Data Center Cooling Market worth $29.6 billion by 2030 Globally, at a CAGR of 12.8%, says MarketsandMarkets™

Chicago, March 07, 2024 (GLOBE NEWSWIRE) -- The Data Center Cooling Market is projected to grow from USD 12.7 billion in 2023 to USD 29.6 billion by 2030, at a CAGR of 12.8% from 2023 to 2030, as per the recent study by MarketsandMarkets™. The key factor for the growth of the data center cooling market includes the development of more efficient and effective data center cooling technologies, as these advancements enable better performance and reduced temperature increases, which are crucial for maintaining optimal system performance.

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246 - Market Data Tables

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List of Key Players in Data Center Cooling Market:

1. Asetek (Denmark)
2. STULZ GmbH (Germany)
3. Coolcentric (US)
4. AdaptivCOOL (US)
5. Airedale International (UK)
6. Rittal GmbH & Co. KG (Germany)
7. Nortek Air Solutions, LLC (US)
8. Schneider Electric SE (France)
9. Vertiv Holdings Co. (US)
10. Black Box Corporation (US)
11. Munters Group AB (Sweden)

Drivers, Opportunities and Challenges in Data Center Cooling Market:

1. Drivers: Improving efficiency in data centers.
2. Restraint: High investment costs
3. Opportunity: Growing requirement for modular data center cooling approach
4. Challenge: Cooling challenges during power outage

Key Findings of the Study:

1. By component, the solution segment is estimated to dominate the global data center cooling market.
2. The air conditioning segment, by solution, is estimated to lead the data center cooling market.
3. By service, the maintenance & Support segment is estimated to dominate the data center cooling market.
4. The room-based cooling segment, by type of cooling, is estimated to lead the market.
5. Large data center segment, by data center type, is projected to dominate the global data center cooling market.
6. The IT & telecom segment, by industry, is projected to dominate the global data center cooling market, during the forecast period.
7. Asia Pacific is estimated to lead the global data center cooling market.

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By industry, the IT & Telecom segment is projected to be the largest segment from 2023 to 2028. The IT & Telecom segment is one of the primary drivers for the data center cooling market. Fueled by increasing data processing demands, widespread adoption of cloud services, and ongoing technological advancements in IT infrastructure, this segment fuels the demand for efficient cooling solutions. The sector's commitment to regulatory compliance and sustainability further underscores the need for cutting-edge cooling technologies, establishing it as a key force in the global growth of the data center cooling market.

The row/rack-based cooling segment, by type of cooling, is projected to be the fastest-growing segment from 2023 to 2028. The row/rack-based cooling segment is fueled by its precision cooling capabilities, scalability, and adaptability to high-density computing. Offering targeted solutions that optimize energy efficiency and costs, this segment's modular design caters to the evolving needs of modern data centers, ensuring seamless scalability. The row/rack-based cooling's precision, scalability, and adaptability to high-density computing will catalyze the expansion of the data center cooling market by offering efficient, cost-effective solutions tailored to evolving industry needs.

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Asia Pacific is projected to be the largest market for data center cooling during the forecast period, driven by factors such as exponential data growth, government emphasis on sustainability, and technological advancements. The surge in data-intensive applications, high-performance computing across industries such as finance, healthcare, and technology, cloud computing adoption, and IoT proliferation have fueled the demand for efficient cooling solutions. The increasing demand for faster processing speeds and more efficient data handling has led organizations to invest in such systems. This drives the need for advanced cooling solutions like data center cooling to manage heat challenges effectively.

Schneider Electric (France)

Schneider Electric provides energy and digital automation solutions for efficiency and sustainability by combining energy technologies, real-time automation, software, and services into integrated solutions for data centers, infrastructures, and industries. It manufactures various products and services, including power management, Uninterruptable Power Supply (UPS) systems, surge suppressors, precision cooling equipment, power conditioning equipment, software, and professional and consulting services. The company has manufacturing facilities in the US, Switzerland, Denmark, Ireland, the Philippines, China, India, and Brazil. Schneider Electric operates through two segments: Energy Management and Industrial Automation. The Energy Management segment leverages a complete end-to-end technology offering enabled by EcoStruxure. The Industrial Automation segment comprises industrial automation and control activities across discrete, process, and hybrid industries. The company provides data center cooling solutions through the Energy Management segment. Schneider Electric caters to the construction, residential, energy, and infrastructure industries.

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