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Fuel Cell for Data Centers Market Set to Witness Explosive Growth by 2030
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According to the Market Statsville Group (MSG), the global Fuel Cell for Data Centers Market size is expected to grow from USD 117.46 million in 2021 to USD 429.64 million by 2030, at a CAGR of 15.6% from 2022 to 2030. As more companies adopt advanced technologies to provide constant power and reduce their carbon footprint, renewable energy and distributed generation (DG) are gaining the focus of the corporate culture. One such prime technology as a renewable energy source is a fuel cell. A fuel cell generates electricity by using an electrochemical reaction and depending on the fuel source, produces near to zero polluting emissions. Utilization of fuel cells allows onsite power generation, thereby reducing reliance on traditional grid systems and using grid electricity in case of the absence of fuel. Fuel cells have appeared as the most viable alternative to solar, wind, or grid-powered electricity due to low-cost financing, government subsidies, and the company’s desire to reduce its carbon footprint and energy costs.
Fuel cell adoption for corporate data centers is attracting the corporate culture to switch to fuel cell technology for powering data centers, driving the demand for fuel cells. Technological advancements in fuel cell usage for data centers are expected to drive the market during the forecast period. For instance, Microsoft Corporation is developing mini fuel cells for IT server racks, reducing the need for power electronics from central systems, resulting in high energy consumption. However, low-capital organizations are reluctant to employ fuel cells primarily due to increasing reliance on fuel as a power source.
Request for a sample report here: https://www.marketstatsville.com/request-sample/fuel-cell-for-data-centers-market
COVID–19 Impact on the Global Fuel Cell for Data Centers Market
The COVID-19 pandemic had a mixed effect on the fuel cells market. In some countries, like India, project delays were witnessed in the deployment of fuel cells in the transportation and commercial sectors. For instance, the National Hydrogen Energy Roadmapgoals could not be achieved in 2020 due to the pandemic. Providers have experienced the same problems as other businesses around the world owing to disrupted supply chains and the temporary shutdown of manufacturing facilities. In contrast, the data center industry can profit from Covid-19. Data centers have enabled digital commerce and online meetings, making digital infrastructure more important. That’s given the data center world a sense of achievement and kept digital businesses operating and growing, which results in augmenting fuel cell growth in the data center sector.
Scope of the Global Fuel Cell for Data Centers Market
The study categorizes the Fuel Cell for Data Centers market based on Product, Data Center, and Facility Type at the regional and global levels.
By Product Type Outlook (Sales, USD Million, 2017–2030)
- Hydrogen Fuel Cells
- Solid Oxide Fuel Cells
- Molten Carbonate Fuel Cells
- Phosphoric Acid Fuel Cells
By Data Center Type Outlook (Sales, USD Million, 2017–2030)
- ISPs (Internet Service Providers)
- CoLos (Co-located server hosting facilities)
- Server Farms
- Corporate Data Centers
- University/ National Laboratory
Direct Purchase Report: https://www.marketstatsville.com/buy-now/fuel-cell-for-data-centers-market?opt=2950
By Facility Type Outlook (Sales, USD Million, 2017–2030)
- Less than 200 sq. ft.
- 200-700 sq.ft.
- 700-1,200 sq.ft.
- 1,200-6,000 sq.ft.
- More than 6,000 sq.ft.
By Region Outlook (Sales, USD Million, 2017–2030)
- North America
- the Netherlands
- Czech Republic
- Rest of Europe
- Asia Pacific
- South Korea
- the Philippines
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Northern Africa
- Rest of MEA
Access full Report Description, TOC, Table of Figure, Chart, etc: https://www.marketstatsville.com/table-of-content/fuel-cell-for-data-centers-market
The Telecom segment is projected to account for the largest market share by Datacenter type
Based on datacenter type, the global fuel cell for the data center market is divided into Telecoms, ISP (Internet Service Provider), CoLos (Co-located server hosting facilities), Server Farms, Corporate Data Centers, University/ National Laboratory, and Others. The telecommunication segment accounted for the largest market share in the global fuel cell data center market, which relies on fuel cell data centers as primary and secondary power sources owing to a shortage of power supply. That apart, increasing production leads to a lower cost of production, which is expected to boost further the demand for a Fuel cell for data centers in the upcoming year.
Asia Pacific accounts for the highest CAGR during the forecast period
By region, North America’s market is witnessing the highest market share. In terms of growth opportunities in the Fuel cell for the data center market, Asia Pacific, with growing ICT spending and growing focus on renewable energy, is projected to generate high demand in the Fuel cell for the data center market. Further, emerging markets such as mainland China, India, and Indonesia continue to gain momentum. Other large emerging markets in Southeast Asia, such as Vietnam and Thailand, are coming into view as high potential markets with burgeoning local needs, which boosts the market’s growth.
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Key Market Players in the Global Fuel Cell for Data Centers Market
The fuel cell for the data center market is mildly focused in nature, with few numbers of global key players operating in the market, such as:
- FuelCell Energy, Inc.
- Bloom Energy Pvt. Ltd.
- Logan Energy
- AFC Energy
- Toshiba Fuel Cell Power Systems Corporation
- Plug Power
- Doosan Fuel Cell America, Inc
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