Data Center Cooling Market Size, Share, & Trend Report

Data Center Cooling Market Size, Share, & Trend Analysis By Component (Solutions, Services), By Type, By Containment, By Structure, By Application, By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: 978-1-68038-652-3
  • Number of Pages: 160
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2022
  • Industry: Technology

Research Methodology

A three-pronged approach was followed for deducing the data center cooling market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for data center cooling market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of data center cooling market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Data Center Cooling Market Categorization:

The data center cooling market was categorized into five segments, namely product (Air Conditioners, Precision Air Conditioners, Chillers, Air Handling Units), application (Telecom, IT, Retail, Healthcare, BFSI, Energy), containment (Raised Floor with Containment, Raised Floor without Containment), structure (Rack-Based Cooling, Row-Based Cooling, Room-Based Cooling) and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The data center cooling market was segmented into product, application, containment, structure, and region. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The data center cooling market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into eleven countries, namely, the US.; Canada; the UK.; Germany; Nordic Countries; China; India; Japan; South East Asia; Brazil; Mexico.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Data center cooling market companies & financials:

The data center cooling market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Air Enterprises: Crawford AE LLC designs manufactures, and installs large-scale commercial, institutional, and industrial custom air handling solutions. The company is a subsidiary of Crawford United Corporation. Crawford AE LLC offers commercial air handling products under the name Air Enterprises. The Commercial Air Handling segment manufactures and installs products under the brand names FactoryBilt and Site Bilt. FactoryBilt and SiteBilt air handling solutions are designed, manufactured, and assembled in Akron, Ohio, facility center. However, the SiteBilt air handling solutions are shipped to the field and built on-site. Furthermore, for Commercial Air Handling Units, the company sources its raw materials, notably aluminum and copper, from Canada. The company’s geographic presence spans the U.S., Canada, China, Mexico, Poland, and Peru, among others.

  • Asetek, Inc. A/S: Asetek, Inc. is engaged in providing liquid cooling solutions, such as OEM CPU coolers and OEM GPU & combo coolers. It offers data center coolers through the data center product category. Its products and solutions are used across various applications, such as data centers, workstations, high-performance gaming PCs, and servers. Asetek, Inc. operates through two business segments, namely Gaming and Enthusiast and Data Center. The Gaming and Enthusiast segment offers liquid coolers for high-performance PC and gaming customers. The Data Center segment includes direct-to-chip liquid cooling solutionsAsetek, Inc. has marked its presence across Asia, America, and Europe. The company has an R&D center in Aalborg, Denmark, focused on managing its customer requirements. In addition, the company manufactures its products in a facility center based in Xiamen, China. The company’s sales and marketing team is based in the U.S., Europe, and Asia. Most of its products are manufactured in China and shipped to other regions. The low-capacity and highly complex products and components are manufactured in the company’s facilities.

  • CLIMAVENETA: Mitsubishi Electric Hydronics & IT Cooling Systems S.p.A. is engaged in providing eco-sustainable solutions and value-added services worldwide. It sells highly efficient, reliable, renewable energy solutions under two brands, namely Climaveneta and RC IT Cooling.Moreover, Mitsubishi Electric Hydronics & IT Cooling Systems S.p.A is a manufacturing subsidiary of Mitsubishi Electric Corporation. Mitsubishi Electric Corporation operates under six segments, namely Energy and Electric Systems, Industrial Automation Systems, Information and Communication Systems, Electronic Devices, Home appliances, and others. The data center cooling market is catered to by the home appliance segment. The segment offers air conditioning & refrigeration systems, home equipment, home appliances, lighting fixtures and light bulbs, visual equipment for public and business applications, and recycling consumer electronics and home appliances.

  • Coolcentric: Coolcentric is engaged in providing data center cooling solutions. The company is a business division of Wakefield-Vette, a thermal solutions provider to various engineering, manufacturing, and supply chain & logistics firms. Coolcentric offers solutions such as thermal solutions for enterprise data centers, energy efficiency and space optimization, localized cooling, and hot spot elimination. The company's data center cooling product list includes a rear door heat exchanger, coolant distribution unit, hose kits, external manifold kits, accessories, and technologies. Additionally, the company offers services such as installation and commissioning, preventive maintenance, and on-site services. The company has marked its presence in the U.S. market.

  • Fujitsu: FUJITSU's product portfolio includes multiple computing devices, integrated systems, storage solutions, HVAC solutions, and network switches. The company also offers its products through various distributors, including Westcon-Comstor, Synnex Corporation, Arrow Electronics, Inc., and Ingram Micro, Inc. FUJITSU operates through three business segments, namely Technology Solutions, Device Solutions, and Ubiquitous Solutions. The company's Technology Solutions segment offers various software and system products, including servers and storage systems, and network products. The company generates the major share of its revenue from the Technology Solutions segment.

  • Green Revolution Cooling, Inc.: Green Revolution Cooling, Inc. offers liquid immersion cooling solutions for enterprise/cloud/hyperscale, edge, and HPC, among others. GRC holds 24 patents and 15 pending patents and has undertaken installations in 21 countries. Moreover, the company has partnered with Dell Technologies, Intel, and Vertiv, among others. The major highlight of the cooling solution offered by GRC includes increased performance, enabling the transformation of data center density, and delivering rack density of up to 368 kW. Some of the major customers of GRC include the U.S. Air Force, the Tokyo Institute of Technology, the National Security Agency of the U.S., the Department of Defense of the U.S., and Texas Advanced Computing Centers, among others.

  • Hitachi Ltd.: Hitachi Ltd. is a manufacturer and solution provider for industrial and consumer goods. The data center cooling solution falls under the industry. segment. The industry segment offers industry and distribution systems, water & environment systems, and industrial products. Additionally, Hitachi Ltd. offers data center cooling solutions through its subsidiary named Hitachi Plant Services Co., Ltd. The subsidiary offers data center cooling products under the building and facilities business units that offer energy-saving solutions for data centers. Hitachi Plant Services Co., Ltd is engaged in the provision of refrigeration equipment, air temperature/humidity control equipment, water supply/drainage equipment, sanitary equipment, industrial machinery equipment, electrical and telecommunications equipment, and other building ancillary equipment. It also provides products for the construction and maintenance of water treatment equipment, dust collectors, and other equipment.

  • Iceotope: Iceotope is a liquid cooling solution provider whose target audience includes CSPs (Cloud Service Provider), telecom companies, HPC/AI, retailers, financial service providers, and healthcare service providers, among others. Some of the major attributes of the cooling solution offered by Iceotope include up to 40% less power usage, less water usage, less carbon emission, and less cooling usage. Some of the major investors of Iceotope include ABC Impact, nVent, SDCL Energy Efficiency Income Trust plc, Northern Gritstone, British Patient Capital, Pavilion Capital, and Edinv.

  • Nortek Air Solutions, LLC.: Nortek Air Solutions, LLC. offers a wide range of HVAC and air handling products, including air handlers, coils, and clean room systems. The industries to which the company offers its products include education, healthcare, manufacturing, government, retail, pharmaceuticals, and hospitality, among others. The company has three of its manufacturing facilities located in the U.S. and two in Canada. The company has been involved in R&D activities aimed at introducing technologies for bettering cooling systems, which includes FANWALL TECHNOLOGY that offers better energy efficiency, quiet operation, redundancy & reliability, easy installation, and flexible configuration, among others.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Data Center Cooling Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Data Center Cooling Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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