Data Centre Substation Market Trends 2023, Revenue, Global Industry Share, Size, Demand, Challenges, Future Opportunities and Forecast till 2033: SPER Market Research
A substation’s fundamental purpose is to link the data centre to its various power sources, while distributed power generation techniques like solar panels and fuel cells are also taken into consideration. A substation is moreover a power network structure that links distribution feeders, transmission lines, circuit breakers, switches, and busbars. This makes it possible to regulate the power flow via the network and perform general maintenance switching operations. In these restricted areas, transmission line voltage is typically stepped up or down to a level appropriate for the distribution system. Over the course of the forecast period, the market is expected to increase as a result of the increasing demand for data centre facilities to have uninterrupted and seamless energy distribution and transmission
According to SPER market research, ‘Data Centre Substation Market Size- By Component, By Voltage- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’state that the Data Centre Substation Market is predicted to reach USD 15.85 billion by 2033 with a CAGR of 5.8%.
It is expected that the industry will grow in the coming years due to the increased emphasis on replacing outdated electrical substation infrastructure with superior, cutting-edge digital technologies. This is because the industry is expected to benefit from the growing use of digital substations as the market recovers from the pandemic. Aside from this, factors like the growing need for data processing and storage brought on by cutting-edge technologies like artificial intelligence, machine learning, and the Internet of Things (IoT) are propelling the growth of data centre substations in the market. The industry for data centre substations is expected to have continuing expansion in the future years due to the push toward green and sustainable energy sources, which is also propelling the adoption of renewable energy solutions.
However, one of the main reasons anticipated to limit the market’s growth is the high cost of equipment in data centre substation facilities, especially for small and medium-sized businesses. Further factors impeding the growth of the data centre substation market could be a shortage of skilled labour for system installation, operation, and maintenance. Moreover, the market expansion of the data centre substation sector will be constrained by the growing need for electricity to maintain a steady and dependable power supply, to keep up with emerging technologies, and to meet the growing need for sustainable and energy-efficient solutions.
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The supply chain problems that followed the COVID-19 epidemic, along with the temporary halt of production operations, have significantly impacted the market for data centre substations. Furthermore, during the epidemic, as business activity declined, so did the demand for power. The drop in power usage in 2021 has resulted in virtually little investment in the substation sector. The disease also slowed down the building environment, with data centre construction projects being particularly affected. Several data centre construction projects were temporarily suspended or put on hold in order to ensure that worker safety protocols, including lockdown and social distancing procedures, were followed. This interruption resulted in a small drop-in market activity. But it is expected that market will grow in the coming years as it recovers from the pandemic.
With the presence of significant competitors like Eaton and General Electric and nation’s steady increase in data centre development activity, North America is dominating the market. Moreover, during the forecast period, Asia Pacific is also anticipated to grow at exponential growth rate.
Eaton, General Electric, S&C Electric Company, Schneider Electric, Siemens Energy and others are some of the prominent industry players in the market.
Data Centre Substation Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Component: Based on the Component, Global Data Centre Substation Market is segmented as; Busbars, Capacitors, Relays, Surge Arrestors, Switchgears (Air Insulated & Gas Insulated), Transformers and Others.
By Voltage: Based on the Voltage, Global Data Centre Substation Market is segmented as; 33 kV – 110 kV, 110 kV – 220 kV, 220 kV – 500 kV and Above 500 kV.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
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Data Centre Substation Market Outlook
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