Liquid cooling systems are susceptible to possible leakage due to rusting or tearing. This may lead to exposure of cooling fluids into the open, affecting the data center operations, and it can also lead to health concerns for the employees. Apart from this, higher cost of implementation is another bigger aspect that might challenge the growth of liquid cooling technologies.

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The IT and telecom industry is the largest contributor to the demand for the entire data center industry, let alone the market for data center liquid cooling. The industry is driven by data transmission and data processing, with the IT industry producing the largest amount of data from data-intensive applications. The IT and telecom industries are considered to be the backbone for all other industries as communication is a key factor in the growth of a modern economy. Similarly, the banking, financial services, and insurance (BFSI) industry also plays a huge role in the economy, and due to the ongoing efforts of dematerialization, the BFSI industry is expected to further push the demand for data centers.

Hyperscale data centers are responsible for cloud services and cloud computing applications. Due to the ongoing trend and increased migration from physical computing to cloud computing, hyperscale data centers have been producing more demand as compared to other data center types. Some of the leading hyperscale operators such as Alibaba, Microsoft, and Google have already enacted these technologies and are expected to further drive the market.

Europe dominated the data center liquid cooling market in 2020 and is anticipated to uphold its dominance throughout the forecast period. The growth in the market is majorly driven by the increasing emphasis on sustainable development efforts and government activities to promote environmental protection laws and policies, along with large-scale adoption of technologies to support green initiatives and the ongoing trends for digital transformation.

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The competitive landscape of the data center liquid cooling market consists of different strategies undertaken by major players across the industry to gain market presence. Some of the strategies adopted by the companies are new product launches, business expansions, and partnerships and collaborations. Most of the companies have numerous tie-ups with various solution providers and data center operators. For instance, in April 2021, Microsoft announced its partnership with Wiwynn to test two-phase immersion cooling for its data centers. The company also successfully installed its first liquid cooling system for high-performance computing (HPC) at a data center located in Washington, U.S., in April 2021. In November 2020, Iceotope, along with Avnet and Schneider Electric, announced a strategic partnership to jointly develop chassis-level immersion-cooled data center solutions. Iceotope has also partnered with Lenovo to deploy its ThinkSystem SR670 servers in a highly scalable, GPU-rich, liquid-cooled Micro Data Center solution offered by Lenovo.

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