Cold Plates Market Size - By Material Type, Technology, Heat Flux Capacity, Application, Industry Analysis, Share, Growth Forecast 2025 - 2034

Cold Plates Market Size

The global cold plates market was estimated at USD 421.5 million in 2024. The market is expected to grow from USD 446.3 million in 2025 to USD 774.6 million in 2034, at a CAGR of 6.3%, according to latest report published by Global Market Insights Inc.

• The cold plates market is evolving with changes and technology and multiple trends working together. The prime driver of this growth in the market is the increasing demand for efficient thermal management solutions in electronic devices. The increasing power and miniaturization of consumer electronics and data centers and industrial machinery bring into critical focus the need for efficient heat management solutions to performance and life considerations. Cold plates are significant in drawing heat away from high-performance electronics, which thus influences their widespread application.
   
• The automotive industry, especially in terms of the evolution toward electric vehicles (EV), is the next initiative. Electric vehicles require high-end cooling systems for managing heat from battery packs as well as from power electronics, propelling the development of new designs for cold plates. Cold plates adopt a similar purpose in the renewable energy field, mostly with solar and wind systems, for cooling power electronics and inverters that increase business dimensions in the market.
   
• With an increase in industrial automation and the establishment of data centers across the globe, climatic needs continue to grow. Overall, the totality of the above indicates a bright future for global cold plates, given the increased solicitation on all these industries for energy-efficient, space-efficient, durable thermal management solutions.
   
• North America is the largest market for cold plates due to advancement in technology and research facilities in U.S. & Canada.
   
• Latin America is the fastest growing region for cold plates market, due to increasing usage in different sectors, the region can enhance its performance in this market in the coming years.
   

Cold Plates Market Trends

• The cold plates industry is undergoing tremendous transformation largely because of advancing technology, regulatory frameworks & evolving product demands. The advancements in materials and processes have created cold plates that are becoming increasingly efficient, lightweight and highly thermally conductive.
   
• Regulatory frameworks are increasingly stringent on aspects related to environmental sustainability and safety standards. The governments, in cooperation with the industry bodies, are adopting strict regulations on the use of hazardous materials as well as waste management to push for more eco-friendly and compliant manufacturing practices. Such a regulatory environment gives attention to more green alternatives including biodegradable coolants and recyclable materials thus stimulating more market development.
   
• Product demand changes with increasing demand for better thermal management. In electronics, a compact yet efficient cold plate is necessary for dissipating heat within high-power electronic device applications, data centers, and electric vehicles. Lightweight, durable, and efficient battery packs are needed for different applications, including power electronics in electric vehicles. Cooling requirements vary in the aeronautics and renewable energy sectors, which increasingly require cold plates for extreme conditions, having high thermal conductivity and corrosion resistance.
   

Cold Plates Market Analysis

Based on material type, the market is segmented into copper, aluminum, stainless steel, hybrid, and other.
 

• Copper remains one of the best choices as a material in cold plates, due to its excellent thermal conductivity and suitability for some of the most demanding electronic cooling applications. Aluminum is also important, valued very much for being light and having reasonably good thermal performance, in industries such as automotive and aerospace. Stainless steel, being known for strength, durability, and corrosion resistance, is expected to take considerable market share, especially in harsh or very special application environments.
   
• Hybrid materials give the best solution for thermal efficiency and structural integrity and are paving the way to more innovative solutions that respond to needs in industry's requirements. There will be more such offerings in the future under "others," which cover customized alloys and other special composites. Innovations in material and advancements in how things operate continue to lead the industry and market that are likely to expand further as industries demand these new technologies in need of more efficient, durable, and lightweight cooling solutions.
   

Based on technology, the cold plates market is segmented into stamped cold plates, machined cold plates, microchannel cold plates, formed tube cold plates, flat tube cold plates, and deep drilled cold plates.
 

• Stamped cold plates dominate the technology segment due to the cheaper manufacturing costs that meet conditions requiring a moderate level of performance. It uses aluminum stamping combined with controlled atmosphere brazing (CAB) to create light, low-cost applications for automotive and industrial uses.
   
• Machined cold plates command a 19.5% market share in 2024 with 6.4% CAGR with maximum customization capability by means of precision CNC machining and specialized brazing techniques. It works well with complex flow path geometries, precise mounting features, and the integration of fin inserts to enhance heat transfer for high-performance applications like AI/cloud computing and advanced semiconductors.
   
