Liquid Cold Plate Sales

Liquid Cold Plate Sales Market Outlook

The global Liquid Cold Plate market is anticipated to reach a valuation of USD 3.5 billion by 2035, growing at a remarkable CAGR of 8.2% during the forecast period from 2025 to 2035. This growth is driven by the increasing demand for efficient thermal management solutions, particularly in high-performance applications such as electric vehicles and advanced computing systems. Rapid advancements in technology and the rising need for cooling systems in various industries, including aerospace, medical devices, and defense, are further propelling the market. Additionally, the transition towards electric vehicles and the growing focus on reducing energy consumption in industrial processes significantly contribute to the expansion of the Liquid Cold Plate market. The integration of innovative materials and manufacturing techniques also plays a crucial role in enhancing the performance and efficiency of liquid cold plates.

Growth Factor of the Market

The Liquid Cold Plate market is experiencing substantial growth due to several interconnected factors. One of the primary growth drivers is the escalating demand for efficient thermal management systems across a variety of applications. Industries such as automotive, aerospace, and high-performance computing are increasingly leaning towards advanced thermal solutions to manage heat dissipation effectively and enhance overall system performance. Moreover, the rise of electric vehicles (EVs) has stimulated the need for robust battery cooling solutions, which liquid cold plates are adept at providing. This growth is further fueled by advancements in manufacturing techniques that allow for more effective designs and materials, leading to increased efficiency and cost-effectiveness. Environmental regulations promoting energy efficiency and sustainability also encourage the adoption of liquid cooling solutions, enhancing the market's growth potential. Additionally, as technologies evolve and the complexity of electronic components increases, the demand for sophisticated cooling mechanisms like liquid cold plates is expected to surge, shaping a promising future for the market.

Key Highlights of the Market

• The Liquid Cold Plate market is projected to grow at a CAGR of 8.2% from 2025 to 2035.
• Electric vehicle battery cooling is emerging as a significant application area for liquid cold plates.
• Technological advancements are enhancing the performance and efficiency of liquid cold plates.
• The aerospace and defense sectors are increasingly adopting liquid cooling solutions for high-performance systems.
• North America holds a substantial market share, driven by technological innovation and demand from the EV sector.

By Product Type

Single Sided Liquid Cold Plate:

Single sided liquid cold plates are designed to provide cooling on one side of the plate only. This type is particularly popular in applications where space is limited and where efficient heat transfer from heat-producing components is essential. The single-sided design allows for a compact configuration, making them suitable for use in various electronic equipment and systems, particularly in high-performance computing. Their ability to conduct heat away from critical components effectively enables improved reliability and performance, making them a preferred choice in scenarios where size constraints and efficient cooling are paramount.

Double Sided Liquid Cold Plate:

Double sided liquid cold plates feature cooling channels on both sides of the plate, allowing for enhanced heat dissipation capabilities. This design is particularly beneficial in applications requiring superior thermal management, such as high-performance computing or electric vehicle battery systems where heat generation is substantial. The increased surface area for heat exchange results in lower operating temperatures, thus prolonging the lifespan of electronic components. While typically bulkier than their single-sided counterparts, double sided liquid cold plates are invaluable in applications where maximum cooling efficiency is required, making them a key player in the liquid cooling market.

Formed Tube Liquid Cold Plate:

Formed tube liquid cold plates consist of tubes integrated into the plate structure, which allow for liquid coolant to flow through them, enhancing cooling efficiency. This type of liquid cold plate is highly versatile and can be tailored for specific applications, including high-performance computing and industrial machinery. The formed tube configuration enables complex cooling channel designs that optimize fluid dynamics for effective heat removal. As a result, formed tube liquid cold plates are gaining traction in industries that require customized thermal management solutions, providing an excellent balance between performance and design flexibility.

