全球冷却行业：引入 2027 年预期；因人工智能服务器销量增长上调全球服务器冷却总可寻址市场（TAM）-Global Cooling_ 2027E introduced; Global Server cooling TAM raised on higher AI server volumes

Summary of Global Server Cooling Market Conference Call Industry Overview - The conference call discusses the Global Server Cooling market, particularly focusing on the AI server segment and the adoption of liquid cooling technologies. Key Points and Arguments 1. Market Forecasts: - The Global Server Cooling Total Addressable Market (TAM) is projected to grow significantly, with estimates for 2025 and 2026 raised to US$7.9 billion and US$14.0 billion, respectively, reflecting a 9% and 16% increase from previous estimates [1][2][16]. - The TAM for AI training servers is expected to increase from US$1.5 billion to US$12.4 billion from 2024 to 2027, representing a 101% CAGR [1]. 2. Liquid Cooling Penetration: - Liquid cooling penetration rates for AI training servers are forecasted to reach 15% in 2024, escalating to 80% by 2027. For AI inferencing servers, penetration is expected to rise from 1% to 20% over the same period [1][2][17]. - The ongoing increase in liquid cooling adoption is attributed to the rising computing power of GPUs and ASICs, denser server designs, and the need for improved power efficiency in data centers [1]. 3. Growth Drivers: - The growth in the cooling TAM is driven by the increasing volume of high-power AI servers that require advanced cooling solutions, particularly liquid cooling, which offers higher cooling efficiency compared to air cooling [1][2][16]. - Innovations in cooling technologies, such as double-sided cold plates and microfluidics solutions, are enhancing heat exchange efficiency and thermal performance, further supporting the growth of the liquid cooling market [22]. 4. Market Dynamics: - The report indicates a strong year-over-year growth forecast for the server cooling market, with 111% growth expected in 2025 and 77% in 2026 [8][23]. - The cooling solutions market is evolving with new designs and technologies to meet the increasing thermal demands of AI servers [22]. 5. Competitive Landscape: - Key players in the liquid cooling market include companies like Wiwynn, Lenovo, Dell, and HP, with varying ratings and market caps provided [28]. - The report highlights the importance of customization and rapid response capabilities for cooling suppliers to adapt to new technologies and market demands [22]. Additional Important Content - The report includes detailed tables summarizing the projected TAM for various server types, including AI training, general, and HPC servers, along with their respective liquid cooling penetration rates [2][8][23]. - It emphasizes the need for cooling suppliers to enhance their product offerings and capabilities to keep pace with technological advancements in the server industry [22]. This summary encapsulates the critical insights from the conference call regarding the Global Server Cooling market, focusing on growth forecasts, market dynamics, and competitive landscape.