USD 15.73 billion
Report ID:
SQMIG45I2119 |
Region:
Global |
Published Date: August, 2024
Pages:
197
|Tables:
122
|Figures:
77
Global Data Center Cooling Market size was valued at USD 13.56 Billion in 2022 and is poised to grow from USD 16.35 Billion in 2023 to USD 56.03 Billion by 2031, growing at a CAGR of 16.21% during the forecast period (2024-2031).
The increasing demand for energy efficient data centers is expected to provide lucrative growth opportunities for the market. Furthermore, the growth outlook can be attributed to the rapid increase in data production and subsequent rise in data centers demand globally. Data centers consume a lot of energy, generating a lot of heat, and necessitating that effective cooling equipment is obtained.
Additionally, the increasing popularity of OTT platforms and streaming services has dramatically increased the amount of data; which is expected to increase demand. This demand is directly proportional to the growth in the number of data center facilities worldwide. Increased spending on IT infrastructure after the pandemic is creating opportunities for new and existing data center facilities to expand worldwide. Moreover, software-based data centers are also contributing to the growth of the market by offering increased levels of automation.
Global Market Size
USD 15.73 billion
Largest Segment
Raised Floor with Containment
Fastest Growth
Raised Floor with Containment
Growth Rate
17.1% CAGR
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Global Data Center Cooling Market is segmented based Solution, Services, End-use Industry, Cooling, Data Center Type, and Region. Based on Solution, the market is segmented into Air Conditioning, Precision Air Conditioners, Chilling Units, Cooling Towers, Economizer Systems, Liquid Cooling Systems, Control Systems, and Others. Based on Services, the market is segmented into Consulting, Installation & Deployment, and Maintenance & Support. Based on End-use Industry, the market is segmented into BFSI, IT & Telecom, Research & Academic, Government & Defense, Retail, Manufacturing, Healthcare, Energy, and Others. Based on Cooling, the market is segmented into Rack/Row-Based Cooling, and Room-Based Cooling. Based on Data Center Type, the market is segmented into Mid-sized Data Centers, Enterprise Data Centers, and Large Data Centers. Based on region the global data center cooling market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Type
The non-raised floor segment accounted for the largest revenue share of around 52% in 2023. Non-raised flooring is important for modern inspection and integration of temperature monitoring systems. It can enable service providers to monitor temperatures internal changes on a real-time basis throughout the data center to identify and address problems. An increasing number of non-elevated flooring options are being offered to meet demands for sustainability and energy efficiency. Increases in materials science, design, and cooling technologies will reduce the harmful environmental impacts of data centers.
The raised segment is expected to witness the fastest CAGR from 2024 to 2031. Technological advancements are driving the market expansion for advanced floor data center cooling. Air conditioning system management in data centers is simplified by the adoption of raised floors. The underfloor chamber is used to implement various containment strategies, such as a mixture of hot and cold strategies. By blocking hot and normal airflow, strategic airflow control improves the overall efficiency of the cooling system. Integration of advanced technologies such as sensors and tracking systems is facilitated by a raised floor. In the data center cooling sector, this system provides dynamic management of the cooling tower infrastructure through real-time data on environmental conditions thus driving segment growth.
Analysis by Services
The installation & deployment segment led the market and accounted for the largest revenue share in 2023. The installation and operation of water heat extraction equipment can significantly impact capacity and pro-climate control programs and improve the segment. Additional refrigeration and fan installations are included with the service, making it easy to balance design and customization. Combined with optimization and strategic planning, cooling systems can operate without overheating and with minimal negative impact on the environment.
The maintenance service segment is expected to witness the highest CAGR from 2024 to 2031. The data center cooling and maintenance services segment enables companies to expand services, power consumption and storage rapidly. Schedule switching enables change in the maintenance service segment. It is expected to continue to see innovations in areas such as liquid cooling technologies and the increasing use of direct chip cooling methods for thermal efficiency.
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In 2023, North America led the global demand for data center cooling solutions and is expected to grow at an estimated CAGR of over 12.0% from 2024 to 2031. Facebook, Amazon Inc., and Google Inc. including data centers in this region, marked by the presence of numerous IT companies, which have developed strategies for the data center cooling solutions industry thus boosting the growth of the market in North America. Several large data center operators' technologies in North America, driven by rapid adoption of cloud services, increased data traffic and technological advances. There are also companies contributing to the demand for advanced cooling agents. Moreover, stringent regulations on energy efficiency and environmental sustainability are fueling the adoption of new cooling technologies in the region.
Asia-Pacific gain prominence from 2024 to 2031 as the usage of data center and cooling systems is expected to increase in the telecom sector. This can be attributed to the increasing number of employees for external IT infrastructure services that are business about critical information. The data center cooling market in China is expected to grow at a CAGR of 21.9% from 2024 to 2031. More data center operators across the country are expected to use intelligent power allocation and management systems though monitor, control and optimize. Moreover, advanced data center cooling solutions developed by Chinese companies are driving the market growth in China.
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Data Center Cooling Market Drivers
Rise in the Data Intensification
Rising Adoption of Cloud Services
Restraints
High Operating Costs
Environmental Concerns and Regulations
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The competitive landscape of the global data center cooling market is dominated by a mix of established tech giants and emerging players. Key players lead the market with extensive global networks, advanced technologies, and substantial financial resources. Equinix, a global leader in data center and colocation services, partnered with Google Cloud to enhance hybrid cloud solutions. This collaboration allows customers to seamlessly connect their on-premises infrastructure with Google Cloud’s services, offering increased flexibility and scalability. The partnership leverages Equinix’s extensive global data center network to provide low-latency connections and improved performance for Google Cloud users.
Top Player’s Company Profiles in Data Center Cooling Market
Data Center Cooling Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the market is evolving, as companies continue to invest in digital technologies. This is because many organizations are now shifting to the use of data centers in their business operations after realizing that business decisions, which are aptly informed by data, depend on the reliability of the data centers. Several significant factors prevail as the determining forces within the markets. The increase usage of cloud computing services is among the key factors that contribute to the adoption of hybrid cloud networks.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 13.56 Billion |
Market size value in 2031 | USD 56.03 Billion |
Growth Rate | 16.21% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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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) |
Companies covered |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Data Center 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 Data Center 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.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Data Center Cooling Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Data Center Cooling Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG45I2119