IT Cooling Systems Market Size, Share, Growth, And Industry Analysis, By Type (Small and Medium-sized Systems and Large Systems), By Application (Financial Data Center, Internet Data Center, Universities Data Center, and Others), Regional Forecast To 2031

Updated On: 08 April 2024

IT Cooling Systems Market Report Overview

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global it cooling systems market size was USD 1981 million in 2021 and market is projected to touch 5280.07 Million by 2031, exhibiting a CAGR of 10.3% during the forecast period.

IT Cooling System is a complete kit which can be used in the data center to interchange temperature over four significant parts: Compressor, Condenser, Evaporator and Throttle. According to the category of cooling medium, it can be separated into water cooling units and air cooling units.

COVID-19 Impact: Decline in End-Use Industry to Obstruct Market Growth

The COVID-19 had a significant effect on the development of the IT cooling system market owing to a drop in demand, supply, and international trade restrictions. Various industries had paused their operation momentarily. The influence was exaggerated by the massive supply-demand gap and inconsistent pricing & increasing cost of raw materials in the market. Therefore, depreciation in the growth of end-use and other industries has directly impacted the market.

Latest Trends

"Increasing Demand for Product Creates Market Opportunities"

The growing attention in increasing manufacturing of refrigeration structures and equipment is motivating the market for IT cooling systems. This is mostly owing to the extraordinary presentation of global IT cooling systems. It plays an important role in resolving several difficulties linked to industrial cooling and heat exchange. Augmented demand for evaporative cooling towers is anticipated to generate substantial prospects for the market. It is expected that in the coming years, the upsurge in the usage of cooling systems in the automotive, chemical, metallurgical, energy, and electrical industries will encourage the expansion of the IT cooling system market.

IT Cooling Systems Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Small and Medium-sized Systems and Large Systems.

• By Application Analysis

Based on application, the market can be divided into Financial Data Center, Internet Data Center, Universities Data Center, and Others.

Driving Factors

"Rising Demand from End-User Sector to Accelerate Market Growth "

Over the forecast period, the market is expected to rise owing to the extensive usage of IT cooling system through all significant end-user sectors. The market for IT cooling systems has exposed remarkable progression, and this inclination is expected to endure. All substantial developing countries are suffering a surge in demand for IT cooling systems owing to the progress in the manufacturing sector. The sales are being further improved by macroeconomic aspects like increasing urbanization and manufacturing action and technology advancements in the sector.

"R&D Activities to Drive Market Advancements   "

The improvement in the IT cooling system, growing government guidelines for ecological system and substantial funds in R&D activities which further improve the applications of the product, spread gainful prospects to the market players in the coming years. Moreover, the severe eco-friendly guidelines combined with the increasing awareness about the profits of IT cooling systems will further enlarge the future growth of the IT cooling system market.

Restraining Factors

"High Cost May Hinder Market Expansion"

Key restraints such as low replacement amount, high fitting costs, the compound installation procedure of IT cooling systems, and the importance of outdated refrigerators in today's market might hamper the IT cooling system market growth in the coming years.

IT Cooling Systems Market Regional Insights

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"Increasing Demand from Food & Beverage Sector to Flourish Market Advancements "

Asia-Pacific leads the IT cooling system market share due to the progress in the food and beverage sector and increasing demand for harmless cooling systems through developing countries in the region. Additionally, to inspire the usage of energy-efficient equipment, the Chinese government has started various programs. For example, Energy Efficient Network, delivers encouragement and subsidies to corporations that purchase energy-efficient cooling systems.

North America is projected to display profitable progression owing to the extraordinary existence of prominent producers in the region. Moreover, increasing demand from the commercial and residential sector encourages a long-lasting IT cooling systems market.

Key Industry Players

"Key Players Penetration into Partnership with Railcar Manufacturers to Retain Position in the Market "

The key players of the market get advantages from the variety of application segments such as food & agriculture, oil & gas, chemical products, energy and coal, steel & mining, and many more are attributed to generate lucrative opportunities for the leading players of the market. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market.

List of Market Players Profiled

• Emerson (U.S.)
• Schneider (France)
• Rittal (Germany)
• STULZ (Germany)
• Airedale (U.K.)
• Clinaveneta (Italy)
• Siemens (Germany)
• Pentair (U.S.)
• KyotoCooling (U.S.)
• Coolitsystems (China)

Report Coverage

This report concentrates on the railcar leasing market. It highlights the market value, expected CAGR, and USD value over the forecast period. The COVID-19 impact on the market at the beginning of the pandemic and the post-pandemic effects on international market restrictions and how the industry is going to turn the corner are also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future.