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Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Liquid Cooling Systems Market Size

The global liquid cooling systems market is expected to grow by USD 6.73 billion at a CAGR of 10.0% during the forecast period of 2024-2032. The market is further to reach a value of USD 15.9 billion in 2032.

Global Liquid Cooling Systems Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 6.73
Market Size 2032 USD Billion 15.9
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 10.0%
CAGR 2024-2032 - Market by Region Asia Pacific 10.8%
CAGR 2024-2032 - Market by Country India 12.4%
CAGR 2024-2032 - Market by Country Brazil 10.7%
CAGR 2024-2032 - Market by Product Type Compressor-based Systems (Recirculating Chillers) 10.9%
CAGR 2024-2032 - Market by End Use Data Centre 11.3%
Market Share by Country 2023 Italy 3.4%

Global Liquid Cooling Systems Market

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Liquid Cooling Systems Market Growth

With the rapid technological advancements, smartphone manufacturers are transforming the products into pocket-fitting mini-computers. The increased penetration of the Internet of Things (IoT) and the rapid development of artificial intelligence (AI) technology are driving the growth of the liquid cooling systems market. Numerous industrial verticals such as food and drinks, healthcare, data centres, and telecommunications require control over liquid media for industrial activities within a specified temperature range, which is aiding the market growth.

Liquid Cooling Systems Market Trends

With the increasing penetration of smartphones, especially in emerging economies, the demand for thermal management has increased, leading to increased incorporation of liquid cooling alternatives in smartphones, which is driving the market growth. Also, the increasing worries about thermal management in engineering applications such as nuclear reactors, industrial heat exchangers, micro equipment, and others, is a key trend in liquid cooling systems market where liquid cooling systems can play a crucial role. Further, a strategic collaboration by major players with technological giants, healthcare industries, and data centres to provide customisable solutions to the consumers is further aiding the market for liquid cooling systems globally.

Recent Developments

As per the liquid cooling system market dynamics and trends, Microsoft announced that it is adopting direct-to-chip liquid cooling technology in July 2024. The company is also developing a new generation of data center designs for direct-to-chip cooling.

Industry Outlook

According to United States International Trade Commission, the United States leads the number of data centre, globally, with 33%, driven by its tech giants and robust infrastructure. As per the liquid cooling systems industry analysis, the UK follows with 6%, reflecting its status as a European tech hub with advanced digital infrastructure.

China and Germany each hold 5%, with China's rapid technological growth and Germany's strong industrial base contributing to their shares. Canada, Australia, France, Japan, and the Netherlands each have 3%, while Russia, Mexico, Brazil, and Italy each hold 2%, supported by their growing digital economies. The remaining 26% is distributed among other countries, indicating the global nature of data storage needs. This distribution highlights the economic and technological capabilities of these nations, with the US leading due to its infrastructure and demand for digital services and boosts the growth of the liquid cooling systems industry.

Meta Platforms (Facebook) owns the largest data center in the U.S., covering 4.6 million square feet in Prineville, Oregon, a city about 150 miles southeast of Portland. Northern Virginia is the largest data center market in the United States. This region includes Loudoun County (Ashburn, Sterling, Leesburg, Arcola), Prince William County (Manassas, Gainesville, Haymarket), and Fairfax County (Reston, Herndon, Chantilly, Vienna, McLean, Tysons), among others. The data centers in Northern Virginia are primarily powered by Dominion Energy, the largest electric utility in the area, with NOVEC (Northern Virginia Electric Cooperative) also being a significant power provider, which can further boost the liquid cooling systems industry revenue. Major cloud computing services operating in this region include Amazon Web Services (AWS), Microsoft Azure, Google Cloud, and Meta Platforms (Facebook).

Factors Contributing to the Growth of the Market Globally

  • Increasing demand for efficient cooling solutions in expanding data centers.
  • Growing adoption of HPC systems that generate substantial heat can aid liquid cooling systems demand growth.
  • Rising concerns over energy efficiency and carbon emissions.
  • Continuous improvements in liquid cooling technologies.
  • Expansion of cryptocurrency mining operations requiring advanced cooling solutions.

Challenges Faced by Manufacturers in the Global Liquid Cooling Systems Market Share

  • Significant upfront investment required for liquid cooling systems compared to traditional air cooling methods can affect liquid cooling systems demand forecast.
  • Ensuring compatibility with existing IT infrastructure and equipment can be challenging.
  • Managing the potential risks associated with liquid coolants, including leaks and spills. 
  • Intense competition from established air-cooling solutions and emerging alternative technologies.
  • Meeting specific and diverse customer requirements for customized cooling solutions.

