Data Center Cooling Market Expected to Generate $27,308.7 Million, Growing At a CAGR of 12.8% By 2027
The requirement of specialized infrastructure and higher investment costs and cooling challenges during power outages are expected to hamper the market growth.
PORTLAND, PORTLAND, OR, UNITED STATES, May 19, 2023 /EINPresswire.com/ — According to the report, the global data center cooling market was pegged at $10.54 billion in 2019 and is projected to reach $27.30 billion by 2027, registering a CAGR of 12.8% during the forecast period.
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Growing demand for efficient and cost-effective data centers, green initiatives for eco-friendly data center solutions, and significant growth in data center and power density drive the growth of the global data center cooling market.
However, need of specialized infrastructure and high investment cost and cooling challenges during power outage restrain the market. Moreover, advent of liquid-based cooling and portable cooling technology and growing need for modular data center cooling approach are anticipated to present lucrative opportunities for the market players in the near future.
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Based on type of cooling, the room-based cooling segment held the largest share in 2019, contributing nearly half of the global data center cooling market, owing to less capital cost as requirement of number of piping and cooling units are less.
However, the rack-based cooling segment is projected to register the fastest CAGR of 15.4% through 2027, owing to extreme density capability of rack-based cooling. In addition, rack-based cooling reduces the airflow path length of CRAH fan resulting in increased operational efficiency along with energy efficiency.
Based on component, the solution segment dominated the market in 2019, accounting for more than two-fifths of the global data center cooling market. The increase in adoption of data center cooling as it offers, energy-efficient, environment-friendly, and cost-effective cooling solutions drive the segment growth. In addition, stringent environmental safety rules imposed by various governments further augment the growth of this segment.
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However, the services segment is projected to showcase the fastest CAGR of 14.6% during the forecast period. Data centers are required to be maintained by trained professionals to keep efficiency intact. Moreover, the rapid growth in data centers, service providers for services such as installation & deployment, support & maintenance, and consulting for data center cooling further drive the growth of the segment.
The market across North America held the largest share in 2019, with nearly half of the global data center cooling market, and would lead the trail by 2027. North America is the world’s biggest hub for software companies and offers data storage facilities worldwide. Therefore, with growth in number of data centers, the requirement for cooling systems is also expected to increase to maintain HVAC level of data centers and support data center operations.
However, the market across the Asia-Pacific region is projected to register the fastest CAGR of 16.9% during the forecast period. China & India has a tremendous potential for growth in the data center cooling market, due to rapid industrialization. Furthermore, the increase in a number of data centers boosts the data center cooling market in this region.
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The key players operating in the global data center cooling market analysis are Schneider Electric Se; Black Box Corporation; Nortek Air Solutions, LLC; Airedale International Air Conditioning Ltd; Hitachi, Ltd.; Rittal Gmbh & Co. Kg; Fujitsu Ltd.; Stulz Gmbh; Vertiv; and Asetek.
Covid-19 Scenarios-
• The data center cooling market has undergone significant revenue growth, as the requirements from sectors such as financial institutions, telecom operators, and other services have increased.
• As a result of the lockdown, furthermore, the demand to create and manage unstaffed data centers has increased.
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