North America Data Center Cooling Market Report 2021-2031 by Scope, Segmentation, Dynamics, and Competitive Analysis

Description

List of Tables

The North America data center cooling market is projected to grow significantly, reaching approximately US$ 19,351.81 million by 2031, up from US$ 5,878.74 million in 2023, with an estimated compound annual growth rate (CAGR) of 16.1% from 2023 to 2031.

Executive Summary and Market Analysis

The data center cooling market in North America has experienced notable advancements, primarily driven by the increasing demand for cost-effective, energy-efficient, and environmentally friendly cooling solutions. This trend aligns with stringent conservation regulations set by government agencies. Companies are actively launching innovative products to support this growth. For example, in November 2023, Vertiv introduced the Vertiv SmartMod Max CW, a modular data center designed for rapid deployment, capable of handling up to 200kW of IT load while utilizing chilled water cooling to minimize environmental impact and enhance energy efficiency. This product reflects the growing need for efficient computing resources in the region.

In April 2024, Vertiv also unveiled AI-driven power and cooling solutions aimed at simplifying data center infrastructure selection and deployment. As AI and High-Performance Computing (HPC) reshape the data center landscape, the new Vertiv 360AI solutions are designed to meet the higher cooling and power demands of advanced computing systems, promising up to twice the speed of traditional infrastructure installation. This highlights North America's pivotal role in advancing data center infrastructure and cooling technologies.

Market Segmentation Analysis

The North America data center cooling market can be segmented by component, cooling type, data center type, and industry vertical:

Component: The market includes air conditioning systems, chillers, air handling units, cooling towers, heat exchangers, humidifiers, and others. In 2023, air conditioning systems held the largest market share.
Cooling Type: The market is divided into room-based, row-based, and rack-based cooling, with room-based cooling leading in market share in 2023.
Data Center Type: Segmented into hyperscale, colocation, wholesale, and enterprise data centers, the hyperscale segment dominated in 2023.
Industry Vertical: The market includes IT and telecom, BFSI, healthcare, manufacturing, government and defense, media and entertainment, retail, energy, and others, with IT and telecom holding the largest share in 2023.

Market Outlook

The push for decarbonization, climate change concerns, and the need for powerful computing are driving organizations to invest in energy-efficient cooling technologies for data centers. The demand for effective cooling solutions is increasing as data centers expand to meet growing workloads and storage needs. Significant investments in data centers are indicative of this trend. For instance, in January 2024, Vantage Data Centers announced a US$ 6.4 billion equity investment led by DigitalBridge Group and Silver Lake, reflecting the rising demand for hyperscale data centers and the associated cooling solutions.

In the first five months of 2024, global investments in data centers reached US$ 22 billion, following a record US$ 36 billion in 2023. Notable investments include Google's US$ 2.3 billion commitment to its data center campuses in Central Ohio and Microsoft's US$ 3.3 billion investment in a new AI data center, which is expected to create thousands of jobs. Additionally, NTT DATA announced investments in its American data center business, further underscoring the growing demand for advanced cooling solutions.

Country Insights

The North America data center cooling market comprises the US, Canada, and Mexico, with the US holding the largest market share in 2023. US data centers utilize various cooling solutions to manage the heat generated by numerous servers. While traditional air cooling methods are common, there is a shift towards more efficient technologies such as precision cooling units, liquid cooling, and direct air cooling. Companies like Alfa Laval, Schneider Electric, and Munters are leading the way in providing advanced cooling solutions. The industry is also exploring innovative technologies, including AI-driven smart cooling systems and geothermal cooling methods, to enhance sustainability and energy efficiency.

Company Profiles

Key players in the North America data center cooling market include Asetek, Mitsubishi Corp, Stulz SpA, Vertiv Group, Aspen Systems, Daikin Industries, Delta Electronics, and Schneider Electric, among others. These companies are employing strategies such as expansion, product innovation, and mergers and acquisitions to enhance their market presence and offer innovative solutions to customers.

Product Code: TIPRE00007020

1. Introduction

1.1 Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macroeconomic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country-level data:

4. North America Data Center Cooling Market Landscape

4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 List of Vendors in the Value Chain

5. North America Data Center Cooling Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Increasing Demand for Compute-Intensive Workloads
- 5.1.2 Rising Investments in Data Centers
5.2 Market Restraints
- 5.2.1 High Cost Associated with Data Center Cooling
5.3 Market Opportunities
- 5.3.1 Advancements in Liquid Cooling Technologies
- 5.3.2 Growing Incorporation of Data Center Cooling Robots
5.4 Trends
- 5.4.1 AI-Optimized Cooling and Quieter Cooling Solutions
5.5 Impact of Drivers and Restraints:

6. Data Center Cooling Market - North America Analysis

6.1 North America Data Center Cooling Market Revenue (US$ Million), 2021-2031
6.2 North America Data Center Cooling Market Forecast Analysis

