CHICAGO, Aug. 19, 2019 /PRNewswire/ -- According to the new market research report "Immersion Cooling Market by Type (Single-Phase and Two-Phase), Application (High Performance Computing, Edge Computing, Cryptocurrency Mining), Cooling Fluid Type (Mineral Oil, Synthetic Oil, Fluorocarbon Based), Geography - Global Forecast to 2024", published by MarketsandMarkets™, the Immersion Cooling Market is projected to grow from USD 177 million in 2019 to USD 501 million by 2024, at a CAGR of 23.2% from 2019 to 2024. The increasing server rack density and growing need for eco-friendly and cost-effective data center cooling solutions is expected to drive the immersion cooling market during the forecast period.
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The single-phase immersion cooling type segment is projected to lead the global immersion cooling market during the forecast period
Based on type, the single-phase immersion cooling market is projected to grow at the highest CAGR from 2019 to 2024. In single-phase immersion cooling, the fluid has a higher boiling point and remains in the liquid phase throughout the cooling process. Electronic equipment is submerged in a non-conductive liquid bath in an accessible, sealed enclosure. Pumps are used to direct the heated fluid to a heat exchanger, where it is cooled and recycled back into the bath without any loss of fluid. Single-phase immersion has been recognized as the next-generation cooling technology by all the major immersion cooling manufacturers, as it has proven to be low-cost and highly reliable. Most of the hyperscalers and cryptocurrency miners have adopted single-phase immersion cooling, thus fueling the growth of this segment during the forecast period.
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The high performance computing segment is projected to lead the immersion cooling market during the forecast period
Based on application, the High Performance Computing (HPC) segment of the immersion cooling market is projected to grow at a higher CAGR during the forecast period. The adoption of HPC is gaining traction, as enterprises across various industry verticals are focusing on scaling-up their complex applications. HPC enables scientists and engineers to solve complex, compute-intensive problems.
Some of the benefits of HPC include high network performance, fast storage, large volume of memory, and very high compute capabilities. Thus, HPC enables organizations to develop new, innovative products and services to maintain a competitive edge in the market. The costs and logistics of conventional cooling become more challenging as server racks become denser thermally. These difficulties are faced in HPC where the systems can be twice or thrice denser. This encourages HPC customers to switch from traditional cooling methods to immersion cooling solutions, thus, driving the growth of the market during the forecast period.
The immersion cooling market in the Asia Pacific is projected to grow at the highest CAGR during the forecast period
The Immersion Cooling Market in the Asia Pacific is projected to grow at the highest CAGR from 2019 to 2024. China, India, Japan, and South Korea are key countries contributing to the increased demand for immersion cooling in this region. The increasing adoption of immersion cooling in applications, such as high performance computing, cryptocurrency mining, edge computing, especially in China, Japan and India is expected to drive the immersion cooling market in the Asia Pacific region during the forecast period.
Fujitsu Limited (Japan), Green Revolution Cooling Inc. (US), Submer Technologies (Spain), Allied Control Ltd. (Hong Kong), Asperitas (The Netherlands), Midas Green Technologies (US), Iceotope Technologies Limited (UK), DCX – The Liquid Cooling Company (Poland), LiquidCool Solutions (US), DownUnder GeoSolutions Pty Ltd. (The Netherlands), ExaScaler Inc. (Japan), and Horizon Computing Solutions (France) are some of the leading players operating in the immersion cooling market.
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