PATENT ANALYSIS	73
TABLE 9	SOLID OXIDE FUEL CELL: INNOVATIONS AND PATENT REGISTRATIONS, JUNE 2017–FEBRUARY 2022	73
5.12	CASE STUDY ANALYSIS	74
5.12.1	IKEA USES FUEL CELLS FOR ON-SITE POWER GENERATION	74
5.12.1.1	Problem statement	74
5.12.1.2	Solution	74
5.12.2	SAMSUNG HEAVY INDUSTRIES PLANS FOR CLEAN POWER SHIPS UNDER JOINT DEVELOPMENT AGREEMENT WITH BLOOM ENERGY	75
5.12.2.1	Problem statement	75
5.12.2.2	Solution	75
5.13	TECHNOLOGICAL ANALYSIS	75
5.13.1	DEVELOPMENT OF HYBRID SOFC TECHNOLOGIES	76
5.14	KEY CONFERENCES AND EVENTS IN 2022 & 2023	77
TABLE 10	SOLID OXIDE FUEL CELL MARKET: DETAILED LIST OF CONFERENCES & EVENTS	77
5.15	MATERIAL ANALYSIS	78
FIGURE 29	CLASSIFICATION OF SOLID OXIDE FUEL CELL MARKET BY OPERATING TEMPERATURE	78
TABLE 11	SOLID OXIDE FUEL CELL MARKET: CURRENT SCENARIO OF MATERIAL SELECTION	79
TABLE 12	SOLID OXIDE FUEL CELL MARKET: TYPES OF SOFC SUPPORT STRUCTURES	80
FIGURE 30	SOLID OXIDE FUEL CELL MARKET: EFFECT OF CATHODE LAYER THICKNESS ON PERFORMANCE	81
TABLE 13	SOLID OXIDE FUEL CELL MARKET: INTECONNECT COATINGS	81
TABLE 14	SOLID OXIDE FUEL CELL MARKET: UPCOMING MATERIAL TRENDS	83
5.16	PORTER’S FIVE FORCES ANALYSIS	83
FIGURE 31	PORTER’S FIVE FORCES ANALYSIS FOR SOLID OXIDE FUEL CELL MARKET	84
TABLE 15	SOLID OXIDE FUEL CELL MARKET: PORTER’S FIVE FORCES ANALYSIS	84
6	SOLID OXIDE FUEL CELL MARKET, BY TYPE	87
6.1	INTRODUCTION	88
FIGURE 32	SOLID OXIDE FUEL CELL MARKET SHARE, BY TYPE, 2021	88
TABLE 16	SOLID OXIDE FUEL CELL MARKET BY TYPE, 2020–2027 (USD MILLION)	88
6.2	PLANAR	89
6.2.1	USE OF SIMPLE GEOMETRY AND RELATIVELY EASIER CONSTRUCTION PROCESS ARE PROPELLING GROWTH OF PLANAR SOFC SEGMENT	89
TABLE 17	PLANAR SOLID OXIDE FUEL CELL MARKET, BY REGION, 
2020–2027 (USD MILLION)	89
6.3	TUBULAR	89
6.3.1	RAPID START-UP CAPABILITIES AND HIGH POWER DENSITIES OF TUBULAR SOFCS ARE LIKELY TO DRIVE MARKET GROWTH	89
TABLE 18	TUBULAR SOLID OXIDE FUEL CELL MARKET, BY REGION, 
2020–2027 (USD MILLION)	90
7	SOLID OXIDE FUEL CELL MARKET, BY APPLICATION	91
7.1	INTRODUCTION	92
FIGURE 33	SOLID OXIDE FUEL CELL MARKET SHARE, BY APPLICATION, 2021	92
TABLE 19	SOLID OXIDE FUEL CELL MARKET, BY APPLICATION, 
2020–2027 (USD MILLION)	92
7.2	PORTABLE	93
7.2.1	PORTABLE SOLID OXIDE FUEL CELLS ARE MAINLY USED BY MILITARY ORGANIZATIONS	93
TABLE 20	PORTABLE: SOLID OXIDE FUEL CELL MARKET, BY REGION, 
2020–2027 (USD MILLION)	93
7.3	STATIONARY	94
7.3.1	STATIONARY SOLID OXIDE FUEL CELLS ARE WELL SUITED FOR STATIONARY POWER GENERATION	94
TABLE 21	STATIONARY: SOLID OXIDE FUEL CELL MARKET, BY REGION, 
2020–2027 (USD MILLION)	94
7.4	TRANSPORT	95
7.4.1	INCREASE IN DEVELOPMENT OF SOFCS FOR OPERATING HEAVY-DUTY VEHICLES TO DRIVE MARKET GROWTH	95
TABLE 22	TRANSPORT: SOLID OXIDE FUEL CELL MARKET, BY REGION, 
2020–2027 (USD MILLION)	96
8	SOLID OXIDE FUEL CELL MARKET, BY END USER	97
8.1	INTRODUCTION	98
FIGURE 34	SOLID OXIDE FUEL CELL MARKET SHARE, BY END USER, 2021	98
TABLE 23	SOLID OXIDE FUEL CELL MARKET, BY END USER, 2020–2027 (USD MILLION)	98
8.2	RESIDENTIAL	99
8.2.1	RISING NEED FOR ENERGY REDUCTION AND ENERGY EFFICIENCY IN RESIDENTIAL AREAS IS LIKELY TO DRIVE GROWTH OF RESIDENTIAL SEGMENT	99
TABLE 24	RESIDENTIAL: SOLID OXIDE FUEL CELL MARKET, BY REGION, 
2020–2027 (USD MILLION)	99
8.3	COMMERCIAL & INDUSTRIAL	100
8.3.1	NEED TO DECREASE CARBON EMISSION & INCREASING INVESTMENTS IN SHIPPING INDUSTRY LIKELY TO BOOST GROWTH OF COMMERCIAL & INDUSTRIAL SEGMENT	100
TABLE 25	COMMERCIAL & INDUSTRIAL: SOLID OXIDE FUEL CELL MARKET, BY REGION, 2020–2027 (USD MILLION)	101
8.4	DATA CENTERS	101
8.4.1	GROWING NEED FOR BACK-UP POWER IN DATA CENTERS DURING OUTAGES TO SPUR GROWTH OF DATA CENTER SEGMENT	101
TABLE 26	DATA CENTERS: SOLID OXIDE FUEL CELL MARKET, BY REGION, 
2020–2027 (USD MILLION)	102
8.5	MILITARY & DEFENSE	102
8.5.1	HIGHER EFFICIENCIES OF SOFC SPUR DEMAND FOR SOLID OXIDE FUEL CELLS FOR MILITARY MISSIONS	102
TABLE 27	MILITARY & DEFENSE: SOLID OXIDE FUEL CELL MARKET, BY REGION, 
2020–2027 (MILLION)	103
9	GEOGRAPHIC ANALYSIS	104
9.1	INTRODUCTION	105
FIGURE 35	REGIONAL SNAPSHOT: ASIA PACIFIC IS EXPECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD	105
FIGURE 36	SOLID OXIDE FUEL CELL MARKET, BY COUNTRY, 2021	105
TABLE 28	SOLID OXIDE FUEL CELL MARKET, BY REGION, 2020–2027 (USD MILLION)	106
TABLE 29	SOLID OXIDE FUEL CELL MARKET, BY REGION, 2020–2027 (MW)	106
9.2	NORTH AMERICA	107
FIGURE 37	SNAPSHOT: SOLID OXIDE FUEL CELL MARKET IN NORTH AMERICA, 
2021–2027	107
9.2.1	BY COUNTRY	108
TABLE 30	SOLID OXIDE FUEL CELL IN NORTH AMERICA, BY COUNTRY, 
2020–2027 (USD MILLION)	108
TABLE 31	SOLID OXIDE FUEL CELL IN NORTH AMERICA, BY COUNTRY, 
2020–2027 (MW)	108
9.2.2	BY TYPE	108
TABLE 32	SOLID OXIDE FUEL CELL MARKET IN NORTH AMERICA, BY TYPE, 
2020–2027 (USD MILLION)	108
TABLE 33	SOLID OXIDE FUEL CELL FOR PLANAR IN NORTH AMERICA, BY COUNTRY, 2020–2027 (USD MILLION)	108
TABLE 34	SOLID OXIDE FUEL CELL FOR TUBULAR IN NORTH AMERICA, BY COUNTRY, 2020–2027 (USD MILLION)	109
9.2.3	BY APPLICATION	109
TABLE 35	SOLID OXIDE FUEL CELL MARKET IN NORTH AMERICA, BY APPLICATION, 2020–2027 (USD MILLION)	109
TABLE 36	SOLID OXIDE FUEL CELL FOR PORTABLE IN NORTH AMERICA, BY COUNTRY, 2020–2027 (USD MILLION)	109
TABLE 37	SOLID OXIDE FUEL CELL FOR STATIONARY IN NORTH AMERICA, BY COUNTRY, 2020–2027 (USD MILLION)	110
TABLE 38	SOLID OXIDE FUEL CELL FOR TRANSPORT NORTH AMERICA, BY COUNTRY, 2020–2027 (USD MILLION)	110
9.2.4	BY END USER	110
TABLE 39	SOLID OXIDE FUEL CELL MARKET IN NORTH AMERICA, BY END USER, 
2020–2027 (USD MILLION)	110
TABLE 40	SOLID OXIDE FUEL CELL FOR RESIDENTIAL IN NORTH AMERICA, BY COUNTRY, 2020–2027 (USD MILLION)	111
TABLE 41	SOLID OXIDE FUEL CELL FOR COMMERCIAL & INDUSTRIAL IN NORTH AMERICA, BY COUNTRY, 2020–2027 (USD MILLION)	111
