According to our (Global Info Research) latest study, the global Two-phase Liquid-cooled Cold Plate Module market size was valued at US$ 372 million in 2025 and is forecast to a readjusted size of US$ 1459 million by 2032 with a CAGR of 21.5% during review period.
In 2025, the global production of two-phase liquid-cooled cold plate module reached approximately 452,500 units, with an average global market price of around US$800 per unit. In the same year, the global total production capacity of two-phase liquid-cooled cold plate module reached 565,000 units. The industry average gross profit margin of this product reached 32%.Two-phase liquid-cooled cold plate modules are advanced heat dissipation components for high-power electronic devices. They achieve high-density heat transfer by utilizing the liquid-to-gas phase change process of the working fluid within a sealed cold plate. When a heat source heats the working fluid inside the cold plate, the fluid rapidly vaporizes within microchannels, absorbing a large amount of latent heat. Subsequently, the gas condenses back into a liquid state in an external heat exchanger and circulates back, forming a highly efficient closed-loop thermal cycle system. Compared to traditional single-phase liquid cooling that relies solely on temperature rise for heat transfer, two-phase cold plates significantly improve heat dissipation capacity by utilizing the latent heat of phase change. Suitable for high-power AI chips ranging from 700W to 2000W, they are one of the core thermal management technologies for next-generation high-density computing infrastructure.
The two-phase liquid-cooled cold plate module industry chain consists of upstream materials and key components, midstream module manufacturing and system integration, and downstream AI and data center applications. The upstream sector includes high thermal conductivity materials, microchannel fabrication technology, sealing structures, and phase change media, and also involves thermal management control components. The midstream comprises cold plate module manufacturers and liquid cooling system vendors, responsible for cold plate design, microstructure fabrication, and system integration. The downstream sector comprises AI computing power and cloud computing infrastructure, including NVIDIA GPU server clusters, Amazon Web Services, and Google Cloud data centers. The overall industry exhibits a cross-disciplinary integration structure driven by "materials engineering + precision manufacturing + AI computing power demand."
Against the backdrop of continuously increasing GPU power consumption driven by large-scale AI model training, traditional air cooling and single-phase liquid cooling are gradually approaching their thermal management limits. Two-phase liquid-cooled cold plate modules have thus become an important direction for next-generation high-density heat dissipation technology. Their core advantage lies in utilizing the latent heat of phase change to achieve higher heat flux density processing capabilities, supporting the development needs of future ultra-large-scale AI clusters and high-density data centers. The industry will be in the pilot and small-scale introduction phase from 2025 to 2027, and will enter an accelerated penetration period after 2028 with the expansion of AI computing power infrastructure, gradually evolving towards CPO and chip-level thermal management. In the long run, this technology will become one of the standard heat dissipation solutions for high-power AI computing systems.
This report is a detailed and comprehensive analysis for global Two-phase Liquid-cooled Cold Plate Module 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 Two-phase Liquid-cooled Cold Plate Module market size and forecasts, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2021-2032
Global Two-phase Liquid-cooled Cold Plate Module market size and forecasts by region and country, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2021-2032
Global Two-phase Liquid-cooled Cold Plate Module market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2021-2032
Global Two-phase Liquid-cooled Cold Plate Module market shares of main players, shipments in revenue ($ Million), sales quantity (K 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 Two-phase Liquid-cooled Cold Plate Module
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 Two-phase Liquid-cooled Cold Plate Module 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 Feirongda, Envicool, Lengtrol, Beitou Xinchuang Technology, LiquidStack, NVIDIA, Yinlun, ZutaCore, Schneider Electric, Asetek Europe, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Market Segmentation
Two-phase Liquid-cooled Cold Plate Module 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
700–1500W
Over 1500W
Others
Market segment by System Architecture
Rack-level Cold Plate System
Rack-level Liquid Cooling System
Chip-level Direct Liquid Cooling
Market segment by Application
Data Centers
Electronics & Power
Others
Major players covered
Feirongda
Envicool
Lengtrol
Beitou Xinchuang Technology
LiquidStack
NVIDIA
Yinlun
ZutaCore
Schneider Electric
Asetek Europe
ERG Aerospace
Fabric8Labs
Guangdong Hec
Gigabyte
Wieland Electronics Cooling GmbH
Calyos
Nidec
Advanced Cooling Technologies (ACT)
ThermAvant Technologies
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 Two-phase Liquid-cooled Cold Plate Module product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Two-phase Liquid-cooled Cold Plate Module, with price, sales quantity, revenue, and global market share of Two-phase Liquid-cooled Cold Plate Module from 2021 to 2026.
Chapter 3, the Two-phase Liquid-cooled Cold Plate Module competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Two-phase Liquid-cooled Cold Plate Module 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 Two-phase Liquid-cooled Cold Plate Module 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 Two-phase Liquid-cooled Cold Plate Module.
Chapter 14 and 15, to describe Two-phase Liquid-cooled Cold Plate Module sales channel, distributors, customers, research findings and conclusion.
Summary:
Get latest Market Research Reports on Two-phase Liquid-cooled Cold Plate Module. Industry analysis & Market Report on Two-phase Liquid-cooled Cold Plate Module is a syndicated market report, published as Global Two-phase Liquid-cooled Cold Plate Module Market 2026 by Manufacturers, Regions, Type and Application, Forecast to 2032. It is complete Research Study and Industry Analysis of Two-phase Liquid-cooled Cold Plate Module market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.