A research report indicates that data center liquid cooling solutions show a clear trend, driving increased demand for liquid cooling components. Domestic automotive parts companies have accumulated R&D and mass production capabilities for core components such as pumps, valves, cold plates, and controllers in the automotive thermal management field, with many component companies also securing data center liquid cooling orders. The report highlights the second growth curve opportunities for automotive parts companies expanding into data center liquid cooling business under the synergy between automotive thermal management and data center liquid cooling technologies.
Key findings include:
AI chip power consumption increases drive accelerated adoption of data center liquid cooling solutions, boosting demand for core component quick disconnect (UQD) fittings. NVIDIA's Blackwell and Rubin architecture chips have exceeded 1000W power consumption, surpassing traditional air cooling limits and making liquid cooling technology shift from an optional to an essential solution. UQD fittings, as key components of liquid cooling technology, enable safe connection and rapid switching of coolant in liquid cooling systems, ensuring continuity and reliability of data center operations. Benefiting from NVIDIA's upgrade from GB200 to GB300 cabinets, UQD usage per cabinet can jump from 108 pairs to 252 pairs, with calculated UQD value per cabinet increasing 30% to 77,000 yuan.
To meet large-scale deployment requirements, UQD technology is evolving toward lightweight, standardized, and blind-mate solutions. In terms of materials, "plastic-metal" hybrid and "pure plastic" solutions significantly reduce weight and costs while maintaining performance, becoming important innovation directions. Industry standard OCP proposes unified specifications and performance standards, while Intel leads the formation of a universal quick connector alliance, solving interchangeability issues between different brand products and improving operational convenience and system reliability. Additionally, blind-mate UQDs that enable automatic connection are gradually being adopted by mainstream suppliers due to their support for efficient deployment.
Domestic supply chains possess cost advantages with broad import substitution potential. The current UQD market is dominated by overseas giants like Staubli and Parker, with high industry concentration. Some domestic suppliers have successfully entered supply chains of leading customers like NVIDIA, rapidly rising through cost advantages, shorter delivery cycles, and agile technical services. The analysis expects domestic suppliers to actively collaborate with NVIDIA on development while accelerating new material R&D, presenting broad import substitution opportunities.
Investment recommendations focus on UQD industry chain import substitution targets including Envicool and AVIC Optoelectronics, along with other related industry chain targets such as Sichuan Environment & Engineering and Tracelink.
Risk factors include slower-than-expected technological development, intensified industry competition, and slower-than-expected customer expansion.