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Immersion Cooling Market by Type (Single Phase, Two Phase), Application (High-performance Computing, Edge Computing, Cryptocurrency Mining), Cooling Fluid, Component (Solutions, Services), and Region - Global Forecast to 2032

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    Report

  • 236 Pages
  • June 2025
  • Region: Global
  • Markets and Markets
  • ID: 5387775

Adoption in Cryptocurrency Mining & Blockchain

The immersion cooling market is projected to grow from USD 0.57 billion in 2025 to USD 2.60 billion by 2032, registering a CAGR of 24.2%. Enhanced system performance and reduced thermal loads are critical factors in ensuring optimal operational efficiency. Advancements in immersion cooling technologies are making it increasingly feasible to achieve both objectives simultaneously, positioning this approach as a superior alternative to conventional cooling methods.

As a result, the market is witnessing strong growth, driven by the development of next-generation immersion cooling solutions that offer improved thermal management, energy efficiency, and reliability. These technologies are being adopted across a wide range of industries and applications where efficient cooling of electronic components is essential - particularly in high-performance computing (HPC) environments, where heat density and performance demands are exceptionally high. The ability of immersion cooling to maintain system stability, extend hardware lifespan, and support higher compute densities makes it a compelling solution in the evolving landscape of compute-intensive infrastructure.

By type, single-phase to be larger segment of immersion cooling market between 2025 and 2032

Single-phase immersion cooling is projected to be a larger segment of the global immersion cooling market. This dominance is primarily attributed to its proven efficiency in heat dissipation and operational simplicity. The dielectric fluids used in single-phase systems possess high heat capacity and strong thermal conductivity, enabling them to effectively absorb and transfer heat away from electronic components without undergoing a phase change. This consistent thermal performance supports the stable operation of high-performance computing (HPC) systems by maintaining optimal operating temperatures. As a result, single-phase immersion cooling not only enhances system efficiency and reliability but also contributes to extended hardware lifespan. These advantages, coupled with lower maintenance complexity and easier integration into existing infrastructure, continue to drive its widespread adoption across data centers and compute-intensive environments.

By application, high-performance computing to be largest segment of immersion cooling market from 2025 to 2032

The growing adoption of high-performance computing (HPC) is a major catalyst for the rising demand for immersion cooling technologies. As a critical solution within the broader data center cooling ecosystem, immersion cooling addresses the key challenges associated with HPC workloads, including extreme heat dissipation, energy efficiency requirements, environmental sustainability, and the need to support ongoing technological advancements. With traditional air cooling systems approaching their thermal and spatial limitations, immersion cooling is emerging as a more viable and scalable alternative.

The increasing processing density of HPC systems - driven by applications in artificial intelligence, climate modeling, genomics, and complex simulations - demands robust thermal management solutions that conventional methods struggle to deliver. Immersion cooling offers superior thermal efficiency, enabling higher server density, better space utilization, and support for more intensive processor loads. This alignment with performance and sustainability goals accelerates investment and innovation in next-generation cooling technologies across the HPC landscape.

By cooling fluid, synthetic fluids to be largest segment of immersion cooling market from 2025 to 2032

Synthetic fluids are expected to dominate the immersion cooling market due to their superior thermal performance and contribution to enhanced energy efficiency. These engineered dielectric fluids typically offer significantly better heat transfer properties compared to traditional cooling media, making them well-suited for high-density computing environments.

By effectively absorbing and dissipating heat from electronic components, synthetic fluids enable data centers to optimize cooling efficiency, reduce energy consumption, and lower overall operational costs. Their consistent thermal stability, extended service life, and compatibility with sensitive IT hardware further strengthen their position as the preferred choice in next-generation immersion cooling systems. As energy efficiency and sustainability become critical priorities for data center operators, the adoption of synthetic fluids is anticipated to accelerate, driving growth and innovation across the global immersion cooling landscape.

North America immersion cooling market to exhibit highest growth during forecast period

North America is projected to remain the most significant regional market for immersion cooling throughout the forecast period, driven by strong commitments to sustainability, energy efficiency, and technological innovation. As data centers across the region face increasing pressure to reduce their environmental footprint and optimize energy use, immersion cooling presents a compelling solution.

By submerging IT hardware directly in thermally conductive dielectric fluids, immersion systems eliminate reliance on traditional air-based cooling, significantly lowering energy consumption and operational costs. These efficiency gains align closely with North America’s broader initiatives around green data center practices and carbon reduction goals. The region’s advanced digital infrastructure, early adoption of high-performance computing, and favorable regulatory landscape further reinforce its position at the forefront of immersion cooling adoption.

Profile break-up of primary participants for report:

  • By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
  • By Designation: C-level Executives - 60%, Directors - 20%, and Others - 20%
  • By Region: North America - 30%, Europe - 30%, Asia Pacific - 30%, South America - 5%, and Middle East & Africa - 5%
The immersion cooling market report is dominated by LiquidStack (Netherlands), Green Revolution Cooling Inc (US), Submer (Spain), Asperitas (Netherlands), Midas Green Technologies (US), Iceotope Technologies Ltd (US), LiquidCool Solutions (US), DUG Technology (Australia), DCX Liquid Cooling Systems (Poland), Vertiv Group Corp (US), Kaori Heat Treatment Co., Ltd (Taiwan), BOYD (US), and GIGA-BYTE Technology Co., Ltd. (Taiwan).

