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Immersion Cooling Fluids Market for EVs - A Global and Regional Analysis- Focus on Product, Application, and Country-Level Analysis - Analysis and Forecast, 2022-2032

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    Report

  • 325 Pages
  • February 2023
  • Region: Global
  • BIS Research
  • ID: 5745259
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Growing Need for Enhanced Electrification Components

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The global immersion cooling fluids market for EVs is projected to reach $3,837.0 million by 2032 from $205.8 million in 2021, growing at a CAGR of 30.78% during the forecast period 2022-2032. The growth in the global immersion cooling fluids market for EVs is expected to be driven by increasing sales of immersion cooling system-fitted electric vehicles worldwide.

Market Lifecycle Stage

Immersion cooling fluids used in electric vehicles are advancing technologically and are expected to grow faster in the forecast period. Key market development activities are expected to be boosted by ongoing research and development activities in manufacturing high-performance immersion cooling fluids.

The global immersion cooling fluids market for EVs is still in the growth phase. An increasing fleet of electric vehicles is propelling the sales of immersion cooling fluids in the market. As a result, the global immersion cooling fluids market for EVs is expected to flourish in the forecast period.

Impact

The federal government and agencies are investing heavily in subsidies and infrastructure development to promote electric vehicles and reduce carbon dioxide emissions. These investments are propelling the growth of immersion cooling fluids.

In 2021, the German government doubled its share of the environmental bonus as a new premium, which increased the subsidies for purchasing new EVs. Promoting green mobility, the German government announced the upgraded subsidy scheme, i.e., buyers of BEV and PHEV would get a subsidy of up to around $9,713 (9,000 euros) and around $7,285 (6,750 euros), respectively.

Demand - Drivers and Limitations

The following are the demand drivers for the immersion cooling fluids market for EVs:

  • Rising Acceptance of Electric Vehicles
  • Need to Increase the Driving Range of Electric Vehicles
  • Thermal Management in Electric Vehicles
  • Growing Need for Enhanced Electrification Components
  • Immersion Cooling for the Electric Vehicle Batteries

The market is expected to face some limitations due to the following challenges:

  • Higher Cost of Immersion Cooling Fluids for EVs
  • Developing Environment-Friendly Electric Vehicle Fluids
  • Complex Battery Chemistry and Amount of Immersion Cooling Fluid Needed
  • Changes Required to be Made in the Construction of EV Batteries
  • Lack of Knowledge About the Advantages of Immersion Cooling

Analyst View

According to Dhrubajyoti Narayan, Principal Analyst at the publisher, 'The immersion cooling fluids market for EVs is in the early stage and is expected to grow substantially in the forecast period. The rapid ongoing research and development activities are pushing the market growth significantly. Immersion cooling fluids producers are partnering with immersion cooling system manufacturers to enhance the performance of electric vehicle battery systems by optimizing fluid and hardware. A surge in battery electric vehicle sales growth is anticipated to boost the immersion cooling fluids market for EVs growth in the forecast period."

How can this report add value to an organization?

  • Product/Innovation Strategy: The product segment helps the reader understand the different types of electric vehicle immersion cooling fluids products available by propulsion type (battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in hybrid electric vehicles (PHEVs)), vehicle type (passenger vehicles, light commercial vehicles, and heavy commercial vehicles), application (EV batteries, EV motors, and power electronics), product type (single-phase coolant and two-phase coolant), and chemistry (mineral oils and synthetic oils and esters). Increasing demand for electric vehicles worldwide is pushing the sales of immersion cooling fluids. Therefore, the immersion cooling fluids business is a high-investment and high-revenue generating model.
  • Growth/Marketing Strategy: The global immersion cooling fluids market for EVs is exponentially growing, with enormous opportunities for the market players. Some strategies covered in this segment are product launches, partnerships and collaborations, business expansions, and investments. The companies' preferred strategy has been product launches, partnerships, and collaborations to strengthen their positions in the global immersion cooling fluids market for EVs.
  • Competitive Strategy: Key players in the global immersion cooling fluids market for EVs analyzed and profiled in the study involve immersion cooling fluids-based product manufacturers and immersion cooling system manufacturers. Moreover, a detailed competitive benchmarking of the players operating in the global immersion cooling fluids market for EVs has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing coverage, product portfolio, and market penetration.

Key Companies Profiled

Company Type 1: Immersion Cooling Fluids Manufacturers

  • FUCHS
  • The Lubrizol Corporation
  • 3M
  • Castrol Limited
  • M&I Materials Ltd.
  • Engineered Fluids
  • Shell plc
  • TotalEnergies SE
  • Cargill, Incorporated
  • Dober
  • LANXESS

Company Type 2: Immersion Cooling System Providers

  • XING Mobility
  • MAHLE GmbH
  • Kreisel Electric
  • E-MERSIV

Company Type 3: Electric Vehicle Manufacturers Customer Outlook

  • 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 AG

Market Segmentation:

Segmentation 1: by Propulsion Type

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

Based on the propulsion type segment, the global immersion cooling fluids market for EVs is expected to be dominated by the battery electric vehicles segment during the forecast period.

Segmentation 2: by Vehicle Type

  • Passenger Vehicles
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

In terms of vehicle type, passenger vehicles will dominate the global immersion cooling fluids market for EVs due to the expected growth in the fleet of these vehicles during the forecast period.

Segmentation 3: by Application

  • EV Batteries
  • EV Motors
  • Power Electronics

The EV batteries segment is expected to lead the market in the forecast period under the application segment, as more than four-fifths of the total immersion cooling fluid goes into EV batteries.

Segmentation 4: by Product Type

  • Single-Phase Coolant
  • Two-Phase Coolant

The single-phase coolant segment is expected to dominate the immersion cooling fluids market for EVs as it is one of the most efficient and safe methods of controlling heat rejection for EV batteries, EV motors, and power electronics.

Segmentation 5: by Chemistry

  • Mineral Oils
  • Synthetic Oils and Esters

For the year 2021, the synthetic oils and esters segment dominated the global immersion cooling fluids market for EVs and is also expected to be the predominant segment throughout the forecast period.

Segmentation 6: by Region

  • North America
  • Asia-Pacific and Japan
  • China
  • Europe
  • U.K.
  • Rest-of-the-World

Europe is home to a number of immersion cooling fluids manufacturers. The region is expected to dominate the immersion cooling fluids market for EVs during the forecast period.

