Chicago, Jan. 31, 2023 (GLOBE NEWSWIRE) -- The global "Data Center Cooling Market is projected to grow from USD 9.4 billion in 2020 to USD 15.7 billion by 2025, at a CAGR of 10.7% from 2020 to 2025, as per the recent study by MarketsandMarkets™. The major reasons for the growth of the data center cooling market include improving efficiency in data centers, rising spending on data centers, and significant growth in number of data centers and their power density. Furthermore, factors like increasing demand for cost-effective data center solutions, and the rising significance of eco-friendly data center solutions are also responsible for driving the demand for data center cooling market.
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Browse In-Depth TOC On "Data Center Cooling Market”
153 - Market Data Tables
36 - Figures
193 - Pages
List of Key Players in Data Center Cooling Market:
- Asetek (Denmark)
- STULZ GmbH (Germany)
- Coolcentric (US)
- AdaptivCOOL (US)
- Airedale International (UK)
- Rittal GmbH & Co. KG (Germany)
- Nortek Air Solutions, LLC (US)
- Schneider Electric SE (France)
- Vertiv Holdings Co. (US)
- Black Box Corporation (US)
- Munters Group AB (Sweden)
Drivers, Restraints, Opportunities and Challenges in Data Center Cooling Market:
- Driver: Increasing demand for cost-effective data center solutions
- Restraint: High investment costs
- Opportunity: Growing requirement for modular data center cooling approach
- Challenge: Reduced carbon emissions
Key Findings of the Study:
- By component, solution segment is estimated to dominate the global data center cooling market.
- By solution, air conditioning segment is estimated to lead the data center cooling market from 2020 to 2025.
- By services, installment & deployment segment is estimated to dominate the data center cooling market from 2020 to 2025.
- By type of cooling, room-based segment is estimated to grow with a high CAGR between 2020 to 2025, in the global data center cooling market.
- By data center type, the large data center segment is projected to dominate the global data center cooling market, during the forecast period.
- By industry, the IT & telecom segment is projected to dominate the global data center cooling market, during the forecast period.
- North America is estimated to lead the global data center cooling market during forecast period.
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Due to the COVID-19 pandemic, there has been a disruption felt across the world in almost all end-user industries, particularly severe in the IT & telecom sector. There have been ripple effects of COVID-19 on the overall world economy, and various data center projects across the world during the first six months of 2020 have taken a significant hit. This has limited the spending of big companies and service providers on infrastructure development and maintenance, thereby impacting the demand for data center solutions and services in 2020.
The solutions component segment of the data center cooling market is projected to dominate the global data center cooling market during the forecast period of 2020 to 2025. The liquid cooling systems solution segment is projected to record the highest growth in the global data center cooling market, during the forecast period. The high growth of the liquid cooling systems solution segment is majorly attributed to their advantages over air cooled systems. The liquid cooling systems provide cooling at a reduced energy cost as compared to air cooling systems along with lower the noise levels originating from equipment such as fans in the air-cooling systems.
The installment & deployment services segment is projected to dominate the global data center cooling market, during the forecast period. The installation & deployment services can be used by small and medium enterprises (SMEs) as well as large organizations to assist them in the deployment of energy-efficient data center cooling in a cost-effective manner. They also act as a one-stop-shop for hassle-free deployments with minimum downtime. These services are increasingly being used by organizations worldwide.
The room-based type of cooling segment is projected to grow with a high CAGR in the global data center cooling market, during the forecast period. Room-based cooling consists of cooling units operating concurrently to address the heat load of the entire room and focuses on reducing the rising temperature in data centers and server rooms. These cooling units overcome the issues related to the lack of space in data centers.
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The mid-sized data center type segment is projected to grow with the highest CAGR in the global data center cooling market, during the forecast period. Mid-sized data centers deploy cooling systems that are scalable and can also match the cooling requirements as the data centers grow. The data center cooling solutions for mid-sized data centers provided by major players enable facility owners to start with low-density data centers and, later, scale up to high density as and when required. This advantage, coupled with the exponential growth in the number of organizations using data centers to store mission-critical data, is expected to drive the adoption of data center cooling solutions in mid-sized data centers in the future.
The IT & Telecom industry segment is estimated to dominate the global data center cooling market, during the forecast period. The IT & telecom industry is increasingly adopting advanced technologies, such as blade servers and 5G, to cater to the growing computational requirements. This segment has been witnessing increases in the energy requirement creating growth opportunities for efficient cooling solution providers in the data center market.
Asia Pacific is projected to be the fastest growing market for data center cooling during the forecast period. The growing demand for data center cooling is primarily driven by increasing public and private sector investments in projects catering to sectors such as banking, telecom, and government. Also, factors like the growing IT and digital commerce sectors are expected to increase the data traffic in the region, in turn propelling the growth of the data center cooling market during the forecast period.
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