Research
EMEA Data Centre Report Q3 2024
EMEA Research
October 10, 2024
Contributors:
- Tom Glover
- Daniel Thorpe
The data centre industry is experiencing an unprecedented expansion, fueled by AI and machine learning advancements. With the EMEA colocation sector poised to triple by 2029 and global data centre spending projected to hit $250 billion annually, the impact extends far beyond tech. While AI promises significant economic boosts, it also presents challenges in power consumption and environmental sustainability. Our report explores how this growth is reshaping global infrastructure and the industry's response to these pressing issues.
Key findings:
- After a somewhat subdued first half of 2024, Q3 saw a record 125MW of take up. 98% of take up has been seen in Frankfurt and London.
- Pre-leasing activity saw a huge uptick in 2024 with 463MW across FLAP-D year to date. We are on track to exceed the 511MW of pre-lets seen in 2023.
- We have seen 125MW of new supply added in Q3 2024, the highest quarter on record. Year to date, we have seen 244MW added to the total market size of FLAP-D.
- JLL estimates that there is 1.5GW currently in development and a further 2.5GW in the planning stages across the core European markets.
- Hyperscale spending continues to grow rapidly with capex forecast to hit $300 billion in 2025. 2024 is on track to see a 40% increase in data centre development spend.
Download the full report for more details
