Data Center Cooling Market Set to Soar USD 856.51 Million by 2027, Growing at a CAGR of 12.8%
WILMINGTON, DE, UNITED STATES, July 11, 2024 /EINPresswire.com/ -- The global data center cooling market size was valued at $10,541.82 million in 2019, and is projected to reach $27,308.73 million by 2027, growing at a CAGR of 12.8% from 2020 to 2027.
The hyperscale data center segment is expected to grow at the highest CAGR during the forecast period, owing the advent of cloud computing that in turn is expected to increase the need for cooling solutions.
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Increase in the demand for efficient and cost-effective data centers, green initiatives for eco-friendly data center solutions, substantial growth with data center and power density drive the market growth. However, requirement of specialized infrastructure and higher investment cost and cooling challenges during power outage is expected to hamper the growth of the global data center cooling market during the forecast period. Furthermore, emergence of liquid-based cooling and portable cooling technologies and growth in requirement for modular data center cooling approach are anticipated to provide lucrative opportunities for the market growth.
Room-based cooling dominated the overall data center cooling market share in 2019 and is expected to continue this trend during the forecast period as it provides effective cooling at less cost. Furthermore, room-based cooling is anticipated to maintain large market share owing to the least use of pipes and ducts compared to other cooling types. Conversely, air conditioners and other air-based cooling circulate air to maintain temperature in data centers within permissible limit. Therefore, room-based cooling is gaining ground due to its energy-efficient cooling.
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Demand for data center cooling is on the rise across various industries as it enables maintaining environmental conditions suitable for information technology equipment (ITE) operations. Awareness around edge computing has increase across various industries and the COVID-19 pandemic is acting as a major driver to get industrial companies more interested in benefits related to edge computing in supporting remote operations, real-time control, and enhanced data-crunching capabilities. Large enterprises are affirming their readiness to invest in edge strategies, establishing a market beyond telecom companies and content players. Further, some companies are inclined toward revamping their existing data center cooling systems to make it less water-dependent.
The global data center cooling market analysis includes some of the key market players such as Schneider Electric Se; Black Box Corporation; Nortek Air Solutions, LLC; Airedale International Air Conditioning Ltd.; Hitachi, Ltd.; Rittal Gmbh & Co. Kg; Fujitsu Ltd.; Stulz Gmbh; Vertiv Co; and Asetek. This study includes market trends, market analysis, and future estimations to determine the imminent investment pockets.
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