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Data Center Refrigerant Market Size
- Report ID: GMI10746
- Published Date: Aug 2024
- Report Format: PDF
Data Center Refrigerant Market Size
Data Center Refrigerant Market was valued at USD 581.1 million in 2023 and is estimated to register a CAGR of over 9% between 2024 & 2032. The market growth is driven by the rise of cloud computing services and ongoing innovations in cooling technologies.
The adoption of waterless cooling systems to reduce water consumption and enhance energy efficiency is driving the market growth of data center refrigerants. These systems offer significant operational benefits by eliminating water use and lowering energy costs. For instance, in October 2023, ThermalWorks introduced an innovative waterless cooling system for the evolving data center industry. This ultra-efficient, modular design aims to transform traditional data center operations by reducing energy consumption and eliminating water use in cooling processes.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Data Center Refrigerant Market Size in 2023: | USD 581.1 Million |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 9% |
| 2032 Value Projection: | USD 1.2 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 220 |
| Tables, Charts & Figures: | 340 |
| Segments covered: | Refrigerant, Data Center, Cooling, Application, End-Use |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Additionally, the rising demand for hyperscale data centers is providing significant market opportunities for the data center refrigerant market. Hyperscale facilities, operated by major cloud service providers such as Amazon, Google, and Microsoft, require advanced cooling solutions to manage high-density server environments. As these companies expand their global footprint to meet the surging data storage and processing needs, the adoption of efficient and environmentally friendly refrigerants becomes crucial. Advanced refrigerants such as HFOs, known for their low global warming potential (GWP), are increasingly preferred to ensure optimal cooling efficiency and regulatory compliance, thus driving market growth.
The high initial cost associated with transitioning to advanced, environmentally friendly refrigerants is hampering the market growth of the market. Implementing these new refrigerants often requires substantial investment in upgrading or replacing existing cooling infrastructure. Additionally, the need for specialized equipment and retrofitting current systems can lead to increased capital expenditure. Smaller data centers or companies with limited budgets may find it challenging to bear these costs, hindering widespread adoption in the market.
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Data Center Refrigerant Market Scope
