The substation links the data center's electricity supply, which is often provided by a public utility system, however other distributed power generating options, like solar panels or fuel cells, are also taken into account. A substation is a part of the power network where distribution feeders and transmission lines are connected by busbars to circuit breakers or switches. This makes it possible to regulate the network's power flow and general switching operations for upkeep. The primary function of these enclosed zones is to raise or lower transmission line voltage to a specific 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 center facilities to have uninterrupted and seamless energy distribution and transmission.
Global Data Centre Substation Market Driving Factors and Challenges
The demand for cloud computing, the digitization of industries, rising internet traffic, and the exponential development in both structured and unstructured data volumes are some of the key drivers anticipated to propel the data centre substation market size. Moreover, during the course of the forecast period, the market will develop even faster due to the data centres' continued expansion and the rising demand for reliable electricity distribution and transmission. Additionally, data centre substations aid in energy transmission, equipment protection from malfunctions, operation control, and security enhancement, all of which are expected to support the market's expansion and growth during the projection period.
Data centres need to overcome several obstacles in order to transition to an on-site power supply and to grow at its full potential during the projected time period. For most firms, the biggest challenge is usually the upfront cost of on-site electricity. The immediate financial and resource costs associated with relocating power on-site deter many enterprises from adopting data centre substations. Moreover, annual variations in fuel prices complicate long-term planning and contribute to doubt among the company's leadership regarding the use of these technologies. There are a number of factors to take into account when building a data centre. Power systems, enclosed generators, conduit and cabling for generators, data centre lighting, lighting protection, HVAC, fire suppression, and other are among the engineering, permits, and permissions that are considered.
Impact of COVID-19 on Global Data Centre Substation Market
The COVID-19 pandemic had a significant effect on enterprises worldwide in 2020 and presented many challenges, but the data centre substation market grew anyway. During the pandemic, there was an exponential expansion in the amount of data generated and consumed by both individuals and businesses. This increased need for data storage resulted in a rise in the number of trustworthy and effective data centres. Data centres are evolving into computational hubs for a range of global organizations and end users as a result of the rise of work-from-home opportunities. The need for new data centres and the restoration of existing ones has increased due to the enormous increase in data output and the necessity to improve data centre performance. Consequently, a spike in the quantity of data centre renovation and construction projects is anticipated to create growth prospects for the data centre substation market over the coming few years.
Data Centre Substation Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Eaton, General Electric, Hitachi ABB PowerGrid Inc, Hyosung Heavy Industries, NEI Electric Power Engineering, Inc., NR Electric Co., Ltd., S&C Electric Company, Schneider Electric, Siemens Energy, Tesco Automation Inc.
Global Data Centre Substation Market Segmentation:
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.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.