logo image
search icon
Immersion Cooling Fluids Market

Immersion Cooling Fluids Market for EVs Market Size, Share & Trends Analysis Report By Vehicle Type (passenger vehicles, light commercial vehicles, and heavy commercial vehicles), Propulsion Type (Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs), and Plug-in Hybrid Electric Vehicles (PHEVs)), Application (EV Batteries, EV Motors, and Power Electronics), Product Type And Chemistry, Region And Segment Forecasts, 2023-2031

Report ID : 1805 | Published : 2023-05-12 | Pages: 180 | Format: PDF/EXCEL

The Global Immersion Cooling Fluids Market for EVs Size is valued at 280.50 million in 2022 and is predicted to reach 2,624.52 million by the year 2031 at a 28.37% CAGR during the forecast period for 2023-2031.

Immersion cooling fluids employed in electric vehicles are technologically improving and are predicted to expand quicker during the projection period. Ongoing research and development operations in the manufacture of high-performance immersion cooling fluids are likely to promote key market development activities.

Immersion Cooling Fluids Market

The global immersion cooling fluids market for Electric Vehicles (EVs) is still developing. The market for immersion cooling fluids is being driven by a rising fleet of electric vehicles. Thus, the global immersion cooling fluids market for EVs is predicted to grow significantly during the forecast period.

However, due to the COVID-19 lockout, large industries began to rethink their previous market outlook. Because of the economic difficulties, worldwide petroleum prices have fallen, resulting in EVs having a greater ownership cost than conventional vehicles.

However, there has been encouraging news about EV adoption among new customers and people, owing to increased awareness about emission management. Governments throughout the world are dedicated to implementing EV sales incentives and are concentrating on new and ambitious EV policies. 

Competitive Landscape:

Some of the Immersion Cooling Fluids Market for EVs Players are:

  • FUCHS
  • The Lubrizol Corporation
  • 3M
  • Castrol Limited
  • M&I Materials Ltd.
  • Engineered Fluids
  • Shell plc
  • TotalEnergies SE
  • Cargill Incorporated
  • Dober
  • LANXESS
  • XING Mobility
  • MAHLE GmbH
  • Kreisel Electric
  • E-MERSIV
  • Tesla Inc.
  • Volkswagen AG
  • SAIC Motors
  • BYD Co. Ltd.
  • Stellantis N.V.
  • General Motors
  • Ford Motor Company
  • Hyundai Motor Company
  • Honda Motor Co., Ltd.
  • Groupe Renault
  • Toyota Motor Corporation
  • Bayerische Motoren Werke (BMW) AG

Market Segmentation:

The Immersion Cooling Fluids Market for EVs is categorized on the basis of vehicle type, propulsion type, application, product type, and chemistry. Propulsion type includes Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs), and Plug-in Hybrid Electric Vehicles (PHEVs). The vehicle type segment includes passenger vehicles, light commercial vehicles, and heavy commercial vehicles. By application, the market is segmented into EV Batteries, EV Motors, and Power Electronics. The product segment includes single-phase coolants and two-phase coolants. Chemistry segment includes mineral oils and synthetic oils and esters. 

Based On Product, The Single-Phase Coolant Segment Is Accounted As A Major Contributor In The Immersion Cooling Fluids Market For EVs

The single-phase coolant category is expected to hold a major share of the global Immersion Cooling Fluids Market for EVs in 2022. Single-phase coolants fulfill a wide range of battery EV performance needs in an effective and efficient manner. According to reports, the products are aimed at the expanding number of automobile manufacturers who are developing EVs. Battery EVs, like ordinary automobiles, require fluids to function. Current lubricants designed for internal combustion engines (ICEs) often fall short of the performance demands of high-tech EV powertrains. As a result, automakers are introducing new revolutionary products.

The Passenger Vehicles Segment Witnessed Growth At A Rapid Rate

The passenger vehicles segment is projected to grow at a rapid rate in the global Immersion Cooling Fluids Market for EVs. Rising government initiatives to provide subsidies for passenger EVs in countries such as Canada, China, and Japan, rapidly increasing EV penetration into the automotive industry, increasing sales volume, particularly for battery-powered vehicles, and increased investment in EV charging solutions are the most prominent factors expected to drive the fastest demand for fluids and lubricants required in Passenger EVs.