Recent Developments in the Immersion Cooling Fluids Market for EVs

  • In June 2022, FUCHS acquired the lubricants business of Gleitmo Technik AB in Kungsbacka, Sweden, and will integrate it into its subsidiary FUCHS LUBRICANTS SWEDEN AB as of July 1, 2021, to strengthen its specialty business.
  • In November 2021, Williams Advanced Engineering (WAE) and Castrol Limited entered a five-year technical partnership to co-develop high-performance electric vehicle (EV) fluids.
  • In January 2021, MIVOLT and Faraday Future (FF), which is a worldwide shared intelligent mobility ecosystem company, entered a partnership to develop a fully submerged battery cooling system for its FF 91 luxury electric vehicle.
  • In October 2022, Shell plc extended its globally available specialized fluids portfolio by introducing Shell E-Fluids to support battery electric (BEV) as well as fuel cell electric (FCEV) powertrains for commercial light, medium, and heavy goods vehicles.
  • In July 2021, TotalEnergies SE launched a dedicated hybrid transmission fluid for Great Wall Motors. Great Wall Motors, China's leading car manufacturer, is a key player in the development of electric vehicles.

Table of Contents

1 Markets
1.1 Industry Outlook
1.1.1 Immersion Cooling Fluids: Overview
1.1.1.1 History of EV Battery Thermal Management
1.1.1.2 Immersion Cooling: The Way Forward for Electric Vehicle Battery Thermal Management
1.1.2 Overview of Regulatory Hurdles
1.1.2.1 Battery Issues
1.1.2.2 Fire-Related Regulations
1.1.2.2.1 China EV Fire-Related Regulations
1.1.2.2.2 Canada EV Fire-Related Regulations
1.1.2.2.3 U.S. EV Fire-Related Regulations
1.1.2.2.4 France EV Fire-Related Regulations
1.1.2.2.5 South Korea EV Fire-Related Regulations
1.1.2.2.6 India EV Fire-Related Regulations
1.1.3 Trends: Current and Future
1.1.4 Supply Chain Network
1.1.5 Comparative Analysis: Liquid Cooling Vs. Immersion Cooling
1.1.6 Case Study: Solving EV Range Anxiety
1.1.7 Additives for Fluids in Electric Vehicle Batteries
1.1.7.1 Analyst View on Additives for Fluids in EV Batteries
1.1.8 Ecosystem/Ongoing Programs
1.1.8.1 Consortiums, Associations, and Regulatory Bodies
1.1.8.1.1 North America
1.1.8.1.2 Europe
1.1.8.1.3 Asia-Pacific and Japan
1.1.8.2 Government Initiatives
1.1.8.3 Programs by Research Institutions and Universities
1.1.9 Key Patent Mapping
1.1.9.1 Past Vs. Future of Research and Development Activities in the Immersion Cooling Fluids Market for EVs
1.1.10 Overview of EV Fluid Cost Estimation
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Rising Acceptance of Electric Vehicles
1.2.1.2 Need to Increase the Driving Range of Electric Vehicles
1.2.1.3 Thermal Management in Electric Vehicles
1.2.1.4 Growing Need for Enhanced Electrification Components
1.2.1.5 Immersion Cooling for Electric Vehicle Batteries
1.2.2 Business Restraints
1.2.2.1 Higher Cost of Immersion Cooling Fluids for EVs
1.2.2.2 Developing Environment-Friendly Electric Vehicle Fluids
1.2.2.3 Complex Battery Chemistry and Amount of Immersion Cooling Fluid Needed
1.2.2.4 Changes Required to be Made in the Construction of EV Batteries
1.2.2.5 Lack of Knowledge About the Advantages of Immersion Cooling
1.2.3 Business Strategies
1.2.3.1 Product Development
1.2.3.2 Market Development
1.2.4 Corporate Strategies
1.2.4.1 Mergers and Acquisitions
1.2.4.2 Partnerships, Joint Ventures, Collaborations, and Alliances
1.2.5 Business Opportunities
1.2.5.1 Coolants for EV Electronics and Charging Port Cables
1.2.5.2 Stringent Regulations by Government Bodies for Promoting Sustainable EV Environment
1.2.5.3 Growing Trend for the Development of Autonomous Vehicles
1.3 Impact of COVID-19 on the industry

2 Application
2.1 Immersion Cooling Fluids Market for EVs - Applications and Specifications
2.1.1 Immersion Cooling Fluids Market for EVs (by Vehicle Type)
2.1.1.1 Passenger Vehicles
2.1.1.2 Light Commercial Vehicles
2.1.1.3 Heavy Commercial Vehicles
2.1.2 Immersion Cooling Fluids Market for EVs (by Propulsion Type)
2.1.2.1 Battery Electric Vehicles (BEVs)
2.1.2.2 Hybrid Electric Vehicles (HEVs)
2.1.2.3 Plug-in Hybrid Electric Vehicles (PHEVs)
2.1.3 Immersion Cooling Fluids Market for EVs (by Application)
2.1.3.1 EV Batteries
2.1.3.2 EV Motors
2.1.3.3 Power Electronics
2.2 Immersion Cooling Fluids Market for EVs - Demand Analysis (by Applications)
2.2.1 Immersion Cooling Fluids Market for EVs (by Vehicle Type), Volume and Value Data
2.2.1.1 Passenger Vehicles
2.2.1.2 Light Commercial Vehicles
2.2.1.3 Heavy Commercial Vehicles
2.2.2 Immersion Cooling Fluids Market for EVs (by Propulsion Type), Volume and Value Data
2.2.2.1 Battery Electric Vehicles
2.2.2.2 Hybrid Electric Vehicles
2.2.2.3 Plug-in Hybrid Electric Vehicles
2.2.3 Immersion Cooling Fluids Market for EVs (by Application), Volume and Value Data
2.2.3.1 EV Batteries
2.2.3.2 EV Motors
2.2.3.3 Power Electronics

3 Products
3.1 Immersion Cooling Fluids Market for EVs - Products and Specifications
3.1.1 Immersion Cooling Fluids Market for EVs (by Product Type)
3.1.1.1 Single-Phase Coolant
3.1.1.2 Two-Phase Coolant
3.1.2 Immersion Cooling Fluids Market for EVs (by Chemistry)
3.1.2.1 Mineral Oils
3.1.2.2 Synthetic Oils and Esters
3.2 Immersion Cooling Fluids Market for EVs - Demand Analysis (by Products)
3.2.1 Immersion Cooling Fluids Market for EVs (by Product Type), Volume and Value Data
3.2.1.1 Single-Phase Coolant
3.2.1.2 Two-Phase Coolant
3.2.2 Immersion Cooling Fluids Market for EVs (by Chemistry), Volume and Value Data
3.2.2.1 Mineral Oils
3.2.2.2 Synthetic Oils and Esters
3.3 Product Benchmarking: Growth Rate - Market Share Matrix
3.3.1 Opportunity Matrix (by Region)
3.3.2 Opportunity Matrix (by Product Type)
3.3.3 Opportunity Matrix (by Chemistry)
3.4 Global Pricing Analysis
3.5 Technology Roadmap

