Global Data Center Cooling Market Size Reached USD 12.35 Billion by 2023, at a Growth Rate of (CAGR) 13.8%

Global Data Center Cooling Market size was valued at USD 12.35 billion in 2023 and projects approximate growth at a CAGR of around 13.8% during 2024-30.

NEW HAVEN, CONNECTICUT, USA, July 15, 2024 /EINPresswire.com/ -- The Global Data Center Cooling Market size was valued at USD 12.35 billion in 2023 and projects approximate growth at a CAGR of around 13.8% during the forecast period, i.e., 2024-30.

Factors Affecting the Growth of the Data Center Cooling Industry:

• High Demand for Data Centers in Global Market – Increasing urbanization with innovative technology, and rapidly growing data traffic led to a rise in day-to-day data usage consistently, resulting in a flourishing demand for data storage. This gives the new hype to establishing more data center cooling setups. Data center cooling reduces the risk of an unpredictable rise in temperature, hence is crucial for data centers’s fluent functioning.

• Enforcing efficiency in data centers: For managing this competitive market where there is a scope of immersive data requirements, it’s important to improve the capability to handle the necessity. The enlarging IT sector industry, usage of 5G Internet, and increasing size & numbers of the service provider companies, benefit the data center cooling to fulfill the requirements with efficiency. This facilitates to boost of the market Globally.

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Leading Companies Operating in the Global Data Center Cooling Market

• STULZ Gmbh
• Vertiv Group Corp.
• Modine
• Fujitsu
• Black Box
• Green Revolution Cooling Inc.
• Iceotope Technologies Limited
• Dug Technology
• Asperitas
• Submer
• DCX Liquid Cooling Systems
• Rittal Gmbh & Co. Kg
• Schneider Electric
• Asetek, Inc.
• Nortek Air Solutions, Llc

Global Data Center Cooling Market Segmentation

• By Solution (Air Conditioning, Chilling Units, Cooling Towers, Economizer Systems, Liquid Cooling Systems, and Control Systems)
• By Service (Consulting, Installation & Deployment, Maintenance & Support)
• By Type of Cooling (Room-based Cooling, and Row/Rack Cooling)
• By Verticals (BFSI, IT & Telecom, Retail, Healthcare, Research & Educational Institutes, Energy, Government & Defense)
• By Region (North America, South America, Europe, The Middle East & Africa, Asia-Pacific)
• By Company (Competition Characteristics, and Revenue Shares)

Based on Verticals:

• BFSI
• IT & Telecom
• Research & Educational Institutes
• Government & Defense
• Retail
• Energy
• Healthcare
• Others

The Research and Educational Institutes segment holds a considerable market share. The main reason behind this is the optimum utilization of data by educational and research institutes. This results in extensive usage of data center cooling for proper functioning. Hence, this rise in demand led to the growth in the market worldwide.

Based on the Type of Data Center:

• Mid-sized Data Centers
• Enterprise Data Centers
• Large Data Centers

Enterprise Data Centers capture a dominant market share. It houses physical computing equipment like servers, network systems, and storage devices and, in parallel offers supporting infrastructure like power, cooling, and environmental monitoring systems. This anticipated significant growth in the future years.

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Regional Insights: Asia-Pacific Demonstrates Clear Progress in Market Share

The extensive growth and dominance of Data Centre Cooling in this region is because of heavy inventment from the Business and Government sectors. Digital transformation, widespread adoption of cloud computing services, and AI-driven applications hold a large investment. This cooling efficiency for handling heat generation is on the hype, thus elevating the Asia-Pacific Data Center Cooling Market.

Global Data Center Cooling Market Challenges

High Installation And Maintenance Cost – For better maintenance and persistent growth of a data center, one requires capital investments. High expense generation results in decreasing the scope of investment opportunities. This can be a crucial reason behind the dropping of the Data Center Cooling Market in terms of growth perspectives.

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