New York, US, Jan. 31, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Data Center Cooling Market: By Components, By Cooling Type, By Service, By Organization Size, Forecast till 2030”, the market is predicted to thrive substantially during the assessment era from 2020 to 2030 at a healthy CAGR of approximately 10.31% to attain a valuation of around USD 24.86 Billion by the end of 2030.

Data Center Cooling Market Overview:

The data center cooling market is growing continually. Due to the rising data center economy, environmental controls like cooling, humidity, and others are becoming a high priority. Moreover, the increasing demand for adequate cooling to enable steady performances of buildings, industries, and power & data center infrastructures escalate the data center cooling market value.

Substantial investments in the development of energy-efficient coolers boost the market size. With rising numbers of data centers worldwide, the market is estimated to witness rapid revenue growth during the current decade.

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Key Players:

Players leading the global data center cooling market include

• Asetek A/S (Denmark)
• Fujitsu Ltd. (Japan)
• The Mitsubishi Group (Japan)
• Rittal GmbH & Co. KG (Germany)
• Schneider Electric SE (France)
• Hitachi Ltd. (Japan)
• 3M (US)
• 4energy (UK)
• Degree Controls (US)
• HP Development Company LP (US)
• Wakefield-Vette Inc. (US)
• The Heico Companies LLC (US)
• IT Aire Inc. (US)
• Vertiv Co. (US)
• Cloudsite Intelligent Data Centers (US)

Report Scope:

Report Metrics	Details
Market Size by 2030	USD 24.86 Billion
CAGR during 2022-2030	10.31%
Base Year	2019
Forecast	2020-2030
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Market Opportunities	Rise in the construction of data centers globally, the demand for cooling solutions is also gaining pace

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Industry Trends:

In the data center industry, reliable cooling systems are crucial to enhance the life of the equipment. Data center cooling solutions and services increase energy efficiency in data centers. The spurring growth in IT & telecom industries push the data center cooling market revenues. Besides, the rapid digitization of data centers and advances in data center digitalization and cloud computing foster the growth of the market.

On the flip side, high initial investments required for developing data center cooling systems are major factors projected to impede market growth. Nevertheless, increasing technological upgrades would support market growth throughout the forecast period, presenting cost-competitive manufacturing techniques that can reduce the overall cost of components & systems. 

Market Segments:

The data center cooling market report is segmented into cooling types, cooling techniques, services, organization size, and regions. The cooling type segment is sub-segmented into chillers, economizers, server cooling, and others. The cooling technique segment is sub-segmented into dual feed cooling systems, air-based, liquid-based, free cooling, and others. 

The service segment is sub-segmented into professional service, managed service, and others. The organize size segment is sub-segmented into SMEs and large enterprises. Further, the region segment is sub-segmented into Europe, the Americas, Asia-Pacific, and rest-of-the-world.

Regional Analysis:

North America dominates the global data center cooling market. The largest market share attributes to the increasing demand for data centers and other commercial areas in the US, Canada, and Mexico. Besides, the strong presence of notable players, technology development centers, and data centers in the region drive the growth of the market. Moreover, substantial investments in data center cooling sectors boost the development of the regional market. 

The data center cooling market in the Asia Pacific region is growing steadily. Factors such as the continuous growth across end-user industries and the presence of industry players boost the market growth. Additionally, the rising industrialization and urbanization in the region influence the regional market's growth. Furthermore, increasing awareness of energy-efficient products that can reduce the overall energy cost substantiates the growth of the regional market. 

Emerging APAC countries, such as India, China, and Indonesia, hold considerable shares in the regional market, witnessing high demand from end-users such as power generation, petrochemical, oil & gas, and others. The APAC data center cooling market is poised to create a substantial revenue pocket during the assessment period. 

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The highly competitive data center cooling market appears fragmented due to the presence of a number of well-established players. Players incorporate strategic initiatives such as collaboration, acquisition, partnership, product & technology launch, and expansion to gain a larger competitive share. 

Players also focus on new product development initiatives and geographical expansion. They make substantial R&D investments in developing a technology entirely on a different level compared to their competition. The market is predicted to witness relentless innovations and new products that will eventually result in intense competition among climate control system manufacturers.

Multinational companies look to partner with companies involved in building technologies, safety, and productivity solutions, making data centers more efficient and reliable with reduced emissions. Such partnerships promise integrated micro-grid power management systems, making data centers more efficient and reliable while decreasing their emissions.

For instance, on Jan. 05, 2023, Lubrizol and iXora announced their partnership to provide state-of-the-art immersion cooling systems in data centers. Lubrizol's immersion cooling ecosystem is a turn-key, circular solution using CompuZol immersion fluid to provide rack-mountable, silent immersion cooling solutions in data centers.

Data centers are primarily cooled by inefficient, expensive air conditioners that consume unnecessary energy. The new Lubrizol solution addresses the limitations posed by air-cooled methods, enabling superior thermal management and more infrastructure density. iXora's rack-mountable, silent immersive cooling technology is well-suited for Lubrizol's immersion-cooled ecosystem solution.

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On Jan. 03, 2023, M&M Carnot Refrigeration, a leading manufacturer of natural refrigerant-based HVAC&R equipment in the US and Canada, launched higher capacity CO2-based cooling units for data centers. The company plans to boost the capacity of its CO2 (R744)-based Aquilon and Cumulus data center cooling units.

In another instance, on Jan. 11, 2023, ASUS, a leading provider of server systems & motherboards, and workstations, launched data center and liquid cooling server solutions with 4th Gen Intel Xeon Scalable Processors. 

The new best-in-class server solutions powered by the latest Intel Xeon Scalable processors also support the Intel Xeon Max CPU series designed to improve memory-bandwidth-sensitive applications' performance. The new servers support a range of modern workloads, including AI, analytics, graphic-intensive applications, ML, Virtual Desktop Infrastructure (VDI), high-performance computing (HPC), and virtualization.

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