In this article, we look at the 10 Fastest-Growing Data Center Cooling Stocks to Invest in Right Now.
Data center cooling has become one of the more urgent infrastructure themes inside the AI buildout. The International Energy Agency expects global data center electricity consumption to roughly double from 485 TWh in 2025 to 950 TWh in 2030, while electricity use from AI-focused data centers is projected to triple over the same period. In the US, the pressure is already visible. Lawrence Berkeley National Laboratory’s 2024 report for the Department of Energy estimated that US data centers consumed 176 TWh in 2023, equal to 4.4% of total US electricity consumption, and projected that figure could rise to 325 TWh to 580 TWh by 2028 under different growth scenarios.
Cooling is central to that equation because higher-density AI servers are changing the physical design of data centers. Uptime Institute’s 2025 Global Data Center Survey found that average PUE has shown little improvement for six straight years, with efficiency gains constrained by legacy infrastructure and cooling barriers. NVIDIA has also noted that hyperscale racks that once operated at around 20 kW can now support more than 135 kW, making heat removal far more challenging. That shift is pushing demand toward liquid cooling, advanced HVAC systems, heat exchangers, cold plates, coolant distribution units, and other thermal-management technologies.
Methodology
To compile our list of the fastest-growing data center cooling stocks, we screened publicly traded companies with exposure to data center cooling, including facility-level HVAC systems, liquid-cooling infrastructure, and server/rack-level thermal-management components. We then selected stocks that had the highest year-over-year revenue growth rate. Companies with severe balance sheet stress, persistent going-concern risk, or weak relevance to data center cooling were excluded from the final list.
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10. EMCOR Group, Inc. (NYSE:EME)
EMCOR Group, Inc. (NYSE:EME) is one of the fastest-growing data center cooling stocks to invest in right now. The company’s current investor angle is its role in complex infrastructure work for data centers and high-tech manufacturing projects, where mechanical construction, HVAC, chiller services, piping, controls, electrical distribution, and ongoing facilities support are central to keeping mission-critical sites operational. On May 28, 2026, Oppenheimer initiated coverage of EMCOR with an Outperform rating and a $1,100 price target, citing the company’s exposure to data center development and high-tech manufacturing projects.
The growth profile supports that view. On April 29, 2026, EMCOR reported first-quarter revenue of $4.63 billion, up 19.7% year over year, while organic revenue increased 16.8%. Remaining performance obligations reached a record $15.62 billion, up 32.9% from a year earlier, giving the company solid visibility across complex construction and services work. EMCOR’s own data center capabilities include infrastructure design-build, prefabrication, HVAC, chiller services, piping and sheet metal fabrication, temperature and process controls, testing and balancing, and ongoing mechanical and electrical support. That makes EMCOR a cooling-infrastructure contractor rather than a pure-play cooling equipment company.
EMCOR Group, Inc. provides mechanical and electrical construction services, building services, industrial services, energy infrastructure, facilities services, HVAC, plumbing, controls, fire protection, and related solutions.
9. SPX Technologies, Inc. (NYSE:SPXC)
SPX Technologies, Inc. (NYSE:SPXC) is one of the fastest-growing data center cooling stocks to invest in right now. The company’s growth story is increasingly tied to its HVAC backlog and rising demand from data center customers. On June 10, 2026, Trefis noted that SPX is investing more than $100 million to expand HVAC manufacturing capacity as demand for data center cooling products rises. The company’s HVAC segment revenue increased 22% year over year in the first quarter, while HVAC backlog reached $755 million, up 38% organically, primarily driven by data center demand. SPX also expects data center sales to rise about 50% in 2026, making cooling one of the clearer growth engines inside its HVAC portfolio.
The product angle supports that demand. On April 29, 2026, SPX Cooling Tech launched the Marley OlympusMAX Fluid Cooler, a modular dry and adiabatic cooling platform built for data centers, industrial plants, and high-density cooling applications. SPX said the unit can be configured in dry or adiabatic versions, includes a bolt-on adiabatic module that can be installed at the factory, in the field, or after the system is operating, and is designed to improve energy and water-use predictability for hyperscale data centers.
SPX Technologies, Inc. provides highly engineered products and technologies across HVAC and detection and measurement markets, including cooling towers, fluid coolers, adiabatic cooling systems, dry coolers, air movement products, and related infrastructure technologies.
8. Eaton Corporation plc (NYSE:ETN)
Eaton Corporation plc (NYSE:ETN) is one of the fastest-growing data center cooling stocks to invest in right now. The company’s latest investor angle came on June 11, 2026, when Eaton agreed to combine its Mobility business with Dana in a transaction valuing the unit at about $5.1 billion. The move helps sharpen Eaton’s portfolio around electrical and aerospace markets, including data centers, where AI demand is pulling more capital toward integrated power and thermal infrastructure.
