DataString Consulting Company Logo
DataString Consulting Company Logo
Immersion Cooling Market
Home»Recent Reports»Immersion Cooling Market

Immersion Cooling Market

Author: Chandra Mohan - Sr. Industry Consultant, Report ID - DS2405028, Published - August 2025

Segmented in Cooling Technique (Single-phase, Two-phase), Applications (Data Centers, High-Performance Computing, Edge Computing, Cryptocurrency Mining, Others), Technology, Customer Type and Regions - Global Industry Analysis, Size, Share, Trends, and Forecast 2024 – 2034

Share this report:

Global Immersion Cooling Market Outlook

The market for Immersion Cooling was estimated at $889.5 million in 2024; it is anticipated to increase to $1.9 billion by 2030, with projections indicating growth to around $3.4 billion by 2035. This expansion represents a compound annual growth rate (CAGR) of 13.1% over the forecast period. The Immersion Cooling market demonstrates strong growth because it has become essential for modern digital operations. The market growth stems mainly from rising requirements for efficient cooling solutions across data centers and high-performance computing and cryptocurrency mining operations. The adoption of Immersion Cooling technology continues to grow because organizations need to save energy while reducing costs and maximizing space utilization in these sectors.


The high-efficiency cooling solution of Immersion Cooling requires electronic components or full servers to be submerged in a thermally conductive electrically insulating liquid. The solution stands out because it provides high cooling efficiency together with reduced energy consumption and longer hardware lifespan. The solution finds its main use in data centers and edge computing and AI applications because thermal management plays a vital role in these fields.


Market Size Forecast & Key Insights

2019
$889M2024
2029
$3.0B2034

Absolute Growth Opportunity = $2.2B

The Immersion Cooling market is projected to grow from $889.5 million in 2024 to $3.05 billion in 2034. This represents a CAGR of 13.1%, reflecting rising demand across Data Centers, High-Performance Computing (HPC) and Cryptocurrency Mining.

The Immersion Cooling market is set to add $2.2 billion between 2024 and 2034, with manufacturer targeting High-Performance Computing & Edge Computing Applications projected to gain a larger market share.

With Increasing demand for energy-efficient cooling solutions, and Advancements in high-performance computing, Immersion Cooling market to expand 242% between 2024 and 2034.

Opportunities in the Immersion Cooling Market

Technological Innovations in Immersion Cooling

The immersion cooling market will gain advantages from current technological advancements. Market growth will be driven by improvements in coolant materials and system designs. The market has an untapped segment because non-conductive coolants provide better cooling performance while maintaining electronic component safety.

Immersion Cooling in Data Centers and Immersion Cooling in High-Performance Computing

The worldwide expansion of data centers creates a substantial market opportunity for immersion cooling systems. Data centers are adopting immersion cooling technologies because they need to decrease their energy usage and boost operational performance. The cooling method provides data centers with an efficient and cost-effective solution to their heat management problems.

High-performance computing is another area where immersion cooling can find substantial application. The need for efficient cooling solutions in HPC environments is critical, given the immense heat generated by these systems. As HPC continues to evolve and expand, the demand for effective and efficient cooling solutions like immersion cooling is expected to increase.

Growth Opportunities in North America and Asia Pacific

Asia Pacific Outlook

The Asia Pacific region has emerged as a new center for Immersion Cooling technology with China and Japan taking the lead. The combination of digital transformation and rising data center numbers has created a strong market need for efficient cooling solutions. The market competition is fierce because local companies DCX The Liquid Cooling Company and Asperitas have achieved major market success. The main market drivers stem from cloud service adoption growth and AI and ML technology expansion and regional initiatives to decrease carbon emissions.

North America Outlook

The Immersion Cooling market in North America advances because of its tech giants and strong data center infrastructure. The regions dedication to energy efficiency and sustainable practices has accelerated the adoption of Immersion Cooling technology. The competitive market includes established companies Green Revolution Cooling and Submer which maintain their leadership through continuous innovation. The main driver of market expansion in this region stems from rising high-performance computing requirements across healthcare and finance and IT sectors.

