Hitachi Energy India plans to tap into 30% of the overall spending in the country's data centre industry, from a previous aim of 10-15%, by offering a broad "grid-to-rack" power solution, Managing Director and CEO Venu Nuguri told Reuters.
India's data centre market, valued at $5.55 billion in 2025, is projected to reach $13.11 billion by 2034, driven by digital transformation, cloud adoption and escalating AI workloads, according to consulting firm IMARC Group.
Hitachi Energy India, a unit of Zurich-based Hitachi Energy, makes and supplies power equipment and grid technology for several industries, including data centers. It controls about half of India's high-voltage direct current (HVDC) market, manufacturing equipment that transmits bulk electricity over long distances.
The firm had earlier pegged 10%-15% of total data centre spending in the country as its addressable market through both equipment and software offerings.
Its "grid-to-rack" solution, according to Nuguri, integrates power infrastructure for energy-hungry data centres from the grid-level connection to server rack-level distribution.
The solution would add another 10%-15% of power infrastructure spending, out of the overall data centre segment, to the company's addressable market, Nuguri said.
This week, Hitachi Energy India announced a 20-billion-rupee ($210.53 million) investment in a greenfield, large power transformer facility in the western Indian state of Gujarat, taking its cumulative capex to 40 billion rupees across 19 factories in eight manufacturing locations.
The company closed 2026 with a record order backlog of 296 billion rupees.
The firm is also "actively looking into" acquisitions in data centres, digital layers, and power consulting, among others, to fill capability gaps, Nuguri said.
India's peak power demand hit a record 270.8 gigawatts in May, up 68% from 148 GW in 2014, according to the Ministry of Power. Demand is projected to nearly double to 458 GW by 2032, data showed, a structural tailwind that Nuguri said the company counts among its key growth drivers.
($1 = 95.0000 Indian rupees)
