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Global Immersion Cooling Market Size Study, By Product (Single-phase, Two-phase), By Application (High-performance Computing, Edge Computing, Cryptocurrency Mining, Artificial Intelligence), By Cooling Liquid (Mineral Oil, Fluorocarbon-based Fluids, Deion

Publisher Factview Research
Published Oct 03, 2025
Length 285 Pages
SKU # FAVR20464156

Description

The global immersion cooling market was valued at approximately USD 286.754 million in 2024 and is projected to grow at a CAGR of 24.8% over the forecast period 2025-2034. The surge in data center establishments, cryptocurrency mining, and artificial intelligence (AI) applications has propelled the demand for efficient cooling solutions, positioning immersion cooling as a preferred technology for high-performance computing environments.

Immersion cooling technology, which submerges electronic components in dielectric liquids, significantly enhances energy efficiency and reduces operational costs. The adoption of single-phase and two-phase immersion cooling is rising, as businesses seek to improve Power Usage Effectiveness (PUE) while ensuring hardware longevity. Reports from the International Energy Agency (IEA) indicate that data centers currently consume nearly 460 Terawatt hours (TWh) of electricity annually, a figure expected to double by 2026, further necessitating the adoption of liquid-based cooling.

Regulatory frameworks aimed at sustainability and energy efficiency in data centers, such as the European Commission’s Energy Efficiency Directive, are playing a crucial role in promoting immersion cooling solutions. Governments and enterprises alike are investing in energy-efficient cooling, compelling operators to transition from conventional air-based cooling to liquid immersion cooling for better thermal management. Additionally, advancements in fluorocarbon-based fluids and mineral oil-based cooling liquids have improved cooling system reliability, creating lucrative market opportunities.

The cryptocurrency industry’s exponential growth has further driven the demand for immersion cooling systems, given that Bitcoin mining alone consumes approximately 155-172 TWh of electricity annually. Immersion cooling mitigates hardware thermal stress, enhances mining efficiency, and extends GPU and ASIC component lifespan, making it a compelling alternative to air-cooled solutions. As companies scale up mining operations and cloud computing workloads, liquid cooling solutions are anticipated to gain widespread adoption.

Despite the numerous benefits, high initial costs and system complexity remain barriers to adoption. However, technological innovations, including AI-driven cooling optimization, enhanced dielectric liquid formulations, and modular immersion cooling tanks, are expected to mitigate cost concerns. Major industry players are focusing on partnerships and acquisitions to expand market presence and enhance R&D investments. For example, in 2024, Submer announced its expansion into the U.S. market with a new R&D and manufacturing facility in Houston, Texas, to cater to the growing demand for liquid immersion cooling in data centers and HPC environments.

Major Market Players Included in this Report Are:
  • Fujitsu
  • DUG Technology
  • Green Revolution Cooling, Inc.
  • Submer
  • LiquidStack Holding B.V.
  • Midas Immersion Cooling
  • Aecorsis BV
  • DCX POLSKA SP. Z O.O.
  • LiquidCool Solutions
  • STULZ GMBH
  • Asperitas
  • GRC (Green Revolution Cooling)
  • Iceotope Technologies Limited
  • Allied Control Limited
  • Dell Technologies
The Detailed Segments and Sub-segments of the Market are Explained Below:

By Product:
  • Single-phase
  • Two-phase
By Application:
  • High-performance Computing
  • Edge Computing
  • Cryptocurrency Mining
  • Artificial Intelligence
  • Others
By Cooling Liquid:
  • Mineral Oil
  • Fluorocarbon-based Fluids
  • Deionized Water
  • Others
By Region:

North America
  • U.S.
  • Canada
  • Mexico
Europe
  • Germany
  • UK
  • France
  • Italy
  • Netherlands
  • Russia
Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
Latin America
  • Brazil
  • Argentina
Middle East & Africa
  • Saudi Arabia
  • South Africa
Years considered for the study are as follows:
  • Historical Year – 2022
  • Base Year – 2024
  • Forecast Period – 2024 to 2034
Key Takeaways:
  • Market Estimates & Forecast for 10 years (2022-2034)
  • Annualized revenues & regional-level analysis for each market segment
  • Geographical landscape analysis with country-level market insights
  • Competitive landscape with information on major market players
  • Key business strategies & investment recommendations
  • Competitive structure & demand-supply analysis
  • Comprehensive regulatory framework overview impacting market growth

