Global Cold Plate Market Size By Type (Formed Tube Cold Plate, Deep Drilled Cold Plate), By Application (High Power Electronic Equipment, Laser Device, Power Conversion Equipment), By Geographic Scope And Forecast

Cold Plate Market Size And Forecast

Cold Plate Market size was valued at USD 357 Million in 2024 and is projected to reach USD 538 Million by 2031, growing at a CAGR of 5.3% from 2024 to 2031

Innovation and development in the market space of automobile components & medical equipment are expected to create substantial demand space for liquid cooling. Thus, creating numerous opportunities for the manufacturers. The Global Cold Plate Market report provides a holistic evaluation of the market. Market expansion is anticipated owing to the different driving factors including the growing adoption of Cold Plate across high-power electronic equipment, power conversion equipment, and medical equipment, amongst others. Thus, the growing adoption of Cold Plate is fueling the growth of the market during the forecasted period.

Global Cold Plate Market Definition

The cold plate is a liquid cooling solution consisting of internal tubing through which a liquid coolant is forced to absorb heat transferred to the plate by transistors and other components mounted on it. It is made up of aluminum or any other plate. It allows the heat to be efficiently conducted by making direct contact between the Cold Plate and the object to be cooled. Cold plates improve heat transfer operations by transferring heat from the plate’s surface to the cooling liquid running via its internal channels via conduction.

The continuous heat transfer technology enables high-performance electrical thermal control in a variety of modern applications. The cold plate offers many advantages over forced air-cooled heat sinks such as performance, noise level, and reliability. Along with this, there are numerous other features involved in the implementation & development of the Liquid Cold Plate Market across the globe in the past few years.

Global Cold Plate Market Overview

The Global Cold Plate Market is witnessing potential growth during the forecasted period owing to the growing adoption of cold plates across high-power electronic equipment, laser devices, power conversion equipment, and medical equipment, amongst others. Cold plates allow higher heat transfer at lower flow rates than air cooling and provide direct localized cooling for high-powered modules. Thus, cold plates have potential applications in power conversion equipment and high-power electronic equipment. The growing development of power plants and the building of new power plants around the world are aiding the growth of the Global Cold Plate Market.

Different countries around the world are investing in different energy generation projects for generating a high amount of energy to balance supply and demand. There are more than 341,000 wind turbines in the world that produce wind power. Jiuquan Wind Power Base is the world’s biggest wind farm, with a planned installed capacity of 20GW. The government of China is committed to expanding the Jiuquan Wind Power Base, also known as the Gansu Wind Farm Project, to achieve 400GW of wind capacity by 2030 and 1,000GW by 2050.

Also, Triton Knoll Offshore wind project was confirmed in January 2020 and started construction with an investment of USD 6 Billion. Furthermore, Canada invested USD 8.7 Billion to develop Keeyask Hydropower Generating Station Project. The construction was started in 2014 and is expected to be completed by the end of 2021. There are other major renewable energy projects are being developed in 2021 by many other countries around the world.

In addition, innovation and development in the market space of automobile components & medical equipment are expected to create substantial demand space for liquid cooling. Thus, creating numerous opportunities for the manufacturers. Also, engineers are exploring cooling methods of increasing complexity to miniaturize high-powered electronics and achieve the required component density. As a result, cold-plate technology has been reintroduced and reimagined. However, the high cost associated with fabricating liquid cold plates is one of the challenging factors which can hinder the growth of this market.

Global Cold Plate Market Segmentation Analysis

The Global Cold Plate Market is Segmented on the basis of Type, Application, And Geography.

Cold Plate Market, By Type

• Formed Tube Cold Plate
• Deep Drilled Cold Plate
• Machined Channel Cold Plate
• Pocketed Folded-fin Cold Plate
• Others

Based on Type, the market is segmented into Formed Tube Cold Plate, Deep Drilled Cold Plate, Machined Channel Cold Plate, Pocketed Folded-fin Cold Plate, and Others. The Formed Tube Cold Plate segment is holding the largest market share and is projected to grow during the forecast period. A formed Tube Cold Plate or FTCP consists of an aluminum block with an embedded, coolant-filled metal tube. It implements localized power electronics cooling by transferring heat from the device to a liquid that flows through a remote heat exchanger and dissipates into either the environment or another liquid in a secondary cooling system. Thus, the demand for FTCP is high. However, Pocketed Folded-fin Cold Plate segment is growing with the highest CAGR during the forecasted period due to growing demand.

Cold Plate Market, By Application

• High Power Electronic Equipment
• Laser Device
• Power Conversion Equipment
• Medical Equipment
• LED
• Others

Based on Application, the market is segmented into High Power Electronic Equipment, Laser Device, Power Conversion Equipment, Medical Equipment, LED, and Others. The high Power Electronic Equipment segment accounted for the largest market share in 2021. The segment is expected to account for the highest share with USD 125.24 Million by 2030, as is projected to grow with a significant CAGR during the forecast period. Because high-power electrical devices have very low loss, their efficiency is quite high. High-power electronic equipment is extremely dependable. Because there are no moving parts in high-power electronic devices, they have a long life and a low maintenance cost. However, the Medical Equipment segment is expected to grow with the highest CAGR during the forecast period.

Cold Plate Market, By Geography

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

On the basis of Geography, the Global Cold Plate Market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America holds a significant market share in 2021 and is projected to grow slowly during the forecast period. The demand for Cold plates across High-Power Electronic Equipment, Laser Devices, and Power Conversion Equipment, amongst others is high across North America. Canada invested USD 8.7 Billion to develop Keeyask Hydropower Generating Station Project. The construction was started in 2014 and is expected to be completed by the end of 2021. There are other major renewable energy projects are being developed across the region. However, the Asia-Pacific region is expected to grow with the highest CAGR during the forecasted period owing to the growing demand for cold plates.

Key Players

The “Global Cold Plate Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Boyd Corp (Aavid), Lytron, Asia Vital Components, Wakefield-Vette, Wolverine Tube, Xenbo Electric, Columbia-Staver, TAT Technologies, Ellediesse, Advanced Cooling Technologies (ACT), and DAU.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In July 2019, Boyd announced the acquisition of Lytron Inc., which will strengthen Boyd’s worldwide manufacturing structure and engineering capabilities for liquid-cooled systems.
• In January 2019, Parker Hannifin Corporation’s Precision Cooling Business was acquired by ACT (PCB). Parker’s PCB was a pioneer in Two-Phase Pumped Loop (TTPL) or Pumped Two-Phase (P2P) technology.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Cold Plate Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Cold Plate Market is experiencing a scaled level of attractiveness in the North American region. The North American area has a prominent presence and will account for the highest market share by 2030. The region accounted for an incremental value of USD 77.58 Million between 2023 to 2030. The significant demand across the United States is one of the major factors driving the growth across the North American market. U.S. is growing with a substantial CAGR over the forecast period.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a