The report "Immersion Cooling Market by Type (Single-Phase and Two-Phase), Application (High-Performance Computing, Edge Computing, Cryptocurrency Mining), Cooling Fluid, Components (Solutions, Services), and Geography - Global Forecast to 2030", Immersion cooling market size is projected to reach USD 1,710 million by 2030 from USD 302 million in 2022 growing at a CAGR of 24.2%.
Browse 163 market data Tables and 46 Figures spread through 241 Pages and in-depth TOC on "Immersion Cooling Market by Type (Single-Phase and Two-Phase), Application (High-Performance Computing, Edge Computing, Cryptocurrency Mining), Cooling Fluid, Components (Solutions, Services), and Geography - Global Forecast to 2030"
The market for immersion cooling has generated significant in the past couple of years and as a result the market has been experiencing significant growth. Initially, the market was propelled by demand for immersion cooling of cryptocurrency mining machines. These equipment generate tremendous heat due to high processing power. Hence, efficient cooling was necessary for machines so that processing power could be maintained. Immersion cooling systems provided an optimal solution in terms of heat dissipation efficiency. As the immersion cooling technology evolved, companies found new avenues wherein immersion cooling solutions could be provided. Today, immersion cooling technology is proving to be vital for cooling of high compute power servers used predominantly in applications such as high-performance computing, edge computing, and artificial intelligence.
The cryptocurrency mining segment will hold larger share of the immersion cooling market during the forecast period.
Cryptocurrency valuation started to increase in the second half of 2020. However, it was in 2021 when the valuation skyrocketed. This development led to an increased demand of cryptocurrency mining machines for personal and business use. However, cryptocurrency mining machines can only function at full efficiency at temperatures between 15-35 ◦C. This resulted in an increased interest in immersion cooling technology as it provides the most cost-effective way to get the maximum hash rate from any ASIC- or GPU-based cryptocurrency miner. Today, 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.
The synthetic fluids segment likely to hold larger share of the immersion cooling market during the forecast period.
Synthetic fluids are coolants distilled and modified from crude oil but do not contain sulfur, metals, or other impurities. These type of fluids include synthetic oils, synthetic blends, and synthetic esters. These fluids provide optimal heat conductivity, high flash points, negligible water content, strong dielectric properties, low odor, and long-term stability. Moreover, synthetic fluids overcome major disadvantages such as corrosiveness and flammability. As a result, a majority of companies opting for immersion cooling solutions are seen to prefer synthetic fluids over other fluids. This trend is expected to continue during the forecast period as they are reliable and offer high dissipation capacity.
The single-phase immersion cooling segment is expected to grow at the highest CAGR during the forecast period.
In single-phase immersion cooling systems, the phase of the liquid coolant (fluid) in the liquid state throughout the cooling process. Heat generated by the IT components is directly absorbed by the fluid, which then becomes warmer. The temperature of the warm fluid can be reduced by using a heat exchanger which is also a part of the single-phase immersion cooling system. Moreover, single-phase systems offer zero to negligible fluid loss during the period of operation. This is beneficial as the overall maintenance cost and downtime for fluid refilling is substantially reduced. The overall PUE of single-phase systems is also greater than two-phase systems, making them ideal for high compute operations. These factors are expected to contribute to the market growth.
The solutions segment is likely to hold larger share of the immersion cooling market during the forecast period.
Immersion cooling technology can be broadly classified into solutions and services. The solutions segment accounts for all the equipment necessary to build an immersion cooling system. Critical equipment such as immersion tanks, tubings, connectors, pumps, heat exchangers and other auxiliaries are included in the scope of this segment. As practical scability and technology evolves, it is expected that the demand for immersion cooling solutions will also increase during the forecast period. Hence, demand for equipment critical to working of immersion cooling solutions is also expected to increase during the forecast period.
North America likely to hold larger share in the immersion cooling market during the forecast period.
The North America region has the largest installations of data centers based on capacity. The US also accounts for presence of technology giants such as Google, Microsoft, Facebook, Apple and many more data intensive firms. Companies such as Microsoft, Dell Technologies, and Intel are already experimenting with immersion cooling technology albeit at a smaller scale. Recently, data intensive firms have also come under scrutiny for building data centers in remote areas of Texas. These data centers have air cooling technology in place for cooling servers, and the electricity generated for operating these air coolers is through hydro power. This has affected the water consumption of the local population leading to drought like conditions. Immersion cooling systems consume lower electricity than air cooled data centers and hence have been touted as being more environmental friendly. North America is also home to a majority of immersion cooling solutions providers such as Green Revolution Cooling and dielectric coolant fluid manufacturers such as 3M. As a result, the market in this region is expected to lead during the forecast period.
A few of the key players in the immersion cooling market are 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) and TIEMMERS (Netherlands), TMGcore, Inc. (US), GIGA-BYTE Technology Co., Ltd. (Taiwan), Wiwynn (Taiwan), Hypertec (Canada), TAS (US), and Delta Power Solutions (Taiwan).
