Immersion Cooling Fluids Market: By Cooling Fluid (Mineral Oil, Synthetic Fluids, Fluorocarbon-based Fluids, Others), By Product (Single-phase, Two-phase), By Industry (BFSI, Government, Energy, Manufacturing, Healthcare, IT& Telecommunication, Others) by Application (High-performance Computing, Edge Computing, Cryptocurrency Mining, Artificial Intelligence, Others) and Geography

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Immersion Cooling Fluids Market size was valued at USD 2,189.3 million in 2022 and is poised to grow at a significant CAGR of 8.5% over 2023-2029. Electronic equipment and IT components, such as complete servers and storage devices, are submerged in a thermally conductive but electrically insulating dielectric liquid or coolant during immersion cooling, a thermal management technique frequently employed in IT cooling. Heat is removed from the system by directly contacting the relatively cold liquid with hot components and transferring the heated liquid through excellent heat exchangers. Immersion cooling has recently become a standard method of producing usable heat, especially for bitcoin mining. In a chilly location, one ASIC miner can make ultra-high-efficiency electric heat conversion that is enough to heat an entire house. Based on the cooling fluid, the global immersion cooling fluids market is segmented into Mineral Oil, Synthetic Fluids, Fluorocarbon-based Fluids, and Others.The mineral oil segment is anticipated to grow at a significant CAGR over the forecast years owing to mineral oil is a by-product of refining crude oil to make gasoline and other petroleum products. These mineral oil types are frequently supplied by oil refineries without any additional processing, qualification, or quality control and are mostly made up of alkanes and cycloalkanes. Mineral oil is more effective than conventional air-cooling systems, which facilitates facility design and reduces costs. Since it is clear and oily and has a high boiling point, mineral oil is employed as a single-phase dielectric. The increasing need for sustainable cooling solutions, increasing government initiatives for carbon-neutral and energy-efficient data centers, and high investment with greater capital expenditure are a few factors driving the industry's growth over the forecasting period.

Immersion Cooling Fluids Market Key Developments:
In November 2019 – Asperitas and Green Revolution Cooling collaborated to eliminate the misconceptions about data center immersion cooling. This collaboration educates people about the benefits of high-density applications and enables efficient data center operations. The partnership has developed a new vendor-agnostic website to inform the operators about immersion and technical issues with liquid cooling.

Immersion Cooling Fluids Market Summary

Study Period

2023 – 2029

Base Year




Largest Market

North America

Fastest Growing Market

Asia Pacific
Immersion Cooling Fluids Market Dynamics

As most businesses move their attention from commercial and revenue expansions to sustainable development and the circular economy, nearly every major industry in the world is undergoing tremendous transformations, and many outdated business methods are becoming obsolete. Future projects will use the Environmental, Social, and Governance (ESG) framework, which impacts many business models. This is seen in numerous ESG initiatives around the world. Sustainable data centers have started modernizing their infrastructure, including data center cooling innovations, to reduce water use significantly. They can utilize fewer, longer-lasting batteries because of recent advancements in battery technology. They are also working with regional power providers to develop plans to boost renewable energy usage. This should accelerate the expansion of the market for immersion cooling fluids.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2018 to 2022) and forecast (2023 to 2029)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

Immersion Cooling Fluids Market Segmentation

By Cooling Fluid
  • Mineral Oil
  • Synthetic Fluids
  • Fluorocarbon-based Fluids
  • Others
By Product
  • Single-phase
  • Two-phase
By Application
  • High-performance Computing
  • Edge Computing
  • Cryptocurrency Mining
  • Artificial Intelligence
  • Others 
By Geography
  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • MEA


Frequently Asked Questions

Single-phase and two-phase are the two main types of immersion cooling technologies.

The segments covered in the Immersion Cooling Fluids Market report are based on Cooling Fluid, Product, Industry, and Application.

The North American region is expected to hold the highest share of the Immersion Cooling Fluids Market.

The forecast period for the immersion cooling fluids market is 2023-2029.

  • Alfa Laval AB(Sweden)
  • Liquid Stack Inc. (United States)
  • Asetek AS (United States)
  • Asperitas Company(Netherlands)
  • Chilldyne Inc. (Canada)
  • CoolIT Systems Inc. (Canada)
  • Fujitsu Limited (Japan)
  • Mikros Technologies (United States)
  • Kaori Heat Treatment Co. Ltd (Taiwan)
  • Lenovo group Limited (Hong Kong)
  • Liquid Cool Solutions (United States)
  • Midas Green Technologies (United States)
  • Iceotope Technologies Ltd (United Kingdom)
  • USystems Ltd (United Kingdom)
  • Rittal GmbH & Co. KG(Germany)
  • Schneider Electric (France)
  • Submer Technologies (Spain)
  • Vertiv Co. (United States)
  • Wakefield-Vette Inc. (United States)
  • Wiwynn Corporation (Taiwan)