TABLE 42	SOLID OXIDE FUEL CELL FOR DATA CENTERS IN NORTH AMERICA, 
BY COUNTRY, 2020–2027 (USD MILLION)	111
TABLE 43	SOLID OXIDE FUEL CELL FOR MILITARY & DEFENSE IN NORTH AMERICA, 
BY COUNTRY, 2020–2027 (USD MILLION)	112
9.2.4.1	US	112
9.2.4.1.1	Growing demand for clean energy generation and emphasis on R&D of SOFC technology are driving market growth in US	112
TABLE 44	SOLID OXIDE FUEL CELL MARKET IN US, BY TYPE, 2020–2027 (USD MILLION)	113
TABLE 45	SOLID OXIDE FUEL CELL MARKET IN US, BY APPLICATION, 
2020–2027 (USD MILLION)	113
TABLE 46	SOLID OXIDE FUEL CELL MARKET IN US, BY END USER, 
2020–2027 (USD MILLION)	113
9.2.4.2	Canada	114
9.2.4.2.1	Government policies advocating use of SOFC technology to provide lucrative opportunities for solid oxide fuel cell market growth in Canada	114
TABLE 47	SOLID OXIDE FUEL CELL MARKET IN CANADA, BY TYPE, 
2020–2027 (USD MILLION)	114
TABLE 48	SOLID OXIDE FUEL CELL MARKET IN CANADA, BY APPLICATION, 
2020–2027 (USD MILLION)	115
TABLE 49	SOLID OXIDE FUEL CELL MARKET IN CANADA, BY END USER, 
2020–2027 (USD MILLION)	115
9.3	ASIA PACIFIC	116
FIGURE 38	SNAPSHOT: SOLID OXIDE FUEL CELL MARKET IN ASIA PACIFIC, 2021–2027	117
9.3.1	BY COUNTRY	117
TABLE 50	SOLID OXIDE FUEL CELL MARKET IN ASIA PACIFIC, BY COUNTRY, 
2020–2027 (USD MILLION)	117
TABLE 51	SOLID OXIDE FUEL CELL MARKET IN ASIA PACIFIC, BY COUNTRY, 
2020–2027 (MW)	118
9.3.2	BY TYPE	118
TABLE 52	SOLID OXIDE FUEL CELL MARKET IN ASIA PACIFIC, BY TYPE, 
2020–2027 (USD MILLION)	118
TABLE 53	SOLID OXIDE FUEL CELL MARKET FOR PLANAR IN ASIA PACIFIC, 
BY COUNTRY, 2020–2027 (USD MILLION)	118
TABLE 54	SOLID OXIDE FUEL CELL MARKET FOR TUBULAR IN ASIA PACIFIC, 
BY COUNTRY, 2020–2027 (USD MILLION)	119
9.3.3	BY APPLICATION	119
TABLE 55	SOLID OXIDE FUEL CELL MARKET IN ASIA PACIFIC, BY APPLICATION, 
2020–2027 (USD MILLION)	119
TABLE 56	SOLID OXIDE FUEL CELL MARKET FOR PORTABLE IN ASIA PACIFIC, 
BY COUNTRY, 2020–2027 (USD MILLION)	119
TABLE 57	SOLID OXIDE FUEL CELL MARKET FOR STATIONARY IN ASIA PACIFIC, 
BY COUNTRY, 2020–2027 (USD MILLION)	120
TABLE 58	SOLID OXIDE FUEL CELL MARKET FOR TRANSPORT IN ASIA PACIFIC, 
BY COUNTRY, 2020–2027 (USD MILLION)	120
9.3.4	BY END USER	120
TABLE 59	SOLID OXIDE FUEL CELL MARKET IN ASIA PACIFIC, BY END USER, 
2020–2027 (USD MILLION)	120
TABLE 60	SOLID OXIDE FUEL CELL MARKET FOR RESIDENTIAL IN ASIA PACIFIC, 
BY COUNTRY, 2020–2027 (USD MILLION)	121
TABLE 61	SOLID OXIDE FUEL CELL MARKET FOR COMMERCIAL & INDUSTRIAL IN 
ASIA PACIFIC, BY COUNTRY, 2020–2027 (USD MILLION)	121
TABLE 62	SOLID OXIDE FUEL CELL MARKET FOR DATA CENTERS IN ASIA PACIFIC, 
BY COUNTRY, 2020–2027 (USD MILLION)	121
TABLE 63	SOLID OXIDE FUEL CELL MARKET FOR MILITARY & DEFENSE IN ASIA PACIFIC, BY COUNTRY, 2020–2027 (USD MILLION)	122
9.3.4.1	JAPAN	122
9.3.4.1.1	Progressive commercialization of SOFC technology in Japan contributes to growth of SOFC market	122
TABLE 64	SOLID OXIDE FUEL CELL MARKET IN JAPAN, BY TYPE, 
2020–2027 (USD MILLION)	122
TABLE 65	SOLID OXIDE FUEL CELL MARKET IN JAPAN, BY APPLICATION, 
2020–2027 (USD MILLION)	123
TABLE 66	SOLID OXIDE FUEL CELL MARKET IN JAPAN, BY END USER, 
2020–2027 (USD MILLION)	123
9.3.4.2	South Korea	123
9.3.4.2.1	Increasing investment by SOFC manufactures likely to drive SOFC market growth in South Korea	123
TABLE 67	SOLID OXIDE FUEL CELL MARKET IN SOUTH KOREA, BY TYPE, 
2020–2027 (USD MILLION)	124
TABLE 68	SOLID OXIDE FUEL CELL MARKET IN SOUTH KOREA, BY APPLICATION, 
2020–2027 (USD MILLION)	124
TABLE 69	SOLID OXIDE FUEL CELL MARKET IN SOUTH KOREA, BY END USER, 
2020–2027 (USD MILLION)	125
9.3.4.3	China	125
9.3.4.3.1	Decarbonization and air quality needs in transportation market to drive market for SOFCs in China	125
TABLE 70	SOLID OXIDE FUEL CELL MARKET IN CHINA, BY TYPE, 
2020–2027 (USD MILLION)	125
TABLE 71	SOLID OXIDE FUEL CELL MARKET IN CHINA, BY APPLICATION, 
2020–2027 (USD MILLION)	126
TABLE 72	SOLID OXIDE FUEL CELL MARKET IN CHINA, BY END USER, 
2020–2027 (USD MILLION)	126
9.3.4.4	Rest of Asia Pacific	126
TABLE 73	SOLID OXIDE FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY TYPE, 
2020–2027 (USD MILLION)	126
TABLE 74	SOLID OXIDE FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY APPLICATION, 2020–2027 (USD MILLION)	127
TABLE 75	SOLID OXIDE FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY END USER, 2020–2027 (USD MILLION)	127
9.4	EUROPE	127
9.4.1	BY COUNTRY	128
TABLE 76	SOLID OXIDE FUEL CELL MARKET IN EUROPE, BY COUNTRY, 
2020–2027 (USD THOUSAND)	128
TABLE 77	SOLID OXIDE FUEL CELL MARKET IN EUROPE, BY COUNTRY, 
2020–2027 (MW)	128
9.4.2	BY TYPE	128
TABLE 78	SOLID OXIDE FUEL CELL MARKET IN EUROPE, BY TYPE, 
2020–2027 (USD MILLION)	128
TABLE 79	SOLID OXIDE FUEL CELL MARKET FOR PLANAR IN EUROPE, BY COUNTRY, 2020–2027 (USD MILLION)	129
TABLE 80	SOLID OXIDE FUEL CELL MARKET FOR TUBULAR IN EUROPE, BY COUNTRY, 2020–2027 (USD THOUSAND)	129
9.4.3	BY APPLICATION	129
TABLE 81	SOLID OXIDE FUEL CELL MARKET IN EUROPE, BY APPLICATION, 
2020–2027 (USD MILLION)	129
TABLE 82	SOLID OXIDE FUEL CELL MARKET FOR PORTABLE IN EUROPE, BY COUNTRY, 2020–2027 (USD THOUSAND)	130
TABLE 83	SOLID OXIDE FUEL CELL MARKET FOR STATIONARY IN EUROPE, BY COUNTRY, 2020–2027 (USD THOUSAND)	130
TABLE 84	SOLID OXIDE FUEL CELL MARKET FOR TRANSPORT IN EUROPE, BY COUNTRY, 2020–2027 (USD THOUSAND)	130
9.4.4	BY END USER	131
TABLE 85	SOLID OXIDE FUEL CELL MARKET IN EUROPE, BY END USER, 
2020–2027 (USD MILLION)	131
TABLE 86	SOLID OXIDE FUEL CELL MARKET FOR RESIDENTIAL IN EUROPE, 
BY COUNTRY, 2020–2027 (USD THOUSAND)	131
TABLE 87	SOLID OXIDE FUEL CELL MARKET FOR COMMERCIAL & INDUSTRIAL IN EUROPE, BY COUNTRY, 2020–2027 (USD MILLION)	131
