Forecast: Data Center Cooling Market to Grow at 13.8% CAGR Over the Next five Years

2024: Modine announced its acquisition of the intellectual property and distinct assets of TMG Core for the expansion of its data center cooling business on a large scale. TMG Core specializes in single- and two-phase liquid immersion cooling technology tailored for data centers with demanding high-density computing needs.

According to MarkNtel Advisors study, The Global Data Center Cooling Market size was valued at USD 12.35 billion in 2023 and is estimated to grow at a CAGR of around 13.8% during the forecast period, i.e., 2024-30.

A notable trend shaping the data center cooling industry is the increasing emphasis on energy efficiency and the uptake of hybrid cooling solutions. Operators are prioritizing cost reduction and environmental sustainability, driving the adoption of eco-friendlier technologies. Hybrid strategies, which blend conventional air cooling methods with innovative liquid-based systems, are gaining traction for their ability to strike a balance between cost-effectiveness and sustainability. This trend towards efficient alternatives not only ensures continuous market expansion but also effectively meets the evolving needs of modern data centers. In recent years, various advanced liquid cooling systems have been introduced in the marketplace due to the rising demand for energy-efficient cooling solutions for data centers.

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Key Findings in Data Center Cooling Market:

Data Center Cooling Market Key Players:

Modine, STULZ Gmbh, Vertiv Group Corp., Fujitsu, Black Box, Green Revolution Cooling Inc., Submer, Asperitas, Iceotope Technologies Limited, Dug Technology, DCX Liquid Cooling Systems, Rittal Gmbh & Co. Kg,, Schneider Electric, Asetek, Inc., Nortek Air Solutions, Llc, Others,

Market Segmentation Overview:

By Solution

-Air Conditioning

-Chilling Units

-Cooling Towers

-Economizer Systems

-Liquid Cooling Systems

-Control Systems

-Others (Air Handling, Heat Rejection, etc.)

By Service

-Consulting

-Installation & Deployment

-Maintenance & Support

By Type of Data Center

-Mid-sized Data Centers

-Enterprise Data Centers

-Large Data Centers

By Type of Cooling

-Room-based Cooling

-Row/Rack Cooling

By Verticals

-BFSI

-IT & Telecom

-Retail

-Healthcare

-Research & Educational Institutes

-Energy

-Government & Defense

-Others

In the Data Center Cooling Market, the Research & Educational Institutes segment is anticipated to hold the largest market share during the forecast period. The surge is due to various factors, such as the heightened utilization of data centers by research and educational institutes, increased expenditures on these facilities for technological advancements, and a pressing need to decrease carbon emissions while minimizing energy consumption. These influences have compounded with increasing pressure on existing infrastructure, spurred by the continuously evolving digital landscape, leading to an anticipated significant growth within the research and educational institutes segment in the foreseeable future.

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By Region

North America

South America

Europe

The Middle East & Africa

Asia-Pacific

The Data Center Cooling Industry Recent Development:

2023: STULZ GmbH announced the launch of its Micro Data Centre, a single rack, all-in-one micro data center solution that combines power protection and distribution, monitoring, cooling, and management with fire protection and security.

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