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市場調查報告書
商品編碼
2099946

歐洲GPU液冷：市佔率分析、產業趨勢與統計及成長預測（2026-2031年）

Europe GPU Liquid Cooling - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026 - 2031)
出版日期: | 出版商: Mordor Intelligence | 英文 170 Pages | 商品交期: 2-3個工作天內

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簡介目錄

歐洲GPU液冷市場預計將從2025年的11.7億美元成長到2026年的14億美元，到2031年達到41.5億美元，2026年至2031年的複合年成長率為24.37%。

本報告按冷卻方式（單相液冷和兩相液冷）、冷卻等級（組件級冷卻和伺服器/機架級冷卻）、部署類型（超大規模/雲端、企業級、政府和科研機構高效能運算、邊緣人工智慧）、GPU功率密度（小於300W、300W-700W、大於700W）以及以及地區進行細分。市場預測以美元計價。

歐洲GPU液冷市場的趨勢與洞察

歐洲資料中心生成式人工智慧工作負載的快速成長

用於大規模語言模型的訓練叢集正在迅速擴張，單一部署的功耗就超過每個機架 50 千瓦，這種密度是風冷根本無法應付的。巴黎的 13,800 個 GPU 部署和挪威的 10 萬個處理器園區等項目凸顯了國家主導的人工智慧計畫如何轉化為具體的資本投資。液冷技術可在晶片級散熱，將電源使用效率 (PUE) 降低到 1.15 以下，並降低專為風冷設計的設施中設備過時的風險。隨著使用生成式人工智慧的用戶對液冷的需求日益成長，提供液冷容量的供應商可以確保運轉率。這種工作負載的轉變正在向超超大規模資料中心業者以外的地區擴散，中型企業也開始在其更新周期的早期階段考慮採用液冷技術。隨著模型規模的擴大，對更高冷卻液回流溫度的需求不斷成長，以便與區域供熱系統整合，這也加速了液冷技術的普及。

歐盟嚴格的能源效率指令鼓勵採用液冷技術。

2024年更新的《能源效率指令》修訂版要求，對於超過500千瓦的資料中心，必須每年揭露其電力使用效率（PUE）、用水效率（WUE）、能源再利用率和可再生能源利用率。營運商必須提交餘熱回收計劃，只有PUE低於1.3的設施才能被歐盟分類法認定為綠色投資。透過採用出口溫度超過40 度C的液冷系統，業者可以將熱能出售給當地電網，從而提高專案盈利。德國和法國的先驅已在初始設計階段就整合了熱交換介面，降低了未來維修的複雜性。該指令也鼓勵超大規模資料中心業者在多區域部署中將GPU負載集中在液冷區域，加速需求集中化和供應鏈標準化。

歐洲現有資料中心維修需要高額初始投資。

用於空調分配的高架設施通常缺乏分散式冷卻系統所需的結構支撐和管道，導致維修成本有時甚至超過新冷卻硬體本身的價格。營運商必須權衡停機時間和搬遷成本，一些營運商選擇從一開始就採用液冷技術的待開發區項目，例如運作和柏林正在進行的價值 20 億歐元（22.9 億美元）的擴建項目。資金籌措障礙對託管服務提供者的影響尤其顯著，因為他們的升級理由取決於租戶合約。因此，超大規模資料中心業者加速採用液冷技術，而傳統的多租戶設施則推遲投資，直到運轉率緊張迫使他們做出決定。這種延遲雖然會略微減緩短期成長，但卻帶來了長期的維修機會。

細分市場分析

預計到 2025 年，單相解決方案將佔銷售額的 73.40%，凸顯其作為 GPU 液冷市場標準維修方案的地位。營運商無需重新設計設施基礎設施，即可透過添加晶片直冷板來充分利用現有冷卻設備，從而有效控制資本成本。隨著 GPU 功耗的逐步增加，單相冷卻方案能夠保持高達 700 瓦設備的效率，幫助託管服務供應商延長風冷機房的使用壽命。此外，標準化的快速斷開接頭簡化了維護並最大限度地降低了洩漏風險，也推動了市場需求。

