Liquid Cooling Systems Market Outlook
According to the report by Expert Market Research (EMR), the global liquid cooling systems market share is projected to grow at a CAGR of 10% between 2023 and 2028. Aided by the rising demand for efficient cooling solutions across various industries and the technological advancements in the field, the market is expected to grow significantly by 2028.
Liquid cooling systems, also known as liquid immersion cooling, are used to dissipate heat produced by electronic components using a liquid coolant. They are primarily used in high-performance computing, data centres, electric vehicles, and medical and military equipment. These systems are being increasingly preferred for their high cooling efficiency, noise reduction capabilities, and space-saving benefits.
The soaring demand for energy-efficient cooling solutions is a significant factor driving the global liquid cooling systems market growth. This surge in demand is primarily due to the increasing energy consumption and heat generation in high-performance computing and data centres, urging the need for efficient cooling solutions to prevent overheating and ensure the smooth functioning of devices. The control over liquid media for industrial activities within a specific temperature range is required by many industry verticals, including food and beverage, healthcare, data centres, and telecommunications, which is assisting the liquid cooling systems market expansion.
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Additionally, the expanding application of liquid cooling systems across various sectors also contributes to the liquid cooling systems market expansion. The increasing trend of digitisation and the growing reliance on data centres in industries like IT, telecommunications, and healthcare have necessitated advanced cooling solutions. Similarly, the rise in electric vehicles, which require efficient thermal management, has provided a substantial boost to the market.
The integration of advanced technologies into liquid cooling systems is another critical driver of the liquid cooling systems market. Innovations such as AI-based predictive maintenance, IoT-enabled monitoring, and the development of eco-friendly coolants have enhanced the efficiency and functionality of these systems, further accelerating the market growth.
Finally, the escalating demand for compact and noiseless cooling systems, especially in densely populated urban areas, is expected to fuel the global liquid cooling systems market growth. Liquid cooling systems, being compact and producing significantly less noise than air cooling systems, are ideally suited to meet this demand.
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Liquid Cooling Systems Market Segmentation
The market can be divided based on product type, end use, and region.
Market Breakup by Product Type
- Liquid Heat Exchanger Systems
- Compressor-based Systems (Recirculating Chillers)
Market Breakup by End Use
- Healthcare
- Analytical Equipment
- Industrial
- Data Centre
- Telecommunication
- Automotive
- Military
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global liquid cooling systems companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- 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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