Vacuum Brazed Liquid Cold Plate:

Vacuum brazed liquid cold plates are manufactured using a specialized process that ensures strong bonding between the plate materials and the cooling channels, resulting in enhanced thermal performance. This type is particularly advantageous in applications where high thermal conductivity and robust mechanical properties are critical, such as in aerospace and defense sectors. The vacuum brazing technique minimizes porosity in the structure, leading to improved reliability under extreme conditions. As a result, vacuum brazed liquid cold plates are preferred for high-stakes applications where performance cannot be compromised, ensuring effective heat management in critical systems.

Machined Channel Liquid Cold Plate:

Machined channel liquid cold plates are produced using precision machining techniques that create dedicated channels for liquid coolant flow. This type allows for high customization in terms of channel geometry and layout, making it suitable for various applications, including medical devices and laser equipment. The flexibility in design enables optimization of the cooling paths to match specific thermal requirements of different systems. Furthermore, the machining process results in smooth channel surfaces that enhance fluid flow, thus improving the overall heat transfer efficiency. As industries increasingly seek tailor-made thermal management solutions, machined channel liquid cold plates are becoming increasingly relevant in today's market.

By Application

Electric Vehicle Battery Cooling:

Electric vehicle battery cooling is a critical application area for liquid cold plates due to the significant heat generated during charging and discharging cycles. Efficient thermal management is essential to maintain optimal battery performance, safety, and longevity. Liquid cold plates are effective in dissipating heat away from battery cells, ensuring that temperatures remain within safe operational limits. As the demand for electric vehicles continues to rise, driven by environmental concerns and advances in battery technology, the importance of liquid cooling systems in enhancing battery efficiency and safety is set to increase, making it a pivotal application for the liquid cold plate market.

High-Performance Computing:

High-performance computing (HPC) environments generate substantial heat due to the concentration of powerful processors and components. Liquid cold plates are increasingly employed in HPC systems to efficiently manage this heat and maintain optimal operating temperatures. These solutions enable higher performance levels by preventing thermal throttling and allowing for aggressive performance tuning. Furthermore, as data centers evolve to accommodate growing workloads and complex computing tasks, the adoption of liquid cold plates in HPC applications is expected to surge, driven by the need for more efficient thermal management solutions that can handle increasing demands.

Laser Equipment:

Laser equipment requires precise temperature control to ensure optimal performance and reliability. Liquid cold plates provide an effective solution for managing the heat generated by these systems during operation. By dissipating heat efficiently, liquid cold plates help maintain the integrity and performance of laser components, enhancing their efficiency and lifespan. The growing applications of laser technology across various sectors, including manufacturing, telecommunications, and medical devices, are driving the demand for reliable cooling solutions like liquid cold plates, making this application category increasingly significant in the market.

Medical Devices:

In the medical device industry, effective thermal management is essential to ensure the safety and performance of sensitive equipment. Liquid cold plates are utilized in various medical applications, from diagnostic imaging systems to laser surgical devices, to maintain optimal temperature ranges. The ability of liquid cold plates to provide consistent cooling helps to prevent overheating and allows for improved operational efficiency. As the healthcare sector continues to invest in advanced technologies and equipment, the demand for reliable liquid cooling solutions in medical devices is expected to grow, further supporting the liquid cold plate market.

Aerospace & Defense:

The aerospace and defense sectors are characterized by a need for high-performance thermal management systems capable of operating under extreme conditions. Liquid cold plates are increasingly being integrated into critical systems, such as avionics and propulsion components, to ensure efficient heat dissipation. The rigorous standards for reliability and performance in these industries drive the adoption of advanced cooling solutions like liquid cold plates, which offer the capability to manage heat effectively in challenging environments. As aerospace and defense technologies evolve, the demand for sophisticated thermal management solutions is projected to rise, reflecting the importance of liquid cold plates in these applications.

By Distribution Channel

Direct Sales:

Direct sales channels are a vital component of the liquid cold plate market, as they allow manufacturers to establish direct relationships with customers. This interaction facilitates better communication regarding specific cooling requirements, enabling tailored solutions to meet unique needs. Companies leveraging direct sales strategies can provide detailed product information and after-sales service, enhancing customer satisfaction and loyalty. Furthermore, direct sales enable manufacturers to capture direct feedback from users, aiding in product development and innovation. As the demand for customized thermal management solutions rises, direct sales channels are expected to play an increasingly critical role in the distribution of liquid cold plates.

