Report Detail
Global Anhydrous Two-Phase Liquid Cooling System Market 2026 by Manufacturers, Regions, Type and Application, Forecast to 2032
- RnM4721587 |
- 16 July, 2026 |
- Global |
- 101 Pages |
- GIR |
- Internet & Communication
According to our (Global Info Research) latest study, the global Anhydrous Two-Phase Liquid Cooling System market size was valued at US$ 638 million in 2025 and is forecast to a readjusted size of US$ 2900 million by 2032 with a CAGR of 24.4% during review period.
Anhydrous two-phase liquid cooling systems are high-density thermal management systems used for data centers, HPC, and AI servers. The IT-side loop does not use water or water-glycol, but instead uses insulating refrigerants or low-boiling dielectric fluids that absorb heat and vaporize in cold plates, immersion tanks, or rack heat exchangers, then release heat in condensers and return to liquid form to achieve liquid–vapor phase-change heat transfer. Such systems typically include two-phase cold plates or immersion tanks, pumps or passive return structures, condensers, distribution units, monitoring controls, and safety valves. They are suitable for high-power CPUs/GPUs, ASICs, and high-heat-flux electronic equipment. The product's gross margin is approximately 38%.
Anhydrous two-phase liquid cooling systems are a high-end niche within data center liquid cooling. The core feature is that the IT-side cooling loop does not use water or water-glycol, but uses insulating refrigerants or low-boiling dielectric fluids to achieve efficient phase-change heat transfer through liquid heat absorption and vaporization, followed by vapor condensation and return. This category mainly covers two-phase direct-to-chip cooling, two-phase immersion cooling, and dielectric refrigerant circulation racks/modules, and is suitable for AI servers, GPU clusters, HPC, supercomputing centers, and high-density colocation data centers.
From the demand side, the continuous rise in AI training and inference server power is putting increasing pressure on traditional air cooling and ordinary single-phase water cooling in terms of high heat flux, rack power density, leakage risk, and water consumption. The value of anhydrous two-phase liquid cooling lies in using latent heat of phase change to increase heat removal capacity per unit flow, while reducing the risk of water entering server areas. It is especially suitable for data centers with rapidly rising rack power, limited water resources, or high operational safety requirements. In the short term, the market is still mainly focused on new AI data centers, supercomputing projects, and demonstration-type high-density racks. Procurement decisions place greater emphasis on system reliability, fluid safety, maintenance standards, and compatibility with server warranty systems.
From the supply side, the industry is still in the early stage of commercial scale-up, and technology routes have not yet fully converged. ZutaCore and Accelsius represent the two-phase direct-to-chip route, while LiquidStack, 2CRSi, Wiwynn, and others are more focused on two-phase immersion or full-system integration solutions. OptiCool, Eaton Boyd, ACT, and others cover refrigerant circulation, cold plates, and customized thermal management systems. Future competition will depend not only on cooling efficiency, but also on environmentally friendly dielectric fluid alternatives, system sealing and safety control, condenser heat exchange module integration, scaled delivery capability, and ecosystem binding with server manufacturers. Overall, this product has a smaller short-term market size than ordinary liquid cooling systems, but higher unit prices, technical barriers, and gross margins, making it a high-growth niche in high-density data center cooling upgrades.
This report is a detailed and comprehensive analysis for global Anhydrous Two-Phase Liquid Cooling System market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.
