CHICAGO, July 15, 2021 /PRNewswire/ -- According to the new market research report "Immersion Cooling Marketby Type (Single-Phase And Two-Phase), Application (High-Performance Computing, Edge Computing, Cryptocurrency Mining), Cooling Fluid (Mineral Oil, Synthetic, Fluorocarbon-Based), and Geography – Global Forecast to 2026", published by MarketsandMarkets™, the Immersion Cooling Market is projected to grow from USD 243 million in 2021 to USD 700 million by 2026, at a CAGR of 23.6% from 2021 to 2026. The increasing need for better overlocking potential and growing demand for a compact and noise-free solution is expected to drive the immersion cooling market.
The cryptocurrency mining segment accounted for the largest share in the immersion cooling market.
Based on application, the cryptocurrency mining segment accounted for the largest share in the immersion cooling market. High electricity costs, expensive real estate, and the absence of legacy cooling systems are leading to the adoption of immersion cooling systems in cryptocurrency mining. 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 led the global immersion cooling market during the forecast period.
Based on cooling fluid, the synthetic fluids segment is projected to grow at the highest CAGR from 2021 to 2026. This growth can be attributed to its extensive use in single-phase immersion cooling and its advantages such as efficiency, cooling capacity, and hardware reliability over other fluid types. The shift of mineral oil users toward synthetic fluids due to the corrosive effects of many of the naturally occurring sulfur compounds in mineral oils is also expected to drive the growth of the synthetic fluids segment.
North America accounted for the largest share in the immersion cooling market.
North America is the largest consumer of immersion cooling solutions across the globe due to the presence of many data centers and the rise in the popularity of advanced technologies, such as AI and big data, in the region. Cloud-based computing and big data analytics require highly efficient data storage capabilities. Moreover, the increase in the demand for green initiatives for ecological data center solutions and substantial growth in rack density have fueled the growth of the North American data center immersion cooling market. The presence of technology giants, such as Google, Microsoft, Facebook, and Apple, add to the growth of the North American data center immersion cooling market.
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), TK-SVYAZ (Russia) and TIEMMERS (Netherlands) are some of the players operating in the immersion cooling market.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.