Critical power and cooling is a key aspect of the global data center industry. Thanks to the high volume of computing hardware required in data centers, power management becomes a crucial requirement for data centers. Ensuring enough cooling to enable steady performance is another requirement arising from the large-scale use of computing hardware and is likely to play an important role in the development of the global critical power and cooling market during the forecast period.
The global Critical Power and Cooling market is projected to grow at a high rate during the forecast period, mainly due to the rise in digitalization and cloud computing. Global Critical Power and Cooling market has been segmented based on type, end-use, and region. Based on type, the critical power market is classified into uninterrupted power supply, generators, and others. The global Critical Power and Cooling market is further segmented based on end-use, including Industrial, commercial, IT & Telecommunication, Telecom, and Transportation. The Commercial segment of the global Critical Power and Cooling market is estimated to register the highest growth rate during the forecast period due to increase in the number of data centers, banks, hotels, and other commercial properties.
The lack of specialists in the field of critical power management is a key restraint hampering the growth prospects of the global critical power and cooling market.. Due to this, the critical power and cooling industry hasn’t been consolidated sufficiently to produce a feasible supply line of competent technicians. This is likely to be a short-term restraint on the global critical power and cooling market in the coming years.
North America holds the largest share in the critical power and cooling market due to increasing demand of data centers and other commercial areas in the countries such as US, Canada, and Mexico. For instance, Google (US) would invest USD 13 billion in data centers in the US. Similarly, Apple (US) plans to invest USD 10 billion in US data center construction between 2020 to 2025. These investments would boost the growth of critical power and cooling market in the US.