美国数据中心基础设施市场的演进要点-戴尔奥罗集团专家会议-US Industrials and Electrical Equipment Evolving Data Center Infrastructure Market Takeaways from DellOro Group Expert Call

Summary of Key Points from the Data Center Infrastructure Market Call Industry Overview - The focus is on the Data Center Infrastructure market, with insights from the Dell'Oro Group [1][2][7]. Core Insights - Demand Outlook: There is a robust demand for data center infrastructure expected to continue over the next several years, which will drive sustainable revenue and earnings growth for electrical infrastructure and equipment providers [1][4]. - CAGR Forecast: Dell'Oro's mid-teens CAGR forecast for the 2025-2029 period may be raised, indicating potential upside for companies exposed to data centers [2][7]. - Investment Risk: Dell'Oro sees "close to negligible" risk for investments in the data center infrastructure over the next 3-4 years, suggesting a stable investment environment [2][7]. Competitive Landscape - Established Players: Companies like VRT, ETN, and NVT are expected to maintain a strong competitive position due to their in-house expertise and robust service capabilities, despite increased competition [3][9][10]. - M&A Activity: There is potential for small to mid-sized mergers and acquisitions to further strengthen the market positions of established players [3][10]. Technology Trends - Cooling Technologies: Despite concerns regarding liquid cooling technologies impacting traditional air cooling, Dell'Oro anticipates continued growth in traditional cooling methods, benefiting HVAC companies [3][11]. - UPS Market Shift: A transition to 800VDC architecture is expected by 2028-2029, which will integrate medium-voltage power transformation solutions, requiring advanced technology development from key players like ABB, ETN, and VRT [9][12]. Market Constraints - Power and Labor: Power availability and skilled labor shortages are significant constraints in the data center infrastructure market, which may benefit companies like PWR and VRT due to their market positions [4][13][14]. - Geographic Trends: The European data center market is expected to accelerate starting in Q2 2026, with robust activity in sovereign markets, particularly in the Middle East [4][16]. Future Deployment Expectations - Enterprise Deployments: Smaller-scale enterprise deployments are anticipated to begin in late 2026/early 2027, driven by better pricing and proof-of-concept work [16]. Companies Mentioned - Key companies discussed include ABB, Alphabet Inc, American Electric Power, Carrier Global Corporation, Digital Realty, Eaton Corp, Equinix, Johnson Controls, NVIDIA, Quanta Services, Schneider Electric, Trane Technologies, and Vertiv Holdings [17]. This summary encapsulates the critical insights and trends discussed in the call regarding the data center infrastructure market, highlighting both opportunities and challenges for industry players.