Global Two-phase Liquid-cooled Cold Plate Module Market Strategic Research Report

Scope of the Report

The global Two-phase Liquid-cooled Cold Plate Module market size is predicted to grow from US$ 354 million in 2025 to US$ 1,481 million in 2032; it is expected to grow at a CAGR of 22.8% from 2026 to 2032.

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.

Global key Two-phase Liquid-cooled Cold Plate Module players cover Feirongda, Envicool, Lengtrol, Beitou Xinchuang Technology, LiquidStack, etc.

Key Questions Addressed in this Report

What is the 10-year outlook for the global Two-phase Liquid-cooled Cold Plate Module market?

What factors are driving Two-phase Liquid-cooled Cold Plate Module market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Two-phase Liquid-cooled Cold Plate Module market opportunities vary by end market size?

How does Two-phase Liquid-cooled Cold Plate Module break out by Type, by Application?

This report presents a comprehensive overview of the global Two-phase Liquid-cooled Cold Plate Module market, covering market size and forecast, segmentation by product type and application, competitive landscape, leading players and regional and country-level outlook.

Segment by Type

• 700–1500W
• Over 1500W
• Others

Segment by System Architecture

• Rack-level Cold Plate System
• Rack-level Liquid Cooling System
• Chip-level Direct Liquid Cooling

Segment by Application

• Data Centers
• Electronics & Power
• Others

Who Can Use This Report?

This report is written for decision-makers who need a clear, data-backed view of the global Two-phase Liquid-cooled Cold Plate Module market:

• Manufacturers, suppliers and solution providers benchmarking their position and planning product, capacity and go-to-market strategy
• Distributors, channel partners and end users in Data Centers, Electronics & Power, Others evaluating demand and sourcing options
• Investors, financial analysts and consultants assessing growth opportunities, competitive dynamics and M&A potential
• Government agencies, industry associations and research institutions tracking industry developments and policy impact