Dublin, Aug. 14, 2024 (GLOBE NEWSWIRE) — The “European Data Center Cooling Market – Forecast to 2024 to 2029” report has been added to ResearchAndMarkets.com.
The European data center cooling market is expected to grow from an estimated USD 3,794 million in 2024 to USD 6,432 million by 2029, at a CAGR of 11.13%.
The demand for cooling systems is expected to grow significantly in Europe, driven by the booming IT & Telecom, BFSI, and government sectors. This is driving the scale of complex data volumes that require necessary storage. Emerging technologies in data center cooling, coupled with the rise in cloud computing and data center facilities, are driving the growth of the data center cooling market in Europe. However, high initial capital costs are likely to hinder the demand for such tools, restraining the market growth.
Increasing demand for data centers is expected to drive the growth of the data center cooling market in Europe.
Europe, with economies such as the UK, Germany, France and Spain, is witnessing significant growth in improving its digital and IT infrastructure. This growth is due to an evolving corporate culture, increasing foreign direct investment in new business locations and strategic moves.
These moves are therefore driving increased data traffic in Europe, stimulating demand for data centers and leading to investment in new facilities. For example, in January 2024, Google announced that it would invest $1 billion in new data centers in the UK, which will drive digital growth in the economy.
Emerging green technologies for data center cooling offer new growth prospects.
Major European countries are implementing strategies to minimize the spread of climate change which is affecting their economic situation. Data centers generate a lot of heat, but to address these issues, various green technologies for data centers are emerging to minimize their impact on the environment, creating new opportunities for growth.
For example, in September 2023, the Danish Data Center Industry (DDI) partnered with Google, Danfoss, Microsoft, and Schnieder Electric to launch a “Net Zero Innovation Hub for Data Centers” in Denmark, aiming to accelerate the adoption of solutions that drive the green transition of data centers. Additionally, in March 2024, Ardian acquired all of the shares of UK-based data center platform Verne for $1.2 billion, which Verne plans to use to expand its sustainable data center platform across the Nordics.
Additionally, favorable government initiatives such as the European Green Deal, which aims to minimize carbon emissions from the European energy system, are also acting as an additional driver for the expansion of the regional market.
The associated high capital costs will be a hindrance to the market.
Data centers require cooling equipment to function properly. However, the costs associated with such tools can be relatively high depending on the size of the facility and the number of servers used. Such initial investments may hinder the demand for data center cooling in developing countries in Europe, limiting the market growth in the region.
The UK is expected to hold a major market share during the forecast period.
By country, the European data center cooling market is divided into Germany, France, UK, Spain, Italy, Denmark, Sweden, Netherlands, etc. The UK is expected to see significant market growth. The UK will hold a large share as IT infrastructure, including data centers, is driving the digitalization of the economy and experiencing positive growth. Major cities such as London, Zurich, Frankfurt, Stockholm, and Madrid are investing in new facilities. Moreover, the market is on an upward trend as the penetration of the Internet and 5G networks is driven by investments based on “Industry 4.0”.
According to the UK Office for National Statistics, in May 2022, internet sales accounted for 25.9% of all retail spending, up significantly from 11.2% in 2018. Another reason for the increase in data center cooling equipment is climate change. Climate change affects devices and increases heat within them. This damages the internal functioning of the systems and increases the need for cooling equipment in data centers.
Key attributes:
Report AttributesDetailsNumber of Pages102Forecast Period2024 – 2029Estimated Market Value in 2024 (USD)$3.79 billionForecasted Market Value through 2029 (USD)$6.43 billionCAGR11.1%Target RegionEurope
Featured Companies
AIREDALE INTERNATIONAL AIR CONDITIONING LTDIBMFujitsu (Furukawa Group)Eaton CorporationVertiv Group CorpHewlett Packard Enterprise Development LPSchneider Electric
Scope of the report
By Solution
Air conditioners Chillers Economizers Cooling towers Others
By company size
By end user
Colocation Service Providers Cloud Service Providers Enterprise
By industry
BFSIMManufacturingHealthcareCommunications & TechnologyEnergyEducationGovernmentMedia & EntertainmentOther
By country
Germany France UK Spain Italy Denmark Sweden Netherlands Others
For more information on this report, please visit: https://www.researchandmarkets.com/r/vqcyrm
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European Data Center Cooling Market
