New York, US, June 02, 2023 (GLOBE NEWSWIRE) -- According to the research report published by Market Research Future (MRFR), “Data Center Cooling Market by Component, Cooling Type, Organization Size Market Forecast Till 2030", the data center cooling market is likely to garner notable revenue growth during the current decade. Advances in environmental controls would drive the data center cooling market. Market Research Future (MRFR) states that the global data center cooling market value is poised to escalate from USD 14.1 billion in 2022 to USD 28.3631 billion by 2030, growing at a 10.50% CAGR throughout the forecast period (2023-2030).
In the data center industry, reliable cooling systems are crucial to enhance the life of the equipment. Data center cooling solutions and services increase energy efficiency in data centers. The data center industry is expanding rapidly, and efficiency and sustainability have become paramount. Due to the rising data center economy, environmental controls like cooling, humidity, and others are becoming a high priority.
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Data Center Cooling Market Key Players:
Players leading the global data center cooling market include:
- Asetek A/S (Denmark)
- Fujitsu, Ltd. (Japan)
- The Mitsubishi Group (Japan)
- Rittal GmbH & Co. KG (Germany)
- Schneider Electric SE (France)
- Hitachi, Ltd. (Japan)
- 3M (US)
- 4energy (UK)
- Degree Controls (US)
- HP Development Company, LP (US)
- Wakefield-Vette, Inc. (US)
- The Heico Companies LLC (US)
- IT Aire, Inc. (US)
- Vertiv Co. (US)
- Cloudsite Intelligent Data Centers (US)
Industry Trends
The spurring growth in IT & telecom industries pushes the data center cooling market revenues. Besides, the rapid digitization of data centers and advances in data center digitalization and cloud computing foster the growth of the market. Diverse industries need innovative technologies, and the rise in demand for energy- and money-saving data centers are the key factors enhancing market growth.
Scope of the Report - Data Center Cooling Market:
| Report Metrics | Details |
| Market Size by 2030 | USD 28.3631 Billion |
| CAGR during 2023-2030 | 10.50% |
| Base Year | 2022 |
| Forecast | 2023-2030 |
| Key Market Opportunities | Green data center construction is expanding in the regions. Expanding financial commitments in telecom and IT industries. |
| Key Market Dynamics | Diverse industries need innovative technologies. Energy demand and money-saving data centers are rising. |
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Moreover, the increasing demand for adequate cooling to enable steady performances of buildings, industries, and power & data center infrastructures escalates the market value of data center cooling. Substantial investments in the development of energy-efficient coolers boost the market size. With rising numbers of data centers worldwide, the market will likely witness rapid revenue growth during the current decade.
Conversely, high initial investments required for developing data center cooling systems are major factors projected to impede the market growth. Nevertheless, increasing technological upgrades would support market growth throughout the forecast period, presenting cost-competitive manufacturing techniques that can reduce the overall cost of components & systems.
Segments:
The data center cooling market report is segmented into cooling types, techniques, services, organization size, and regions. The cooling type segment is sub-segmented into chillers, economizers, server cooling, and others. The cooling technique segment is sub-segmented into dual feed cooling systems, air-based, liquid-based, free cooling, and others.
The service segment is sub-segmented into professional, managed, and other services. The organization size segment is sub-segmented into SMEs and large enterprises. Further, the region segment is sub-segmented into Europe, the Americas, Asia-Pacific, and rest-of-the-world.
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Regional Analysis:
North America dominates the global data center cooling market, with the increasing demand for data centers and other commercial areas in the US, Canada, and Mexico. Besides, the strong presence of notable players, technology development centers, and data centers in the region drive the growth of the market. Moreover, substantial investments in data center cooling sectors boost the development of the regional market.
The data center cooling market in the Asia-Pacific region is growing steadily. Factors such as the continuous growth across end-user industries and the presence of industry players boost market growth. Additionally, the rising industrialization and urbanization in the region influence the regional market's growth. Furthermore, increasing awareness of energy-efficient products that can reduce the overall energy cost substantiates the regional market's growth.
Emerging APAC countries, such as India, China, and Indonesia, hold considerable shares in the regional market, witnessing high demand from end-users such as power generation, petrochemical, oil & gas, and others. The APAC data center cooling market is poised to perceive a substantial market value during the review period.
Competitive Analysis:
The highly competitive data center cooling market appears fragmented with several well-established players. Players incorporate strategic initiatives such as collaboration, acquisition, partnership, product & technology launch, and expansion to gain a larger competitive share.
Players also focus on new product development initiatives and geographical expansion. They make substantial R&D investments in developing a technology entirely on a different level than their competition. The market is predicted to witness relentless innovations and new products, resulting in intense competition among climate control system manufacturers.
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Multinational companies look to partner with companies involved in building technologies, safety, and productivity solutions, making data centers more efficient and reliable with reduced emissions. Such partnerships promise integrated micro-grid power management systems, making data centers more efficient and reliable while decreasing their emissions.
For instance, on May 24, 2023, CoolIT Systems, a leading liquid cooling solutions provider, announced the expansion of its product portfolio by adding a Direct Liquid Cooling (DLC) enabled Rear Door Heat Exchanger (RDHx). The new direct liquid cooling tech will enhance the data center's efficiency. The company aims to deliver cutting-edge advanced cooling technologies. Recently, in March this year, the company was acquired by KKR to meet the growing demand for energy-efficient data center cooling solutions.
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