Pune, India., May 17, 2023 (GLOBE NEWSWIRE) -- According to our latest study on "Data Center Cooling Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Offering, Cooling Type, Data Center Type, Industry Vertical, Component, and Geography,” the market is expected to grow from US$ 10,271.0 million in 2021 to US$ 25,552.2 million by 2028; it is estimated to grow at a CAGR of 14.0% from 2021 to 2028.
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Global Data Center Cooling Market: Competitive Landscape and Key Developments
Asetek Inc., Black Box Corporation, Carrier Corporation, Emerson Electric Co., Fujitsu Ltd., Hitachi Ltd., Modine Manufacturing Company, Nortek Air Solutions, Rittal GmbH, Schneider Electric, Stulz GmbH, and Trane and Vertiv Group Cor. are among the leading market players profiled in the data center cooling market report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their market growth. A few developments are mentioned below:
In January 2023, NTT Ltd. announced the deployment of Liquid Immersion Cooling (LIC) and Direct Contact Liquid Cooling (DCLC) technologies in India.
In September 2022, Dow announced the launch of DOWSIL Immersion Cooling Technology, a next-generation solution for cooling hyperscale cloud and enterprise data centers with optimized efficiency and sustainability. This new DOWSIL immersion cooling technology is designed for single-phase immersion cooling.
In March 2021, Vertiv announced the launch of Liebert VIC-liquid immersion cooling solution for high density-data centers. This solution was developed in partnership with GRC (Green Revolution Cooling). The Liebert VIC is a single-phase immersion cooling solution that offers improved cooling efficiencies in dense computing environments and is available throughout Asia, Australia, and New Zealand.
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Rapid growth in the number of data centers across the world to Drive the Data Center Cooling Market Growth During the Forecast Period:
Data centers play a major role in shaping the world and have become integral to businesses. The augmentation of social media and rising digitization, remote work adoption, OTT services, IoT and data analytics demand, and digital technologies utilization propel the demand for data centers worldwide to store the collected information. The US (2,701), Canada (328), China (443), Germany (487), and the UK (456) are among the topmost countries with the largest data center number. An inclination towards cloud services for enterprises has benefited leading data centers players such as Google Cloud, AWS (Amazon), and Microsoft Azure. Furthermore, increased digitization due to the COVID-19 pandemic, government efforts, AI, and big data have attracted considerable investment in the data center sector from local and foreign companies. With 5G and IoT booming worldwide, digital connectivity is becoming more essential for businesses & citizens, further propelling the number of data centers. Cooling plays a crucial role in these data centers. Sophisticated and robust cooling systems make computers and servers in a data center work uninterruptedly. Proper data center cooling ensures the entire facility supplies enough cooling, ventilation, and humidity control to keep all equipment within desired temperature ranges. Thus, such an increasing number of data centers drives the data center cooling market growth during the forecast period.
Global Data Center Cooling Market: Industry Overview
The data center cooling market is segmented on the basis of offering, cooling type, data center type, industry vertical, offering, and component. Based on the offering, the data center cooling market has been segmented into solutions and services. Based on cooling type, the data center cooling market has been further segmented into room-based, rack-based, and row-based cooling type. Based on data center type, the data center cooling market has been further segmented into enterprise, colocation, wholesale, and hyperscale data center types. Based on industry vertical, the data center cooling market has been segmented into BFSI, manufacturing, IT & telecom, media & entertainment, retail, government, healthcare, energy, and others. The market has been further segmented based on components into chillers, air conditioning units, heat exchangers, cooling towers, air handling units, humidifiers, and others. The data center cooling market is segmented by region into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
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The data center cooling market in North America is projected to witness significant market growth from 2022 to 2028 due to the increasing number of data centers in North American countries. For instance, according to Upsite Technologies, demand for data center capacity in North America more than tripled year-over-year in the first half of 2022 due to a shift toward hybrid cloud environments in a post-pandemic world. According to the North American Data Center Trends Report, service providers brought 214.3 megawatts (MW) of new wholesale colocation supply online in the seven primary US data center markets in the first half of 2021, recording an increase of 7% from 2020. Increasing investments in the construction of data centers by big giants are propelling the data center cooling market growth in North America. For instance, in April 2022, Google planned to invest US$ 9.5 billion in US data centers. These investments include data center development in Tennessee, Virginia, and Oklahoma. All such factors are anticipated to propel North America's data center cooling market growth during the forecast period.
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