USD 26.2 billion
Report ID: SQSG20E2001 | Region: Global | Published Date: November, 2022 | Pages: 157
Global Critical Power and Cooling Market was valued at USD 26.2 billion in 2021, and it is expected to reach a value of USD 57.27 billion by 2028, at a CAGR of 11.54% over the forecast period (2022-2028).
Solutions for critical power and cooling guard against data loss, hardware damage, and downtime. They are also employed to maintain the infrastructure of electricity and data centers, as well as that of buildings, industries, and data security. These services are dependable and extend the useful life of the machinery. Critical power and cooling solutions also guarantee increased manageability and boost equipment performance and cooling effectiveness. Residential, commercial, and industrial sectors all use critical power and cooling solutions. The global market is anticipated to experience brisk growth over the forecast period due to factors such as the world's expanding population and economic development, rise in demand for heating and cooling among the population due to climate change, rising energy demand among residential, commercial, and public services, as well as the transportation sector.
The International Energy Agency (IEA) has stated in research that global energy consumption is expected to rise by 4.6 percent in 2021, more than offsetting the 4 percent decline in 2020 and boosting demand above 2019 levels. A rebound in demand would also increase carbon dioxide emissions connected to the energy sector by roughly 5% in 2021. The rise in coal consumption in the electricity industry is expected to cause a 1.5 billion tonne increase in global carbon emissions this year. This is a grave warning that the present Covid economic rebound is everything but environmentally sustainable.
Global Market Size
USD 26.2 billion
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Global critical power and cooling market is segmented based on the product, end user, and region. Based on type, the global market is segmented into critical power type (generators, uninterruptible power supply, others), critical cooling type (air conditioning, cooling tower, chiller, liquid cooling system, and others). Based on end-user, the market is segmented into, industrial, commercial, it & telecom, transportation, and others. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Type
In 2021, the generator segment held the largest share in the global critical power and cooling market during the forecast period. Due to the increasing need for data centers, industrial control systems, facility control systems, industrial networks and communication, control rooms, and critical loads in several sectors, the generator category is predicted to increase at the quickest rate in the global critical power and cooling market during the forecast period. Currently, the demand for power is rising at a noticeable rate around the world. Therefore, having a trustworthy supply of electricity has become crucial. The need for standby generator sets is also being driven by the rise in the frequency of natural disasters that cause power outages. For many sectors, a constant and uninterrupted supply of energy is of utmost importance. The demand for a continuous power supply in the construction sector is also opening new opportunities for the use of generator sets, which is driving the expansion of this market.
The availability of power is even more crucial now that developers are more willing to construct projects for inexpensive housing. By 2022, 20 million affordable housing units are expected to be built in India as part of the Housing for All plan. Consumer demand for cheap housing has skyrocketed as a result of the expanding employment prospects in cities. This increase will be fueled by large capacity generators. Due to the state's booming residential and commercial real estate industries, Karnataka is expected to have the fastest development in the demand for such systems in the upcoming years. For instance, the state of Karnataka will build 900,000 homes over the next several years while the government of India plans to invest $15.68 billion (INR 1.16 lakh crore) in infrastructure projects in the state.
Following this, the UPS segment is also expected to observe significant growth during the forecast period. The need for data centers in the United States has grown as a result of the expansion of data-related services as well as the expanding cloud computing and virtualization trends. Additionally, the projection period will see an increase in demand for UPS due to the number of data centers. Additionally, a number of data centers have plans to increase their presence in this area. Google has promised to invest nearly $7 billion in offices and data centers around the U.S. in 2021 for a variety of purposes, including expanding in certain towns across 19 states and investing in new ones. Similar to this, Microsoft has promised to spend over $200 million to construct 2 data centers in the United States by 2022. As a result, it is determined that these expansions will fuel the global critical power and cooling market growth between 2022 and 2028.
