North America Data Center Cooling Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of North America Data Center Cooling Market
The North America data center cooling market size was valued at USD 5.90 billion in 2023. The market is projected to grow from USD 6.55 billion in 2024 to USD 14.95 billion by 2032, exhibiting a CAGR of 10.9% during the forecast period.
The transition to Electronic Medical Records (EMR) and the rise of IoT applications in healthcare are significantly increasing data storage demands, necessitating robust cooling solutions for data centers. Moreover, enhanced government initiatives to implement EHR systems are driving the creation of massive data sets, further fueling the need for efficient cooling infrastructure in data centers to manage the heat generated by high data volumes.
The COVID-19 pandemic hastened digital transformation across various sectors, resulting in a greater dependence on data centers and a surge in demand for cooling solutions. With the rapid expansion of online services and remote work, data center operators faced increased workloads. Although supply chain disruptions impacted the rollout of new cooling systems, the market for North America data center cooling ultimately experienced growth, soared by the need for efficient and reliable cooling infrastructure.
The rise of generative AI is driving higher data processing needs, resulting in more heat generation. This creates a greater demand for advanced cooling systems that can manage increased energy consumption.
Comprehensive Analysis of North America Data Center Cooling Market
On the basis of data center type, the market is fragmented into medium scale, large scale, and small scale. The large scale segment is slated to experience the highest growth rate owing to rising investments in advanced cooling solutions. In terms of solution, the market is fragmented into chilling units, liquid cooling, air conditioning, control systems, and others (pumping units, humidifiers, etc.). The air conditioning segment holds the key North America data center cooling market share, employed in medium and large data centers that ensures consistent and reliable cooling. As per industry, the market is classified into IT and telecom, manufacturing, retail, healthcare, energy and utilities, BFSI, and others (government and defense, education, etc.). The retail industry is projected to witness the highest growth rate, driven by the surge in e-commerce and digital transactions that necessitate secure data management.
The U.S. captures the largest market share due to its vast hyperscale and enterprise data centers, with major tech firms boosting demand for efficient cooling systems. Canada is witnessing steady growth, leveraging cooler climates for cost-effective cooling solutions. In Mexico, expanding e-commerce and manufacturing sectors are driving the need for efficient cooling as businesses enhance their IT infrastructure.
The top industry participants in the market are Asetek Inc. (Denmark), Daikin Industries, Ltd. (Japan), Danfoss (Denmark), Johnson Controls (Ireland), Madison Air (U.S.), Mitsubishi Electric Corporation (Japan), MODINE MANUFACTURING COMPANY (U.S.), Schneider Electric (France), STULZ GmbH (Germany), Thermal Care (U.S.), and Vertiv Group Corp. (U.S.). Key players in the North America data center cooling market are at the forefront of cutting-edge cooling technologies and energy-efficient solutions. They offer diverse products such as air conditioning and liquid cooling systems, catering to the needs of hyperscale, colocation, and enterprise data centers. By prioritizing innovation and sustainability, these leaders are well-positioned to address the increasing demand for efficient and environmentally friendly cooling solutions.
In March 2024, in a strategic partnership with NVIDIA, Schneider Electric aimed to advance data center infrastructure by creating reference designs for AI and digital twin technologies. These designs would focus on liquid cooling, high-power distribution, and user-friendly controls tailored to optimize NVIDIA’s data processing clusters, ensuring reliable performance in high-density environments.
Table of Segmentation
North America Data Center Cooling Market Scope
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 10.9% from 2024 to 2032
Unit Value (USD Billion)
Segmentation Data Center Type, Solution, Industry, and Country
By Data Center Type
Large Scale
Medium Scale
Small Scale
By Solution
Air Conditioning
Chilling Units
Liquid Cooling
Control Systems
Others (Pumping Units, Humidifiers, etc.)
By Industry
BFSI
IT and Telecom
Manufacturing
Retail
Healthcare
Energy and Utilities
Others (Government and Defense, Education, etc.)
By Country
U.S.
Canada
Mexico
- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 3.3. Impact of Generative AI
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. North America Data Center Cooling Key Players (Top 3-5) Market Share/Ranking, 2023
- 5. North America Data Center Cooling Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Data Center Type (USD)
- 5.2.1. Large Scale
- 5.2.2. Medium Scale
- 5.2.3. Small Scale
- 5.3. By Solution (USD)
- 5.3.1. Air Conditioning
- 5.3.2. Chilling Units
- 5.3.3. Liquid Cooling
- 5.3.4. Control Systems
- 5.3.5. Others (Pumping Units, Humidifiers)
- 5.4. By Industry (USD)
- 5.4.1. BFSI
- 5.4.2. IT and Telecom
- 5.4.3. Manufacturing
- 5.4.4. Retail
- 5.4.5. Healthcare
- 5.4.6. Energy and Utilities
- 5.4.7. Others (Government and Defense, Education)
- 5.5. By Country (USD)
- 5.5.1. United States
- 5.5.2. Canada
- 5.5.3. Mexico
- 6. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 6.1. Asetek Inc.
