Global AI Server Liquid Cooling Piping Components Market Growth (Status and Outlook) 2026-2032

October 2026 | 135 pages | ID: GF10D41D0C7DEN
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The global AI Server Liquid Cooling Piping Components market size is predicted to grow from US$ 1535 million in 2025 to US$ 3946 million in 2032; it is expected to grow at a CAGR of 14.5% from 2026 to 2032.

AI Server Liquid Cooling Piping Components refer to fluid transmission and connection components used in liquid cooling systems for artificial intelligence servers, high-performance computing (HPC) servers, and high-density data centers. These components enable efficient coolant circulation between cooling distribution units (CDUs), cold plates, manifolds, pumps, heat exchangers, and other thermal management equipment. The product scope mainly covers liquid cooling hoses, rigid piping, quick connectors, pipe fittings, valves, manifolds, sealing components, and related fluid control parts. These components require high pressure resistance, low leakage performance, corrosion resistance, low ion precipitation, thermal reliability, and long-term durability under continuous liquid cooling operation.

Key Findings

AI server liquid cooling piping components are essential infrastructure parts for high-density AI computing thermal management systems

Rack-level and cold plate liquid cooling architectures represent the primary demand areas for piping components

North America leads the high-performance data center liquid cooling component market with strong AI infrastructure investment

Quick connectors and manifolds are becoming critical components for scalable liquid cooling deployment

Major suppliers compete through reliability, customization capability, and global data center supply chains

Market Trends

The AI Server Liquid Cooling Piping Components market is experiencing rapid technological evolution driven by increasing server power density and the transition from traditional air cooling to advanced liquid cooling solutions. AI accelerator platforms with higher thermal design power requirements are accelerating the adoption of cold plate liquid cooling, rack-level liquid cooling, and customized coolant distribution systems. Future product development is focused on improving connector reliability, reducing leakage risks, enhancing material compatibility with different coolant types, and supporting higher flow rates. Suppliers are increasingly developing integrated piping assemblies combining hoses, manifolds, connectors, and monitoring functions to meet the requirements of hyperscale data centers and AI computing clusters.

Market Dynamics

Drivers

The primary growth drivers include the expansion of artificial intelligence computing infrastructure, increasing deployment of GPU-based servers, rising rack power density, and growing demand for energy-efficient data centers. As conventional air cooling becomes insufficient for next-generation AI servers, liquid cooling systems require higher-performance piping components capable of stable operation under high thermal loads. Government investment in digital infrastructure and hyperscale cloud computing expansion further accelerate adoption.

Restraints

Market development is constrained by high qualification requirements, strict reliability standards, complex integration processes, and limited supplier experience in advanced liquid cooling applications. Component failures such as leakage or contamination can cause significant damage to expensive computing equipment, resulting in demanding certification and testing requirements. The diversity of coolant materials and system architectures also increases product development complexity.

Opportunities

Future opportunities are concentrated in AI data centers, supercomputing facilities, edge AI infrastructure, and next-generation rack-level cooling systems. The increasing adoption of direct-to-chip cooling and higher-density computing platforms creates demand for advanced quick connectors, high-performance hoses, and customized manifolds. Companies with strong precision manufacturing capabilities, sealing technologies, and thermal management expertise are expected to benefit from market expansion.

Challenges

The industry faces challenges including rapid technology changes, uncertainty in liquid cooling architecture standards, supply chain requirements from global data center operators, and increasing competition among component manufacturers. Maintaining long-term reliability while reducing manufacturing costs and achieving compatibility with emerging cooling technologies will remain critical challenges.Industry Chain Analysis

The industry chain of AI Server Liquid Cooling Piping Components consists of upstream materials and component suppliers, midstream component manufacturers, and downstream system integrators and end users. Upstream suppliers provide engineering plastics, stainless steel, copper alloys, sealing materials, precision machining components, and surface treatment technologies. Midstream manufacturers produce liquid cooling hoses, quick connectors, manifolds, valves, and integrated piping assemblies through precision manufacturing and reliability testing. Downstream markets include AI data centers, cloud service providers, telecommunications operators, government computing centers, healthcare computing platforms, and HPC facilities, where liquid cooling systems are deployed to support high-performance computing operations.

Value Chain Analysis

Value creation in AI server liquid cooling piping components is mainly generated through material engineering, precision manufacturing, reliability validation, and system integration capabilities. Manufacturers with advanced sealing technologies, low-leakage connector designs, and customized engineering services can achieve higher added value. Close cooperation with server manufacturers, liquid cooling solution providers, and data center operators is becoming increasingly important for maintaining competitiveness.

Segment Insights

By product type, quick connectors, liquid cooling manifolds, and high-performance hoses represent the core segments of the market because they directly affect coolant circulation efficiency, maintenance convenience, and system reliability. Quick connectors are particularly important for rack-level liquid cooling deployment due to their role in enabling rapid installation and serviceability. By liquid cooling structure, cold plate liquid cooling currently represents the mainstream architecture for AI servers, while rack-level liquid cooling is becoming a fast-growing direction as rack power density increases. Immersion liquid cooling requires specialized piping solutions with stronger coolant compatibility and sealing performance.

Downstream Market Opportunities

The downstream demand for AI server liquid cooling piping components is mainly generated by hyperscale data centers, cloud computing companies, AI infrastructure operators, telecommunications networks, government computing platforms, and research supercomputing centers. AI training clusters and large-scale inference facilities are expected to create significant demand because these applications require continuous operation, high computing density, and reliable thermal management systems. The expansion of enterprise AI adoption will further broaden opportunities beyond traditional data center customers.

