Data Centre beneficiaries: Building block providers of data centres in India

Research evidence excerpt

Data Centre beneficiaries: Building block providers of data centres in India

ndary

switchgear and ABB Ability digital monitoring solutions. Recent customer wins include major orders for LV panels and auxiliary

power equipment for global data centre operators in Mumbai and Pune.

Siemens India Ltd

Siemens India focuses on the "electrical backbone" of data centres through its Smart Infrastructure (SI) segment. The company

holds a market share of roughly c30% in its addressable data centre area, with the segment accounting for c12-15% of its total

order book. Its future plans involve expanding local manufacturing for Medium Voltage (MV) switchgear and vacuum interrupters,

with production set for October 2026. Strategic priorities include specialised AI factory reference architectures developed in

partnership with NVIDIA. Key products include SENTRON 3QD2 semiconductor circuit breakers, 8US Fast Bus distribution

systems and the Siemens Xcelerator digital platform. Recent major wins include an internal work allocation of INR18.3bn for

traction motors and gearboxes, alongside ongoing electrification orders for major urban metro and data centre projects.

Cummins

Cummins India maintains a dominant leadership position in the data centre backup power market, where gensets typically

represent c2-3% of the total data centre capex. Its strategy focuses on leveraging a globally integrated supply chain to meet the

high reliability requirements of hyperscalers and colocation providers. The data centre segment contributes an estimated 30-35% to

its Powergen revenue, with an addressable capex opportunity of INR12.5bn (approximately 10% of overall revenue). Core products

include the Centum series and heavy-duty engines such as the QSK60, QSK78 and QSK95. The company recently noted a sharp