Press release
Data center cooling market 2021 | Key drivers, business insights and future trends along with leading market players
Surge in demand for cost-effective and efficient data centers, initiatives for development of eco-friendly data center solutions, and considerable growth in power density facilitate the growth in the global data center cooling market. However, increase in demand for advanced infrastructure, high cost of investment and cooling challenges at the time of power outage restrain the market growth. On the other hand, advent of liquid-based cooling, portability of cooling technology, and modular approach adopted for data center create numerous opportunities in the market.
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Comprehensive competitive analysis of the major market players, such as Black Box Corporation, Fujitsu Ltd., Nortek Air Solutions, LLC, Asetek, Emerson Electric Co., Vertiv, Stulz Gmbh, Hitachi, Ltd., Schneider Electric Se, and Rittal Gmbh & Co. Kg. included in this report. They have adopted different strategies including joint ventures, collaborations, expansions, partnerships, mergers & acquisitions, and others to gain a stronghold in the industry.
Based on component, the solutions segment contributed more than two-thirds of the total market share and is expected to maintain its leadership position throughout the forecast period. This is due to increase in adoption of environment-friendly, energy-efficient, and cost-effective cooling solutions as governments have started imposing stringent environment safety rules.
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Based on type of cooling, rack based cooling is expected to grow at the highest CAGR of 16.5% from 2018 to 2025, owing to its ability to offer accurate conditions in close proximity and requirement of high data center rack density due to adoption of powerful hardware for supporting artificial intelligence applications. However, room based cooling held the major market share, accounting for nearly half of the total share in 2017, and is estimated to dominate during the forecast period.
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Based on geography, North America accounted for nearly half of the total market share in 2017, and is expected to maintain its dominant position by 2025. This is due to increase in adoption of big data and cloud solutions with generation of huge amount of data.
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