(IT-NEWSWIRE.COM, January 16, 2023 ) The global Immersion Cooling Market is projected to grow from USD 302 million in 2022 to USD 1,710 million by 2030, at a CAGR of 24.2% from 2022 to 2030. Growing density of servers, new IT use cases including harsh edge computing environments, and need to reduce energy consumption in data center cooling is expected to fuel growth of the immersion cooling market over the next few years.
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Changing IT equipment technology requirement has always driven the development of new infrastructure solutions. Liquid cooling has been deploying for several years in mainframes and high-performance computing (HPC). The emergence of today’s technologies such as cloud, IoT, AI, cryptocurrency mining, and edge applications are resulting in IT technology changes. This need for new technological requirement is forcing innovation in liquid cooling, specifically immersion cooling and the development of new technologies. Increased focus on data center energy efficiency and sustainability is also placing an increased pressure on the data center industry to develop and adopt efficient cooling infrastructure like liquid immersion cooling.
Based on application, the immersion cooling market is classified into high-performance computing, edge computing, artificial intelligence, and cryptocurrency mining, among others. Among the various applications, the cryptocurrency mining segment is expected to grow at the fastest rate during the forecasted period, driven by the increasing usage of immersion cooling by small and large crypto miners. This growth can be attributed to the high adoption rate of immersion cooling by the cryptocurrency miners across countries namely the US, Germany, the UK, the UAE, and Saudi Arabia, among other. Manufacturers of immersion cooling solutions are investing heavily in R&D to develop new solutions that will be suitable for the growing server densities and efficient energy consumption.
Based on type, the immersion cooling market has been segmented into single-phase immersion cooling and two-phase immersion cooling. The single-phase segment is projected to have the largest market share during the forecast period. High demand from the cryptocurrency miners is expected to drive the single-phase immersion cooling segment during the forecast period. Single-phase immersion cooling systems involve the use of cooling fluids as a submersion liquid. The heat generated is directly absorbed by the liquid, which in turn increases the temperature and becomes warmer. However, the liquid does not change phase and remains in the same state. Single-phase immersion cooling systems has low maintenance and has a long lifespan. These solutions are, therefore, gaining demand from data center vendors that utilize servers for a shorter time span.
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Based on fluid type, the immersion cooling market has been segmented into mineral oil, fluorocarbon-based fluids, synthetic fluids, and others. Synthetic fluids segment has been projected to have the largest market share and is the fastest growing in the forecast period. Synthetic fluids offer low cost, good material compatibility and long life which makes it a sustainable solution as a fluid in immersion cooling solution. Use of synthetic fluid in single-phase immersion cooling solution also is expected to drive the demand in the market.
Based on components, the immerison cooling market has been segmented into solutions and services segments. Solutions include different components of immersion cooling systems such as tanks, compressors, tubing, and heat exchangers. Various vendors offer these components used to build immersion cooling systems. Solutions segment is projected to have the largest market share and is expected to be the fastest growing segment in the market.
Asia Pacific, North America, Europe, South America and Middle East & Africa are considered for regional markets analysis for immersion cooling. The Asia Pacific market is expected to witness the fastest growth in the forecast period. The market in this region is experiencing increasing adoption of immersion cooling in all application segments of the respective market. The market in China is expected to grow at the highest CAGR in the Asia Pacific region during the forecast period due to increasing adoption of immersion cooling by different application segments such as high-performance computing, cryptocurrency mining, and artificial intelligence, among others.
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).
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