TABLE 88	SOLID OXIDE FUEL CELL MARKET FOR DATA CENTERS IN EUROPE, 
BY COUNTRY, 2020–2027 (USD THOUSAND)	132
TABLE 89	SOLID OXIDE FUEL CELL MARKET FOR MILITARY & DEFENSE IN EUROPE, 
BY COUNTRY, 2020–2027 (USD THOUSAND)	132
9.4.4.1	Germany	132
9.4.4.1.1	Growing investment in R&D activities is likely to drive SOFC market growth in Germany	132
TABLE 90	SOLID OXIDE FUEL CELL MARKET IN GERMANY, BY TYPE, 
2020–2027 (USD MILLION)	133
TABLE 91	SOLID OXIDE FUEL CELL MARKET IN GERMANY, BY APPLICATION, 
2020–2027 (USD MILLION)	133
TABLE 92	SOLID OXIDE FUEL CELL MARKET IN GERMANY, BY END USER, 
2020–2027 (USD MILLION)	134
9.4.4.2	UK	134
9.4.4.2.1	Emission regulations are driving innovation in SOFC technology in UK	134
TABLE 93	SOLID OXIDE FUEL CELL MARKET IN UK, BY TYPE, 2020–2027 (USD MILLION)	134
TABLE 94	SOLID OXIDE FUEL CELL MARKET IN UK, BY APPLICATION, 
2020–2027 (USD MILLION)	135
TABLE 95	SOLID OXIDE FUEL CELL MARKET IN UK, BY END USER, 
2020–2027 (USD MILLION)	135
9.4.4.3	Italy	135
9.4.4.3.1	Growing adoption of SOFCs to curb carbon emission is driving SOFC market growth in Italy	135
TABLE 96	SOLID OXIDE FUEL CELL MARKET IN ITALY, BY TYPE, 
2020–2027 (USD THOUSAND)	136
TABLE 97	SOLID OXIDE FUEL CELL MARKET IN ITALY, BY APPLICATION, 
2020–2027 (USD THOUSAND)	136
TABLE 98	SOLID OXIDE FUEL CELL MARKET IN ITALY, BY END USER, 
2020–2027 (USD MILLION)	136
9.4.4.4	Rest of Europe	137
TABLE 99	SOLID OXIDE FUEL CELL MARKET IN REST OF EUROPE, BY TYPE, 
2020–2027 (USD THOUSAND)	137
TABLE 100	SOLID OXIDE FUEL CELL MARKET IN REST OF EUROPE, BY APPLICATION, 2020–2027 (USD THOUSANDS)	137
TABLE 101	SOLID OXIDE FUEL CELL MARKET IN REST OF EUROPE, BY END USER, 
2020–2027 (USD THOUSANDS)	138
9.5	REST OF THE WORLD	138
9.5.1	BY TYPE	138
TABLE 102	SOLID OXIDE FUEL CELL MARKET IN ROW, BY TYPE, 
2020–2027 (USD MILLION)	138
9.5.2	BY APPLICATION	139
TABLE 103	SOLID OXIDE FUEL CELL MARKET IN ROW, BY APPLICATION, 
2020–2027 (USD THOUSAND)	139
9.5.3	BY END USER	139
TABLE 104	SOLID OXIDE FUEL CELL MARKET IN ROW, BY END USER, 
2020–2027 (USD MILLION)	139
10	COMPETITIVE LANDSCAPE	140
10.1	KEY PLAYERS STRATEGIES	140
TABLE 105	OVERVIEW OF KEY STRATEGIES DEPLOYED BY TOP PLAYERS, 
JANUARY 2017– FEBRURAY 2022	140
10.2	MARKET SHARE ANALYSIS OF TOP FIVE PLAYERS	144
TABLE 106	SOLID OXIDE FUEL CELL MARKET: DEGREE OF COMPETITION	144
FIGURE 39	SOLID OXIDE FUEL CELL MARKET SHARE ANALYSIS, 2021	144
10.3	SEGMENTAL REVENUE ANALYSIS OF TOP FIVE MARKET PLAYERS	145
FIGURE 40	5 YEAR SEGMENTAL ANALYSIS OF TOP PLAYERS FROM 2016 TO 2020	145
10.4	COMPANY EVALUATION QUADRANT	146
10.4.1	STAR	146
10.4.2	PERVASIVE	146
10.4.3	EMERGING LEADER	146
10.4.4	PARTICIPANT	146
FIGURE 41	COMPETITIVE LEADERSHIP MAPPING: SOLID OXIDE FUEL CELL MARKET, 2020	147
10.5	SOLID OXIDE FUEL CELL: COMPANY FOOTPRINT	148
TABLE 107	BY END USER: COMPANY FOOTPRINT	148
TABLE 108	BY REGION: COMPANY FOOTPRINT	149
TABLE 109	BY APPLICATION: COMPANY FOOTPRINT	150
TABLE 110	COMPANY FOOTPRINT	151
10.6	COMPETITIVE SCENARIO	152
TABLE 111	SOLID OXIDE FUEL CELL MARKET: PRODUCT LAUNCHES, 
JANUARY 2017– FEBRUARY 2022	152
TABLE 112	SOLID OXIDE FUEL CELL: DEALS, JANURAY 2017– FEBRUARY 2022	153
TABLE 113	SOLID OXIDE FUEL CELL MARKET: OTHERS, JANURAY 2017 – FEBRURAY 2022	154
10.7	START-UP/SME EVALUATION QUADRANT, 2020	155
10.7.1	PROGRESSIVE COMPANY	155
10.7.2	RESPONSIVE COMPANY	155
10.7.3	DYNAMIC COMPANY	155
10.7.4	STARTING BLOCK	155
FIGURE 42	SOLID OXIDE FUEL CELL MARKET: START-UP/SME EVALUATION QUADRANT, 2020	156
10.8	COMPETITIVE BENCHMARKING	157
TABLE 114	SOLID OXIDE FUEL CELL MARKET: DETAILED LIST OF KEY STARTUP/SMES	157
TABLE 115	SOLID OXIDE FUEL CELL MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS [STARTUPS/SMES]	158
11	COMPANY PROFILES	159
11.1	KEY PLAYERS	159
(Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments)*
11.1.1	BLOOM ENERGY	159
TABLE 116	BLOOM ENERGY: BUSINESS OVERVIEW	159
FIGURE 43	BLOOM ENERGY: COMPANY SNAPSHOT, 2020	160
TABLE 117	BLOOM ENERGY: PRODUCTS OFFERED	160
TABLE 118	BLOOM ENERGY: PRODUCT LAUNCHES	161
TABLE 119	BLOOM ENERGY: DEALS	161
TABLE 120	BLOOM ENERGY: OTHERS	167
11.1.2	AISIN CORPORATION	169
TABLE 121	AISIN CORPORATION: BUSINESS OVERVIEW	169
FIGURE 44	AISIN CORPORATION: COMPANY SNAPSHOT, 2020	170
TABLE 122	AISIN CORPORATION: PRODUCTS OFFERED	170
TABLE 123	AISIN CORPORATION: DEALS	171
11.1.3	MITSUBISHI POWER	173
TABLE 124	MITSUBISHI POWER: BUSINESS OVERVIEW	173
FIGURE 45	MITSUBISHI POWER: COMPANY SNAPSHOT, 2020	174
TABLE 125	MITSUBISHI POWER: PRODUCTS OFFERED	174
TABLE 126	MITSHUBISHI POWER: DEALS	175
11.1.4	HITACHI ZOSEN CORPORATION	177
TABLE 127	HITACHI ZOSEN CORPORATION: BUSINESS OVERVIEW	177
FIGURE 46	HITACHI ZOSEN CORPORATION: COMPANY SNAPSHOT, 2020	178
TABLE 128	HITACHI ZOSEN CORPORATION: PRODUCTS OFFERED	178
TABLE 129	HITACHI ZOSEN CORPORATION: DEALS	179
TABLE 130	HITACHI ZOSEN CORPORATION: OTHERS	180
11.1.5	CERES	181
TABLE 131	CERES: BUSINESS OVERVIEW	181
FIGURE 47	CERES: COMPANY SNAPSHOT, 2020	182
TABLE 132	CERES: PRODUCTS OFFERED	182
TABLE 133	CERES: DEALS	183
TABLE 134	CERES: OTHERS	184
11.1.6	MIURA CO., LTD.	186
TABLE 135	MIURA CO., LTD.: BUSINESS OVERVIEW	186
FIGURE 48	MIURA CO., LTD. IURA: COMPANY SNAPSHOT, 2020	187
TABLE 136	MIURA CO., LTD.: PRODUCTS OFFERED	187
11.1.7	KYOCERA CORPORATION	188
TABLE 137	KYOCERA CORPORATION: BUSINESS OVERVIEW	188
FIGURE 49	KYOCERA CORPORATION: COMPANY SNAPSHOT, 2020	189
TABLE 138	KYOCERA CORPORATION: PRODUCTS OFFERED	189
TABLE 139	KYOCERA CORPORATION: PRODUCT LAUNCHES	190
11.1.8	SOLIDPOWER S.P.A	191
TABLE 140	SOLIDPOWER S.P.A.: BUSINESS OVERVIEW	191
TABLE 141	SOLIDPOWER S.P.A.: PRODUCTS OFFERED	191
TABLE 142	SOLIDPOWER: DEALS	192
TABLE 143	SOLIDPOWER: OTHERS	194
