New York, NY -- (SBWire) -- 04/26/2019 --Fuel Cell for Data Centre Key Research Findings
Fuel cell for data centre market size in 2017 was US$ 66 Mn.
The fuel cell for data centre market will observe high growth of 15.5% over 2018-2028.
Power consumption by data centres is estimated to account for over 2% of total electricity consumption around the world. Energy consumption by data centres is anticipated to increase at a steady pace. For instance, recent studies suggest that data centres in the US alone utilized an annual energy of over 91 TWh in 2013, which is expected to increase by 6.3% and reach nearly 140 TWh by the end of 2020 (over 507.9 TWh, globally, by 2020).
Budding interest of prominent firms in the Silicon Valley, such as Microsoft, Apple and eBay, among others, in research, development and commercialization of fuel cells for data Centre has led to increased investments in the market. This is leading to a smooth disconnection from fossil fuel power plants and higher reliance on clean and highly efficient Fuel cell for data centre power sources
Major end-use industries for fuel cell for data centres, such as telecommunications, Internet service providers (ISP), corporate data centres, and server farms, rely on fuel cell for data centres as a primary as well as secondary power source owing to shortage of power supply. That apart, increasing production is leading to lower cost of production, which is expected to further boost the demand for Fuel cell for data centres in the upcoming year
By region, North America's fuel cell for data centre is projected to hold a relatively dominant share in the global fuel cell for data centre market.
In terms of growth opportunities in the Fuel cell for data centre market, Asia Pacific and MEA, with growing ICT spending and growing focus on renewable energy, are projected to generate high demand in the Fuel cell for data centre market.
The complexities of Data Centre operations, including network infrastructure and energy usage, encourage enterprises to bypass internal data centres and opt for co-location facilities. This will drive the growth of the commercial segment of the collocated data Centre, which in turn, will give a push to the Fuel cell for data centre market.
Top 3 Factors Shaping the Fuel Cell for Data Centre Market
Competitive Edge Among Renewable Energy Sources to Support the Growth of Fuel Cell for Data Centre Market
With oil & gas prices rising every year, renewable sources of energy are being seen as an alternative to power the data centres of tomorrow. However, solar and wind sources present various challenges to be practically implemented on ground level, among which, the requirement of open spaces for installation of these power plants is the key concern. As per the power density comparison, fuel cells for data centres require lesser space to generate the same amount of energy than it takes for a solar or wind facility.
Digitization is Positively Impacting Installation of Fuel Cell for Data Centre
A tremendous rise in the installation of new data centres has been observed around the world and attempts are being made to ramp up the existing capabilities of previously installed data centres. For data centres to work efficiently and with reduced carbon footprint, operators are shifting towards renewable energy sources, such as fuel cell for data centre power requirements. Hence, the demand for Fuel cell for data centres is anticipated to increase during the forecast period.
Ease of Power Distribution, Abating Transmission Losses, to Drive Growth of Fuel Cell for Data Centre
A significant share of CapEx (Capital Expenditure) and OpEx (Operating Expenditure) in data Centre comes from expensive power transmission systems. Installing fuel cells at the utility power level enhances the overall efficiency and has been observed to make a noteworthy impact on the fuel cell for data centre market.
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Global Fuel Cell for Data Centre Market Structure Analysis
The global Fuel cell for data centre market is a consolidated market wherein Tier 1 companies hold more than 60-70% revenue share.
Top companies in the Fuel cell for data centre market include Bloom Energy, FuelCell Energy, Inc., Doosan Fuel Cell America Inc., Plug Power Inc., Toshiba Fuel Cell Power Systems Corporation (TFPC), Hydrogenics, Panasonic Corporation, Logan Energy Limited, AFC Energy PLC, Plug Power Inc., and Ballard Power Systems Inc.
As part of their business strategy, prominent fuel cell for data centre players have been focusing on gaining market share in North America, East Asia, and Europe markets as these regions account for the dominant share in terms of production.
As a differentiating strategy, fuel cell for data centre market participants are focusing on cost reduction and development of highly efficient Fuel cell systems to be used in fuel cell for data centres.
Global Fuel Cell for Data Center Market to Witness Stellar Revenue Growth Across Top Regional Pockets
With oil & gas prices rising every year, renewable sources of energy are being seen as an alternative to power the data centres of tomorrow.