儘管到2025年，兩相浸沒式冷卻僅佔整個市場的四分之一，但預計其複合年成長率將達到25.70%，超過歐洲GPU液冷市場的整體成長。超大規模資料中心業者正在為配備NVIDIA GB200顯示卡的機架採用這種冷卻方式，因為氣相傳熱消除了單相水循環中泵浦的功耗問題。 Submer和LiquidStack等廠商提供無需底盤承包水箱，將機架級噪音降低到近乎靜音的程度。通訊業者在街道和城域邊緣等對噪音有嚴格限制的場所，非常重視這些特性。隨著開放運算專案（OCP）標準的成熟，互通性的提高將逐步緩解目前廠商鎖定所帶來的問題。

預計到2025年，組件級冷板的出貨量將佔總出貨量的57.60%，這反映了歐洲GPU液冷市場企業用戶分階段升級的趨勢。 Asetek和CoolIT提供的冷板套件可直接安裝在標準GPU參考板上，無需改變機架佈局即可將結溫降低高達30 度C。企業用戶非常重視這種對營運影響極小的方案，尤其是在冷卻系統升級與計畫維護期重合的情況下。此外，維修還能讓他們繼續使用已經折舊免稅額的氣冷設備，例如機房內的空氣處理機組，以維持財務健康。

機架級系統雖然目前部署規模較小，但預計到2031年將以26.80%的複合年成長率快速成長。Schneider Electric、Littal和Vertiv等公司正在將泵浦、歧管和熱交換器整合到機架內部，以實現100千瓦的密度，以滿足超大規模資料中心的容量目標。這種方法加快了資料中心的擴展速度，因為機架出廠時已預先安裝管道，現場只需連接兩個供水和排水介面即可。德國電信在慕尼黑建造的擁有10,000個GPU的資料中心採用了這種架構，並在短短幾週內運作。這清楚地表明，這種架構在實現時間方面的優勢遠大於其較高的物料清單成本。

其他好處：

  • Excel格式的市場預測（ME）表
  • 3個月的分析師支持

目錄

第1章：引言

  • 研究假設和市場定義
  • 調查範圍

第2章：調查方法

第3章執行摘要

第4章 市場狀況

  • 市場概覽
  • 市場促進因素
    • 歐洲資料中心生成式人工智慧工作負載的快速成長
    • 歐盟嚴格的能源效率指令正在鼓勵採用液冷技術。
    • 隨著 GPU 功率密度超過 700W，先進的散熱管理變得至關重要。
    • 加速在通訊網路中部署邊緣人工智慧推理節點
    • 設定碳減排目標，鼓勵超大規模設施從空氣冷卻過渡到液體冷卻。
    • 歐盟復甦基金可用於升級高效能運算基礎設施
  • 市場限制因素
    • 歐洲老舊資料中心維修需要大量的初始資本投資。
    • 雙相冷卻劑的嚴格安全認證要求
    • 各廠商提供的冷板和歧管介面缺乏足夠的標準化。
    • 圍繞介電液體處理規定的擔憂
  • 宏觀經濟因素對市場的影響
  • 產業價值鏈分析
  • 監理情勢
  • 技術展望
  • 波特五力分析

第5章 市場規模與成長預測

  • 透過冷卻方式
    • 單相液體冷卻
    • 兩相液冷
  • 冷卻水平
    • 組件級冷卻
    • 伺服器/機架級冷卻
  • 不同的發展
    • 超大規模/雲
    • 公司
    • 政府和研究機構（高效能運算）
    • 邊緣人工智慧
  • 按類型分類的GPU功率密度
    • 小於300瓦
    • 300W～700W
    • 700瓦或以上
  • 按地區
    • 德國
    • 法國
    • 英國
    • 義大利
    • 其他歐洲國家

