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Thriving Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market: Forecast for $6.15 Billion Growth by 2029, CAGR of 12.2%, Key Players, and Dominating Trends
Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market Share
What Is The Projected Market Size Of The Global Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market And Its Growth Rate?
The global market for data center low voltage (LV) or medium voltage (MV) power distribution has been growing robustly:
- In 2024, the market size stood at $3.51 billion.
- By 2025, the market is expected to grow at a CAGR of 10.7% to reach $3.89 billion.
- This market is set to balloon to $6.15 billion in 2029 at a CAGR of 12.2%.
The market growth is fuelled by a range of factors such as growing demand for data storage, cloud computing expansion, increasing reliance on digital technologies, rising internet usage, and adoption of big data analytics.
What Is Driving The Growth In The Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market?
The rapid adoption of cloud computing has been a major growth driver for the data center low voltage (LV) or medium voltage (MV) power distribution market. Cloud computing allows organizations to store and analyze massive quantities of data in centralizes data centers, reducing the need for on-site servers that consume high electricity. As this technology develops, it facilitates the improvement of energy use and sustainability, resulting in more efficient and greener data center power distribution systems. For instance, it was reported by the European Commission that there was a 4.2% increase in enterprise adoption of cloud computing services in 2023 in comparison to 2021. Such trends are expected to drive this market's growth further in the future.
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Who Are The Key Players Driving Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market Growth?
Significant companies operating in the data center low voltage (LV) or medium voltage (MV) power distribution market include:
- Siemens AG
- Schneider Electric SE
- Mitsubishi Electric Corp.
- ABB Ltd.
- Cummins Inc.
- Eaton Corp.
- Legrand
- Vertiv Holdings Co.
- Generac Power Systems
- Leviton Manufacturing Company Inc.
- Panduit Corp.
- Socomec SAS
- CyberPower Systems Inc.
- Kohler Power Systems
What Are The Key Trends In The Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market?
Emerging trends in the market include:
- Adoption of modular and scalable power distribution solutions.
- Increasing use of renewable energy sources in data centers.
- Emphasis on energy efficiency and sustainability.
- Deployment of smart grids in data centers.
- Integration of digital twins for data center management.
What Are The Segments Of The Global Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market?
The market is segmented by:
- Component: Hardware, Services.
- Data Centre Sizes: Small And Medium-Sized Data Centers, Large Data Centers.
- Application: Banking Financial Services And Insurance (BFSI), Colocation, Energy, Government, Healthcare, Manufacturing, IT (Information Technology) And Telecom, Other Applications.
Which Region Leads The Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market?
North America was the largest region in the data center low voltage (LV) or medium voltage (MV) power distribution market in 2024. Other regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market Global Market Report?
- Market Size Analysis: Analyze the Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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