Global Critical Power and Cooling Market
Global industry is expected to grow faster than ever before due to new technologies and various key industry players choosing multiple business tactics to expand globally by 2030.
Government policies and various regulations are playing vital role in this industry. Regional market growth is outstanding post pandemic. Some drivers and trends are helping the industry to grow at a high CAGR during forecast period 2023-2030.
The Critical Power and Cooling Market share to reach approximately USD 53,101.8 Million, registering a CAGR of 11.8% from 2022 to 2030.
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Global Critical Power and Cooling Solutions Market Segmentation
The global critical power and cooling solutions market has been segmented based on type and end-use.
By type, the critical power market and cooling market has been segmented into uninterrupted power supply (UPS), generators, and others. The other segment includes converters, power transfer switching, inverters, transfer switches, breaker transfer pairs, and generator paralleling breakers. The UPS segment is estimated account for the largest share of the market over the forecast period. The growth of the segment can be attributed to rapid industrialization in the APAC region.
By end-use, the critical power and cooling market has been segmented into Industrial, commercial, IT Telecommunication, Telecom, and Transportation. The commercial segment is anticipated to capture the highest CAGR over the forecast period due to the rise in the number of data centers, banks, hotels, and other commercial properties.
Regional Analysis
Region-wise, the critical power and cooling market has been segmented into North America, South America, the Middle East Africa (MEA), Europe, and Asia Pacific (APAC).
North America is the dominant critical power and cooling market. The augmenting demand for data centers and the presence of power-sensitive industries where power and cooling are critical requirements for the proper functioning of various industrial processes is boosting the demand for critical power and cooling. The market is rapidly expanding in commercial areas of the region such as the US, Mexico, and Canada. Moreover, high investments in the construction of data centers by technology giants is likely to foster market growth.
Rapid industrialization in the APAC region has opened growth avenues for the critical power and cooling market. The consolidation of the IT industry is a critical growth enhancer since they generate demand for critical power and cooling from data centers. Heightened demand from end-use industries in the region such as power generation, petrochemical, oil gas, and others are contributing to the market growth. China, India, and Indonesia are the key contributors to the APAC market.
Industry Updates
June 2019 - CoolIT Systems, a company specializing in CPU, GPU and Memory liquid cooling for data centers, servers, and PCs, is bringing its latest Rack DLC solutions for HPC, Cloud, and AI data centers and servers to the market. CoolIT’s Rack DLC features integrated critical power, rack security, and Direct Liquid Cooling connections.
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Competitive Landscape
Stulz GmbH, Asetek A/S, Eaton Corporation, Nortek Air Solutions, LLC, Critical Power, Falcon Electric, Inc., Delta Electronic, Inc., Xiamen Kehua Hengsheng Co., Ltd., SPX Corporation, Johnson Controls, Inc., Socomec, Schneider, Siemens, Daikin Industries,Ltd., General Electric, and ABB are the key players in the critical power and cooling market.
