New York, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Critical Power and Cooling Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Critical Power and Cooling Market Research Report, Type, End Use and Region - Forecast till 2030”, the market is expected to grow at 11.83% CAGR during the forecast period (2022-2030).
List of the companies profiled in the global critical power and cooling market report include:
- Schneider
- ABB
- General Electric
- Eaton Corporation
- Delta Electronic Inc.
- Critical Power
- Xiamen Kehua Hengsheng Co.Ltd.
- Socomec
- Falcon Electric Inc.
- Daikin IndustriesLtd.
- Stulz GmbH
- Asetek A/S
- Siemens
- Johnson Controls Inc.
- SPX Corporation
- Nortek Air Solutions LLC.
- Among others.
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The global critical power & cooling market is both fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers including collaborations, contracts, partnerships, joint ventures, geographic expansions, new product launches and more. Besides, they are also investing in various research and development activities.
Market Research Future’s Review on Critical Power and Cooling Market
COVID-19 Analysis on Critical Power and Cooling Market
Supply chain disruptions, economic situations, fluctuations in demand share, as well as long-term & immediate effect of the COVID-19 pandemic possessed a negative effect on the critical power and cooling market growth. The pandemic has slowed down economic activity and pushed the economy into a steep recession. With the roots being in China, the supply chains in the world are facing shutdown and unprecedented disruption.
Browse In-depth Market Research Report (188 pages) on Critical Power and Cooling
https://www.marketresearchfuture.com/reports/critical-power-cooling-market-2473
Market Drivers
Increase in Data Centers to Boost Market Growth
The increasing number of data centers for cloud computing and digitalization will boost market growth over the period.
Market Opportunities
Growing Need for Power in Different End-Use Segments to offer Robust Opportunities
The growing need for power in different end-use segments like financial services and institutions, banking, hospitals, facilities, and power plants will offer robust opportunities for the market over the forecast period.
Besides, the increasing power shortage globally, the rapidly increasing urbanization and industrialization, as well as the growing need for backup power for protecting equipment from the adverse impacts of grid power fluctuations are also adding market growth.
Market Restraints
High Investment Costs to act as Market Restraints
The high investment costs coupled with health hazards & environmental hazards may act as market restraints over the forecast period. Diesel is utilized as a fuel in generators which emits greenhouse gases which may cause severe health issues.
Market Challenges
High Water and Energy Consumption Levels may act as Market Challenge
The high water and energy consumption levels may act as market challenge over the forecast period.
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Critical Power and Cooling Market Segmentation
The global critical power & cooling market is bifurcated based on end use and type.
By type, the UPS segment will lead the market over the forecast period for the increasing urbanization and industrialization. Emerging countries like Indonesia, China, and India are likely to witness huge demand from end users like oil and gas, power generation, and others.
By end use, the commercial segment will dominate the market over the forecast period for the increasing number of hotels, banks, data centers, and other commercial properties.
Regional Analysis
North America to Spearhead Critical Power and Cooling Market
North America will spearhead the critical power and cooling market over the forecast period. Rising need for data processing power and data centers, increasing need for information storage in Canada and the US, the presence of top tech giants like Microsoft, Apple, Amazon, and Google that have huge power outage and data centers, and large number of IT companies operating in Silicon Valley that are regarded as global centers for social medial, innovation, and technology are adding to the global critical power & cooling market growth in the region.
Asia Pacific to Have Admirable Growth in Critical Power and Cooling Market
The APAC region will have admirable growth in the critical power and cooling market. Increasing need for data storage and power generation, the need for power at different power plants, hospitals, and facilities, among other institutions, the enormous industrialization, commercialization, and urbanization, extensive population, highest consumer of energy, the ongoing development in manufacturing, food and beverage, aviation, automobile, IT, and telecommunication that needs huge amount of power for constant operation, and industries generating demand for uninterrupted supply and cooling for their manufacturing or production are adding to the global critical power and cooling market growth in the region. Besides, the implementation of strict government policies, the increasing adoption of cloud-based technologies & mobility solutions, increasing growth of different end use centers like data centers, retail and healthcare, and IT and telecommunication, the rising need for data storage and power generation, high industrial growth rate, the increasing need for power in different end use segments like financial services and institutions, banking, hospitals, facilities, and power plants, and growing awareness for the need for cooling and power solutions for ensuring protection against data loss and downtime and hardware damage are also adding market growth.
Segmentation of Market covered in the research:
Critical Power and Cooling Market Research Report: Information by Type (Uninterrupted power supply, generators, air conditioning, chilling units), End-Use (Industrial, Commercial, IT & Telecommunication, Transportation), and Region - Global Forecast till 2030
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
