Critical Power & Cooling Global Market – Overview
The global critical power & cooling market has witnessed a remarkable growth in the past few years and it has been anticipated that the critical power & cooling will grow at the steady pace during the forecast period. Critical power & cooling services are used to provide the support to the buildings, industries, power & data centre infrastructure, for data security. It helps to protect the equipment that are utilized in industry and ensures that the system is operating with high performance. The critical power and cooling services are reliable and help enhance the life of the equipment. As per the study conducted by Market Research Future, the global market for critical power & cooling is likely to grow at the CAGR of around 10%.
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One of the factors driving the growth of the critical power & cooling market is the increase in the number of data centers. This increase is mainly due to the rise in digitalization and cloud computing. The other factors that are responsible for the growth of this market are increase in the demand for improved cooling efficiency, the need to reduce the variation in power supply, and regulation formed by industries. The increased requirement for the lifespan of the equipment is also responsible for the growth of this market. A rise in the digitalization and cloud computing leading to an increase in demand for data centers, increasing demand for improved cooling efficiency in data centers, a need to reduce anomalies in power supply, and regulations and initiatives by institutes and associations are the major factors driving the global critical power and cooling market.
The factors driving the growth of global critical power and cooling solutions market are increasing power shortage globally, rapidly increasing urbanization and industrialization, and the rising need for backup power to protect equipment from the adverse effects of grid power fluctuations. Critical power and cooling solutions are reliable and helps in expanding the useful life of the equipment. This unique characteristic of critical power and cooling solutions are expected to further boost the growth of global critical power and cooling solutions market during the forecast period. The growing popularity for digitalization and cloud computing and rising need to improve cooling efficiency in data centers is expected to propel the growth of global critical power and cooling solutions market during the forecast period. The increasing adoption of digitalization and cloud computing has resulted in an increase in the data center infrastructure during forecast period. Such trend is expected to continue during the forecast period and would further bolster the demand for critical power and cooling solutions during the forecast period.
The increasing need for power generation and data storage in Asia-Pacific is expected to further drive the market for critical power and cooling solutions during the forecast period on account of high industrial growth rate and increasing awareness towards the need for backup power and cooling solutions to ensure protection against hardware damage, data loss and downtime. Additionally, rising need for power in various end-use segments such as power plants, facilities, hospitals, banking, financial services and institutions is expected to further spike the demand for critical power and cooling solutions during the forecast period. The implementation of stringent government policies, widespread adoption of cloud-based technologies and mobility solutions and the increasing growth of various end-use segments such as IT and telecommunication, retail and healthcare, and data centers in Asia-Pacific and North America is expected to further drive the demand for critical power and cooling solutions during the forecast period.
The global critical power & cooling market is regionally divided into Europe, Asia Pacific, North America, and Rest of the World. At present, the global market for critical power & cooling is dominated by Asia Pacific. Asia-Pacific is the fastest growing region in critical power & cooling market due to high industrial growth which led to increase in the need for the power generation. The need for power at various plants, institution, hospitals will result in the growth of critical power & cooling market. North America is the second largest region for critical power & cooling market because of the increase in number of data centers and data processing systems.
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In November 2017 – Schneider Electric Introduces HyperPod™ Rack-Ready System to Speed IT Design and Deployment. Schneider Electric is addressing the demand for greater compute capacity and flexible data center architectures in today’s fast paced digital world.
In February 2017 – Eaton Launches New Airfield Lighting Constant Current Regulators to Help Improve Power Quality, Lower Energy Costs and Reduce Maintenance Expenses. The Crouse-Hinds series Pro Power Essential constant current regulators help convert utility power into uniform and continuous output, enabling airport operators to improve airfield safety and illumination quality while reducing energy costs and maintenance requirements.
In November 2013 – GE’s Critical Power Business Introduces New PowerMOD* Power System for Modular Data Center Market. The GE PowerMOD modular power container can be configured with a range of critical power protection and efficiency technologies including GE’s automatic transfer switches, switchboards and transformers, along with its new TLE Series uninterruptible power supply (UPS), which provides up to 97 percent power efficiency in double-conversion mode and up to 99 percent efficiency in eBoost or multi-mode operation.
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