Data Center Cooling Market Trends, Active Key Players, and Growth Projection Up to 2027
WILMINGTON, DE, UNITED STATES, June 26, 2024 /EINPresswire.com/ — The global data center cooling market size was valued at $10,541.82 million in 2019, and is projected to reach $27,308.73 million by 2027, growing at a CAGR of 12.8% from 2020 to 2027.
The hyperscale data center segment is expected to grow at the highest CAGR during the forecast period, owing the advent of cloud computing that in turn is expected to increase the need for cooling solutions.
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Increase in the demand for efficient and cost-effective data centers, green initiatives for eco-friendly data center solutions, substantial growth with data center and power density drive the market growth. However, requirement of specialized infrastructure and higher investment cost and cooling challenges during power outage is expected to hamper the growth of the global data center cooling market during the forecast period. Furthermore, emergence of liquid-based cooling and portable cooling technologies and growth in requirement for modular data center cooling approach are anticipated to provide lucrative opportunities for the market growth.
Demand for data center cooling is on the rise across various industries as it enables maintaining environmental conditions suitable for information technology equipment (ITE) operations. Awareness around edge computing has increase across various industries and the COVID-19 pandemic is acting as a major driver to get industrial companies more interested in benefits related to edge computing in supporting remote operations, real-time control, and enhanced data-crunching capabilities. Large enterprises are affirming their readiness to invest in edge strategies, establishing a market beyond telecom companies and content players. Further, some companies are inclined toward revamping their existing data center cooling systems to make it less water-dependent.
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Key Findings of the Study
By type of cooling, the rack-based cooling segment is expected to exhibit highest growth rate during the data center cooling market forecast period.
By component, the solution segment accounted for the highest revenue in 2019.
By industry vertical, the IT & telecom segment generated the highest revenue in 2019.
By type of data center, the enterprise data center segment dominated the overall data center cooling market.
Region wise, Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.
The global data center cooling market analysis includes some of the key market players such as 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 Co; and Asetek. This study includes market trends, market analysis, and future estimations to determine the imminent investment pockets.
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