4 Regions
4.1 North America
4.1.1 Markets
4.1.1.1 Buyer Attributes
4.1.1.2 Key Manufacturers in North America
4.1.1.3 Competitive Benchmarking
4.1.1.4 Business Challenges
4.1.1.5 Business Drivers
4.1.2 Applications
4.1.2.1 North America Immersion Cooling Fluids Market for EVs (by Vehicle Type), Value and Volume Data, 2021-2032
4.1.2.2 North America Immersion Cooling Fluids Market for EVs (by Propulsion Type), Value and Volume Data, 2021-2032
4.1.2.3 North America Immersion Cooling Fluids Market for EVs (by Application), Value and Volume Data, 2021-2032
4.1.3 Products
4.1.3.1 North America Immersion Cooling Fluids Market for EVs (by Product Type), Value and Volume Data, 2021-2032
4.1.3.2 North America Immersion Cooling Fluids Market for EVs (by Chemistry), Value and Volume Data, 2021-2032
4.1.4 North America: Country-Level Analysis
4.1.4.1 U.S.
4.1.4.1.1 Markets
4.1.4.1.1.1 Buyer Attributes
4.1.4.1.1.2 Key Manufacturers in the U.S.
4.1.4.1.1.3 Business Challenges
4.1.4.1.1.4 Business Drivers
4.1.4.1.2 Applications
4.1.4.1.2.1 U.S. Immersion Cooling Fluids Market for EVs (by Vehicle Type), Value and Volume Data, 2021-2032
4.1.4.1.2.2 U.S. Immersion Cooling Fluids Market for EVs (by Propulsion Type), Value and Volume Data, 2021-2032
4.1.4.1.2.3 U.S. Immersion Cooling Fluids Market for EVs (by Application), Value and Volume Data, 2021-2032
4.1.4.1.3 Products
4.1.4.1.3.1 U.S. Immersion Cooling Fluids Market for EVs (by Product Type), Value and Volume Data, 2021-2032
4.1.4.1.3.2 U.S. Immersion Cooling Fluids Market for EVs (by Chemistry), Value and Volume Data, 2021-2032
4.1.4.2 Canada
4.1.4.2.1 Markets
4.1.4.2.1.1 Buyer Attributes
4.1.4.2.1.2 Key Manufacturers in Canada
4.1.4.2.1.3 Business Challenges
4.1.4.2.1.4 Business Drivers
4.1.4.2.2 Applications
4.1.4.2.2.1 Canada Immersion Cooling Fluids Market for EVs (by Vehicle Type), Value and Volume Data, 2021-2032
4.1.4.2.2.2 Canada Immersion Cooling Fluids Market for EVs (by Propulsion Type), Value and Volume Data, 2021-2032
4.1.4.2.2.3 Canada Immersion Cooling Fluids Market for EVs (by Application), Value and Volume Data, 2021-2032
4.1.4.2.3 Products
4.1.4.2.3.1 Canada Immersion Cooling Fluids Market for EVs (by Product Type), Value and Volume Data, 2021-2032
4.1.4.2.3.2 Canada Immersion Cooling Fluids Market for EVs (by Chemistry), Value and Volume Data, 2021-2032
4.1.4.3 Mexico
4.1.4.3.1 Markets
4.1.4.3.1.1 Buyer Attributes
4.1.4.3.1.2 Key Manufacturers in Mexico
4.1.4.3.1.3 Business Challenges
4.1.4.3.1.4 Business Drivers
4.1.4.3.2 Applications
4.1.4.3.2.1 Mexico Immersion Cooling Fluids Market for EVs (by Vehicle Type), Value and Volume Data, 2021-2032
4.1.4.3.2.2 Mexico Immersion Cooling Fluids Market for EVs (by Propulsion Type), Value and Volume Data, 2021-2032
4.1.4.3.2.3 Mexico Immersion Cooling Fluids Market for EVs (by Application), Value and Volume Data, 2021-2032
4.1.4.3.3 Products
4.1.4.3.3.1 Mexico Immersion Cooling Fluids Market for EVs (by Product Type), Value and Volume Data, 2021-2032
4.1.4.3.3.2 Mexico Immersion Cooling Fluids Market for EVs (by Chemistry), Value and Volume Data, 2021-2032
4.2 Europe
4.2.1 Markets
4.2.1.1 Buyer Attributes
4.2.1.2 Key Manufacturers in Europe
4.2.1.3 Competitive Benchmarking
4.2.1.4 Business Challenges
4.2.1.5 Business Drivers
4.2.2 Applications
4.2.2.1 Europe Immersion Cooling Fluids Market for EVs (by Vehicle Type), Value and Volume Data, 2021-2032
4.2.2.2 Europe Immersion Cooling Fluids Market for EVs (by Propulsion Type), Value and Volume Data, 2021-2032
4.2.2.3 Europe Immersion Cooling Fluids Market for EVs (by Application), Value and Volume Data, 2021-2032
4.2.3 Products
4.2.3.1 Europe Immersion Cooling Fluids Market for EVs (by Product Type), Value and Volume Data, 2021-2032
4.2.3.2 Europe Immersion Cooling Fluids Market for EVs (by Chemistry), Value and Volume Data, 2021-2032
4.2.4 Europe: Country-Level Analysis
4.2.4.1 Germany
4.2.4.1.1 Markets
4.2.4.1.1.1 Buyer Attributes
4.2.4.1.1.2 Key Manufacturers in Germany
4.2.4.1.1.3 Business Challenges
4.2.4.1.1.4 Business Drivers
4.2.4.1.2 Applications
4.2.4.1.2.1 Germany Immersion Cooling Fluids Market for EVs (by Vehicle Type), Value and Volume Data, 2021-2032
4.2.4.1.2.2 Germany Immersion Cooling Fluids Market for EVs (by Propulsion Type), Value and Volume Data, 2021-2032
4.2.4.1.2.3 Germany Immersion Cooling Fluids Market for EVs (by Application), Value and Volume Data, 2021-2032
4.2.4.1.3 Products
4.2.4.1.3.1 Germany Immersion Cooling Fluids Market for EVs (by Product Type), Value and Volume Data, 2021-2032
4.2.4.1.3.2 Germany Immersion Cooling Fluids Market for EVs (by Chemistry), Value and Volume Data, 2021-2032
4.2.4.2 France
4.2.4.2.1 Markets
4.2.4.2.1.1 Buyer Attributes
4.2.4.2.1.2 Key Manufacturers in France
4.2.4.2.1.3 Business Challenges
4.2.4.2.1.4 Business Drivers
4.2.4.2.2 Applications
4.2.4.2.2.1 France Immersion Cooling Fluids Market for EVs (by Vehicle Type), Value and Volume Data, 2021-2032
