Fuel Cell for Data Center Market Projected to Reach US$ 278 Mn by 2028 - Persistence Market Research

Shifting Trend from Conventional to Renewable Energy Sources Positions Fuel Cells in the Limelight to Power Data Centres Shifting Trend from Conventional to Renewable Energy Sources Positions Fuel Cells in the Limelight to Power Data Centres PMR suggests that the global market for fuel cell for data centres is estimated to register healthy growth throughout the forecast period. This can mainly be attributed to the fact that data centres consume around 2%-3% of the global electricity, which...

Shifting Trend from Conventional to Renewable Energy Sources Positions Fuel Cells in the Limelight to Power Data Centres

PMR suggests that the global market for fuel cell for data centres is estimated to register healthy growth throughout the forecast period. This can mainly be attributed to the fact that data centres consume around 2%-3% of the global electricity, which results in increased carbon footprint. Responding to high energy costs and growing environmental concerns, data centre holding companies are looking for alternatives to renewable sources of energy.

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Market players are now focusing on fuel cells as an alternative source of energy since they require lesser space compared to wind and solar farms and higher efficiency than its counterparts, among other characteristics. Another factor having a positive impact on the fuel cell for data centre market is the trend of digitization. The digital revolution has penetrated every sector and industry and has staggered the data generated and exponentially increased the need for processing, storage & management of data, thereby positively impacting the fuel cell for data centre marketplace. To provide cyber security, new age data centres are opting to locally generate electricity, which is further fuelling the prevalence of off-site data centres, propelling the market for fuel cell for data centres.

Though the high initial cost is a hindrance to market growth, large scale production and wide adoption of fuel cells for data centres will lead to lowered prices. Keeping aside the merits of fuel cells, these have certain shortcomings when employed in data centre facilities. The sluggish response of fuel cells to changing power load may prove to be a challenge for the fuel cell for data centre manufacturers.

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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.     

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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.

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Global Fuel Cell for Data Centre Market Competition Landscape

The report highlights some of the top companies operating in the global fuel cell for data centre market, including Bloom Energy, Doosan Fuel Cell America, Inc., FuelCell Energy, Inc., Altergy, Logan Energy, AFC Energy, Toshiba Fuel Cell Power Systems Corporation, Plug Power, Panasonic Corporation, Hydrogenics and Ballard Power Systems, among others.

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