1 Global Market Size (Revenue) of IT Cooling System (2025-2033)
The global IT cooling systems market size will reach USD 4,342.46 million in 2025 and is expected to grow to USD 10,683.77 million by 2033, showing strong growth momentum. During this 8-year period, the market revenue grew at a compound annual growth rate (CAGR) of 11.91%, a solid growth trend that reflects the continued rise in global demand for IT cooling systems.
Figure Global IT Cooling System Revenue (M USD) Outlook (2025-2033)
2 IT Cooling System Market Growth Drivers
The power increase of a single cabinet in the data center drives the development of the IT Cooling System industry.
According to Microsoft data, the training data of the previous generation basic model of ChatGPT – GPT3.0 is as high as 45TB, and the total training equipment includes 285,000 CPUs and more than 10,000 NVIDIA V100 GPUs. As Internet companies successively launch their own AIGC computing power models, the demand for AI servers is increasing rapidly. AI servers use a large number of high-power CPU and GPU chips, driving the power and heat density of the entire AI server to increase. (1) CPU power consumption continues to increase: As the number of cores increases, processor performance and power increase simultaneously, which directly leads to a corresponding increase in CPU heat flow density and an increase in the overall heat density inside the server cabinet. (2) The use of GPUs is increasing: GPUs are composed of hundreds of cores and can handle thousands of threads at the same time, resulting in higher power consumption. (3) Low latency requirements lead to increased thermal density: As the performance of server components increases, the interconnections between different components begin to become a bottleneck in terms of latency. To take full advantage of increased component performance, CPUs, GPUs, and other components on the board are arranged more closely to reduce latency, which also increases the physical density and temperatures inside servers.
At the same time, the chip’s computing power and its power consumption have increased significantly. In 2022, the power consumption of a single CPU of Intel’s fourth-generation server processor has exceeded 350 watts, and the power consumption of a single NVIDIA GPU chip has exceeded 700 watts. The continuous advancement of IT technology and computing power consumption have continuously increased the load capacity requirements of data centers.
Therefore, increasing the power density of a single cabinet has become a key solution to reconcile the growing demand for computing power and the limited carrying capacity of the data center. In the context of the rapid increase in the proportion of high-power data center cabinets, higher requirements have been placed on equipment heat dissipation and cooling. Therefore, the IT Cooling System market demand is growing.
Data centers are developing rapidly and cooling needs are increasing.
In recent years, with the rapid development of new technologies and applications such as 5G, industrial Internet, artificial intelligence, cloud computing, and big data, the demand for storage, computing, and application of data resources has increased significantly, driving the construction demand for data centers. The continuous advancement of industrial modernization has created a large demand for data center computing power, and the market prospects are broad. The user market in highly digital industries such as e-commerce, finance, and communications continue to expand, and the demand in the data center industry continues to increase. As the scale of data centers expands, computing power and power density continue to increase, and the energy consumption supporting the operation of IT equipment also increases rapidly. The high energy consumption of data computing, storage, and exchange is accompanied by the huge heat generated by the equipment. IT equipment converts more than 99% of the electrical energy into heat energy. The heat energy needs to be removed by the data center through the heat dissipation and cooling system. The IT Cooling System can solve the problem of accumulating heat energy in the data center. This brings vast development space and market potential to the IT Cooling System market. With the rapid development of global digitalization, the data center industry has attracted the attention of countries around the world, and the market size has grown year by year, thus promoting the growth of the IT Cooling System market.
3 Global IT Cooling System Revenue and Share by Type (2020-2025)
Small and medium-sized systems accounted for a major share of the global IT cooling systems market, and this trend has maintained a relatively steady growth between 2020 and 2025. In 2020, small and medium-sized systems accounted for 69.78% of the market share, with global revenues of USD 2112.82 million. In subsequent years, revenues in general appear to continue to grow despite a decline in market share: in 2021 revenues were USD 1991.62 million, with market share dropping to 68.12%; In 2022 revenues increased to USD 2,230.42 million, with a 66.26% market share; and in 2023 revenues continued to grow to USD 2,475.11 million, with a market share of 64.43%; by 2024, revenues increase to USD 2,723.84 million with a slight decline in market share to 62.73%; and finally in 2025, revenues are expected to further increase to USD 2,986.83 million with a market share of 61.58%.
This data segment indicates that despite a slight year-on-year decline in the share of Small and medium-sized systems in the global IT cooling systems market, the segment continues to witness a steady growth in revenue, indicating strong market demand and growth potential. This may reflect the continued demand for efficient cooling solutions for data centers and IT infrastructures globally, especially among Small and medium-sized systems, which may prefer cost-effective cooling systems that are easy to deploy and maintain. Small and medium-sized systems are expected to continue to play an important role in global IT cooling systems as technology continues to advance and market demand for energy-efficient solutions increases.
