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