- 6.1.1. Overview
- 6.1.1.1. Key Management
- 6.1.1.2. Headquarters
- 6.1.1.3. Offerings/Business Segments
- 6.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 6.1.2.1. Employee Size
- 6.1.2.2. Past and Current Revenue
- 6.1.2.3. Geographical Share
- 6.1.2.4. Business Segment Share
- 6.1.2.5. Recent Developments
- 6.2. Daikin Industries, Ltd.
- 6.2.1. Overview
- 6.2.1.1. Key Management
- 6.2.1.2. Headquarters
- 6.2.1.3. Offerings/Business Segments
- 6.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 6.2.2.1. Employee Size
- 6.2.2.2. Past and Current Revenue
- 6.2.2.3. Geographical Share
- 6.2.2.4. Business Segment Share
- 6.2.2.5. Recent Developments
- 6.3. Danfoss
- 6.3.1. Overview
- 6.3.1.1. Key Management
- 6.3.1.2. Headquarters
- 6.3.1.3. Offerings/Business Segments
- 6.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 6.3.2.1. Employee Size
- 6.3.2.2. Past and Current Revenue
- 6.3.2.3. Geographical Share
- 6.3.2.4. Business Segment Share
- 6.3.2.5. Recent Developments
- 6.4. Johnson Controls
- 6.4.1. Overview
- 6.4.1.1. Key Management
- 6.4.1.2. Headquarters
- 6.4.1.3. Offerings/Business Segments
- 6.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 6.4.2.1. Employee Size
- 6.4.2.2. Past and Current Revenue
- 6.4.2.3. Geographical Share
- 6.4.2.4. Business Segment Share
- 6.4.2.5. Recent Developments
- 6.5. Madison Air
- 6.5.1. Overview
- 6.5.1.1. Key Management
- 6.5.1.2. Headquarters
- 6.5.1.3. Offerings/Business Segments
- 6.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 6.5.2.1. Employee Size
- 6.5.2.2. Past and Current Revenue
- 6.5.2.3. Geographical Share
- 6.5.2.4. Business Segment Share
- 6.5.2.5. Recent Developments
- 6.6. Mitsubishi Electric Corporation
- 6.6.1. Overview
- 6.6.1.1. Key Management
- 6.6.1.2. Headquarters
- 6.6.1.3. Offerings/Business Segments
- 6.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 6.6.2.1. Employee Size
- 6.6.2.2. Past and Current Revenue
- 6.6.2.3. Geographical Share
- 6.6.2.4. Business Segment Share
- 6.6.2.5. Recent Developments
- 6.7. MODINE MANUFACTURING COMPANY
- 6.7.1. Overview
- 6.7.1.1. Key Management
- 6.7.1.2. Headquarters
- 6.7.1.3. Offerings/Business Segments
- 6.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 6.7.2.1. Employee Size
- 6.7.2.2. Past and Current Revenue
- 6.7.2.3. Geographical Share
- 6.7.2.4. Business Segment Share
- 6.7.2.5. Recent Developments
- 6.8. Schneider Electric
- 6.8.1. Overview
- 6.8.1.1. Key Management
- 6.8.1.2. Headquarters
- 6.8.1.3. Offerings/Business Segments
- 6.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 6.8.2.1. Employee Size
- 6.8.2.2. Past and Current Revenue
- 6.8.2.3. Geographical Share
- 6.8.2.4. Business Segment Share
- 6.8.2.5. Recent Developments
- 6.9. STULZ GmbH
- 6.9.1. Overview
- 6.9.1.1. Key Management
- 6.9.1.2. Headquarters
- 6.9.1.3. Offerings/Business Segments
- 6.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 6.9.2.1. Employee Size
- 6.9.2.2. Past and Current Revenue
- 6.9.2.3. Geographical Share
- 6.9.2.4. Business Segment Share
- 6.9.2.5. Recent Developments
- 6.10. Thermal Care
- 6.10.1. Overview
- 6.10.1.1. Key Management
- 6.10.1.2. Headquarters
- 6.10.1.3. Offerings/Business Segments
- 6.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 6.10.2.1. Employee Size
- 6.10.2.2. Past and Current Revenue
- 6.10.2.3. Geographical Share
- 6.10.2.4. Business Segment Share
- 6.10.2.5. Recent Developments
- 6.11. Vertiv Group Corp.
- 6.11.1. Overview
- 6.11.1.1. Key Management
- 6.11.1.2. Headquarters
- 6.11.1.3. Offerings/Business Segments
- 6.11.2. Key Details (Key details are consolidated data and not product/service specific)
- 6.11.2.1. Employee Size
- 6.11.2.2. Past and Current Revenue
- 6.11.2.3. Geographical Share
- 6.11.2.4. Business Segment Share
- 6.11.2.5. Recent Developments
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