Critical Power and Cooling Market Size was valued at USD 20.5 billion in 2022. The Critical Power and Cooling market industry is projected to grow from USD 22.92 Billion in 2023 to USD 55.94 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.80% during the forecast period (2023 - 2032). Increasing the number of data centers and improving cooling efficiency in data centers are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The increasing number of data centers for cloud computing and digitalization will augment the market growth during the forecast period. The market would also benefit from the enhanced need for power in various end-use sectors, such as hospitals, facilities, financial services and institutions, banking, and power plants. The critical power supply and cooling system industry is predicted to enhance due to the rising demand for better cooling efficiency in data centers, a need to decrease power supply anomalies, and regulations and initiatives by institutes and associations. Huge investment prices and environmental and health risks hamper the critical power supply and cooling sector. This factor drives Market CAGR.
Additionally, the growing need for improved cooling in data centers, digitization, and greater use of cloud computing should drive the evolution of key energy and solution business issues during the forecast period. Digitization and the growth of cloud computing drive data center construction during the forecast period. Growing need for critical power and cooling solutions during the forecast period. In addition, the increasing demand for power generation and data storage in the Asia Pacific due to economic growth and awareness of energy storage demand will need cooling solutions to strengthen and protect the main power and cooling market during the forecast period: hardware damage, data loss, and downtime. Thus, driving the Critical Power and Cooling market revenue.
Based on type, the Critical Power and Cooling market segmentation includes uninterrupted power supply, generators, air conditioning, and chilling units. The uninterrupted power supply segment dominated the market due to the ongoing evolution in the industrial and commercial sector that requires a reliable and uninterrupted power supply. However, chilling units was the fastest-growing category in 2022 and will continue over the forecast period due to its cost-effectiveness.
Based on end-use, the Critical Power and Cooling market segmentation include industrial, commercial, IT & Telecommunication, and transportation. The industrial segment dominated the market due to the industrial sector's increased adoption of critical power supply and cooling.
Figure 1: Critical Power and Cooling Market, by End-Use, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Segmented by Region, the study provides market insights for North America, Europe, Asia Pacific, and the rest of the world. North America's core energy and refrigeration market segment will lead, with tech companies like Amazon, Microsoft, Apple, and Google being the big influence and storage facilities paper.
In addition, major countries examined in the report market include the United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Critical Power And Cooling Market Share By Region 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's main power and cooling market accounted for the second largest market share, driven by increased demand from data centers and other business sectors and growing demand for computing capabilities. Further, the German Critical Power and Cooling market witnessed the largest market share, and the UK Critical Power and Cooling market was the fastest-growing market in the European Region.
The Asia-Pacific Critical Power and Cooling Market are expected to grow at the fastest CAGR from 2023 to 2032. This is due to the growing market and awareness of the need for backup power and cooling solutions to protect the Region from data loss, hardware damage and wasted time. Moreover, China’s Critical Power and Cooling market held the largest market share, and the Indian Critical Power and Cooling market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Critical Power and Cooling market grow even more. Market participants are also undertaking different strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The core power and cold market must value the products to expand and survive in a more competitive and increasing business environment.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Critical Power and Cooling industry to benefit clients and increase the market sector. In recent years, the Critical Power and Cooling industry has offered some of the most significant advantages to medicine. Major players in the Critical Power and Cooling market, including Schneider, ABB, General Electric, Eaton Corporation, Delta Electronic, Inc., and Critical Power., are attempting to increase market demand by investing in research and development operations.
nVent is a leader in enclosures, electric heat-tracing solutions, complete heat-management systems, and electrical and fastening solutions nVent is pleased to announce the new launching of its two smart precision liquid cooling platforms to handle high heat loads and critical cooling requirements of data center computing, server, and storage racks. In a row, the chiller can deliver precision-level cooling performance up to 55 KW when connected to the chilled water inlet temperature of 14°C.
STULZ is the leader in precision air conditioning for data centers, intelligent air handling units for industrial and commercial segments, intelligent compact server rooms, and other indoor climate customization products for critical applications in which very high air quality and reliability levels are essential. Sudlows is pleased to announce that it secured a multimillion-pound contract from communication provider Telefonica UK to design and upgrade the existing UPS system with a range of modern UPS operations for energy savings.
February 2019: nVent is pleased to announce the new launching of its two smart precision liquid cooling platforms to handle high heat loads and critical cooling requirements of data center computing, server, and storage racks. In the row, the chiller can deliver precision level cooling performance up to 55KW when connected to the chilled water inlet temperature of 14°C.
September 2018: STULZ and Cloud & Heat are planning a collaboration with the first joint products where Cloud & Heat will present a new waste electricity concept. With the help of its international expansion, STULZ will expand its services and sales to cloud and heating.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 20.5 billion |
| Market Size 2023 | USD 22.92 Billion |
| Market Size 2032 | USD 55.94 billion |
| Compound Annual Growth Rate (CAGR) | 11.80% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End-Use, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | USA, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â Schneider, ABB, General Electric, Eaton Corporation, Delta Electronic, Inc., and Critical Power |
| Key Market Opportunities | The growing popularity of digitalization and cloud computing |
| Key Market Dynamics | The increasing number of data centers augmenting the market growth |
Critical power cooling Market Highlights:
Frequently Asked Questions (FAQ) :
The Critical Power and Cooling market size was anticipated at USD 20.5 billion in 2022.
The market is growing at a CAGR of 11.80% during the forecast period, 2023-2032.
North America had the largest share of the market
The major players in the market are Schneider, ABB, General Electric, Eaton Corporation, Delta Electronic, Inc., and Critical Power.
The Uninterrupted power supplyCritical Power and Cooling category dominated the market in 2022.
The Industrial had the largest share of the market.
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