4.2.4.2.2.2 France Immersion Cooling Fluids Market for EVs (by Propulsion Type), Value and Volume Data, 2021-2032
4.2.4.2.2.3 France Immersion Cooling Fluids Market for EVs (by Application), Value and Volume Data, 2021-2032
4.2.4.2.3 Products
4.2.4.2.3.1 France Immersion Cooling Fluids Market for EVs (by Product Type), Value and Volume Data, 2021-2032
4.2.4.2.3.2 France Immersion Cooling Fluids Market for EVs (by Chemistry), Value and Volume Data, 2021-2032
4.2.4.3 Italy
4.2.4.3.1 Markets
4.2.4.3.1.1 Buyer Attributes
4.2.4.3.1.2 Key Manufacturers in Italy
4.2.4.3.1.3 Business Challenges
4.2.4.3.1.4 Business Drivers
4.2.4.3.2 Applications
4.2.4.3.2.1 Italy Immersion Cooling Fluids Market for EVs (by Vehicle Type), Value and Volume Data, 2021-2032
4.2.4.3.2.2 Italy Immersion Cooling Fluids Market for EVs (by Propulsion Type), Value and Volume Data, 2021-2032
4.2.4.3.2.3 Italy Immersion Cooling Fluids Market for EVs (by Application), Value and Volume Data, 2021-2032
4.2.4.3.3 Products
4.2.4.3.3.1 Italy Immersion Cooling Fluids Market for EVs (by Product Type), Value and Volume Data, 2021-2032
4.2.4.3.3.2 Italy Immersion Cooling Fluids Market for EVs (by Chemistry), Value and Volume Data, 2021-2032
4.2.4.4 Spain
4.2.4.4.1 Markets
4.2.4.4.1.1 Buyer Attributes
4.2.4.4.1.2 Key Manufacturers in Spain
4.2.4.4.1.3 Business Challenges
4.2.4.4.1.4 Business Drivers
4.2.4.4.2 Applications
4.2.4.4.2.1 Spain Immersion Cooling Fluids Market for EVs (by Vehicle Type), Value and Volume Data, 2021-2032
4.2.4.4.2.2 Spain Immersion Cooling Fluids Market for EVs (by Propulsion Type), Value and Volume Data, 2021-2032
4.2.4.4.2.3 Spain Immersion Cooling Fluids Market for EVs (by Application), Value and Volume Data, 2021-2032
4.2.4.4.3 Products
4.2.4.4.3.1 Spain Immersion Cooling Fluids Market for EVs (by Product Type), Value and Volume Data, 2021-2032
4.2.4.4.3.2 Spain Immersion Cooling Fluids Market for EVs (by Chemistry), Value and Volume Data, 2021-2032
4.2.4.5 Rest-of-Europe
4.2.4.5.1 Markets
4.2.4.5.1.1 Buyer Attributes
4.2.4.5.1.2 Key Manufacturers in Rest-of-Europe
4.2.4.5.1.3 Business Challenges
4.2.4.5.1.4 Business Drivers
4.2.4.5.2 Applications
4.2.4.5.2.1 Rest-of-Europe Immersion Cooling Fluids Market for EVs (by Vehicle Type), Value and Volume Data, 2021-2032
4.2.4.5.2.2 Rest-of-Europe Immersion Cooling Fluids Market for EVs (by Propulsion Type), Value and Volume Data, 2021-2032
4.2.4.5.2.3 Rest-of-Europe Immersion Cooling Fluids Market for EVs (by Application), Value and Volume Data, 2021-2032
4.2.4.5.3 Products
4.2.4.5.3.1 Rest-of-Europe Immersion Cooling Fluids Market for EVs (by Product Type), Value and Volume Data, 2021-2032
4.2.4.5.3.2 Rest-of-Europe Immersion Cooling Fluids Market for EVs (by Chemistry), Value and Volume Data, 2021-2032
4.3 U.K.
4.3.1 Markets
4.3.1.1 Buyer Attributes
4.3.1.2 Key Manufacturers in the U.K.
4.3.1.3 Competitive Benchmarking
4.3.1.4 Business Challenges
4.3.1.5 Business Drivers
4.3.2 Applications
4.3.2.1 U.K. Immersion Cooling Fluids Market for EVs (by Vehicle Type), Value and Volume Data, 2021-2032
4.3.2.2 U.K. Immersion Cooling Fluids Market for EVs (by Propulsion Type), Value and Volume Data, 2021-2032
4.3.2.3 U.K. Immersion Cooling Fluids Market for EVs (by Application), Value and Volume Data, 2021-2032
4.3.3 Products
4.3.3.1 U.K. Immersion Cooling Fluids Market for EVs (by Product Type), Value and Volume Data, 2021-2032
4.3.3.2 U.K. Immersion Cooling Fluids Market for EVs (by Chemistry), Value and Volume Data, 2021-2032
4.4 China
4.4.1 Markets
4.4.1.1 Buyer Attributes
4.4.1.2 Key Manufacturers in China
4.4.1.3 Competitive Benchmarking
4.4.1.4 Business Challenges
4.4.1.5 Business Drivers
4.4.2 Applications
4.4.2.1 China Immersion Cooling Fluids Market for EVs (by Vehicle Type), Value and Volume Data, 2021-2032
4.4.2.2 China Immersion Cooling Fluids Market for EVs (by Propulsion Type), Value and Volume Data, 2021-2032
4.4.2.3 China Immersion Cooling Fluids Market for EVs (by Application), Value and Volume Data, 2021-2032
4.4.3 Products
4.4.3.1 China Immersion Cooling Fluids Market for EVs (by Product Type), Value and Volume Data, 2021-2032
4.4.3.2 China Immersion Cooling Fluids Market for EVs (by Chemistry), Value and Volume Data, 2021-2032
4.5 Asia-Pacific and Japan
4.5.1 Markets
4.5.1.1 Buyer Attributes
4.5.1.2 Key Manufacturers in Asia-Pacific and Japan
4.5.1.3 Competitive Benchmarking
4.5.1.4 Business Challenges
4.5.1.5 Business Drivers
4.5.2 Applications
4.5.2.1 Asia-Pacific and Japan Immersion Cooling Fluids Market for EVs (by Vehicle Type), Value and Volume Data, 2021-2032
4.5.2.2 Asia-Pacific and Japan Immersion Cooling Fluids Market for EVs (by Propulsion Type), Value and Volume Data, 2021-2032
4.5.2.3 Asia-Pacific and Japan Immersion Cooling Fluids Market for EVs (by Application), Value and Volume Data, 2021-2032
4.5.3 Products
4.5.3.1 Asia-Pacific and Japan Immersion Cooling Fluids Market for EVs (by Product Type), Value and Volume Data, 2021-2032