Regional Insights

North America represents one of the leading regional markets due to strong AI infrastructure investment, large-scale cloud service providers, and advanced data center development. Europe maintains demand through energy efficiency requirements and sustainable data center initiatives. Asia-Pacific is becoming a major growth region driven by AI server manufacturing capacity, semiconductor ecosystem development, and rapid expansion of digital infrastructure in China, Japan, South Korea, and Taiwan. Regional competition is increasingly focused on localized supply chains, engineering response capabilities, and cooperation with data center ecosystem partners.

Competitive Landscape Analysis

The competitive landscape of AI Server Liquid Cooling Piping Components includes global fluid control specialists, thermal management companies, precision component manufacturers, and regional liquid cooling solution providers. Companies such as Parker Hannifin, Gates, Danfoss, Swagelok, Colder Products Company, Nitto Kohki, St?ubli, and Boyd Corporation have strong capabilities in fluid connection technologies and industrial cooling applications. Chinese and Taiwan-based companies including Envicool, Goaland, FRD, Tongfei, Auras, and related precision component suppliers are strengthening their positions through AI data center liquid cooling deployment. Competition is increasingly centered on leakage prevention, connector reliability, customization capability, manufacturing scale, and integration with complete liquid cooling solutions.

Report Scope

LPI (LP Information)' newest research report, the “AI Server Liquid Cooling Piping Components Industry Forecast” looks at past sales and reviews total world AI Server Liquid Cooling Piping Components sales in 2025, providing a comprehensive analysis by region and market sector of projected AI Server Liquid Cooling Piping Components sales for 2026 through 2032. With AI Server Liquid Cooling Piping Components sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world AI Server Liquid Cooling Piping Components industry.

This Insight Report provides a comprehensive analysis of the global AI Server Liquid Cooling Piping Components landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyses the strategies of leading global companies with a focus on AI Server Liquid Cooling Piping Components portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global AI Server Liquid Cooling Piping Components market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for AI Server Liquid Cooling Piping Components and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global AI Server Liquid Cooling Piping Components.

This report presents a comprehensive overview, market shares, and growth opportunities of AI Server Liquid Cooling Piping Components market by product type, application, key players and key regions and countries.

Market Segmentation

Segmentation by Type:

  • Liquid Cooling Hose
  • Quick Connectors
  • Liquid Cooling Manifolds
  • Others

Segmentation by Liquid Cooling Structures:

  • Cold Plate Liquid Cooling
  • Immersion Liquid Cooling
  • Rack-Level Liquid Cooling

Segmentation by Application:

  • Telecommunications
  • Government
  • Healthcare
  • Other

This report also splits the market by region:

  • Americas
    • United States
    • Canada
    • Mexico
    • Brazil
  • APAC
    • China
    • Japan
    • Korea
    • Southeast Asia
    • India
    • Australia
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Russia
  • Middle East & Africa
    • Egypt
    • South Africa
    • Israel
    • Turkey
    • GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
  • Parker Hannifin
  • Gates
  • Danfoss
  • Auras
  • Boyd Corporation
  • Nitto Kohki
  • St?ubli
  • Vertiv
  • nVent
  • Colder Products Company
  • Swagelok
  • Remindore Technology
  • Envicool Technology Co., Ltd.
  • Guangzhou Goaland Energy Conservation Tech. Co., Ltd
  • Shenzhen FRD Science & Technology Co., Ltd.
  • Jonhon Optronic Technology Co., Ltd.
  • Tongfei Co., Ltd.
  • Yimikang Tech. Group Co., Ltd.
  • Zhongding Group
1 SCOPE OF THE REPORT

1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats

2 EXECUTIVE SUMMARY

2.1 World Market Overview
  2.1.1 Global AI Server Liquid Cooling Piping Components Market Size (2021-2032)
  2.1.2 AI Server Liquid Cooling Piping Components Market Size CAGR by Region (2021 VS 2025 VS 2032)
  2.1.3 World Current & Future Analysis for AI Server Liquid Cooling Piping Components by Country/Region (2021, 2025 & 2032)
2.2 AI Server Liquid Cooling Piping Components Segment by Type
  2.2.1 Liquid Cooling Hose
  2.2.2 Quick Connectors
  2.2.3 Liquid Cooling Manifolds
  2.2.4 Others
  2.2.5 AI Server Liquid Cooling Piping Components Market Size by Type
    2.2.5.1 AI Server Liquid Cooling Piping Components Market Size CAGR by Type (2021 VS 2025 VS 2032)
    2.2.5.2 Global AI Server Liquid Cooling Piping Components Market Size Market Share by Type (2021-2026)
2.3 AI Server Liquid Cooling Piping Components Segment by Liquid Cooling Structures
  2.3.1 Cold Plate Liquid Cooling
  2.3.2 Immersion Liquid Cooling
  2.3.3 Rack-Level Liquid Cooling
  2.3.4 AI Server Liquid Cooling Piping Components Market Size by Liquid Cooling Structures
    2.3.4.1 AI Server Liquid Cooling Piping Components Market Size CAGR by Liquid Cooling Structures (2021 VS 2025 VS 2032)
    2.3.4.2 Global AI Server Liquid Cooling Piping Components Market Size Market Share by Liquid Cooling Structures (2021-2026)
2.4 AI Server Liquid Cooling Piping Components Segment by Application
  2.4.1 Telecommunications
  2.4.2 Government
  2.4.3 Healthcare
  2.4.4 Other
  2.4.5 AI Server Liquid Cooling Piping Components Market Size by Application
    2.4.5.1 AI Server Liquid Cooling Piping Components Market Size CAGR by Application (2021 VS 2025 VS 2032)
    2.4.5.2 Global AI Server Liquid Cooling Piping Components Market Size Market Share by Application (2021-2026)