7. North America Data Center Cooling Market Analysis - by Component

7.1 Air Conditioning System
- 7.1.1 Overview
- 7.1.2 Air Conditioning System: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.2 Chillers
- 7.2.1 Overview
- 7.2.2 Chillers: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.3 Air Handling Units
- 7.3.1 Overview
- 7.3.2 Air Handling Units: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.4 Cooling Towers
- 7.4.1 Overview
- 7.4.2 Cooling Towers: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.5 Heat Exchangers
- 7.5.1 Overview
- 7.5.2 Heat Exchangers: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.6 Humidifiers
- 7.6.1 Overview
- 7.6.2 Humidifiers: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.7 Others
- 7.7.1 Overview
- 7.7.2 Others: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)

8. North America Data Center Cooling Market Analysis - by Cooling Type

8.1 Room Based Cooling
- 8.1.1 Overview
- 8.1.2 Room Based Cooling: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.2 Row Based Cooling
- 8.2.1 Overview
- 8.2.2 Row Based Cooling: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
8.3 Rack Based Cooling
- 8.3.1 Overview
- 8.3.2 Rack Based Cooling: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)

9. North America Data Center Cooling Market Analysis - by Data Center Type

9.1 Hyperscale Data Center
- 9.1.1 Overview
- 9.1.2 Hyperscale Data Center: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.2 Colocation Data Center
- 9.2.1 Overview
- 9.2.2 Colocation Data Center: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.3 Wholesale Data Center
- 9.3.1 Overview
- 9.3.2 Wholesale Data Center: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
9.4 Enterprise Data Center
- 9.4.1 Overview
- 9.4.2 Enterprise Data Center: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)

10. North America Data Center Cooling Market Analysis - by Industry Vertical

10.1 IT and Telecom
- 10.1.1 Overview
- 10.1.2 IT and Telecom: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
10.2 BFSI
- 10.2.1 Overview
- 10.2.2 BFSI: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
10.3 Healthcare
- 10.3.1 Overview
- 10.3.2 Healthcare: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
10.4 Manufacturing
- 10.4.1 Overview
- 10.4.2 Manufacturing: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
10.5 Government and Defense
- 10.5.1 Overview
- 10.5.2 Government and Defense: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
10.6 Media and Entertainment
- 10.6.1 Overview
- 10.6.2 Media and Entertainment: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
10.7 Retail
- 10.7.1 Overview
- 10.7.2 Retail: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
10.8 Energy
- 10.8.1 Overview
- 10.8.2 Energy: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
10.9 Others
- 10.9.1 Overview
- 10.9.2 Others: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)

11. North America Data Center Cooling Market - Country Analysis

11.1 North America
- 11.1.1 North America Data Center Cooling Market Overview
- 11.1.2 North America Data Center Cooling Market - Revenue and Forecast Analysis - by Country
  - 11.1.2.1 North America Data Center Cooling Market - Revenue and Forecast Analysis - by Country
  - 11.1.2.2 United States: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 11.1.2.2.1 United States: North America Data Center Cooling Market Share - by Component
    - 11.1.2.2.2 United States: North America Data Center Cooling Market Share - by Cooling Type
    - 11.1.2.2.3 United States: North America Data Center Cooling Market Share - by Data Center Type
    - 11.1.2.2.4 United States: North America Data Center Cooling Market Share - by Industry Vertical
  - 11.1.2.3 Canada: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 11.1.2.3.1 Canada: North America Data Center Cooling Market Share - by Component
    - 11.1.2.3.2 Canada: North America Data Center Cooling Market Share - by Cooling Type
    - 11.1.2.3.3 Canada: North America Data Center Cooling Market Share - by Data Center Type
    - 11.1.2.3.4 Canada: North America Data Center Cooling Market Share - by Industry Vertical
  - 11.1.2.4 Mexico: North America Data Center Cooling Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 11.1.2.4.1 Mexico: North America Data Center Cooling Market Share - by Component
    - 11.1.2.4.2 Mexico: North America Data Center Cooling Market Share - by Cooling Type
    - 11.1.2.4.3 Mexico: North America Data Center Cooling Market Share - by Data Center Type
    - 11.1.2.4.4 Mexico: North America Data Center Cooling Market Share - by Industry Vertical