4.5.3.2 Asia-Pacific and Japan Immersion Cooling Fluids Market for EVs (by Chemistry), Value and Volume Data, 2021-2032
4.5.4 Asia-Pacific and Japan: Country-Level Analysis
4.5.4.1 Japan
4.5.4.1.1 Markets
4.5.4.1.1.1 Buyer Attributes
4.5.4.1.1.2 Key Manufacturers in Japan
4.5.4.1.1.3 Business Challenges
4.5.4.1.1.4 Business Drivers
4.5.4.1.2 Applications
4.5.4.1.2.1 Japan Immersion Cooling Fluids Market for EVs (by Vehicle Type), Value and Volume Data, 2021-2032
4.5.4.1.2.2 Japan Immersion Cooling Fluids Market for EVs (by Propulsion Type), Value and Volume Data, 2021-2032
4.5.4.1.2.3 Japan Immersion Cooling Fluids Market for EVs (by Application), Value and Volume Data, 2021-2032
4.5.4.1.3 Products
4.5.4.1.3.1 Japan Immersion Cooling Fluids Market for EVs (by Product Type), Value and Volume Data, 2021-2032
4.5.4.1.3.2 Japan Immersion Cooling Fluids Market for EVs (by Chemistry), Value and Volume Data, 2021-2032
4.5.4.2 South Korea
4.5.4.2.1 Markets
4.5.4.2.1.1 Buyer Attributes
4.5.4.2.1.2 Key Manufacturers in South Korea
4.5.4.2.1.3 Business Challenges
4.5.4.2.1.4 Business Drivers
4.5.4.2.2 Applications
4.5.4.2.2.1 South Korea Immersion Cooling Fluids Market for EVs (by Vehicle Type), Value and Volume Data, 2021-2032
4.5.4.2.2.2 South Korea Immersion Cooling Fluids Market for EVs (by Propulsion Type), Value and Volume Data, 2021-2032
4.5.4.2.2.3 South Korea Immersion Cooling Fluids Market for EVs (by Application), Value and Volume Data, 2021-2032
4.5.4.2.3 Products
4.5.4.2.3.1 South Korea Immersion Cooling Fluids Market for EVs (by Product Type), Value and Volume Data, 2021-2032
4.5.4.2.3.2 South Korea Immersion Cooling Fluids Market for EVs (by Chemistry), Value and Volume Data, 2021-2032
4.5.4.3 India
4.5.4.3.1 Markets
4.5.4.3.1.1 Buyer Attributes
4.5.4.3.1.2 Key Manufacturers in India
4.5.4.3.1.3 Business Challenges
4.5.4.3.1.4 Business Drivers
4.5.4.3.2 Applications
4.5.4.3.2.1 India Immersion Cooling Fluids Market for EVs (by Vehicle Type), Value and Volume Data, 2021-2032
4.5.4.3.2.2 India Immersion Cooling Fluids Market for EVs (by Propulsion Type), Value and Volume Data, 2021-2032
4.5.4.3.2.3 India Immersion Cooling Fluids Market for EVs (by Application), Value and Volume Data, 2021-2032
4.5.4.3.3 Products
4.5.4.3.3.1 India Immersion Cooling Fluids Market for EVs (by Product Type), Value and Volume Data, 2021-2032
4.5.4.3.3.2 India Immersion Cooling Fluids Market for EVs (by Chemistry), Value and Volume Data, 2021-2032
4.5.4.4 Australia
4.5.4.4.1 Markets
4.5.4.4.1.1 Buyer Attributes
4.5.4.4.1.2 Key Manufacturers in Australia
4.5.4.4.1.3 Business Challenges
4.5.4.4.1.4 Business Drivers
4.5.4.4.2 Applications
4.5.4.4.2.1 Australia Immersion Cooling Fluids Market for EVs (by Vehicle Type), Value and Volume Data, 2021-2032
4.5.4.4.2.2 Australia Immersion Cooling Fluids Market for EVs (by Propulsion Type), Value and Volume Data, 2021-2032
4.5.4.4.2.3 Australia Immersion Cooling Fluids Market for EVs (by Application), Value and Volume Data, 2021-2032
4.5.4.4.3 Products
4.5.4.4.3.1 Australia Immersion Cooling Fluids Market for EVs (by Product Type), Value and Volume Data, 2021-2032
4.5.4.4.3.2 Australia Immersion Cooling Fluids Market for EVs (by Chemistry), Value and Volume Data, 2021-2032
4.5.4.5 Rest-of-Asia-Pacific and Japan
4.5.4.5.1 Markets
4.5.4.5.1.1 Buyer Attributes
4.5.4.5.1.2 Key Manufacturers in Rest-of-Asia-Pacific and Japan
4.5.4.5.1.3 Business Challenges
4.5.4.5.1.4 Business Drivers
4.5.4.5.2 Applications
4.5.4.5.2.1 Rest-of-Asia-Pacific and Japan Immersion Cooling Fluids Market for EVs (by Vehicle Type), Value and Volume Data, 2021-2032
4.5.4.5.2.2 Rest-of-Asia-Pacific and Japan Immersion Cooling Fluids Market for EVs (by Propulsion Type), Value and Volume Data, 2021-2032
4.5.4.5.2.3 Rest-of-Asia-Pacific and Japan Immersion Cooling Fluids Market for EVs (by Application), Value and Volume Data, 2021-2032
4.5.4.5.3 Products
4.5.4.5.3.1 Rest-of-Asia-Pacific and Japan Immersion Cooling Fluids Market for EVs (by Product Type), Value and Volume Data, 2021-2032
4.5.4.5.3.2 Rest-of-Asia-Pacific and Japan Immersion Cooling Fluids Market for EVs (by Chemistry), Value and Volume Data, 2021-2032
4.6 Rest-of-the-World
4.6.1 Markets
4.6.1.1 Buyer Attributes
4.6.1.2 Key Manufacturers in Rest-of-the-World
4.6.1.3 Competitive Benchmarking
4.6.1.4 Business Challenges
4.6.1.5 Business Drivers
4.6.2 Applications
4.6.2.1 Rest-of-the-World Immersion Cooling Fluids Market for EVs (by Vehicle Type), Value and Volume Data, 2021-2032
4.6.2.2 Rest-of-the-World Immersion Cooling Fluids Market for EVs (by Propulsion Type), Value and Volume Data, 2021-2032
4.6.2.3 Rest-of-the-World Immersion Cooling Fluids Market for EVs (by Application), Value and Volume Data, 2021-2032
4.6.3 Products
4.6.3.1 Rest-of-the-World Immersion Cooling Fluids Market for EVs (by Product Type), Value and Volume Data, 2021-2032
4.6.3.2 Rest-of-the-World Immersion Cooling Fluids Market for EVs (by Chemistry), Value and Volume Data, 2021-2032

