-- The critical power and cooling market is expected to grow from an estimated USD 16.87 billion in 2016 to USD 25.80 billion by 2021, at a CAGR of 8.88%, from 2016 to 2021. A rise in digitalization and cloud computing leading to an increase in demand for data centers, increasing demand for improved cooling efficiency in data centers, a need to reduce anomalies in power supply, and regulations and initiatives by institutes and associations are the prime factors driving the critical power and cooling market.
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A majority of the demand for critical power and cooling comes from data centers. Data centers are a vital application for critical power and cooling solutions. Key suppliers in the cooling solutions market are focusing on providing data center cooling modules as per applications. These data center cooling modules or facility modules are pre-engineered, pre-tested, and pre-integrated physical infrastructure systems that operate as plug-in modules to a data center site. In addition, data center cooling modules provide additional cost savings of up to 30% and are 60% faster to operate. Data center cooling modules offer benefits such as simplified planning, improved reliability, agility, faster deployment, and improved overall efficiency. Owing to these benefits, data center cooling vendors are expected to find opportunities in the development and deployment of data center cooling modules to gain a competitive advantage in the data center cooling market. These advancements in data center cooling solutions will further enhance data center facilities. These will enhance the demand for data centers and, hence, increase the need for critical power and cooling market.
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In terms of the market, by end-user, the industrial segment of the critical power market and the IT and telecommunication segment of the cooling market are projected to grow at the fastest pace during the forecast period. The critical resource management systems of manufacturing companies, such as sales and distribution, financial controlling, and supply chain management, require energy efficient data centers for storage. Thus, enterprises are focused on advanced technologies that enable benefits such as agility, scalability, and reliability. The increasing use of virtualization and cloud computing at manufacturing enterprises increases dependence on data centers, which, in turn, is expected to boost the critical power and cooling market.
The generator segment is estimated to be fastest growing as a result of the rising demand for data centers, industrial control systems, facility control systems, industrial networks and communication, control rooms, and critical loads in several industries. The liquid cooling systems segment is growing at the fastest rate. Data centers, servers, electronic and manufacturing units, and medical equipment, such as MRIs and other imaging equipment, require high levels of uninterrupted power supply and, thus, would generate significant demand for liquid cooling system solutions, during the forecast period.
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Asia-Pacific is expected to be the fastest growing segment of the critical power and cooling market, by region, during the forecast period. The Asia-Pacific region has a high industrial growth rate, which has led to an increase in the need for power generation and data storage. This need for power at various power plants, facilities, and hospitals, among other institutions, will boost the demand for critical power and cooling in the region.
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