GPU 액체 냉각 시장 : 점유율 분석, 업계 동향 및 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the GPU liquid cooling market size is expected to increase from USD 6.90 billion in 2025 to USD 8.35 billion in 2026 and reach USD 26.91 billion by 2031, growing at a CAGR of 26.37% over 2026-2031.

This report is Segmented by Cooling Type (Single-Phase Liquid Cooling, and Two-Phase Liquid Cooling), Cooling Level (Component-Level Cooling, and Server Rack-Level Cooling), Deployment (Hyperscale Cloud, Enterprise, Government and Research HPC, and Edge AI), GPU Power Density (Below 300 W, 300 W-700 W, and Above 700 W), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

Global GPU Liquid Cooling Market Trends and Insights

Hyperscale Rack Density Pushes Liquid Cooling Into the Mainstream

Rack-level power density ballooned from 27 kW in 2024 to well above 100 kW in 2026, and leading campuses already test 250 kW racks. At these thermal loads, airflow velocity becomes impractical, and acoustic limits prohibit further fan speed increases. Operators therefore retrofit existing halls with coolant distribution units that tolerate 45 °C supply temperatures, allowing chillers to run in economizer mode all year. Early adopters documented 35% smaller building footprints, saving more than USD 180 million in avoided concrete and steel. The outcome is a visible migration budgeted directly into hyperscale capital-expenditure plans rather than deferred operational spending.

OEM Platforms Remove Integration Barriers

Server manufacturers moved liquid cooling from a specialized option to a default for high-performance GPU nodes. Factory-installed cold plates, quick disconnects, and leak-detection loops now ship on NVIDIA GB200, AMD MI325X, and Supermicro X14 systems. The turnkey approach cuts rack-level installation time from 16 hours to less than three, reducing commissioning labor by 80%. End users gain immediate performance headroom, as liquid-cooled variants sustain up to 18% higher clock frequencies under the same power envelope. The commercial message is clear that liquid cooling is no longer exotic; it is the shipping configuration for flagship AI hardware.

Capital Cost Premium Slows Immersion Uptake

Immersion tanks cost 30%-50% more than air-based cooling solutions and continue to carry a 15% cost uplift over single-phase cold plates, making upfront capital expenditure a key barrier for many buyers. Dielectric fluids further increase deployment costs, adding USD 15,000-30,000 per rack, and operators must budget for yearly top-offs that can approach 10% of total fluid volume. For enterprises that typically refresh or renew hardware every three years, these added costs extend the payback period beyond acceptable investment horizons, slowing adoption and delaying broader rollouts. Vendors are now pursuing cost reductions by using commodity fluids, simplifying system designs, and standardizing tank dimensions to improve manufacturing scale and installation efficiency. However, most observers expect immersion cooling to reach price parity with competing solutions only after 2028.

Other drivers and restraints analyzed in the detailed report include:

1. Two-Phase Technology Answers 1 kW-Plus Chips
2. Regulation Turns Efficiency From Nice-to-Have Into Legal Requirement
3. Environmental Rules Complicate Coolant Choice

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Single-phase systems accounted for 73% of revenue in 2025, reflecting a decade-long field maturity and seamless integration with legacy chillers. These installations circulate water-glycol mixtures between 30 °C and 45 °C, capture up to 85% of chip heat, and slot directly into existing building chilled-water loops. The GPU liquid-cooling market for single-phase solutions benefited from hyperscalers standardizing on manifold designs under the Open Compute Project, trimming integration labor by nearly one-fifth. Continued shipments of Lenovo Neptune, Dell PowerEdge XE9680L, and HPE Cray EX servers sustain the installed base, especially for workloads where 700-watt accelerators remain dominant.

Two-phase platforms are projected to grow at a 27.80% CAGR, making them the fastest-growing segment of the GPU liquid cooling market. Evaporative cold plates capture almost the entire 1,000-watt-plus heat load directly on silicon, returning liquid to chillers at elevated temperatures that support near-free cooling for much of the year. Vertiv Liebert PCW and ZutaCore HyperCool field trials demonstrate 98% chip-level heat capture, halving cooling energy use and freeing rack space for power-conversion gear. Though dielectric management imposes stricter material compatibility rules, hyperscalers weigh those costs against the alternative of building entirely new halls to house future Blackwell Ultra clusters.