Indirect Sales:

Indirect sales channels encompass a variety of distributors, resellers, and agents that facilitate the delivery of liquid cold plates to end-users. This distribution method allows manufacturers to reach a broader customer base, particularly in regions where establishing direct sales may be challenging. Indirect sales channels often leverage established networks and relationships to promote liquid cold plate products, ensuring wider market penetration. Additionally, these channels can provide insights into market trends and customer preferences, which can be invaluable for manufacturers looking to refine their product offerings. As the liquid cold plate market continues to expand, indirect sales channels are expected to remain a significant contributor to overall sales volumes.

By Material Type

Copper:

Copper is one of the most popular materials used in the manufacturing of liquid cold plates due to its exceptional thermal conductivity. The high thermal performance of copper makes it ideal for applications that require rapid heat dissipation, such as high-performance computing and electric vehicle battery cooling. Additionally, copper's corrosion resistance and mechanical strength enhance the durability of liquid cold plates, ensuring they can withstand harsh operating conditions. As the demand for efficient thermal management solutions in various industries grows, the preference for copper-based liquid cold plates is likely to rise, solidifying its position as a leading material choice.

Aluminum:

Aluminum is another widely used material in liquid cold plate manufacturing, favored for its lightweight nature and good thermal conductivity. The advantage of aluminum lies in its cost-effectiveness, making it a popular choice for applications where budget constraints are a concern. Aluminum cold plates can be easily fabricated into complex shapes and designs, providing advantages in customization for various applications. Furthermore, the corrosion resistance and ease of manufacturing processes associated with aluminum enhance its appeal in diverse applications, such as automotive and electronics, thereby ensuring its prominence in the liquid cold plate market.

Stainless Steel:

Stainless steel is utilized in liquid cold plates primarily for applications that require high corrosion resistance and durability. While stainless steel does not conduct heat as efficiently as copper or aluminum, its robustness and ability to withstand extreme conditions make it suitable for demanding environments such as aerospace and defense. Stainless steel cold plates offer a longer lifespan, reducing replacement costs over time. As industries continue to prioritize durability and reliability in their cooling solutions, the use of stainless steel in liquid cold plates is expected to grow, particularly in specialized applications that require enhanced material performance.

Titanium:

Titanium is increasingly being recognized as a viable material for liquid cold plates due to its excellent corrosion resistance and strength-to-weight ratio. Although titanium is generally more expensive than other materials, its superior properties make it an attractive option for specialized applications in aerospace and medical devices where performance and durability are critical. The lightweight nature of titanium enhances the overall efficiency of cooling systems, particularly in applications where weight savings are essential. As industries strive for higher efficiency and advanced performance in thermal management, the adoption of titanium for liquid cold plates is expected to gain traction.

Nickel:

Nickel is often used as a coating material for liquid cold plates, enhancing corrosion resistance and improving thermal performance. Nickel-plated surfaces provide additional protection against environmental factors, making them suitable for applications in harsh conditions. This material can significantly prolong the lifespan of liquid cold plates and is often integrated into designs where longevity and reliability are paramount. As industries continue to focus on sustainability and durability, the demand for nickel-coated liquid cold plates is anticipated to increase, reflecting the need for enhanced performance in thermal management solutions.

By Region

The Liquid Cold Plate market is experiencing dynamic growth across various regions, with North America leading in market share due to its advanced technological infrastructure and high demand for cooling solutions in electric vehicles and high-performance computing. In 2023, North America accounted for approximately 40% of the global market, driven by significant investments in R&D and the presence of key market players. The region is expected to witness a CAGR of 9.0% over the next decade as innovation and the adoption of electric vehicles continue to rise. Furthermore, the growing focus on energy-efficient solutions in data centers is expected to contribute to the region’s market expansion.