• Microchannel cold plates represent a 15.4% market share with a 6.5% CAGR in advanced manufacturing to create channels with dimensions optimized for enhancing heat-transfer coefficients.
   
• Formed tube and flat tube cold plates have special advantages in defined configurations with diverse cooling requisites. Deep drilled cold plates, although small, are balancing out emerging recognition for their ability to deal with high heat fluxes and demanding environments. The transition toward advanced manufacturing techniques and new designs that enhance thermal performance, reliability & customization to suit changing demands of the industry is currently being observed.
   

Based on heat flux capacity, the cold plates market is segmented into standard heat flux (50 W/cm²), high heat flux (50-200 W/cm²), very high heat flux (200-500 W/cm²), and ultra-high heat flux (>500 W/cm²).
 

• Standard heat flux capacity requiring heat transfer rating less than 50 W/cm² has accounted for 43.3% share in 2024, it caters to most of the industrial electronics, automotive, and other general thermal management applications. This segment enjoys the benefit of established mass production and is therefore able to offer low-cost solutions aimed at everyday use.
   
• High heat flux capacity systems (50-200 W/cm²) with a market share of 27.8% are concerned here with advanced cooling of electronics, including high-performance processors and power electronics as well as telecommunication equipment, which demand enhanced heat transfer mechanisms such as optimized channel designs and advanced materials.
   
• Very high heat flux capacity cold plates (200-500 W/cm²) contribute 20.2% market share, focusing on high power semiconductors, laser cooling & advanced computing systems.
   
• Ultra-high heat flux capacity systems (>500 W/cm²) constitute about 8.7% of the market share, denoting increasing demand for extreme cooling applications involving AI/ML processors, quantum computing, and advanced defense electronics.
   

Based on application, the cold plates market is segmented into data centres, electric vehicles, aerospace & defense, industrial electronics, medical equipment, telecommunication equipment, and others.
 

• Electric vehicles are a fast-growing sector, necessitating new cooling systems to boost performance and safety. Data centers remain one of the main application areas where cooling is being developed with great concern for performance, to cater to computation loads, and energy efficiency.
   
• Aerospace and defense applications require highly reliable and lightweight cooling solutions to ensure safety and operation under extreme environments. Industrial electronics require high thermal management reliability to withstand overheating and increase the lifespan of the equipment. Medical equipment applications have witnessed changes with advancements in healthcare technology requiring their cooling systems to maintain precision and reliability.
   
• Telecommunication equipment, paramount in networking stability; also benefits from improved cold plate solutions. The market trend is shifting toward integrated, energy-efficient cooling systems designed to meet the particularities of each application, thus fueling innovation across multiple industries.
   

North America accounted for a largest share of the global cold plates market with 33.4% of the market share in 2024 and 5.6% CAGR through 2034.
 

• The North American market is characterized by advanced technology and high adoption rates across varied industries, including but not limited to data centers, aerospace, and medical equipment. The presence of major market players along with strong R&D investments is further fueling growth of the market. Growing demand for efficient thermal management solutions in support of high-performance electronics and data centers is driving the innovation and market growth in this region.
   

Europe cold plates accounted for USD 102 million in 2024 and is anticipated to show lucrative growth over the forecast period.
 

• Environmental regulations and energy efficiency have been providing momentum to the European cold plates market. Gradual growth is being attributable to cooling solutions put in place for aerospace and automotive applications and even some industrial applications. Besides, the region actively promotes the development and deployment of innovative cold plate designs. Collaboration among research institutions and industry players also supports the market outlook.
   

The Asia Pacific market is anticipated to grow at the CAGR of 6.9% during the analysis timeframe.
 

• Asia Pacific is a rapidly growing region for the cold plates market, considered one of the most booming, especially due to the increased manufacturing and industrial activities in China, Japan, and South Korea. The flourishing electronics and automotive sectors, expanding investments in data centers, and telecommunication infrastructure are driving demand in the region, while cost-competitive advantages and technological advancements further strengthen market penetrations.
   

Latin America cold plates accounted for 6.9% market share in 2024 and is anticipated to show fastest growth over the forecast period.
 

• The cold plates market in Latin America is blooming, and growth here is mainly due to the expanding industrial sector and increased adoption by electronics and medical equipment. Brazil and Mexico are registering increasing investments in infrastructure and technologies, thus supporting the market development.  
   

Middle East & Africa cold plates accounted for 7% market share in 2024 and is anticipated to show lucrative growth over the forecast period.
 

