Data Center Substation Market - Global Industry Analysis, Growth, Key Trends, Regional Assessment, and Forecast 2020 - 2030
Data Center Substation Market: Overview
The data center substation market is prognosticated to observe considerable growth during the forecast period of 2020-2030. The growing popularity of digital substations among numerous industries will bring immense growth prospects. Furthermore, the rising energy demand for the restoration of existing infrastructure will also bring good growth opportunities.
A substation is a structure in the power network where distribution feeders and transmission routes are connected through switches or circuit breakers. The enclosed zones prominently step up or step down the voltage in transmission lines to a specific level apt for the distribution system. The functionality of these data center substations assures promising growth for the global market.
The rising use of connected technologies like the Internet of Things (IoT) in the data center substation sector will bring extensive upgrades for the substations. The penetration of these technologies has led to minimized errors, low incidences of data loss, uninterrupted continuity in operations, and full security. Thus, these aspects will have a large impact on the growth of the data center substation market.
On the basis of component, the data center substation market can be segmented into transformers, relays, switchgears (gas insulated, air insulated, circuit breakers, others), surge arrestors, capacitors, and busbars. Based on voltage type, the data center substation market can be classified into 33 kV-110 kV, 110 kV-220 kV, 220 kV-500 kV, and above 500 kV.
Data Center Substation Market: Competitive Insights
The data center substation market is highly fragmented. Many large and medium-sized companies are present in the data center substation market. The players indulge in fierce competition for establishing a massive customer base. Many medium and small players are generally acquired by large companies to decrease the competition. Thus, strategic collaborations form an important aspect of the data center substation market.
Research and development activities are crucial for the data center substation market. The players indulge in these activities for developing novel techniques and discovering insights. These activities help the players to increase their revenues, eventually propelling the growth of the data center substation market to a considerable extent.
Mergers, acquisitions, joint ventures, and partnerships form an essential part of the data center substation market growth trajectory. The players try to strengthen their foothold in the data center substation market through these activities, ultimately contributing to the growth structure.
Some of the key players into the data center substation market are Tesco Automation, Inc., Hyosung Heavy Industries, Hitachi ABB Powergrids, Inc., General Electric, Eaton, Schneider Electric, S&C Electric Company, and Siemens Energy.
Data Center Substation Market: Recent Developments
The data center substation market is abuzz with developments. Some of the prominent developments are as follows:
These developments help increase the growth prospects of the data center substation market and add value to its growth trajectory.
Data Center Substation Market: Regional Insights
North America’s data center substation market is expected to emerge as a dominant force during the forecast period of 2020-2030. Data center construction activities have increased extensively in the region. This factor will invite promising growth for the data center substation market. Asia Pacific may observe rapid growth during the forecast period. The increasing awareness about data center substation among numerous regions will serve as growth propellers.
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