11.1.9	ELCOGEN AS	195
TABLE 144	ELCOGEN AS: BUSINESS OVERVIEW	195
TABLE 145	ELCOGEN AS: PRODUCTS OFFERED	195
TABLE 146	ELCOGEN AS: DEALS	196
11.1.10	CONVION LTD.	198
TABLE 147	CONION LTD.: BUSINESS OVERVIEW	198
TABLE 148	CONVION LTD.: PRODUCTS OFFERED	198
TABLE 149	CONVION LTD.: DEALS	199
TABLE 150	CONVION LTD.: OTHERS	200
11.1.11	SUNFIRE GMBH	201
TABLE 151	SUNFIRE GMBH: BUSINESS OVERVIEW	201
TABLE 152	SUNFIRE GMBH: PRODUCTS OFFERED	201
TABLE 153	SUNFIRE GMBH: DEALS	202
TABLE 154	SUNFIRE GMBH: OTHERS	207
11.1.12	H2E POWER SYSTEMS PVT. LTD.	208
TABLE 155	H2E POWER SYSTEMS PVT. LTD: BUSINESS OVERVIEW	208
TABLE 156	H2E POWER SYSTEMS PVT. LTD: PRODUCTS OFFERED	208
TABLE 157	H2E POWER SYSTEMS PVT. LTD (INDIA): DEALS	209
11.1.13	WATT FUEL CELL CORPORATION	210
TABLE 158	WATT FUEL CELL CORPORATION: BUSINESS OVERVIEW	210
TABLE 159	WATT FUEL CELL CORPORATION: PRODUCTS OFFERED	210
TABLE 160	WATT FUEL CELL CORPORATION: DEALS	211
11.1.14	UPSTART POWER, INC	212
TABLE 161	UPSTART POWER, INC.: BUSINESS OVERVIEW	212
TABLE 162	UPSTART POWER, INC: PRODUCTS OFFERED	212
11.2	OTHER PLAYERS	213
11.2.1	ZTEK CORPORATION	213
TABLE 163	ZTEK CORPORATION INC: BUSINESS OVERVIEW	213
11.2.2	SPECIAL POWER SOURCE	214
TABLE 164	SPECIAL POWER SOURCES: BUSINESS OVERVIEW	214
11.2.3	ADELAN	215
TABLE 165	ADELAN: BUSINESS OVERVIEW	215
11.2.4	AVL	215
TABLE 166	AVL: BUSINESS OVERVIEW	215
11.2.5	ADAPTIVE ENERGY	216
TABLE 167	ADAPTIVE ENERGY: BUSINESS OVERVIEW	216
11.3	R&D PLAYERS	217
11.3.1	ROBERT BOSCH GMBH	217
TABLE 168	ROBERT BOSCH GMBH: BUSINESS OVERVIEW	217
FIGURE 50	ROBERT BOSCH GMBH: COMPANY SNAPSHOT, 2020	218
TABLE 169	ROBERT BOSCH GMBH: DEALS	219
TABLE 170	ROBERT BOSCH GMBH: OTHERS	219
11.3.2	WEICHAI POWER CO., LTD	220
TABLE 171	WEICHAI POWER CO., LTD.: BUSINESS OVERVIEW	220
FIGURE 51	WEICHAI POWER CO., LTD.: COMPANY SNAPSHOT, 2020	221
TABLE 172	WEICHAI POWER CO., LTD.: DEALS	222
11.3.3	DOOSAN FUEL CELL CO., LTD.	223
TABLE 173	DOOSAN FUEL CELL CO., LTD.: BUSINESS OVERVIEW	223
FIGURE 52	DOOSAN FUEL CELL CO., LTD.: COMPANY SNAPSHOT, 2020	223
TABLE 174	DOOSAN FUEL CELL CO., LTD.: DEALS	224
11.3.4	FUEL CELL ENERGY	226
TABLE 175	FUEL CELL ENERGY: BUSINESS OVERVIEW	226
11.3.5	POSCO ENERGY	227
TABLE 176	POSCO ENERGY: BUSINESS OVERVIEW	227
11.3.6	CLARA VENTURE LABS	227
TABLE 177	CLARA VENTURE LABS: BUSINESS OVERVIEW	227
11.3.7	CUMMINS	228
TABLE 178	CUMMINS: BUSINESS OVERVIEW	228
*Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments might not be captured in case of unlisted companies.
 
12	APPENDIX	229
12.1	INSIGHTS OF INDUSTRY EXPERTS	229
12.2	DISCUSSION GUIDE	230
12.3	KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL	234
12.4	AVAILABLE CUSTOMIZATIONS	236
12.5	RELATED REPORTS	236
12.6	AUTHOR DETAILS	237
			       1	INTRODUCTION	28
1.1	STUDY OBJECTIVES	28
1.2	DEFINITION	28
1.3	INCLUSIONS AND EXCLUSIONS	29
1.3.1	SOLID OXIDE FUEL CELL MARKET, BY APPLICATION	29
1.3.2	SOLID OXIDE FUEL CELL MARKET, BY END USER	29
1.4	MARKET SCOPE	30
1.4.1	SOLID OXIDE FUEL CELL MARKET SEGMENTATION	30
1.4.2	REGIONAL SCOPE	30
1.5	YEARS CONSIDERED	31
1.6	CURRENCY	31
1.7	LIMITATIONS	31
1.8	STAKEHOLDERS	32
1.9	SUMMARY OF CHANGES	32
2	RESEARCH METHODOLOGY	34
2.1	RESEARCH DATA	34
FIGURE 1	SOLID OXIDE FUEL CELL MARKET: RESEARCH DESIGN	35
2.2	MARKET BREAKDOWN AND DATA TRIANGULATION	36
FIGURE 2	DATA TRIANGULATION METHODOLOGY	36
2.2.1	SECONDARY DATA	37
2.2.2	PRIMARY DATA	37
2.2.2.1	Key insights from primary sources	38
2.2.2.2	Breakdown of primaries	39
2.3	MARKET SIZE ESTIMATION	39
2.3.1	BOTTOM-UP APPROACH	39
FIGURE 3	SOLID OXIDE FUEL CELL MARKET: INDUSTRY-/REGION- WISE ANALYSIS	40
2.3.2	TOP-DOWN APPROACH	40
FIGURE 4	SOLID OXIDE FUEL CELL MARKET: TOP-DOWN APPROACH	41
2.3.3	DEMAND SIDE METRICS	42
FIGURE 5	MAIN METRICS CONSIDERED FOR ANALYZING DEMAND FOR SOLID OXIDE FUEL CELLS	42
2.3.3.1	Regional analysis	42
2.3.3.2	Country analysis	42
2.3.3.3	Demand-side key assumptions	43
2.3.3.4	Demand-side calculation	43
2.3.4	SUPPLY-SIDE ANALYSIS	44
FIGURE 6	KEY METRICS CONSIDERED FOR ASSESSING SUPPLY OF SOLID OXIDE FUEL CELLS	44
FIGURE 7	SOLID OXIDE FUEL CELL MARKET: SUPPLY-SIDE ANALYSIS	45
2.3.4.1	Calculations for supply side	45
2.3.4.2	Assumptions for supply side	45
FIGURE 8	SOLID OXIDE FUEL CELL MARKET: MARKET SHARE ANALYSIS	46
2.4	FORECAST	46
3	EXECUTIVE SUMMARY	47
TABLE 1	SOLID OXIDE FUEL CELL MARKET SNAPSHOT	47
FIGURE 9	NORTH AMERICA HELD LARGEST SHARE OF SOLID OXIDE FUEL CELL MARKET IN 2021	48
FIGURE 10	PLANAR SEGMENT EXPECTED TO DOMINATE SOLID OXIDE FUEL CELL MARKET, BY TYPE, 2022–2027	49
FIGURE 11	STATIONARY SEGMENT EXPECTED TO LEAD SOLID OXIDE FUEL CELL MARKET, BY APPLICATION, 2022–2027	49
FIGURE 12	COMMERCIAL & INDUSTRIAL SEGMENT EXPECTED TO LEAD SOLID OXIDE FUEL CELL MARKET, BY END USER, 2020–2027	50
4	PREMIUM INSIGHTS	51
4.1	ATTRACTIVE OPPORTUNITIES IN SOLID OXIDE FUEL CELL MARKET	51
FIGURE 13	INCREASING DEMAND FOR CLEAN POWER GENERATION TO BOOST MARKET GROWTH FROM 2022 TO 2027	51
4.2	SOLID OXIDE FUEL CELL MARKET, BY REGION	52
FIGURE 14	SOLID OXIDE FUEL CELL MARKET TO EXHIBIT HIGHEST CAGR IN ASIA PACIFC DURING FORECAST PERIOD	52
4.3	NORTH AMERICA SOLID OXIDE FUEL CELL MARKET, BY END USER AND COUNTRY	52
FIGURE 15	COMMERCIAL & INDUSTRIAL END USER AND US HELD LARGEST SHARES OF SOLID OXIDE FUEL CELL MARKET IN NORTH AMERICA IN 2021	52
4.4	SOLID OXIDE FUEL CELL MARKET, BY TYPE	53
FIGURE 16	PLANAR SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE, BY TYPE, IN 2027	53
4.5	SOLID OXIDE FUEL CELL MARKET, BY APPLICATION	53
FIGURE 17	STATIONARY SEGMENT TO ACCOUNT FOR LARGEST SHARE OF SOLID OXIDE FUEL CELL MARKET, BY APPLICATION, IN 2027	53
4.6	SOLID OXIDE FUEL CELL MARKET, BY END USER	54
