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Fuel Cell for Data Centers Market Size, Share, Revenue Opportunity, Competitive Analysis and Forecast 2022-2030 | (CAGR) of 15.1%

Report Ocean published the latest research report on the Fuel Cell for Data Centers market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Fuel Cell for Data Centers market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate.

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The global fuel cell for data centers market size was US$ 118.4 million in 2021. The global fuel cell for data centers market is forecast to grow to US$ 421.1 million by 2030 by growing at a compound annual growth rate (CAGR) of 15.1% during the forecast period from 2022 to 2030.

Fuel cell develops electricity by undergoing an electrochemical reaction which causes zero polluting emissions. Fuel cells generate onsite power, which significantly declines the reliance on traditional grid systems.

Factors Influencing the Market

The global fuel cell for data centers market is forecast to be driven by the increasing number of companies adopting advanced technologies to reduce their carbon footprint. Furthermore, renewable energy and distributed generation (DG) technology is forecast to gain significant traction in the coming years as companies are shifting toward eco-friendly solutions. As a result, it will drive the growth of the global fuel cell for the data centers market.

Technological advancements in fuel cell usage for data centers are forecast to benefit the market. For instance, Microsoft Corporation, one of the prominent industry players, is developing mini fuel cells for IT server racks. The technology will reduce the need for power electronics from central systems. Thus, such advancements will bring lucrative growth opportunities for the market.

COVID-19 Impact Analysis

The COVID-19 pandemic negatively affected the manufacturing of fuel cells in the transportation and commercial sectors, which hampered the growth of the market. For instance, the National Hydrogen Energy Roadmap goals were not possible to achieve due to manufacturing disruptions, import-export restrictions, and a shortage of laborers. Moreover, technology providers also experience a myriad of problems. However, the data center industry has witnessed significant profit during the COVID-19 pandemic due to growing digital infrastructure. Thus, it augmented the growth of the fuel cell industry in the data center sector.

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Regional Analysis

Based on Region, fuel cells for data centers witnessed the largest contribution in North America due to growing ICT spending and increasing awareness related to renewable energy. As a result, it is expected to generate high demand in the fuel cell for the data center market during the forecast period. Furthermore, the market is expected to experience significant growth in Asia-Pacific due to the presence of emerging markets such as mainland China, India, and Indonesia.

Competitors in the Market

  • FuelCell Energy, Inc.
  • Altergy
  • Bloom Energy Pvt. Ltd.
  • Logan Energy
  • AFC Energy
  • Toshiba Fuel Cell Power Systems Corporation
  • Plug Power
  • Panasonic
  • Doosan Fuel Cell America, Inc
  • Ballard
  • Other Prominent Players

Market Segmentation

The global fuel cell for data centers market segmentation focuses on Product, Data Center, Facility Type, and Region.

By Product Type Outlook

  • Hydrogen Fuel Cells
  • Solid Oxide Fuel Cells
  • Molten Carbonate Fuel Cells
  • Phosphoric Acid Fuel Cells

By Data Center Type Outlook

  • Telecoms
  • ISPs (Internet Service Providers)
  • CoLos (Co-located server hosting facilities)
  • Server Farms
  • Corporate Data Centers
  • University/ National Laboratory
  • Others

By Facility Type Outlook

  • 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.

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By Regional Outlook

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • Western Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Western Europe
  • Eastern Europe
  • Poland
  • Russia
  • Rest of Eastern Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • Rest of Asia Pacific
  • Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
  • South America
  • Brazil
  • Argentina
  • Rest of South America

What factors are taken into consideration when assessing the key market players?

  • The report analyzes companies across the globe in detail.
  • The report provides an overview of major vendors in the market, including key players.
  • Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.
  • This report includes a comparison of market competitors and a discussion of the standpoints of the major players.
  • Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.

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