Chicago, Sept. 28, 2022 (GLOBE NEWSWIRE) -- The market size of global Immersion Cooling Fluids Market is estimated to grow from USD 1.7 billion in 2022 to USD 2.6 billion by 2027, at a CAGR of 8.1% during the forecast period, according to a new report by MarketsandMarkets™. Expanding market for transformers, data center and EV battery is expected to drive the immersion cooling fluids market.
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The mineral oil segment is expected to hold the largest share of the immersion cooling fluids market, during the forecast period
The mineral oil segment is expected to lead the immersion cooling fluids market during the forecast period by value. Down sides for traditional air cooling for transformers and increasing need for effective cooling solution for higher server density of data centers gives boost to adoption for immersion cooling solutions. This will drive the market for mineral oil segment in immersion cooling fluids market.
The two-phase immersion cooling segment, by technology, is expected to account for the fastest growing segment during the forecast period
Based on technology, the immersion cooling fluids market is classified into single-phase and two-phase immersion cooling systems. The two-phase immersion cooling segment is expected to grow at the fastest rate during the forecast period by value. Two-phase immersion cooling system has overall higher energy efficiency than that of single-phase immersion cooling systems. This is expected to boost the market demand for this segment.
Among end-use, transformers is the largest segment in the immersion cooling fluids market
The transformer segment is expected to lead the immersion cooling fluids market during the forecast period by value. High power requirement results in heat generation in transformer. This heat reduces the performance of the transformer giving raise to efficient cooling requirement. This has enhanced the demand for immersion cooling for transformer, creating the market for immersion cooling fluids used in transformers.
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Asia Pacific region is expected to be the largest and fastest growing immersion cooling fluids market
Asia Pacific is expected to lead the immersion cooling fluids market during the forecast period by value. This demand can be attributed to the high growth in emerging economies such as China and India of the region that has made Asia Pacific a huge market for immersion cooling fluids. China is one of the largest electricity-producing and consuming country. This gives a growing opportunity for effective cooling solutions for power transmission. Adoption of effective cooling, across the region, for data center solution and EV batteries is expected to contribute a major portion to the overall regional demand for immersion cooling fluids market during the forecast period. These factors will propel the market for immersion cooling fluids in Asia Pacific region.
Some of the leading players in this market include Nynas AB (Sweden), Ergon, Inc. (US), PetroChina Company Limited (China), APAR Industries (India), and Sinopec Lubricant Company (China) among others.
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