PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514952
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514952
Critical Power and Cooling Market size was valued at USD 27,154.2 Million in 2023, expanding at a CAGR of 8.90% from 2024 to 2032.
The critical power and cooling market is the industry segment that specializes in power and cooling solutions for critical infrastructure such as data centers, telecommunications facilities, healthcare facilities, and industrial sites. This market encompasses products and services that manage power supply, distribution, backup systems, and cooling solutions to maintain optimal operating conditions and avoid downtime in critical areas.
Critical Power and Cooling Market- Market Dynamics
Increasing Reliance on Digital Infrastructure and Data Centers
The critical power and cooling industry is expanding rapidly as a result of the increasing reliance on digital infrastructure and data centers across a wide range of industries. In today's digital age, businesses, governments, and organizations rely largely on data processing, storage, and seamless networking to ensure smooth operations. This reliance on digital technology has resulted in the rise of data centers, which include both large-scale and edge facilities, to manage the massive amounts of data generated and processed every day. As global data volume grows, data centers require reliable vital power and cooling solutions to maintain continuous operation and avoid costly downtime. The demand for high-performance, uninterruptible power supply (UPS) systems, precision cooling solutions, and advanced monitoring and management tools has increased dramatically. These solutions ensure that data centers can operate in a stable environment, protect sensitive equipment, and provide uninterrupted services, which is critical for industries such as finance, healthcare, e-commerce, and cloud computing.
Critical Power and Cooling Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.90% over the forecast period (2024-2032)
Based on Type segmentation, the generator category was responsible for the majority of the global critical power and cooling market in 2023.
Based on End-Use segmentation, in 2023, the commercial segment led the worldwide critical cooling and power market.
On the basis of region, North America was the leading revenue generator in 2023
The Global Critical Power and Cooling Market is segmented on the basis of Type, End-Use, and Region.
The market is divided into four categories based on Type: Uninterrupted power supply, Generators, Air conditioning, and Chilling units. During the projected period, the generator segment was responsible for the majority of the worldwide critical power and cooling market in 2023. Because of the growing demand for industrial control systems, data centers, industrial networks and communication, facility control systems, control rooms, and critical loads in a variety of industries, the generator category is expected to grow at the fastest rate in the global critical power and cooling market over the forecast period. Currently, global power demand is increasing at a noteworthy rate.
The market is divided into four categories based on End-Use: Industrial, Commercial, IT & Telecommunication and Transportation. In 2023, the commercial segment dominated the global critical cooling and power market. The commercial sector in the global critical power and cooling market is expected to increase profitably over the projected period, owing to the growth of data centers, hospitals, banks, financial services and insurance (BFSI), hotels, and restaurants, primarily in China and India. Demand for diesel generators is increasing due to the need for a reliable power backup source in commercial sectors such as hotels, hospitals, and companies.
Critical Power and Cooling Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. In 2023, the North American region dominated the market. North America is a major region in the global market due to increased demand for data centers and other commercial spaces, rising data processing power, and a growing need for information storage in countries such as the United States, Canada, and Mexico. The presence of top tech giants such as Amazon, Microsoft, Apple, and Google, which have massive power outages and data centers, as well as a sizable number of IT companies operating in Silicon Valley, which is observed as a worldwide hub for innovation, social media, and technology, is accelerating the growth of the global critical power and cooling industry in the region.
The Asia-Pacific Critical Power and Cooling Market is predicted to expand at the quickest CAGR between 2024 and 2032. This is due to the rising industry and recognition of the need of backup power and cooling solutions to protect the Region from data loss, hardware damage, and wasted time. Furthermore, China's Critical Power and Cooling market had the highest market share, while India's Critical Power and Cooling market was the fastest-growing in the Asia-Pacific region.
Major players in the Critical Power and Cooling market, including Schneider Electric, Eaton Corporation, Vertiv Co., and ABB Ltd., are seeking to boost market demand by investing in R&D operations. Market participants are also pursuing various strategic initiatives to broaden their presence, with significant market developments including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. The core power and cold market must value their products in order to grow and thrive in a more competitive and expanding business climate.
In February 2021, nVent is thrilled to announce the debut of two smart precision liquid cooling solutions designed to handle high heat loads and essential cooling requirements in data center computers, servers, and storage racks. When linked to a chilled water inlet temperature of 14°C, the chiller can provide precision-level cooling performance of up to 55KW.
GLOBAL CRITICAL POWER AND COOLING MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Schneider Electric
Eaton Corporation
Vertiv Co.
ABB Ltd.
Siemens AG
General Electric Company
Mitsubishi Electric Corporation
Cummins Inc.
Cyber Power Systems (USA), Inc.
Emerson Electric Co.
Rittal GmbH & Co. KG
Delta Electronics, Inc.
Tripp Lite
Huawei Technologies Co. Ltd.
Caterpillar Inc.
Johnson Controls International plc
Black Box Corporation
Legrand SA
STULZ GmbH
Socomec Group
Others