Press release
Fuel Cell for Data Center Market is expected to grow at a CAGR of 4.6% from 2023-2028
Fuel Cell for Data Center Market
The long-term outlook on the global fuel cell for data centre market remains optimistic with the market being valued at over US$ 66 Mn at the end of 2020. The market is anticipated to be valued at over US$ 278 Mn at the end of 2028. The Fuel Cell for Data Center Market is expected to grow at a CAGR of 4.6% from 2020-2028
PMR presents an in-depth analysis and presents key insights on the global fuel cell for data centre market in its latest market study titled 'Fuel Cell for Data Centre Market: Global Industry Analysis 2013 - 2017 and Forecast 2018 - 2028'
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With increasing influence of digitization in every sector, massive data generation has been witnessed in recent times. This has compelled installation of large scale data centres. This coupled with the transition towards cloud computing is collectively propelling the demand for huge electricity requirements.
Increasing interest of end users in employing fuel cells for powering data centres has been the key interest of this market study. A comprehensive study related to various segments, such as power, product type and end use, has been provided across regions to get a better understanding of the fuel cell for data centre market at global as well as regional and country levels.
Key Companies-
• FuelCell Energy, Inc.
• Altergy
• Bloom Energy pvt. Ltd.
• Logan Energy
• AFC Energy
• Toshiba Fuel Cell Power Systems Corporation
• Plug Power
• Panasonic
• Hydrogenics
• Ballard
The market for fuel cells in data centers is expected to grow at a significant rate in the coming years. This growth can be attributed to several factors, including increasing concerns about carbon emissions and the need for reliable and sustainable power sources in data centers. Additionally, advancements in fuel cell technology and the availability of government incentives and funding for fuel cell research and development are also driving market growth.
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Global Fuel Cell for Data Centre Market Segmentation Analysis
The fuel cell for data centre market has been classified in terms of product type into PEM Fuel Cell for Data Centre, Solid Oxide Fuel Cell for Data Centre, Molten Carbon Fuel Cell for Data Centre and Phosphoric Acid Fuel Cell for Data Centre.
Among product types, the PEM Fuel Cell for Data Centre segment is estimate to remain at the forefront of the fuel cell for data centre market in value-volume terms and is anticipated to create lucrative opportunities over the forecast period
The Molten Carbon Fuel Cell for Data Centre segment is projected to grow at a healthy growth rate. Its market valuation is expected to expand by nearly 4.3X between 2018 and 2028
Global Fuel Cell for Data Centre Market Regional Forecast
Regionally, North America accounts for a prominent portion of the global fuel cell for data centre market. Europe is the only other region with double digit market share. Accounting for a significant revenue proportion in the global fuel cell for data centre market, East Asia is anticipated to register noteworthy CAGR during the forecast period.
The global fuel cell for data centre market is expected to grow with 15.5% annual growth rate while the Latin America fuel cell for data centre market, East Asia fuel cell for data centre market and Middle East & Africa fuel cell for data centre market are expected to grow at a decently high rate owing to increased data centre installation in the region.
North America and Europe are the major markets for fuel cells in data centers, due to the presence of several leading data center companies in these regions. Asia-Pacific is expected to be the fastest-growing market for fuel cells in data centers, driven by the growing adoption of fuel cells in countries such as Japan, South Korea, and China.
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Fuel Cell for Data Centre Market: Research Methodology
In order to offer an accurate forecast, the team started by sizing the current market, forming the basis of how the global fuel cells for data centre market is expected to develop in the future. The global fuel cell for data centre market values represented were agglomerated by collecting data and information at a regional level.
Given the characteristics of the fuel cells for data centre market, triangulation of the primary research, secondary research and our own analysis was performed. However, forecasting the market in terms of various segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalizing them after the completion of the forecast exercise.
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