The adoption of immersion cooling technology is on the rise across various industries. Notably, the cryptocurrency mining sector has embraced immersion cooling to tackle the heat generated by mining rigs. Similarly, AI research centers and organizations deploying high-performance computing clusters are turning to Immersion Cooling to meet their intense computational demands.
Major players in the data center industry are also recognizing the potential of immersion cooling and are investing in research and development to optimize the technology for mainstream adoption. As the technology matures, costs are expected to decrease, making immersion cooling more accessible to a broader range of data center operators.
The global immersion cooling market is expected to reach a valuation of US$ 2,547.9 Million by 2032, with the demand growing at an astounding CAGR of 21.7% from 2022 to 2032. Scaling up from a value of US$ 297.8 Million in 2021, the target market is likely to reach an estimated US$ 357.3 Million in 2022. Escalation in levels of data output and data processing all over the world is projected to fuel the growth of the immersion cooling market. Strict carbon emission control regulations coupled with a demand for high density and computation requirements will bolster the growth of the target market during the forecast period.
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The demand for immersion cooling is driven by the high energy generation of IT infrastructures and the critical need to effectively manage component heat. Immersion cooling improves data center productivity and has gained a significant 6-8% share of the global liquid cooling market.
The rapid increase in international internet traffic, driven by the growing usage of social networks, streaming, and gaming, has led to a surge in the demand for cloud and hyperscale data centers. Advancements in technology, including artificial intelligence, the Internet of Things, cloud computing, and machine learning, have further fueled the proliferation of data centers worldwide. As a result, the immersion cooling market is experiencing rapid growth due to the need for precise and efficient cooling solutions for high-density storage components in these data centers.
Other factors like elevated demand for smart devices, analytics, cloud computing, and wireless networking technologies which boost the demand for IT infrastructure, also supplement the growth of the target market. Government initiatives and regulations seeking to reduce carbon emissions are also driving the demand for the immersion cooling market during the forecast period.
Key Takeaways:
- Rising blockchain technology will strengthen the market prospects.
- The immersion cooling market in Europe will expand at a CAGR of 22.4%.
- Germany’s immersion cooling market will grow at a CAGR of 23.4%.
- The immersion cooling market in North America will register a CAGR of 20.1%.
- A prominent contributor in Europe, the immersion cooling market in the U.K. will reach a value of US$ 222.7 Mn in 2032.
- The synthetic and mineral oil segment will create a growth opportunity of US$ 1,540.2 Mn.
- Fluorocarbon-based fluids are likely to expand at 22.8% of value CAGR during the forecast period.
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Competitive Landscape
Major players in the immersion cooling market
- 3M
- The DOW Chemical Company
- FUCHS LUBRICANTS CO.
- Solvay’s
- Shell
- Chemours
- DSI Ventures, Inc.
- MI VOLT
- Engineered Fluids
- Cargill Inc.
- GRC Cooling
- Zhejiang Juhua Co. Ltd.
Leading market players are focusing on product development so as to meet the rising demand for cost-effective and energy-efficient immersion cooling liquids. These firms are keen on releasing new products and employing strategies like partnerships and collaborations to strengthen their market presence.
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More Insights into Immersion Cooling Market Report
In its latest report, FMI offers an unbiased analysis of the global immersion cooling market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of type (single phase immersion cooling, two-phase immersion cooling), cooling fluid (mineral oil, synthetic, fluorocarbon-based, others), application (high-performance computing, artificial intelligence, edge computing, cryptocurrency mining, others), and region.
According to the latest FMI reports, based on segmentation, the synthetic and mineral oil cooling fluid segments are likely to witness heightened demand due to their affordability, and long-term usability in immersion cooling techniques. These two subsegments will generate a growth opportunity of US$ 1,540.2 Mn. In terms of application, the cryptocurrency mining segment is expected to grow at a CAGR of 23.4% during the forecast period.
Based on region, the immersion cooling market in the United States, France, and the United Kingdom is anticipated to demonstrate impressive growth. The target market in the U.S. is likely to register a value CAGR of 20.3% owing to the presence of numerous data centers, and stricter government rules on carbon emissions. In 2022, the immersion cooling market in the U.K. will account for about 25.4% of the market share in Europe while France’s immersion cooling market will likely be valued at more than US$ 220.2 Mn by 2032.
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