3 AI SERVER LIQUID COOLING PIPING COMPONENTS MARKET SIZE BY PLAYER

3.1 AI Server Liquid Cooling Piping Components Market Size Market Share by Player
  3.1.1 Global AI Server Liquid Cooling Piping Components Revenue by Player (2021-2026)
  3.1.2 Global AI Server Liquid Cooling Piping Components Revenue Market Share by Player (2021-2026)
3.2 Global AI Server Liquid Cooling Piping Components Key Players Head office and Products Offered
3.3 Market Concentration Rate Analysis
  3.3.1 Competition Landscape Analysis
  3.3.2 Concentration Ratio (CR3, CR5 and CR10) & (2024-2026)
3.4 New Products and Potential Entrants
3.5 Mergers & Acquisitions, Expansion

4 AI SERVER LIQUID COOLING PIPING COMPONENTS BY REGION

4.1 AI Server Liquid Cooling Piping Components Market Size by Region (2021-2026)
4.2 Global AI Server Liquid Cooling Piping Components Annual Revenue by Country/Region (2021-2026)
4.3 Americas AI Server Liquid Cooling Piping Components Market Size Growth (2021-2026)
4.4 APAC AI Server Liquid Cooling Piping Components Market Size Growth (2021-2026)
4.5 Europe AI Server Liquid Cooling Piping Components Market Size Growth (2021-2026)
4.6 Middle East & Africa AI Server Liquid Cooling Piping Components Market Size Growth (2021-2026)

5 AMERICAS

5.1 Americas AI Server Liquid Cooling Piping Components Market Size by Country (2021-2026)
5.2 Americas AI Server Liquid Cooling Piping Components Market Size by Type (2021-2026)
5.3 Americas AI Server Liquid Cooling Piping Components Market Size by Application (2021-2026)
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil

6 APAC

6.1 APAC AI Server Liquid Cooling Piping Components Market Size by Region (2021-2026)
6.2 APAC AI Server Liquid Cooling Piping Components Market Size by Type (2021-2026)
6.3 APAC AI Server Liquid Cooling Piping Components Market Size by Application (2021-2026)
6.4 China
6.5 Japan
6.6 South Korea
6.7 Southeast Asia
6.8 India
6.9 Australia

7 EUROPE

7.1 Europe AI Server Liquid Cooling Piping Components Market Size by Country (2021-2026)
7.2 Europe AI Server Liquid Cooling Piping Components Market Size by Type (2021-2026)
7.3 Europe AI Server Liquid Cooling Piping Components Market Size by Application (2021-2026)
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia

8 MIDDLE EAST & AFRICA

8.1 Middle East & Africa AI Server Liquid Cooling Piping Components by Region (2021-2026)
8.2 Middle East & Africa AI Server Liquid Cooling Piping Components Market Size by Type (2021-2026)
8.3 Middle East & Africa AI Server Liquid Cooling Piping Components Market Size by Application (2021-2026)
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries

9 MARKET DRIVERS, CHALLENGES AND TRENDS

9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends

10 GLOBAL AI SERVER LIQUID COOLING PIPING COMPONENTS MARKET FORECAST

10.1 Global AI Server Liquid Cooling Piping Components Forecast by Region (2027-2032)
  10.1.1 Global AI Server Liquid Cooling Piping Components Forecast by Region (2027-2032)
  10.1.2 Americas AI Server Liquid Cooling Piping Components Forecast
  10.1.3 APAC AI Server Liquid Cooling Piping Components Forecast
  10.1.4 Europe AI Server Liquid Cooling Piping Components Forecast
  10.1.5 Middle East & Africa AI Server Liquid Cooling Piping Components Forecast
10.2 Americas AI Server Liquid Cooling Piping Components Forecast by Country (2027-2032)
  10.2.1 United States Market AI Server Liquid Cooling Piping Components Forecast
  10.2.2 Canada Market AI Server Liquid Cooling Piping Components Forecast
  10.2.3 Mexico Market AI Server Liquid Cooling Piping Components Forecast
  10.2.4 Brazil Market AI Server Liquid Cooling Piping Components Forecast
10.3 APAC AI Server Liquid Cooling Piping Components Forecast by Region (2027-2032)
  10.3.1 China AI Server Liquid Cooling Piping Components Market Forecast
  10.3.2 Japan Market AI Server Liquid Cooling Piping Components Forecast
  10.3.3 Korea Market AI Server Liquid Cooling Piping Components Forecast
  10.3.4 Southeast Asia Market AI Server Liquid Cooling Piping Components Forecast
  10.3.5 India Market AI Server Liquid Cooling Piping Components Forecast
  10.3.6 Australia Market AI Server Liquid Cooling Piping Components Forecast
10.4 Europe AI Server Liquid Cooling Piping Components Forecast by Country (2027-2032)
  10.4.1 Germany Market AI Server Liquid Cooling Piping Components Forecast
  10.4.2 France Market AI Server Liquid Cooling Piping Components Forecast
  10.4.3 UK Market AI Server Liquid Cooling Piping Components Forecast
  10.4.4 Italy Market AI Server Liquid Cooling Piping Components Forecast
  10.4.5 Russia Market AI Server Liquid Cooling Piping Components Forecast
10.5 Middle East & Africa AI Server Liquid Cooling Piping Components Forecast by Region (2027-2032)
  10.5.1 Egypt Market AI Server Liquid Cooling Piping Components Forecast
  10.5.2 South Africa Market AI Server Liquid Cooling Piping Components Forecast
  10.5.3 Israel Market AI Server Liquid Cooling Piping Components Forecast
  10.5.4 Turkey Market AI Server Liquid Cooling Piping Components Forecast
10.6 Global AI Server Liquid Cooling Piping Components Forecast by Type (2027-2032)
10.7 Global AI Server Liquid Cooling Piping Components Forecast by Application (2027-2032)
  10.7.1 GCC Countries Market AI Server Liquid Cooling Piping Components Forecast

