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Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market on Track for Strong Growth, Estimated to Grow at 10.8% CAGR Through 2029
Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution
What Is the Expected CAGR for the Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market Through 2025?
In recent times, the market size for low voltage (lv) or medium voltage (mv) power distribution in data centers has experienced significant growth. The market is projected to expand from $3.53 billion in 2024 to $3.9 billion in 2025, representing a compound annual growth rate (CAGR) of 10.3%. The increased market size in the past is due to factors including the growing need for data storage, the proliferation of cloud computing, the increasing dependence on digital technologies, heightened internet usage, and the implementation of big data analytics.
What's the Projected Size of the Global Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market by 2029?
Over the following years, the data center low voltage (lv) or medium voltage (mv) power distribution market is projected to experience swift expansion, escalating to $5.87 billion in 2029 with a compound annual growth rate (CAGR) of 10.8%. The rise in data transit, the broadening of edge computing, the heightened demand for high-performance computing (HPC), the shift to 5G networks, and the emphasis on energy-efficient data center solutions can all contribute to the growth in this forecast period. The market trends anticipated in this period involve the uptake of modular and scalable power distribution solutions, increased dependence on renewable energy in data centers, focus on energy efficiency and sustainability, the implementation of smart grids in data centers, and the incorporation of digital twins for effective data center management.
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Top Growth Drivers in the Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Industry: What's Accelerating the Market?
The growth of the data center low voltage (LV) or medium voltage (MV) power distribution market is anticipated to be fueled by the increased uptake of cloud computing. The distribution of services like storage, processing power, and software applications through the internet is facilitated by cloud computing. It provides organizations with a platform to store and analyze vast amounts of data in centralized data centers, thereby simplifying processes and reducing the need for on-premise servers that consume a significant amount of electricity. This setup benefits from proactive modifications, enhanced energy utilization, and sustainability, leading to more environmentally friendly and efficient data center power distribution. As per the European Commission, a Belgium-based government administration, there was a 4.2 percentage point increase in enterprises adopting cloud computing services in December 2023 compared to 2021. As a result, the acceleration of cloud computing adoption is invigorating the growth of the data center low voltage (LV) or medium voltage (MV) power distribution market.
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What Trends Will Shape the Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market Through 2029 and Beyond?
The increasing interest in product innovation is a prominent trend in the data center low voltage (LV) or medium voltage (MV) power distribution market. To enhance their market stance, the leading companies in this sector are focusing on the creation of innovative and unique products. For example, in October 2022, Vertiv, an American firm specializing in data center equipment and services, unveiled the Vertiv Powerbar iMPB as an expansion of their power distribution portfolio. This modular busbar solution is designed to handle swift, on-demand power upgrades for versatile data center environments. The Vertiv Powerbar iMPB series, available with either copper or aluminum conductors, has a capability spectrum ranging from 160 to 1,000 amps. It ensures reliable overhead power distribution, improving cooling airflow efficiency simultaneously. This system is versatile and can be used in various settings such as data centers regardless of size or type, labs, distribution warehouses, adaptive manufacturing facilities, and other fluctuating situations.
What Are the Main Segments in the Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market?
The data center low voltage (lv) or medium voltage (mv) power distributionmarket covered in this report is segmented -
1) By Component: Hardware, Services
2) By Data Centre Sizes: Small And Medium-Sized Data Centers, Large Data Centers
3) By Application: Banking Financial Services And Insurance (BFSI), Colocation, Energy, Government, Healthcare, Manufacturing, IT (Information Technology) And Telecom, Other Applications
Subsegments:
1) By Hardware: Switchgear, Transformers, Circuit Breakers, Power Distribution Units (PDUs), Busways, Cables And Wires
2) By Services: Installation Services, Maintenance Services, Consulting Services, Design Services, Managed Services
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Which Top Companies are Driving Growth in the Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market?
Major 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, Chatsworth Products, Thorne & Derrick International, Anord Mardix (USA) Inc., Server Technology Inc., Rittal GmbH & Co. KG., Delta Electronics Mfg. Corp., Emerson Electric Co., Staco Energy Products Co., PDI Solutions LLC, Raman Power Technologies Ltd.
Which Regions Will Dominate the Data Center Low Voltage (LV) Or Medium Voltage (MV) Power Distribution Market Through 2029?
North America was the largest region in the data center low voltage (LV) or medium voltage (MV) power distribution market in 2024. The regions covered in the data center low voltage (LV) or medium voltage (MV) power distribution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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