Key Features:
Global Anhydrous Two-Phase Liquid Cooling System market size and forecasts, in consumption value ($ Million), sales quantity (Units), and average selling prices (US$/Unit), 2021-2032
Global Anhydrous Two-Phase Liquid Cooling System market size and forecasts by region and country, in consumption value ($ Million), sales quantity (Units), and average selling prices (US$/Unit), 2021-2032
Global Anhydrous Two-Phase Liquid Cooling System market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (Units), and average selling prices (US$/Unit), 2021-2032
Global Anhydrous Two-Phase Liquid Cooling System market shares of main players, shipments in revenue ($ Million), sales quantity (Units), and ASP (US$/Unit), 2021-2026
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for Anhydrous Two-Phase Liquid Cooling System
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global Anhydrous Two-Phase Liquid Cooling System market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include ZutaCore, Accelsius, LiquidStack, OptiCool Technologies, Eaton Boyd Thermal, Advanced Cooling Technologies, 2CRSi, Wiwynn, GIGABYTE, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Market Segmentation
Anhydrous Two-Phase Liquid Cooling System market is split by Type and by Application. For the period 2021-2032, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
Market segment by Type
Two-Phase Direct-To-Chip
Two-Phase Immersion
Two-Phase Rear-Door Or Enclosure
Hybrid Two-Phase Module
Market segment by Heat Rejection Interface
Air-Cooled Condenser
Facility Water Interface
Dry Cooler Interface
Direct Expansion Interface
Market segment by Deployment Package
Server Retrofit Kit
Integrated Rack System
Immersion Tank System
Containerized Module
Row or End-of-Row System
Market segment by Rated Heat Capacity
Up To 50 kW
50-250 kW
250 kW-1 MW
Above 1 MW
Market segment by Application
AI Training Data Centers
High-Performance Computing Clusters
Cloud and Colocation High-Density Racks
Edge and Micro Data Centers
Crypto and Blockchain Computing
Telecom and 5G Core Sites
Semiconductor and Electronics Test
Major players covered
ZutaCore
Accelsius
LiquidStack
OptiCool Technologies
Eaton Boyd Thermal
Advanced Cooling Technologies
2CRSi
Wiwynn
GIGABYTE
Market segment by region, regional analysis covers
North America (United States, Canada, and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Anhydrous Two-Phase Liquid Cooling System product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Anhydrous Two-Phase Liquid Cooling System, with price, sales quantity, revenue, and global market share of Anhydrous Two-Phase Liquid Cooling System from 2021 to 2026.
Chapter 3, the Anhydrous Two-Phase Liquid Cooling System competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Anhydrous Two-Phase Liquid Cooling System breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2021 to 2032.
Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2021 to 2032.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2021 to 2026.and Anhydrous Two-Phase Liquid Cooling System market forecast, by regions, by Type, and by Application, with sales and revenue, from 2027 to 2032.
Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of Anhydrous Two-Phase Liquid Cooling System.
Chapter 14 and 15, to describe Anhydrous Two-Phase Liquid Cooling System sales channel, distributors, customers, research findings and conclusion.
1 Market Overview
- 1.1 Product Overview and Scope
- 1.2 Market Estimation Caveats and Base Year
- 1.3 Market Analysis by Type
- 1.3.1 Overview: Global Anhydrous Two-Phase Liquid Cooling System Consumption Value by Type: 2021 Versus 2025 Versus 2032
- 1.3.2 Two-Phase Direct-To-Chip
- 1.3.3 Two-Phase Immersion
- 1.3.4 Two-Phase Rear-Door Or Enclosure
- 1.3.5 Hybrid Two-Phase Module
- 1.4 Market Analysis by Heat Rejection Interface
- 1.4.1 Overview: Global Anhydrous Two-Phase Liquid Cooling System Consumption Value by Heat Rejection Interface: 2021 Versus 2025 Versus 2032
- 1.4.2 Air-Cooled Condenser
- 1.4.3 Facility Water Interface
- 1.4.4 Dry Cooler Interface
- 1.4.5 Direct Expansion Interface