North America Outlook

The Immersion Cooling market in North America advances because of its tech giants and strong data center infrastructure. The regions dedication to energy efficiency and sustainable practices has accelerated the adoption of Immersion Cooling technology. The competitive market includes established companies Green Revolution Cooling and Submer which maintain their leadership through continuous innovation. The main driver of market expansion in this region stems from rising high-performance computing requirements across healthcare and finance and IT sectors.

Asia Pacific Outlook

The Asia Pacific region has emerged as a new center for Immersion Cooling technology with China and Japan taking the lead. The combination of digital transformation and rising data center numbers has created a strong market need for efficient cooling solutions. The market competition is fierce because local companies DCX The Liquid Cooling Company and Asperitas have achieved major market success. The main market drivers stem from cloud service adoption growth and AI and ML technology expansion and regional initiatives to decrease carbon emissions.

Growth Opportunities in North America and Asia Pacific

Established and Emerging Market's Growth Trend 2025–2034

1

Major Markets : U.S., China, Germany, Japan, UK are expected to grow at 11.8% to 15.7% CAGR

2

Emerging Markets : Brazil, South Africa, Indonesia are expected to grow at 9.2% to 13.8% CAGR

Market Analysis Chart

The immersion cooling market is experiencing significant growth, driven by several key factors. The primary driver is the increasing demand for energy-efficient cooling solutions in data centers. As data centers continue to expand globally, the need for efficient cooling systems to manage heat generated by high-performance servers is becoming more critical. Immersion cooling offers a highly efficient solution, reducing energy consumption and operational costs. Another significant driver is the rapid advancements in technology, particularly in the fields of AI and ML.

Recent Developments and Technological Advancement

December 2024

Green Revolution Cooling, a leading provider in the Immersion Cooling market, launched a new line of eco-friendly cooling solutions, leveraging advanced Immersion Cooling technology to reduce energy consumption and carbon footprint

October 2024

Submer Technologies, a prominent player in the Immersion Cooling industry, announced a strategic partnership with a multinational tech firm to integrate Immersion Cooling systems in their data centers, aiming to enhance efficiency and sustainability

August 2024

Engineered Fluids, a renowned manufacturer in the Immersion Cooling sector, secured a significant investment for the expansion of their Immersion Cooling product portfolio, marking a significant milestone in theindustry'sgrowth trajectory.

Immersion Cooling, a cutting-edge technology that has gained significant traction in recent years, is transforming the way we cool our electronic devices. This innovative method, which involves submerging electronic components in a thermally conductive, non-electrically conductive liquid, is revolutionizing industries from data centers to electric vehicle manufacturing.

Impact of Industry Transitions on the Immersion Cooling Market

As a core segment of the Battery industry, the Immersion Cooling market develops in line with broader industry shifts. Over recent years, transitions such as Emergence of High-Performance Computing and Rise of Cryptocurrency Mining have redefined priorities across the Battery sector, influencing how the Immersion Cooling market evolves in terms of demand, applications and competitive dynamics. These transitions highlight the structural changes shaping long-term growth opportunities.

1

Emergence of High-Performance Computing:

High-Performance Computing technology has brought major changes to the Immersion Cooling market. The need for efficient cooling solutions in HPC systems has resulted in higher adoption rates of Immersion Cooling technologies. The industry transformation of Immersion Cooling has affected both the Immersion Cooling market and the HPC-dependent sectors of scientific research and financial services and weather forecasting. The implementation of Immersion Cooling in these sectors has resulted in better performance and lower energy usage and longer equipment lifespan which drives the Immersion Cooling market expansion.

2

Rise of Cryptocurrency Mining:

The surge in cryptocurrency mining activities has necessitated the need for advanced cooling solutions, leading to a rise in the use of Immersion Cooling systems. Cryptocurrency mining generates a significant amount of heat, which if not only properly managed, can lead to hardware failure. Immersion Cooling, with its superior cooling capabilities, has emerged as a preferred solution in this domain.

Global Events Shaping Future Growth

The chart below highlights how external events including emerging market developments, regulatory changes, and technological disruptions, have added another layer of complexity to the Battery industry. These events have disrupted supply networks, changed consumption behavior, and reshaped growth patterns. Together with structural industry transitions, they demonstrate how changes within the Battery industry cascade into the Immersion Cooling market, setting the stage for its future growth trajectory.

