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Critical Power & Cooling Market Is Expected To Grow Over The CAGR Of Around 10% During The Period 2017 To 2022(January 11, 2018)
Critical Power & Cooling Global Market – Overview
The Global Critical Power & Cooling Market has witnessed a remarkable growth in the past few years and it has been anticipated that the critical power & cooling will grow at the steady pace during the forecast period. Critical power & cooling services are used to provide the support to the buildings, industries, power & data centre infrastructure, for data security. It helps to protect the equipment that are utilized in industry and ensures that the system is operating with high performance. The critical power and cooling services are reliable and help enhance the life of the equipment. As per the study conducted by Market Research Future, the global market for critical power & cooling is likely to grow at the CAGR of around 10%.
One of the factors driving the growth of the critical power & cooling market is the increase in the number of data centers. This increase is mainly due to the rise in digitalization and cloud computing. The other factors that are responsible for the growth of this market are increase in the demand for improved cooling efficiency, the need to reduce the variation in power supply, and regulation formed by industries. The increased requirement for the lifespan of the equipment is also responsible for the growth of this market. A rise in the 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 major factors driving the global critical power and cooling market.
The factors driving the growth of global critical power and cooling solutions market are increasing power shortage globally, rapidly increasing urbanization and industrialization, and the rising need for backup power to protect equipment from the adverse effects of grid power fluctuations. Critical power and cooling solutions are reliable and helps in expanding the useful life of the equipment. This unique characteristic of critical power and cooling solutions are expected to further boost the growth of global critical power and cooling solutions market during the forecast period. The growing popularity for digitalization and cloud computing and rising need to improve cooling efficiency in data centers is expected to propel the growth of global critical power and cooling solutions market during the forecast period. The increasing adoption of digitalization and cloud computing has resulted in an increase in the data center infrastructure during forecast period. Such trend is expected to continue during the forecast period and would further bolster the demand for critical power and cooling solutions during the forecast period.
The increasing need for power generation and data storage in Asia-Pacific is expected to further drive the market for critical power and cooling solutions during the forecast period on account of high industrial growth rate and increasing awareness towards the need for backup power and cooling solutions to ensure protection against hardware damage, data loss and downtime. Additionally, rising need for power in various end-use segments such as power plants, facilities, hospitals, banking, financial services and institutions is expected to further spike the demand for critical power and cooling solutions during the forecast period. The implementation of stringent government policies, widespread adoption of cloud-based technologies and mobility solutions and the increasing growth of various end-use segments such as IT and telecommunication, retail and healthcare, and data centers in Asia-Pacific and North America is expected to further drive the demand for critical power and cooling solutions during the forecast period.
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Schneider Electric (France), ABB, Ltd. (Switzerland), General Electric Corporation (U.S.),, Eaton Corporation (Ireland), Delta Electronics, Inc. (Taiwan), Critical Power Xiamen Kehua Hengsheng, Co. (China), Socomec (France), Falcon Electric, Inc. (U.S.), Daikin Industries, Ltd. (Japan), STULZ GmbH (Germany) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global critical power & cooling market.
In November, 2017 – Schneider Electric Introduces HyperPod™ Rack-Ready System to Speed IT Design and Deployment. Schneider Electric is addressing the demand for greater compute capacity and flexible data center architectures in today’s fast paced digital world.
In February, 2017 – Eaton Launches New Airfield Lighting Constant Current Regulators to Help Improve Power Quality, Lower Energy Costs and Reduce Maintenance Expenses. The Crouse-Hinds series Pro Power Essential constant current regulators help convert utility power into uniform and continuous output, enabling airport operators to improve airfield safety and illumination quality while reducing energy costs and maintenance requirements.
In November, 2013 – GE's Critical Power Business Introduces New PowerMOD* Power System for Modular Data Center Market. The GE PowerMOD modular power container can be configured with a range of critical power protection and efficiency technologies including GE's automatic transfer switches, switchboards and transformers, along with its new TLE Series uninterruptible power supply (UPS), which provides up to 97 percent power efficiency in double-conversion mode and up to 99 percent efficiency in eBoost or multi-mode operation.
Critical Power & Cooling Global Market – Segmentation
The scope of global critical power & cooling market is segmented into two major segments which are explained below:
- By Type
- By Cooling Solution Type
- Air Conditioning
- Cooling Tower
- By End User
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Critical power & cooling Global Market - Competitive Analysis
The global market for critical power & cooling seems to be highly competitive. To maintain the market position and to drive the market growth, major players strive to produce technologically advance products. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, product launch, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D, collaborating with EPC companies and, most of all, in acquiring other firms.
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