Research Coverage

The report defines, segments, and projects the size of the immersion cooling market based on application, type, cooling fluid, component, and region. It strategically profiles the key players and comprehensively analyzes their market share and core competencies. It also tracks and analyzes competitive developments such as expansions, product launches, partnerships, collaborations, agreements, and joint ventures they undertake in the market.

The report also comprehensively reviews market drivers, restraints, opportunities, and challenges in the immersion cooling market. It covers qualitative aspects in addition to the quantitative aspects of these markets.

Reasons to Buy Report

The report is expected to help the market leaders/new entrants by providing them with the closest approximations of revenue numbers of the immersion cooling market and its segments. This report is also expected to help stakeholders understand the market’s competitive landscape better, gain insights to improve the position of their businesses and make suitable go-to-market strategies. It will enable stakeholders to understand the market’s pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.

Report provides insights into following points:

  • Analysis of key drivers (Adoption in cryptocurrency mining and blockchain technology, Growing density of servers, rising need for eco-friendly data center cooling solutions, and increasing demand for compact and noise-free cooling solutions), restraints (Susceptibility to leakage and preference for air cooling technology), opportunities (Adoption in low-density data servers, emergence of AI, high-performance electronics, telecom, and other technologies, development of cooling solutions for deployment in harsh environments, high-density cooling requirements), and challenges (High investment in existing infrastructure and retrofitting immersion cooling solutions in large- and medium-scale data centers) influencing the growth of the immersion cooling market.
  • Product Development/Innovation: Detailed insights into upcoming technologies, research & development activities, and product & service launches in the immersion cooling market.
  • Market Development: Comprehensive information about lucrative markets - the report analyses the immersion cooling market across several regions.
  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the immersion cooling market.
  • Competitive Assessment: In-depth assessment of the market shares, growth strategies, and service offerings of leading and other players in the immersion cooling market.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Market Scope and Segmentation
1.3.1 Immersion Cooling Market, Inclusions and Exclusions
1.3.2 Immersion Cooling Market Segmentation and Regional Scope
1.3.3 Years Considered
1.3.4 Currency Considered
1.4 Stakeholders
1.5 Summary of Changes
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data from Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data from Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Interviews with Experts
2.1.2.4 Primary Participants
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Calculation of Base Market Size
2.3.1 Supply-Side Approach
2.3.2 Demand-Side Approach
2.4 Data Triangulation
2.5 Growth Rate Assumptions/Growth Forecast
2.6 Assumptions
2.7 Limitations and Risk Assessment
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for Players in Immersion Cooling Market
4.2 Immersion Cooling Market, by Region
4.3 North America Immersion Cooling Market, by Application and Country
4.4 Immersion Cooling Market, by Major Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Adoption in Cryptocurrency Mining and Blockchain
5.2.1.2 Growing Density of Servers
5.2.1.3 Increasing Need for Eco-Friendly Data Center Cooling Solutions
5.2.1.4 Rising Need for Cost-Effective Cooling Solutions
5.2.1.5 Increasing Demand for Compact and Noise-Free Solutions
5.2.2 Restraints
5.2.2.1 Susceptibility to Leakage
5.2.2.2 Dominance of Air Cooling Technology
5.2.3 Opportunities
5.2.3.1 Adoption in Low-Density Data Centers
5.2.3.2 Emergence of AI, High-Performance Electronics, Telecom, and Other Technologies
5.2.3.3 Development of Cooling Solutions for Deployment in Harsh Environments
5.2.3.4 High-Density Cooling Requirements
5.2.4 Challenges
5.2.4.1 Significant Investments in Existing Infrastructure
5.2.4.2 Retrofitting Immersion Cooling Solutions in Large and Medium-Scale Data Centers
5.3 Porter's Five Forces Analysis
5.3.1 Bargaining Power of Suppliers
5.3.2 Bargaining Power of Buyers
5.3.3 Threat of Substitutes
5.3.4 Threat of New Entrants
5.3.5 Intensity of Competitive Rivalry
