NEWARK, Del, Feb. 12, 2024 (GLOBE NEWSWIRE) -- The critical power and cooling market is estimated to be worth US$ 26.2 billion in 2024 and is projected to be valued at US$ 82 billion in 2034. Between 2024 and 2034, the industry is expected to rise at a CAGR of 12.1%. The rising adoption of digital services, cloud computing, and big data analytics has triggered a substantial rise in both the quantity and scale of data centers. With the continuous expansion of these data facilities, there is a heightened need for resilient critical power and cooling solutions.
This demand is driven by the imperative to maintain uninterrupted operations, safeguard against potential data loss, and ensure the reliability of essential infrastructure as data centers play a pivotal role in supporting modern technological ecosystems. The growing dependence on digital processes and data-centric decision-making has heightened the financial repercussions of downtime for businesses. Sustaining uninterrupted power and ensuring optimal temperature levels are paramount to preventing disruptions, minimizing the adverse effects of downtime on productivity, and safeguarding revenue streams.
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Various sectors, including finance, healthcare, manufacturing, and government, are undergoing digital transformation. This involves the adoption of advanced technologies that require robust IT infrastructure, contributing to the demand for critical power and cooling solutions. The adoption of Internet of Things (IoT) devices and the expansion of 5G networks significantly fuel the demand for facilities dedicated to data processing and storage. The prevalence of these interconnected technologies underscores the imperative for robust power and cooling infrastructure to ensure the resilience and optimal performance of these critical facilities.
Rising awareness of cybersecurity threats has prompted a dedicated emphasis on fortifying critical infrastructure, encompassing power and cooling systems. Investments directed towards secure and resilient solutions play a pivotal role in driving the overall demand within the market.
Key Takeaways from the Market Study
- From 2019 to 2023, the critical power and cooling market expanded at a CAGR of 15.2%.
- Based on type, the uninterrupted power supply segment is expected to rise at a CAGR of 11.8% from 2024 to 2034.
- The critical power and cooling market demand in China is predicted to grow at a CAGR of 13.1% through 2034.
- In the United States, the critical power and cooling market industry is estimated to register a CAGR of 12.4% from 2024 to 2034.
- The United Kingdom is projected to expand by a value CAGR of 13.5% between 2024 and 2034.
- The critical power and cooling market in Japan is anticipated to record a CAGR of 10.9% during 2034.
“The critical power and cooling market is being propelled by growing data center industry and growing renewable energy integration,” opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI)
Competitive Landscape
The leading players are forming partnerships with other technology providers to create comprehensive solutions that integrate critical power and cooling with other data center infrastructure components. Collaborating with industry leaders to enhance product portfolios and jointly address market challenges.
- General Electric (GE) - A multinational conglomerate with interests in aviation, healthcare, power, and renewable energy. Provides critical power solutions, including UPS systems, power distribution, and monitoring solutions.
- Eaton Corporation - A global power management company. Offers a wide range of critical power solutions, including UPS systems, power distribution, and control products.
- Delta Electronics - A Taiwanese multinational company specializing in power and thermal management solutions. Provides UPS systems, precision cooling solutions, and renewable energy products.
Top 10 Key Players in the Critical Power and Cooling Market
- Schneider Electric
- ABB
- General Electric
- Eaton Corporation
- Delta Electronics
- Socomec Group
- Falcon Electric Inc.
- Daikin Industries
- Stulz Group
- Vertiv
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More Valuable Insights Available
Future Market Insights offers an unbiased global critical power and cooling market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034
To understand opportunities in the critical power and cooling industry, the industry is segmented based on type (Uninterrupted Power Supply, Generators, Air Conditioning, Chilling Units) by application (industrial, Commercial, IT & Telecommunication, Transportation) and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East and Africa).
Critical Power and Cooling Market - Key Segments
By Type:
- Uninterrupted power supply
- Generators
- Air conditioning
- Chilling units
By End-Use:
- Industrial
- Commercial
- IT & Telecommunication
- Transportation
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and the Pacific
- East Asia
- Middle East and Africa
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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