Market Dynamics and Supply Chain

Driver: Increasing Demand for Energy-Efficient Cooling Solutions, and Growth in Cryptocurrency Mining

The global market for immersion cooling is also being driven by the increasing demand for energy-efficient cooling solutions. The expansion of data centers has also made it essential to develop effective and efficient cooling systems. The growing market demand for energy-efficient cooling solutions can also be met by immersion cooling systems because they offer high thermal efficiency and low energy consumption. The liquid coolant in these systems directly absorbs component heat which eliminates the requirement for air conditioning systems and results in energy savings. The immersion cooling market will also experience substantial growth because of the increasing focus on energy efficiency.
The rise of cryptocurrency mining has also led to a surge in demand for immersion cooling systems. Cryptocurrency mining involves solving complex mathematical problems, which requires powerful computers that generate a lot of heat.
High-performance computing is also another major of the immersion cooling market. HPC systems generate significant amounts of heat, which traditional air-cooling methods struggle to dissipilate effectively. Immersion cooling, with its superior heat removal capabilities, is also increasingly being adopted for HPC applications. Furthermore, advancements in HPC technologies, such as the development of exascale computers, are also expected to further increase the demand for immersion cooling solutions.

Restraint: High Initial Investment

The deployment of immersion cooling solutions demands substantial upfront financial resources. The high initial expenses function as a significant barrier that prevents numerous potential users from adopting this technology especially affecting smaller businesses and startups. The high cost stems from specialized equipment requirements and necessary infrastructure changes to support liquid cooling systems. The need for ongoing maintenance together with possible expensive repairs increases total expenses which affects market demand and dynamics.

Challenge: Lack of Awareness and Technical Expertise

Despite the numerous benefits of immersion cooling, there is a general lack of awareness about this technology, particularly in emerging markets. This is further compounded by a shortage of technical expertise needed to install, operate, and maintain these systems. As a result, many potential users may be hesitant to adopt immersion cooling solutions, thereby restraining market growth.

Supply Chain Landscape

Raw Material Procurement

3M

Honeywell International

Component Manufacturing

Green Revolution Cooling

Midas Green Technologies

System Assembly
Allied Control / LiquidCool Solutions
Distribution & End-User
Data Centers / High-Performance Computing / Artificial Intelligence
Raw Material Procurement

3M

Honeywell International

Component Manufacturing

Green Revolution Cooling

Midas Green Technologies

System Assembly

Allied Control

LiquidCool Solutions

Distribution & End-User

Data Centers

High-Performance Computing

Artificial Intelligence

Banner LogoBanner Logo

Leading Providers and Their Strategies

Application AreaIndustryLeading Providers / ConsumersProvider Strategies
Data Centers
Information Technology
Green Revolution Cooling (GRC)
GRC focuses on providing energy-efficient and cost-effective solutions by using immersion cooling technology in data centers
High-Performance Computing (HPC)
Scientific Research
Submer Technologies
Submer Technologies emphasizes on sustainability and high performance, integrating immersion cooling in HPC environments
Cryptocurrency Mining
Finance
Allied Control
Allied Control leverages immersion cooling to enhance the efficiency and longevity of cryptocurrency mining hardware
Electric Vehicle (EV) Battery Cooling
Automotive
3M
3M utilizes immersion cooling technology for efficient thermal management in EV batteries, ensuring safety and performance

Elevate your strategic vision with in-depth analysis of key applications, leading market players, and their strategies. The report analyzes industry leaders' views and statements on the Immersion Cooling market's present and future growth.

Our research is created following strict editorial standards. See our Editorial Policy

Applications of Immersion Cooling in High-Performance Computing (HPC), Cryptocurrency Mining and Data Centers

High-Performance Computing (HPC)

High-performance computing is another significant application of immersion cooling. The high thermal conductivity of liquid coolants provides efficient cooling for powerful processors, making single-phase immersion cooling a popular choice in this sector. Companies like Asperitas and Iceotope are leading the market in this application with their advanced cooling solutions and robust market positioning.

Cryptocurrency Mining

In the world of cryptocurrency mining, immersion cooling has emerged as a viable solution to manage the heat produced by mining hardware. The use of two-phase immersion cooling is common in this application due to its high cooling efficiency and lower energy consumption. BitFury and Allied Control are among the top players in this application, recognized for their superior cooling solutions and strategic market position.