5.4 Key Stakeholders and Buying Criteria
5.4.1 Key Stakeholders in Buying Process
5.4.2 Buying Criteria for Cryptocurrency Mining
5.5 Buying Criteria
5.6 Trends/Disruptions Impacting Customers’ Businesses
5.7 Pricing Analysis
5.7.1 Average Selling Price Trend of Key Players, by Type, 2024
5.7.2 Average Selling Price Trend, by Region, 2020-2030
5.8 Supply Chain Analysis
5.9 Ecosystem/Market Map
5.10 Technology Analysis
5.10.1 Single-Phase
5.10.1.1 IT Chassis
5.10.1.2 Single-Phase Tub/Open Bath
5.10.2 Two-Phase
5.10.2.1 Two-Phase Tub/Open Bath
5.10.3 Hybrid
5.11 Patent Analysis
5.11.1 Methodology
5.12 Investment and Funding Scenario
5.13 Trade Data
5.13.1 Import Scenario (HS Code 271019)
5.13.2 Export Scenario (HS Code 271019)
5.14 Impact of AI/Gen AI on Data Center Liquid Cooling Market
5.14.1 Top Use Cases and Market Potential
5.14.2 Best Market Practices
5.15 Key Conferences and Events, 2025-2026
5.16 Regulatory Landscape
5.16.1 Open Compute Project (Ocp) - Quality & Safety Requirements for Immersion Cooling Technology
5.16.2 Open Compute Project (Ocp) - Dielectric Cooling Fluid Requirements for Data Center Applications
5.16.3 Immersion Cooling Technology - Country/Regional Regulations
5.16.3.1 US
5.16.3.2 Europe
5.16.3.2.1 China
5.16.3.2.2 Japan
5.16.3.2.3 India
5.16.4 Regulatory Bodies, Government Agencies, and Other Organizations
5.17 Marketing Channels Used by Immersion Cooling Solution Providers: Comparative Analysis
5.17.1 B2B Marketing Channels - Comparative Analysis
5.18 Partners of Immersion Cooling Companies
5.18.1 Partnerships
5.19 Total Cost of Ownership
5.20 Case Study Analysis
5.20.1 Asperitas and Itrenew Partner to Bring Sustainable, Plug-And-Play Data Center Solution Full Circle
5.20.2 Dug Reduced Energy Spending in Data Center by Adopting Grc's Immersion Cooling Technology
5.20.3 Microsoft Chose Immersion Cooling Technology by Liquidstack for Its Cloud Servers
5.20.4 Bitfury Group Enhances Data Center Cooling Efficiency Using 3M's Engineered Fluids
5.20.5 Macquarie Telecom Group to Deploy Submer's Immersion Cooling Solutions at Its Data Centers
5.20.6 Ntt Data Corporation to Adopt Liquidstack's Two-Phase Immersion Cooling Solutions at Its Data Centers
5.21 Global Macroeconomic Outlook
5.21.1 GDP
5.22 Impact of 2025 US Tariff- Immersion Cooling Market
5.22.1 Introduction
5.22.2 Key Tariff Rates Impacting Market
5.22.3 Price Impact Analysis
5.22.4 Key Impact on Various Regions/Countries
5.22.4.1 US
5.22.4.2 Europe
5.22.4.3 Asia-Pacific
5.22.5 Impact on Applications
6 Immersion Cooling Market, by Type
6.1 Introduction
6.2 Single-Phase Immersion Cooling
6.2.1 Demand for Efficient Cooling and Low Maintenance to Drive Market
6.3 Two-Phase Immersion Cooling
6.3.1 Fluid Loss to be Primary Concern
7 Immersion Cooling Market, by Application
7.1 Introduction
7.2 High-Performance Computing
7.2.1 Demand for Solving Complex Compute-Intensive Problems to Drive Market
7.3 Edge Computing
7.3.1 Significant Increase in Number of Intelligent Applications to Boost Market
7.4 Artificial Intelligence
7.4.1 Digital Transformation of Companies to Propel Market
7.5 Cryptocurrency Mining
7.5.1 High Potential for Growth to Fuel Demand
7.6 Other Applications
8 Immersion Cooling Market, by Component
8.1 Introduction
8.2 Solutions
8.2.1 Growing Demand for High-Density Server Cooling to Drive Market
8.3 Services
8.3.1 Increasing Adoption of Customized Services to Boost Market
9 Immersion Cooling Market, by Cooling Fluid
9.1 Introduction
9.2 Synthetic Fluids
9.2.1 Low Corrosion and Flammability to Fuel Demand
9.3 Mineral Oil
9.3.1 Inexpensive, Non-Toxic, and Low Corrosion to Drive Growth
9.4 Fluorocarbon-based Fluids
9.4.1 Increasing Demand in High-Performance Liquid Cooling Applications to Boost Growth
9.5 Other Cooling Fluids
10 Immersion Cooling Market, by Region
10.1 Introduction
10.2 Asia-Pacific
10.2.1 China
10.2.1.1 Rise in Number of Data Centers to Drive Market
10.2.2 India
10.2.2.1 Surging Demand from Data Centers to Boost Market
10.2.3 Japan
10.2.3.1 Redesigning Existing Data Center Facilities to Drive Market
10.2.4 South Korea
10.2.4.1 Advancements in AI and Cryptocurrency Mining to Drive Market
10.2.5 Thailand
10.2.5.1 Expansion of Digital Hardware Infrastructure to Fuel Market
10.2.6 Malaysia
10.2.6.1 Rapid Cloud Service Adoption to Fuel Market
10.2.7 Rest of Asia-Pacific
10.3 Europe
10.3.1 Germany
10.3.1.1 Attractive Investments and Growth of Data Centers to Boost Market
10.3.2 France
10.3.2.1 Rising Demand for Immersion Cooling from Cloud Providers to Drive Market
10.3.3 Netherlands
10.3.3.1 Use of Green Energy for Data Centers to Propel Market
10.3.4 UK
10.3.4.1 New Eco-Design Requirements Set by European Parliament for Servers and Data Centers to Drive Market