Component-level cold plates retained 56% share in 2025, underpinned by ship-through volumes from server OEMs. Direct-to-chip plates require no new server enclosures and leverage standardized quick disconnects, making them attractive for enterprises performing gradual retrofits. Cold-plate loops also minimize fluid inventory, reducing environmental risk and meeting insurance-carrier guidelines with minimal paperwork. However, they still demand per-node plumbing labor and cannot fully exploit heat-re-use schemes because exhaust temperatures sit below 50 °C.

Rack-level immersion is forecast to expand at 28.10% per year. Submer, GRC, and LiquidStack tanks enable 200 kW racks within existing floor grids, shrink installation windows to a single afternoon, and simplify maintenance with live-service capabilities. The GPU liquid cooling market share for immersion rose sharply after ByteDance documented PUE 1.08 and 85% waste-heat recovery, influencing procurement strategies across mainland China. Financial models show that once electricity exceeds USD 0.10 per kilowatt-hour, immersion's operational savings eclipse its capital premium in under three years, tilting total-cost-of-ownership calculations decisively.

Complete Report Scope:

• By Cooling Type
  • Single-Phase Liquid Cooling
  • Two-Phase Liquid Cooling
• By Cooling Level
  • Component-Level Cooling
  • Server Rack-Level Cooling
• By Deployment
  • Hyperscale Cloud
  • Enterprise
  • Government and Research HPC
  • Edge AI
• By GPU Power Density
  • Below 300 W
  • 300 W - 700 W
  • Above 700 W
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • United Kingdom
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • South Korea
    • India
    • Southeast Asia
    • Rest of Asia-Pacific
  • South America
    • Brazil
    • Rest of South America
  • Middle East and Africa

Geography Analysis

Asia-Pacific accounted for 68% revenue in 2025 and is forecast to grow 29.10% annually through 2031. Sovereign AI programs in China inject billions of dollars into national GPU clusters, while Southeast Asia leverages tax incentives to localize production of CDUs and quick disconnects. ByteDance documented a PUE of 1.08 at its Tianjin campus and shared blueprints with domestic cloud peers, creating a demonstration effect that ripples through the region's colocation market. In parallel, Japan and South Korea channel state grants toward liquid-ready fabs, ensuring regional supply security against export-control uncertainty.

North America trails Asia-Pacific in volume but leads in technology adoption and regulatory impetus. California's Title 24 and the United States federal push for district-energy coupling obligate new builds to meet PUE below 1.18 within the decade. Hyperscale operators pre-empt compliance risk through aggressive two-phase pilots in Virginia and Arizona. Canada's colder climate further sweetens the server heat-export narrative, with Quebec utilities offering tariff rebates for waste-heat recovery connections, compressing payback to 24 months in some metro sites.

Europe presents a mosaic of drivers that Germany enforces statutory PUE caps, France ties grid fees to efficiency scores, and the Nordics monetize heat reuse within well-established district networks. Combined, these policies accelerate adoption schedules and generate attractive secondary revenue from heat sales. However, European operators must simultaneously pivot away from high-GWP coolants, compelling suppliers to certify hydrocarbon or ester formulations before facility-commissioning deadlines. This dual pressure fosters a vibrant vendor landscape comprising transformer oil specialists, chemical majors, and newly formed fluid recyclers.

1. Vertiv Group Corporation
2. Schneider Electric SE
3. CoolIT Systems Inc.
4. LiquidStack Holdings Inc.
5. Submer Technologies SL
6. Green Revolution Cooling Inc.
7. Asetek AS
8. Iceotope Technologies Ltd.
9. Fujitsu Ltd.
10. Dell Technologies Inc.
11. Hewlett Packard Enterprise Company
12. Lenovo Group Ltd.
13. Super Micro Computer Inc.
14. BOYD Corporation
15. Delta Electronics Inc.
16. Parker Hannifin Corporation
17. CPC Colder Products Company
18. Danfoss AS
19. Staubli International AG
20. Zutacore Ltd.
21. LiquidCool Solutions Inc.
22. Asperitas BV