FIGURE 18	COMMERCIAL & INDUSTRIAL SEGMENT TO DOMINATE SOLID OXIDE FUEL CELL MARKET, BY END USER, IN 2027	54
5	MARKET OVERVIEW	55
5.1	INTRODUCTION	55
5.2	COVID-19 HEALTH ASSESSMENT	55
FIGURE 19	GLOBAL PROPAGATION OF COVID-19	56
FIGURE 20	PROPAGATION OF COVID-19 CASES IN SELECTED COUNTRIES	56
5.3	COVID-19 ECONOMIC ASSESSMENT	57
FIGURE 21	COMPARISON OF GDP FOR SELECTED G20 COUNTRIES IN 2020	57
5.4	MARKET DYNAMICS	58
FIGURE 22	SOLID OXIDE FUEL CELL MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES	58
5.4.1	DRIVERS	58
5.4.1.1	Government subsidies and increased R&D on fuel cell programs	58
5.4.1.2	Fuel flexibility and increasing demand for energy-efficient power generation	59
5.4.1.3	Stringent emission norms in Europe and North America leading to demand for clean energy sources	59
FIGURE 23	ENERGY-RELATED CO2 EMISSIONS, 1990–2019 (GT CO2)	60
5.4.2	RESTRAINTS	60
5.4.2.1	High fuel cell installation and manufacturing costs	60
5.4.2.2	Development of other types of fuel cells	60
5.4.2.3	Storage issues associated with hydrogen as fuel for SOFCs	60
5.4.3	OPPORTUNITIES	61
5.4.3.1	Rising distributed power generation applications across regions	61
TABLE 2	COMPARISON OF FUEL CELLS AND OTHER DISTRIBUTED POWER GENERATION SOURCES	61
5.4.3.2	Increasing adoption by end users in data centers and military sector	61
5.4.4	CHALLENGES	62
5.4.4.1	High operating temperatures and start-up time of SOFCs	62
5.4.4.2	Rise in investments in alternative clean technologies	62
FIGURE 24	RISE IN GLOBAL INVESTMENTS IN RENEWABLE ENERGY	62
5.4.4.3	High ceramic interconnect cost and degradation at high temperatures	63
5.5	IMPACT OF COVID-19	63
5.6	TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS	64
FIGURE 25	REVENUE SHIFT FOR SOLID OXIDE FUEL CELL PROVIDERS	64
5.7	MARKET MAP	65
FIGURE 26	MARKET MAP: SOLID OXIDE FUEL CELL MARKET	65
TABLE 3	SOLID OXIDE FUEL CELL MARKET: ROLE IN ECOSYSTEM	65
5.8	VALUE CHAIN ANALYSIS	66
FIGURE 27	VALUE CHAIN ANALYSIS: SOLID OXIDE FUEL CELL MARKET	67
5.8.1	COMPONENT MANUFACTURERS	67
5.8.2	ASSEMBLERS/MANUFACTURERS	67
5.8.3	DISTRIBUTORS (BUYERS)/END USERS	67
5.9	PRICING ANALYSIS	68
TABLE 4	SOLID OXIDE FUEL CELL MARKET: AVERAGE SELLING PRICES AND COST BREAK-UP OF SOFC STACK MANUFACTURING	68
TABLE 5	SOLID OXIDE FUEL CELL MARKET: SOLID OXIDE FUEL CELL APU BALANCE OF PLANT COST BREAKUP	69
FIGURE 28	SOFC STACK MANUFACTURING COST PER KW AS MEASURE OF NUMBER OF STACKS & SYSTEM SIZE	69
5.10	TARIFFS AND REGULATORY LANDSCAPE	70
5.10.1	REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	70
TABLE 6	NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	70
TABLE 7	EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	71
TABLE 8	ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	71
5.10.2	REGULATIONS RELATED TO SOLID OXIDE FUEL CELLS	71
5.10.2.1	Regulatory framework in North America	71
5.10.2.2	Regulatory framework in Europe	72
5.10.2.3	Regulatory framework in Asia Pacific	72
5.11	PATENT ANALYSIS	73
TABLE 9	SOLID OXIDE FUEL CELL: INNOVATIONS AND PATENT REGISTRATIONS, JUNE 2017–FEBRUARY 2022	73
5.12	CASE STUDY ANALYSIS	74
5.12.1	IKEA USES FUEL CELLS FOR ON-SITE POWER GENERATION	74
5.12.1.1	Problem statement	74
5.12.1.2	Solution	74
5.12.2	SAMSUNG HEAVY INDUSTRIES PLANS FOR CLEAN POWER SHIPS UNDER JOINT DEVELOPMENT AGREEMENT WITH BLOOM ENERGY	75
5.12.2.1	Problem statement	75
5.12.2.2	Solution	75
5.13	TECHNOLOGICAL ANALYSIS	75
5.13.1	DEVELOPMENT OF HYBRID SOFC TECHNOLOGIES	76
5.14	KEY CONFERENCES AND EVENTS IN 2022 & 2023	77
TABLE 10	SOLID OXIDE FUEL CELL MARKET: DETAILED LIST OF CONFERENCES & EVENTS	77
5.15	MATERIAL ANALYSIS	78
FIGURE 29	CLASSIFICATION OF SOLID OXIDE FUEL CELL MARKET BY OPERATING TEMPERATURE	78
TABLE 11	SOLID OXIDE FUEL CELL MARKET: CURRENT SCENARIO OF MATERIAL SELECTION	79
TABLE 12	SOLID OXIDE FUEL CELL MARKET: TYPES OF SOFC SUPPORT STRUCTURES	80
FIGURE 30	SOLID OXIDE FUEL CELL MARKET: EFFECT OF CATHODE LAYER THICKNESS ON PERFORMANCE	81
TABLE 13	SOLID OXIDE FUEL CELL MARKET: INTECONNECT COATINGS	81
TABLE 14	SOLID OXIDE FUEL CELL MARKET: UPCOMING MATERIAL TRENDS	83
5.16	PORTER’S FIVE FORCES ANALYSIS	83
FIGURE 31	PORTER’S FIVE FORCES ANALYSIS FOR SOLID OXIDE FUEL CELL MARKET	84
TABLE 15	SOLID OXIDE FUEL CELL MARKET: PORTER’S FIVE FORCES ANALYSIS	84
6	SOLID OXIDE FUEL CELL MARKET, BY TYPE	87
6.1	INTRODUCTION	88
FIGURE 32	SOLID OXIDE FUEL CELL MARKET SHARE, BY TYPE, 2021	88
TABLE 16	SOLID OXIDE FUEL CELL MARKET BY TYPE, 2020–2027 (USD MILLION)	88
6.2	PLANAR	89
6.2.1	USE OF SIMPLE GEOMETRY AND RELATIVELY EASIER CONSTRUCTION PROCESS ARE PROPELLING GROWTH OF PLANAR SOFC SEGMENT	89
TABLE 17	PLANAR SOLID OXIDE FUEL CELL MARKET, BY REGION, 
2020–2027 (USD MILLION)	89
6.3	TUBULAR	89
6.3.1	RAPID START-UP CAPABILITIES AND HIGH POWER DENSITIES OF TUBULAR SOFCS ARE LIKELY TO DRIVE MARKET GROWTH	89
TABLE 18	TUBULAR SOLID OXIDE FUEL CELL MARKET, BY REGION, 
2020–2027 (USD MILLION)	90
7	SOLID OXIDE FUEL CELL MARKET, BY APPLICATION	91
7.1	INTRODUCTION	92
FIGURE 33	SOLID OXIDE FUEL CELL MARKET SHARE, BY APPLICATION, 2021	92
TABLE 19	SOLID OXIDE FUEL CELL MARKET, BY APPLICATION, 
2020–2027 (USD MILLION)	92
7.2	PORTABLE	93
7.2.1	PORTABLE SOLID OXIDE FUEL CELLS ARE MAINLY USED BY MILITARY ORGANIZATIONS	93
TABLE 20	PORTABLE: SOLID OXIDE FUEL CELL MARKET, BY REGION, 
2020–2027 (USD MILLION)	93
7.3	STATIONARY	94
7.3.1	STATIONARY SOLID OXIDE FUEL CELLS ARE WELL SUITED FOR STATIONARY POWER GENERATION	94
TABLE 21	STATIONARY: SOLID OXIDE FUEL CELL MARKET, BY REGION, 
2020–2027 (USD MILLION)	94
7.4	TRANSPORT	95
7.4.1	INCREASE IN DEVELOPMENT OF SOFCS FOR OPERATING HEAVY-DUTY VEHICLES TO DRIVE MARKET GROWTH	95
TABLE 22	TRANSPORT: SOLID OXIDE FUEL CELL MARKET, BY REGION, 
2020–2027 (USD MILLION)	96