11 KEY PLAYERS ANALYSIS

11.1 Parker Hannifin
  11.1.1 Parker Hannifin Company Information
  11.1.2 Parker Hannifin AI Server Liquid Cooling Piping Components Product Offered
  11.1.3 Parker Hannifin AI Server Liquid Cooling Piping Components Revenue, Gross Margin and Market Share (2021-2026)
  11.1.4 Parker Hannifin Main Business Overview
  11.1.5 Parker Hannifin Latest Developments
11.2 Gates
  11.2.1 Gates Company Information
  11.2.2 Gates AI Server Liquid Cooling Piping Components Product Offered
  11.2.3 Gates AI Server Liquid Cooling Piping Components Revenue, Gross Margin and Market Share (2021-2026)
  11.2.4 Gates Main Business Overview
  11.2.5 Gates Latest Developments
11.3 Danfoss
  11.3.1 Danfoss Company Information
  11.3.2 Danfoss AI Server Liquid Cooling Piping Components Product Offered
  11.3.3 Danfoss AI Server Liquid Cooling Piping Components Revenue, Gross Margin and Market Share (2021-2026)
  11.3.4 Danfoss Main Business Overview
  11.3.5 Danfoss Latest Developments
11.4 Auras
  11.4.1 Auras Company Information
  11.4.2 Auras AI Server Liquid Cooling Piping Components Product Offered
  11.4.3 Auras AI Server Liquid Cooling Piping Components Revenue, Gross Margin and Market Share (2021-2026)
  11.4.4 Auras Main Business Overview
  11.4.5 Auras Latest Developments
11.5 Boyd Corporation
  11.5.1 Boyd Corporation Company Information
  11.5.2 Boyd Corporation AI Server Liquid Cooling Piping Components Product Offered
  11.5.3 Boyd Corporation AI Server Liquid Cooling Piping Components Revenue, Gross Margin and Market Share (2021-2026)
  11.5.4 Boyd Corporation Main Business Overview
  11.5.5 Boyd Corporation Latest Developments
11.6 Nitto Kohki
  11.6.1 Nitto Kohki Company Information
  11.6.2 Nitto Kohki AI Server Liquid Cooling Piping Components Product Offered
  11.6.3 Nitto Kohki AI Server Liquid Cooling Piping Components Revenue, Gross Margin and Market Share (2021-2026)
  11.6.4 Nitto Kohki Main Business Overview
  11.6.5 Nitto Kohki Latest Developments
11.7 St?ubli
  11.7.1 St?ubli Company Information
  11.7.2 St?ubli AI Server Liquid Cooling Piping Components Product Offered
  11.7.3 St?ubli AI Server Liquid Cooling Piping Components Revenue, Gross Margin and Market Share (2021-2026)
  11.7.4 St?ubli Main Business Overview
  11.7.5 St?ubli Latest Developments
11.8 Vertiv
  11.8.1 Vertiv Company Information
  11.8.2 Vertiv AI Server Liquid Cooling Piping Components Product Offered
  11.8.3 Vertiv AI Server Liquid Cooling Piping Components Revenue, Gross Margin and Market Share (2021-2026)
  11.8.4 Vertiv Main Business Overview
  11.8.5 Vertiv Latest Developments
11.9 nVent
  11.9.1 nVent Company Information
  11.9.2 nVent AI Server Liquid Cooling Piping Components Product Offered
  11.9.3 nVent AI Server Liquid Cooling Piping Components Revenue, Gross Margin and Market Share (2021-2026)
  11.9.4 nVent Main Business Overview
  11.9.5 nVent Latest Developments
11.10 Colder Products Company
  11.10.1 Colder Products Company Company Information
  11.10.2 Colder Products Company AI Server Liquid Cooling Piping Components Product Offered
  11.10.3 Colder Products Company AI Server Liquid Cooling Piping Components Revenue, Gross Margin and Market Share (2021-2026)
  11.10.4 Colder Products Company Main Business Overview
  11.10.5 Colder Products Company Latest Developments
11.11 Swagelok
  11.11.1 Swagelok Company Information
  11.11.2 Swagelok AI Server Liquid Cooling Piping Components Product Offered
  11.11.3 Swagelok AI Server Liquid Cooling Piping Components Revenue, Gross Margin and Market Share (2021-2026)
  11.11.4 Swagelok Main Business Overview
  11.11.5 Swagelok Latest Developments
