Summary of Data Center Power Supply Trends Industry Overview - The data center power supply is transitioning from traditional AC UPS systems to high voltage direct current (HVDC) and solid-state transformer (SST) solutions, aimed at improving efficiency and accommodating renewable energy integration. Currently, AC power supply remains mainstream, but HVDC is a clear trend [1][2][4]. Key Points and Arguments - **Efficiency Improvements**: HVDC architecture reduces AC-DC conversion stages, lowering energy loss and enhancing overall conversion efficiency. It also saves cabinet space, making it more suitable for integrating renewable energy sources like photovoltaics [1][6]. - **Adoption by Major Companies**: Overseas data centers are rapidly adopting HVDC solutions, while domestic companies like Alibaba and Tencent are using 240V/336V DC systems. Domestic firms are actively developing HVDC and SST technologies to meet market demand [1][2][7]. - **Market Growth Projections**: The data center power supply market is expected to grow rapidly, particularly in high-computing scenarios where HVDC demand is clear. The penetration rate of HVDC solutions is anticipated to continue increasing, significantly expanding market space [1][8]. - **Technological Advancements**: The future of data center power supply is focused on HVDC and SST applications. Companies like Google and Microsoft are already proposing SST-based future solutions, indicating a shift towards HVDC [4][11]. - **Component Demand Increase**: The development of data center power systems will drive demand for components such as circuit breakers, relays, and fuses. Domestic companies are likely to benefit from the HVDC trend, enhancing product pricing and market space [2][11][12]. Additional Important Insights - **Domestic vs. Overseas Market Dynamics**: While overseas data centers are rapidly upgrading their power supply systems, domestic companies are catching up. The domestic market primarily uses low-voltage DC systems, but there is a growing trend towards HVDC and SST technologies [7][10]. - **Competitive Landscape**: The UPS supply chain, previously dominated by foreign and Taiwanese companies, is undergoing transformation. Domestic companies are closing the technological gap and leveraging their innovation and responsiveness to enter overseas supply chains [10][13]. - **Focus Areas for Future Development**: In addition to the overall power supply system, attention should be given to key components like circuit breakers and the "source-network-load-storage" segment, which are crucial for future development [14]. This summary encapsulates the key trends and insights regarding the evolution of data center power supply systems, highlighting the shift towards HVDC and SST technologies and the implications for market dynamics and competitive positioning.