第6章 競爭情勢

  • 市場集中度
  • 策略趨勢
  • 市佔率分析
  • 公司簡介
    • Asetek A/S
    • CoolIT Systems Inc.
    • Submer Technologies SL
    • LiquidStack Inc.
    • Schneider Electric SE
    • GRC（Green Revolution Cooling）Inc.
    • Asperitas BV
    • Rittal GmbH and Co. KG
    • Lenovo Group Limited
    • Hewlett Packard Enterprise Company
    • Dell Technologies Inc.
    • NVIDIA Corporation
    • Super Micro Computer Inc.
    • Midas Immersion Cooling
    • Iceotope Technologies Limited
    • EBullient, Inc.
    • EKWB doo
    • Aquacomputer GmbH and Co. KG
    • Fujitsu Limited
    • Cisco Systems Inc.

第7章 市場機會與未來展望

簡介目錄
Product Code: 100525

According to Mordor Intelligence, the Europe GPU liquid cooling market is expected to increase from USD 1.17 billion in 2025 to USD 1.40 billion in 2026 and reach USD 4.15 billion by 2031, growing at a CAGR of 24.37% over 2026-2031.

This report is Segmented by Cooling Type (Single-Phase Liquid Cooling, and Two-Phase Liquid Cooling), Cooling Level (Component-Level Cooling, and Server/Rack-Level Cooling), Deployment (Hyperscale/Cloud, Enterprise, Government and Research HPC, and Edge AI), GPU Power Density (Below 300W, 300W-700W, and Above 700W), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

Europe GPU Liquid Cooling Market Trends and Insights

Rapid Proliferation of Generative AI Workloads in European Data Centers

Large language-model training clusters are scaling fast, with individual deployments running well above 50 kilowatts per rack, a density that air cooling fails to support. Projects such as the 13,800-GPU build in Paris and the 100,000-processor campus in Norway highlight how sovereign-AI ambitions are translating into concrete capital spend. Liquid cooling removes heat at the chip, lowering power-usage-effectiveness ratios to below 1.15 and mitigating stranded-asset risk for facilities designed around air handling. Operators able to offer liquid-cooled capacity secure premium utilization rates because generative-AI tenants now specify liquid cooling as mandatory. This workload shift is cascading beyond hyperscalers, prompting mid-market enterprises to evaluate liquid cooling earlier in their refresh cycles. As model sizes grow, demand for higher coolant-return temperatures that support district-heating integration is also accelerating adoption.

Stringent EU Energy Efficiency Directives Favoring Liquid Cooling Adoption

The 2024 revision of the Energy Efficiency Directive mandates annual disclosure of power-usage-effectiveness, water-usage-effectiveness, energy-reuse factor, and renewable-energy factor for data centers exceeding 500 kilowatts. Operators must present waste-heat recovery plans, and only facilities meeting power-usage-effectiveness below 1.3 qualify as green investments under the EU Taxonomy. Liquid cooling, with outlet temperatures above 40 °C, enables operators to sell thermal energy to municipal grids, improving project returns. Early adopters in Germany and France already integrate heat-exchange interfaces into the initial design, reducing retrofit complexity later. The directive also incentivizes hyperscalers to cluster GPU loads in liquid-ready zones within multiregion footprints, concentrating demand and accelerating supply-chain standardization.

High Initial Capital Expenditure for Retrofit in Legacy European Data Centers

Raised-floor facilities built for air distribution often lack the structural support and plumbing needed for distributed coolant units, making retrofits costlier than the new cooling hardware itself. Operators must weigh downtime against relocation expenses, with some choosing greenfield projects such as the EUR 2 billion (USD 2.29 billion) expansion in Frankfurt and Berlin that arrives liquid-ready from day one. Financing hurdles particularly affect colocation providers that rely on tenant commitments to justify upgrades. The result is a bifurcated market in which hyperscalers accelerate the deployment of liquid cooling while legacy multi-tenant facilities defer investment until utilization pressure forces a decision. This delay marginally tempers short-term growth yet opens long-term retrofit opportunities.

