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Global Data Center Cooling Market Analysis 2024 – Estimated Market Size And Key Drivers

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Uday Kiran
Global Data Center Cooling Market Analysis 2024 – Estimated Market Size And Key Drivers

The Data Center Cooling Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).


Learn More On The Data Center Cooling Market:

https://www.thebusinessresearchcompany.com/report/data-center-cooling-global-market-report 

According to The Business Research Company’s Data Center Cooling Global Market Report 2024, The data center cooling market size has grown rapidly in recent years. It will grow from $14.66 billion in 2023 to $17.09 billion in 2024 at a compound annual growth rate (CAGR) of 16.6%. The growth in the historic period can be attributed to rapid growth in data centers, high-density computing, energy efficiency concerns, regulatory compliance, globalization of data storage, increased heat load per rack.

The data center cooling market size is expected to see rapid growth in the next few years. It will grow to $31.93 billion in 2028 at a compound annual growth rate (CAGR) of 16.9%. The growth in the forecast period can be attributed to renewable energy integration, focus on water conservation, heat recovery systems, modular data center solutions, integration of immersive cooling. Major trends in the forecast period include liquid cooling solutions, free cooling techniques, AI-driven cooling management, high-density cooling systems, edge data center cooling solutions, and cooling-as-a-service models.

Green initiatives for eco-friendly data center solutions are driving the growth of the data center cooling market. Data centers consume a lot of energy and hence are responding and are beginning to emerge as potent change agents, contributing significantly to the reduction of environmental impact. They're becoming more aware and strategic about how they run their facilities, from the energy they buy to how they cool the data center and everything in between. Commitments to novel green and renewable solutions, such as green electricity, water reclamation, zero water cooling systems, recycling, and waste management, are being used to build the most sustainable data centers. They don't have any outdated methods (such as fixed or underutilized servers) and make use of newer, more efficient technologies. According to Science Direct, the data center energy use might account for 2.13% of worldwide electricity supply by 2030. Moreover, in 2021, Microsoft implemented this technology in its Azure datacenters. A Microsoft Azure, eco-friendly data center is a one-of-a-kind physical structure with its power, cooling, and networking infrastructure that houses thousands of physical servers. Therefore, green initiatives for eco-friendly data center solutions are driving the data center cooling market growth.

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The data center cooling market covered in this report is segmented –

1) By Data Centre Type: Large Data Centers, Enterprise Data Centers, Mid-sized Data Centers

2) By Cooling Technology: Rack/Row-Based, Room-Based

3) By Component: Solution, Service

4) By Industry: Banking, Financial Services and Insurance (BFSI), Information Technology (IT) And Telecom, Research And Academic, Government And Defense, Retail, Energy, Manufacturing, Healthcare, Other Industries

Major companies operating in the data center cooling market are launching new technology such as immersion cooling technology to increase their profitability in the market. Immersion cooling technology in data center cooling involves submerging IT hardware components, such as servers and other electronic equipment, in a non-conductive liquid coolant to dissipate heat generated during operation. For instance, in September 2022, Dow Inc., a US-based material science company launched DOWSIL Immersion Cooling Technology. The data center cooling technology is focused on sustainability and efficiency and emphasizes single-phase cooling systems for simplicity and affordability. The DOWSIL Immersion Cooling Technology features the ICL-1000 Fluid, is designed to absorb heat exceptionally efficiently, with up to 95% decrease in the power required for server cooling and a 50% decrease in operational costs. This also aligns with Dow's 3-S obligation to sustainability, stability, and safety thus minimizes water usage compared to conventional cooling methods. As a silicone-organic hybrid fluid, it offers superior heat conduction, aiming to reduce a data center's energy consumption by 60% and enhance scalability across applications.

The data center cooling market report table of contents includes:

  1. Executive Summary
  2.    Center Cooling Market Characteristics
  3.    Center Cooling Market Trends And Strategies
  4.    Center Cooling Market - Macro Economic Scenario
  5. Global   Center Cooling Market Size and Growth

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  1. Global   Center Cooling Market Competitive Benchmarking
  2. Global   Center Cooling Market Competitive Dashboard
  3. Key Mergers And Acquisitions In   Center Cooling Market
  4.    Center Cooling Market Future Outlook and Potential Analysis
  5. Appendix

 

Top Major Players :

  • Hitachi Ltd.
  • Mitsubishi Electric Corporation
  • Schneider Electric SE
  • Fujitsu Limited
  • ABB Group


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