The Data Center Substation Market revenue totaled US$ 9.5 Bn in 2021. Sales in the market are forecast to grow at a healthy 6.2% CAGR, pushing the market size to US$ 18.2 Bn in 2032.
According to a recent analysis by Future Market Insights (FMI), the demand in the global Data Center Substation Market is expected to increase at a healthy 6.2% CAGR over the forecast period, with the market valuation reaching US$ 9.9 Bn in 2022.
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Growing demand for energy to restore the existing infrastructure is projected to fuel growth opportunities in the data center substation market.
Data centers are a vital part of the IT infrastructure. New data-intensive technologies and high-speed wireless networks have led to high demand for data centers among businesses of all sizes, right from major electricity-intensive industries to limited enterprise computing centers.
The rising focus on the replacement of old electrical substation infrastructure with upgraded, high-quality, modular, digital, and gas-insulated systems is also expected to augment the growth in the market.
Increasing volume of structured and unstructured data coupled with the growing demand for cloud computing is anticipated to drive the growth of data center substation market. North America is expected to hold the largest share of the global cloud computing market, thereby creating a lucrative opportunity for data centers. This, in turn, offers avenues for energy transmission and distribution solutions such as data center substations.
However, increasing adoption of data centers and virtualization of enterprises is posing as a threat to the critical data gathered by an enterprise. This is increasing the awareness about the security of this data among enterprises of all sizes.
Thus, owing to the high growth opportunities associated with the market, major vendors are partnering with various channel partners established across the globe. This is enabling solution providers to invest and expand their business in the global data center substation market.
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Scope of the Report
Key Takeaways
- By component, the switchgears segment is expected to account for 23% of the total market share in 2022.
- By voltage, the above 500kV segment is anticipated to expand at a 7.4% CAGR over the forecast period.
- Sales in the Finland data center substation market are expected to account for nearly 13% of the Europe market share through 2031.
- The market in Japan is expected to grow at a CAGR of around 8.3% through 2032.
- In India, sales are expected to increase at a CAGR of 10.2% over the forecast period.
Competition Landscape
Leading players operating in the global data center substation market are investing in research and development to comply with growing demand for digital data solutions. Besides this, players are investing in mergers, acquisitions, and collaborations to expand thwir global footprint.
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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