Europe follows closely, driven by stringent regulations promoting energy efficiency and the rapid adoption of electric vehicles across several countries. With an increasing emphasis on sustainable technologies, the European market is predicted to grow at a CAGR of 7.5% through 2035. The Asia Pacific region is also witnessing remarkable growth, particularly in countries like China and Japan, where the demand for advanced cooling solutions is on the rise due to the booming automotive and electronics sectors. By 2035, the Asia Pacific region is expected to hold a significant share of the global market, reflecting the region's rapid industrialization and technological advancements.

Opportunities

The Liquid Cold Plate market presents numerous opportunities driven by technological advancements and an increasing focus on energy efficiency across various industries. One significant opportunity lies in the growing electric vehicle sector, where efficient thermal management systems are essential for battery performance and longevity. As governments worldwide push for the adoption of electric vehicles to reduce carbon emissions, the demand for innovative cooling solutions is set to rise. Manufacturers who prioritize R&D in cooling technologies can capitalize on this trend, providing advanced liquid cold plates tailored for the unique requirements of electric vehicles. Additionally, the integration of smart technologies, such as IoT sensors for real-time monitoring and control, offers further avenues for innovation and differentiation within the market.

Moreover, the increasing emphasis on sustainability and reduced energy consumption in industrial processes opens up additional opportunities for liquid cold plate manufacturers. Industries are actively seeking solutions that not only improve thermal management but also contribute to overall system efficiency and lower operational costs. As liquid cold plates are recognized for their ability to optimize cooling performance while minimizing energy consumption, their adoption is likely to rise in various sectors, including aerospace, healthcare, and telecommunications. Expanding into emerging markets where industrialization and technological advancements are accelerating can also provide new growth opportunities, enhancing the global footprint of liquid cold plate manufacturers.

Threats

Despite the promising growth prospects for the Liquid Cold Plate market, there are certain threats that could hinder its expansion. One of the primary threats is the fluctuation in raw material prices, particularly for metals like copper and aluminum, which are integral to the production of liquid cold plates. Price volatility can affect manufacturing costs and ultimately lead to higher prices for end consumers, potentially reducing demand. Additionally, the presence of alternative cooling technologies, such as air cooling solutions and phase change materials, poses a threat as they may be perceived as more cost-effective or easier to implement in some applications. The competitive landscape is intensifying as new players enter the market, which could lead to price wars and reduced profit margins for established companies.

Furthermore, regulatory challenges regarding environmental sustainability and material usage may also present threats to the Liquid Cold Plate market. As regulations evolve, manufacturers must adapt their processes and materials to comply with new standards, which could involve significant investment in research and development. The potential for market saturation in key regions also poses a concern, as increasing competition may limit growth opportunities for existing players. Therefore, manufacturers must remain agile, continuously innovating their product offerings and exploring new markets to mitigate these threats and sustain their competitive advantage in the evolving landscape.

Competitor Outlook

• Advanced Cooling Technologies, Inc.
• CoolIT Systems Inc.
• Thermal Management Solutions, LLC
• Intel Corporation
• Fujitsu Limited
• Novatech, Inc.
• Vapor Phase Technologies LLC
• Lytron Inc.
• PCB Piezotronics, Inc.
• Wikoff Color Corporation
• Delta Electronics, Inc.
• Riello Group
• Beijing BBI Technology Co., Ltd.
• Honeywell International Inc.
• Aavid Thermalloy, LLC

The competitive landscape of the Liquid Cold Plate market is characterized by a mix of established players and new entrants, all vying for a share of the growing demand for advanced thermal management solutions. Major companies are focusing on innovation, investing significantly in research and development to provide cutting-edge products that meet the evolving needs of various industries. This emphasis on innovation helps to differentiate products in a crowded marketplace and provides a competitive edge. Additionally, many companies are forging strategic partnerships and collaborations to enhance their product offerings and expand their market reach, particularly in the electric vehicle and high-performance computing sectors, where demand is surging.