10.3.5 Russia
10.3.5.1 Growing Demand for Computing Resources and Data Storage Systems to Drive Market
10.3.6 Spain
10.3.6.1 Innovations in Cloud Computing to Boost Demand for Data Center Solutions
10.3.7 Rest of Europe
10.4 North America
10.4.1 US
10.4.1.1 Surging Demand from Cryptocurrency Providers to Drive Market
10.4.2 Canada
10.4.2.1 Increasing Digitalization and Massive Data Generation to Boost Market
10.4.3 Mexico
10.4.3.1 Big Data and Automation Technologies to Fuel Growth
10.5 Middle East & Africa
10.5.1 Saudi Arabia
10.5.1.1 Harsh Climatic Conditions and Government-Backed Digital Transformation Initiatives to Drive Market
10.5.2 UAE
10.5.2.1 Sustainability and Hyperscale Growth to Boost Market
10.5.3 Rest of GCC
10.5.4 Rest of Middle East & Africa
10.6 South America
11 Competitive Landscape
11.1 Introduction
11.1.1 Strategies Adopted by Key Market Players, 2019-2025
11.2 Revenue Analysis
11.3 Market Share Analysis, 2024
11.3.1 Market Share of Key Players
11.4 Brand Product Comparison
11.5 Company Evaluation Matrix, 2024
11.5.1 Stars
11.5.2 Emerging Leaders
11.5.3 Pervasive Players
11.5.4 Participants
11.5.5 Company Footprint: Key Players, 2024
11.5.5.1 Company Footprint
11.5.5.2 Region Footprint
11.5.5.3 Type Footprint
11.5.5.4 Application Footprint
11.6 Startup/SME Evaluation Matrix, 2024
11.6.1 Progressive Companies
11.6.2 Dynamic Companies
11.6.3 Responsive Companies
11.6.4 Starting Blocks
11.6.5 Competitive Benchmarking
11.7 Company Valuation and Financial Metrics
11.8 Competitive Scenario
11.8.1 Product Launches
11.8.2 Deals
11.8.3 Expansions
12 Company Profiles
12.1 Key Players
12.1.1 Green Revolution Cooling Inc.
12.1.1.1 Business Overview
12.1.1.2 Products/Solutions/Services Offered
12.1.1.3 Recent Developments
12.1.1.3.1 Product Launches
12.1.1.3.2 Deals
12.1.1.4 Analyst's View
12.1.1.4.1 Right to Win
12.1.1.4.2 Strategic Choices
12.1.1.4.3 Weaknesses and Competitive Threats
12.1.2 Submer
12.1.2.1 Business Overview
12.1.2.2 Products/Solutions/Services Offered
12.1.2.3 Recent Developments
12.1.2.3.1 Product Launches
12.1.2.3.2 Deals
12.1.2.3.3 Expansions
12.1.2.3.4 Others
12.1.2.4 Analyst's View
12.1.2.4.1 Right to Win
12.1.2.4.2 Strategic Choices
12.1.2.4.3 Weaknesses and Competitive Threats
12.1.3 Asperitas
12.1.3.1 Business Overview
12.1.3.2 Products/Solutions/Services Offered
12.1.3.3 Recent Developments
12.1.3.3.1 Product Launches
12.1.3.3.2 Deals
12.1.3.4 Analyst's View
12.1.3.4.1 Right to Win
12.1.3.4.2 Strategic Choices
12.1.3.4.3 Weaknesses and Competitive Threats
12.1.4 Liquidstack Holding B. V.
12.1.4.1 Business Overview
12.1.4.2 Products/Solutions/Services Offered
12.1.4.3 Recent Developments
12.1.4.3.1 Deals
12.1.4.3.2 Others
12.1.4.4 Analyst's View
12.1.4.4.1 Right to Win
12.1.4.4.2 Strategic Choices
12.1.4.4.3 Weaknesses and Competitive Threats
12.1.5 Midas Immersion Cooling
12.1.5.1 Business Overview
12.1.5.2 Products/Solutions/Services Offered
12.1.5.3 Recent Developments
12.1.5.3.1 Deals
12.1.5.4 Analyst's View
12.1.5.4.1 Right to Win
12.1.5.4.2 Strategic Choices
12.1.5.4.3 Weaknesses and Competitive Threats
12.1.6 Vertiv Group Corp.
12.1.6.1 Business Overview
12.1.6.2 Products/Solutions/Services Offered
12.1.6.3 Recent Developments
12.1.6.3.1 Deals
12.1.6.4 Analyst's View
12.1.6.4.1 Right to Win
12.1.6.4.2 Strategic Choices
12.1.6.4.3 Weaknesses and Competitive Threats
12.1.7 Iceotope Precision Liquid Cooling
12.1.7.1 Business Overview
12.1.7.2 Products/Solutions/Services Offered
12.1.7.3 Recent Developments
12.1.7.3.1 Product Launches
12.1.7.3.2 Deals
12.1.8 Liquidcool Solutions
12.1.8.1 Business Overview
12.1.8.2 Products/Solutions/Services Offered
12.1.8.3 Recent Developments
12.1.8.3.1 Deals
12.1.9 Dug Technology
12.1.9.1 Business Overview
12.1.9.2 Products/Solutions/Services Offered
12.1.9.3 Recent Developments
12.1.9.3.1 Deals
12.1.10 Dcx Liquid Cooling Systems
12.1.10.1 Business Overview
12.1.10.2 Products/Solutions/Services Offered
12.1.10.3 Recent Developments
12.1.10.3.1 Product Launches
12.1.10.3.2 Others
12.1.11 Stulz GmbH
12.1.11.1 Business Overview
12.1.11.2 Products/Solutions/Services Offered
12.1.11.3 Recent Developments
12.1.11.3.1 Product Launches
12.1.12 Modine
12.1.12.1 Business Overview
12.1.12.2 Products/Solutions/Services Offered
12.1.12.3 Recent Developments
12.1.12.3.1 Product Launches
12.1.12.3.2 Deals
12.1.12.3.3 Expansions
12.1.13 Giga-Byte Technology Co. Ltd.
12.1.13.1 Business Overview
12.1.13.2 Products/Solutions/Services Offered
12.1.14 Wiwynn Corporation
12.1.14.1 Business Overview
12.1.14.2 Products/Solutions/Services Offered
12.1.15 Kaori Heat Treatment Co. Ltd.
12.1.15.1 Business Overview
