The global fuel cell for data centre market is foreseen to show stupendous growth during the forecast period of 2020 to 2030. One of the key reasons driving the market growth is increased interest of major companies from all sectors to employ fuel cells for powering data centres. Fuel cell can be defined as an electrochemical cell that holds an ability to convert chemical energy of a fuel (normally hydrogen) and an oxidizing agent (mostly oxygen) into electricity. This process is completed using redox reactions.
An upcoming research report from TMR on the fuel cell for data centre market is intended to provide in-depth analysis of vital elements supporting or obstructing market growth. In addition, this report will offer reliable data on volume, shares, revenues, and potential growth avenues in the market for fuel data for data centre. Thus, the report offers valuable insights of the fuel cell for data centre market during the forecast period of 2020 to 2030.
The global fuel cell for data centre market is segmented on the basis of various key factors such as power, product type, end-use, and region. Based on product type, the market for fuel cell for data centre is classified into solid oxide fuel cell, proton exchange membrane fuel cell (PEM), molten carbonate, and phosphoric acid fuel cell.
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. As a result, the need for the installation of large-scale data centres has arrived. This situation is working as a driver for the global fuel cell for data centre market.
The global fuel cell for data centre market is growing on the back of increasing demand from various end-users such as Internet service providers (ISPs), telecommunication, corporate data centres, CoLos (Co-located server hosting facilities), educational and research institutes, government establishments, and server farms.
The government bodies of many countries have increased initiatives to encourage the use of green energy. As a result, they are offering noteworthy tax reduction facilities on the acceptance of fuel cell technique in corporate data centres. This factor is boosting the growth of the global fuel cell for data centre market.
The global fuel cell for data centre market is fairly fragmented in nature. Presence of many players connotes that the competitive landscape of the market for fuel cell for data centre is extremely intense. Enterprises working in the market are executing diverse strategies to maintain the prominent position. Several vendors are focused on attracting their customers by offering cost-efficient and superior quality fuel cell systems. All these activities connote that the fuel cell for data centre market will grow at rapid pace in the years ahead.
The list of key players in the global fuel cell for data centre market includes:
The global fuel cell for data centre market is spread across seven key regions, namely, North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East and Africa. Of them, North America is one of the leading regions of the market for fuel cell for data centre. The region is expected to hold lion’s share in the market during the forecast period of 2020 to 2030. This aside, the fuel cell for data centre market is foreseen to witness remarkable expansion avenues in East Asia and South Asia. Key reason for this growth is presence of countries such as India and China in these regions.
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