Global Data Center Cooling Market

Dublin, Dec. 02, 2022 (GLOBE NEWSWIRE) -- The "Data Center Cooling Market Size, Share & Trends Analysis Report by Product, by Application, by Containment, by Structure, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.

The global data center cooling market size is expected to reach USD 56.15 billion by 2030, advancing at a CAGR of 17.2% from 2022 to 2030

An increase in the number of data centers facilities worldwide is favoring the rapid growth in this space. Additionally, a gradual shift towards cloud services is creating demand for eco-friendly cooling technology.

The favorable initiatives by governing bodies across the globe aimed at promoting cloud proliferation are driving the demand for data centers, subsequently creating avenues for the datacenter cooling industry. For instance, the United Arab Emirates (UAE) funded several projects related to cloud computing such as Smart Abu Dhabi or Smart Dubai.

These projects were aimed at bringing in rapid digital transformation among enterprises while favoring the country's economic growth. Such initiatives and more by different governments globally will impel data center demand globally, thereby proliferating the need for cooling solutions.

The data center expansion is often associated with high CO2 emissions and increased energy usage. Furthermore, the data center cooling solutions are estimated to account for 35% of the total energy consumption in data center facilities.

Therefore, vendors in this space are aiming to introduce sustainable cooling solutions while attempting to save over 70% of the cost associated with cooling. For example, Apple's North Carolina data center facility operates on sustainable power sources, and data center cooling is achieved through the free-air cooling technique, allowing the chillers to be off for almost 80% of the time.

Additionally, there is increasing pressure from the local and federal government agencies, environmentalists, and the general public, on organizations to implement green initiatives.

Therefore, the rising demand for environment-friendly and cost-effective cooling solutions is expected to propel the growth of the datacenter cooling market. However, high installation and maintenance costs, electricity consumption, and carbon emissions are some of the challenges affecting the market growth.

Data Center Cooling Market Report Highlights

• IT & telecom captured over 45% of the overall revenue share in 2021. 5G penetration and the pandemic that brought about a rapid need for digital transformation among enterprises is the key success factor for the segment's success over the last few years.

• Raised floor containment, although ranking third among all containment types, is expected to gain traction in the future. The segment is projected to surpass a revenue demand of approximately USD 12.7 billion by 2030.

• Although the category was popular in earlier days, several factors such as ineffective cooling and costs have driven down the demand over the last few years.

• The worldwide market for data center cooling is expected to witness substantial growth owing to the need for enhanced cooling techniques to negate the scorching heat due to rising global temperatures.

• The market is highly consolidated and characterized by stiff competition with the presence of major global players, who are focusing on introducing different data center cooling techniques in order to enhance their market presence.

Competitive Landscape

• Air Enterprises

• Asetek

• Climaveneta Climate Technologies (P) Ltd.

• Coolcentric

• Fujitsu Limited

• Hitachi, Ltd.

• Netmagic Solutions

• Rittal GmbH & Co. Kg

• Stulz GmbH

• Schneider Electric

• Telx Holdings, Inc. (Digital Realty Trust, Inc.)

• Vertiv Co.

For more information about this report visit https://www.researchandmarkets.com/r/8c40qp

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• Global Data Center Cooling Market

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