- 1.5 Market Analysis by Deployment Package
- 1.5.1 Overview: Global Anhydrous Two-Phase Liquid Cooling System Consumption Value by Deployment Package: 2021 Versus 2025 Versus 2032
- 1.5.2 Server Retrofit Kit
- 1.5.3 Integrated Rack System
- 1.5.4 Immersion Tank System
- 1.5.5 Containerized Module
- 1.5.6 Row or End-of-Row System
- 1.6 Market Analysis by Rated Heat Capacity
- 1.6.1 Overview: Global Anhydrous Two-Phase Liquid Cooling System Consumption Value by Rated Heat Capacity: 2021 Versus 2025 Versus 2032
- 1.6.2 Up To 50 kW
- 1.6.3 50-250 kW
- 1.6.4 250 kW-1 MW
- 1.6.5 Above 1 MW
- 1.7 Market Analysis by Application
- 1.7.1 Overview: Global Anhydrous Two-Phase Liquid Cooling System Consumption Value by Application: 2021 Versus 2025 Versus 2032
- 1.7.2 AI Training Data Centers
- 1.7.3 High-Performance Computing Clusters
- 1.7.4 Cloud and Colocation High-Density Racks
- 1.7.5 Edge and Micro Data Centers
- 1.7.6 Crypto and Blockchain Computing
- 1.7.7 Telecom and 5G Core Sites
- 1.7.8 Semiconductor and Electronics Test
- 1.8 Global Anhydrous Two-Phase Liquid Cooling System Market Size & Forecast
- 1.8.1 Global Anhydrous Two-Phase Liquid Cooling System Consumption Value (2021 & 2025 & 2032)
- 1.8.2 Global Anhydrous Two-Phase Liquid Cooling System Sales Quantity (2021-2032)
- 1.8.3 Global Anhydrous Two-Phase Liquid Cooling System Average Price (2021-2032)
2 Manufacturers Profiles
- 2.1 ZutaCore
- 2.1.1 ZutaCore Details
- 2.1.2 ZutaCore Major Business
- 2.1.3 ZutaCore Anhydrous Two-Phase Liquid Cooling System Product and Services
- 2.1.4 ZutaCore Anhydrous Two-Phase Liquid Cooling System Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.1.5 ZutaCore Recent Developments/Updates
- 2.2 Accelsius
- 2.2.1 Accelsius Details
- 2.2.2 Accelsius Major Business
- 2.2.3 Accelsius Anhydrous Two-Phase Liquid Cooling System Product and Services
- 2.2.4 Accelsius Anhydrous Two-Phase Liquid Cooling System Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.2.5 Accelsius Recent Developments/Updates
- 2.3 LiquidStack
- 2.3.1 LiquidStack Details
- 2.3.2 LiquidStack Major Business
- 2.3.3 LiquidStack Anhydrous Two-Phase Liquid Cooling System Product and Services
- 2.3.4 LiquidStack Anhydrous Two-Phase Liquid Cooling System Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.3.5 LiquidStack Recent Developments/Updates
- 2.4 OptiCool Technologies
- 2.4.1 OptiCool Technologies Details
- 2.4.2 OptiCool Technologies Major Business
- 2.4.3 OptiCool Technologies Anhydrous Two-Phase Liquid Cooling System Product and Services
- 2.4.4 OptiCool Technologies Anhydrous Two-Phase Liquid Cooling System Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.4.5 OptiCool Technologies Recent Developments/Updates
- 2.5 Eaton Boyd Thermal
- 2.5.1 Eaton Boyd Thermal Details
- 2.5.2 Eaton Boyd Thermal Major Business
- 2.5.3 Eaton Boyd Thermal Anhydrous Two-Phase Liquid Cooling System Product and Services
- 2.5.4 Eaton Boyd Thermal Anhydrous Two-Phase Liquid Cooling System Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.5.5 Eaton Boyd Thermal Recent Developments/Updates
- 2.6 Advanced Cooling Technologies
- 2.6.1 Advanced Cooling Technologies Details
- 2.6.2 Advanced Cooling Technologies Major Business
- 2.6.3 Advanced Cooling Technologies Anhydrous Two-Phase Liquid Cooling System Product and Services
- 2.6.4 Advanced Cooling Technologies Anhydrous Two-Phase Liquid Cooling System Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.6.5 Advanced Cooling Technologies Recent Developments/Updates
- 2.7 2CRSi
- 2.7.1 2CRSi Details
- 2.7.2 2CRSi Major Business
- 2.7.3 2CRSi Anhydrous Two-Phase Liquid Cooling System Product and Services
- 2.7.4 2CRSi Anhydrous Two-Phase Liquid Cooling System Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.7.5 2CRSi Recent Developments/Updates
- 2.8 Wiwynn
- 2.8.1 Wiwynn Details
- 2.8.2 Wiwynn Major Business
- 2.8.3 Wiwynn Anhydrous Two-Phase Liquid Cooling System Product and Services
- 2.8.4 Wiwynn Anhydrous Two-Phase Liquid Cooling System Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.8.5 Wiwynn Recent Developments/Updates
