Data Center Cooling Market to grow at 11% CAGR to 2024

The services segment is expected to witness growth in the data center cooling market due to the demand from the customers to efficiently manage the facility and gain insights for better management. The maintenance service providers help in minimizing the maintenance of the underutilized equipment so that the Power Usage Effectiveness (PUE) can be lowered. They also carry out the inspection under the raised floor as most of the cooling equipment is kept there. This makes the operators more aware of any kind of potential issues such as rodent, water droppings, any loose floor foundations and openings in the surrounding walls. Moreover, these services are needed for the efficient management of the equipment and reduce the costs associated with equipment repair or failure. Efficient monitoring and management of tools can directly affect the data availability which makes the data center operators more inclined towards such services.

The colocation application segment is predicted to grow substantially in the data center cooling market due to high demand for scalability, price transparency and edge connectivity benefits offered by the facility. In addition, the ability to offer scaling of the capacity easily and lower the network latency will also fuel the industry demand. The BFSI application segment will grow at a significant rate in the data center cooling market due to the rising inclination of the consumers for online banking services resulting in rise in enormous amount of data to be managed, fueling the demand for more number of data center.

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Data center cooling is one of the primary challenges ahead for data center users, owing to the adverse effects of excess heat and high temperature on the performance and lifespan of date centers. In order to enhance operational performance, many organizations are deploying more blade servers, which however results in high electricity requirement. The rise in electricity and cooling demand not only hampers the productivity of data centers but also increases the cooling costs.

Traditionally, in order to construct a new data center, nearly 35% of overall expenditure should be invested on cooling equipment. In fact, the increasing usage of emerging technologies such as Internet of things (IoT) and AI are fueling the requirement of powerful and larger data centers. In this regard, many of the giants in data center cooling market including Black Box Corporation, Schneider Electric SE, Rittal GmbH & Co. KG, Nortek Air Solutions, AdaptivCOOL, and Airedale International Air Conditioning are investing heavily in research and development activities to develop efficient and cost-effective cooling technology.

The data center cooling market in Asia Pacific will observe high growth accredited to rising number of data centers in the region due to the increasing demand for digitalization due to the convenience offered. The facilities help in supporting the digitalization trend as it significantly reduces the carbon emissions and overall energy consumption. Many key players such as Equinix are investing to construct these facilities due to the long term economic prospects and the increasing penetration of the internet in the region. In addition, the flourishing telecommunication industry and the demand for the availability of critical data will fuel the data center cooling market growth in the region.

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Key players participating in the data center cooling market comprise Schneider Electric, Nortek Air Solutions, LLC, Rittal GmbH & Co. KG, Black Box Corporation, Airedale International Air Conditioning Ltd., and AdaptivCOOL. The industry is highly competitive in nature due to the presence of various established companies using technologically advanced cooling approaches. These companies are also working on enhancing the current range of products and new product development to remain prominent in the data center cooling market.

Glimpse of Table of Content (ToC)

Chapter 6. Data Center Cooling Market, By Application

6.1. Data center cooling market share, by application, 2016 & 2024

6.2. IT & Telecom

6.2.1. Market estimates and forecasts, 2013 – 2024

6.3. BFSI

6.3.1. Market estimates and forecasts, 2013 – 2024

6.4. Retail

6.4.1. Market estimates and forecasts, 2013 – 2024

6.5. Energy and utility

6.5.1. Market estimates and forecasts, 2013 – 2024

6.6. Healthcare

6.6.1. Market estimates and forecasts, 2013 – 2024

6.7. Colocation

6.7.1. Market estimates and forecasts, 2013 – 2024

6.8. Others

6.8.1. Market estimates and forecasts, 2013 – 2024

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