Fuel Cell for Data Centers Market Size, Industry Analysis Report By Type (PEMFC, SOFC, PAFC, MFC, AFC, DMFC), By Application (Portable, Stationary, Fuel Cell Vehicles), By End-user (Commercial and Industrial, Data Centers, Transportation, Military and Defence, Residential , Utilities and Government or Municipal Institute) & Region - Forecasts By 2033
- PUBLISHED ON
- 2024-06-13
- NO OF PAGES
- 256
- CATEGORY
- Energy & Power
Market Overview
Global Fuel Cell for Data Centers Market valued at USD 3,650 million in 2023 is anticipated to reach a value of USD 23,210 million in 2033, growing at a CAGR of 26.0%.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 3,650 Million |
Market Forecast in 2033 | USD 23,210 Million |
CAGR % 2023-2033 | 26.0% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product Type, end-user industry, company share, company heatmap, company Application Technology Type capacity, growth factors and more |
Segments Covered | Type, Application, End User, Size |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | Bloom Energy, Doosan Fuel Cell Co., Ltd., Aisin Corporation, Plug Power Inc., KYOCERA Corporation, Ceres, Cummins Inc., PowerCell Sweden, TOSHIBA CORPORAT, Ballard Power Systems, SFC Energy AG. |
Fuel Cell for Data Centers Market: Description
A fuel cell generates electricity using an electrochemical reaction, not combustion, and depending on the fuel source, produces near to zero polluting emissions. Utilization of fuel cell allows onsite power generation thereby reducing reliance over traditional grid system and using grid electricity in case of absence of fuel.
Fuel cells have emerged as the most viable alternative to solar, wind or grid-powered electricity due to low cost financing, government subsidies, and the companies desire to reduce their carbon footprint and energy costs. He growing demand for clean power generation with less or no emission is the primary factors driving market growth.
Moreover, various rules and regulations on carbon emission across the globe will drive the demand for fuel cells in the near future. Technological advancements in fuel cell usage specifically for data centers is expected the drive the market during the forecast period. In recent times, digitalization has touched every part of life including businesses. With wide acceptance of digitalization in regular work, the companies from various sectors are generating massive data.
With political leaders across the global coming together to reduce their country’s carbon footprint and signing of Paris agreement has given a boost to green and renewable technologies to set themselves in markets. Fuel cells being a non-emission solution for power generation fits the category green and renewable technologies and is growing owing to the carbon emission norms.
Fuel cell is itself a very expensive technology which directly affects the cost of fuel cell electric vehicles. The price of the 2019 Toyota Mirai is almost USD 58,500 in the US, whereas the 2019 Tesla Model 3 costs USD 36,000. The huge price difference between battery electric and fuel cell vehicles is a major challenge for the growth of FCEV sales.
Fuel Cell for Data Centers Market- Segmental Analysis:
Type Insights
The PEMFC segment accounted for a significant revenue share in 2022 and is anticipated to grow at a significant CAGR.
Application Insights
The Portable segment held the largest revenue share of 26.7%. The segment is anticipated to witness a CAGR of 6.1% over the projected period.
End User Industry Insights
Commercial & Industrial end user segment to grow at the fastest pace in the forecast period. Almost every type of fuel cell can be used by commercial & industrial end users which enables them to curb GHG emissions.
Size Insights
Small scale (up to 200 kW) segment held the majority of market share by fuel cell size in global fuel cell market.
Regional Insights
The Global Fuel Cells for Data Centers market is further segmented into five major countries- North America, Europe, Asia-pacific, Latin America, Middle East and Africa. Asia Pacific is the largest region in the fuel cell market. China recently upgraded its fuel cell policy in March 2022 and unveiled a blueprint for fuel cell technology deployment by 2035 in the country. This blueprint is designed under National Development and Reform Commission. China is the world’s largest automotive market, which supports the rapid growth of technologies such as fuel cell vehicles as compared to other regions.
