Published Date: 30-Apr-22
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According to a new report, published by KBV research, The Global Data Center Substation Market size is expected to reach $12.8 billion by 2027, rising at a market growth of 5.5% CAGR during the forecast period.
The Switchgears segment is leading the Global Data Center Substation Market by Component in 2020, thereby, achieving a market value of $4.5 billion by 2027. Switchgear is a vital component of a substation and is primarily used to tolerate variable operating voltage under severely volatile climatic conditions. The industry is expected to rise due to the development of new industrial and commercial facilities, especially data centers for safe and reliable operations.
The 220 kV - 500 kV segment is showcasing a CAGR of 6.2% during (2021 - 2027). This is because of the rise in data center building throughout developing nations. In addition, substations with voltage ratings of 220 kV to 500 kV and above 500 kV are crucial for delivering optimal power transmission and distribution for mission-critical facilities like data centers. However, most data center developments were halted in 2020 due to the onset of the COVID-19 pandemic, resulting in a negative influence on market growth. Although the market is expected to recover gradually in 2021, it will be able to return to pre-pandemic levels of growth in the coming years.
North America is the fastest growing region in the Global Data Center Substation Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $4.4 billion by 2027. The Europe market is estimated to witness a CAGR of 4.7% during (2021 - 2027). Additionally, The Asia Pacific market would experience a CAGR of 7.2% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of S&C Electric Company, NR Electric Co., Ltd., NEI Electric Power Engineering, Inc., Tesco Automation, Inc., General Electric (GE) Co., Schneider Electric SE, Siemens AG, Hitachi, Ltd., Eaton Corporation PLC, and Hyosung Heavy Industries Corporation.
By Voltage Type
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