11.12 Remindore Technology
  11.12.1 Remindore Technology Company Information
  11.12.2 Remindore Technology AI Server Liquid Cooling Piping Components Product Offered
  11.12.3 Remindore Technology AI Server Liquid Cooling Piping Components Revenue, Gross Margin and Market Share (2021-2026)
  11.12.4 Remindore Technology Main Business Overview
  11.12.5 Remindore Technology Latest Developments
11.13 Envicool Technology Co., Ltd.
  11.13.1 Envicool Technology Co., Ltd. Company Information
  11.13.2 Envicool Technology Co., Ltd. AI Server Liquid Cooling Piping Components Product Offered
  11.13.3 Envicool Technology Co., Ltd. AI Server Liquid Cooling Piping Components Revenue, Gross Margin and Market Share (2021-2026)
  11.13.4 Envicool Technology Co., Ltd. Main Business Overview
  11.13.5 Envicool Technology Co., Ltd. Latest Developments
11.14 Guangzhou Goaland Energy Conservation Tech. Co., Ltd
  11.14.1 Guangzhou Goaland Energy Conservation Tech. Co., Ltd Company Information
  11.14.2 Guangzhou Goaland Energy Conservation Tech. Co., Ltd AI Server Liquid Cooling Piping Components Product Offered
  11.14.3 Guangzhou Goaland Energy Conservation Tech. Co., Ltd AI Server Liquid Cooling Piping Components Revenue, Gross Margin and Market Share (2021-2026)
  11.14.4 Guangzhou Goaland Energy Conservation Tech. Co., Ltd Main Business Overview
  11.14.5 Guangzhou Goaland Energy Conservation Tech. Co., Ltd Latest Developments
11.15 Shenzhen FRD Science & Technology Co., Ltd.
  11.15.1 Shenzhen FRD Science & Technology Co., Ltd. Company Information
  11.15.2 Shenzhen FRD Science & Technology Co., Ltd. AI Server Liquid Cooling Piping Components Product Offered
  11.15.3 Shenzhen FRD Science & Technology Co., Ltd. AI Server Liquid Cooling Piping Components Revenue, Gross Margin and Market Share (2021-2026)
  11.15.4 Shenzhen FRD Science & Technology Co., Ltd. Main Business Overview
  11.15.5 Shenzhen FRD Science & Technology Co., Ltd. Latest Developments
11.16 Jonhon Optronic Technology Co., Ltd.
  11.16.1 Jonhon Optronic Technology Co., Ltd. Company Information
  11.16.2 Jonhon Optronic Technology Co., Ltd. AI Server Liquid Cooling Piping Components Product Offered
  11.16.3 Jonhon Optronic Technology Co., Ltd. AI Server Liquid Cooling Piping Components Revenue, Gross Margin and Market Share (2021-2026)
  11.16.4 Jonhon Optronic Technology Co., Ltd. Main Business Overview
  11.16.5 Jonhon Optronic Technology Co., Ltd. Latest Developments
11.17 Tongfei Co., Ltd.
  11.17.1 Tongfei Co., Ltd. Company Information
  11.17.2 Tongfei Co., Ltd. AI Server Liquid Cooling Piping Components Product Offered
  11.17.3 Tongfei Co., Ltd. AI Server Liquid Cooling Piping Components Revenue, Gross Margin and Market Share (2021-2026)
  11.17.4 Tongfei Co., Ltd. Main Business Overview
  11.17.5 Tongfei Co., Ltd. Latest Developments
11.18 Yimikang Tech. Group Co., Ltd.
  11.18.1 Yimikang Tech. Group Co., Ltd. Company Information
  11.18.2 Yimikang Tech. Group Co., Ltd. AI Server Liquid Cooling Piping Components Product Offered
  11.18.3 Yimikang Tech. Group Co., Ltd. AI Server Liquid Cooling Piping Components Revenue, Gross Margin and Market Share (2021-2026)
  11.18.4 Yimikang Tech. Group Co., Ltd. Main Business Overview
  11.18.5 Yimikang Tech. Group Co., Ltd. Latest Developments
11.19 Zhongding Group
  11.19.1 Zhongding Group Company Information
  11.19.2 Zhongding Group AI Server Liquid Cooling Piping Components Product Offered
  11.19.3 Zhongding Group AI Server Liquid Cooling Piping Components Revenue, Gross Margin and Market Share (2021-2026)
  11.19.4 Zhongding Group Main Business Overview
  11.19.5 Zhongding Group Latest Developments

