AI Infrastructure & Cooling · September 2026India AI Data Centre Cooling 2026–2035
Market evidence, technology choices, and domestic supplier capability — from audited capacity inventories and verified transaction records.India's AI data-centre cooling opportunity is real but frequently overstated. This report replaces uncalibrated market forecasts with an audited H1 2026 capacity inventory — 1,789 MW operational, 509 MW under construction and 3,351 MW planned (Cushman & Wakefield) — and attributed external benchmarks rather than a single proprietary TAM. It shows that cooling architecture follows the whole system design, not a chip-power threshold (NVIDIA documents an air-cooled DGX B200), and that India's domestic capability is broader than assumed: Schneider's Bengaluru liquid-cooling factory, Vertiv's Pune manufacturing and rack-level co-engineering with Netweb. Global liquid-cooling revenue runs at roughly $3 billion (2025) toward about $7 billion by 2029 (Dell'Oro), and liquid-cooled builds carry a 7–10% construction premium (Turner & Townsend) — a whole-facility figure, not an India equipment quote. Across 59 pages, 22 tables and 43 sourced records, it separates observed stock from conditional pipeline, distinguishes India presence from indigenous IP, and frames the real execution risks — power, water, qualification and service support — for the policymakers, operators and investors deciding where domestic value can actually be captured.
