According to a new report by Expert Market Research titled, “Global Data Centre Cooling Market Share, Size, Report and Forecast 2024-2032″, the global data centre cooling market size reached a value of around USD 15.83 billion in 2023. Aided by the rising data traffic and energy efficiency goals, the market is projected to further grow at a CAGR of 11.8% between 2024 and 2032 to reach a value of nearly USD 43.40 billion by 2032.
The proliferation of cloud computing, big data analytics, and Internet of Things (IoT) technologies has led to an exponential increase in data traffic, demanding significant enhancements in data centre infrastructures. This, in turn, has escalated the heat density within data centres, highlighting the critical need for effective cooling mechanisms to prevent hardware damage and ensure uninterrupted service.
The global data center cooling market is being driven by the necessity to adopt innovative cooling technologies that not only mitigate heat but also optimise energy consumption, aligning with the growing environmental sustainability trends.
The digital transformation across sectors such as finance, healthcare, entertainment, and IT services has led to a surge in data creation and the need for data analytics. This trend necessitates extensive data processing capabilities, contributing to the growth of data centers. These facilities, in turn, require effective cooling solutions to manage the heat generated by high-performance computing systems, making cooling technologies an indispensable part of data center infrastructure.
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The global emphasis on sustainability has placed data centers under scrutiny for their substantial energy consumption and carbon footprint. Cooling systems, traditionally among the most energy-intensive components of data center operations, are now being reevaluated. The market is responding with innovative cooling solutions designed to minimise energy use and reduce environmental impact, aligning with broader goals for sustainability in the tech industry. This is one of the key global data centre cooling market trends.
The advent of advanced cooling technologies, including direct liquid cooling and immersive cooling, marks a significant shift in data center thermal management. These technologies offer superior efficiency and have the potential to significantly reduce the energy consumption associated with cooling. This is expected to lead to the global data centre market growth in the forecast period.
As data centers evolve to accommodate more powerful and compact computing hardware, these cooling solutions become increasingly vital to maintaining operational integrity and performance.
The global data center cooling market exhibits notable regional disparities, shaped by varying technological adoption rates, climate conditions, and regulatory landscapes. The US leads the market, driven by the presence of major technology firms, a strong focus on innovation, and stringent regulations on energy efficiency.
Marked by rigorous EU guidelines on data center energy consumption, Europe is swiftly adopting green cooling technologies, further stimulated by the region’s commitment to environmental sustainability.
Expected to witness rapid growth, the Asia Pacific data center cooling market benefits from escalating digitalisation efforts, particularly in countries like China and India, coupled with increasing investments in data center infrastructure.
The global data center cooling market is highly competitive, with key players focusing on technological innovation, strategic partnerships, and geographical expansion to consolidate their market positions. Companies such as Schneider Electric, Emerson Electric Co., and CoolIT Systems are at the forefront, offering a wide range of cooling solutions tailored to diverse data center needs.
As the backbone of the digital economy, data centers require efficient cooling systems to operate reliably and sustainably. The global data center cooling market, while facing challenges, is poised for substantial growth, fuelled by technological advancements, increasing data storage demands, and the imperative for energy efficiency. As the market evolves, stakeholders across the spectrum must navigate the complex landscape, leveraging opportunities to innovate and drive forward the adoption of sustainable cooling solutions.
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Market Segmentation
The market can be divided based on component, data centre size, type of cooling, application, and region.
Market Breakup by Component
• Solution
• Services
Market Breakup by Data Centre Size
• Large Data Centre
• Medium Data Centre
• Small Data Centre
Market Breakup by Type of Cooling
• Room-based Cooling
• Row/Rack-based Cooling
Market Breakup by Application
• Government
• BFSI
• IT and Telecom
• Healthcare
• Others
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global data centre cooling market. Some of the major players explored in the report by Expert Market Research are as follows:
• Schneider Electric SE.
• Johnson Controls International plc.
• Mitsubishi Electric Corporation.
• Daikin Industries Ltd.
• Fujitsu Limited.
• RITTAL GmbH & Co. KG.
• Asetek, Inc. A/S
• STULZ GmbH.
• Nortek Air Solutions, LLC.
• Vertiv Group Corp.
• Green Revolution Cooling Inc.
• LiquidStack B.V.
• Munters Group.
• Wakefield Thermal, Inc.
• Others
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