Data center cooling is a critical part of digital infrastructure, helping maintain stable operating conditions for servers, storage systems, and networking equipment. The market includes conventional air cooling as well as advanced liquid cooling solutions designed for increasingly demanding computing environments. According to the Data Center Cooling Market Share analysis, the global market was valued at USD 9.1 billion in 2024 and is forecast to reach USD 17.1 billion by 2031, expanding at a CAGR of 11.2% from 2025 to 2031.
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Market Share by Key Segments
Air Cooling: Leading Cooling Type
Air cooling was expected to account for the dominant share of the market, supported by its established deployment across existing data centers, compatibility with conventional infrastructure, and broad availability of cooling equipment. Liquid cooling, however, was projected to grow faster as AI and high-performance computing increase thermal requirements.
Perimeter Cooling: Leading Air-Cooling Product
Perimeter cooling was expected to maintain the largest share among air-cooling products, reflecting its widespread use in traditional data center facilities. Air handling units were projected to grow faster as operators seek more targeted and efficient airflow management.
Rack-Based Cooling: Leading Structure Type
Rack-based cooling was expected to contribute the largest share and register the fastest growth among structure types. These systems position cooling closer to server heat loads and are increasingly relevant for high-density computing environments.
North America: Largest Regional Market
North America was expected to remain the largest regional market, supported by its established data center ecosystem, strong cloud infrastructure, and investments from major technology companies.
Market Segmentation Insights
The market is categorized by:
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Cooling type: Air cooling and liquid cooling.
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Product type: Perimeter cooling, air handling units, other air-cooling products, direct-to-chip cooling, immersion cooling, and other liquid-cooling products.
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Structure type: Room-based, rack-based, and row-based.
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End-use industry: IT and telecom, retail, healthcare, BFSI, media and entertainment, and other industries.
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Region: North America, Europe, Asia-Pacific, and Rest of the World.
BFSI was identified as a leading end-use industry, supported by digital banking, online transactions, AI-enabled financial services, and the need for reliable data infrastructure.
Competitive Landscape
The market features established cooling and thermal-management companies, including:
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Vertiv Group Corp.
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Johnson Controls International
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STULZ GmbH
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Airedale by Modine
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Trane Technologies
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Carrier Global Corporation
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Daikin Industries, Ltd.
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Schneider Electric SE
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CoolIT Systems
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Fujitsu Limited
The report describes the market as moderately concentrated, with more than 40 active companies operating across different regions and product categories. It does not disclose exact market-share percentages for each company in its public summary.
Conclusion
Market positioning is shaped by established air-cooling deployments, growing rack-based cooling requirements, and the increasing adoption of liquid cooling. North America remains the largest regional market, while changing computing workloads are creating opportunities across cooling technologies and end-use industries.
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