The report "Immersion Cooling Market by Type (Single-Phase And Two-Phase), Application (High-Performance Computing, Edge Computing, Cryptocurrency Mining), Cooling Fluid (Mineral Oil, Synthetic, Fluorocarbon-Based), and Geography – Global Forecast to 2026" The immersion cooling market is projected to grow from USD 243 million in 2021 to USD 700 million by 2026, at a CAGR of 23.6% from 2021 to 2026. The increasing need for better overlocking potential and growing demand for a compact and noise-free solution is expected to drive the immersion cooling market.
The cryptocurrency mining segment accounted for the largest share in the immersion cooling market.
Based on application, the cryptocurrency mining segment accounted for the largest share in the immersion cooling market. High electricity costs, expensive real estate, and the absence of legacy cooling systems are leading to the adoption of immersion cooling systems in cryptocurrency mining. Green Revolution Cooling Inc. (US), Submer (Spain), LiquidStack (Netherlands), Midas Green Technologies (US), and DCX – The Liquid Cooling Company (Poland) are the major providers of immersion cooling systems for cryptocurrency miners.
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The synthetic fluids segment led the global immersion cooling market during the forecast period.
Based on cooling fluid, the synthetic fluids segment is projected to grow at the highest CAGR from 2021 to 2026. This growth can be attributed to its extensive use in single-phase immersion cooling and its advantages such as efficiency, cooling capacity, and hardware reliability over other fluid types. The shift of mineral oil users toward synthetic fluids due to the corrosive effects of many of the naturally occurring sulfur compounds in mineral oils is also expected to drive the growth of the synthetic fluids segment.
North America accounted for the largest share in the immersion cooling market.
North America is the largest consumer of immersion cooling solutions across the globe due to the presence of many data centers and the rise in the popularity of advanced technologies, such as AI and big data, in the region. Cloud-based computing and big data analytics require highly efficient data storage capabilities. Moreover, the increase in the demand for green initiatives for ecological data center solutions and substantial growth in rack density have fueled the growth of the North American data center immersion cooling market. The presence of technology giants, such as Google, Microsoft, Facebook, and Apple, add to the growth of the North American data center immersion cooling market.
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LiquidStack (Netherlands), Green Revolution Cooling Inc (US), Submer (Spain), Iceotope Technologies Ltd (US), DCX - The Liquid Cooling Company (Poland), ExaScaler Inc (Japan), SixtyOneC Technology Corporation (Canada), Engineered Fluids (US), TK-SVYAZ (Russia) and TIEMMERS (Netherlands) are some of the players operating in the immersion cooling market.
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