IT Cooling System Market size shall reach a value of $23,103.2 Million in 2027, growing with a CAGR of 5% during the forecast period of 2020 to 2027.
IT Cooling System Market Growth and Trends
There is a rising demand for energy-efficient cooling systems alongside technological advancements boosting the industrial cooling system market growth. Functional benefits received from these in reduction of excessive heat from components and industrial equipment in industries, such as utility and power, chemical, and oil and gas, among others. Excessive heat in a production process may cause great damage to the health of workers and the quality of manufactured or stored goods. The cooling equipment is effective in maintaining the temperature of several production processes, machines, and components. Prevention of overheating of industrial equipment ensures increased productivity and reduces the maintenance cost of machines. As a result, this propels rising demand for the equipment in nuclear and thermal power plants. Such factors are most likely to positively expand the market size of industrial cooling systems. The demand for installation of new systems installation is on the rise as a result of being integrated with advanced technologies and providing high optimization potential. Hybrid cooling systems, which offer a combination of wet and dry solutions will witness steady growth, a they facilitate reduction in steam drift that is visible during cold, wet weather and in winters to avoid icing. They combine air and water-cooled heat-rejection systems blended with advanced control systems to reduce the water consumption. This elimination of the steam drift is advantageous in urban and industrial areas. During periods of peak load along with climate changes, a very high amount of heat can be eliminated by evaporative heat transfer by the use of hybrid cooling systems. In addition, a range of government regulations are compelling the utility/power plant owners to reduce water consumptions, which is driving the industrial cooling system market demand at an increasing rate, thus fuelling steep market growth.
The pandemic situation is only a temporary factor restraining growth.
IT Cooling System Market Competition
Key companies operating in this industry are Emerson, Schneider, Rittal, STULZ, Airedale, Climaveneta, Siemens, Pentair, KyotoCooling, and Coolitsystems.
Coverage Highlights
• IT Cooling System Market Revenue Estimation and Forecast (2020 – 2027)
• Production Estimation and Forecast (2020 – 2027)
• Sales/Consumption Volume Estimation and Forecast (2020 – 2027)
• Breakdown of Revenue by Segments (2020 – 2027)
• Breakdown of Production by Segments (2020 – 2027)
• Breakdown of Sales Volume by Segments (2020 – 2027)
• Gross Margin and Profitability Analysis of Companies
• Business Trend and Expansion Analysis
• Import and Export Analysis
IT Cooling System Market Segmentation
Product Outlook (Revenue, USD Million, 2020 - 2027)
• Small and medium-sized systems
• Large systems
Application Outlook (Revenue, USD Million, 2020 - 2027)
• Financial Data Center
• Internet Data Center
• Universities Data Center
Country (Revenue, USD Million, 2020 - 2027)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
IT Cooling System Market Companies
• Emerson
• Schneider
• Rittal
• STULZ
• Airedale
• Climaveneta
• Siemens
• Pentair
• KyotoCooling
• Coolitsystems
