Data Centre Comfico expands its portfolio with acquisition of Ivi, marking a significant thermal transition.
In an exciting development, Italian company Cofimco has announced the acquisition of Ilmed Ventilazione Industriale (IVI), a Turin-based company with nearly 40 years of experience in the industry. This strategic move is expected to strengthen Cofimco's position in data center cooling, naval construction, energy generation, and high-intensity industry.
The global data center cooling systems market, currently worth around $16.8 billion, is projected to grow significantly in the coming years. According to various estimates, the market could exceed $42 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 12.4%. This growth is driven by the explosion of AI services, cloud, and high-performance computing (HPC), which have led to a surge in demand for high-performance cooling systems, particularly in the Asia-Pacific region.
One of the key growth drivers in the data center cooling market is the increasing adoption of liquid cooling technology. About 19% of data centers have already adopted liquid cooling, with another 36% planning to do so soon. The liquid cooling segment is projected to expand markedly, from around $3.9 billion in 2024 to more than $22 billion by 2034. Within liquid cooling, immersion cooling—where servers are submerged in non-conductive liquids—is growing as well, expected to reach roughly $11.1 billion by 2030, with a CAGR of approximately 17.9% during 2025-2030.
The union of Cofimco and IVI focuses on the naval sector, seeking energy-efficient and robust solutions for next-generation ships. Cofimco is also setting up a new plant in Houston, Texas, to serve the dynamic North American market for digital infrastructure and renewable energy. The company's industrial expansion extends to Asia and North America, with IVI having a strong presence in China, and the acquisition further bolstering Cofimco's presence in the region.
The growth outlook for liquid cooling is even more dynamic, with a projected CAGR of 33% until 2032. This growth is driven by increasing data workloads, energy efficiency requirements, and the rise of AI computing. Moreover, regulatory pushes for environmentally friendly coolants are also contributing to the adoption of liquid cooling technologies.
In summary, the data center cooling market is poised for robust growth, with liquid cooling technologies—especially immersion cooling—expected to capture an increasing share due to their superior thermal efficiency and sustainability benefits. Cofimco's acquisition of IVI is a strategic move that positions the company well for this growth, expanding its presence in key markets and strengthening its ability to offer innovative solutions.
[1] MarketandMarkets. (2021). Global Data Center Cooling Systems Market by Component, Type, Application, End-User, and Region - Forecast to 2030. [2] Grand View Research. (2021). Global Data Center Cooling Market Size, Share & Trends Analysis Report by Component (Hardware, Services), by Cooling Type (Air Cooling, Liquid Cooling), by Application (IT Services, BFSI, Telecommunication, Retail & E-commerce, Government & Defense, Others), and by Region, and Segment Forecasts, 2021 - 2030. [4] TrendForce. (2021). Liquid Cooling Market to Reach US$11.1 Billion by 2030.
International finance and technology play significant roles in the forecasted growth of the data center cooling market. Cofimco's strategic business move, resulting from the acquisition of Ilmed Ventilazione Industriale (IVI), is expected to leverage these factors as the company expands its presence in key markets and ventures into innovative solutions.