12. Competitive Landscape

12.1 Heat Map Analysis by Key Players
12.2 Company Positioning and Concentration

13. Industry Landscape

13.1 Overview
13.2 Market Initiative
13.3 Partnerships and Collaborations
13.4 Other Developments

14. Company Profiles

14.1 Asetek, Inc
- 14.1.1 Key Facts
- 14.1.2 Business Description
- 14.1.3 Products and Services
- 14.1.4 Financial Overview
- 14.1.5 SWOT Analysis
- 14.1.6 Key Developments
14.2 Mitsubishi Corp
- 14.2.1 Key Facts
- 14.2.2 Business Description
- 14.2.3 Products and Services
- 14.2.4 Financial Overview
- 14.2.5 SWOT Analysis
- 14.2.6 Key Developments
14.3 Stulz SpA
- 14.3.1 Key Facts
- 14.3.2 Business Description
- 14.3.3 Products and Services
- 14.3.4 Financial Overview
- 14.3.5 SWOT Analysis
- 14.3.6 Key Developments
14.4 Vertiv Group Corp.
- 14.4.1 Key Facts
- 14.4.2 Business Description
- 14.4.3 Products and Services
- 14.4.4 Financial Overview
- 14.4.5 SWOT Analysis
- 14.4.6 Key Developments
14.5 Aspen Systems, LLC.
- 14.5.1 Key Facts
- 14.5.2 Business Description
- 14.5.3 Products and Services
- 14.5.4 Financial Overview
- 14.5.5 SWOT Analysis
- 14.5.6 Key Developments
14.6 Daikin Industries Ltd
- 14.6.1 Key Facts
- 14.6.2 Business Description
- 14.6.3 Products and Services
- 14.6.4 Financial Overview
- 14.6.5 SWOT Analysis
- 14.6.6 Key Developments
14.7 Delta Electronics Inc
- 14.7.1 Key Facts
- 14.7.2 Business Description
- 14.7.3 Products and Services
- 14.7.4 Financial Overview
- 14.7.5 SWOT Analysis
- 14.7.6 Key Developments
14.8 Danfoss AS
- 14.8.1 Key Facts
- 14.8.2 Business Description
- 14.8.3 Products and Services
- 14.8.4 Financial Overview
- 14.8.5 SWOT Analysis
- 14.8.6 Key Developments
14.9 Motivair Corporation
- 14.9.1 Key Facts
- 14.9.2 Business Description
- 14.9.3 Products and Services
- 14.9.4 Financial Overview
- 14.9.5 SWOT Analysis
- 14.9.6 Key Developments
14.10 Madison Industries
- 14.10.1 Key Facts
- 14.10.2 Business Description
- 14.10.3 Products and Services
- 14.10.4 Financial Overview
- 14.10.5 SWOT Analysis
- 14.10.6 Key Developments
14.11 Fujitsu Ltd
- 14.11.1 Key Facts
- 14.11.2 Business Description
- 14.11.3 Products and Services
- 14.11.4 Financial Overview
- 14.11.5 SWOT Analysis
- 14.11.6 Key Developments
14.12 Rittal GmbH & Co KG
- 14.12.1 Key Facts
- 14.12.2 Business Description
- 14.12.3 Products and Services
- 14.12.4 Financial Overview
- 14.12.5 SWOT Analysis
- 14.12.6 Key Developments
14.13 Schneider Electric SE
- 14.13.1 Key Facts
- 14.13.2 Business Description
- 14.13.3 Products and Services
- 14.13.4 Financial Overview
- 14.13.5 SWOT Analysis
- 14.13.6 Key Developments
14.14 Trane Technologies Plc
- 14.14.1 Key Facts
- 14.14.2 Business Description
- 14.14.3 Products and Services
- 14.14.4 Financial Overview
- 14.14.5 SWOT Analysis
- 14.14.6 Key Developments
14.15 Black Box Corporation
- 14.15.1 Key Facts
- 14.15.2 Business Description
- 14.15.3 Products and Services
- 14.15.4 Financial Overview
- 14.15.5 SWOT Analysis
- 14.15.6 Key Developments
14.16 Carrier Global Corp
- 14.16.1 Key Facts
- 14.16.2 Business Description
- 14.16.3 Products and Services
- 14.16.4 Financial Overview
- 14.16.5 SWOT Analysis
- 14.16.6 Key Developments
14.17 Alfa Laval AB
- 14.17.1 Key Facts
- 14.17.2 Business Description
- 14.17.3 Products and Services
- 14.17.4 Financial Overview
- 14.17.5 SWOT Analysis
- 14.17.6 Key Developments
14.18 Hewlett Packard Enterprise Development LP
- 14.18.1 Key Facts
- 14.18.2 Business Description
- 14.18.3 Products and Services
- 14.18.4 Financial Overview
- 14.18.5 SWOT Analysis
- 14.18.6 Key Developments
14.19 Boyd Corp
- 14.19.1 Key Facts
- 14.19.2 Business Description
- 14.19.3 Products and Services
- 14.19.4 Financial Overview
- 14.19.5 SWOT Analysis
- 14.19.6 Key Developments
14.20 Evapco Inc
- 14.20.1 Key Facts
- 14.20.2 Business Description
- 14.20.3 Products and Services
- 14.20.4 Financial Overview
- 14.20.5 SWOT Analysis
- 14.20.6 Key Developments

15. Appendix

15.1 About Us
15.2 List of Abbreviations