Data Center Cooling Market Growth Sturdy at 14% CAGR to Outstrip $25,552.2 Million by 2028 – COVID-19 Impact and Global Analysis by TheInsightPartners.com

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Pune, INDIA., Aug. 12, 2021 (GLOBE NEWSWIRE) — Data Center Cooling Market: Key Insights
According to our new research study on “Data Center Cooling Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Offering, Cooling Type, Data Center Type, Vertical, Component, and Geography,” the Data Center Cooling Market Size is projected to reach US$ 25,552.2 million by 2028 from US$ 10,217.0 million in 2021; it is expected to grow at a CAGR of 14.0% during 2021–2028.

Data Center Cooling Market: Competitive Landscape and Key Developments
Airedale Air Conditioning, Asetek Inc., Black Box Corporation, Carrier Corporation, Emerson Electric Co., Fujitsu Ltd., Hitachi Ltd., Modine Manufacturing Company, Nortek Air Solutions, Rittal GmbH, Schneider Electric, Stulz GmbH, and Trane and Vertiv Group Corp. are among the key players in the data center cooling market. The leading companies are focusing on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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In 2021, Vertiv partnered with GRC to offer a highly efficient liquid immersion cooling solution for high-density data centers and edge applications in India. The solution can support high-density loads of up to 100 kW per rack, utilizing warm water.

In 2020, Asetek, Inc. announced a collaboration with Hewlett Packard Enterprise (HPE) to deliver its data center liquid cooling solutions in HPE Apollo Systems. The solutions would enhance processor and interconnect performances by efficiently cooling high-density computing clusters.

The increasing demand for high computing performance, cloud services, Artificial Intelligence (AI), Internet of Things (IoT), and other digital transforming technologies in different industries as well as rise in number of data centers by enterprises operating in the server and storage segment are contributing to the data center cooling market proliferation. Surge in the number of data centers is attributed to the rising participation of enterprises in a consumption-based cloud services. Key players in the data center businesses are changing their sales strategies to allow consumers to pay on the basis of their consumption. This has resulted an increased demand for cloud services, which causes data centers to either expand their current setups or establish new data centers. Data centers are necessary for the industrial, institutional, commercial, renewable, and electric power sectors.

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The industrial sector includes IT and telecommunications; banking, financial services, and insurance (BFSI); manufacturing; and chemicals industries, among others. The institutional sector includes the healthcare, government and defense, education and research, transportation, and utilities, among others. Companies operating in these areas generate and store large data volumes. Moreover, they need to solve complex problems and perform tedious calculations that can be related to any natural phenomenon, such as climate change, space explorations, and weather forecasting. In such areas, IT professionals need to deal with financial and web data, applications, and databases that require high processing power along with enhanced performance, speed, and cooling efficiency. Such uninterrupted, high-tech functions also require servers with high storage capacities.

Data centers are among the largest consumers of electricity worldwide. According to the Natural Resources Defense Council (NRDC), the global data center industry accounts for 1.5–2.0% of global electricity consumption. These statistics are expected to increase further with the mounting application of cloud services, edge computing, IoT, artificial intelligence (AI), and other digital transformation technologies in many industries. However, high cooling costs in data centers account for a considerable portion of the total energy consumption in the data centers, which poses a challenge of high cost associated with energy consumption. Hence, the owners of data centers are keen on addressing the cost issues by deploying economical and effective cooling solutions. Large data centers have been able to curb operational and capital cooling expenses using chiller-less data centers that use outer air for cooling function. Similarly, the evaporative method, which is also known as cooling tower, is becoming popular among data centers as it controls temperature by exposing warm air to water. A cooling tower is generally used to bring down the temperature of a water stream by removing heat from it and discharging it into the atmosphere. This system is extremely energy-efficient, but it requires water in large volumes. Data center cooling solutions such as economizers take advantage of climatic conditions for cooling the data centers, thereby lowering the energy and cooling costs. Such developments are boosting the use of data center cooling solutions.

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The COVID-19 pandemic has been affecting every business globally since December 2019. The continuous growth in the number of cases compelled governments to put a bar on transportation of humans and goods. The manufacturing sector witnessed severe losses due to temporary factory shutdowns and low production volumes, which hindered the growth of electronics & semiconductor, automotive, and retail sectors. Additionally, the social or physical distancing measures imposed by governments put limitations on the operations of logistics and other service providers. This disruption resulted in lowered performance of the data center cooling solution market in 2020.

Data Center Cooling market: Data Center Type Overview
Based on data center type, the data center cooling market is segmented into enterprise, colocation, wholesale, and hyperscale data centers. The enterprise segment held the largest market share in 2020. The enterprise data centers are the facilities that are owned and operated by the companies; they are usually built on site. Enterprise data centers consist of at least 10 Cabinets upward and they can be as enormous as 40MW+. They may have specific sub-sections dedicated to separate sections of businesses. The enterprise data centers mostly outsource the maintenance for monitoring and evaluation. These data centers may be associated with other companies on the initial fit-outs and the installation of network prior to being maintained internally.

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