Data Center Cooling Market to Surpass 56145.9 Million by 2030 Drives Due to Rapid Expansion of Cloud Computing
SkyQuest projects that the data center cooling market will attain a value of USD 56145.9 million by 2030, with a CAGR of 17.1% over the forecast period (2023-2030). The rapid expansion of cloud computing and the proliferation of data-intensive applications have ushered in a substantial surge in the demand for data centers. As organizations increasingly migrate their operations to the cloud and rely on data-driven applications, robust and efficient data storage and processing facilities have become paramount in the data center cooling market.
Westford, USA, Jan. 05, 2024 (GLOBE NEWSWIRE) — According to SkyQuest, the data center cooling market is on a trajectory of significant growth, driven by an increasing demand for energy-efficient solutions and substantial planned investments. This burgeoning demand has paved the way for promising avenues of future growth.
Browse in-depth TOC on the “Data Center Cooling Market”
- Pages – 157
- Tables – 122
- Figures – 77
The landscape of data centers is undergoing a transformative surge, driven by several compelling factors in the data center cooling market. The proliferation of cloud services has revolutionized the way data is stored and accessed, compelling organizations to invest in new data center facilities to meet the surging demand for cloud infrastructure.
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Prominent Players in Data Center Cooling Market
- Schneider Electric SE
- Vertiv Co.
- Eaton Corporation plc
- Rittal GmbH & Co. KG
- Airedale International Air Conditioning Ltd.
- STULZ GmbH
- Asetek A/S
- Coolcentric
- Black Box Corporation
- ClimateWorx International Inc.
- Delta Electronics Inc.
- Fujitsu Limited
- Hewlett Packard Enterprise Development LP
- IBM Corporation
- Johnson Controls International plc
- Mitsubishi Electric Corporation
- Nortek Air Solutions LLC
- Siemens AG
- Trane Technologies plc
- Vigilent Corporation
Air Conditioners Segment is Expected to Dominate the Market Due to the Widespread Preference for Air Conditioning Solutions
Air conditioners segment emerged as the dominant player in the data center cooling market, securing a substantial market share of over 30% of the overall revenue. This prominence is attributed to various end-users’ widespread preference for air conditioning solutions.
The market in North America is anticipated to maintain its position as the global leader in the demand for data center cooling market, with a projected expansion at a remarkable CAGR exceeding 12.7%, as suggested by industry projections.
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Precision Air Conditioners Segment is Expected to Grow the Market Due to Technological Advancements
Precision air conditioners segment is poised for remarkable growth in the data center cooling market, with a projected CAGR surpassing 18% over the forecast period. This robust expansion can be attributed to a confluence of factors, chief among them being ongoing technological advancements in precision cooling technologies.
Regional markets in Asia Pacific are poised to ascend significantly in importance. This elevation in significance can be attributed to the escalating demand for data center cooling applications within the data center cooling market. One driving force behind this trend is the burgeoning number of external IT infrastructure service providers actively managing and operating mission-critical business data and applications.
A comprehensive analysis of the major players in the data center cooling market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Data Center Cooling Market
- Schneider Electric SE recently made a significant announcement by introducing its EcoStruxure Micro Data Center C-Series. This innovative solution represents a compact, secure, and highly energy-efficient data center for edge computing applications. In an era where edge computing is gaining prominence due to its ability to bring data processing closer to the source, Schneider Electric’s launch addresses the growing demand for robust edge data center solutions that ensure data reliability and security.
- Vertiv Co. recently made a strategic move by acquiring E&I Engineering Ireland. E&I Engineering Ireland is renowned for its expertise in providing electrical switchgear and power distribution systems. This acquisition was a calculated step by Vertiv to expand and diversify its portfolio of power solutions tailored specifically for data centers.
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Key Questions Answered in Data Center Cooling Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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