Other drivers and restraints analyzed in the detailed report include:

  1. Rising GPU Power Density Exceeding 700 W Necessitating Advanced Thermal Solutions
  2. Carbon Reduction Targets Driving Shift From Air to Liquid Cooling in Hyperscale Facilities
  3. Stringent Safety Certification Requirements for Two-Phase Coolants

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Single-phase solutions accounted for 73.40% of 2025 revenue, underscoring their role as the default retrofit path in the GPU liquid-cooling market. Operators leverage existing chilled-water plants by adding direct-to-chip cold plates without re-engineering facility infrastructure, keeping capital costs predictable. As GPU power envelopes creep upward, single-phase cooling maintains efficiency for devices up to 700 watts, helping colocation providers extend the life of air-cooled halls. Demand is also buoyed by standardized quick-disconnect couplings that simplify maintenance and minimize spill risk.

Two-phase immersion, while only a quarter of the 2025 total, is forecast to outpace overall Europe GPU liquid cooling market growth at a 25.70% CAGR. Hyperscalers adopt it for racks hosting NVIDIA GB200 configurations, where vapor-phase heat transfer removes the pump-power penalties facing single-phase water loops. Vendors such as Submer and LiquidStack offer turnkey tanks that eliminate chassis fans, cutting rack-level acoustic output to near-silent levels. Telecom operators value these characteristics for street-side and metro-edge sites with strict noise limits. As Open Compute Project standards mature, interoperability gains will chip away at current vendor lock-in concerns.

Component-level cold plates accounted for 57.60% of shipments in 2025, reflecting enterprise buyers' preference for incremental upgrades in the Europe GPU liquid-cooling market. Asetek and CoolIT supply cold-plate kits that bolt onto standard GPU reference boards, reducing junction temperatures by up to 30 °C without altering the rack layout. Enterprises appreciate the minimal operational disruption, especially when cooling upgrades coincide with scheduled maintenance windows. Retrofits also preserve depreciated air-cooling assets, such as computer room air handlers, protecting balance sheets.

Rack-level systems, while smaller in installed base, are expanding at a 26.80% CAGR to 2031. Schneider Electric, Rittal, and Vertiv integrate pumps, manifolds, and heat exchangers inside the rack envelope, enabling 100-kilowatt densities that meet hyperscale capacity targets. The approach accelerates site build-outs, as racks ship pre-plumbed and only require two facility water hookups. Deutsche Telekom's 10,000-GPU Munich build reached readiness in weeks using this architecture, illustrating time-to-value advantages that can outweigh higher bill-of-materials costs.

Complete Report Scope:

  • By Cooling Type
    • Single-Phase Liquid Cooling
    • Two-Phase Liquid Cooling
  • By Cooling Level
    • Component-Level Cooling
    • Server / Rack-Level Cooling
  • By Deployment
    • Hyperscale / Cloud
    • Enterprise
    • Government and Research (HPC)
    • Edge AI
  • By GPU Power Density
    • Below 300W
    • 300W - 700W
    • Above 700W
  • By Geography
    • Germany
    • France
    • United Kingdom
    • Italy
    • Rest of Europe

List of Companies Covered in this Report:

  1. Asetek A/S
  2. CoolIT Systems Inc.
  3. Submer Technologies SL
  4. LiquidStack Inc.
  5. Schneider Electric SE
  6. GRC (Green Revolution Cooling) Inc.
  7. Asperitas BV
  8. Rittal GmbH and Co. KG
  9. Lenovo Group Limited
  10. Hewlett Packard Enterprise Company
  11. Dell Technologies Inc.
  12. NVIDIA Corporation
  13. Super Micro Computer Inc.
  14. Midas Immersion Cooling
  15. Iceotope Technologies Limited
  16. EBullient, Inc.
  17. EKWB d.o.o.
  18. Aquacomputer GmbH and Co. KG
  19. Fujitsu Limited
  20. Cisco Systems Inc.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET LANDSCAPE