5 Markets - Competitive Benchmarking & Company Profiles
5.1 Competitive Benchmarking
5.2 Market Share Analysis
5.3 Company Profiles
5.3.1 Type 1 Companies: Immersion Cooling Fluids Manufacturers
5.3.1.1 FUCHS
5.3.1.1.1 Company Overview
5.3.1.1.1.1 Role of FUCHS in the Immersion Cooling Fluids Market for EVs
5.3.1.1.1.2 Product Portfolio
5.3.1.1.2 Business Strategies
5.3.1.1.2.1 FUCHS: Product Development
5.3.1.1.3 Corporate Strategies
5.3.1.1.3.1 FUCHS: Mergers and Acquisitions
5.3.1.1.3.2 FUCHS: Partnerships, Joint Ventures, Collaborations, and Alliances
5.3.1.1.4 Production Sites and R&D Analysis
5.3.1.1.5 Analyst View
5.3.1.2 The Lubrizol Corporation
5.3.1.2.1 Company Overview
5.3.1.2.1.1 Role of The Lubrizol Corporation in the Immersion Cooling Fluids Market for EVs
5.3.1.2.1.2 Product Portfolio
5.3.1.2.2 Corporate Strategies
5.3.1.2.2.1 The Lubrizol Corporation: Partnerships, Joint Ventures, Collaborations, and Alliances
5.3.1.2.3 Production Sites and R&D Analysis
5.3.1.2.4 Analyst View
5.3.1.3 3M
5.3.1.3.1 Company Overview
5.3.1.3.1.1 Role of 3M in the Immersion Cooling Fluids Market for EVs
5.3.1.3.1.2 Product Portfolio
5.3.1.3.2 Production Sites and R&D Analysis
5.3.1.3.3 Analyst View
5.3.1.4 Castrol Limited
5.3.1.4.1 Company Overview
5.3.1.4.1.1 Role of Castrol Limited in the Immersion Cooling Fluids Market for EVs
5.3.1.4.1.2 Product Portfolio
5.3.1.4.2 Business Strategies
5.3.1.4.2.1 Castrol Limited: Product Development
5.3.1.4.3 Corporate Strategies
5.3.1.4.3.1 Castrol Limited: Partnerships, Joint Ventures, Collaborations, and Alliances
5.3.1.4.4 Production Sites and R&D Analysis
5.3.1.4.5 Analyst View
5.3.1.5 M&I Materials Ltd.
5.3.1.5.1 Company Overview
5.3.1.5.1.1 Role of M&I Materials Ltd. in the Immersion Cooling Fluids Market for EVs
5.3.1.5.1.2 Product Portfolio
5.3.1.5.2 Business Strategies
5.3.1.5.2.1 M&I Materials Ltd.: Product Development
5.3.1.5.3 Corporate Strategies
5.3.1.5.3.1 M&I Materials Ltd.: Partnerships, Joint Ventures, Collaborations, and Alliances
5.3.1.5.4 Production Sites and R&D Analysis
5.3.1.5.5 Analyst View
5.3.1.6 Engineered Fluids
5.3.1.6.1 Company Overview
5.3.1.6.1.1 Role of Engineered Fluids in the Immersion Cooling Fluids Market for EVs
5.3.1.6.1.2 Product Portfolio
5.3.1.6.2 Production Sites and R&D Analysis
5.3.1.6.3 Analyst View
5.3.1.7 Shell plc
5.3.1.7.1 Company Overview
5.3.1.7.1.1 Role of Shell plc in the Immersion Cooling Fluids Market for EVs
5.3.1.7.1.2 Product Portfolio
5.3.1.7.2 Business Strategies
5.3.1.7.2.1 Shell plc: Product Development
5.3.1.7.3 Production Sites and R&D Analysis
5.3.1.7.4 Analyst View
5.3.1.8 TotalEnergies SE
5.3.1.8.1 Company Overview
5.3.1.8.1.1 Role of TotalEnergies SE in the Immersion Cooling Fluids Market for EVs
5.3.1.8.1.2 Product Portfolio
5.3.1.8.2 Business Strategies
5.3.1.8.2.1 TotalEnergies SE: Product Development
5.3.1.8.3 Corporate Strategies
5.3.1.8.3.1 TotalEnergies SE: Partnerships, Joint Ventures, Collaborations, and Alliances
5.3.1.8.4 Production Sites and R&D Analysis
5.3.1.8.5 Analyst View
5.3.1.9 Cargill, Incorporated
5.3.1.9.1 Company Overview
5.3.1.9.1.1 Role of Cargill, Incorporated in the Immersion Cooling Fluids Market for EVs
5.3.1.9.1.2 Product Portfolio
5.3.1.9.2 Business Strategies
5.3.1.9.2.1 Cargill, Incorporated: Product Development
5.3.1.9.3 Production Sites and R&D Analysis
5.3.1.9.4 Analyst View
5.3.1.10 DOBER
5.3.1.10.1 Company Overview
5.3.1.10.1.1 Role of DOBER in the Immersion Cooling Fluids Market for EVs
5.3.1.10.1.2 Product Portfolio
5.3.1.10.2 Production Sites and R&D Analysis
5.3.1.10.3 Analyst View
5.3.1.11 LANXESS
5.3.1.11.1 Company Overview
5.3.1.11.1.1 Role of LANXESS in the Immersion Cooling Fluids Market for EVs
5.3.1.11.1.2 Product Portfolio
5.3.1.11.2 Production Sites and R&D Analysis
5.3.1.11.3 Analyst View
5.3.2 Type 2 Companies: Immersion Cooling System Providers
5.3.2.1 XING Mobility
5.3.2.1.1 Company Overview
5.3.2.1.1.1 Role of XING Mobility in the Immersion Cooling Fluids Market for EVs
5.3.2.1.1.2 Product Portfolio
5.3.2.1.2 Business Strategies
5.3.2.1.2.1 XING Mobility: Product Development
5.3.2.1.3 Corporate Strategies
5.3.2.1.3.1 XING Mobility: Partnerships, Joint Ventures, Collaborations, and Alliances
5.3.2.1.4 Analyst View
5.3.2.2 MAHLE GmbH
5.3.2.2.1 Company Overview
5.3.2.2.1.1 Role of MAHLE GmbH in the Immersion Cooling Fluids Market for EVs
5.3.2.2.1.2 Product Portfolio
5.3.2.2.2 Business Strategies
5.3.2.2.2.1 MAHLE GmbH: Product Development
5.3.2.2.3 Production Sites and R&D Analysis
5.3.2.2.4 Analyst View
5.3.2.3 Kreisel Electric
5.3.2.3.1 Company Overview
5.3.2.3.1.1 Role of Kreisel Electric in the Immersion Cooling Fluids Market for EVs
5.3.2.3.1.2 Product Portfolio
5.3.2.3.2 Business Strategies
5.3.2.3.2.1 Kreisel Electric: Market Development
5.3.2.3.3 Corporate Strategies
5.3.2.3.3.1 Kreisel Electric: Mergers and Acquisitions
5.3.2.3.3.2 Kreisel Electric: Partnerships, Joint Ventures, Collaborations, and Alliances
5.3.2.3.4 Analyst View
5.3.2.4 E-MERSIV
5.3.2.4.1 Company Overview
5.3.2.4.1.1 Role of E-MERSIV in the Immersion Cooling Fluids Market for EVs
5.3.2.4.1.2 Product Portfolio
5.3.2.4.2 Analyst View
5.3.3 Other Key Companies
5.4 Customer Outlook: Electric Vehicle Manufacturers 
5.4.1 Tesla Inc.
5.4.1.1 Company Overview
5.4.1.2 Electric Vehicle Production
5.4.1.3 Product Overview
5.4.2 Volkswagen AG
5.4.2.1 Company Overview
5.4.2.2 Electric Vehicle Production
5.4.2.3 Product Overview
5.4.3 SAIC Motors
5.4.3.1 Company Overview
5.4.3.2 Electric Vehicle Production
5.4.3.3 Product Overview
5.4.4 BYD Co. Ltd.
5.4.4.1 Company Overview
5.4.4.2 Electric Vehicle Production
5.4.4.3 Product Overview
5.4.5 Stellantis N.V.
5.4.5.1 Company Overview
5.4.5.2 Electric Vehicle Production
5.4.5.3 Product Overview
5.4.6 General Motors
5.4.6.1 Company Overview
5.4.6.2 Electric Vehicle Production
5.4.6.3 Product Overview
5.4.7 Ford Motor Company
5.4.7.1 Company Overview
5.4.7.2 Electric Vehicle Production
5.4.7.3 Product Overview
5.4.8 Hyundai Motor Company
5.4.8.1 Company Overview
5.4.8.2 Electric Vehicle Production
5.4.8.3 Product Overview
5.4.9 Honda Motor Co., Ltd.
5.4.9.1 Company Overview
5.4.9.2 Electric Vehicle Production
5.4.9.3 Product Overview
5.4.10 Groupe Renault
5.4.10.1 Company Overview
5.4.10.2 Electric Vehicle Production
5.4.10.3 Product Overview
5.4.11 Toyota Motor Corporation
5.4.11.1 Company Overview
5.4.11.2 Electric Vehicle Production
5.4.11.3 Product Overview
5.4.12 Bayerische Motoren Werke AG
5.4.12.1 Company Overview
5.4.12.2 Electric Vehicle Production
5.4.12.3 Product Overview

