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Liquid Cooling Systems Market Expected to Reach $12.99 Billion by 2030

 
2022
Liquid Cooling Systems Market

Report Code : A13116

quote The global liquid cooling systems market is expected to witness a considerable growth, owing to increase in demand for data center solution, especially in emerging regions such as Asia-Pacific and Europe. Furthermore, emergence of sustainable cooling technologies is anticipated to create potential opportunities for the market growth during the forecast period. quote

Pramod Borasi
Senior Research Analyst, ICT and BFSI

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According to a new report published by Allied Market Research, titled, “Liquid cooling systems market by Component, Type, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global liquid cooling systems market size was valued at $2.75 billion in 2020, and is projected to reach $12.99 billion by 2030, registering a CAGR of 17.1% from 2021 to 2030.

A liquid cooling system is an innovative technology that reduces heat in mechanical and electronic devices by exploiting the properties of liquids. The liquid cooling system is designed with a closed system of tubes that is intended to carry liquid substances such as water from one electronic component to another. However, poor implementation of the liquid cooling system is likely to cause leaks that may result in electronic component damage.

Furthermore, a traditional air cooling system such as air-cooled PC server generates noise while devices are overworked. In contrast, liquid cooling systems with low-powered fans enhance ventilation inside the electronic application, therefore generating discernible noise.  Moreover, increase in data center application is creating multiple complexities for prime enterprises propelling the need for next-generation cooling systems.  

Surge in technological innovation in IT infrastructure and rise in demand for liquid cooling system among smartphone manufacturers for thermal management are the key factors that notably contribute toward the growth of the global liquid cooling systems market. However, high cost associated with the installation of the liquid cooling system is anticipated to restrain the market. On the contrary, surge in demand for next-generation liquid cooling system across data centers globally coupled with the rise in need for in-built serve rooms across industries with mild temperature is expected to drive the need for the liquid cooling systems, which is anticipated to offer potential growth opportunities for the market during the forecast period.

According to liquid cooling systems market trends, the solutions segment was the highest contributor to the market in 2020. The IT & telecom and BFSI segments collectively accounted for around 51.3% market share in 2020. Rise in technological advancement in data centers has driven the growth of solution segment.

The outbreak of the COVID-19 has significantly impacted the global liquid cooling system industry. This is attributed to delay in deployment and construction of liquid cooling-based electronics application across prime enterprises and regions, which has significantly declined the growth of liquid cooling system during the pandemic. However, rise in demand for cloud computing solutions and datacenters propel the need for liquid cooling systems. Furthermore, the IT & telecommunication sector exhibited high growth potential in the deployment of liquid cooling systems, owing to rise in demand for build-in server rooms with liquid cooling system is forecast to drive the liquid cooling systems market analysis post-pandemic.

On the basis of industry vertical, the IT & telecom segment dominated the liquid cooling systems market share in 2020, and is expected to maintain its dominance in the upcoming years, owing to rise in the shift towards high-end datacenter across the IT & telecommunication sector is driving the need for a liquid cooling systems market.

However, the healthcare segment is expected to witness highest growth rate in the upcoming years, owing to surge in the adoption of the liquid cooling system primarily to manage and deploy HAVC and electronics applications to boost smart infrastructure across the healthcare sector, which is expected to propel the growth of the liquid cooling systems market during the forecast period. Moreover, the water-based cooling system has been gaining traction in the healthcare sector due to numerous initiatives by prime vendors to propel the growth opportunities for the market growth.

Region wise, the liquid cooling systems market was dominated by North America in 2020, and is expected to retain its position during the forecast period. This is attributed to the presence of prime vendors in the region and availability of advanced technological solutions. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period, owing to growing deployment of 5G technology across China and Japan and rise in additional initiatives by a prime player in this region to promote artificial intelligence-powered solutions is anticipated to drive the market growth.

Key Findings of the Study

  • In 2020, the solution segment accounted for the maximum revenue, and is projected to grow at a notable CAGR of 16.3% during the forecast period.
  • The direct liquid cooling segment is projected to growth at a CAGR of 17.9% during the forecast period.
  • North America contributed for the major share in liquid cooling systems market, accounting for more than 13.9% share in 2020.

The key players profiled in the liquid cooling systems industry include Allied Control Ltd., Asetek, Inc., Rittal GmbH & Co. KG, Schneider Electric SE, Boyd Corporation, CooIIT Systems, Inc., Emerson Electric Co., Green Revolution Cooling Inc., Laird Thermal Systems, and Midas Green Technologies LLC. These players have adopted various strategies such as product launch, collaboration & partnership, joint venture, and acquisition to strengthen their foothold in the liquid cooling systems industry.

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quote Liquid Cooling Systems Market by Component (Solution and Services), Type (Liquid Heat Exchanger Systems and Compressor-based Systems), and End User (BFSI, Manufacturing, IT & Telecom, Media & Entertainment, Retail, Government & Defense, Healthcare, Energy, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030 quote

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