Critical power and cooling market to expand at a CAGR of 11.8% by 2030

During the forecast period, the critical power and cooling market is anticipated to expand at a CAGR of 11.8% during forecast period (2022-2030). The expansion of the market would be driven by an increase in the number of data centres and an improvement in cooling efficiency in data centres. For instance, Google said in November 2018 that it will spend USD 685 million to build a new data centre in Denmark that would be energy efficient. In a similar vein, Google would contribute USD 20 billion to Chile's data centre expansion. Such expenditures would encourage the expansion of vital cooling and electricity services in data centres, maintaining energy efficiency.

The expansion of network components and IT hardware puts a strain on the power and cooling density and can cause unforeseen issues like overheating, overloads, capacity issues, or even a loss of redundancy.

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Effectiveness of technologies to drive the Critical power and cooling market growth

The best method to assure an efficient use of power and cooling assets, forecast power and cooling demands, and reduce your total cost of ownership is to have the ability to measure, monitor, and regulate power and cooling assets in conjunction with capacity management software (TCO).

The ability to connect to your company's network and be accessed remotely is something that all modern electricity and cooling assets have in common. They do not, however, share the same degree of adherence to the ever-evolving network security standards of today. There must be a way to identify and limit who is permitted on the network and what access as more users demand access to data about power and cooling assets.

The development in digitalization and cloud computing are the primary reasons why it is predicted that the global market for critical power and cooling will expand rapidly over the forecast period. Siemens (Germany) is spending USD 175 million to increase the scope of its data centre digitalization services in the US. Data centres would become more effective as a result, driving the market for crucial power.

These older devices were only intended to perform their basic functions, and it's likely that they offer a TCP/IP connection for remote access requirements. Some of them may also have an open standard protocol, like SNMP, for sending alarms to your fault management platform at the network operations centre (NOC).

Unless they have a login demanding a user name and password, which is typically specified with "ADMIN," more current power and cooling devices won't have an embedded web server with few to no network security protocols or ways for authentication. Application, service, and IT network infrastructure governance are all handled by the IT department.

However, high installation costs and initial instalment costs are likely to challenge market growth for foreseeable future.

Environmental concerns coupled with government initiatives to impact market growth

The Critical power and cooling market is anticipated to expand as a result of an increase in the demand for effective and affordable data centres, green initiatives for eco-friendly data centre solutions, healthy expansion of businesses with data centres, and power density. Additionally, the growth of modular, containerized, and performance-optimized data centre (POD) facilities will increase demand in the North American market for data centre cooling systems.

Due to the expansion of hyperscale and colocation facilities with power capacities greater than 100 MW, the US dominated the North American data centre cooling industry. Market growth is anticipated to be accelerated by government efforts to reduce emissions of carbon dioxide from high power density installations. For instance, starting in August 2021, the US Environmental Protection Agency (EPA) will require data centres to meet energy efficiency goals that cut carbon dioxide emissions by 20%. About 30 to 60 percent of energy is consumed by data centre cooling systems, so industry participants are introducing innovative cooling technologies to preserve efficiency.

North America to hold significant market share

North America to held major share in the critical power and cooling market and is expected dominate the market over forecast period owing to presence of fevorable government policies supporting collings. Additionally, the presence of key players in the region is further driving growth of the market.

Due to the growing adoption of energy-efficient, environmentally friendly, and economically viable cooling solutions in accordance with various countries' strict environmental safety regulations, the critical power and cooling market share has expanded.

There are several significant participants in the fiercely competitive critical power and cooling sector in North America, some of which presently control the market. Market penetration is increasing as significant businesses are more prevalent.

The key players of global Critical Power and Cooling market are ABB, Schneider, Eaton Corporation, General Electric, Critical Power, Delta Electronic, Inc., Socomec, Xiamen Kehua Hengsheng Co.,Ltd., Daikin Industries,Ltd., Falcon Electric, Inc., Asetek A/S, Stulz GmbH, Johnson Controls, Inc., Siemens, Nortek Air Solutions, LLC, and SPX Corporation.