- 2.9 GIGABYTE
- 2.9.1 GIGABYTE Details
- 2.9.2 GIGABYTE Major Business
- 2.9.3 GIGABYTE Anhydrous Two-Phase Liquid Cooling System Product and Services
- 2.9.4 GIGABYTE Anhydrous Two-Phase Liquid Cooling System Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2021-2026)
- 2.9.5 GIGABYTE Recent Developments/Updates
3 Competitive Environment: Anhydrous Two-Phase Liquid Cooling System by Manufacturer
- 3.1 Global Anhydrous Two-Phase Liquid Cooling System Sales Quantity by Manufacturer (2021-2026)
- 3.2 Global Anhydrous Two-Phase Liquid Cooling System Revenue by Manufacturer (2021-2026)
- 3.3 Global Anhydrous Two-Phase Liquid Cooling System Average Price by Manufacturer (2021-2026)
- 3.4 Market Share Analysis (2025)
- 3.4.1 Producer Shipments of Anhydrous Two-Phase Liquid Cooling System by Manufacturer Revenue ($MM) and Market Share (%): 2025
- 3.4.2 Top 3 Anhydrous Two-Phase Liquid Cooling System Manufacturer Market Share in 2025
- 3.4.3 Top 6 Anhydrous Two-Phase Liquid Cooling System Manufacturer Market Share in 2025
- 3.5 Anhydrous Two-Phase Liquid Cooling System Market: Overall Company Footprint Analysis
- 3.5.1 Anhydrous Two-Phase Liquid Cooling System Market: Region Footprint
- 3.5.2 Anhydrous Two-Phase Liquid Cooling System Market: Company Product Type Footprint
- 3.5.3 Anhydrous Two-Phase Liquid Cooling System Market: Company Product Application Footprint
- 3.6 New Market Entrants and Barriers to Market Entry
- 3.7 Mergers, Acquisition, Agreements, and Collaborations
4 Consumption Analysis by Region
- 4.1 Global Anhydrous Two-Phase Liquid Cooling System Market Size by Region
- 4.1.1 Global Anhydrous Two-Phase Liquid Cooling System Sales Quantity by Region (2021-2032)
- 4.1.2 Global Anhydrous Two-Phase Liquid Cooling System Consumption Value by Region (2021-2032)
- 4.1.3 Global Anhydrous Two-Phase Liquid Cooling System Average Price by Region (2021-2032)
- 4.2 North America Anhydrous Two-Phase Liquid Cooling System Consumption Value (2021-2032)
- 4.3 Europe Anhydrous Two-Phase Liquid Cooling System Consumption Value (2021-2032)
- 4.4 Asia-Pacific Anhydrous Two-Phase Liquid Cooling System Consumption Value (2021-2032)
- 4.5 South America Anhydrous Two-Phase Liquid Cooling System Consumption Value (2021-2032)
- 4.6 Middle East & Africa Anhydrous Two-Phase Liquid Cooling System Consumption Value (2021-2032)
5 Market Segment by Type
- 5.1 Global Anhydrous Two-Phase Liquid Cooling System Sales Quantity by Type (2021-2032)
- 5.2 Global Anhydrous Two-Phase Liquid Cooling System Consumption Value by Type (2021-2032)
- 5.3 Global Anhydrous Two-Phase Liquid Cooling System Average Price by Type (2021-2032)
6 Market Segment by Application
- 6.1 Global Anhydrous Two-Phase Liquid Cooling System Sales Quantity by Application (2021-2032)
- 6.2 Global Anhydrous Two-Phase Liquid Cooling System Consumption Value by Application (2021-2032)
- 6.3 Global Anhydrous Two-Phase Liquid Cooling System Average Price by Application (2021-2032)
7 North America
- 7.1 North America Anhydrous Two-Phase Liquid Cooling System Sales Quantity by Type (2021-2032)
- 7.2 North America Anhydrous Two-Phase Liquid Cooling System Sales Quantity by Application (2021-2032)
- 7.3 North America Anhydrous Two-Phase Liquid Cooling System Market Size by Country
- 7.3.1 North America Anhydrous Two-Phase Liquid Cooling System Sales Quantity by Country (2021-2032)
- 7.3.2 North America Anhydrous Two-Phase Liquid Cooling System Consumption Value by Country (2021-2032)
- 7.3.3 United States Market Size and Forecast (2021-2032)
- 7.3.4 Canada Market Size and Forecast (2021-2032)
- 7.3.5 Mexico Market Size and Forecast (2021-2032)
8 Europe
- 8.1 Europe Anhydrous Two-Phase Liquid Cooling System Sales Quantity by Type (2021-2032)
- 8.2 Europe Anhydrous Two-Phase Liquid Cooling System Sales Quantity by Application (2021-2032)
- 8.3 Europe Anhydrous Two-Phase Liquid Cooling System Market Size by Country
- 8.3.1 Europe Anhydrous Two-Phase Liquid Cooling System Sales Quantity by Country (2021-2032)
- 8.3.2 Europe Anhydrous Two-Phase Liquid Cooling System Consumption Value by Country (2021-2032)