The cooling case comes from Eaton’s completed acquisition of Boyd Thermal. On March 12, 2026, Eaton closed the deal, adding a business focused on thermal components, systems, and ruggedized solutions for data centers, aerospace, and other end markets. Eaton said Boyd’s liquid-cooling expertise would support “grid to chip” data center solutions, pairing Eaton’s power-management scale with advanced cooling capabilities. The company’s thermal portfolio now includes air and liquid cooling systems, heat exchangers, conduction cooling, and two-phase heat transfer technologies. Eaton’s growth profile also supports the data center push, with first-quarter sales rising 17% year over year to $7.5 billion.
Eaton Corporation plc (NYSE:ETN) provides power management products and services, including electrical systems, power distribution, backup power, circuit protection, automation, thermal management, aerospace systems, and related solutions for data center, utility, industrial, commercial, residential, aerospace, and mobility markets.
7. Vertiv Holdings Co (NYSE:VRT)
Vertiv Holdings Co (NYSE:VRT) is one of the fastest-growing data center cooling stocks to invest in right now. The company’s clearest recent cooling move came on June 12, 2026, when it completed the acquisition of ThermoKey S.p.A., an Italian provider of heat rejection and heat-exchange technologies. The deal strengthens Vertiv’s thermal management portfolio and adds manufacturing capacity in Europe, the Middle East, and Africa, a useful position as AI data centers push cooling requirements beyond traditional room-level systems.
The ThermoKey acquisition is particularly relevant because heat rejection is becoming a bottleneck in high-density AI infrastructure. Vertiv said ThermoKey brings heat-exchange solutions, dry coolers, and compatibility with low-GWP and natural refrigerants, giving the company more flexibility in designing thermal architectures for different sites and workloads. The move also follows Vertiv’s April 27 acquisition of Strategic Thermal Labs, a specialist in advanced liquid-cooling technologies, cold-plate design, server-side liquid cooling, and high-density thermal validation. Together, the two deals show Vertiv moving deeper across the full thermal chain, from chip-level heat removal to facility-level heat rejection.
Vertiv Holdings Co provides critical digital infrastructure products and services, including power management, thermal management, racks, monitoring systems, and lifecycle services for data centers, communication networks, and commercial and industrial environments.
6. Madison Air Solutions Corporation (NYSE:MAIR)
Madison Air Solutions Corporation (NYSE:MAIR) is one of the fastest-growing data center cooling stocks to invest in right now. The company’s data center cooling platform is built around air, liquid, and hybrid cooling systems for high-density facilities, including applications such as liquid cooling, hybrid cooling, air cooling, and product lifecycle support. Madison Air also says its C-Force engineering team works with hyperscalers and operators across design, delivery, commissioning, and service, which gives the company a more direct role in AI data center thermal infrastructure than a general HVAC supplier.
The company’s growth story is increasingly tied to that data center exposure. On May 11, it was reported that Madison Air expected shipments of data center cooling units to more than triple to 10,000 units in 2026 from roughly 3,000 units in 2025. In its May 12 first-quarter update, Madison Air said more than half of its organic commercial sales growth was driven by its data center cooling business.
Madison Air Solutions Corporation provides indoor air quality, ventilation, thermal management, and cooling solutions for commercial, industrial, data center, healthcare, education, and residential markets.
5. Delta Electronics (Thailand) Public Company Limited (OTC:DLEGF)
Delta Electronics (Thailand) Public Company Limited (OTC:DLEGF) is one of the fastest-growing data center cooling stocks to invest in right now. The company’s latest cooling angle came on June 5, 2026, when it announced a prefabricated AI modular data center solution unveiled at COMPUTEX 2026, designed to cut deployment time by up to 60%. The system integrates an 800VDC high-voltage power architecture with advanced liquid cooling technologies, giving Delta a role in both the electrical and thermal redesign of high-density AI facilities.
Delta’s cooling portfolio is also moving closer to the chip and rack level. At COMPUTEX 2026, held from June 2 to June 5, the company highlighted a 3 MW GoCool liquid-to-liquid coolant distribution unit, a 2.4 MW in-row CDU, a modular 1.5 MW in-row CDU, and a cold plate for NVIDIA Vera Rubin NVL72 systems. Its AI containerized data center solution also supports liquid-cooled AI servers and up to 60 kW of IT load per rack. The push follows Delta’s April 22 memorandum of understanding with Daikin to collaborate on next-generation CDU solutions for AI and HPC data centers across ASEAN-Oceania.
Delta Electronics (Thailand) Public Company Limited provides power management, thermal management, automation, data center infrastructure, telecom infrastructure, EV charging, and smart energy solutions.
