The North America rear door heat exchanger market was valued at US$ 265.64 million in 2022 and is expected to reach US$ 586.27 million by 2030; it is estimated to grow at a CAGR of 10.4% from 2022 to 2030.
Increasing Number of Data Centers Globally Fuels the North America Rear Door Heat Exchanger Market
With the increased demand for immediate data transfer in offices, data is taking longer to reach its destination. Most organizations depend on large, outsourced data centers, usually located far from their place of business. There are various benefits offered by data centers. They provide redundant backup and a secure offsite location for all the business data. They provide rack space, a secure facility, and internet connectivity to keep the business running if something out of the ordinary happens to the business server. If the business is dependent on having access to the internet data and operations 24x7x365, a data center is critical and can ensure that the internet data is accessible. The rear door heat exchangers are essential components in modern data centers because they provide efficient and targeted cooling, improve energy efficiency, enhance reliability, and help data center operators manage the thermal challenges posed by increasingly powerful IT equipment and high-density rack configurations.
According to the United States International Trade Commission (USITC):
In February 2023, AWS announced AWS Modular Data Center for the US Department of Defense Joint Warfighting Cloud Capability. The installations of data centers with high power density and critical capacities require power cables. Also, Schneider Electric and Compass Datacenters have announced a multi-year partnership valued at US$ 3 billion. The firms' current cooperation, which integrates their separate supply chains to produce and distribute prefabricated modular data center solutions, is extended by this arrangement.- Further, Skanska signed an agreement with an existing client to construct a US$ 171 million data center in Atlanta, US.
Hence, with an increasing number of data centers, the demand for rear heat exchangers is rising significantly, as the rear door heat exchangers are widely used for supporting high-density data centers.
North America Rear Door Heat Overview
Data centers play a crucial role in the future of North America's economy. As more businesses and users move to the digital sphere, the need for efficient information processing is growing. Data centers are communication network connectors, so users can gain rapid access to information even by working remotely. According to the report of the United States International Trade Commission (USITC), the US data center sector is anticipated to be valued at US$ 99.97 billion in 2023. There are 8,000 data centers worldwide. Of these, 33% of data centers are located in the US. The top five drivers for the data center market in North America are digitization, remote work, digital technologies, AI & ML, OTT services, and IoT. In the region, the data center growth is showing no sign of slowing down. The demand for more digital access, storage, and data processes is constantly rising. Further, according to Statistics Canada, the percentage of core-age employees working from home was ~XX% in May 2020 in Canada. By December 2021, 26% of core-age employees in Canada worked from home. 90% of teleworkers reported consistent or higher productivity rates working remotely, compared with in-office work, and 41% of teleworkers preferred to work half of their weekly hours remotely. The combination of a tech-savvy society and remote working trends means a perpetual increase in the data center market size in North America.
Additionally, there are two other reasons for the growth of data centers: Internet of Things (IoT) and AI. As more and more devices are connecting to the internet daily, the amount of data that is being generated is increasing. Hence, there is a need for more data centers in the region to store this massive data. Rear door heat exchangers are widely used in data centers to keep both airstreams separated by transferring the heat from the inside to the outside of the data center building. Hence, with the increasing demand for data centers in North America, the need for rear door heat exchangers is increasing significantly.
North America Rear Door Heat Revenue and Forecast to 2030 (US$ Million)
Strategic insights for the North America Rear Door Heat Exchanger provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Report Attribute | Details |
---|---|
Market size in 2022 | US$ 265.64 Million |
Market Size by 2030 | US$ 586.27 Million |
Global CAGR (2022 - 2030) | 10.4% |
Historical Data | 2020-2021 |
Forecast period | 2023-2030 |
Segments Covered |
By Type
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
The geographic scope of the North America Rear Door Heat Exchanger refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
North America Rear Door Heat Exchanger Market Segmentation
The North America rear door heat exchanger market is segmented based on type, end user, and country.
Based on type, the North America rear door heat exchanger market is bifurcated into active and passive. The active segment held a larger share in 2022.
By end user, the North America rear door heat exchanger market is segmented into data center, IT and telecommunication, semiconductor, education, government, and others. The data center segment held the largest share in 2022.
Based on country, the North America rear door heat exchanger market is segmented into the US, Canada, and Mexico. The US dominated the North America rear door heat exchanger market in 2022.
Airedale International Air Conditioning Ltd; Coolcentric; CoolIT Systems Inc; International Business Machines Corp; Motivair Corporation; Nortek Air Solutions, LLC; nVent Electric plc; Stulz UK Ltd; USystems Limited; and Vertiv Group Corp. are some of the leading companies operating in the North America rear door heat exchanger market.
1. Airedale International Air Conditioning Ltd
2. Coolcentric
3. CoolIT Systems Inc
4. International Business Machines Corp
5. Motivair Corporation
6. Nortek Air Solutions, LLC
7. nVent Electric plc
8. Stulz UK Ltd
9. USystems Limited
10. Vertiv Group Corp.
The North America Rear Door Heat Exchanger Market is valued at US$ 265.64 Million in 2022, it is projected to reach US$ 586.27 Million by 2030.
As per our report North America Rear Door Heat Exchanger Market, the market size is valued at US$ 265.64 Million in 2022, projecting it to reach US$ 586.27 Million by 2030. This translates to a CAGR of approximately 10.4% during the forecast period.
The North America Rear Door Heat Exchanger Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Rear Door Heat Exchanger Market report:
The North America Rear Door Heat Exchanger Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Rear Door Heat Exchanger Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Rear Door Heat Exchanger Market value chain can benefit from the information contained in a comprehensive market report.