Table Global IT Cooling System Revenue (M USD) by Type (2020-2025)
|
|
2020 |
2021 |
2022 |
2023 |
2024 |
2025 |
|
2112.82 |
1991.62 |
2230.42 |
2475.11 |
2723.84 |
2986.83 | |
|
Large systems |
914.96 |
932.22 |
1135.96 |
1366.50 |
1618.62 |
1863.19 |
|
Total |
3027.78 |
2923.84 |
3366.38 |
3841.61 |
4342.46 |
4850.03 |
Table Global IT Cooling System Revenue Market Share by Type (2020-2025)
|
|
2020 |
2021 |
2022 |
2023 |
2024 |
2025 |
|
Small and medium-sized systems |
69.78% |
68.12% |
66.26% |
64.43% |
62.73% |
61.58% |
|
Large systems |
30.22% |
31.88% |
33.74% |
35.57% |
37.27% |
38.42% |
|
Total |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
4 Global IT Cooling System Revenue and Share by Application (2020-2025)
Telecommunication application has shown a significant growth trend in terms of revenue and market share in the global IT cooling systems market. In 2020, telecommunication application accounted for 24.21% of the global IT cooling systems market with a revenue of USD 733.16 million. Subsequently, both this revenue and market share as a whole show year-on-year growth: in 2021, the revenue grows to USD 731.68 million and the market share increases slightly to 25.02%; In 2022, the revenue increases to USD 869.64 million and the market share is 25.83%; In 2023, the revenue further increases to USD 1,026.36 million and the market share expands to 26.72%; by 2024, the revenue from telecom applications reached USD 1194.40 million and the market share grew to 27.51%; and finally in 2025, the revenue increased to USD 1363.42 million and the market share was 28.11%.
Overall, telecommunication applications are holding an increasingly important share of the global IT cooling systems market and are growing rapidly in terms of revenue. This trend reflects the continued growth in demand for IT cooling systems in the telecom industry, especially against the backdrop of surging data traffic and the rapid development of 5G technology, which has resulted in a growing need for efficient cooling solutions for telecom infrastructure. With the accelerating global digitization and expanding telecom services, telecom applications are expected to retain their importance in the global IT cooling systems market and continue to drive market revenue growth.
Table Global IT Cooling System Revenue (M USD) by Application (2020-2025)
|
|
2020 |
2021 |
2022 |
2023 |
2024 |
2025 |
|
Financial Data Center |
434.77 |
414.60 |
536.70 |
636.40 |
750.94 |
849.50 |
|
Internet Data Center |
695.82 |
710.20 |
794.30 |
917.48 |
1049.40 |
1173.37 |
|
Telecommunication |
733.16 |
731.68 |
869.64 |
1026.36 |
1194.40 |
1363.42 |
|
Energy |
439.40 |
408.74 |
455.06 |
501.42 |
543.93 |
584.35 |
|
Others |
724.63 |
658.62 |
710.68 |
759.95 |
803.80 |
879.39 |
|
Total |
3027.78 |
2923.84 |
3366.38 |
3841.61 |
4342.46 |
4850.03 |
Table Global IT Cooling System Revenue Market Share by Application (2020-2025)
|
|
2020 |
2021 |
2022 |
2023 |
2024 |
2025 |
|
Financial Data Center |
14.36% |
14.18% |
15.94% |
16.57% |
17.29% |
17.52% |
|
Internet Data Center |
22.98% |
24.29% |
23.59% |
23.88% |
24.17% |
24.19% |
|
Telecommunication |
24.21% |
25.02% |
25.83% |
26.72% |
27.51% |
28.11% |
|
Energy |
14.51% |
13.98% |
13.52% |
13.05% |
12.53% |
12.05% |
|
Others |
23.93% |
22.53% |
21.11% |
19.78% |
18.51% |
18.13% |
|
Total |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
5 Global IT Cooling System Revenue Share by Players (2020-2025)
Vertiv Holdings Co, Schneider, and STULZ hold a significant market share in the global IT cooling systems market and their respective shares have varied over time. Vertiv Holdings Co has a market share of 15.25% in 2020, which gradually increases in the subsequent years to reach 19.30% by 2025, demonstrating its growth momentum in the global market. Schneider’s market share of 14.06% in 2020 increases marginally to 15.49% by 2025, indicating that the company maintains a relatively stable growth in the market. STULZ has a market share of 15.33% in 2020, but decreases slightly to 13.23% by 2025, which may imply the company’s company has become less competitive in the global market or the market strategy needs to be adjusted.