Competitive Analysis
Bloom Energy, Doosan Fuel Cell Co., Ltd., Aisin Corporation, Plug Power Inc., KYOCERA Corporation, Ceres, Cummins Inc., PowerCell Sweden, TOSHIBA CORPORAT, Ballard Power Systems, SFC Energy AG.
· In January 2022, Doosan Fuel Cell Co., Ltd. and Korea Hydro & Nuclear Power (KHNP) signed an agreement for strengthening Hydrogen Fuel Cell Operation and Maintenance Capabilities. The two companies will work together to produce a roadmap for hydrogen fuel cell operation and maintenance technical training, as well as a local green hydrogen fuel cell project for distributed power, under the terms of the agreement.
· In February 2022, Renault Group and Plug Power Inc. entered into a joint venture with formation of HYVIA to work on low-carbon mobility and hydrogen fuel cells.
Fuel Cell for Data Centers Market- Segmental Analysis
Based on Type
• PEMFC
• SOFC
• PAFC
• MFC
• AFC
• DMFC
Based on Application
• Portable
• Stationary
• Fuel Cell Vehicles
Based on End-user
• Commercial and Industrial
• Data Centers
• Transportation
• Military and Defence
• Residential
• Utilities and Government or Municipal Institute
Based on Size
• Small Scale
• Large Scale
1.
Global
Fuel Cell for Data Centers Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global Fuel Cell for Data
Centers Market Scope and Market Estimation
1.2.1. Global Fuel Cell for Data
Centers Overall Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast
(2023 - 2033)
1.2.2. Global Fuel Cell for Data
Centers Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2033
1.3. Market Segmentation
1.3.1. Type of Global Fuel Cell for
Data Centers Market
1.3.2. Application of Global Fuel Cell
for Data Centers Market
1.3.3. End-user of Global Fuel Cell for
Data Centers Market
1.3.4. Size of Global Fuel Cell for
Data Centers Market
1.3.5. Region of Global Fuel Cell for
Data Centers Market
2.
Executive Summary
2.1. Global Fuel Cell for Data Centers Market Industry Trends under COVID-19 Outbreak
2.1.1. Global COVID-19 Status Overview
2.1.2. Influence of COVID-19 Outbreak
on Global Fuel Cell for Data Centers Market
Industry Development
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Limitations
2.2.3. Opportunities
2.2.4. Impact Analysis of Drivers and
Restraints
2.3. Pricing Trends Analysis & Average
Selling Prices (ASPs)
2.4. Key Mergers & Acquisitions,
Expansions, JVs, Funding / VCs, etc.
2.5. Porter’s Five Forces Analysis
2.5.1. Bargaining Power of Suppliers
2.5.2. Bargaining Power of Buyers
2.5.3. Threat of Substitutes
2.5.4. Threat of New Entrants
2.5.5. Competitive Rivalry
2.6. Value Chain / Ecosystem Analysis
2.7. Russia-Ukraine War Impacts
Analysis
2.8. Economic Downturn Analysis
2.9. Market Investment Opportunity
Analysis (Top Investment Pockets), By Segments & By Region
3.
Global
Fuel Cell for Data Centers Market Estimates & Historical Trend Analysis (2019 -
2022)
4.
Global
Fuel Cell for Data Centers Market Estimates & Forecast Trend Analysis, by Type
4.1. Global Fuel Cell for Data
Centers Market Revenue (US$ Mn) Estimates and Forecasts, by Type, 2019 to 2033
4.1.1. PEMFC
4.1.2. SOFC
4.1.3. PAFC
4.1.4. MFC
4.1.5. AFC
4.1.6. DMFC
5.
Global
Fuel Cell for Data Centers Market Estimates & Forecast Trend Analysis, by Application
5.1. Global Fuel Cell for Data
Centers Market Revenue (US$ Mn) Estimates and Forecasts, by Application, 2019 to 2033
5.1.1. Portable
5.1.2. Stationary
5.1.3. Fuel Cell Vehicles
6.