12.1.15.2 Products/Solutions/Services Offered
12.1.16 Delta Power Solutions
12.1.16.1 Business Overview
12.1.16.2 Products/Solutions/Services Offered
12.1.17 Boyd
12.1.17.1 Business Overview
12.1.17.2 Products/Solutions/Services Offered
12.2 Other Players
12.2.1 Hypertec Group Inc.
12.2.2 Pezy Computing
12.2.3 Tas
12.2.4 Rsi K.K.
12.2.5 Teimmers
13 Adjacent and Related Markets
13.1 Introduction
13.2 Limitations
13.3 Immersion Cooling Interconnected Markets
13.3.1 Data Center Liquid Cooling Market
13.3.1.1 Market Definition
13.3.1.2 Market Overview
13.3.1.3 Data Center Liquid Cooling Market, by Type of Cooling
13.3.1.3.1 Cold Plate Liquid Cooling
13.3.1.3.1.1 High-Density Data Center Installation to Drive Demand
13.3.1.4 Immersed Liquid Cooling
13.3.1.4.1 Low Carbon Footprint Through Immersion Liquid Cooling to Drive Segment
14 Appendix
14.1 Discussion Guide
14.2 Knowledgestore: The Subscription Portal
14.3 Customization Options
List of Tables
Table 1 Immersion Cooling Market, by Type: Inclusions and Exclusions
Table 2 Immersion Cooling Market, by Cooling Fluid: Inclusions and Exclusions
Table 3 Immersion Cooling Market, by Component: Inclusions and Exclusions
Table 4 Immersion Cooling Market, by Application: Inclusions and Exclusions
Table 5 Immersion Cooling Market, by Region: Inclusions and Exclusions
Table 6 Factor Analysis
Table 7 Limitations and Associated Risks
Table 8 Immersion Cooling Market Snapshot: 2025 vs. 2032
Table 9 Carbon Footprint of Air-Cooling Versus Immersion-Cooling for Data Centers
Table 10 Air-Cooling Versus Immersion Cooling for Data Centers
Table 11 Comparative Noise Level
Table 12 Water Consumption in Air-Cooling Versus Immersion-Cooling for Data Centers
Table 13 Immersion Cooling Market: Porter's Five Forces Analysis
Table 14 Influence of Stakeholders on Buying Process for Top Three Applications (%)
Table 15 Key Buying Criteria
Table 16 Key Buying Criteria, by End-use Industry
Table 17 Average Selling Price Trend of Key Players, by Type, 2024 (USD/L)
Table 18 Average Selling Price Trend of Immersion Cooling Fluids, by Region, 2020-2030 (USD/L)
Table 19 Immersion Cooling Market: Role in Ecosystem
Table 20 Major Patents Related to Data Center Liquid Cooling Solutions
Table 21 Data Center Immersion Cooling Market: Top Use Cases and Market Potential
Table 22 Data Center Immersion Cooling Market: Best Practices
Table 23 Data Center Immersion Cooling Market: List of Conferences and Events, 2025-2026
Table 24 Dielectric Cooling Fluid Specifications
Table 25 Dielectric Cooling Fluid Minimum Requirements
Table 26 Hydrocarbon Fluid Quality Management Table
Table 27 Fluorocarbon Fluid Quality Management Table
Table 28 Approaches in Indian Context
Table 29 North America: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 30 Europe: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 31 Details of Different Distribution Channels
Table 32 List of Partner Companies of Major Immersion Cooling Solution Providers
Table 33 Average Price of Cooling Fluid (USD/Liter)
Table 34 Real GDP Growth (Annual Percentage Change), by Country, 2021-2024
Table 35 Unemployment Rate, by Country, 2021-2024
Table 36 Inflation Rate (Average Consumer Prices), by Country, 2021-2024
Table 37 Foreign Direct Investment, 2022-2023
Table 38 Table 1: US Adjusted Reciprocal Tariff Rates
Table 39 Key Product-Related Tariff Effective for Immersion Cooling
Table 40 Immersion Cooling Market, by Type, 2020-2024 (USD Million)
Table 41 Immersion Cooling Market, by Type, 2025-2032 (USD Million)
Table 42 Single-Phase Immersion Cooling: Immersion Cooling Market, by Region, 2020-2024 (USD Million)
Table 43 Single-Phase Immersion Cooling: Immersion Cooling Market, by Region, 2025-2032 (USD Million)
Table 44 Two-Phase Immersion Cooling: Immersion Cooling Market, by Region, 2020-2024 (USD Million)
Table 45 Two-Phase Immersion Cooling: Immersion Cooling Market, by Region, 2025-2032 (USD Million)
Table 46 Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 47 Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 48 High-Performance Computing: Immersion Cooling Market, by Region, 2020-2024 (USD Million)
Table 49 High-Performance Computing: Immersion Cooling Market, by Region, 2025-2032 (USD Million)
Table 50 Edge Computing: Immersion Cooling Market, by Region, 2020-2024 (USD Million)
Table 51 Edge Computing: Immersion Cooling Market, by Region, 2025-2032 (USD Million)
Table 52 Artificial Intelligence: Immersion Cooling Market, by Region, 2020-2024 (USD Million)
Table 53 Artificial Intelligence: Immersion Cooling Market, by Region, 2025-2032 (USD Million)
Table 54 Cryptocurrency Mining: Immersion Cooling Market, by Region, 2020-2024 (USD Million)