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET LANDSCAPE

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Hyperscale GPU Rack Densities Exceeding 120 kW Accelerate Liquid Cooling Adoption
  • 4.2.2 OEM Launch of Liquid-Cooled GPU Platforms NVIDIA AMD Supermicro
  • 4.2.3 Stricter Data-Centre PUE Mandates in North America and Europe
  • 4.2.4 Heat Re-use Incentives in District Energy Networks
  • 4.2.5 Next-Generation AI ASICs Above 1 kW TDP Require Two-Phase Solutions
  • 4.2.6 Supply-Chain Localisation of CDUs and Quick Disconnects in Southeast Asia
• 4.3 Market Restraints
  • 4.3.1 High CAPEX Premium for Immersion Systems
  • 4.3.2 Fluorinated Coolant Environmental Regulations
  • 4.3.3 Limited Field Expertise for Edge AI Retrofits
  • 4.3.4 Long Qualification Cycles for Government HPC Facilities
• 4.4 Industry Value Chain Analysis
• 4.5 Regulatory Landscape
• 4.6 Technological Outlook
• 4.7 Impact of Macroeconomic Factors on the Market
• 4.8 Porter's Five Forces Analysis
  • 4.8.1 Threat of New Entrants
  • 4.8.2 Bargaining Power of Buyers
  • 4.8.3 Bargaining Power of Suppliers
  • 4.8.4 Threat of Substitutes
  • 4.8.5 Competitive Rivalry

5 MARKET SIZE AND GROWTH FORECASTS (VALUE)

• 5.1 By Cooling Type
  • 5.1.1 Single-Phase Liquid Cooling
  • 5.1.2 Two-Phase Liquid Cooling
• 5.2 By Cooling Level
  • 5.2.1 Component-Level Cooling
  • 5.2.2 Server Rack-Level Cooling
• 5.3 By Deployment
  • 5.3.1 Hyperscale Cloud
  • 5.3.2 Enterprise
  • 5.3.3 Government and Research HPC
  • 5.3.4 Edge AI
• 5.4 By GPU Power Density
  • 5.4.1 Below 300 W
  • 5.4.2 300 W - 700 W
  • 5.4.3 Above 700 W
• 5.5 By Geography
  • 5.5.1 North America
    • 5.5.1.1 United States
    • 5.5.1.2 Canada
    • 5.5.1.3 Mexico
  • 5.5.2 Europe
    • 5.5.2.1 Germany
    • 5.5.2.2 United Kingdom
    • 5.5.2.3 France
    • 5.5.2.4 Italy
    • 5.5.2.5 Rest of Europe
  • 5.5.3 Asia-Pacific
    • 5.5.3.1 China
    • 5.5.3.2 Japan
    • 5.5.3.3 South Korea
    • 5.5.3.4 India
    • 5.5.3.5 Southeast Asia
    • 5.5.3.6 Rest of Asia-Pacific
  • 5.5.4 South America
    • 5.5.4.1 Brazil
    • 5.5.4.2 Rest of South America
  • 5.5.5 Middle East and Africa

6 COMPETITIVE LANDSCAPE

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share Analysis
• 6.4 Company Profiles
  • 6.4.1 Vertiv Group Corporation
  • 6.4.2 Schneider Electric SE
  • 6.4.3 CoolIT Systems Inc.
  • 6.4.4 LiquidStack Holdings Inc.
  • 6.4.5 Submer Technologies SL
  • 6.4.6 Green Revolution Cooling Inc.
  • 6.4.7 Asetek AS
  • 6.4.8 Iceotope Technologies Ltd.
  • 6.4.9 Fujitsu Ltd.
  • 6.4.10 Dell Technologies Inc.
  • 6.4.11 Hewlett Packard Enterprise Company
  • 6.4.12 Lenovo Group Ltd.
  • 6.4.13 Super Micro Computer Inc.
  • 6.4.14 BOYD Corporation
  • 6.4.15 Delta Electronics Inc.
  • 6.4.16 Parker Hannifin Corporation
  • 6.4.17 CPC Colder Products Company
  • 6.4.18 Danfoss AS
  • 6.4.19 Staubli International AG
  • 6.4.20 Zutacore Ltd.
  • 6.4.21 LiquidCool Solutions Inc.
  • 6.4.22 Asperitas BV

7 MARKET OPPORTUNITIES AND FUTURE OUTLOOK

• 7.1 White-Space and Unmet-Need Assessment