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 and Cooling Solutions 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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