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Data Center Cooling Market Brief Forecast, Covid-19 Analysis, and Analysis by Top Key Players to 2023

Data Center Cooling

iCrowdNewswire   Jan 8, 2021  4:03 PM ET

Market Research Future (MRFR) estimates the value of the Data Center Cooling Market 2020 to be USD 17 Billion by 2023. It also predicts that the market can advance at a robust rate of 14% from 2018 to 2023 (review period).
Growth Boosters and Key Barriers
Datacenter operators make extensive use of cooling systems for ensuring that the temperature stays within the acceptable level across data centers. Data centers operate throughout the day, efficiently handling massive amounts of data. The cooling system helps dissipate the heat energy within data processing, preventing the damage that can be caused due to the overheating of the equipment.
Datacenter cooling is increasingly gaining favor among data center operators owing to its eco-friendly properties, cost-effectiveness as well as energy efficiency. Data centers have increased in number across the world, in conjunction with the rising use of 4G LTE networks. Thus, with the mounting number of data centers, the demand for data center cooling solutions is also expected to soar, given the need to bring down the overall IT cost in data centers.
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The advent of cloud computing along with the surge in the initiatives by government to boost the deployment of cloud technology is also working in favor of the worldwide market. For instance, the UAE government recently set up numerous projects, which include Smart Abu Dhabi and Smart Dubai. These projects are aimed at driving digital transformation as well as economic growth in the area. These types of government-backed initiatives can be a significant growth booster in the global market for data center cooling systems.
Industry Trends
The current scenario of deteriorating environment health has prompted companies to opt for sustainable cooling. The latter has the capacity to save close to 80% or more of the total cooling energy costs. To cite an instance, the North Carolina data center facility belonging to Apple functions entirely on eco-friendly, sustainable power sources for cooling the data center. This is achieved via the use of free-air cooling technique, which allows the chillers to remain shut at least 75% of the time.
Furthermore, the mounting pressure from various government agencies, the general public and environmentalists also compels the companies to take green initiatives. Thus, the heightened demand for eco-friendly solutions can propel the growth of the data center cooling systems market.
Market Segmentation
Regional Insight
With respect to region, the data center cooling market segmentation covers North America, Asia Pacific (APAC), Europe, and the rest of the world (RoW).
Given the technological developments along with the favorable economic conditions, North America leads the global market for data center cooling. Businesses here are increasingly deploying eco-friendly and cost-effective cooling solutions, which fosters the market growth. Also, considerable interest in research and development (R&D) among private sectors to facilitate advancements in data center cooling can be a major growth inducer in the regional market.
APAC can expand at the fastest pace in the global market, with the growth primarily backed by factors like increasing ownership of smartphones as well as IoT backed consumer electronics. The soaring demand for energy efficient and affordable solutions across different industries also benefits the regional industry. Reports confirm that the number of data centers of the SME in China crossed 400,000, and the yearly power demand has touched 100 billion kWh for every data center. Moreover, the escalating demand for liquid cooling systems in data centers encourages the global vendors to make heavy investments in the Japanese market for data center cooling systems.
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Leading Vendors
Hitachi, Ltd. (Japan), Schneider Electric SE (France), Rittal GmbH & Co. KG (Germany), The Mitsubishi Group (Japan), Asetek A/S (Denmark), 4energy (UK), 3M (US), Degree Controls (US), The Heico Companies LLC (US), Fujitsu, Ltd. (Japan), Vertiv Co. (US), IT Aire, Inc. (US), Wakefield-Vette, Inc. (US), Cloudsite Intelligent Data Centers (US), HP Development Company L.P. (US), are the major industry participants listed in the report.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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