Leading Companies in Data Center Liquid Cooling: Strategic Moves and Growth

Data Center Liquid Cooling: leading companies

Sources: the numbered public sources listed below.

Who leads this market

Submer is a prominent leader, having disclosed over 150 million euros in revenue in 2024 [1]. The company secured $55.5 million in Series C / Growth funding in October 2024 to expand its immersion-cooling systems adoption [4][2]. Submer Group launched Corenix in September 2026, a modular data center infrastructure company, after deploying over 500MW of liquid-cooled infrastructure [7]. This indicates a strong position in both technology and deployment. STULZ also demonstrates leadership by delivering full-stack cooling solutions for high-density AI and HPC data centers, as highlighted in October 2026 [11][12]. The market was worth $3.9 Bn in 2025 and is forecast to reach $71.7 Bn by 2035, a CAGR of 33.8%.

How the leaders compete

Leaders compete through strategic acquisitions, funding, and partnerships. Submer acquired Radian Arc Operations in February 2026, repositioning itself as a full-stack AI infrastructure provider [6]. This expands its offering beyond just cooling. Submer also partnered with Boston and Hammer Distribution in March 2026 to expand liquid cooling solutions across the UK and Europe [7][8][9]. In February 2026, Submer partnered with Anant Raj Cloud to accelerate AI-ready infrastructure deployment in India [10]. STULZ competes by launching new products like CyberCool CMU in May 2024 to maximize heat exchange efficiency [9]. They also established Solution Validation Centers in 2024 to support evolving data center demands [11].

Recent moves that changed the field

Several recent moves have reshaped the competitive landscape. DCX Liquid Cooling Systems raised approximately $176 million in September 2026 through a strategic equity investment [2]. ZutaCore raised $100 million in June 2026 to accelerate the commercial deployment of its waterless liquid-cooling technology [3]. These significant funding rounds indicate growing investor confidence and potential for rapid expansion. Iceotope announced in July 2026 that it is now a co-design house, collaborating with OEMs to embed precision liquid cooling technology into their products [10]. This shift towards embedded solutions could influence future product development across the industry.

Challengers to watch

Challengers to watch include companies securing substantial funding and focusing on innovative technologies. ZutaCore, with its $100 million funding in June 2026, is accelerating the commercial deployment of waterless liquid-cooling technology [3]. This specialized approach could disrupt traditional liquid cooling methods. Iceotope, which closed a $26 million funding round in May 2026, is advancing product and engineering development and expanding ecosystem partnerships [5][3][4]. Its move to become a co-design house collaborating with OEMs in July 2026 positions it as an important partner in integrating liquid cooling directly into hardware [10]. These companies are investing in R&D and strategic alliances to gain market share.

Where the competitive gaps are

Competitive gaps exist in specific technology niches and geographic expansion. While Submer focuses on immersion cooling and full-stack AI infrastructure [4][6], and ZutaCore on waterless solutions [3], there may be opportunities for companies specializing in hybrid cooling systems or advanced heat recovery. Geographic expansion, particularly in emerging markets, also presents gaps. Submer's partnerships in the UK and India [7][8][9][10] highlight the importance of regional presence. Companies that can offer comprehensive, localized support and integrate diverse cooling technologies effectively could fill these gaps. The market's rapid growth suggests ongoing demand for varied solutions.

What it means for buyers, suppliers and investors

For buyers, the increasing competition and technological advancements mean more diverse and efficient liquid cooling solutions are becoming available. The focus on full-stack solutions by companies like Submer [6] and comprehensive offerings from STULZ [11][12] simplifies procurement. Suppliers face a dynamic market requiring continuous innovation and strategic partnerships to remain competitive. The significant funding rounds for companies like DCX Liquid Cooling Systems ($176 million) [2] and ZutaCore ($100 million) [3] indicate strong investor confidence. Investors should note the market's robust growth forecast, from $3.9 Bn in 2025 to $71.7 Bn by 2035, a CAGR of 33.8%, suggesting substantial long-term opportunities.

About the data

Facts in this companies analysis come from the dated public sources listed below - company announcements and filings, regulators and business and trade news - cited by number in the text. Market size figures are Market-Reports.com estimates (US dollars, base year 2025, forecast to 2035). Statements about what developments mean are our assessment, not reported fact.

Sources

1. [1] qai.io
2. [2] newmarketpitch.com
3. [3] datacenterdynamics.com
4. [4] iceotope.com
5. [5] datacenterfrontier.com
6. [6] capacityglobal.com
7. [7] datacentremagazine.com
8. [8] channellife.co.uk
9. [9] stulz.com
10. [10] iceotope.com
11. [11] indiatimes.com
12. [12] w.media