Fuel Cell Energy, Inc. The global market is deemed to stay mature untilowing to the strategic alliances of established companies with local players to tap into the unexplored markets of emerging economies.
Share Tweet As more companies look for reliable, resilient technologies to provide constant power as well as reduce its carbon footprint, distributed generation DG and renewable energy are gaining focus of the corporate culture.
One of such prime technology as a renewable source of energy is fuel cell. 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. Significant tax reduction on fuel cell adoption for corporate data centers, thus luring the corporate culture to switch to fuel cell technology for powering data centers is primarily expected to increase the demand for fuel cell in near future.
The report “Fuel Cell Technology Market by type (PEMFC, MCFC, SOFC, DMFC, PAFC, OTHERS), by Application (Stationary, Portable, Transportation) and Geography - Global Trends and Forecasts till ” defines and segments the global fuel cell market, with an analysis and forecast of the market size. Key Findings of the global fuel cell market. Innovation in fuel cell technology and rising public-private partnership is fueling the growth of the global fuel cell market. Asia Pacific is anticipated to account for the largest revenue share in Global Fuel Cell Market size for crossed USD 2 billion and the annual shipment is set to exceed MW by ; analysis provided by product (PEMFC, DMFC, SOFC), by application (stationary, portable, transport) and more.
Technological advancements in fuel cell usage specifically for data centers is expected the drive the market during the forecast period. For instance, Microsoft Corporation is developing mini fuel cells for IT server racks thereby reducing the need for power electronics from central systems which results in high energy consumption.
However, low capital organization are reluctant to employ fuel cell primarily due to increasing reliance over fuel as a source of power. Majority of the companies operating huge data centers are signing long term lease contract or purchase agreements instead of owning them as fuel cells have a long term payback period for their capital investments.
Based on facility the market can be segmented into less than sq. Global Fuel Cell for Data Center Market is expected to encounter significant growth during the forecast period. North America dominates the fuel cell market for data center, followed by North America, Europe is the next major market for the fuel cell market for data center.
Asia Pacific is emerging market for the Fuel cell system, and is anticipated to represent substantial growth during the forecast period, particularly in regions such as China and India.
Japan is other significant region and expected to contribute major share in the global fuel cell market for data center. Ankush is an avid music listener and loves to travel.
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The first fuel cell theory and application resource written for students and professionals. With the field of fuel cells growing at a rapid pace, there is a powerful need for a single guide to the myriad disciplines related to the technology.