6 Research Methodology
6.1 Data Sources
6.1.1 Primary Data Sources
6.1.2 Secondary Data Sources
6.2 Data Triangulation
6.3 Market Estimation and Forecast
6.3.1 Factors for Data Prediction and Modeling

List of Figures
Figure 1: Immersion Cooling Fluids Market for EVs Overview, Million Liters, 2021-2032
Figure 2: Immersion Cooling Fluids Market for EVs (by Vehicle Type), Million Liters, 2021-2032
Figure 3: Immersion Cooling Fluids Market for EVs (by Propulsion Type), Million Liters, 2021-2032
Figure 4: Immersion Cooling Fluids Market for EVs (by Application), Million Liters, 2022, 2026, and 2032
Figure 5: Immersion Cooling Fluids Market for EVs (by Product Type), Million Liters, 2021-2032
Figure 6: Immersion Cooling Fluids Market for EVs (by Chemistry), Million Liters, 2021-2032
Figure 7: Immersion Cooling Fluids Market for EVs (by Region), Value, $Million, 2021
Figure 8: Immersion Cooling Fluids Market for EVs: Coverage
Figure 9: Electric Vehicle Trends: Current and Future
Figure 10: Immersion Cooling Fluids Market for EVs Supply Chain Analysis
Figure 11: Stakeholders in Immersion Cooling Fluids Market for EVs
Figure 12: Base Oil Groups for Immersion Cooling Fluid
Figure 13: Business Dynamics for Immersion Cooling Fluids Market for EVs
Figure 14: Driving Range of Various Electric Vehicles
Figure 15: Components in an EV Battery
Figure 16: Key Business Strategies, 2020-2022
Figure 17: Product Development (by Company), 2020-2022
Figure 18: Key Corporate Strategies, 2020-2022
Figure 19: Partnerships, Joint Ventures, Collaborations, and Alliances (by Company), 2020-2022
Figure 20: Coolants in EV Charging Cables
Figure 21: Timeline for Autonomous Vehicles
Figure 22: Immersion Cooling Fluids Market for EVs (by Vehicle Type)
Figure 23: Immersion Cooling Fluids Market for EVs (by Propulsion Type)
Figure 24: Component Structures for HEVs, PHEVs, and BEVs
Figure 25: Immersion Cooling Fluids Market for EVs (by Application)
Figure 26: Immersion Cooling Fluids Market for EVs (Passenger Vehicles), $Million and Million Liters, 2021-2032
Figure 27: Immersion Cooling Fluids Market for EVs (Light Commercial Vehicles), $Million and Million Liters, 2021-2032
Figure 28: Immersion Cooling Fluids Market for EVs (Heavy Commercial Vehicles), $Million and Million Liters, 2021-2032
Figure 29: Immersion Cooling Fluids Market for EVs (Battery Electric Vehicles), $Million and Million Liters, 2021-2032
Figure 30: Immersion Cooling Fluids Market for EVs (Hybrid Electric Vehicles), $Million and Million Liters, 2021-2032
Figure 31: Immersion Cooling Fluids Market for EVs (Plug-in Hybrid Electric Vehicles), $Million and Million Liters, 2021-2032
Figure 32: Immersion Cooling Fluids Market for EVs (EV Batteries), $Million and Million Liters, 2021-2032
Figure 33: Immersion Cooling Fluids Market for EVs (EV Motors), $Million and Million Liters, 2021-2032
Figure 34: Immersion Cooling Fluids Market for EVs (Power Electronics), $Million and Million Liters, 2021-2032
Figure 35: Immersion Cooling Fluids Market for EVs (by Product Type)
Figure 36: Immersion Cooling Fluids Market for EVs (by Chemistry)
Figure 37: Immersion Cooling Fluids Market for EVs (Single-Phase Coolant), $Million and Million Liters, 2021-2032
Figure 38: Immersion Cooling Fluids Market for EVs (Two-Phase Coolant), $Million and Million Liters, 2021-2032
Figure 39: Immersion Cooling Fluids Market for EVs (Mineral Oils), $Million and Million Liters, 2021-2032
Figure 40: Immersion Cooling Fluids Market for EVs (Synthetic Oils and Esters), $Million and Million Liters, 2021-2032
Figure 41: Immersion Cooling Fluids Market for EVs Opportunity Matrix (by Region), $Million
Figure 42: Immersion Cooling Fluids Market for EVs Opportunity Matrix (by Product Type), $Million
Figure 43: Immersion Cooling Fluids Market for EVs Opportunity Matrix (by Chemistry), $Million
Figure 44: Global Pricing Analysis (by Product Type), $USD/Liter, 2021-2032
Figure 45: Technology Roadmap for Electric Vehicles
Figure 46: Competitive Benchmarking in North America, 2021
Figure 47: North America Immersion Cooling Fluids Market for EVs, $Million and Million Liters, 2021-2032
Figure 48: Competitive Benchmarking in Europe, 2021
Figure 49: Europe Immersion Cooling Fluids Market for EVs, $Million and Million Liters, 2021-2032
Figure 50: Competitive Benchmarking in U.K., 2021
Figure 51: U.K. Immersion Cooling Fluids Market for EVs, $Million and Million Liters, 2021-2032
Figure 52: Competitive Benchmarking in China, 2021
Figure 53: China Immersion Cooling Fluids Market for EVs, $Million and Thousand Liters, 2021-2032
Figure 54: Competitive Benchmarking in Asia-Pacific and Japan, 2021
Figure 55: Asia-Pacific and Japan Immersion Cooling Fluids Market for EVs, $Million and Thousand Liters, 2021-2032
Figure 56: Competitive Benchmarking in Rest-of-the-World, 2021
Figure 57: Rest-of-the-World Immersion Cooling Fluids Market for EVs, $Thousand and Thousand Liters, 2021-2032
Figure 58: Competitive Benchmarking, 2021
Figure 59: FUCHS: R&D Expenditure, $Million, 2019-2021
Figure 60: 3M: R&D Expenditure, $Billion, 2019-2021
Figure 61: Shell plc: R&D Expenditure, $Million, 2019-2021
Figure 62: TotalEnergies SE: R&D Expenditure, $Million, 2019-2021
Figure 63: LANXESS: R&D Expenditure, $Million, 2019-2021
Figure 64: MAHLE GmbH: R&D Expenditure, $Million, 2019-2021
Figure 65: Electric Vehicle Production: Tesla Inc., 2019-2021
Figure 66: Electric Vehicle Production: Volkswagen AG, 2019-2021
Figure 67: Electric Vehicle Production: SAIC Motors, 2019-2021
Figure 68: Electric Vehicle Production: BYD Co. Ltd., 2019-2021
Figure 69: Electric Vehicle Production: Stellantis N.V., 2019-2021
Figure 70: Electric Vehicle Production: General Motors, 2019-2021
Figure 71: Electric Vehicle Production: Ford Motor Company, 2019-2021
Figure 72: Electric Vehicle Production: Hyundai Motor Company, 2019-2021
Figure 73: Electric Vehicle Production: Honda Motor Co., Ltd., 2019-2021
Figure 74: Electric Vehicle Production: Groupe Renault, 2019-2021
Figure 75: Electric Vehicle Production: Toyota Motor Corporation, 2019-2021
Figure 76: Electric Vehicle Production: Bayerische Motoren Werke AG, 2019-2021
Figure 77: Research Methodology
Figure 78: Data Triangulation
Figure 79: Top-Down and Bottom-Up Approach
Figure 80: Assumptions and Limitations