• The Middle East and Africa offer a developing market for cold plates with growth opportunities for aerospace, defense, and industrial sectors. Increased focus on modernization of infrastructure along with investment in the oil and gas and telecommunications sectors has created demand for advanced thermal management solutions. With diversification of regional economies plus investments for technological upgrades, the pace of market growth is expected to accelerate.
   

Cold Plates Market Share

The top 5 companies in the cold plates industry include Boyd Corporation, Wakefield Thermal Solutions, DeltaT Aerospace, Advanced Cooling Technologies (ACT), Wieland Thermal Solutions. These are prominent companies operating in their respective regions covering 54% of the market share. These companies hold strong positions globally due to their experience in cold plates market. Their diverse product portfolios, backed by robust production capabilities and distribution networks, enable them to meet the rising demand across various regions.
 

• Boyd is the strong player in this market, providing an extensive range of thermal management, including cold plates, heat exchangers, and entire liquid cooling systems. Cost-effective applications include stamped cold plates from Boyd, machined and brazed designs for high performance include the elite constructions for the extreme environment.
   
• Wakefield Thermal, Inc is a company that emphasizes the high-performance thermal interface materials and cooling solutions, which have strength from electronics and semiconductor applications. Best valued here is the advanced materials and precision manufacturing, which helped build long-term relationships with the leading technology companies whose requirements are about cutting-edge thermal management.
   
• ACT - Advanced Cooling Technology is different as it specializes in two phase cooling systems and extreme performance applications. It works with aerospace, defense, and industrial markets that require specialized thermal management solutions beyond conventional cold plate capabilities.
   
• DeltaT Aerospace Pvt Ltd is a company that manufactures thermal management systems for different sectors of aerospace and defense. They manufacture solutions for avionics, spacecraft, and military electronics operating in extreme environments. The company's strength is based on lightweight, high-reliability designs that meet extremely important aerospace requirements.
   
• Wieland Thermal Solutions applies material expertise and various advanced production processes across the automotive, electronics, and industrial markets. The company is positioned in a way that makes it stronger in copper and aluminum processing for material optimization and cost management to various applications.
   

Cold Plates Market Companies

Major players operating in the cold plates industry include:

• Advanced Cooling Technologies (ACT)
• Boyd Corporation
• Dana Incorporated
• DeltaT Aerospace
• Kawaso Texcel
• KenFa Tech.
• Mersen
• Pantronics India
• QATS
• TE Technology, Inc
• Tesio
• Wakefield Thermal Solutions
• Wieland Thermal Solutions

Cold Plates Industry News

•  On October 15, 2024, Mersen Electrical Power completed the strategic acquisition of KTK Thermal Technologies, a privately held cooling specialist based in Macedon, New York. The acquisition added KTK’s advanced liquid and air-cooling capabilities to Mersen’s portfolio, enhancing its technical competencies and manufacturing footprint in North America. This acquisition was strategically important as it consolidated Mersen’s thermal management operations, supported its U.S. manufacturing expansion, and strengthened its position in the cold plates market for electric vehicles and industrial electronics.
   
• In June 2025, Dana divested its Off-Highway business to Allison Transmission for USD 2.7 billion, allowing the company to reallocate resources toward its electrification and thermal management segments. This move strategically sharpened Dana’s focus on high-growth areas like electric vehicle cold plates and integrated cooling systems, aligning with its clean-tech business backlog and long-term transformation goals.
   

This cold plates market research report includes in-depth coverage of the industry, with estimates & forecasts in terms of revenue (USD Million) and volume (Kilo Tons) from 2025 to 2034, for the following segments:

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Market, By Material Type

• Copper
• Aluminum
• Stainless steel
• Hybrid
• Others

Market, By Technology

• Stamped cold plates
• Machined cold plates
• Microchannel cold plates
• Formed tube cold plates
• Flat tube cold plates
• Deep drilled cold plates

Market By Heat Flux Capacity

• Standard heat flux (50 W/cm²)
• High heat flux (50-200 W/cm²)
• Very high heat flux (200-500 W/cm²)
• Ultra-high heat flux (>500 W/cm²)

Market By Application

• Data centres
• Electric vehicles
• Aerospace & defense
• Industrial electronics
• Medical equipment
• Telecommunication equipment
• Others

The above information is provided for the following regions and countries:

• North America  
  • U.S.
  • Canada
• Europe  
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific  
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America  
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East and Africa  
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of Middle East and Africa