Global
Fuel Cell for Data Centers Market Estimates & Forecast Trend Analysis, by End-user
6.1. Global Fuel Cell for Data
Centers Market Revenue (US$ Mn) Estimates and Forecasts, by End-user, 2019 to 2033
6.1.1. Commercial and Industrial
6.1.2. Data Centers
6.1.3. Transportation
6.1.4. Military and Defence
6.1.5. Residential
6.1.6. Utilities and Government
6.1.7. Municipal Institute
7.
Global
Fuel Cell for Data Centers Market Estimates & Forecast Trend Analysis, by Size
7.1. Global Fuel Cell for Data
Centers Market Revenue (US$ Mn) Estimates and Forecasts, by Size,
2019 to 2033
7.1.1. Small Scale
7.1.2. Large Scale
8.
Global
Fuel Cell for Data Centers Market Estimates & Forecast Trend Analysis, by Region
8.1. Global Fuel Cell for Data
Centers Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2033
8.1.1. North America
8.1.2. Europe
8.1.3. Asia Pacific
8.1.4. Middle East & Africa
8.1.5. South America
9.
North America Fuel Cell for Data Centers Market: Estimates & Forecast Trend Analysis
9.1.
North
America Fuel Cell for Data Centers Market Assessments & Key Findings
9.1.1. North America Fuel Cell for Data
Centers Market Introduction
9.1.2. North America Fuel Cell for Data
Centers Market Size Estimates and Forecast (US$ Million) (2019 – 2033)
9.1.2.1. By Type
9.1.2.2. By Application
9.1.2.3. By End-user
9.1.2.4. By Size
9.1.2.5. By Country
9.1.2.5.1. The U.S.
9.1.2.5.2. Canada
9.1.2.5.3. Mexico
10. Europe
Fuel Cell for Data
Centers Market: Estimates &
Forecast Trend Analysis
10.1. Europe Fuel Cell for Data
Centers Market Assessments & Key Findings
10.1.1. Europe Fuel Cell for Data
Centers Market Introduction
10.1.2. Europe Fuel Cell for Data
Centers Market Size Estimates and Forecast (US$ Million) (2019 – 2033)
10.1.2.1. By Type
10.1.2.2. By Application
10.1.2.3. By End-user
10.1.2.4. By Size
10.1.2.5. By Country
10.1.2.5.1. Germany
10.1.2.5.2. U.K.
10.1.2.5.3. France
10.1.2.5.4. Italy
10.1.2.5.5. Spain
10.1.2.5.6. Russia
10.1.2.5.7. Rest of Europe
11. Asia
Pacific Fuel Cell
for Data Centers Market: Estimates
& Forecast Trend Analysis
11.1. Asia Pacific Market Assessments
& Key Findings
11.1.1. Asia Pacific Fuel Cell for Data
Centers Market Introduction
11.1.2. Asia Pacific Fuel Cell for Data
Centers Market Size Estimates and Forecast (US$ Million) (2019 – 2033)
11.1.2.1. By Type
11.1.2.2. By Application
11.1.2.3. By End-user
11.1.2.4. By Size
11.1.2.5. By Country
11.1.2.5.1. China
11.1.2.5.2. Japan
11.1.2.5.3. India
11.1.2.5.4. Australia
11.1.2.5.5. South Korea
11.1.2.5.6. ASEAN
11.1.2.5.7. Rest of Asia Pacific
12. Middle
East & Africa Fuel
Cell for Data Centers Market: Estimates
& Forecast Trend Analysis
12.1. Middle East & Africa Market
Assessments & Key Findings
12.1.1. Middle
East & Africa Fuel
Cell for Data Centers Market Introduction
12.1.2. Middle
East & Africa Fuel
Cell for Data Centers Market Size Estimates and Forecast (US$ Million) (2019 – 2033)
