In 2024, the cooling water market showed a steady to slightly rising price trend due to the rapid growth of data centres and increasing demand for artificial intelligence and high-performance computing. Many companies expanded their digital infrastructure to support AI services, which increased the need for water-based cooling systems to manage heat from servers and IT equipment. Water became an important resource in data centre operations, as large facilities used significant amounts of water daily to keep systems running safely and efficiently.
Further, growing concerns about water scarcity and climate change pushed companies to adopt more sustainable cooling solutions such as advanced water cooling technologies and circular water management systems. Firms focused on reducing water and energy use while maintaining performance, which increased investment in efficient cooling infrastructure.