In The Region, Europe Immersion Cooling Fluids Market For EVs Holds A Significant Revenue Share

Europe's Immersion Cooling Fluids Market for EVs is expected to register the highest market share in terms of revenue owing to strong EV sales push tactics such as government subsidies of up to 20% of the vehicle's cost in Europe. Companies swiftly realize that they cannot afford to fall behind as European governments, as well as dozens of cities and states, intend to phase out new internal combustion engine (ICE) car sales by 2035. The rapidly growing number of vehicles and worsening traffic congestion in Asia Pacific's main cities have resulted in significant air and noise pollution, needing immediate and comprehensive measures to encourage low-emission autos. These significant reasons are projected to boost the Asia Pacific regional market.

Global Immersion Cooling Fluids Market Report Scope:

Report Attribute

Specifications

Market size value in 2022

USD 280.5 Mn

Revenue forecast in 2031

USD 2624.52 Mn

Growth rate CAGR

CAGR of 28.37 % from 2023 to 2031

Quantitative units

Representation of revenue in US$ Billion, and CAGR from 2023 to 2031

Historic Year

2019 to 2022

Forecast Year

2023-2031

Report coverage

The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends

Segments covered

Vehicle Type, Propulsion Type, Application, Product Type, And Chemistry

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia

Competitive Landscape

FUCHS, 3M, Castrol Limited, M&I Materials Ltd., Shell plc, TotalEnergies SE, Cargill, Incorporated, Dober, LANXESS, SAIC Motors, MAHLE GmbH, Kreisel Electric, E-MERSIV, Tesla Inc., Volkswagen AG, BYD Co. Ltd., Engineered Fluids, Stellantis N.V., General Motors, Ford Motor Company, XING Mobility, Hyundai Motor Company, Groupe Renault, Honda Motor Co., Ltd., The Lubrizol Corporation, Toyota Motor Corporation, and Bayerische Motoren Werke AG.

Customization scope

Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing and available payment methods

Explore pricing alternatives that are customized to your particular study requirements.

Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Immersion Cooling Fluids Market for EVs Market Snapshot

Chapter 4. Global Immersion Cooling Fluids Market for EVs Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Product Type Estimates & Trend Analysis
5.1. by Product Type & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Product Type:

5.2.1. Single-Phase Coolant
5.2.2. Two-Phase Coolant

Chapter 6. Market Segmentation 2: by Vehicle Type Estimates & Trend Analysis
6.1. by Vehicle Type & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Vehicle Type:

6.2.1. Passenger Vehicles
6.2.2. Light Commercial Vehicles
6.2.3. Heavy Commercial Vehicles

Chapter 7. Market Segmentation 3: by Propulsion Type Estimates & Trend Analysis
7.1. by Propulsion Type & Market Share, 2019 & 2031
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Propulsion Type:

7.2.1. Battery Electric Vehicles (BEVs)
7.2.2. Hybrid Electric Vehicles (HEVs)
7.2.3. Plug-in Hybrid Electric Vehicles (PHEVs)

Chapter 8. Market Segmentation 4: by Application Estimates & Trend Analysis
8.1. by Application & Market Share, 2019 & 2031
8.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Application:

8.2.1. EV Batteries
8.2.2. EV Motors
8.2.3. Power Electronics

Chapter 9. Market Segmentation 5: by Chemistry Estimates & Trend Analysis
9.1. by Chemistry & Market Share, 2019 & 2031
9.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Chemistry:

9.2.1. Mineral Oils
9.2.2. Synthetic Oils and Esters

Chapter 10. Immersion Cooling Fluids Market for EVs Market Segmentation 6: Regional Estimates & Trend Analysis

10.1. North America

10.1.1. North America Immersion Cooling Fluids Market for EVs Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2023-2031
10.1.2. North America Immersion Cooling Fluids Market for EVs Market Revenue (US$ Million) Estimates and Forecasts by Vehicle Type, 2023-2031
10.1.3. North America Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Propulsion Type, 2023-2031
10.1.4. North America Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Application, 2023-2031
10.1.5. North America Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Chemistry, 2023-2031
10.1.6. North America Immersion Cooling Fluids Market for EVs Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031

10.2. Europe

10.2.1. Europe Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Product Type, 2023-2031
10.2.2. Europe Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Vehicle Type, 2023-2031
10.2.3. Europe Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Propulsion Type, 2023-2031
10.2.4. Europe Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Application, 2023-2031
10.2.5. Europe Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Chemistry, 2023-2031
10.2.6. Europe Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by country, 2023-2031

