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. Increasing server rack density & chip density, new use cases, such as harsh edge computing environments, and pressure to reduce energy consumption during data center cooling is expected to drive the immersion cooling market.

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Cryptocurrency is a disruptive concept that is an alternative to fiat currency used in the present monetary system. Entrepreneurs, start-ups, as well as large and Small & Medium-sized Enterprises (SMEs), are taking an interest in cryptocurrency and find it a revolutionary concept to counter transactional compliances.

Owing to these factors, the ecosystem has attracted extensive venture funding, collaborations, and partnerships among cryptocurrency solution vendors to provide end-to-end solutions. The high potential for growth in countries, such as China, Japan, India, and Germany make this market highly competitive.

Based on cooling fluid type, the synthetic oils segment of the immersion cooling market is projected to grow at a higher CAGR from 2019 to 2024 in terms of value. Companies such as Green Revolution Cooling Inc. (US), Midas Green Technologies (US), Submer Technologies (Spain), DCX – The Liquid Cooling Company (Poland), Iceotope Technologies Limited (UK), Allied Control Ltd. (Hong Kong), and LiquidCool Solutions (US) are the major users of synthetic oils for their immersion cooling systems.

The mineral oil segment is estimated to account for the second-largest share in the immersion cooling market in 2019. The major reason fueling the growth of synthetic oils and hindering the growth of mineral oils is that all industry leaders in the immersion cooling market have moved away from mineral oil to synthetic oil products as they offer the best combination of low cost, material compatibility, and long life.

Based on type, the immersion cooling market has been segmented into single-phase and two-phase
The single-phase type segment is expected to lead the market and is projected to grow at the higher CAGR during the forecast period. The demand for single-phase immersion cooling is expected to continue to rise as it is cheaper to install and is more energy-efficient. Greater awareness of consumers of the trade-offs between single-phase and two-phase immersion is expected to lead to the increasing demand for single immersion cooling during the forecast period.

North America is projected to lead the immersion cooling market during the forecast period, in terms of value
North America is estimated to be the largest market for immersion cooling in 2019. US and Canada are the major consumers of immersion cooling in this region.

This high demand is mainly attributed to the growing demand for immersion cooling from application segments, such as high-performance computing, cryptocurrency mining, edge computing, artificial intelligence, and cloud computing, among others. As the chip densities are growing, data centers are facing severe problems related to cooling, and hence, they are adopting immersion cooling as it offers the required solution for high-density data centers.

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Key Market Players

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.

These players have adopted the expansions, new product developments, partnerships, and collaborations strategies to enhance their positions in the market.

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