Companies like Advanced Cooling Technologies, Inc. and CoolIT Systems Inc. have established themselves as leaders in the liquid cooling industry, leveraging their technological expertise and strong brand recognition to maintain a competitive advantage. Advanced Cooling Technologies, Inc. specializes in custom thermal solutions, catering to a wide range of applications, including aerospace and defense. Their focus on innovation and sustainability aligns well with the growing emphasis on energy efficiency in today's market. On the other hand, CoolIT Systems Inc. has positioned itself as a pioneer in liquid cooling solutions for high-performance computing, offering scalable and efficient cooling systems that cater to the needs of data centers and gaming enthusiasts alike.

Moreover, companies such as Intel Corporation and Fujitsu Limited are also making significant strides in the liquid cooling market, integrating liquid cold plates into their hardware solutions to enhance performance. Intel's commitment to sustainability and energy efficiency drives its research into advanced cooling technologies, while Fujitsu's expertise in high-performance computing solutions positions it well to capitalize on the growing demand for liquid cooling in this sector. As these major players continue to innovate and adapt to market dynamics, the competitive landscape of the Liquid Cold Plate market will likely evolve, shaping the future of thermal management solutions.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Lytron Inc.
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Riello Group
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Novatech, Inc.
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Fujitsu Limited
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Intel Corporation
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 CoolIT Systems Inc.
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Aavid Thermalloy, LLC
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 PCB Piezotronics, Inc.
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Delta Electronics, Inc.
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Wikoff Color Corporation
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Honeywell International Inc.
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Vapor Phase Technologies LLC
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Beijing BBI Technology Co., Ltd.
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Thermal Management Solutions, LLC
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Advanced Cooling Technologies, Inc.
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Liquid Cold Plate Sales Market, By Application
    • 6.1.1 Electric Vehicle Battery Cooling
    • 6.1.2 High-Performance Computing
    • 6.1.3 Laser Equipment
    • 6.1.4 Medical Devices
    • 6.1.5 Aerospace & Defense
  • 6.2 Liquid Cold Plate Sales Market, By Product Type
    • 6.2.1 Single Sided Liquid Cold Plate
    • 6.2.2 Double Sided Liquid Cold Plate
    • 6.2.3 Formed Tube Liquid Cold Plate
    • 6.2.4 Vacuum Brazed Liquid Cold Plate
    • 6.2.5 Machined Channel Liquid Cold Plate
  • 6.3 Liquid Cold Plate Sales Market, By Material Type
    • 6.3.1 Copper
    • 6.3.2 Aluminum
    • 6.3.3 Stainless Steel
    • 6.3.4 Titanium
    • 6.3.5 Nickel
  • 6.4 Liquid Cold Plate Sales Market, By Distribution Channel
    • 6.4.1 Direct Sales
    • 6.4.2 Indirect Sales

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Middle East & Africa - Market Analysis
    • 10.5.1 By Country
      • 10.5.1.1 Middle East
      • 10.5.1.2 Africa
  • 10.6 Liquid Cold Plate Sales Market by Region

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Liquid Cold Plate Sales market is categorized based on

By Product Type

• Single Sided Liquid Cold Plate
• Double Sided Liquid Cold Plate
• Formed Tube Liquid Cold Plate
• Vacuum Brazed Liquid Cold Plate
• Machined Channel Liquid Cold Plate

By Application

• Electric Vehicle Battery Cooling
• High-Performance Computing
• Laser Equipment
• Medical Devices
• Aerospace & Defense

By Distribution Channel

• Direct Sales
• Indirect Sales

By Material Type

• Copper
• Aluminum
• Stainless Steel
• Titanium
• Nickel

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Advanced Cooling Technologies, Inc.
• CoolIT Systems Inc.
• Thermal Management Solutions, LLC
• Intel Corporation
• Fujitsu Limited
• Novatech, Inc.
• Vapor Phase Technologies LLC
• Lytron Inc.
• PCB Piezotronics, Inc.
• Wikoff Color Corporation
• Delta Electronics, Inc.
• Riello Group
• Beijing BBI Technology Co., Ltd.
• Honeywell International Inc.
• Aavid Thermalloy, LLC