Table 55 Cryptocurrency Mining: Immersion Cooling Market, by Region, 2025-2032 (USD Million)
Table 56 Other Applications: Immersion Cooling Market, by Region, 2020-2024 (USD Million)
Table 57 Other Applications: Immersion Cooling Market, by Region, 2025-2032 (USD Million)
Table 58 Immersion Cooling Market, by Component, 2020-2024 (USD Million)
Table 59 Immersion Cooling Market, by Component, 2025-2032 (USD Million)
Table 60 Solutions: Immersion Cooling Market, by Region, 2020-2024 (USD Million)
Table 61 Solutions: Immersion Cooling Market, by Region, 2025-2032 (USD Million)
Table 62 Services: Immersion Cooling Market, by Region, 2020-2024 (USD Million)
Table 63 Services: Immersion Cooling Market, by Region, 2025-2032 (USD Million)
Table 64 Immersion Cooling Market, by Region, 2020-2024 (USD Million)
Table 65 Immersion Cooling Market, by Region, 2025-2032 (USD Million)
Table 66 Immersion Cooling Market, by Region, 2020-2024 (Mw)
Table 67 Immersion Cooling Market, by Region, 2025-2032 (Mw)
Table 68 Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 69 Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 70 Immersion Cooling Market, by Type, 2020-2024 (USD Million)
Table 71 Immersion Cooling Market, by Type, 2025-2032 (USD Million)
Table 72 Asia-Pacific: Immersion Cooling Market, by Country, 2020-2024 (USD Million)
Table 73 Asia-Pacific: Immersion Cooling Market, by Country, 2025-2032 (USD Million)
Table 74 Asia-Pacific: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 75 Asia-Pacific: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 76 Asia-Pacific: Immersion Cooling Market, by Type, 2020-2024 (USD Million)
Table 77 Asia-Pacific: Immersion Cooling Market, by Type, 2025-2032 (USD Million)
Table 78 China: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 79 China: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 80 India: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 81 India: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 82 Japan: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 83 Japan: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 84 South Korea: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 85 South Korea: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 86 Thailand: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 87 Thailand: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 88 Malaysia: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 89 Malaysia: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 90 Rest of Asia-Pacific: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 91 Rest of Asia-Pacific: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 92 Europe: Immersion Cooling Market, by Country, 2020-2024 (USD Million)
Table 93 Europe: Immersion Cooling Market, by Country, 2025-2032 (USD Million)
Table 94 Europe: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 95 Europe: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 96 Europe: Immersion Cooling Market, by Type, 2020-2024 (USD Million)
Table 97 Europe: Immersion Cooling Market, by Type, 2025-2032 (USD Million)
Table 98 Germany: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 99 Germany: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 100 France: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 101 France: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 102 Netherlands: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 103 Netherlands: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 104 UK: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 105 UK: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 106 Russia: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 107 Russia: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 108 Spain: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 109 Spain: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 110 Rest of Europe: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 111 Rest of Europe: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 112 North America: Immersion Cooling Market, by Country, 2020-2024 (USD Million)
Table 113 North America: Immersion Cooling Market, by Country, 2025-2032 (USD Million)
Table 114 North America: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 115 North America: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 116 North America: Immersion Cooling Market, by Type, 2020-2024 (USD Million)
Table 117 North America: Immersion Cooling Market, by Type, 2025-2032 (USD Million)