12 RESEARCH FINDINGS AND CONCLUSION
LIST OF TABLES

Table 1. AI Server Liquid Cooling Piping Components Market Size CAGR by Region (2021 VS 2025 VS 2032) & ($ millions)
Table 2. AI Server Liquid Cooling Piping Components Annual Sales CAGR by Country/Region (2021, 2025 & 2032) & ($ millions)
Table 3. Major Players of Liquid Cooling Hose
Table 4. Major Players of Quick Connectors
Table 5. Major Players of Liquid Cooling Manifolds
Table 6. Major Players of Others
Table 7. AI Server Liquid Cooling Piping Components Market Size CAGR by Type (2021 VS 2025 VS 2032) & ($ millions)
Table 8. Global AI Server Liquid Cooling Piping Components Market Size by Type (2021-2026) & ($ millions)
Table 9. Global AI Server Liquid Cooling Piping Components Market Size Market Share by Type (2021-2026)
Table 10. Major Players of Cold Plate Liquid Cooling
Table 11. Major Players of Immersion Liquid Cooling
Table 12. Major Players of Rack-Level Liquid Cooling
Table 13. AI Server Liquid Cooling Piping Components Market Size CAGR by Liquid Cooling Structures (2021 VS 2025 VS 2032) & ($ millions)
Table 14. Global AI Server Liquid Cooling Piping Components Market Size by Liquid Cooling Structures (2021-2026) & ($ millions)
Table 15. Global AI Server Liquid Cooling Piping Components Market Size Market Share by Liquid Cooling Structures (2021-2026)
Table 16. AI Server Liquid Cooling Piping Components Market Size CAGR by Application (2021 VS 2025 VS 2032) & ($ millions)
Table 17. Global AI Server Liquid Cooling Piping Components Market Size by Application (2021-2026) & ($ millions)
Table 18. Global AI Server Liquid Cooling Piping Components Market Size Market Share by Application (2021-2026)
Table 19. Global AI Server Liquid Cooling Piping Components Revenue by Player (2021-2026) & ($ millions)
Table 20. Global AI Server Liquid Cooling Piping Components Revenue Market Share by Player (2021-2026)
Table 21. AI Server Liquid Cooling Piping Components Key Players Head office and Products Offered
Table 22. AI Server Liquid Cooling Piping Components Concentration Ratio (CR3, CR5 and CR10) & (2024-2026)
Table 23. New Products and Potential Entrants
Table 24. Mergers & Acquisitions, Expansion
Table 25. Global AI Server Liquid Cooling Piping Components Market Size by Region (2021-2026) & ($ millions)
Table 26. Global AI Server Liquid Cooling Piping Components Market Size Market Share by Region (2021-2026)
Table 27. Global AI Server Liquid Cooling Piping Components Revenue by Country/Region (2021-2026) & ($ millions)
Table 28. Global AI Server Liquid Cooling Piping Components Revenue Market Share by Country/Region (2021-2026)
Table 29. Americas AI Server Liquid Cooling Piping Components Market Size by Country (2021-2026) & ($ millions)
Table 30. Americas AI Server Liquid Cooling Piping Components Market Size Market Share by Country (2021-2026)
Table 31. Americas AI Server Liquid Cooling Piping Components Market Size by Type (2021-2026) & ($ millions)
Table 32. Americas AI Server Liquid Cooling Piping Components Market Size Market Share by Type (2021-2026)
Table 33. Americas AI Server Liquid Cooling Piping Components Market Size by Application (2021-2026) & ($ millions)
Table 34. Americas AI Server Liquid Cooling Piping Components Market Size Market Share by Application (2021-2026)
Table 35. APAC AI Server Liquid Cooling Piping Components Market Size by Region (2021-2026) & ($ millions)
Table 36. APAC AI Server Liquid Cooling Piping Components Market Size Market Share by Region (2021-2026)
Table 37. APAC AI Server Liquid Cooling Piping Components Market Size by Type (2021-2026) & ($ millions)
Table 38. APAC AI Server Liquid Cooling Piping Components Market Size by Application (2021-2026) & ($ millions)
Table 39. Europe AI Server Liquid Cooling Piping Components Market Size by Country (2021-2026) & ($ millions)
Table 40. Europe AI Server Liquid Cooling Piping Components Market Size Market Share by Country (2021-2026)
Table 41. Europe AI Server Liquid Cooling Piping Components Market Size by Type (2021-2026) & ($ millions)
Table 42. Europe AI Server Liquid Cooling Piping Components Market Size by Application (2021-2026) & ($ millions)
Table 43. Middle East & Africa AI Server Liquid Cooling Piping Components Market Size by Region (2021-2026) & ($ millions)
Table 44. Middle East & Africa AI Server Liquid Cooling Piping Components Market Size by Type (2021-2026) & ($ millions)
Table 45. Middle East & Africa AI Server Liquid Cooling Piping Components Market Size by Application (2021-2026) & ($ millions)
Table 46. Key Market Drivers & Growth Opportunities of AI Server Liquid Cooling Piping Components
Table 47. Key Market Challenges & Risks of AI Server Liquid Cooling Piping Components
Table 48. Key Industry Trends of AI Server Liquid Cooling Piping Components
Table 49. Global AI Server Liquid Cooling Piping Components Market Size Forecast by Region (2027-2032) & ($ millions)
Table 50. Global AI Server Liquid Cooling Piping Components Market Size Market Share Forecast by Region (2027-2032)
Table 51. Global AI Server Liquid Cooling Piping Components Market Size Forecast by Type (2027-2032) & ($ millions)
Table 52. Global AI Server Liquid Cooling Piping Components Market Size Forecast by Application (2027-2032) & ($ millions)
Table 53. Parker Hannifin Details, Company Type, AI Server Liquid Cooling Piping Components Area Served and Its Competitors
Table 54. Parker Hannifin AI Server Liquid Cooling Piping Components Product Offered
Table 55. Parker Hannifin AI Server Liquid Cooling Piping Components Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 56. Parker Hannifin Main Business
Table 57. Parker Hannifin Latest Developments
Table 58. Gates Details, Company Type, AI Server Liquid Cooling Piping Components Area Served and Its Competitors
Table 59. Gates AI Server Liquid Cooling Piping Components Product Offered
Table 60. Gates AI Server Liquid Cooling Piping Components Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 61. Gates Main Business
Table 62. Gates Latest Developments
Table 63. Danfoss Details, Company Type, AI Server Liquid Cooling Piping Components Area Served and Its Competitors
Table 64. Danfoss AI Server Liquid Cooling Piping Components Product Offered
Table 65. Danfoss AI Server Liquid Cooling Piping Components Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 66. Danfoss Main Business
Table 67. Danfoss Latest Developments
Table 68. Auras Details, Company Type, AI Server Liquid Cooling Piping Components Area Served and Its Competitors
Table 69. Auras AI Server Liquid Cooling Piping Components Product Offered
Table 70. Auras AI Server Liquid Cooling Piping Components Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 71. Auras Main Business
