New York, US, May 26, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Critical Power and Cooling Market Information by Type, End User, and Region - Forecast till 2030”, Critical Power and Cooling Market could thrive at a rate of 11.80% between 2022 and 2030. The market size will be reaching around USD 53.10 Billion by the end of the year 2030.
Critical Power and Cooling Market Overview
Critical power and cooling is a technology used to ensure continuous and uninterrupted power supply and cooling for critical IT equipment, such as data centers and communication networks. It involves the use of backup power systems, including generators and batteries, as well as cooling systems such as air conditioners and chillers, to maintain optimal operating conditions for these critical facilities.
Critical power and cooling technology is used in a variety of applications, primarily in data centers, communication networks, and other critical facilities such as hospitals and financial institutions. These facilities require uninterrupted power supply and cooling to prevent costly downtime and maintain optimal performance. Critical power and cooling systems ensure that critical IT equipment and infrastructure continue to operate seamlessly, even in the event of power outages or equipment failures.
Market Competitive Landscape:
The affluent companies in the Critical Power and Cooling industry include
- Schneider
- ABB
- General Electric
- Eaton Corporation
- Delta Electronic Inc
- Critical Power
- Xiamen Kehua Hengsheng Co Ltd
- Socomec
- Falcon Electric Inc
- Daikin Industries Ltd
- Stulz
- Asetek
- Siemens
- Johnson Controls Inc
- SPX Corporation
- Among others.
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February 2021
Schneider Electric announced the launch of its EcoStruxure Micro Data Center C-Series, which offers a complete edge computing solution for distributed IT environments. The solution is designed to provide critical power and cooling in a compact, self-contained unit that can be easily deployed in remote locations.
Market Segmentation
By Type
The Type in the market includes Uninterrupted Power Supply, Generators, Air Conditioning, and Chilling Units.
By End User
The End Users in the market include Industrial, Commercial, IT & Telecommunication, and Transportation.
Report Scope:
| Report Metrics | Details |
| Market Size 2030 | 2030: USD 53,101.8 Million |
| CAGR during 2022-2030 | 11.8% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type and End-User |
| Key Market Opportunities | The growing popularity of digitalization and cloud computing |
| Key Market Drivers | The increasing number of data centers augmenting the market growth |
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Critical Power and Cooling Market USP Covered:
Market Drivers:
The critical power and cooling market is witnessing strong growth due to the increasing demand for reliable and uninterrupted power supply in various sectors such as healthcare, data centers, banking, and other industries. The growth of cloud computing and data centers is driving the market as these centers require large amounts of power and cooling to ensure the smooth operation of critical systems. Furthermore, the increasing use of automation in industries such as manufacturing and automotive is boosting the demand for critical power and cooling solutions to ensure the seamless operation of automated systems.
The rising demand for renewable energy sources is another factor driving the market growth. The deployment of renewable energy sources such as solar, wind, and hydropower is increasing globally, creating a need for critical power and cooling solutions that can integrate with these sources and ensure uninterrupted power supply. The need for energy-efficient solutions is also driving the market as energy-efficient critical power and cooling systems can reduce power consumption, decrease costs, and reduce carbon emissions.
The adoption of IoT and edge computing technologies is another key driver of the critical power and cooling market. The growth of these technologies has led to a significant increase in data generation, which requires robust critical power and cooling solutions to ensure the continuous operation of critical systems. With the increasing adoption of these technologies, the demand for efficient and reliable power and cooling solutions is expected to grow exponentially in the coming years.
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Market Restraints:
The high cost of installation and maintenance is one of the primary restraints for the critical power and cooling market. The complex nature of these solutions requires specialized equipment and highly skilled personnel, which can be costly. Additionally, the lack of standardization in the industry can make it difficult for companies to compare different solutions and choose the most cost-effective option.
COVID 19 Analysis
The COVID-19 pandemic has had a mixed impact on the critical power and cooling market. The sudden shift to remote work and online learning has led to an increased demand for critical power and cooling solutions to support these activities. However, the pandemic has also led to supply chain disruptions and manufacturing delays, which have affected the market's growth.
The post-COVID scenario is expected to see continued growth in the critical power and cooling market. The increasing use of edge computing and IoT technologies, coupled with the need for a reliable and uninterrupted power supply, is expected to drive demand for these solutions. Additionally, the shift towards renewable energy sources and energy-efficient solutions is expected to create new opportunities for critical power and cooling providers.
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Regional Insights
The Critical Power and Cooling market is expected to experience significant growth in the Asia-Pacific region, driven by the increasing demand for data centers and the growth of the IT industry. North America and Europe are also expected to remain key markets, driven by the high adoption of cloud computing and edge computing technologies.
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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 regarding 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.
