Europe Sustainable Data Center Market Outlook & Forecast 2024-2029: Western Europe And The Nordic Region Will Remain Hotspots For Development, With More Companies Flocking To Europe
Europe Sustainable Data Center Market Outlook & Forecast 2024-2029: Western Europe And The Nordic Region Will Remain Hotspots For Development, With More Companies Flocking To Europe . (MENAFN - GlobeNewsWire - Nasdaq) Colocation vendors such as Equinix, Digital Realty, Vantage Data Centers, CyrusOne, STACK Infrastructure, Colt Data Centre Services, and hyperscale vendors such as ...
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Dublin, Nov. 22, 2024 (GLOBE NEWSWIRE) -- The "Europe Sustainable Data Center - Outlook & Forecast 2024-2029" report has been added to ResearchAndMarkets.com's offering.

The Europe Sustainable Data Center Market was valued at USD 8.88 billion in 2023, and is expected to reach USD 16.89 billion by 2029, rising at a CAGR of 11.31%

The Europe sustainable data center market is rapidly evolving as organizations prioritize energy efficiency and sustainability. Google is among the top operators in the data center market, known for its commitment to sustainability and energy efficiency. The company aims to run all its data centers on carbon-free energy by 2030, and it uses AI to optimize cooling systems, reducing energy use by up to 30%.

Site selection for data centers across Europe will mostly depend on access to renewable energy. The Nordic region is suitable for green data center development as there is no need for water-based cooling, and Nordic countries source maximum power supply from renewable energy and support Europe's sustainable data center market growth. Spain, Portugal, Greece, and others are on the back of investments in renewable energy, with easy availability of space in markets in comparison to Germany, the UK, and other crowded markets.

Western Europe and the Nordic region will remain hotspots for data center development, with more companies flocking to the Europe sustainable data center market. Most data centers in Central and Eastern European countries invest in renewable energy, especially Poland, Czechia, Romania, and Austria, to reduce PUE from 1.5 to around 1.3 or lower. These countries offer attractive opportunities for data center investors during the forecast period.

Renewable energy companies such as Orsted, Engie, GreenYellow, Enel Group, and many more are supplying renewable energy to data center operators. These companies are setting up new plants exclusively for data center companies, thus providing clean power sources for data center companies. For instance, Google has entered into a Power Purchase Agreement (PPA) with Engie to acquire 118 MW of power from wind energy in Belgium.

KEY TRENDS

Increased Focus on Renewable Energy Sources



The major hyperscale operators, such as AWS, Google, Microsoft, and Apple, are procuring renewable energy for their data centers. For instance, AWS meets 85% of its energy requirements from renewable energy. Google and Apple meet 100% of their energy requirements for data centers from renewable energy. Microsoft aims to power all data centers with 100% renewable energy by 2025. Colocation operators such as Equinix, Iron Mountain, CyrusOne, Digital Realty, maincubes SECURE DATACENTERS, and others are proactively signing Power Purchase Agreements (PPAs) and procuring renewable energy to power their data center facilities to meet their sustainability goals. Digital Realty meets 100% of the energy requirements for European data centers from renewable energy.

Emerging Trends to Power Data Centers



Hydrotreated Vegetable Oil (HVO) fuel is increasingly being used in the Europe sustainable data center market as part of the push toward sustainability and reduced carbon footprint. For instance, in December 2023, Kao Data's second data center in Harlow, UK, is operational. The KLON-02 data center is designed and built with a strong focus on sustainability and efficiency. The facility will run entirely on certified renewable energy and use hydrotreated vegetable oil for its backup generators.

Fuel cells are emerging as a promising solution for powering data centers due to their numerous advantages. Fuel cells can revolutionize the data center market by providing clean, efficient, and reliable power. For instance, in August 2024, Equinix is looking into using hydrogen fuel cells at its data center in Dublin, Ireland. Data center operators in regions with an uncertain power supply due to factors such as natural disasters and power fluctuations can adopt microgrids and smart grids.

Government Push Toward Sustainability



The European government made significant strides in achieving its goals outlined in the sustainability plan. The European Union has set strict rules to cut carbon emissions. The EU's Green Deal aims for carbon neutrality by 2050. Data centers must follow energy efficiency standards and use more renewable energy. The Energy Efficiency Directive (EED) requires large businesses, including data centers, to regularly check their energy use and improve their energy management. The UK government has committed to Net Zero Emissions by 2050, thus compelling all data center operators to become carbon neutral. The Danish government plans to establish two energy islands by 2030, expanding Denmark's renewable energy capacity by over 4 GW.

Key Attributes:
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https://menafn.com/1108914055/Europe-Sustainable-Data-Center-Market-Outlook-Forecast-2024-2029-Western-Europe-And-The-Nordic-Region-Will-Remain-Hotspots-For-Development-With-More-Companies-Flocking-To-Europe
2024-11-22
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(MENAFN - GlobeNewsWire - Nasdaq) Colocation vendors such as Equinix, Digital Realty, Vantage Data Centers, CyrusOne, STACK Infrastructure, Colt Data Centre Services, and hyperscale vendors such as ...
Europe Sustainable Data Center Market Outlook & Forecast 2024-2029: Western Europe And The Nordic Region Will Remain Hotspots For Development, With More Companies Flocking To Europe