Dublin, Aug. 14, 2024 (GLOBE NEWSWIRE) -- The "Europe Data Center Cooling Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
Europe's data center cooling market is projected to grow at a CAGR of 11.13% from estimated value of US$3.794 billion in 2024 to US$6.432 billion in 2029.
The demand for cooling systems is poised for significant growth in Europe, fuelled by the bolstering growth in IT and telecommunication, BFSI, and government sectors, which has increased the scale of complex data volume that requires necessary storage. Emerging technologies in data center cooling coupled with growing cloud computing and data center establishments have propelled Europe's data center cooling market growth. However, the high initial capital cost can hinder the demand for such tools, thereby restraining market growth.
Growing data center demand is expected to boost the Europe data center cooling market growth.
Europe harbours economies, namely the United Kingdom, Germany, France, and Spain, among others, which are witnessing significant growth in improving their digital and IT infrastructure. This growth is attributable to the growing corporate culture, improved foreign direct investments in new business establishments, and strategic maneuvers.
Hence, such corporate developments are set to increase data traffic in Europe, which has stimulated demand for data centers and led to investment in new establishments. For instance, in January 2024, Google announced an investment of US$1 billion in new UK data centers that would further the digital growth in the economy.
Emerging green technologies for data center cooling have provided new growth prospects.
Major leading European nations are implementing strategies to minimize the growing climate change, which is impacting their economic status. Data centers generate a massive amount of heat, and to combat such issues, various emerging green technologies for data centers to minimize their environmental impact are taking place, which is set to provide new growth opportunities.
For instance, in September 2023, the Danish Data Center Industry (DDI), in collaboration with Google, Danfoss, Microsoft, and Schnieder Electric, launched the "Net Zero Innovation Hub For Data Centers" in Denmark, aiming to promote the adoption of solutions that would propel the green transition of data centers. Additionally, in March 2024, Ardian acquired the entire share capital of the UK-based data center platform Verne for US$1.2 billion, which the latter would use to expand its sustainable data center platform across Northern Europe.
Moreover, favorable government initiatives such as the "European Green Deal", which aimed to minimize the carbon emission by Europe's energy system, act as an additional driving factor for the regional market expansion.
High capital cost associated will act as a market obstacle.
Cooling equipment is necessary for the proper functioning of data centers. However, the cost associated with such tools can be relatively high depending on the size of the facility and the number of servers it employs. Such initial investments can hinder the demand for data center cooling in underdeveloped economies in Europe, thereby limiting regional market growth.
The UK is expected to hold a significant market share during the forecast period.
Country-wise, the European data center cooling market is divided into Germany, France, the UK, Spain, Italy, Denmark, Sweden, the Netherlands, and others. The United Kingdom is expected to show significant market growth. It will constitute a remarkable share as IT infrastructure, including data centers, bolsters digitization in the economy and is witnessing positive expansion. Major locations, namely London, Zurich, Frankfurt, Stockholm, and Madrid, are witnessing investments in new establishments. Moreover, the growing internet and 5G network penetration fuelled by investments undertaken under "Industry 4.0" has further led to an upward market trajectory.
According to the Office of National Statistics, in May 2022, internet sales accounted for 25.9% of all retail spending, representing a significant jump from 11.2% recorded in 2018. Another reason for an increase in data center cooling equipment is climate change, which impacts devices and increases the heat in them. This can damage the inner functioning of the system and increase the requirement for data center cooling equipment.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 102 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $3.79 Billion |
| Forecasted Market Value (USD) by 2029 | $6.43 Billion |
| Compound Annual Growth Rate | 11.1% |
| Regions Covered | Europe |
Companies Featured
- AIREDALE INTERNATIONAL AIR CONDITIONING LTD
- IBM
- Fujitsu (Furukawa Group)
- Eaton Corporation
- Vertiv Group Corp
- Hewlett Packard Enterprise Development LP
- Schneider Electric
Scope of the Report
By Solution
- Air Conditioner
- Chillers
- Economizers
- Cooling Towers
- Others
By Enterprise Size
- Small
- Medium
- Large
By End-Users
- Colocation Service Provider
- Cloud Service Provider
- Enterprise
By Industrial Vertical
- BFSI
- Manufacturing
- Healthcare
- Communication and Technology
- Energy
- Education
- Government
- Media and Entertainment
- Others
By Country
- Germany
- France
- United Kingdom
- Spain
- Italy
- Denmark
- Sweden
- Netherlands
- Others
For more information about this report visit https://www.researchandmarkets.com/r/vqcyrm
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