Wilmington, Delaware, United States, Oct. 17, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global data center cooling market is prognosticated to reach a value of US$ 45.49 Bn by the end of 2031, according to a research report by Transparency Market Research (TMR). Furthermore, the study highlights that the market for data center cooling is expected to grow at a CAGR of 14.8% during the forecast period, from 2022 to 2031.
Latest computing equipment and servers produce more heat, as they require more power in order to compute and process massive amount of data, according to analysts of a TMR study on the data center cooling market. Thus, there has been a surge in the total amount of power consumed by data centers from 205 TWh in 2018 to 300-440 TWh in 2020. Such factors are likely to result into a surge in the demand for data centers that are energy efficient, state analysts of a TMR assessment that delivers important insights on the data center cooling best practices.
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Data Center Cooling Market: Key Findings
- Data centers require more power in order to run servers as well as other IT equipment. Hence, they are considered major energy consumers. This aside, data centers offer sizable amount of computing and data storage abilities that use IT resources including networking, storage, and processors, which produce heat. As a result, the need for best data center cooling systems is being rising among data center operators across the globe. This factor, in turn, is fueling the sales growth in the global data center cooling market.
- The failure and overheating of an IT infrastructure may result into financial losses and downtime. Hence, the demand for server rack cooling with an ability to prevent IT infrastructure from failure and overheating is being rising globally, note analysts of a TMR study on the data center cooling market that delivers key insights on the top most innovative data centre cooling companies.
- In the recent years, there has been a surge in the demand for digital services owing to rise in use of next-gen technologies including AI, 5G, automation, IoT, and edge computing. In addition, the government authorities of several emerging economies across the globe are investing heavily in the digital infrastructure development activities. Such factors are driving the growth opportunities in the global data center cooling market, states a TMR study that sheds light on several crucial aspects including the top data center cooling systems 2022.
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Data Center Cooling Market: Growth Boosters
- Increase in the adoption of energy-efficient data centers globally is creating high demand for varied types of data center cooling systems, states a TMR report on the data center cooling market
- Surge in the efforts to develop sustainable cooling technologies is leading to lucrative opportunities for data center cooling solutions providers across the globe
Data Center Cooling Market: Regional Analysis
- The North America data center cooling market is projected to maintain its leading position during the forecast period owing to the existence of numerous data centers and key data center cooling solution providers in the region
- Players are anticipated to gain profitable prospects in Asia Pacific in the near future owing to rise in the Internet penetration in the region and increased focus of regional governments on investing heavily in data centers
Data Center Cooling Market: Key Players
Some of the key players profiled in the report are:
- Schneider Electric
- Asetek, Inc.
- Systemair AB
- Fujitsu Limited
- Mitsubishi Electric Corporation
- Rittal GmbH & Co. KG
- Nortek Air Solutions, LLC
- Airedale International Air Conditioning Ltd.
- Siemens
- STULZ Gmbh
- Belden Inc.
- Vertiv Group Corp.
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Data Center Cooling Market Segmentation
- Component
- Solution
- Air Cooling
- Liquid Cooling
- Services
- Design & Installation
- Maintenance & Support
- Solution
- Type
- Air Cooling
- Room Cooling
- In-row Cooling
- Rack Cooling
- Liquid Cooling
- Direct-to-Chip
- Rear-door Heat Exchangers
- Immersion Cooling
- Air Cooling
- End-user
- BFSI
- IT & Telecom
- Government
- Retail
- Manufacturing
- Healthcare
- Energy & Utilities
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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