PUNE, India, March 23, 2017 /PRNewswire/ --
The report "Critical Power and Cooling Market, Power Solution by Type (Ups, Genset) And End Use (Industrial, Commercial, IT & Telecom, Transportation), Cooling Solution by Type (Air Conditioning, Chiller, Cooling Tower, Liquid Cooling System) Global Forecast To 2021", published by MarketsandMarkets, the market is expected to grow from an estimated USD 16.87 Billion in 2016 to USD 25.80 Billion by 2021, at a CAGR of 8.88%, from 2016 to 2021.
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Browse 60 market data Tables with 43 Figures spread across 166 Pages with an in-depth TOC on the report "Critical Power and Cooling Market"
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A rise in 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 market for critical power and cooling across the globe.
The commercial end-use segment would dominate the global Critical Power and Cooling Market
In terms of end-use, the critical power market in this report has been classified into the following segments, namely, industrial, commercial, IT and telecommunication, transportation, and government and defense, while the cooling solutions market has been classified into the industrial, commercial, IT and telecommunication, transportation, and others (government buildings and military applications) segments.
The commercial segment dominated the Critical Power and Cooling Market in 2016 due to an increase in the number of data centers, hospitals, banks, financial services and insurances (BFSI), and hotels and restaurants, mainly in countries such as China and India.
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UPS & air-conditioning is the largest type-based market segment
The report segments the critical power market on the basis of type into UPS, generators, and others (converters, inverters, transfer switches, power transfer switching, breaker transfer pairs, generator paralleling breakers, and switch transfer pairs), while the cooling solutions market is segmented into air conditioning, chilling units, cooling towers, liquid cooling systems, and others (economizer systems, control systems, pumping units, humidifiers, and air coolers). The UPS segment in the critical power market and the air-conditioning segment in the cooling market are expected to dominate by 2021. This growth is majorly driven by Asia-Pacific due to the rapid industrialization and urbanization in the region. The Critical Power and Cooling Market is expected to witness a growth in the developing countries of the region, such as China and India, due to increased demand from end-users such as the power generation, petrochemical, and oil & gas industries. Meanwhile, the power generation end-user industries are growing at a rapid pace in India and China.
North America is the dominant market for the Critical Power and Cooling Market
North America is currently the largest market for Critical Power and Cooling. The U.S. accounted for the majority share in North America in 2016. The increasing number of data centers and data processing power, and increasing demand for information storage are factors driving the market in the U.S. and Canada.
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To provide an in-depth understanding of the competitive landscape, the report includes the profiles of companies such as Schneider Electric (France), ABB, Ltd. (Switzerland), General Electric (U.S.), , Eaton Corporation (Ireland), Delta Electronics, Inc. (Taiwan), Critical Power Xiamen Kehua Hengsheng, Co. (China), Socomec (France), Falcon Electric, Inc. (U.S.), Daikin Industries, Ltd. (Japan), STULZ GmbH (Germany), Asetek A/S (Denmark), Vertiv, Co. (U.S.), ICS Cool Energy (U.K.), Piller Group GmbH (Germany), Riello Elettronica Group (Italy), Cyber Power Systems (U.S.), AC Power Corp. (PREEN) (Taiwan), Connexa Energy (U.S.), Siemens AG (Germany), SPX Corporation (U.S.), Johnson Controls, Inc. (U.S.), Nortek Air Solutions, LLC (U.S.), Rittal GmbH & Co. KG (Germany), and Airedale International Air Conditioning, Ltd. (U.K.), among others. The dominant players are trying to gain a foothold in developing economies and are adopting various methods to grab market share.
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