Global Data Center Cooling Market Size, Share and Trend Analysis Report 2022 – A $56.15 Billion Market by 2030

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Global data center cooling market

Global data center cooling market

Global data center cooling market

Dublin, 02 December 2022 (GLOBE NEWSWIRE) — The report ‚ÄúData Center Cooling Market Size, Share and Trend Analysis by Product, by Application, by Containment, by Facility, by Region and Segment Forecast, 2022-2030 ” was added to ResearchAndMarkets.com offer.

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

An increase in the number of data center facilities around the world is driving rapid growth in this space. Additionally, a gradual shift towards cloud services is creating demand for environmentally friendly cooling technology.

Favorable initiatives by governing bodies around the world to promote cloud proliferation are driving demand for data centers, subsequently creating avenues for the data center cooling industry. For example, the United Arab Emirates (UAE) has funded several cloud computing related projects such as Smart Abu Dhabi or Smart Dubai.

These projects aimed to bring about a rapid digital transformation among companies, favoring the economic growth of the country. These initiatives and others by various governments globally will stimulate demand for data centers globally, thereby multiplying the need for cooling solutions.

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

Therefore, vendors in this space aim to introduce sustainable cooling solutions while attempting to save over 70% of the cost associated with cooling. For example, Apple’s data center facility in North Carolina runs on sustainable energy sources and data center cooling is achieved through the free air cooling technique, allowing the chillers to be turned off for nearly 80% of the time. time.

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

Therefore, the growing demand for environmentally friendly and cost-effective cooling solutions is expected to stimulate the growth of the data center cooling market. However, high installation and maintenance costs, electricity consumption and carbon emissions are some of the challenges affecting the growth of the market.

Data Center Cooling Market Report Highlights

  • IT and telecom captured more than 45% of the overall revenue share in 2021. The penetration of 5G and the pandemic that has brought about a rapid need for digital transformation among enterprises is the key factor for the success of the segment in recent years.

  • Raised floor containment, although it ranks third among all containment types, is expected to gain ground in the future. The segment is projected to exceed a revenue demand of approximately $12.7 billion by 2030.

  • While the category was popular in the past, several factors such as ineffective cooling and cost have reduced demand in recent years.

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

  • The market is very established and characterized by fierce competition with the presence of large global players, who are focusing on introducing different data center cooling techniques to enhance their presence in the market.

Ratio attribute

Details

No. of pages

160

Forecast period

2022 – 2030

Estimated market value (USD) in 2022

$15.74 billion

Projected market value (USD) by 2030

$56.15 billion

Compound annual growth rate

17.2%

Regions covered

Global

Competitive landscape

  • Airline companies

  • Asetek

  • Climaveneta Climate Technologies (P) srl

  • Coolcentric

  • Fujitsu Limited

  • Hitachi, Ltd.

  • Net Magic Solutions

  • Rittal GmbH & Co.Kg

  • Stulz GmbH

  • Schneider Electric

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

  • Vertiv Co.

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

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