The "Fuel Cell Generator Market by Type (PEMFC, SOFC, AFC), End User (Marine, Aquaculture, Construction, Agriculture, Data Center, Emergency Response Generator), Region (North America, Europe, Asia Pacific, Rest of the World) - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global fuel cell generator market size is estimated to be USD 0.3 billion in 2022 and is projected to reach USD 1.4 billion by 2030, at a CAGR of 19.9%.
The market has a promising growth potential due to several factors, including the stringent norms on GHG emissions across the globe, increasing R&D grants, and the increasing need of energy-efficient power generation.
Data center: The largest segment of the fuel cell generator market, by end user.
This segment includes backup power solutions installed in data centers. Growing requirement for backup power during outages is expected to fuel the growth of the data centers segment. The need to process massive amounts of data will only become more critical as technology continues to touch our daily lives in our increasingly digitized environment.
The Internet of Things (IoT) will continue to develop, allowing us to improve almost every aspect of our lives. The technology can be utilized to improve manufacturing operations and equipment monitoring.
North America: The largest region in the fuel cell generator market.
North America is one of the leading markets which is continuously shifting its focus toward green and renewable technologies to meet the targets set by the governments for reducing GHG emissions.
Furthermore, countries such as US and Canada are increasing their investments to adopt fuel cell technology.
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
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View source version on businesswire.com: https://www.businesswire.com/news/home/20220811005640/en/
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