10.3. Asia Pacific

10.3.1. Asia Pacific Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Product Type, 2023-2031
10.3.2. Asia Pacific Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Vehicle Type, 2023-2031
10.3.3. Asia-Pacific Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Propulsion Type, 2023-2031
10.3.4. Asia Pacific Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Application, 2023-2031
10.3.5. Asia Pacific Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Chemistry, 2023-2031
10.3.6. Asia Pacific Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by country, 2023-2031

10.4. Latin America

10.4.1. Latin America Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Product Type, 2023-2031
10.4.2. Latin America Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Vehicle Type, 2023-2031
10.4.3. Latin America Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Propulsion Type, 2023-2031
10.4.4. Latin America Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Application, 2023-2031
10.4.5. Latin America Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Chemistry, 2023-2031
10.4.6. Latin America Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by country, 2023-2031

10.5. Middle East & Africa

10.5.1. Middle East & Africa Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Product Type, 2023-2031
10.5.2. Middle East & Africa Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Vehicle Type, 2023-2031
10.5.3. Middle East & Africa Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Propulsion Type, 2023-2031
10.5.4. Middle East & Africa Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Application, 2023-2031
10.5.5. Middle East & Africa Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by Chemistry, 2023-2031
10.5.6. Middle East & Africa Immersion Cooling Fluids Market for EVs Market revenue (US$ Million) by country, 2023-2031

Chapter 11. Competitive Landscape

11.1. Major Mergers and Acquisitions/Strategic Alliances

11.2. Company Profiles


11.2.1. FUCHS
11.2.2. The Lubrizol Corporation
11.2.3. 3M
11.2.4. Castrol Limited
11.2.5. M&I Materials Ltd.
11.2.6. Engineered Fluids
11.2.7. Shell plc
11.2.8. TotalEnergies SE
11.2.9. Cargill Incorporated
11.2.10. Dober
11.2.11. LANXESS
11.2.12. XING Mobility
11.2.13. MAHLE GmbH
11.2.14. Kreisel Electric
11.2.15. E-MERSIV
11.2.16. Tesla Inc.
11.2.17. Volkswagen AG
11.2.18. SAIC Motors
11.2.19. BYD Co. Ltd.
11.2.20. Stellantis N.V.
11.2.21. General Motors
11.2.22. Ford Motor Company
11.2.23. Hyundai Motor Company
11.2.24. Honda Motor Co., Ltd.
11.2.25. Groupe Renault
11.2.26. Toyota Motor Corporation
11.2.27. Bayerische Motoren Werke AG
11.2.28. Other Prominent Players

Segmentation of Immersion Cooling Fluids Market for EVs-

Immersion Cooling Fluids Market for EVs By Propulsion Type-

  • Battery Electric Vehicles (BEVs)
  • Hybrid Electric Vehicles (HEVs)
  • Plug-in Hybrid Electric Vehicles (PHEVs)

Immersion Cooling Fluids Market

Immersion Cooling Fluids Market for EVs By Vehicle Type-

  • Passenger Vehicles
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

Immersion Cooling Fluids Market for EVs By Application

  • EV Batteries
  • EV Motors
  • Power Electronics

Immersion Cooling Fluids Market for EVs By Product Type-

  • Single-Phase Coolant
  • Two-Phase Coolant

Immersion Cooling Fluids Market for EVs By Chemistry

  • Mineral Oils
  • Synthetic Oils and Esters

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of the Middle East and Africa

 InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

user icon
office icon
mail icon
call icon

This website is secure, and we do not share your personal information with any third party. Privacy Policy

Need Customization
Need specific information/chapter from the report of the custom data table, graph or complete report? Tell us more.

Frequently Asked Questions

How big is the Immersion Cooling Fluids Market?

Immersion Cooling Fluids Market expected to grow at a 28.37% CAGR during the forecast period for 2023-2031

FUCHS, 3M, Castrol Limited, M&I Materials Ltd., Shell plc, TotalEnergies SE, Cargill, Incorporated, Dober, LANXESS, SAIC Motors, MAHLE GmbH, Kreisel E

Our Clients

  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo
  • client logo

Media Citations

  • media citation logo
  • media citation logo
  • media citation logo
  • media citation logo
  • media citation logo
  • media citation logo
  • media citation logo
  • media citation logo
  • media citation logo

Growth opportunities and latent adjacency in Chemicals and Materials

Select Licence Type
$4456
$7786
$10000
$1200
Get Your GTM Strategy

Navigate market entry with channel selection, launch strategy & timeline, and pricing model support.

Equip yourself with the insights needed to develop a winning go-to-market strategy

Get real-time updates and joint control over project direction with our collaborative approach