The Europe Data Center Substation Market would witness market growth of 4.7% CAGR during the forecast period (2021-2027).
The market for digital substations is likely to rise in the coming years as their usage grows. Maintenance costs are reduced, asset life is extended, and the environmental imprint is reduced using digital substations. Fiber optic cables are used to connect control panels in these substations, which eliminates the requirement for copper control cables, lowering installation costs as well as decommissioning and recycling costs. Moreover, the growth of the market is likely to be aided by a growing focus on replacing ageing electrical substation infrastructure with updated, high-quality, smart, and digital systems.
A substation is a power network component that connects distribution feeders and transmission channels using switches or circuit breakers. The enclosed zones dramatically ramp up or down transmission line voltage to a preset level suitable for the distribution system. The functionality of these data center substations and increased energy consumption for infrastructure rehabilitation would act as the growth catalysts for the industry during the forecasting period.
The region has seen tremendous growth as a result of increased spending on efficient power infrastructure, which is causing old, out-of-date data centers to be replaced with newer facilities. Data centers in Europe would consume 259 TWh of electricity by 2020, per the European Commission, accounting for 1.7 percent of global energy consumption. The market is predicted to produce 30 times more data in the next 10 years, with an increase in the number of servers, resulting in increasing energy usage.
Data centers have been regarded by many European governments as one of the fastest-growing sectors in terms of energy usage. The cost of electricity in Europe is also rising, affecting three data center business models, per the British Computer Society's Data Center Specialist Group.
The Germany market dominated the Europe Data Center Substation Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $798.8 million by 2027. The UK market is poised to grow at a CAGR of 3.9% during (2021 - 2027). Additionally, The France market would witness a CAGR of 5.5% during (2021 - 2027).
Based on Component, the market is segmented into Switchgears (Gas Insulated and Air Insulated), Transformers, Relays, Capacitors, Busbars, and Surge Arrestors. Based on Voltage Type, the market is segmented into Above 500 kV, 220 kV - 500 kV, 110 kV - 220 kV, and 33 kV - 110 kV. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Data Center Substation Market Size will Hit $12.8 Billion by 2027, at a CAGR of 5.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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 Component
By Voltage Type
By Country
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