Looking at the transformation of computing power from the perspective of 10 trillion kilowatt hours of electricity consumption, domestic power supplies and heat dissipation components are accelerating their breakthrough

Recently, the total electricity consumption in China has exceeded 10 trillion kilowatt hours for the first time, and computing infrastructure has become the core engine for the growth of electricity consumption. Data shows that by 2025, the electricity consumption of data centers in China will account for about 2.4% of the national total, with an annual growth rate of up to 20%. It is predicted that this proportion will exceed 5% by 2030 and may exceed 13% by 2035. The rapid development of AI big models and the continuous expansion of computing power clusters are the main reasons for driving up electricity demand. The sharp surge in electricity load directly drives the market demand for high-power power supply devices and advanced heat dissipation components to explode. At the same time, the practical needs of supply chain security and cost control have created unprecedented historical substitution opportunities for domestic component companies, gradually breaking the long-term monopoly of overseas manufacturers.

The rapid increase in computing power density is the core of the surge in power consumption in data centers, and also provides key application scenarios for domestic high-power power supply devices. As the power consumption of high-end AI chips continues to move towards the kilowatt level and even higher, the power of single cabinets is crossing the megawatt level. The traditional 48V power supply architecture is facing bottlenecks, and the 800V high-voltage direct current (HVDC) architecture is accelerating its implementation. In this technological transformation, wide bandgap semiconductor chips represented by silicon carbide (SiC) and gallium nitride (GaN) have become key areas for domestic enterprises to achieve breakthroughs. High power power supply devices are the core of data center power conversion, which have long been dominated by international giants. At present, the domestic industry is accelerating to catch up: leading third-generation semiconductor companies in China have achieved stable mass production of large-sized silicon carbide substrates, and their MOSFET products are gradually showing competitiveness in terms of cost; The major domestic gallium nitride chip manufacturers have continuously improved their advanced wafer manufacturing yield, and some high-voltage chips have passed international certification and been applied in large data centers. In addition, multiple domestic power supply manufacturers have successfully developed and covered high-power power modules at the kilowatt level or above, and related products have also begun to provide support for international mainstream computing equipment.

Accompanying high power consumption is a severe challenge in heat dissipation. The soaring electricity consumption in data centers has led to an exponential increase in equipment heat generation, with single cabinet heat exchange easily exceeding 80kW. Traditional air cooling technology can no longer meet the demand and has low energy efficiency. Liquid cooling technology is accelerating the replacement of air cooling, driving a surge in demand for key cooling components such as heat sharing plates, cold plates, and liquid cooling distribution units (CDUs), opening up new growth opportunities for domestic cooling enterprises. In the past, the high-end cooling market for data centers was mainly dominated by overseas enterprises. Nowadays, domestic solutions are rapidly emerging. The efficient liquid cooling solution developed by a domestic team can achieve heat exchange of over 80kW per cabinet, significantly reducing the power consumption efficiency (PUE) of data centers and achieving significant energy-saving effects compared to traditional air cooling solutions. At the same time, domestically produced products such as heat exchangers and heat pipes have gradually entered the supply chain system of top customers due to their customization and cost advantages.

The acceleration of the localization substitution process is driven by both policy and market factors. Guided by the "dual carbon" goals and power supply policies, the construction of green data centers has become an inevitable trend, with domestically produced high-performance and high-power power and cooling components as the core support. The promotion of the national level project of "East Calculation and West Calculation" has also driven the huge demand for related components in the western computing hub. In addition, the fluctuations in the global supply chain have also prompted top data center operators to actively layout and cultivate domestic supply chains to enhance resilience. Of course, domestic substitution still faces some challenges, such as the gap between high-end packaging of wide bandgap chips, integrated solutions for liquid cooling systems, and the top level overseas. Some core raw materials and production capacity yield also need to be further improved. However, the market dividends brought by the continuously growing demand for electricity are strongly driving domestic enterprises to increase research and development investment, expand advanced production capacity, and accelerate technological breakthroughs and iterations.

Looking ahead, the release of AI computing power demand will continue to drive up data center electricity consumption, and the market space for related components will continue to expand accordingly. Domestic enterprises need to focus on core requirements such as high-voltage architecture and efficient heat dissipation, increase research and development of key technologies, and strengthen collaborative innovation in the upstream and downstream of the industrial chain. By leveraging the vast domestic market application scenarios, policy support, and cost advantages, we aim to accelerate the certification and mass production process of our products at benchmark customers, thereby continuously enhancing our voice in the global industrial chain. In summary, the surge in computing power consumption is reshaping the data center industry landscape and fully activating the localization momentum of upstream components. Under the multiple favorable factors of demand, policies, and technological breakthroughs, the domestic substitution of high-power power supplies and advanced heat dissipation components has entered an accelerated period. Domestic enterprises with core technological strength and rapid iteration capability are expected to stand out and promote the development of the entire industry towards high quality and efficiency.