European data centre cooling market to exceed $6bn by 2024
According to the Graphical Research new growth forecast report titled ‘Europe Data Centre Cooling Market Size By Component, Service, Cooling Technique, Application, – Industry Report, Growth Analysis & Forecast, 2018 – 2024’, the sector is estimated to cross $6bn by 2024
The data storage requirements in the region are growing rapidly due to the increasing adoption of cloud computing and connected technologies. The industrial sectors are adopting advanced equipment and machines, which are integrated with such technologies, generating large amounts of business data. The infrastructure facilities installed in the industries need to manage such massive information, which requires effective heat management solutions, thereby accelerating the Europe data centre cooling market.
In the Europe data centre cooling market, the maintenance and support services are witnessing a substantial demand due to the increasing need for periodical inspection of IT devices to reduce the chances of system failures and downtime. The industrial sectors are implementing preventative maintenance tasks to predict the lifetime and operational efficiencies of the system. Such factors will drive the requirement for effective maintenance services and support, thereby providing an impetus to the Europe data centre cooling market growth.
Room-based systems are witnessing a high adoption by the companies, which are focused on implementing cost-efficient technologies. These systems are providing several advantages to the companies such as easy installation, lesser operational and maintenance costs, and the ability to allow quick changes to the cooling pattern based on the position and location of the IT devices. Such factors are encouraging small-scale companies to shift their focus toward room-based cooling, providing a thrust to Europe data centre cooling market growth.
IT and telecom companies are integrating these cooling solutions into their infrastructure facilities for the effective heat management of the devices. Increasing data traffic and integration of large number of electrical devices will lead to the need for effective cooling solutions. Moreover, the telecom sector is gearing up for 5G connectivity, which is predicted to unleash a massive IoT ecosystem, where the network will serve various communication needs for the billions of connected devices. Such advanced connectivity technologies are expected to drive the demand in the Europe data centre cooling market.
Key players participating in Europe data centre cooling market are Schneider Electric, Asetek, Rittal, Climaveneta, Black Box Corporation, Condair Group AG, Nortek Air Solutions, AdaptivCOOL, and Airedale International Air Conditioning, among others. The companies are providing their innovative solutions based on business requirements.
Segments covered are:
Europe Data Centre Cooling Market, by Component
- Chilling unit
- Air conditioner
- Cooling tower
- Control system
- Liquid cooling system
- Maintenance and support
- Installation and deployment
Europe Data Centre Cooling Market, by Cooling Technique
- Rack/row based
- Room based
Europe Data Centre Cooling Market, by Application
- IT and telecom
- Energy and utility