A global data-center construction surge is benefiting lesser-known power and cooling equipment suppliers as developers race to overcome infrastructure bottlenecks. McKinsey forecasts nearly $7 trillion in worldwide data-center investment by 2030, while Nvidia expects AI spending to remain robust for years. Hyperscalers (large cloud-computing operators) often seek facilities within six months, but grid connections can take up to 24 months in some emerging markets and more than eight years in major developed markets, according to Pivotale AI. Transformers convert grid electricity into levels suitable for servers, cooling systems and power-distribution units. South Korea’s HD Hyundai Electric and China’s Hainan Jinpan Smart Technology reported strong first-half 2026 demand linked to AI infrastructure, particularly in North America. HD Hyundai Electric’s order backlog rose 23% to $8.5 billion by the end of June, and it expects data centers to represent 16% of its power business’s new orders next year, compared with 6.3% this year. Jinpan’s new data-center orders more than quadrupled year over year, while its related backlog nearly tripled. Rising electricity use by AI chips is also driving interest in solid-state transformers (semiconductor-based power-conversion devices) and liquid cooling. Bank of America estimates AI-rack power consumption could exceed 1.5 megawatts by the end of 2030, nearly 100 times that of a conventional rack. UBS forecasts solid-state transformer penetration will reach 40% in 2030, while Bank of America expects liquid cooling to account for 70% of new AI data-center installations. Delta Electronics, Asia Vital Components, Auras Technology and Shenzhen Envicool Technology are among other suppliers benefiting from demand. However, valuations, competition, deployment delays and component shortages have moderated share-price gains and increased scrutiny of which companies will emerge as industry leaders.