8	SOLID OXIDE FUEL CELL MARKET, BY END USER	97
8.1	INTRODUCTION	98
FIGURE 34	SOLID OXIDE FUEL CELL MARKET SHARE, BY END USER, 2021	98
TABLE 23	SOLID OXIDE FUEL CELL MARKET, BY END USER, 2020–2027 (USD MILLION)	98
8.2	RESIDENTIAL	99
8.2.1	RISING NEED FOR ENERGY REDUCTION AND ENERGY EFFICIENCY IN RESIDENTIAL AREAS IS LIKELY TO DRIVE GROWTH OF RESIDENTIAL SEGMENT	99
TABLE 24	RESIDENTIAL: SOLID OXIDE FUEL CELL MARKET, BY REGION, 
2020–2027 (USD MILLION)	99
8.3	COMMERCIAL & INDUSTRIAL	100
8.3.1	NEED TO DECREASE CARBON EMISSION & INCREASING INVESTMENTS IN SHIPPING INDUSTRY LIKELY TO BOOST GROWTH OF COMMERCIAL & INDUSTRIAL SEGMENT	100
TABLE 25	COMMERCIAL & INDUSTRIAL: SOLID OXIDE FUEL CELL MARKET, BY REGION, 2020–2027 (USD MILLION)	101
8.4	DATA CENTERS	101
8.4.1	GROWING NEED FOR BACK-UP POWER IN DATA CENTERS DURING OUTAGES TO SPUR GROWTH OF DATA CENTER SEGMENT	101
TABLE 26	DATA CENTERS: SOLID OXIDE FUEL CELL MARKET, BY REGION, 
2020–2027 (USD MILLION)	102
8.5	MILITARY & DEFENSE	102
8.5.1	HIGHER EFFICIENCIES OF SOFC SPUR DEMAND FOR SOLID OXIDE FUEL CELLS FOR MILITARY MISSIONS	102
TABLE 27	MILITARY & DEFENSE: SOLID OXIDE FUEL CELL MARKET, BY REGION, 
2020–2027 (MILLION)	103
9	GEOGRAPHIC ANALYSIS	104
9.1	INTRODUCTION	105
FIGURE 35	REGIONAL SNAPSHOT: ASIA PACIFIC IS EXPECTED TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD	105
FIGURE 36	SOLID OXIDE FUEL CELL MARKET, BY COUNTRY, 2021	105
TABLE 28	SOLID OXIDE FUEL CELL MARKET, BY REGION, 2020–2027 (USD MILLION)	106
TABLE 29	SOLID OXIDE FUEL CELL MARKET, BY REGION, 2020–2027 (MW)	106
9.2	NORTH AMERICA	107
FIGURE 37	SNAPSHOT: SOLID OXIDE FUEL CELL MARKET IN NORTH AMERICA, 
2021–2027	107
9.2.1	BY COUNTRY	108
TABLE 30	SOLID OXIDE FUEL CELL IN NORTH AMERICA, BY COUNTRY, 
2020–2027 (USD MILLION)	108
TABLE 31	SOLID OXIDE FUEL CELL IN NORTH AMERICA, BY COUNTRY, 
2020–2027 (MW)	108
9.2.2	BY TYPE	108
TABLE 32	SOLID OXIDE FUEL CELL MARKET IN NORTH AMERICA, BY TYPE, 
2020–2027 (USD MILLION)	108
TABLE 33	SOLID OXIDE FUEL CELL FOR PLANAR IN NORTH AMERICA, BY COUNTRY, 2020–2027 (USD MILLION)	108
TABLE 34	SOLID OXIDE FUEL CELL FOR TUBULAR IN NORTH AMERICA, BY COUNTRY, 2020–2027 (USD MILLION)	109
9.2.3	BY APPLICATION	109
TABLE 35	SOLID OXIDE FUEL CELL MARKET IN NORTH AMERICA, BY APPLICATION, 2020–2027 (USD MILLION)	109
TABLE 36	SOLID OXIDE FUEL CELL FOR PORTABLE IN NORTH AMERICA, BY COUNTRY, 2020–2027 (USD MILLION)	109
TABLE 37	SOLID OXIDE FUEL CELL FOR STATIONARY IN NORTH AMERICA, BY COUNTRY, 2020–2027 (USD MILLION)	110
TABLE 38	SOLID OXIDE FUEL CELL FOR TRANSPORT NORTH AMERICA, BY COUNTRY, 2020–2027 (USD MILLION)	110
9.2.4	BY END USER	110
TABLE 39	SOLID OXIDE FUEL CELL MARKET IN NORTH AMERICA, BY END USER, 
2020–2027 (USD MILLION)	110
TABLE 40	SOLID OXIDE FUEL CELL FOR RESIDENTIAL IN NORTH AMERICA, BY COUNTRY, 2020–2027 (USD MILLION)	111
TABLE 41	SOLID OXIDE FUEL CELL FOR COMMERCIAL & INDUSTRIAL IN NORTH AMERICA, BY COUNTRY, 2020–2027 (USD MILLION)	111
TABLE 42	SOLID OXIDE FUEL CELL FOR DATA CENTERS IN NORTH AMERICA, 
BY COUNTRY, 2020–2027 (USD MILLION)	111
TABLE 43	SOLID OXIDE FUEL CELL FOR MILITARY & DEFENSE IN NORTH AMERICA, 
BY COUNTRY, 2020–2027 (USD MILLION)	112
9.2.4.1	US	112
9.2.4.1.1	Growing demand for clean energy generation and emphasis on R&D of SOFC technology are driving market growth in US	112
TABLE 44	SOLID OXIDE FUEL CELL MARKET IN US, BY TYPE, 2020–2027 (USD MILLION)	113
TABLE 45	SOLID OXIDE FUEL CELL MARKET IN US, BY APPLICATION, 
2020–2027 (USD MILLION)	113
TABLE 46	SOLID OXIDE FUEL CELL MARKET IN US, BY END USER, 
2020–2027 (USD MILLION)	113
9.2.4.2	Canada	114
9.2.4.2.1	Government policies advocating use of SOFC technology to provide lucrative opportunities for solid oxide fuel cell market growth in Canada	114
TABLE 47	SOLID OXIDE FUEL CELL MARKET IN CANADA, BY TYPE, 
2020–2027 (USD MILLION)	114
TABLE 48	SOLID OXIDE FUEL CELL MARKET IN CANADA, BY APPLICATION, 
2020–2027 (USD MILLION)	115
TABLE 49	SOLID OXIDE FUEL CELL MARKET IN CANADA, BY END USER, 
2020–2027 (USD MILLION)	115
9.3	ASIA PACIFIC	116
FIGURE 38	SNAPSHOT: SOLID OXIDE FUEL CELL MARKET IN ASIA PACIFIC, 2021–2027	117
9.3.1	BY COUNTRY	117
TABLE 50	SOLID OXIDE FUEL CELL MARKET IN ASIA PACIFIC, BY COUNTRY, 
2020–2027 (USD MILLION)	117
TABLE 51	SOLID OXIDE FUEL CELL MARKET IN ASIA PACIFIC, BY COUNTRY, 
2020–2027 (MW)	118
9.3.2	BY TYPE	118
TABLE 52	SOLID OXIDE FUEL CELL MARKET IN ASIA PACIFIC, BY TYPE, 
2020–2027 (USD MILLION)	118
TABLE 53	SOLID OXIDE FUEL CELL MARKET FOR PLANAR IN ASIA PACIFIC, 
BY COUNTRY, 2020–2027 (USD MILLION)	118
TABLE 54	SOLID OXIDE FUEL CELL MARKET FOR TUBULAR IN ASIA PACIFIC, 
BY COUNTRY, 2020–2027 (USD MILLION)	119
9.3.3	BY APPLICATION	119
TABLE 55	SOLID OXIDE FUEL CELL MARKET IN ASIA PACIFIC, BY APPLICATION, 
2020–2027 (USD MILLION)	119
TABLE 56	SOLID OXIDE FUEL CELL MARKET FOR PORTABLE IN ASIA PACIFIC, 
BY COUNTRY, 2020–2027 (USD MILLION)	119
TABLE 57	SOLID OXIDE FUEL CELL MARKET FOR STATIONARY IN ASIA PACIFIC, 
BY COUNTRY, 2020–2027 (USD MILLION)	120
TABLE 58	SOLID OXIDE FUEL CELL MARKET FOR TRANSPORT IN ASIA PACIFIC, 
BY COUNTRY, 2020–2027 (USD MILLION)	120
9.3.4	BY END USER	120
TABLE 59	SOLID OXIDE FUEL CELL MARKET IN ASIA PACIFIC, BY END USER, 
2020–2027 (USD MILLION)	120
TABLE 60	SOLID OXIDE FUEL CELL MARKET FOR RESIDENTIAL IN ASIA PACIFIC, 
BY COUNTRY, 2020–2027 (USD MILLION)	121
TABLE 61	SOLID OXIDE FUEL CELL MARKET FOR COMMERCIAL & INDUSTRIAL IN 
ASIA PACIFIC, BY COUNTRY, 2020–2027 (USD MILLION)	121
TABLE 62	SOLID OXIDE FUEL CELL MARKET FOR DATA CENTERS IN ASIA PACIFIC, 
BY COUNTRY, 2020–2027 (USD MILLION)	121
TABLE 63	SOLID OXIDE FUEL CELL MARKET FOR MILITARY & DEFENSE IN ASIA PACIFIC, BY COUNTRY, 2020–2027 (USD MILLION)	122