- 8.3.3 Germany Market Size and Forecast (2021-2032)
- 8.3.4 France Market Size and Forecast (2021-2032)
- 8.3.5 United Kingdom Market Size and Forecast (2021-2032)
- 8.3.6 Russia Market Size and Forecast (2021-2032)
- 8.3.7 Italy Market Size and Forecast (2021-2032)
9 Asia-Pacific
- 9.1 Asia-Pacific Anhydrous Two-Phase Liquid Cooling System Sales Quantity by Type (2021-2032)
- 9.2 Asia-Pacific Anhydrous Two-Phase Liquid Cooling System Sales Quantity by Application (2021-2032)
- 9.3 Asia-Pacific Anhydrous Two-Phase Liquid Cooling System Market Size by Region
- 9.3.1 Asia-Pacific Anhydrous Two-Phase Liquid Cooling System Sales Quantity by Region (2021-2032)
- 9.3.2 Asia-Pacific Anhydrous Two-Phase Liquid Cooling System Consumption Value by Region (2021-2032)
- 9.3.3 China Market Size and Forecast (2021-2032)
- 9.3.4 Japan Market Size and Forecast (2021-2032)
- 9.3.5 South Korea Market Size and Forecast (2021-2032)
- 9.3.6 India Market Size and Forecast (2021-2032)
- 9.3.7 Southeast Asia Market Size and Forecast (2021-2032)
- 9.3.8 Australia Market Size and Forecast (2021-2032)
10 South America
- 10.1 South America Anhydrous Two-Phase Liquid Cooling System Sales Quantity by Type (2021-2032)
- 10.2 South America Anhydrous Two-Phase Liquid Cooling System Sales Quantity by Application (2021-2032)
- 10.3 South America Anhydrous Two-Phase Liquid Cooling System Market Size by Country
- 10.3.1 South America Anhydrous Two-Phase Liquid Cooling System Sales Quantity by Country (2021-2032)
- 10.3.2 South America Anhydrous Two-Phase Liquid Cooling System Consumption Value by Country (2021-2032)
- 10.3.3 Brazil Market Size and Forecast (2021-2032)
- 10.3.4 Argentina Market Size and Forecast (2021-2032)
11 Middle East & Africa
- 11.1 Middle East & Africa Anhydrous Two-Phase Liquid Cooling System Sales Quantity by Type (2021-2032)
- 11.2 Middle East & Africa Anhydrous Two-Phase Liquid Cooling System Sales Quantity by Application (2021-2032)
- 11.3 Middle East & Africa Anhydrous Two-Phase Liquid Cooling System Market Size by Country
- 11.3.1 Middle East & Africa Anhydrous Two-Phase Liquid Cooling System Sales Quantity by Country (2021-2032)
- 11.3.2 Middle East & Africa Anhydrous Two-Phase Liquid Cooling System Consumption Value by Country (2021-2032)
- 11.3.3 Turkey Market Size and Forecast (2021-2032)
- 11.3.4 Egypt Market Size and Forecast (2021-2032)
- 11.3.5 Saudi Arabia Market Size and Forecast (2021-2032)
- 11.3.6 South Africa Market Size and Forecast (2021-2032)
12 Market Dynamics
- 12.1 Anhydrous Two-Phase Liquid Cooling System Market Drivers
- 12.2 Anhydrous Two-Phase Liquid Cooling System Market Restraints
- 12.3 Anhydrous Two-Phase Liquid Cooling System Trends Analysis
- 12.4 Porters Five Forces Analysis
- 12.4.1 Threat of New Entrants
- 12.4.2 Bargaining Power of Suppliers
- 12.4.3 Bargaining Power of Buyers
- 12.4.4 Threat of Substitutes
- 12.4.5 Competitive Rivalry
13 Raw Material and Industry Chain
- 13.1 Raw Material of Anhydrous Two-Phase Liquid Cooling System and Key Manufacturers
- 13.2 Manufacturing Costs Percentage of Anhydrous Two-Phase Liquid Cooling System
- 13.3 Anhydrous Two-Phase Liquid Cooling System Production Process
- 13.4 Industry Value Chain Analysis
14 Shipments by Distribution Channel
- 14.1 Sales Channel
- 14.1.1 Direct to End-User
- 14.1.2 Distributors
- 14.2 Anhydrous Two-Phase Liquid Cooling System Typical Distributors
- 14.3 Anhydrous Two-Phase Liquid Cooling System Typical Customers
15 Research Findings and Conclusion
16 Appendix
- 16.1 Methodology
- 16.2 Research Process and Data Source
Summary:
Get latest Market Research Reports on Anhydrous Two-Phase Liquid Cooling System. Industry analysis & Market Report on Anhydrous Two-Phase Liquid Cooling System is a syndicated market report, published as Global Anhydrous Two-Phase Liquid Cooling System Market 2026 by Manufacturers, Regions, Type and Application, Forecast to 2032. It is complete Research Study and Industry Analysis of Anhydrous Two-Phase Liquid Cooling System market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.
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