List of Tables
Table 1: Immersion Cooling Fluids Market for EVs Overview
Table 2: Need to Use Immersion Cooling Technology
Table 3: Comparative Analysis: Liquid Cooling Vs. Immersion Cooling
Table 4: Government Initiatives for Electric Vehicles
Table 5: Programs by Research Institutions and Universities
Table 6: Key Patent Mapping for Immersion Colling Fluids Market for EVs

Executive Summary

The global immersion cooling fluids market for EVs was valued at $206.9 million in 2021, and it is expected to grow with a CAGR of 30.56% to reach $3.81 billion by 2032.

The research study focuses on putting forward a clear picture of the current consumption and future growth potential of immersion cooling fluids for EVs. Numerous leading automotive OEMs have partnered with EV fluid manufacturers for immersion cooling fluids within electric vehicles. As governments across the world are starting to implement plans for increasing electric vehicle sales and phasing-out IC engine vehicles in their respective countries, the market for immersion cooling fluids for electric vehicles is also bound to expand.  However, certain technical challenges, such as higher cost and the viability of developing immersion cooling battery systems, are restraining the growth of the immersion cooling fluids market for EVs.

USP of the Report

  • Extensive competitive benchmarking of the players (immersion cooling fluids manufacturers and immersion cooling system manufacturers) to offer a holistic view of the immersion cooling fluids market for EVs  landscape
  • 15 company profiles, including Immersion cooling fluids manufacturers and immersion cooling system manufacturers
  • Market ranking analysis based on product portfolio, recent developments, and regional spread
  • Segmentation by product type, chemistry, application, propulsion type, and vehicle type provided in the report
  • Market share analysis of key players in the immersion cooling fluids market for EVs 

Analyst Perspective

According to Dhrubajyoti Narayan, Principal Analyst at the publisher states 'The immersion cooling fluids market for EVs is in the early stage and is expected to grow substantially in the forecast period. The rapid ongoing research and development activities are pushing the market growth significantly. Immersion cooling fluids producers are partnering with immersion cooling system manufacturers to enhance the performance of electric vehicle battery systems by optimizing fluid and hardware. A surge in battery electric vehicle sales growth is anticipated to boost the immersion cooling fluids market for EVs growth in the forecast period.'

Key Questions Answered in the Report

  • What are immersion cooling fluids that are used in an electric vehicle?
  • What are the key business opportunities in the global immersion cooling fluids market for EVs?
  • What new strategies are being adopted by the existing market players to strengthen their market position in the industry?
  • For a new company looking to enter the global immersion cooling fluids market for EVs, what areas could it focus on to stay ahead of the competition?
  • Who should buy this report?

Companies Mentioned

  • 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 AG

Table Information