Analysis by End User
In 2021, the commercial segment held the largest share in the global critical cooling and power market. Due to an expansion of data centers, hospitals, banks, financial services and insurances (BFSI), hotels, and restaurants, mostly in nations like China and India, the commercial category is predicted to grow profitably throughout the projected period in the global critical power and cooling market. Demand for diesel generators is growing as a result of the requirement for a reliable power backup source from commercial sectors including hotels, hospitals, and businesses. Additionally, the market for diesel generators is expanding as a result of telecom firms' increased focus on providing high-speed services. The market is predicted to have considerable expansion through FY2028 due to rising investment in the telecom sector and rising installation of telephone towers for connectivity in rural places. For example, out of 100 percent, the FDI ceiling in the telecom industry has raised from 74 percent to 100 percent. The government announced 100% foreign direct investment (FDI) via the automatic route in the telecoms industry in October 2021, up from the prior 49.5%. According to power rating, the above-15 kVA category has had the highest share of the Indian generator market. These generators are frequently used by commercial complexes, residential buildings, restaurants, small industrial units, and telecom towers to supply supplementary electrical needs. The need for generators larger than 15 kVA will grow in tandem with the country's expansion in residential communities and business complexes.
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In 2021, the North American region held the largest share in the market. Due to the increased demand for data centers and other commercial spaces, the rising need for data processing power, and the developing need for information storage in nations like the United States, Canada, and Mexico, North America is one of the main regions in the global market. The growth of the global critical power and cooling industry in the area is being fueled by the presence of top tech giants like Amazon, Microsoft, Apple, and Google, which have massive power outages and data centers, as well as a sizable number of IT companies operating in Silicon Valley, which is regarded as a global hub for social media, innovation, and technology.
The local communities and economy in which Google's offices and data centers are located benefit from having these facilities as important anchors. Over the previous five years, they have made more than $37 billion in 26 states' worth of offices and data centers in the United States, resulting in the creation of over 40,000 full-time employees. Additionally, they spent about $40 billion on research and development in the United States in 2020 and 2021. They are currently announcing plans to spend over $9.5 billion on our headquarters and data centers in the United States in 2022. By the end of the year, they anticipate that these investments will contribute to the creation of at least 12,000 new full-time Google positions, as well as thousands more among their local suppliers, partners, and communities.
Due to the high rate of industrial growth in the region and growing awareness of the need for backup power and cooling solutions to ensure protection against data loss, hardware damage, and downtime, the market in the Asia Pacific is predicted to grow significantly during the forecast period. The increased demand for electricity across a number of end-use categories, including power plants, facilities, hospitals, banking, financial services, and institutions, is also anticipated to result in an increase in demand over the course of the forecast period.
For example, The Indian government has a wide range of programs to promote the growth of several industries in the upcoming years. Some of the important programs that might favor the expansion of electricity utilities and the development of industrial infrastructure verticals in the nation are the Make in India campaign, the creation of smart cities, the Saubhagya program, and housing for all by the year 2022. According to the Indian Ministry of Petroleum and Natural Gas, 6–8 percent of all diesel consumption was used to generate electricity through grid-connected diesel-based power plants with a capacity of more than 10 MW, captive diesel-based power plants, and diesel generator sets.
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The global critical power and cooling market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. For example, in conjunction with its Elite Data Center Partners, Schneider Electric, the industry pioneer in the digital transformation of energy management and automation, has opened a Center of Excellence for Edge Infrastructure in India. Through this innovative program, end users may go to the partners' locations and personally experience Schneider Electric's Edge Solutions. Mr. Pankaj Sharma, Executive Vice President - Secure Power Division, Schneider Electric, recently opened the second such Center of Excellence at Schneider Electric's Elite Partner, Central Data Systems, in Bangalore. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions.
Top Players in the Global Critical Power and Cooling Market
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According to our global critical power and cooling market analysis, in terms of type, the generators segment held the largest share in the global critical power and cooling market, this was due to the increasing need for data centers, industrial control systems, facility control systems, industrial networks and communication, control rooms, and critical loads in several sectors. Based on end-user, the commercial segment held the largest share in the global market, due to an expansion of data centers, hospitals, banks, financial services and insurances (BFSI), hotels, and restaurants, mostly in nations like China and India. And by region, the North American region held the largest share in the global market due to the increased demand for data centers and other commercial spaces, the rising need for data processing power, and the developing need for information storage in nations like the United States, Canada, and Mexico.
|Market size value in 2021||USD 26.2 billion|
|Market size value in 2028||USD 57.27 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Critical Power And Cooling Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Critical Power And Cooling Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG20E2001