4. Modine Manufacturing Company (NYSE:MOD)
Modine Manufacturing Company (NYSE:MOD) is one of the fastest-growing data center cooling stocks to invest in right now. The company’s strongest recent data center cooling angle came on May 26, 2026, when it announced a long-term capacity agreement with a strategic data center customer for Airedale by Modine cooling solutions. Under the agreement, Modine will reserve capacity to supply more than $4 billion of Airedale data center cooling products during calendar years 2027 through 2029, supported by a $165 million upfront cash payment from the customer to help fund capacity investments.
The agreement gives Modine unusually clear demand visibility in a cooling market being reshaped by high-density AI workloads. Airedale’s product positioning is built around data center thermal management, including chillers and heat rejection systems that help manage the rising heat load from GPU-heavy deployments. Earlier this year, Airedale also unveiled the TurboChill 3+MW, a hybrid air-cooled chiller platform designed for AI data centers, with free-cooling capability and mechanical cooling for peak heat loads. Modine’s fourth-quarter data center sales rose 158% year over year, showing that the cooling demand is already translating into segment growth.
Modine Manufacturing Company provides thermal management systems and solutions, including heating, cooling, ventilation, heat transfer, and data center cooling products.
3. nVent Electric plc (NYSE:NVT)
nVent Electric plc (NYSE:NVT) is one of the fastest-growing data center cooling stocks to invest in right now. The company’s latest data center cooling angle came on June 1, 2026, when Siemens announced a reference architecture for NVIDIA AI data centers that incorporated nVent-aligned design considerations. The reference design targets NVIDIA DSX Vera Rubin NVL72 deployments, where rising rack densities are pushing infrastructure requirements beyond traditional air-cooled setups and toward integrated power and cooling architectures.
nVent’s role in this shift is built around liquid cooling and high-density rack infrastructure. The company has said it has deployed more than two gigawatts of liquid cooling capacity globally, while its data center portfolio includes coolant distribution units, liquid-to-air heat rejection units, rear-door heat exchangers, rack manifolds, and high-density power distribution. In November 2025, nVent also unveiled modular row-based CDUs, rack-based CDUs, technology cooling system manifolds, and updated racks designed to support next-generation AI chips. The demand is already showing up financially, as nVent’s first-quarter 2026 sales rose 53% year over year, with Systems Protection sales up 76%.
nVent Electric plc (NYSE:NVT) provides electrical connection and protection solutions, including systems protection, enclosures, liquid cooling, racks, power distribution, and electrical connection products for data centers, utilities, industrial, and commercial markets.
2. AAON, Inc. (NASDAQ:AAON)
AAON, Inc. (NASDAQ:AAON) is one of the fastest-growing data center cooling stocks to invest in right now. The company’s strongest recent angle came on May 7, 2026, when AAON raised its 2026 revenue growth outlook to 40%-45%, supported by a record backlog, expanded capacity, and improving production execution. The update showed that data center cooling demand is no longer just a product opportunity for AAON, but a major driver of backlog conversion and capacity utilization.
The clearest signal came from BASX, AAON’s advanced cooling and custom solutions brand. BASX-branded sales rose 72.4% year over year to $228.6 million in the first quarter, reflecting continued strength in data center cooling demand, higher production volumes, and increased use of recently commissioned capacity. AAON also said total backlog rose 107.4% year over year to $2.13 billion, with sequential backlog growth driven entirely by BASX. Within AAON Coil Products, growth was led by BASX-branded liquid cooling sales of $93.2 million, up 40.5% year over year, while improved throughput at the Longview facility helped support operating leverage.
AAON, Inc. designs and manufactures commercial, industrial, and data center HVAC and thermal management solutions under the AAON and BASX brands.
1. Comfort Systems USA, Inc. (NYSE:FIX)
Comfort Systems USA, Inc. (NYSE:FIX) is one of the fastest-growing data center cooling stocks to invest in right now. The company’s current investor angle is tied to Wall Street’s growing confidence that AI data center construction can keep driving demand for its mechanical and HVAC services. On June 8, 2026, UBS raised its price target on Comfort Systems USA to $2,125 from $1,992 and maintained a Buy rating after meeting with management. The firm said company comments pointed to a robust demand backdrop led by data centers, with strength also coming from semiconductors, healthcare, and education, and saw evidence that the current environment could persist through 2027.
The growth profile supports that view. Comfort Systems reported first-quarter revenue of $2.87 billion, up 56.8% year over year, while same-store revenue increased 51%. Backlog also rose to $12.45 billion from $6.89 billion a year earlier, giving the company strong visibility as customers continue building large, complex facilities. For this list, Comfort Systems’ relevance comes from its role in constructing the mechanical backbone of data centers, including HVAC, piping, controls, modular construction, and related cooling infrastructure.
Comfort Systems USA, Inc. provides mechanical and electrical contracting services, including heating, ventilation, air conditioning, plumbing, piping, controls, modular construction, and related services.
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