Sub-layers
Each sub-layer carries a substitutability weight between 0 and 1: how hard it would be to replace the countries that supply it. A high weight sitting on a concentrated share is what makes a chokepoint.
| Sub-layer | Substitutability | Grade |
|---|---|---|
| GenerationElectricity generated nationally that serves data-centre load. | 0.00 | — |
| Turbines & prime moversHeavy-duty and aeroderivative gas turbines. The tightest sub-layer in the tier: three OEMs supply roughly two-thirds of gas plants under construction, and order books run years deep. | 0.95 | B |
| Transformers & switchgearLarge power transformers, HV switchgear and protection. Lead times have stretched from months to years. | 0.80 | C |
| Cables & HVDCHV and HVDC cable systems. European makers hold roughly two-thirds of HVDC specifically; the wider HV cable market is less concentrated. | 0.90 | C |
| Interconnection & queuesConnection policy and queue depth — the constraint that most often decides where load can actually land. | 0.00 | — |
| On-site power & backupReciprocating gensets, UPS, and increasingly on-site generation used to bridge grid connection timelines. | 0.45 | C |
| Nuclear & SMRReactor vendors and small modular reactor programmes. Long-dated relative to the buildout, but heavily contracted against it. | 0.70 | C |
Physical: where the assets sit
Ranked by data-centre electricity (twh/yr) · 77 countries with a non-zero value
Ranked by where the asset physically sits. Ireland enters near the top because data centres reached 23% of its metered electricity — a fifth of a national grid.
| # | Country | Data-centre electricity (TWh/yr) |
|---|---|---|
| 1 | United States | 176 TWh A |
| 2 | China | 104 TWh B |
| 3 | Japan | 19 TWh B |
| 4 | Germany | 9 TWh B |
| 5 | Ireland | 7.7 TWh A |
| 6 | United Kingdom | 7.5 TWh B |
| 7 | India | 6.5 TWh B |
| 8 | Singapore | 6 TWh B |
| 9 | South Korea | 6 TWh B |
| 10 | France | 5.4 TWh B |
| 11 | Australia | 5 TWh B |
| 12 | Canada | 4 TWh B |
| 13 | Netherlands | 3.8 TWh B |
| 14 | Malaysia | 3.5 TWh B |
| 15 | Russia | 3.1 TWh B |
Top 15 of 77. The full ranking is in the interactive atlas.
Ownership: who books the revenue
Ranked by domiciled supplier revenue ($bn) · 17 countries with a non-zero value
Ranked by corporate domicile. Switzerland appears on Hitachi Energy and ABB alone: it owns grid-equipment revenue it does not physically host.
| # | Country | Domiciled supplier revenue ($bn) |
|---|---|---|
| 1 | United States | 96 $bn B |
| 2 | France | 75 $bn B |
| 3 | China | 73 $bn C |
| 4 | Japan | 69 $bn B |
| 5 | Switzerland | 32 $bn B |
| 6 | Denmark | 32 $bn C |
| 7 | Germany | 28 $bn B |
| 8 | United Kingdom | 25 $bn B |
| 9 | South Korea | 21 $bn B |
| 10 | Italy | 20 $bn B |
| 11 | Spain | 16 $bn B |
| 12 | Taiwan | 13 $bn B |
| 13 | India | 9 $bn B |
| 14 | Finland | 7 $bn C |
| 15 | Netherlands | 6 $bn C |
Top 15 of 17. The full ranking is in the interactive atlas.
Control: who could stop you
Ranked by chokepoint score, aggregate (leader = 100) · 12 countries with a non-zero value
Chokepoint leverage — sub-layer share weighted by substitutability. Italy and Denmark appear on cable positions no other basis surfaces.
| # | Country | Chokepoint score, aggregate (leader = 100) |
|---|---|---|
| 1 | China | 100 C |
| 2 | United States | 89.5 C |
| 3 | Japan | 55 C |
| 4 | South Korea | 39.3 C |
| 5 | France | 39.1 C |
| 6 | Germany | 35.5 C |
| 7 | Italy | 31 C |
| 8 | Switzerland | 16.7 C |
| 9 | Denmark | 10.6 C |
| 10 | India | 5.2 C |
| 11 | Finland | 4.7 C |
| 12 | United Kingdom | 4.6 C |
Top 12 of 12. The full ranking is in the interactive atlas.
Largest suppliers
54 suppliers sit in this tier; the 20 largest by revenue are below. Revenue is the group or segment figure closest to this tier's perimeter, which is why the ownership basis is graded no better than B even where every line is filed.
| Company | Domicile | Revenue |
|---|---|---|
| Schneider Electric — Electrical distribution, DC powerVery large share of revenue sits outside the grid perimeter. | FR | $41bn |
| GE Vernova — Gas turbines, grid equipmentLargest single position in heavy-duty gas turbines. | US | $38bn |
| Siemens Energy — Turbines, grid technologyRecord order backlog; gas turbine unit sales roughly doubled 2024→2025. | DE | $28bn |
| National Grid — TSO, networks | GB | $24bn |
| Mitsubishi Heavy Industries — Gas turbines, nuclearThird of the three OEMs that dominate plants under construction. | JP | $22bn |
| Prysmian — HV and submarine cableLargest single cable position; capacity expansion announced through 2027. | IT | $18bn |
| Vestas — Wind turbinesGeneration equipment rather than grid. | DK | $18bn |
| Eaton — Electrical systems, switchgearIrish-incorporated historically; classified here by principal operating domicile. | US | $17bn |
| Hitachi Energy — Transformers, HVDCSwiss-domiciled, Japanese-owned — appears under Switzerland on the ownership basis. | CH | $16bn |
| ABB — Electrification, switchgear | CH | $16bn |
| Shanghai Electric — Turbines, nuclear | CN | $16bn |
| Iberdrola — Generation and networksUtility, included for network build scope. | ES | $15bn |
| TBEA — Transformers, cable | CN | $14bn |
| Delta Electronics — Power electronics, DC powerLarge position in data-centre power conversion. | TW | $13bn |
| Mitsubishi Electric — Transformers, switchgear | JP | $12bn |
| State Grid affiliates — Grid equipmentAggregated equipment arms; boundaries are opaque. | CN | $12bn |
| Ørsted — Offshore generation | DK | $11bn |
| Vertiv — UPS, power distribution, thermalDirect exposure to data-centre electrical fit-out. | US | $10bn |
| Électricité de France — Nuclear new buildNuclear engineering scope only. | FR | $10bn |
| Sumitomo Electric — HV cable, optical | JP | $9bn |