Table 118 US: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 119 US: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 120 Canada: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 121 Canada: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 122 Mexico: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 123 Mexico: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 124 Middle East & Africa: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 125 Middle East & Africa: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 126 Middle East & Africa: Immersion Cooling Market, by Type, 2020-2024 (USD Million)
Table 127 Middle East & Africa: Immersion Cooling Market, by Type, 2025-2032 (USD Million)
Table 128 South America: Immersion Cooling Market, by Application, 2020-2024 (USD Million)
Table 129 South America: Immersion Cooling Market, by Application, 2025-2032 (USD Million)
Table 130 South America: Immersion Cooling Market, by Type, 2020-2024 (USD Million)
Table 131 South America: Immersion Cooling Market, by Type, 2025-2032 (USD Million)
Table 132 Strategies Adopted by Key Immersion Cooling Technology Manufacturers, 2019-2025
Table 133 Immersion Cooling Market: Degree of Competition
Table 134 Immersion Cooling Market: Degree of Competition, 2024
Table 135 Immersion Cooling Market: Region Footprint, 2024
Table 136 Immersion Cooling Market: Type Footprint, 2024
Table 137 Immersion Cooling Market: Application Footprint, 2024
Table 138 Immersion Cooling Market: Detailed List of Key Startups/SMEs
Table 139 Immersion Cooling Market: Competitive Benchmarking of Key Startups/SMEs
Table 140 Immersion Cooling Market: Product Launches, January 2019-May 2025
Table 141 Immersion Cooling Market: Deals, January 2019-May 2025
Table 142 Immersion Cooling Market: Expansions, January 2019-May 2025
Table 143 Green Revolution Cooling Inc.: Company Overview
Table 144 Green Revolution Cooling, Inc.: Products/Solutions/Services Offered
Table 145 Green Revolution Cooling, Inc.: Product Launches, January 2019-May 2025
Table 146 Green Revolution Cooling, Inc.: Deals, January 2019-May 2025
Table 147 Submer: Company Overview
Table 148 Submer: Products/Solutions/Services Offered
Table 149 Submer: Product Launches, January 2019-May 2025
Table 150 Submer: Deals, January 2019-May 2025
Table 151 Submer: Expansions, January 2019-May 2025
Table 152 Submer: Others, January 2019-May 2025
Table 153 Asperitas: Company Overview
Table 154 Asperitas: Products/Solutions/Services Offered
Table 155 Asperitas: Product Launches, January 2019-May 2025
Table 156 Asperitas: Deals, January 2019-May 2025
Table 157 Liquidstack Holding B.V.: Company Overview
Table 158 Liquidstack Holding B.V.: Products/Solutions/Services Offered
Table 159 Liquidstack Holding B.V.: Deals, January 2019-May 2025
Table 160 Liquidstack Holding B.V.: Others, January 2019-May 2025
Table 161 Midas Immersion Cooling: Company Overview
Table 162 Midas Immersion Cooling: Products/Solutions/Services Offered
Table 163 Midas Immersion Cooling: Deals, January 2019-May 2025
Table 164 Vertiv Group Corp.: Company Overview
Table 165 Vertiv Group Corp.: Products/Solutions/Services Offered
Table 166 Vertiv Group Corp.: Deals, January 2019-May 2025
Table 167 Iceotope Precision Liquid Cooling: Company Overview
Table 168 Iceotope Precision Liquid Cooling: Products/Solutions/Services Offered
Table 169 Iceotope Precision Liquid Cooling: Product Launches, January 2019-May 2025
Table 170 Iceotope Precision Liquid Cooling: Deals, January 2019-May 2025
Table 171 Liquidcool Solutions: Company Overview
Table 172 Liquidcool Solutions: Products/Solutions/Services Offered
Table 173 Liquidcool Solutions: Deals, January 2019-May 2025
Table 174 Dug Technology: Company Overview
Table 175 Dug Technology: Products/Solutions/Services Offered
Table 176 Dug Technology: Deals, January 2019-May 2025
Table 177 Dcx Liquid Cooling Systems: Company Overview
Table 178 Dcx Liquid Cooling Systems: Products/Solutions/Services Offered
Table 179 Dcx Liquid Cooling Systems: Product Launches, January 2019-May 2025
Table 180 Dcx Liquid Cooling Systems: Others, January 2019-May 2025
Table 181 Stulz GmbH: Company Overview
Table 182 Stulz GmbH: Products/Solutions/Services Offered
Table 183 Stulz GmbH: Product Launches, January 2019-May 2025
Table 184 Modine: Company Overview
Table 185 Modine: Products/Solutions/Services Offered
Table 186 Modine: Product Launches
Table 187 Modine: Deals
Table 188 Modine: Expansions
Table 189 Giga-Byte Technology Co. Ltd.: Company Overview
Table 190 Giga-Byte Technology Co. Ltd.: Products/Solutions/Services Offered
Table 191 Wiwynn Corporation: Company Overview
Table 192 Wiwynn Corporation: Products/Solutions/Services Offered
Table 193 Kaori Heat Treatment Co. Ltd.: Company Overview
Table 194 Kaori Heat Treatment Co. Ltd.: Products/Solutions/Services Offered
Table 195 Delta Power Solutions: Company Overview