9.3.4.1	JAPAN	122
9.3.4.1.1	Progressive commercialization of SOFC technology in Japan contributes to growth of SOFC market	122
TABLE 64	SOLID OXIDE FUEL CELL MARKET IN JAPAN, BY TYPE, 
2020–2027 (USD MILLION)	122
TABLE 65	SOLID OXIDE FUEL CELL MARKET IN JAPAN, BY APPLICATION, 
2020–2027 (USD MILLION)	123
TABLE 66	SOLID OXIDE FUEL CELL MARKET IN JAPAN, BY END USER, 
2020–2027 (USD MILLION)	123
9.3.4.2	South Korea	123
9.3.4.2.1	Increasing investment by SOFC manufactures likely to drive SOFC market growth in South Korea	123
TABLE 67	SOLID OXIDE FUEL CELL MARKET IN SOUTH KOREA, BY TYPE, 
2020–2027 (USD MILLION)	124
TABLE 68	SOLID OXIDE FUEL CELL MARKET IN SOUTH KOREA, BY APPLICATION, 
2020–2027 (USD MILLION)	124
TABLE 69	SOLID OXIDE FUEL CELL MARKET IN SOUTH KOREA, BY END USER, 
2020–2027 (USD MILLION)	125
9.3.4.3	China	125
9.3.4.3.1	Decarbonization and air quality needs in transportation market to drive market for SOFCs in China	125
TABLE 70	SOLID OXIDE FUEL CELL MARKET IN CHINA, BY TYPE, 
2020–2027 (USD MILLION)	125
TABLE 71	SOLID OXIDE FUEL CELL MARKET IN CHINA, BY APPLICATION, 
2020–2027 (USD MILLION)	126
TABLE 72	SOLID OXIDE FUEL CELL MARKET IN CHINA, BY END USER, 
2020–2027 (USD MILLION)	126
9.3.4.4	Rest of Asia Pacific	126
TABLE 73	SOLID OXIDE FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY TYPE, 
2020–2027 (USD MILLION)	126
TABLE 74	SOLID OXIDE FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY APPLICATION, 2020–2027 (USD MILLION)	127
TABLE 75	SOLID OXIDE FUEL CELL MARKET IN REST OF ASIA PACIFIC, BY END USER, 2020–2027 (USD MILLION)	127
9.4	EUROPE	127
9.4.1	BY COUNTRY	128
TABLE 76	SOLID OXIDE FUEL CELL MARKET IN EUROPE, BY COUNTRY, 
2020–2027 (USD THOUSAND)	128
TABLE 77	SOLID OXIDE FUEL CELL MARKET IN EUROPE, BY COUNTRY, 
2020–2027 (MW)	128
9.4.2	BY TYPE	128
TABLE 78	SOLID OXIDE FUEL CELL MARKET IN EUROPE, BY TYPE, 
2020–2027 (USD MILLION)	128
TABLE 79	SOLID OXIDE FUEL CELL MARKET FOR PLANAR IN EUROPE, BY COUNTRY, 2020–2027 (USD MILLION)	129
TABLE 80	SOLID OXIDE FUEL CELL MARKET FOR TUBULAR IN EUROPE, BY COUNTRY, 2020–2027 (USD THOUSAND)	129
9.4.3	BY APPLICATION	129
TABLE 81	SOLID OXIDE FUEL CELL MARKET IN EUROPE, BY APPLICATION, 
2020–2027 (USD MILLION)	129
TABLE 82	SOLID OXIDE FUEL CELL MARKET FOR PORTABLE IN EUROPE, BY COUNTRY, 2020–2027 (USD THOUSAND)	130
TABLE 83	SOLID OXIDE FUEL CELL MARKET FOR STATIONARY IN EUROPE, BY COUNTRY, 2020–2027 (USD THOUSAND)	130
TABLE 84	SOLID OXIDE FUEL CELL MARKET FOR TRANSPORT IN EUROPE, BY COUNTRY, 2020–2027 (USD THOUSAND)	130
9.4.4	BY END USER	131
TABLE 85	SOLID OXIDE FUEL CELL MARKET IN EUROPE, BY END USER, 
2020–2027 (USD MILLION)	131
TABLE 86	SOLID OXIDE FUEL CELL MARKET FOR RESIDENTIAL IN EUROPE, 
BY COUNTRY, 2020–2027 (USD THOUSAND)	131
TABLE 87	SOLID OXIDE FUEL CELL MARKET FOR COMMERCIAL & INDUSTRIAL IN EUROPE, BY COUNTRY, 2020–2027 (USD MILLION)	131
TABLE 88	SOLID OXIDE FUEL CELL MARKET FOR DATA CENTERS IN EUROPE, 
BY COUNTRY, 2020–2027 (USD THOUSAND)	132
TABLE 89	SOLID OXIDE FUEL CELL MARKET FOR MILITARY & DEFENSE IN EUROPE, 
BY COUNTRY, 2020–2027 (USD THOUSAND)	132
9.4.4.1	Germany	132
9.4.4.1.1	Growing investment in R&D activities is likely to drive SOFC market growth in Germany	132
TABLE 90	SOLID OXIDE FUEL CELL MARKET IN GERMANY, BY TYPE, 
2020–2027 (USD MILLION)	133
TABLE 91	SOLID OXIDE FUEL CELL MARKET IN GERMANY, BY APPLICATION, 
2020–2027 (USD MILLION)	133
TABLE 92	SOLID OXIDE FUEL CELL MARKET IN GERMANY, BY END USER, 
2020–2027 (USD MILLION)	134
9.4.4.2	UK	134
9.4.4.2.1	Emission regulations are driving innovation in SOFC technology in UK	134
TABLE 93	SOLID OXIDE FUEL CELL MARKET IN UK, BY TYPE, 2020–2027 (USD MILLION)	134
TABLE 94	SOLID OXIDE FUEL CELL MARKET IN UK, BY APPLICATION, 
2020–2027 (USD MILLION)	135
TABLE 95	SOLID OXIDE FUEL CELL MARKET IN UK, BY END USER, 
2020–2027 (USD MILLION)	135
9.4.4.3	Italy	135
9.4.4.3.1	Growing adoption of SOFCs to curb carbon emission is driving SOFC market growth in Italy	135
TABLE 96	SOLID OXIDE FUEL CELL MARKET IN ITALY, BY TYPE, 
2020–2027 (USD THOUSAND)	136
TABLE 97	SOLID OXIDE FUEL CELL MARKET IN ITALY, BY APPLICATION, 
2020–2027 (USD THOUSAND)	136
TABLE 98	SOLID OXIDE FUEL CELL MARKET IN ITALY, BY END USER, 
2020–2027 (USD MILLION)	136
9.4.4.4	Rest of Europe	137
TABLE 99	SOLID OXIDE FUEL CELL MARKET IN REST OF EUROPE, BY TYPE, 
2020–2027 (USD THOUSAND)	137
TABLE 100	SOLID OXIDE FUEL CELL MARKET IN REST OF EUROPE, BY APPLICATION, 2020–2027 (USD THOUSANDS)	137
TABLE 101	SOLID OXIDE FUEL CELL MARKET IN REST OF EUROPE, BY END USER, 
2020–2027 (USD THOUSANDS)	138
9.5	REST OF THE WORLD	138
9.5.1	BY TYPE	138
TABLE 102	SOLID OXIDE FUEL CELL MARKET IN ROW, BY TYPE, 
2020–2027 (USD MILLION)	138
9.5.2	BY APPLICATION	139
TABLE 103	SOLID OXIDE FUEL CELL MARKET IN ROW, BY APPLICATION, 
2020–2027 (USD THOUSAND)	139
9.5.3	BY END USER	139
TABLE 104	SOLID OXIDE FUEL CELL MARKET IN ROW, BY END USER, 
2020–2027 (USD MILLION)	139
10	COMPETITIVE LANDSCAPE	140
10.1	KEY PLAYERS STRATEGIES	140
TABLE 105	OVERVIEW OF KEY STRATEGIES DEPLOYED BY TOP PLAYERS, 
JANUARY 2017– FEBRURAY 2022	140
10.2	MARKET SHARE ANALYSIS OF TOP FIVE PLAYERS	144
TABLE 106	SOLID OXIDE FUEL CELL MARKET: DEGREE OF COMPETITION	144
FIGURE 39	SOLID OXIDE FUEL CELL MARKET SHARE ANALYSIS, 2021	144
10.3	SEGMENTAL REVENUE ANALYSIS OF TOP FIVE MARKET PLAYERS	145
FIGURE 40	5 YEAR SEGMENTAL ANALYSIS OF TOP PLAYERS FROM 2016 TO 2020	145
10.4	COMPANY EVALUATION QUADRANT	146
10.4.1	STAR	146
10.4.2	PERVASIVE	146
10.4.3	EMERGING LEADER	146
10.4.4	PARTICIPANT	146
FIGURE 41	COMPETITIVE LEADERSHIP MAPPING: SOLID OXIDE FUEL CELL MARKET, 2020	147