Table 72. Auras Latest Developments
Table 73. Boyd Corporation Details, Company Type, AI Server Liquid Cooling Piping Components Area Served and Its Competitors
Table 74. Boyd Corporation AI Server Liquid Cooling Piping Components Product Offered
Table 75. Boyd Corporation AI Server Liquid Cooling Piping Components Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 76. Boyd Corporation Main Business
Table 77. Boyd Corporation Latest Developments
Table 78. Nitto Kohki Details, Company Type, AI Server Liquid Cooling Piping Components Area Served and Its Competitors
Table 79. Nitto Kohki AI Server Liquid Cooling Piping Components Product Offered
Table 80. Nitto Kohki AI Server Liquid Cooling Piping Components Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 81. Nitto Kohki Main Business
Table 82. Nitto Kohki Latest Developments
Table 83. St?ubli Details, Company Type, AI Server Liquid Cooling Piping Components Area Served and Its Competitors
Table 84. St?ubli AI Server Liquid Cooling Piping Components Product Offered
Table 85. St?ubli AI Server Liquid Cooling Piping Components Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 86. St?ubli Main Business
Table 87. St?ubli Latest Developments
Table 88. Vertiv Details, Company Type, AI Server Liquid Cooling Piping Components Area Served and Its Competitors
Table 89. Vertiv AI Server Liquid Cooling Piping Components Product Offered
Table 90. Vertiv AI Server Liquid Cooling Piping Components Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 91. Vertiv Main Business
Table 92. Vertiv Latest Developments
Table 93. nVent Details, Company Type, AI Server Liquid Cooling Piping Components Area Served and Its Competitors
Table 94. nVent AI Server Liquid Cooling Piping Components Product Offered
Table 95. nVent AI Server Liquid Cooling Piping Components Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 96. nVent Main Business
Table 97. nVent Latest Developments
Table 98. Colder Products Company Details, Company Type, AI Server Liquid Cooling Piping Components Area Served and Its Competitors
Table 99. Colder Products Company AI Server Liquid Cooling Piping Components Product Offered
Table 100. Colder Products Company AI Server Liquid Cooling Piping Components Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 101. Colder Products Company Main Business
Table 102. Colder Products Company Latest Developments
Table 103. Swagelok Details, Company Type, AI Server Liquid Cooling Piping Components Area Served and Its Competitors
Table 104. Swagelok AI Server Liquid Cooling Piping Components Product Offered
Table 105. Swagelok AI Server Liquid Cooling Piping Components Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 106. Swagelok Main Business
Table 107. Swagelok Latest Developments
Table 108. Remindore Technology Details, Company Type, AI Server Liquid Cooling Piping Components Area Served and Its Competitors
Table 109. Remindore Technology AI Server Liquid Cooling Piping Components Product Offered
Table 110. Remindore Technology AI Server Liquid Cooling Piping Components Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 111. Remindore Technology Main Business
Table 112. Remindore Technology Latest Developments
Table 113. Envicool Technology Co., Ltd. Details, Company Type, AI Server Liquid Cooling Piping Components Area Served and Its Competitors
Table 114. Envicool Technology Co., Ltd. AI Server Liquid Cooling Piping Components Product Offered
Table 115. Envicool Technology Co., Ltd. AI Server Liquid Cooling Piping Components Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 116. Envicool Technology Co., Ltd. Main Business
Table 117. Envicool Technology Co., Ltd. Latest Developments
Table 118. Guangzhou Goaland Energy Conservation Tech. Co., Ltd Details, Company Type, AI Server Liquid Cooling Piping Components Area Served and Its Competitors
Table 119. Guangzhou Goaland Energy Conservation Tech. Co., Ltd AI Server Liquid Cooling Piping Components Product Offered
Table 120. Guangzhou Goaland Energy Conservation Tech. Co., Ltd AI Server Liquid Cooling Piping Components Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 121. Guangzhou Goaland Energy Conservation Tech. Co., Ltd Main Business
Table 122. Guangzhou Goaland Energy Conservation Tech. Co., Ltd Latest Developments
Table 123. Shenzhen FRD Science & Technology Co., Ltd. Details, Company Type, AI Server Liquid Cooling Piping Components Area Served and Its Competitors
Table 124. Shenzhen FRD Science & Technology Co., Ltd. AI Server Liquid Cooling Piping Components Product Offered
Table 125. Shenzhen FRD Science & Technology Co., Ltd. AI Server Liquid Cooling Piping Components Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 126. Shenzhen FRD Science & Technology Co., Ltd. Main Business
Table 127. Shenzhen FRD Science & Technology Co., Ltd. Latest Developments
Table 128. Jonhon Optronic Technology Co., Ltd. Details, Company Type, AI Server Liquid Cooling Piping Components Area Served and Its Competitors
Table 129. Jonhon Optronic Technology Co., Ltd. AI Server Liquid Cooling Piping Components Product Offered
Table 130. Jonhon Optronic Technology Co., Ltd. AI Server Liquid Cooling Piping Components Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 131. Jonhon Optronic Technology Co., Ltd. Main Business
Table 132. Jonhon Optronic Technology Co., Ltd. Latest Developments
Table 133. Tongfei Co., Ltd. Details, Company Type, AI Server Liquid Cooling Piping Components Area Served and Its Competitors
Table 134. Tongfei Co., Ltd. AI Server Liquid Cooling Piping Components Product Offered
Table 135. Tongfei Co., Ltd. AI Server Liquid Cooling Piping Components Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 136. Tongfei Co., Ltd. Main Business
Table 137. Tongfei Co., Ltd. Latest Developments
Table 138. Yimikang Tech. Group Co., Ltd. Details, Company Type, AI Server Liquid Cooling Piping Components Area Served and Its Competitors
Table 139. Yimikang Tech. Group Co., Ltd. AI Server Liquid Cooling Piping Components Product Offered
Table 140. Yimikang Tech. Group Co., Ltd. AI Server Liquid Cooling Piping Components Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 141. Yimikang Tech. Group Co., Ltd. Main Business
Table 142. Yimikang Tech. Group Co., Ltd. Latest Developments
Table 143. Zhongding Group Details, Company Type, AI Server Liquid Cooling Piping Components Area Served and Its Competitors
Table 144. Zhongding Group AI Server Liquid Cooling Piping Components Product Offered
Table 145. Zhongding Group AI Server Liquid Cooling Piping Components Revenue ($ million), Gross Margin and Market Share (2021-2026)
Table 146. Zhongding Group Main Business
Table 147. Zhongding Group Latest Developments

