According to a new industry report released by Fact.MR, revenue of the Global Fuel Cell for Data Center Market is estimated at US$ 178.3 million in 2024 and is forecasted to increase at a CAGR of 15.6% to achieve a value of US$ 759.85 million by the end of 2034.

The world is seeing an increase in the number of data centres as data-intensive technologies such as cloud computing, artificial intelligence (AI), the Internet of Things (IoT), and others gain traction. These technologies generate massive volumes of data, necessitating continuous processing, storing, and analysis, among other operations that increase energy requirements.

Scalable and sustainable energy solutions are gaining popularity as more data centres are created throughout the world to meet growing demand. Fuel cells are becoming a vital component of the energy-intensive infrastructure found in modern data centres due to their consistent power source, low emissions, and high efficiency.

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Key Takeaways from Market Study:

• The global market for fuel cells for data centers is analyzed to touch a valuation of US$ 759.85 million by the end of 2034.
• In 2024, North America is estimated to hold 26.2% of the worldwide market share.
• The market in China is forecasted to generate revenue of US$ 85.9 million by the end of 2034.
• The market in South Korea is evaluated to increase at a CAGR of 15.9% between 2024 and 2034.
• Based on product type, hydrogen fuel cells are analyzed to account for 41.7% of the revenue share in 2024.
• The East Asia region is estimated to reach a size of US$ 179.33 million by 2034-end.
• The United States is approximated to hold 84.7% portion of the North American region in 2024.

“To meet customer requirements, prominent companies in the market are expanding their portfolios by developing multiple technologies (PEMFC and SOFC) and combining complementary solutions such as energy management systems, storage, and hybrid systems,” says a Fact.MR analyst

Leading Players Driving Innovation in the Fuel Cells for Data Centers Market:

Plug Power; Hydrogenics; Ballard; FuelCell Energy, Inc.; Bloom Energy Pvt. Ltd.; Toshiba Fuel Cell Power Systems Corporation; Altergy; AFC Energy; Doosan Fuel Cell America, Inc.; Panasonic; Logan Energy; Bloom Energy Pvt. Ltd.; ESB Group; Bloom Energy Corporation.

Hydrogen Fuel Cells Becoming Preferred Choice:

The enhanced efficiency and environmental benefits of hydrogen fuel cells have created a significant demand for them. Businesses looking for sustainable energy solutions are finding hydrogen fuel cells to be an appealing option because they emit only water vapour as a byproduct during the chemical process that generates power.

Hydrogen is produced from a variety of sources, including renewables, which increases supply flexibility. Its high energy density enables longer running hours, which is critical for data centres that demand consistent, uninterrupted power. The need for hydrogen fuel is constantly increasing as more businesses prioritise energy efficiency and carbon reduction, which fall under the heading of clean fuel sources.

Fuel Cells for Data Centers Industry News:

• In October 2024, a significant role for green hydrogen is becoming apparent in the shift to sustainable energy. In light of this, Microsoft and Irish energy provider ESB teamed up and launched a groundbreaking green hydrogen pilot program.
• In July 2024, a global pioneer in solid oxide fuel cell technology, Bloom Energy Corporation partnered with CoreWeave, Inc. in a strategic alliance. This victory highlights Bloom's capacity to satisfy the escalating energy requirements of the quickly expanding AI industry.

More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the fuel cell for data center market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on product type (hydrogen, solid oxide, molten carbonate, phosphoric acid), data center type (telecoms, ISP’s, CoLos, server farms, corporate data centers, universities/ national laboratories), and facility (less than 200 sq. ft., 201 to 700 sq. ft., 701 to 1,200 sq. ft., 1,201 to 6,000 sq. ft., more than 6,000 sq. ft.), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).

Source: https://www.globenewswire.com/news-release/2024/11/06/2975528/0/en/Fuel-Cell-for-Data-Center-Market-is-Projected-to-Reach-US-759-85-Million-by-2034-Growing-at-a-15-6-CAGR-Fact-MR-Report.html