The immersion cooling market is anticipated to grow at a CAGR of 23.98% from US$317.201 million in 2022 to US$1,427.887 million by 2029.

NOIDA, UTTAR PARDESH, INDIA, January 29, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the immersion cooling market is projected to grow at a CAGR of 23.98% between 2022 and 2029 to reach US$1,427.887 million by 2029.

Immersion cooling is used in electric vehicles for cooling the battery pack by immersing it in a thermally conductive liquid, often a dielectric fluid. Increasing electric vehicle production is a major driving force behind the growth of the immersion cooling market. For instance, according to the International Energy Agency, the sales of electric cars have tripled in three years, from 4% in 2020 to 14% in 2022. Additionally, electric vehicle sales in the United States is increased by 55% in 2022.

Immersion cooling is a technique for cooling electronic components owing to which its applied in data center cooling, and electric vehicle components by immersing them in a non-conductive fluid, such as mineral oil or dielectric liquid. It consists of numerous applications including, high-performance computing, edge computing, and cryptocurrency mining. Moreover, increasing the number of data centers is contributing to the growth of the immersion cooling market.

Numerous product launches and collaborations are occurring in the market, propelling the growth of the immersion cooling market. For instance, in November 2023, LiquidStack announced a single-phase liquid cooling solution to lead and deliver high-performance, cost-effective, and dependable liquid cooling solutions to solve the most difficult thermal management issues of IT infrastructure in centralized and edge data centers around the world. Additionally, in September 2022, Dow developed DOWSIL™ Immersion Cooling Technology, a next-generation solution for cooling hyperscale cloud and enterprise data centers with maximized efficiency and sustainability.

Access sample report or view details: https://www.knowledge-sourcing.com/report/immersion-cooling-market

The immersion cooling market, based on type is segmented into two main categories namely single-phase, and two-phase. Single-phase immersion cooling is widely utilized as it is used to change liquid or gaseous phase to dissipate heat and it is commonly used in applications where the cooling requirements are relatively low and cost-effectiveness is important. Single-phase cooling includes air cooling with fans or heat sinks and liquid cooling with circulation pumps. This makes it an ideal option for numerous applications and therefore accounts for a major share of the immersion cooling market growth.

The immersion cooling market, based on application is segmented into four main categories namely high-performance computing, edge computing, cryptocurrency mining, and others. Cryptocurrency mining is widely used as an application in the immersion cooling market as it involves solving complex mathematical problems to validate and secure transactions on a blockchain network. This process generates a lot of heat, which is efficiently managed with immersion cooling techniques. Immersion cooling immerses mining hardware, such as graphics processing units or application-specific integrated circuits, in a non-conductive liquid, dissipating heat more effectively than traditional air or liquid cooling methods, and accounts for a significant portion of the immersion cooling market.

The immersion cooling market, based on the cooling fluid is segmented into four main categories namely mineral oils, synthetic oils, fluoro-carbon-based fluids, and others. Fluoro-carbon-based fluids are widely used due to their superior heat transfer properties. Fluoro-carbon-based fluids, such as perfluorocarbons (PFCs), have high dielectric strength and thermal conductivity, making them ideal for cooling high-power electronics and data centers.

Asia Pacific is projected to account for a significant portion of the immersion cooling market due to the increasing electric vehicle (EV) applications in the region. For instance, according to the International Energy Agency, electric car sales tripled in India and Indonesia in 2022, and the share of electric car sales rose to 1.5% in India and Indonesia. Additionally, as per the same source, China is the market leader, accounting for 60% of global electric vehicle sales in 2022.

The research includes coverage of DCX, GIGA-BYTE Technology Co., Ltd., Exxon Mobil Corporation, 3M, IBM, Eaton, Submer, Hewlett Packard Enterprise Development LP, Schneider Electric, and Laird Thermal Systems, Inc. are significant market players in the immersion cooling market.

The market analytics report segments the immersion cooling market using the following criteria:

• By Type

o Single-Phase
o Two-Phase

• By Application

o High-Performance Computing
o Edge Computing
o Cryptocurrency Mining
o Others

• By Cooling Fluid

o Mineral Oils
o Synthetic Oils
o Fluoro-carbon based Fluids
o Others

• By Geography

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• Germany
• France
• United Kingdom
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Israel
• Others

o Asia Pacific

• China
• Japan
• India
• South Korea
• Indonesia
• Taiwan
• Others

Companies Profiled:

• DCX
• GIGA-BYTE Technology Co., Ltd.
• Exxon Mobil Corporation
• 3M
• IBM
• Eaton
• Submer
• Hewlett Packard Enterprise Development LP
• Schneider Electric
• Laird Thermal Systems, Inc.

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Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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