LIST OF FIGURES

Figure 1. AI Server Liquid Cooling Piping Components Report Years Considered
Figure 2. Research Objectives
Figure 3. Research Methodology
Figure 4. Research Process and Data Source
Figure 5. Global AI Server Liquid Cooling Piping Components Market Size Growth Rate (2021-2032) ($ millions)
Figure 6. AI Server Liquid Cooling Piping Components Sales by Geographic Region (2021, 2025 & 2032) & ($ millions)
Figure 7. AI Server Liquid Cooling Piping Components Sales Market Share by Country/Region (2025)
Figure 8. AI Server Liquid Cooling Piping Components Sales Market Share by Country/Region (2021, 2025 & 2032)
Figure 9. Global AI Server Liquid Cooling Piping Components Market Size Market Share by Type in 2025
Figure 10. Global AI Server Liquid Cooling Piping Components Market Size Market Share by Liquid Cooling Structures in 2025
Figure 11. AI Server Liquid Cooling Piping Components in Telecommunications
Figure 12. Global AI Server Liquid Cooling Piping Components Market: Telecommunications (2021-2026) & ($ millions)
Figure 13. AI Server Liquid Cooling Piping Components in Government
Figure 14. Global AI Server Liquid Cooling Piping Components Market: Government (2021-2026) & ($ millions)
Figure 15. AI Server Liquid Cooling Piping Components in Healthcare
Figure 16. Global AI Server Liquid Cooling Piping Components Market: Healthcare (2021-2026) & ($ millions)
Figure 17. AI Server Liquid Cooling Piping Components in Other
Figure 18. Global AI Server Liquid Cooling Piping Components Market: Other (2021-2026) & ($ millions)
Figure 19. Global AI Server Liquid Cooling Piping Components Market Size Market Share by Application in 2025
Figure 20. Global AI Server Liquid Cooling Piping Components Revenue Market Share by Player in 2025
Figure 21. Global AI Server Liquid Cooling Piping Components Market Size Market Share by Region (2021-2026)
Figure 22. Americas AI Server Liquid Cooling Piping Components Market Size 2021-2026 ($ millions)
Figure 23. APAC AI Server Liquid Cooling Piping Components Market Size 2021-2026 ($ millions)
Figure 24. Europe AI Server Liquid Cooling Piping Components Market Size 2021-2026 ($ millions)
Figure 25. Middle East & Africa AI Server Liquid Cooling Piping Components Market Size 2021-2026 ($ millions)
Figure 26. Americas AI Server Liquid Cooling Piping Components Value Market Share by Country in 2025
Figure 27. United States AI Server Liquid Cooling Piping Components Market Size Growth 2021-2026 ($ millions)
Figure 28. Canada AI Server Liquid Cooling Piping Components Market Size Growth 2021-2026 ($ millions)
Figure 29. Mexico AI Server Liquid Cooling Piping Components Market Size Growth 2021-2026 ($ millions)
Figure 30. Brazil AI Server Liquid Cooling Piping Components Market Size Growth 2021-2026 ($ millions)
Figure 31. APAC AI Server Liquid Cooling Piping Components Market Size Market Share by Region in 2025
Figure 32. APAC AI Server Liquid Cooling Piping Components Market Size Market Share by Type (2021-2026)
Figure 33. APAC AI Server Liquid Cooling Piping Components Market Size Market Share by Application (2021-2026)
Figure 34. China AI Server Liquid Cooling Piping Components Market Size Growth 2021-2026 ($ millions)
Figure 35. Japan AI Server Liquid Cooling Piping Components Market Size Growth 2021-2026 ($ millions)
Figure 36. South Korea AI Server Liquid Cooling Piping Components Market Size Growth 2021-2026 ($ millions)
Figure 37. Southeast Asia AI Server Liquid Cooling Piping Components Market Size Growth 2021-2026 ($ millions)
Figure 38. India AI Server Liquid Cooling Piping Components Market Size Growth 2021-2026 ($ millions)
Figure 39. Australia AI Server Liquid Cooling Piping Components Market Size Growth 2021-2026 ($ millions)
Figure 40. Europe AI Server Liquid Cooling Piping Components Market Size Market Share by Country in 2025
Figure 41. Europe AI Server Liquid Cooling Piping Components Market Size Market Share by Type (2021-2026)
Figure 42. Europe AI Server Liquid Cooling Piping Components Market Size Market Share by Application (2021-2026)
Figure 43. Germany AI Server Liquid Cooling Piping Components Market Size Growth 2021-2026 ($ millions)
Figure 44. France AI Server Liquid Cooling Piping Components Market Size Growth 2021-2026 ($ millions)
Figure 45. UK AI Server Liquid Cooling Piping Components Market Size Growth 2021-2026 ($ millions)
Figure 46. Italy AI Server Liquid Cooling Piping Components Market Size Growth 2021-2026 ($ millions)
Figure 47. Russia AI Server Liquid Cooling Piping Components Market Size Growth 2021-2026 ($ millions)
Figure 48. Middle East & Africa AI Server Liquid Cooling Piping Components Market Size Market Share by Region (2021-2026)
Figure 49. Middle East & Africa AI Server Liquid Cooling Piping Components Market Size Market Share by Type (2021-2026)
Figure 50. Middle East & Africa AI Server Liquid Cooling Piping Components Market Size Market Share by Application (2021-2026)
Figure 51. Egypt AI Server Liquid Cooling Piping Components Market Size Growth 2021-2026 ($ millions)
Figure 52. South Africa AI Server Liquid Cooling Piping Components Market Size Growth 2021-2026 ($ millions)
Figure 53. Israel AI Server Liquid Cooling Piping Components Market Size Growth 2021-2026 ($ millions)
Figure 54. Turkey AI Server Liquid Cooling Piping Components Market Size Growth 2021-2026 ($ millions)
Figure 55. GCC Countries AI Server Liquid Cooling Piping Components Market Size Growth 2021-2026 ($ millions)
Figure 56. Americas AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 57. APAC AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 58. Europe AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 59. Middle East & Africa AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 60. United States AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 61. Canada AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 62. Mexico AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 63. Brazil AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 64. China AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 65. Japan AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 66. Korea AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 67. Southeast Asia AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 68. India AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 69. Australia AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 70. Germany AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 71. France AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 72. UK AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 73. Italy AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 74. Russia AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 75. Egypt AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 76. South Africa AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 77. Israel AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 78. Turkey AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)
Figure 79. Global AI Server Liquid Cooling Piping Components Market Size Market Share Forecast by Type (2027-2032)
Figure 80. Global AI Server Liquid Cooling Piping Components Market Size Market Share Forecast by Application (2027-2032)
Figure 81. GCC Countries AI Server Liquid Cooling Piping Components Market Size 2027-2032 ($ millions)