20230417_招商证券_液冷及冷却液行业证券研究报告：算力提升驱动液冷方案推广氟化液迎来发展机遇_22页.pdf

|2023 04 17/2025 40%AI 5G PUE 24%PUE TCO 100%2025 40%2021 1500 2025 1283.2 1330.3 526.1 545.4 2019 18%2025 40%3M 3M 2025 PFAS%394 8.0 42820 5.0 35531 4.9%1m 6m 12m-1.1 2.2 7.0-3.8-4.3 9.4 1 2023 4 3 2023-04-16 2 2023 4 2 2023-04-10 3 2023-04-07 S1090515120001 S1090520080002-20-100102030Apr/22 Aug/22 Nov/22 Mar/23(%)化工 沪深300 2.4 1.4 2.6 3 TCO.7.12.14.18 1.18 2.19 3.19.19 1.4 2.5 3 PUE.6 4.6 5.7 6 2MW.8 7 2MW.8 8.8 9 2017-2023.12 10 2017-2022.12 11 2019-2025.14 12 2021-2025 MW.14 13.17 14.19 15 PEBand.20 16 PBBand.20 0YAZyRnQmPpOpRtQsPpQqR9PaOaQmOoOsQpMlOpPrNfQrQuM8OnNvNMYsOpQvPoMtP 3 1 PUE.4 2.9 3.10 4.11 5.11 6 2019-2025.12 7 2019-2025.13 8.15 9.15 10.16 11.16 12.16 13.17 14.18 4 5G 1 3050%X86 CPU 300400W 120W/cm2 30kW/1 PUE PUE 1.25 PUE 1 PUE PUE 12.3 PUE 1.3 1 2 PUE 1.25 2 3 PUE 1.2 3,PUE 1.15 1.41.8 0.5 16.6 2024 PUE 1.3 1.25 PUE 1.4 22.6 PUE 1.3 PUE 1.25 PUE 1.25 16.5 2025 1.3 5 1.25 15.5 2023 20%65%30%,10%,(PUE)1.3 1.25 14.7 2020 PUE 1.3 2022 PUE 1.4 2025 1.3 PUE 1.25 65%12.7 1.3 2022 1.4 18.4 2025 PUE 1.3 PUE 1.25 2023,PUE 1.3,PUE 1.4 2025 PUE 1.25,PUE 1.35 15.3 2025 PUE 1.3 PUE 1.25 60%PUE 1.3 4.3 2025 PUE 1.3 1.25 1.2 9.5 2025 PUE 1.15,WUE 0.8 2025 PUE 1.2 15.5 PUE 1.3 PUE 1.4 PUE,PUE 1.3 24%PUE PUE 24%PUE 60-70%2/PUE 1.151.35 PUE 1.25 65%24%8%3%IT 6 3 PUE 2 CRAC CRAH CRAC CRAH CRAH CRAC CRAH CRAC HPC 1 2 3 4 4 7 3 TCO CPU IT 5 ColocationAmerica TCO 1000 3000 1 CDU 4055 5%2 ICT 3 4 TCO PUE 1.2 10MW PUE1.15 PUE1.35 2.2 8 6 2MW 7 2MW CDU ICT 8 3 1 IT 2 IT 3 IT 15133966033 321351520 KW/BACK BACKS M 12008412801968056/KW/9 2 1 2 PUE 1.04 3 10oC 50%4 5 42U 19 20kW 200kW 10 1 2 3 3 LED TCO 100%3 3 IT IT IT PUE 1.1 1.3 PUE 1.05 1.1 PUE 1.05 1.1 100%PUE,;IT;3 IT 11 4 0+0+0+0+0+0+0+0+0+0+0-5 0+0-5 1 2 3 4 5 IBM 6 1 CDM 2 IT IT 12 IT 2021 520 2020 100 2021-2023 2023 20%2023 800 2021 1500 2022 1900 9 2017-2023 10 2017-2022 2025 CDU 2025 1283.2 1330.3 6 2019-2025 2019 2020E 2021E 2022E 2023E 2024E 2025E 57.4 62.4 67.4 72.4 77.7 83.3 89.1 1085.4 1385.0 1770.1 2265.7 2904.6 3729.5 4796.2 161.9 174.5 207.0 232.9 286.8 356.0 461.2 1304.7 1621.9 2044.5 2571.0 3269.1 4168.8 5346.5 15%17%17%18%18%18%19%15%16%17%18%19%19%21%15%17%17%17%17%18%20%20%20%20%22%22%22%24%20%23%22%22%23%23%25%20%20.5%21%21.8%22.6%23.6%24.6%22%22.5%23%23.8%24.6%25.6%26.6%21%21.5%22%22.8%23.6%24.6%25.6%24%24.5%25%25.8%26.6%27.6%28.6%26%26.5%27%27.8%28.6%29.6%30.6%01002003004005006007008009002017 2018 2019 2020 2021 2022E 2023E02004006008001000120014001600180020002017 2018 2019 2020 2021 2022E 13 20%22%22%22%23%23%24%260.9 356.8 449.8 565.6 751.9 958.8 1283.2 23.3%23.8%24.3%25.1%25.9%26.9%27.9%350.8 432.5 535.5 665.6 832.7 1048.3 1330.3 34.5%21.2%19.0%17.7%10.7%9.3%3.7%2025 757.1 526.1 2025 784.9 