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Global Fuel Cell for Data Centers Market Analysis by Type, Application, End Use, Size, Region and segments forecast till 2033
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. |
Global 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 countrys 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.
Global 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 worlds 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.
Global 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
Why to buy this Report?
The report provides quantitative and qualitative aspect for Global Fuel Cell for Data Centers Market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both Technology and consumption point of view at the regional and country level. Key Factors considered within the report scope are Technology Type capacity by countries/regions, average End user, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in Global Fuel Cell for Data Centers Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
Business Model
Technology, Capacity, Revenue, Sales, Gross Margin
Key Business Strategy
SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the Card Technology Vehicle Type in taking a key decision within the business:
Company Share Analysis from 2020-2022
Company Analysis by Revenue and Sales
Company Technology Type Capacity, Gross Margin
Company Share Analysis by Technology Type/ Technology Vehicle Type
Company Share Analysis by Technology Type/Specification