The global data center cooling
market is expected to reach USD 17.78 billion by 2024, according to a new study
by Grand View Research, Inc. The rise in the number of data centers on account
of the surge in demand for cooling solutions across the IT & telecom,
retail, BFSI, healthcare, and energy sectors is the key factor expected to
catapult the data center cooling market. Big data and cloud computing
proliferation are also projected to impact the industry demand positively over
the forecast period.
The emergence of new data
centers has played a pivotal role in driving the demand for cooling solutions.
Further, the need for efficient solutions is of paramount importance to ensure
proper server functioning and to eliminate system downtime. High data volume combined
with the rise in the number of enterprises moving towards cloud computing is
also expected to impel market growth over the forecast period. Technological
advancements and the development of energy-efficient systems are rising as
traditional cooling systems incur high operational costs owing to the increased
power consumption.
In depth research report on Data Center Cooling Market
Further key findings from the study suggest:
·
In 2015, precision air
conditioners accounted for over 20% of the overall data center cooling market.
These products offer benefits including continuous operation, precise humidity
control and better air distribution while automatically controlling individual
AC loads for efficient cooling.
·
The continuous operation of
chillers is vital to the functioning of data centers due to the extensive heat
produced by many servers functioning close to one another. The segment captured
over 10% of the market in 2015; however, chillers consume more energy than
other products and are expected to witness a moderate growth over the forecast
period.
·
The telecom segment accounted
for over 20% of the overall revenue share. The telecom providers are expected
to invest heavily over the next eight years due to a rise in the number of
Internet subscribers and the growing need for wireless communication. The
telecom growth is primarily data-driven, which subsequently will instigate the
demand for the data center infrastructure development.
·
The rise in the data center
densities is a primary factor expected to drive the need for efficient cooling
technologies. The North American market captured over 35% of the overall
revenue in 2015; however, over the forecast period, the region is anticipated
to witness a moderate growth in comparison to the other regions. Asia Pacific
led by Southeast Asian countries is projected to witness a robust growth on
account of the growing data center infrastructure.
·
The industry is consolidated in
nature with the presence of few big players including Asetek, KyotoCooling,
Climaveneta (Mitsubishi Electric), Air Enterprises, Rittal GmbH & Co. KG,
and Schneider Electric. The cooling solution providers primarily focus on a
strategic alliance with local cooling product providers as a part of their
marketing strategy.
Grand View Research has segmented the global data center
cooling market on the basis of product, application, and region:
Data Center Cooling Product Outlook (Revenue, USD Million,
2013 - 2024)
·
Air conditioners
·
Precision air conditioners
·
Chillers
·
Air handling units
Data Center Cooling Application Outlook (Revenue, USD
Million, 2013 - 2024)
·
Telecom & IT
·
Retail
·
Healthcare
·
BFSI
·
Energy
·
Others
Data Center Cooling Regional Outlook (Revenue, USD
Million, 2012 - 2022)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
o
Nordic Countries
·
Asia Pacific
o
China
o
India
o
Japan
o
Southeast Asia
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market intelligence
studies ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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