545.4 2019 18%2025 40%7 2019-2025 2019 2020E 2021E 2022E 2023E 2024E 2025E 260.9 350.8 356.8 432.5 449.8 535.5 565.6 665.6 751.9 832.7 958.8 1048.3 1283.2 1330.3 84%82%83%80%82%80%78%79%76%78%71%70%71%67%65%68%67%68%64%62%66%65%66%62%60%64%63%64%60%58%62%61%62%58%56%16%18%17%20%18%20%22%21%24%22%29%30%29%33%35%32%33%32%36%38%34%35%34%38%40%36%37%36%40%42%38%39%38%42%44%82%18%78%22%68%33%65%35%63%37%61%39%59%41%213.9 47.0 278.3 78.5 305.9 148.4 367.6 198.0 473.7 278.2 584.9 373.9 757.1 526.1 287.7 63.1 337.4 95.2 364.1 176.7 432.6 233.0 524.6 308.1 639.5 408.8 784.9 545.4 2025 24.0%25.0%23.0%2025 10.5%8.5%6.5%2.5%14 11 2019-2025 CNESA 2021 46.1GW 22%30%12 2021-2025 MW CNESA 1 2 3 4 5 6 7 8 9 IT 20.0%20.7%21.5%22.3%22.8%23.5%24.0%17.0%18.5%19.4%20.2%21.5%22.8%25.0%15.5%16.0%16.5%18.0%20.0%22.0%23.0%15.0%14.5%13.8%13.2%12.5%11.3%10.5%14.5%13.3%12.7%11.2%10.4%9.0%8.5%14.0%13.8%13.2%12.3%10.1%8.8%6.5%4.0%3.2%2.9%2.8%2.7%2.6%2.5%0%10%20%30%40%50%60%70%80%90%100%2019 2020E 2021E 2022E 2023E 2024E 2025E 5790.89114.714346.622581.535519.105000100001500020000250003000035000400002021 2022E 2023E 2024E 2025E 15/8 GRC(Electrosafe)3M Novec Fluoriner ASAHIKLIN AE Boreaf:25R 9 Coolano125R(a PAO)a(),16 10(PAO)(GTL)(CFC)(HCFC)(HFC)(PFC)(HFE)PFC(PFPE)CFC HCFC:/IT nPB HAP 26 ODP 11/(g/mol)/(mm/s/(mm/s/(kJ/kg)/(J/(kg K)/(N/m)Noah 2000 47-80 300 1620 0.373 97 1278 0.011 1.89 Novec 7100 61-135 250 1480 0.58 111.6 1116 0.01 2.07 Noah 3000 110120 450 1830 1.321 82.05 1014 0.015-FC-40 165-57-1835 2.2 69 1100 0.016 1.90 12/W/(W/(cm K)/cm FC-72 70.95 0.393 56 56 84 6.45 Novec 649 71.88 0.479 49 49 73 6.25 HFE-7100 75 0.545 61 61 83 6.25 PF-5060 25 3.85 51.4 51.4 57.9 1 CFC HCFC HFC PFC HFE CFC HFC 20 90 HCFC HFC HFC-365mfc GWP PFC PFPE 17 HFE 13 3M 13 3M Fluoriner 3M 3M Fluoriner,3M Novec 3M 3M Novec(GWP)(ODP)3M Novec(HFE)Fluere 3M(47-58C)55kv Fomblin YL VAC 25/6 3M 1 3M Fluorinert PFCs 2 3M Novec HFEs 1 PFCs FC-3283 FC-40 FC-43 FC-3284 FC-72 FC-70 3M Fluorinert 2 HFEs 7000 7100 7200 7300 7500 7700 3M Novec 1 3M Fluorinert 3M Fluorinert PFCs/18 2 3M Novec 3M Novec FK HFE 3M HFE Novec Novec Novec HFE GWP ODP Novec Fluorinert GHS Novec Fluorinert Novec Fluorinert 3M 2022 12 20 3M PFAS 2025 PFAS 14 D JHT JHT D JHT D boreafTH HELFTIC4ME Chiller 1 2020 D JHT 2021 8 5000 5.1 5000/1000 19 14 2 300037 Boreaf HEL FTM C4ME 50300oC Chiller PFAS 3M 2025 80%3M 3 35kt/a 2022H1 48%1 5G 2 3 20 4 PFAS 3M PFAS 2025 PFAS 3M PFAS PFAS 15 PEBand 16 PBBand 10 x15x20 x25x35x050010001500200025003000350040004500Apr/21 Oct/21 Apr/22 Oct/221.8x2.6x3.5x4.4x5.3x0500100015002000250030003500Apr/21 Oct/21 Apr/22 Oct/22 21 2015 2020 2022 6-12 A 300 500 20%5-20%5%5%前沿报告库是中国新经济产业咨询报告共享平台。行业范围涵盖新一代信息技术、5G、物联网、新能源、新材料、新消费、大健康、大数据、智能制造等新兴领域。为企事业单位、科研院所、投融资机构等提供研究和决策参考。扫一扫免费获取海量报告