Table 196 Delta Power Solutions: Products/Solutions/Services Offered
Table 197 Boyd: Company Overview
Table 198 Boyd: Products/Solutions/Services Offered
Table 199 Hypertec Group Inc.: Company Overview
Table 200 Pezy Computing.: Company Overview
Table 201 Tas: Company Overview
Table 202 Rsi K. K.: Company Overview
Table 203 Teimmers: Company Overview
Table 204 Data Center Liquid Cooling Market, by Type of Cooling, 2017-2024 (USD Million)
Table 205 Data Center Liquid Cooling Market, by Type of Cooling, 2023-2028 (USD Million)
List of Figures
Figure 1 Immersion Cooling Market Segmentation and Regional Scope
Figure 2 Immersion Cooling Market: Research Design
Figure 3 Market Size Estimation: Bottom-Up Approach
Figure 4 Market Size Estimation: Top-Down Approach
Figure 5 Market Size Estimation Methodology: Approach 1 (Supply Side)
Figure 6 Market Size Estimation Methodology: Approach 2 - Bottom-Up (Demand Side)
Figure 7 Immersion Cooling Market: Data Triangulation
Figure 8 High-Performance Computing to Account for Largest Share of Immersion Cooling Market
Figure 9 Single-Phase Immersion Cooling Segment to Lead Immersion Cooling Market
Figure 10 Solutions Segment to Account for Larger Share of Overall Immersion Cooling Market
Figure 11 North America to Account for Largest Share of Immersion Cooling Market
Figure 12 Adoption in Cryptocurrency Mining and Growing Server Density Driving Growth
Figure 13 Asia-Pacific Immersion Cooling Market Projected to Witness Highest CAGR Between 2025 and 2032
Figure 14 Cryptocurrency Mining Accounted for Largest Share of North America Immersion Cooling Market in 2024
Figure 15 Immersion Cooling Market in China Projected to Witness Highest CAGR Between 2025 and 2032
Figure 16 Drivers, Restraints, Opportunities, and Challenges in Immersion Cooling Market
Figure 17 Average Server Rack Density, 2020-2024
Figure 18 Immersion Cooling Market: Porter's Five Forces Analysis
Figure 19 Influence of Stakeholders on Buying Process for Top Three Applications
Figure 20 Key Buying Criteria for Top Three Applications
Figure 21 Revenue Shifts and New Revenue Pockets in Immersion Cooling Market
Figure 22 Average Selling Price Trend of Key Players, by Type, 2024
Figure 23 Average Selling Price of Immersion Cooling Fluids, by Region, 2020-2030
Figure 24 Immersion Cooling Market: Supply Chain Analysis
Figure 25 Immersion Cooling Market: Ecosystem Mapping
Figure 26 Types of Immersion Cooling Solutions
Figure 27 List of Major Patents Related to Data Center Immersion Cooling Solutions
Figure 28 Data Center Immersion Cooling Market: Investment and Funding Related to Startups/SMEs, 2019-2024 (USD Million)
Figure 29 Import Data for HS Code 271019-Compliant Products, by Key Country, 2018-2022 (USD Billion)
Figure 30 Export Data for HS Code 271019-Compliant Products, by Key Country, 2018-2022 (USD Billion)
Figure 31 Single-Phase Immersion Cooling Segment to Dominate Market During Forecast Period
Figure 32 High-Performance Cooling Application to Lead Market During Forecast Period
Figure 33 Solutions Segment to Dominate Market During Forecast Period
Figure 34 Immersion Cooling Market in China to Witness Highest CAGR During Forecast Period
Figure 35 Asia-Pacific: Immersion Cooling Market Snapshot
Figure 36 Europe: Immersion Cooling Market Snapshot
Figure 37 North America: Immersion Cooling Market Snapshot
Figure 38 Revenue Analysis of Key Companies (2021-2024)
Figure 39 Leading Players in Immersion Cooling Market, 2024
Figure 40 Brand Product Comparison
Figure 41 Company Evaluation Matrix for Immersion Cooling Market, 2024
Figure 42 Immersion Cooling Market: Company Footprint
Figure 43 Startup/SME Evaluation Matrix for Immersion Cooling Market, 2024
Figure 44 EV/Revenue
Figure 45 EV/EBITDA
Figure 46 Year-To-Date (YTD) Price Total Return and Five-Year Stock Beta of Key Manufacturers
Figure 47 Vertiv Group Corp.: Company Snapshot
Figure 48 Dug Technology: Company Snapshot
Figure 49 Modine: Company Snapshot
Figure 50 Giga-Byte Technology Co. Ltd.: Company Snapshot
Figure 51 Wiwynn Corporation: Company Snapshot
Figure 52 Kaori Heat Treatment Co. Ltd.: Company Snapshot
Figure 53 Delta Power Solutions: Company Snapshot

Companies Mentioned

  • Green Revolution Cooling Inc.
  • Submer
  • Asperitas
  • Liquidstack Holding B. V.
  • Midas Immersion Cooling
  • Vertiv Group Corp.
  • Iceotope Precision Liquid Cooling
  • Liquidcool Solutions
  • Dug Technology
  • Dcx Liquid Cooling Systems
  • Stulz GmbH
  • Modine
  • Giga-Byte Technology Co. Ltd.
  • Wiwynn Corporation
  • Kaori Heat Treatment Co. Ltd.
  • Delta Power Solutions
  • Boyd
  • Hypertec Group Inc.
  • Pezy Computing
  • Tas
  • Rsi K.K.
  • Teimmers

Table Information