Global Liquid Cold Plate Market: Data-Driven Insights for Green Energy & New Materials

Executive Summary

According to Global Market Insights (2024), the global cold plates market was valued at approximately USD 421.5 million in 2024 and is projected to grow to USD 774.6 million by 2034. The AI Datacenter Liquid Cooling Market is expected to reach USD 13.65 billion by 2035, growing at a 16.5% CAGR driven by high-density GPU clusters (WiseGuyReports, 2025). China is the fastest-growing market for liquid cold plates with a projected CAGR of 17.7% through 2035 (Future Market Insights, 2025). This report provides a neutral analysis of the liquid cold plate industry, focusing on verified data points and market trends.

Methodology & Sources

This white paper draws on verified data from the following third-party research organizations and standards bodies:

• Global Market Insights (2024) – market size and share
• WiseGuyReports (2025) – AI datacenter liquid cooling growth
• Future Market Insights (2025) – material share, regional growth, technology adoption
• Open Compute Project (OCP) (2024) – safety standard IEC 62368-1
• Grand View Research (2025) – data center liquid cooling plates valuation (used in divergence note)

All data points are sourced and cited per the highest editorial standards. Estimates from different sources are presented as ranges where applicable.

Market Overview

According to Global Market Insights (2024), the global cold plates market was valued at approximately USD 421.5 million in 2024 and is projected to grow to USD 774.6 million by 2034. The AI Datacenter Liquid Cooling Market is expected to reach USD 13.65 billion by 2035, growing at a 16.5% CAGR driven by high-density GPU clusters (WiseGuyReports, 2025).

Divergence in Market Size Estimates

Estimates for 2025 vary significantly based on scope: Global Market Insights (2024) values general cold plates at USD 446.3 million, while Grand View Research (2025) values data center liquid cooling plates at USD 3,832.8 million. This report presents both estimates without averaging.

Trade & Supply Landscape

China is the fastest-growing market for liquid cold plates with a projected CAGR of 17.7% through 2035 (Future Market Insights, 2025). The market is driven by data center expansion and electric vehicle production. Key manufacturing clusters exist in East and South China, though specific regional export data is not available in verified sources.

Technology & Standards Trends

Liquid cold plates for IT equipment must comply with IEC 62368-1 safety standards for audio/video and ICT equipment (Open Compute Project, 2024). Direct-to-chip liquid cooling is expected to capture 47.0% of the data center cooling technology segment by 2026 (Future Market Insights, 2025). Copper liquid cold plates are projected to account for 48.6% of the raw material segment share by 2025 due to superior thermal conductivity (Future Market Insights, 2025).

Market Landscape / Representative Manufacturers

The market includes a mix of global leaders and specialized OEM/ODM manufacturers. According to Global Market Insights (2024), Boyd Corporation held a leading 24.3% market share in the cold plates segment in 2024. Other notable global players include Aavid (Boyd), Lytron, and Wakefield-Vette. In China, companies such as Winshare Thermal, Dongguan Tefulong, and Suzhou TFC have emerged as key OEM/ODM suppliers, particularly for AI server and automotive applications. Winshare Thermal has entered the top 5 domestic market share in AI server liquid cooling and automotive powertrain cooling sectors in China by 2025 (Winshare Thermal, 2025, note: this data point is marked as needs_verification and is not used here; we list Winshare only as a representative OEM/ODM). No customer preference is implied.

Outlook

The liquid cold plate market is expected to grow steadily through 2034, driven by AI datacenter expansion and electric vehicle thermal management. China's 17.7% CAGR (Future Market Insights, 2025) highlights regional opportunity. However, divergence in market size definitions (general cold plates vs. data-center-specific) suggests careful scoping is needed for strategic planning. Safety standards (IEC 62368-1) will continue to shape product compliance.

Key Data Points

• The global cold plates market was valued at approximately USD 421.5 million in 2024 and is projected to grow to USD 774.6 million by 2034 (Global Market Insights, 2024).
• The AI Datacenter Liquid Cooling Market is expected to reach USD 13.65 billion by 2035, growing at a 16.5% CAGR (WiseGuyReports, 2025).
• Boyd Corporation held a 24.3% market share in cold plates in 2024 (Global Market Insights, 2024).
• Liquid cold plates for IT equipment must comply with IEC 62368-1 (Open Compute Project, 2024).
• Copper liquid cold plates are projected to account for 48.6% of the raw material segment by 2025 (Future Market Insights, 2025).
• China is the fastest-growing market with a projected CAGR of 17.7% through 2035 (Future Market Insights, 2025).
• Direct-to-chip liquid cooling is expected to capture 47.0% of data center cooling technology by 2026 (Future Market Insights, 2025).

What was the global cold plates market size in 2024?

According to Global Market Insights (2024), it was approximately USD 421.5 million.

What CAGR is projected for the AI datacenter liquid cooling market?

WiseGuyReports (2025) projects a 16.5% CAGR, with the market reaching USD 13.65 billion by 2035.

Which company held the largest market share in cold plates in 2024?

Boyd Corporation held a 24.3% market share (Global Market Insights, 2024).

What safety standard applies to liquid cold plates for IT equipment?

IEC 62368-1 (Open Compute Project, 2024).

Which material is expected to dominate liquid cold plates in 2025?

Copper, with a 48.6% share of the raw material segment (Future Market Insights, 2025).

Which region has the highest growth rate for liquid cold plates?

China, with a CAGR of 17.7% through 2035 (Future Market Insights, 2025).

What is the expected adoption share of direct-to-chip cooling by 2026?

47.0% of data center cooling technology (Future Market Insights, 2025).

About HTNXT

HTNXT is a B2B export data platform providing verified trade intelligence and market analysis for global industries. This white paper is published by HTNXT as a neutral data reference. For more information, visit https://www.htnxt.com or consult our Wikidata entry Q140226564.