12.1.2.1. By Type
12.1.2.2. By Application
12.1.2.3. By End-user
12.1.2.4. By Size
12.1.2.5. By Country
12.1.2.5.1. U.A.E.
12.1.2.5.2. Saudi Arabia
12.1.2.5.3. Egypt
12.1.2.5.4. South Africa
12.1.2.5.5. Rest of Middle East & Africa
13. South
America Fuel Cell
for Data Centers Market: Estimates
& Forecast Trend Analysis
13.1. South America Market Assessments
& Key Findings
13.1.1. South America Fuel Cell for Data
Centers Market Introduction
13.1.2. South America Fuel Cell for Data
Centers Market Size Estimates and Forecast (US$ Million) (2019 – 2033)
13.1.2.1. By Type
13.1.2.2. By Application
13.1.2.3. By End-user
13.1.2.4. By Size
13.1.2.5. By Country
13.1.2.5.1. Brazil
13.1.2.5.2. Argentina
13.1.2.5.3. Colombia
13.1.2.5.4. Rest of South America
14. Competition
Landscape
14.1. Global Fuel Cell for Data
Centers Market Competition Matrix & Benchmarking, by Leading Players /
Innovators / Emerging Players / New Entrants
14.2. Global Fuel Cell for Data
Centers Market Competition White Space Analysis, By End-user
14.3. Global Fuel Cell for Data
Centers Market Competition Heat Map Analysis, By End-user
14.4. Global Fuel Cell for Data
Centers Market Concentration & Company Market Shares (%) Analysis, 2022
15. Company
Profiles
15.1.
Bloom Energy
15.1.1. Company Overview & Key Stats
15.1.2. Financial Performance & KPIs
15.1.3. Product Portfolio
15.1.4. Business Strategy & Recent Developments
* Similar details would be provided
for all the players mentioned below
15.2. Doosan Fuel
Cell Co., Ltd.
15.3. Aisin
Corporation
15.4. Plug Power
Inc.
15.5. KYOCERA
Corporation
15.6. Ceres
15.7. Cummins Inc.
15.8. PowerCell
Sweden
15.9. TOSHIBA
CORPORAT
15.10. Ballard Power
Systems
15.11. SFC Energy AG.
15.12. Others**
16. Research Methodology
16.1. External Transportations /
Databases
16.2. Internal Proprietary Database
16.3. Primary Research
16.4. Secondary Research
16.5. Assumptions
16.6. Limitations
16.7. Report FAQs
17. Research Findings &
Conclusion
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
- Project kickoff meeting with client
- Conduct frequent client communications
- Form project steering committee
- Assign a senior SR executive as QA Executive
- Conduct internal editorial & quality reviews of project deliverables
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- Monitor client satisfaction
- Monitor realized value post-project
Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The Global Fuel Cell for Data Centers Market valued at USD 3,650 million in 2023 is anticipated to reach a value of USD 23,210 million in 2033, growing at a CAGR of 26.0%.
What are the drivers shaping various markets?
Fuel cells have emerged as the most viable alternative to solar, wind or grid-powered electricity due to low cost financing, government subsidies, and the companies desire to reduce their carbon footprint and energy costs. He growing demand for clean power generation with less or no emission is the primary factors driving market growth.
Who are the key competitors of market Players?
Some of the major players operating within the market are Bloom Energy, Doosan Fuel Cell Co., Ltd., Aisin Corporation, Plug Power Inc., KYOCERA Corporation, Ceres, Cummins Inc., PowerCell Sweden, TOSHIBA CORPORAT, Ballard Power Systems, SFC Energy AG.
What are the top performing segments, and countries / regions of each of the markets?
The Global Fuel Cells for Data Centers market is further segmented into five major countries- North America, Europe, Asia-pacific, Latin America, Middle East and Africa. Asia Pacific is the largest region in the fuel cell market.
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