Key Growth Opportunities in the Global Liquid Cooling Systems Market

  • Increasing construction of new data centers and upgrading existing facilities can boost liquid cooling systems market opportunities.
  • Growing emphasis on energy efficiency and environmental sustainability.
  • Growth of edge computing infrastructure needing advanced cooling solutions.
  • Adoption of liquid cooling in electric vehicle manufacturing and battery cooling.
  • Continuous innovation and development of more efficient and cost-effective liquid cooling solutions.

Global Liquid Cooling Systems Market

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Liquid Cooling Systems Industry Segmentations

The liquid cooling systems industry is segmented on the basis of its product type, company size, and end-use. Based on its product, the market can be divided into:

  • Liquid Heat Exchanger Systems
    • Liquid-to-air Systems
    • Liquid-to-liquid Systems
  • Compressor-based Systems (Recirculating Chillers)
CAGR 2024-2032 - Market by Product Type
Compressor-based Systems (Recirculating Chillers) 10.9%
Liquid Heat Exchanger Systems XX%

Based on its end-use, the industry can be segmented as:

  • Healthcare
  • Analytical Equipment
  • Industrial
  • Data Centre
  • Telecommunication
  • Automotive
  • Military
CAGR 2024-2032 - Market by End Use
Data Centre 11.3%
Analytical Equipment 10.7%
Automotive 10.3%
Healthcare XX%
Industrial XX%
Telecommunication XX%
Military XX%

The EMR report looks into the regional liquid cooling system markets like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.

CAGR 2024-2032 - Market by Region
Asia Pacific 10.8%
North America 10.3%
Europe XX%
Latin America XX%
Middle East and Africa XX%
CAGR 2024-2032 - Market by Country
India 12.4%
Brazil 10.7%
UK 10.4%
China 10.3%
USA 10.2%
Canada XX%
Germany 9.4%
France XX%
Italy XX%
Japan XX%
Australia XX%
Mexico XX%
Saudi Arabia 9.3%
2023 Market Share by Country
Italy 3.4%
USA XX%
Canada XX%
UK XX%

Competitive Landscape

The report presents a detailed analysis of the following key players in the global liquid cooling systems industry, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Laird Thermal Systems
  • Boyd Corporation
  • Rittal GmbH and Co. Kg.
  • Asetek A/S (FRA: A31)
  • Schneider Electric SE (EPA: SU)
  • Green Revolution Cooling Inc.
  • Midas Green Technologies LLC
  • Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s five forces.

Global Liquid Cooling Systems Market

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Liquid Cooling Systems Market Regional Analysis

North America accounts for a major market share owing to the rapid electrification and urbanisation in the region which necessitates the demand for effective liquid cooling solutions. Growing research and developmental efforts in developing high-end liquid cooling system is also expected to contribute to the market growth.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product Type
  • End Use
  • Region
Breakup by Product Type
  • Liquid Heat Exchanger Systems
  • Compressor-based Systems (Recirculating Chillers)
Breakup by End Use
  • Healthcare
  • Analytical Equipment
  • Industrial
  • Data Centre
  • Telecommunication
  • Automotive
  • Military
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Laird Thermal Systems, Inc.
  • Boyd Corporation
  • Rittal GmbH & Co. KG
  • Asetek, Inc.
  • Schneider Electric
  • Green Revolution Cooling, Inc.
  • Midas Green Technologies LLC
  • Others
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Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

Liquid Cooling Systems Market Report Snapshots

Liquid Cooling Systems Market Size

Liquid Cooling Systems Market Growth

Liquid Cooling Systems Market Trends

Liquid Cooling Systems Market Analysis

Liquid Cooling Systems Companies

Liquid Cooling Systems Market Regional Analysis

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The global liquid cooling systems market is projected to grow at a CAGR of 10% between 2024 and 2032.

The market is being driven by the rising market ownership of smartphones, which drives the demand for thermal management.

The market growth can be associated with the rising use of thermal management in engineering applications, such as nuclear reactors and micro equipment, among others.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major product types of liquid cooling systems are liquid heat exchanger systems and compressor-based systems (recirculating chillers).

The significant end uses of liquid cooling systems include healthcare, analytical equipment, industrial, data centre, telecommunication, automotive, and military.

The major players in the industry are Laird Thermal Systems, Inc., Boyd Corporation, Rittal GmbH & Co. KG., Asetek, Inc., Schneider Electric, Green Revolution Cooling, Inc., and Midas Green Technologies LLC, among others.

The global liquid cooling systems market reached a value of USD 6.73 billion in 2023.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 15.9 billion by 2032.

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