Critical Power &
Cooling Market - Overview
Power outages are
non-negotiable in critical business environments such as hospitals, IT data
centers, industrial and infrastructural units, and energy setups. Critical
power and cooling solutions are essential to enhance the life of equipment and
ensure steady performance. Critical
power and cooling services have become key to the functioning of industries,
especially the data center industry and are being increasingly demanded on a
global scale. Market Research Future (MRFR) has recently published an in-depth
report on the Critical
Power & Cooling Market has indicated a CAGR of 8.92% in the market
over the forecast period of 2018-2023.
Perhaps, the increase in
the number of data centers is the most significant factor that has driven the
global critical power and cooling market. Data center operators are faced with
the challenges of prolific growth in data consumption and workloads, meet
sustainability goals, reduce cost, and increasing power dense infrastructure
which emits massive heat. Such complex environment requires reliable power,
lighting, and heating/cooling for optimum performance, which has induced demand
within the critical power and cooling market. Other factors supporting market
growth include growing demand for improved cooling efficiency, need to
stabilize power supply variation, and tighter industry regulations to reduce
anomalies in power supply.
Critical Power &
Cooling Market Segmentation
The global Critical Power
& Cooling 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 & 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.
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.
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