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Data Center Cooling Market was estimated USD 8,432 million in 2019 and Growing at a CAGR of 10.3% during 2020-2027 | Size, Share & Growth Forecast

09-21-2022 09:32 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: GMI Research

Data Center Cooling Market

Data Center Cooling Market

Data Center Cooling Market

The Data Center Cooling Market was valued around USD 8,432 million in 2019 and is expected to grow at a CAGR of 10.3% over the forecast period (2020-2027)

For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/data-center-cooling-market-analysis-industry-research/

The factors driving the growth of Data Center Cooling Market includes rise in the number of data centers around the world, growing demand for cost-effective data center solutions, increased spendings by companies on IT infrastructure, proliferation of connected devices and shift towards digital transformation across industry verticals. As per the report published by DLA Piper, the total number of data center transactions worldwide have risen from 69 in 2020 to 117 in 2021 and the total investments in data centers reached USD59.5 billion in 2021, which will accelerate the Global Data Center Cooling Market in the approaching years. Moreover, rise in the volumes of data generated across the globe, growing focus on developing environment friendly data center solutions, emergence of liquid-based cooling technology and commercialization of data center services, are some of the additional factors supplementing the Data Center Cooling Market share. In addition, increasing investments by major corporations on research and development, strategic mergers and acquisitions between key industry players, rapid urbanization, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.

However, growth of the Data Center Cooling Market is hindered attributed to high cost of constructing data center.

The leading players operating in the market are Coolcentric, Degree Controls Inc., AIREDALE INTERNATIONAL AIR CONDITIONING LTD., Vertiv Group Corp., Black Box Corporation, Asetek, inc., Rittal GmbH & Co. KG, Schneider Electric, STULZ GMBH, and Condair Group, among others.

Based on Solution, the Liquid Cooling Systems segment is predicted to grow at a significant CAGR during the forecast period

Liquid cooling systems produces less noise and incurs less energy cost as compared to air cooling systems, are pushing growth of the segment.

Based on Type of Cooling, the Row/Rack-based cooling segment is projected to capture the largest market share over the forecast period

The row/rack-based cooling systems require less power for cooling and reduces the airflow path length at data centers, are propelling growth of the segment.

Based on Region, the Asia-Pacific region is anticipated to expand at a remarkable CAGR during the forecast period

Rise in the number of data centers, expansion of the IT & Telecom industry, rapid industrialization, increasing disposable incomes, improvements in the living standards and high population growth rates, are some of the important factors augmenting the Data Center Cooling Market size in Asia-Pacific region.

Key Developments

In 2020, Vertiv Group Corp. launched VRC-S, a rack incorporated with infrastructure support equipment. This new product has rack power distribution unit, monitoring sensors and software, and is available in North America via company's representatives.
In 2020, Asetek, Inc., partnered with Hewlett Packard Enterprise (HPE) to launch its premium data center liquid cooling solutions in HPE Apollo Systems.

Market Segmentation

Segmentation by Solution

Air Conditioning
Chilling Units
Cooling Towers
Economizer Systems
Liquid Cooling Systems
Control Systems
Others

Segmentation by Services

Consulting
Installation & Deployment
Maintenance & Support

Segmentation by Type of Cooling

Room-based cooling
Row/Rack-based cooling

Segmentation by Data Center Type

Mid-Sized Data Centers
Enterprise Data Centers
Large Data Centers

Segmentation by Industry

BFSI
IT & Telecom
Research & Academic
Government & Defense
Retail
Energy
Manufacturing
Healthcare
Others

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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Company Name: GMI RESEARCH
Contact Person: Sarah Nash
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