The new report by Expert Market Research titled, ‘Global Critical Power and Cooling Market Growth, Size, Demand, Report and Forecast 2023-2028’, gives an in-depth analysis of the global critical power and cooling market. The report examines the market based on its different segments like type, end use, and major regions.
Global Critical Power and Cooling Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 24.03 billion
• Forecast CAGR (2023-2028): 8.40%
• Forecast Market Size (2027): USD 39.08 billion
|Market Size in 2021||USD 24.03 billion|
|Revenue Forecast in 2027||USD 39.08 billion|
|Growth Rate CAGR||8.40%|
|Major Players||Schneider Electric SE, ABB Group, Eaton Corporation plc, Kehua Data Co., Ltd., and Socomec, among others|
Power and cooling systems find applications in the commercial, IT and telecommunication, industrial, transportation, and government and defence sectors. In recent times, to improve productivity, industrial companies heavily rely on sensitive computer-controlled manufacturing processes. Such systems need secure connections as well as protection from variations in electrical power quality to operate properly. Mission critical systems defend users from power interruptions and keep businesses connected to the grid.
Companies have developed reliable and efficient systems to provide quality air conditioning, humidification, ventilation, and cooling to meet various industrial needs. The expanding and developing data centre markets in North America and Asia Pacific, respectively, are assessed as providing an impetus to market growth.
Critical Power and Cooling Industry Definition and Major Segments
Critical power and cooling solutions are used to protect IT equipment in data centres, industries, small businesses, and residences. Examples of these include UPS, generators, chilling units, cooling towers, and liquid cooling systems, among others. These products can prevent financial losses, severe asset damage, and equipment downtime that can be caused due to loss of power and over-heating of devices.
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Based on type, the market is categorised into:
• Critical Power Type
• Cooling Solutions Type
o Chilling Units
o Cooling Towers
o Air Conditioners
o Liquid Cooling Systems
Based on end use, the market is segmented into:
• IT and Telecommunication
• Government and Defence
The major regional markets include:
• North America
• Latin America
• Middle East and Africa
Critical Power and Cooling Market Trends
The growing demand for data centres to store valuable data is necessitating the use of critical power and cooling solutions to ensure that this data is continually available. Continuous data centre operation can result in high temperatures that can damage servers, storage equipment, and hardware, thereby causing downtime. Manufacturers have developed cooling solutions to meet data centre challenges at affordable rates and have integrated advanced features such as chilled water, EC fans and VSD compressors. These cooling solutions are ideal for small, medium, and large data centre installations.
Data centres are responsible for protecting and maintaining crucial business and organisation data. They are hence expected to invest in quality UPS systems designed to maintain battery life and deliver emergency power supply. Critical power solutions are necessary to provide stable, reliable, and efficient power to data centres. Additionally, with the advancement of cloud, edge computing, IoT, and AI, the significance of data centres is multiplying, which is further expected to aid the market growth.
Key Market Players
Some major players in the market:
• Schneider Electric SE
• ABB Group
• Eaton Corporation plc
• Kehua Data Co., Ltd.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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