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Growing with CAGR of 17.1% | The Liquid Cooling Systems Market Size Reach USD 12.99 Billion by 2030
Increase in demand from gaming and IT industries and generation of massive volume of data in data centers drive the growth of the global liquid cooling systems market. Surge in demand for computer applications from residential and commercial sectors along with rise in demand for data center services led to the liquid cooling systems market growth during the Covid-19 pandemic.
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The global liquid cooling systems market size was valued at USD 2.75 billion in 2020, and is projected to reach USD 12.99 billion by 2030, registering a CAGR of 17.1% from 2021 to 2030.
The liquid cooling systems market is segmented into component, type, and end user. On the basis of component, the market is fragmented into solution (direct liquid cooling and industrial liquid cooling) and services (design and consulting, installation & deployment, and support & maintenance). Depending on type, the market is segregated into liquid heat exchanger systems (liquid-to-air systems and liquid-to-liquid systems) and compressor-based systems. By end user, it is categorized into BFSI, manufacturing, IT & telecom, media & entertainment, retail, government & defense, healthcare, energy, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Covid-19 Scenario:
● Surge in demand for computer applications from residential and commercial sectors along with rise in demand for data center services led to the liquid cooling systems market growth during the Covid-19 pandemic.
● However, the demand for liquid cooling systems was reduced due to a decrease in spending by the manufacturing and automotive industries and shutdown of production facilities across the globe due to lockdown measures and unavailability of the workforce.
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Based on component, the solution segment accounted for the highest share in 2020, holding around four-fifths of the total share, and is expected to maintain its lead position during the forecast period. However, the services segment is projected to manifest the largest CAGR of 19.5% from 2021 to 2030.
Based on end user, the IT & telecom segment contributed to the highest share in 2020, accounting for nearly one-third of the global liquid cooling systems market, and is expected to continue its leadership status in terms of revenue throughout the forecast period. However, the healthcare segment is projected to register the fastest CAGR of 24.3% from 2021 to 2030.
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Based on region, North America held the highest share in 2020, contributing to nearly two-fifths of the total share, and is projected to continue its dominance by 2030. However, Asia-Pacific is estimated to portray the largest CAGR of 21.5% during the forecast period.
Leading players of the global liquid cooling systems market analyzed in the research include Allied Control Ltd., Rittal GmbH & Co. KG, Asetek, Inc., Boyd Corporation, Schneider Electric SE, Emerson Electric Co., CooIIT Systems, Inc., Laird Thermal Systems, Green Revolution Cooling Inc., and Midas Green Technologies LLC.
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