Table of Contents

285 Pages
Chapter 1. Global Immersion Cooling Market Executive Summary
1.1. Global Immersion Cooling Market Size & Forecast (2024-2034)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Product
1.3.2. By Application
1.3.3. By Cooling Liquid
1.4. Key Trends
1.5. Recession Impact
1.6. Industry Metrics
1.7. Investment Analysis
1.8 .Investment Rationale
1.9. Analyst Recommendation & Conclusion
Chapter 2. Global Immersion Cooling Market Definition and Research Assumptions
2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
2.3.1. Inclusion & Exclusion
2.3.2. Limitations
2.3.3. Supply Side Analysis
2.3.3.1. Availability
2.3.3.2. Infrastructure
2.3.3.3. Regulatory Environment
2.3.3.4. Market Competition
2.3.3.5. Economic Viability (Consumer’s Perspective)
2.3.4. Demand Side Analysis
2.3.4.1. Regulatory Frameworks
2.3.4.2. Technological Advancements
2.3.4.3. Environmental Considerations
2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates
Chapter 3. Global Immersion Cooling Market Dynamics
3.1. Market Drivers
3.1.1. Increasing demand for energy-efficient data centers
3.1.2. Expansion of high-performance computing (HPC) applications
3.1.3. Rising adoption of cryptocurrency mining
3.2. Market Challenges
3.2.1. High initial investment and deployment costs
3.2.2. Limited awareness and slow adoption in small and medium enterprises
3.3. Market Opportunities
3.3.1. Advancements in cooling liquid technologies
3.3.2. Government initiatives for green and sustainable data centers
3.3.3. Growing AI and edge computing workloads
Chapter 4. Global Immersion Cooling Market Industry Analysis
4.1. Porter’s Five Forces Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s Five Forces Model
4.1.7. Porter’s Five Forces Impact Analysis
4.2. PESTEL Analysis
4.2.1. Political
4.2.2. Economic
4.2.3. Social
4.2.4. Technological
4.2.5. Environmental
4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Immersion Cooling Market Size & Forecasts by Product (2024-2034)
5.1. Segment Dashboard
5.2. Global Immersion Cooling Market: Product Revenue Trend Analysis, 2022 & 2032 (USD Million)
5.2.1. Single-phase
5.2.2. Two-phase
Chapter 6. Global Immersion Cooling Market Size & Forecasts by Application (2024-2034)
6.1. Segment Dashboard
6.2. Global Immersion Cooling Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Million)
6.2.1. High-performance Computing
6.2.2. Edge Computing
6.2.3. Cryptocurrency Mining
6.2.4. Artificial Intelligence
6.2.5. Others
Chapter 7. Global Immersion Cooling Market Size & Forecasts by Cooling Liquid (2024-2034)
7.1. Segment Dashboard
7.2. Global Immersion Cooling Market: Cooling Liquid Revenue Trend Analysis, 2022 & 2032 (USD Million)
7.2.1. Mineral Oil
7.2.2. Fluorocarbon-based Fluids
7.2.3. Deionized Water
7.2.4. Others
Chapter 8. Global Immersion Cooling Market Size & Forecasts by Region (2024-2034)
8.1. North America Immersion Cooling Market
8.1.1. U.S. Immersion Cooling Market
8.1.1.1. Product breakdown size & forecasts, 2022-2032
8.1.1.2. Application breakdown size & forecasts, 2022-2032
8.1.2. Canada Immersion Cooling Market
8.1.3. Mexico Immersion Cooling Market
8.2. Europe Immersion Cooling Market
8.2.1. Germany Immersion Cooling Market
8.2.2. U.K. Immersion Cooling Market
8.2.3. France Immersion Cooling Market
8.2.4. Italy Immersion Cooling Market
8.2.5. Netherlands Immersion Cooling Market
8.2.6. Russia Immersion Cooling Market
8.3. Asia-Pacific Immersion Cooling Market
8.3.1. China Immersion Cooling Market
8.3.2. India Immersion Cooling Market
8.3.3. Japan Immersion Cooling Market
8.3.4. South Korea Immersion Cooling Market
8.3.5. Australia Immersion Cooling Market
8.4. Latin America Immersion Cooling Market
8.4.1. Brazil Immersion Cooling Market
8.4.2. Argentina Immersion Cooling Market
8.5. Middle East & Africa Immersion Cooling Market
8.5.1. Saudi Arabia Immersion Cooling Market
8.5.2. South Africa Immersion Cooling Market
Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Fujitsu
9.1.2. DUG Technology
9.1.3. Green Revolution Cooling, Inc.
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Fujitsu
9.3.1.1. Key Information
9.3.1.2. Overview
9.3.1.3. Financial (Subject to Data Availability)
9.3.1.4. Product Summary
9.3.1.5. Market Strategies
9.3.2. DUG Technology
9.3.3. Green Revolution Cooling, Inc.
9.3.4. Submer
9.3.5. LiquidStack Holding B.V.
9.3.6. Midas Immersion Cooling
9.3.7. Aecorsis BV
9.3.8. DCX POLSKA SP. Z O.O.
9.3.9. LiquidCool Solutions
9.3.10. STULZ GMBH
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes

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