2025 年全球数据中心展望 (英文 23 页)

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执行摘要

2025 年，数据中心行业将继续以惊人的速度增长。根据目前正在建设和计划中的开发项目，到 2027 年，全球数据中心市场可能会以 15% 的复合年增长率扩张。这是我们的基准预测，到 2027 年，复合年增长率有望达到 20%。

该行业在快速扩张的同时面临着众多机遇和挑战。新技术的出现为可持续增长和价值创造提供了机会。该行业还面临着重大挑战，包括电力限制和需求增长超过供应。本报告研究了全球数据中心行业面临的重大问题，并对未来一年做出了预测。

01 人工智能 (AI)

AI 的应用正在扩展到几乎所有行业。过去几年，人工智能领域已投入了数十亿美元，所有迹象都表明，人工智能数据中心的需求将在 2025 年继续保持增长势头。

02 电网

小型模块化反应堆 (SMR) 的前景一片光明，尽管预计在 2030 年之前不会大规模部署。预计 2025 年 SMR 协议将加速，承诺的总千兆瓦数量可能会翻一番。

03 液冷

液体冷却基础设施已迅速成为新建筑的默认安装。对于过渡到高密度工作负载的现有设施，液体冷却将是一个可行的解决方案和增加资产价值的机会。

04 资本市场

2025 年，大约 1700 亿美元的数据中心资产价值将需要获得建设贷款或永久融资。由于买卖价差持续扩大，投资销售额在 2025 年可能仅会小幅增长。

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2025 Global Data Center Outlook

Executive summary

The data center sector will continue to grow at a phenomenal pace in 2025. Based on developments currently under construction and planned, the global data center market is likely to expand at a 15% CAGR through 2027. This is our baseline forecast, with upside potential for a 20% CAGR through 2027. 

The industry faces numerous opportunities and challenges amidst rapid expansion. The emergence of new technology provides opportunity for sustainable growth and value creation. The sector also faces significant challenges, including power constraints and increasing demand which is outstripping supply. This report examines the consequential issues facing the global data center sector and provides predictions for the year ahead.

01    Artificial intelligence (AI)

The applications of AI are expanding across nearly all industries. Billions of dollars have been invested in AI over the last couple of years and all signals suggest that AI data center demand will continue to build momentum in 2025.

02    Power grids

Excitement is building for small modular reactors (SMRs), although widespread deployment is not expected before 2030. Look for an acceleration of SMR agreements in 2025, with the total amount of gigawatts committed likely to double.

03    Liquid cooling

Liquid cooling infrastructure has quickly become a default installation in new construction. For existing facilities transitioning to higher-density workloads, liquid cooling will be a viable solution and an opportunity to increase asset value. 

04    Capital markets

Roughly $170 billion in data center asset value will need to secure construction lending or permanent financing in 2025. Investment sales volume is likely to record only a modest increase in 2025 due to continued bid-ask spreads.