Why is Increasing Prevalence of Diseases Significant for Critical Power and Cooling Solutions Market Growth?

The rising popularity of cloud computing and digital processes and surging need to enhance the cooling efficiency in data centers will increase the adoption of critical power and cooling solutions in the coming years. Thus, the escalating demand for generators and air conditioning units in data centers is expected to propel the critical power and cooling solutions market at a CAGR of 10.8% during 2017–2023. According to P&S Intelligence, at this rate, the revenue of the market will increase from $16,320.0 million in 2016 to $32,900.0 million in 2023.

The type segment of the critical power and cooling solutions market is bifurcated into critical power and cooling solutions. Of these, the critical power bifurcation accounted for the larger market share in recent years due to the widespread adoption of such solutions in the commercial sector. As a result, the critical power category will dominate the market during the forecast period as well. This category is further divided into generators, uninterruptible power supply, and others. Amongst these, the UPS category generated the highest revenue for the market in 2016.

To learn more about this report: https://bit.ly/3ciJzeu

During the historical period (2013–2016), North America generated the highest demand for critical power and cooling solutions, with the U.S. emerging as the larger user. Similarly, Germany was the largest user of such systems in Europe, and China accounted for their high usage in the Asia-Pacific region. Moreover, Argentina generated the highest demand for critical power and cooling solutions in Latin America, while Saudi Arabia was the frontrunner in the Middle East and Africa.

Furthermore, the increase in investments for research and development (R&D) by critical power and cooling solutions market players, including General Electric and Unified Power, will boost the demand for these systems. To keep up with the spurring demand, GE and other market players, such as ABB Ltd., Daikin Industries Ltd., Johnson Controls International PLC, Nortek Inc., Xiamen Kehua Hengsheng Co. Ltd., Schneider Electric, Eaton Corporation plc, Riello Elettronica Group, and STULZ GmbH, are also going for partnerships and geographical expansion.

Thus, the increasing digitalization rate and power shortage will fuel the installation of critical power and cooling solutions in the foreseeable future.

Read More: https://www.psmarketresearch.com/market-analysis/critical-power-and-cooling-solutions-market

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