The change in market share of these three companies reflects their competitive strategies in terms of product innovation, market expansion, and customer service. The sustained growth of Vertiv Holdings Co suggests that the company may be successful in expanding its market presence or its products and services are widely recognized in the market. The steady growth of Schneider shows its solid performance in the market, possibly due to its strong brand name. This may be due to its strong brand presence and global operating network. In contrast, STULZ’s declining market share may require the company to further analyze market trends, strengthen product competitiveness, or adjust its market strategy to meet changing market demands. Overall, these three companies play an important role in the global IT cooling systems market, and their market performance has a significant impact on the overall industry trend.
Table IT Cooling System Revenue Market Share by Player (2020-2025)
|
|
2020 |
2021 |
2022 |
2023 |
2024 |
2025 |
|
Vertiv Holdings Co |
15.25% |
15.58% |
16.12% |
16.93% |
18.44% |
19.30% |
|
Schneider |
14.06% |
15.02% |
14.96% |
15.63% |
15.36% |
15.49% |
|
STULZ |
15.33% |
15.14% |
15.25% |
14.68% |
13.71% |
13.23% |
|
Mitsubishi Electric |
9.13% |
9.56% |
9.19% |
9.05% |
9.51% |
9.46% |
|
Nortek Air Solutions, LLC |
5.96% |
6.08% |
6.18% |
6.01% |
6.05% |
5.96% |
|
Siemens |
6.57% |
6.66% |
6.31% |
5.86% |
5.56% |
5.46% |
|
Rittal |
6.29% |
5.95% |
5.88% |
5.68% |
5.51% |
5.57% |
|
Coolcentric |
2.65% |
2.55% |
2.53% |
2.62% |
2.74% |
2.79% |
|
Airedale |
1.39% |
1.36% |
1.29% |
1.21% |
1.15% |
1.13% |
|
Others |
23.37% |
22.09% |
22.28% |
22.33% |
21.97% |
21.61% |
|
Total |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Vertiv Holdings Co is a prominent player in the IT cooling systems market, exhibiting an overall growth trajectory from 2020 to 2025. In 2020, the company recorded revenues of USD 461.87 million, capturing 15.25% of the market share. This growth continues through 2021, when revenue declines slightly to USD 455.59 million, but market share increases to 15.58%. The following year, 2022, revenues rebounded to USD 542.82 million, with a market share of 16.12%. This upward trend continued into 2023, when revenues climbed to USD 650.45 million and market share was 16.93 %. And in 2024 saw Vertiv Holdings Inc. achieve a significant milestone, reaching USD 800.83 million in revenues and expanding its market share to 18.44 %. Finally, in 2025, the company’s revenues peaked at USD 936.01 million with a market share of 19.30%, demonstrating a strong growth rate and leading position in the global IT cooling systems market. This continuous growth and increasing market share emphasizes the strength and influence of Vertiv Holdings Co in the industry.
Figure Vertiv Holdings Co Revenue (M USD) 2020-2025
6 Global IT Cooling System Market Size (Revenue) and CAGR (%) Comparison by Region
The U.S. occupies an important position in the global IT cooling systems market, with its market size and compound annual growth rate (CAGR) showing strong growth momentum. The U.S. IT cooling systems market size was USD 1,499.66 million in 2020, and grew to USD 2,156.90 million in 2025, showing a clear expansion trend. This is projected to grow significantly to USD 5,333.43 million by 2033, reflecting the huge potential and scope for growth of the market. The U.S. market is growing at a CAGR of 11.98% between 2025 and 2033, and this robust growth rate signals that the U.S. market will continue to maintain its leadership position in the global IT cooling systems market in the coming years. With the rapid growth of data centers and increasing demand for high-performance cooling solutions, the IT cooling systems market in the U.S. is expected to continue to grow, especially as the demand for data center cooling will further increase, driven by the development of technological areas such as cloud computing, big data, and artificial intelligence, which will in turn propel the expansion of the market size and the growth of the CAGR.
Figure Global IT Cooling System Market Size (Revenue, M USD) and CAGR (%) (2020 & 2025 & 2033)
|
|
2020 |
2025 |
2033 |
CAGR 25-33 |
|
United States |
1499.66 |
2156.90 |
5333.43 |
11.98% |
|
Europe |
801.45 |
1140.84 |
2766.81 |
11.71% |
|
China |
159.56 |
258.70 |
800.30 |
15.16% |
|
Japan |
64.79 |
87.83 |
192.42 |
10.30% |
|
India |
37.85 |
58.94 |
169.39 |
14.11% |
|
Southeast Asia |
61.77 |
84.63 |
190.89 |
10.70% |
|
Latin America |
123.23 |
178.64 |
447.89 |
12.18% |
|
Middle East and Africa |
75.09 |
104.96 |
245.07 |
11.18% |
|
Others |
204.38 |
271.03 |
537.59 |
8.94% |
|
Total |
3027.78 |
4342.46 |
10683.77 |
11.91% |
