With the exploding population, which is increasingly moving into cities, the demand for electricity is rising. Electricity is the fuel which drives the economic engine of every country around the world. Though the demand for energy is rising, its supply is not always consistent, due to occasional fault in the grid or its unreliability in general (especially in the developing and under-developed countries). In several places, such as railways, data centers, hospitals, and critical laboratories, continuous power is of paramount importance, which makes uninterruptible power supply (UPS) quite important.

Thus, with the rising demand for energy, which is mostly not met, as a result of grid uncertainty, the critical power and cooling solutions market has a bright future ahead. While critical-power solutions include UPSs, generators, inverters, converters, power transfer switching, transfer switches, generator paralleling breakers, breaker transfer pairs, and switch transfer pairs, the cooling solutions encompass chillers, air conditioning, liquid cooling systems, economizer systems, cooling towers, control systems, humidifiers, pumping units, and air coolers. Such critical-cooling solutions are also important in hospitals and laboratories, along with IT-intensive settings, such as server rooms and data centers, where heat needs to be constantly expelled, to protect the equipment from damage.

Browse detailed report - Critical Power and Cooling Solutions Market Analysis and Demand Forecast Report

Presently, North America makes the largest contribution to the critical power and cooling solutions market, as the number of data centers and demand for efficient information storage systems are the highest here. Similarly, the region is also home to the most advanced healthcare sector and numerous globally operating banking, financial services, and insurance (BFSI) firms, such as JPMorgan Chase Co., Visa Inc., Mastercard Incorporated, Bank of America, and American Express. In the coming years, Asia-Pacific (APAC) would account for a significant procurement rate of critical power and cooling systems, owing to its increasing manufacturing output, rapid digitization, and advancements in the healthcare and BFSI industries.

Therefore, with the increasing demand for continuous electricity supply and cooling, the requirement for equipment which helps achieve these will also rise.