10.5	SOLID OXIDE FUEL CELL: COMPANY FOOTPRINT	148
TABLE 107	BY END USER: COMPANY FOOTPRINT	148
TABLE 108	BY REGION: COMPANY FOOTPRINT	149
TABLE 109	BY APPLICATION: COMPANY FOOTPRINT	150
TABLE 110	COMPANY FOOTPRINT	151
10.6	COMPETITIVE SCENARIO	152
TABLE 111	SOLID OXIDE FUEL CELL MARKET: PRODUCT LAUNCHES, 
JANUARY 2017– FEBRUARY 2022	152
TABLE 112	SOLID OXIDE FUEL CELL: DEALS, JANURAY 2017– FEBRUARY 2022	153
TABLE 113	SOLID OXIDE FUEL CELL MARKET: OTHERS, JANURAY 2017 – FEBRURAY 2022	154
10.7	START-UP/SME EVALUATION QUADRANT, 2020	155
10.7.1	PROGRESSIVE COMPANY	155
10.7.2	RESPONSIVE COMPANY	155
10.7.3	DYNAMIC COMPANY	155
10.7.4	STARTING BLOCK	155
FIGURE 42	SOLID OXIDE FUEL CELL MARKET: START-UP/SME EVALUATION QUADRANT, 2020	156
10.8	COMPETITIVE BENCHMARKING	157
TABLE 114	SOLID OXIDE FUEL CELL MARKET: DETAILED LIST OF KEY STARTUP/SMES	157
TABLE 115	SOLID OXIDE FUEL CELL MARKET: COMPETITIVE BENCHMARKING OF KEY PLAYERS [STARTUPS/SMES]	158
11	COMPANY PROFILES	159
11.1	KEY PLAYERS	159
(Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments)*
11.1.1	BLOOM ENERGY	159
TABLE 116	BLOOM ENERGY: BUSINESS OVERVIEW	159
FIGURE 43	BLOOM ENERGY: COMPANY SNAPSHOT, 2020	160
TABLE 117	BLOOM ENERGY: PRODUCTS OFFERED	160
TABLE 118	BLOOM ENERGY: PRODUCT LAUNCHES	161
TABLE 119	BLOOM ENERGY: DEALS	161
TABLE 120	BLOOM ENERGY: OTHERS	167
11.1.2	AISIN CORPORATION	169
TABLE 121	AISIN CORPORATION: BUSINESS OVERVIEW	169
FIGURE 44	AISIN CORPORATION: COMPANY SNAPSHOT, 2020	170
TABLE 122	AISIN CORPORATION: PRODUCTS OFFERED	170
TABLE 123	AISIN CORPORATION: DEALS	171
11.1.3	MITSUBISHI POWER	173
TABLE 124	MITSUBISHI POWER: BUSINESS OVERVIEW	173
FIGURE 45	MITSUBISHI POWER: COMPANY SNAPSHOT, 2020	174
TABLE 125	MITSUBISHI POWER: PRODUCTS OFFERED	174
TABLE 126	MITSHUBISHI POWER: DEALS	175
11.1.4	HITACHI ZOSEN CORPORATION	177
TABLE 127	HITACHI ZOSEN CORPORATION: BUSINESS OVERVIEW	177
FIGURE 46	HITACHI ZOSEN CORPORATION: COMPANY SNAPSHOT, 2020	178
TABLE 128	HITACHI ZOSEN CORPORATION: PRODUCTS OFFERED	178
TABLE 129	HITACHI ZOSEN CORPORATION: DEALS	179
TABLE 130	HITACHI ZOSEN CORPORATION: OTHERS	180
11.1.5	CERES	181
TABLE 131	CERES: BUSINESS OVERVIEW	181
FIGURE 47	CERES: COMPANY SNAPSHOT, 2020	182
TABLE 132	CERES: PRODUCTS OFFERED	182
TABLE 133	CERES: DEALS	183
TABLE 134	CERES: OTHERS	184
11.1.6	MIURA CO., LTD.	186
TABLE 135	MIURA CO., LTD.: BUSINESS OVERVIEW	186
FIGURE 48	MIURA CO., LTD. IURA: COMPANY SNAPSHOT, 2020	187
TABLE 136	MIURA CO., LTD.: PRODUCTS OFFERED	187
11.1.7	KYOCERA CORPORATION	188
TABLE 137	KYOCERA CORPORATION: BUSINESS OVERVIEW	188
FIGURE 49	KYOCERA CORPORATION: COMPANY SNAPSHOT, 2020	189
TABLE 138	KYOCERA CORPORATION: PRODUCTS OFFERED	189
TABLE 139	KYOCERA CORPORATION: PRODUCT LAUNCHES	190
11.1.8	SOLIDPOWER S.P.A	191
TABLE 140	SOLIDPOWER S.P.A.: BUSINESS OVERVIEW	191
TABLE 141	SOLIDPOWER S.P.A.: PRODUCTS OFFERED	191
TABLE 142	SOLIDPOWER: DEALS	192
TABLE 143	SOLIDPOWER: OTHERS	194
11.1.9	ELCOGEN AS	195
TABLE 144	ELCOGEN AS: BUSINESS OVERVIEW	195
TABLE 145	ELCOGEN AS: PRODUCTS OFFERED	195
TABLE 146	ELCOGEN AS: DEALS	196
11.1.10	CONVION LTD.	198
TABLE 147	CONION LTD.: BUSINESS OVERVIEW	198
TABLE 148	CONVION LTD.: PRODUCTS OFFERED	198
TABLE 149	CONVION LTD.: DEALS	199
TABLE 150	CONVION LTD.: OTHERS	200
11.1.11	SUNFIRE GMBH	201
TABLE 151	SUNFIRE GMBH: BUSINESS OVERVIEW	201
TABLE 152	SUNFIRE GMBH: PRODUCTS OFFERED	201
TABLE 153	SUNFIRE GMBH: DEALS	202
TABLE 154	SUNFIRE GMBH: OTHERS	207
11.1.12	H2E POWER SYSTEMS PVT. LTD.	208
TABLE 155	H2E POWER SYSTEMS PVT. LTD: BUSINESS OVERVIEW	208
TABLE 156	H2E POWER SYSTEMS PVT. LTD: PRODUCTS OFFERED	208
TABLE 157	H2E POWER SYSTEMS PVT. LTD (INDIA): DEALS	209
11.1.13	WATT FUEL CELL CORPORATION	210
TABLE 158	WATT FUEL CELL CORPORATION: BUSINESS OVERVIEW	210
TABLE 159	WATT FUEL CELL CORPORATION: PRODUCTS OFFERED	210
TABLE 160	WATT FUEL CELL CORPORATION: DEALS	211
11.1.14	UPSTART POWER, INC	212
TABLE 161	UPSTART POWER, INC.: BUSINESS OVERVIEW	212
TABLE 162	UPSTART POWER, INC: PRODUCTS OFFERED	212
11.2	OTHER PLAYERS	213
11.2.1	ZTEK CORPORATION	213
TABLE 163	ZTEK CORPORATION INC: BUSINESS OVERVIEW	213
11.2.2	SPECIAL POWER SOURCE	214
TABLE 164	SPECIAL POWER SOURCES: BUSINESS OVERVIEW	214
11.2.3	ADELAN	215
TABLE 165	ADELAN: BUSINESS OVERVIEW	215
11.2.4	AVL	215
TABLE 166	AVL: BUSINESS OVERVIEW	215
11.2.5	ADAPTIVE ENERGY	216
TABLE 167	ADAPTIVE ENERGY: BUSINESS OVERVIEW	216
11.3	R&D PLAYERS	217
11.3.1	ROBERT BOSCH GMBH	217
TABLE 168	ROBERT BOSCH GMBH: BUSINESS OVERVIEW	217
FIGURE 50	ROBERT BOSCH GMBH: COMPANY SNAPSHOT, 2020	218
TABLE 169	ROBERT BOSCH GMBH: DEALS	219
TABLE 170	ROBERT BOSCH GMBH: OTHERS	219
11.3.2	WEICHAI POWER CO., LTD	220
TABLE 171	WEICHAI POWER CO., LTD.: BUSINESS OVERVIEW	220
FIGURE 51	WEICHAI POWER CO., LTD.: COMPANY SNAPSHOT, 2020	221
TABLE 172	WEICHAI POWER CO., LTD.: DEALS	222
11.3.3	DOOSAN FUEL CELL CO., LTD.	223
TABLE 173	DOOSAN FUEL CELL CO., LTD.: BUSINESS OVERVIEW	223
FIGURE 52	DOOSAN FUEL CELL CO., LTD.: COMPANY SNAPSHOT, 2020	223
TABLE 174	DOOSAN FUEL CELL CO., LTD.: DEALS	224
11.3.4	FUEL CELL ENERGY	226
TABLE 175	FUEL CELL ENERGY: BUSINESS OVERVIEW	226
11.3.5	POSCO ENERGY	227
TABLE 176	POSCO ENERGY: BUSINESS OVERVIEW	227
11.3.6	CLARA VENTURE LABS	227
TABLE 177	CLARA VENTURE LABS: BUSINESS OVERVIEW	227
11.3.7	CUMMINS	228
TABLE 178	CUMMINS: BUSINESS OVERVIEW	228
*Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments might not be captured in case of unlisted companies.
 
12	APPENDIX	229
12.1	INSIGHTS OF INDUSTRY EXPERTS	229
12.2	DISCUSSION GUIDE	230
12.3	KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL	234
12.4	AVAILABLE CUSTOMIZATIONS	236
12.5	RELATED REPORTS	236
12.6	AUTHOR DETAILS	237
			        MarketsandMarkets