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Rapid Proliferation of Generative AI Workloads in European Data Centers
    • 4.2.2 Stringent EU Energy Efficiency Directives Favoring Liquid Cooling Adoption
    • 4.2.3 Rising GPU Power Density Exceeding 700W Necessitating Advanced Thermal Solutions
    • 4.2.4 Accelerated Deployment of Edge AI Inference Nodes in Telecom Networks
    • 4.2.5 Carbon Reduction Targets Driving Shift From Air to Liquid Cooling in Hyperscale Facilities
    • 4.2.6 Availability of EU Recovery Funds for High-Performance Computing Infrastructure Upgrades
  • 4.3 Market Restraints
    • 4.3.1 High Initial Capital Expenditure for Retrofit in Legacy European Data Centers
    • 4.3.2 Stringent Safety Certification Requirements for Two-Phase Coolants
    • 4.3.3 Limited Standardization of Cold Plate and Manifold Interfaces Across Vendors
    • 4.3.4 Concerns Around Dielectric Fluid Environmental Disposal Regulations
  • 4.4 Impact of Macroeconomic Factors on the Market
  • 4.5 Industry Value Chain Analysis
  • 4.6 Regulatory Landscape
  • 4.7 Technological Outlook
  • 4.8 Porter's Five Forces Analysis
    • 4.8.1 Threat of New Entrants
    • 4.8.2 Bargaining Power of Suppliers
    • 4.8.3 Bargaining Power of Buyers
    • 4.8.4 Threat of Substitute Products
    • 4.8.5 Intensity of Competitive Rivalry

5 MARKET SIZE AND GROWTH FORECASTS (VALUE)

  • 5.1 By Cooling Type
    • 5.1.1 Single-Phase Liquid Cooling
    • 5.1.2 Two-Phase Liquid Cooling
  • 5.2 By Cooling Level
    • 5.2.1 Component-Level Cooling
    • 5.2.2 Server / Rack-Level Cooling
  • 5.3 By Deployment
    • 5.3.1 Hyperscale / Cloud
    • 5.3.2 Enterprise
    • 5.3.3 Government and Research (HPC)
    • 5.3.4 Edge AI
  • 5.4 By GPU Power Density
    • 5.4.1 Below 300W
    • 5.4.2 300W - 700W
    • 5.4.3 Above 700W
  • 5.5 By Geography
    • 5.5.1 Germany
    • 5.5.2 France
    • 5.5.3 United Kingdom
    • 5.5.4 Italy
    • 5.5.5 Rest of Europe

6 COMPETITIVE LANDSCAPE

  • 6.1 Market Concentration
  • 6.2 Strategic Moves
  • 6.3 Market Share Analysis
  • 6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share, Products and Services, Recent Developments)
    • 6.4.1 Asetek A/S
    • 6.4.2 CoolIT Systems Inc.
    • 6.4.3 Submer Technologies SL
    • 6.4.4 LiquidStack Inc.
    • 6.4.5 Schneider Electric SE
    • 6.4.6 GRC (Green Revolution Cooling) Inc.
    • 6.4.7 Asperitas BV
    • 6.4.8 Rittal GmbH and Co. KG
    • 6.4.9 Lenovo Group Limited
    • 6.4.10 Hewlett Packard Enterprise Company
    • 6.4.11 Dell Technologies Inc.
    • 6.4.12 NVIDIA Corporation
    • 6.4.13 Super Micro Computer Inc.
    • 6.4.14 Midas Immersion Cooling
    • 6.4.15 Iceotope Technologies Limited
    • 6.4.16 EBullient, Inc.
    • 6.4.17 EKWB d.o.o.
    • 6.4.18 Aquacomputer GmbH and Co. KG
    • 6.4.19 Fujitsu Limited
    • 6.4.20 Cisco Systems Inc.

7 MARKET OPPORTUNITIES AND FUTURE OUTLOOK

  • 7.1 White-Space and Unmet-Need Assessment