Data Centers

Immersion cooling is widely utilized in data centers due to its high efficiency and lower environmental impact. This method uses liquid coolants to absorb the heat generated by the servers, making it an effective solution for high-density computing environments. Two-phase immersion cooling is predominantly used in this application, as it allows for better heat dissipation. Top players in this segment include Green Revolution Cooling and Submer Technologies, known for their innovative solutions and strong market presence.

Immersion Cooling vs. Substitutes:
Performance and Positioning Analysis

Immersion Cooling, superior in energy efficiency and thermal management, outperforms traditional air and liquid cooling solutions. Its unique market positioning lies in its potential to revolutionize high-density computing, fostering significant market growth. These Alternatives specially Machine Cooling Systems has experienced a rapid growth as detailed in our latest report.

Immersion Cooling
    High energy efficiency, increased hardware lifespan
    High initial setup cost, complexity in maintenance
    High energy efficiency, lower operational costs
    High initial setup costs, requirement of specialized maintenance

Immersion Cooling vs. Substitutes:
Performance and Positioning Analysis

Immersion Cooling

  • High energy efficiency, increased hardware lifespan
  • High initial setup cost, complexity in maintenance

Machine Cooling Systems / Liquid Cooling Systems / Thermoelectric Cooling Technologies

  • High energy efficiency, lower operational costs
  • High initial setup costs, requirement of specialized maintenance

Immersion Cooling, superior in energy efficiency and thermal management, outperforms traditional air and liquid cooling solutions. Its unique market positioning lies in its potential to revolutionize high-density computing, fostering significant market growth. These Alternatives specially Machine Cooling Systems has experienced a rapid growth as detailed in our latest report.

Loading...

Research Methodology

This market research methodology defines the Immersion Cooling market scope, gathers reliable data, and validates findings using integrated primary and secondary research. Our systematic framework ensures precise market sizing, growth trend analysis, and competitive benchmarking.


Secondary Research Approach


We begin secondary research by defining the targeted market at macro and micro levels. As part of the Battery ecosystem, we analyze Immersion Cooling across Data Centers, High-Performance Computing, and Edge Computing Applications. Our team gathers data systematically from country level ministerial sources, industry associations & federations, trade databases, company annual & quarterly reports and other credential sources, enabling us to map global and regional market size, pricing trends, regulatory standards, and technology advancements.



Key Sources Referenced:

Statistical Review of World Energy - Energy Institute

EIA / EIA STEO / IEA

JODI data

UN Data

IRENA - Renewable Energy

JRC - Europe Power Plants

US Power Sector - Form 860

Annual Reports / Industry Magazines / Country Level Ministerial Sources

We benchmark competitors such as Allied Control Ltd., Green Revolution Cooling Inc., and LiquidStack Ltd. by reviewing company financial statements, and regulatory filings. Our secondary insights identify key market drivers and constraints, forming the analytical foundation for primary research.


Primary Research Methods


We conduct structured interviews and surveys with industry stakeholders, including Raw Material Procurement, Component Manufacturing, and System Assembly. Our geographic coverage spans Americas (40%), Europe (30%), Asia-Pacific (25%) and Middle East & Africa (5%). Our online surveys generally achieve a response rate of above 65%, and telephone interviews yield 60%, resulting in above 92% confidence level with a ±7% margin of error.


Through targeted questionnaires and in-depth interviews, we capture purchase intent, adoption barriers, brand perception across Segment Type. We use interview guides to ensure consistency and anonymous survey options to mitigate response bias. These primary insights validate secondary findings and align market sizing with real-world conditions.


Market Engineering & Data Analysis Framework


Our data analysis framework integrates Top-Down, Bottom-Up, and Company Market Share approaches to estimate and project market size with precision.


Top-down & Bottom-Up Process


In Top-down approach, we disaggregate global Battery revenues to estimate the Immersion Cooling segment, using historical growth patterns to set baseline trends. Simultaneously, in Bottom-up approach, we aggregate Country-Level Demand Data to derive regional and global forecasts, which provide granular consumption insights. By reconciling both approaches, we ensure statistical precision and cross-validation accuracy.


We evaluate the supply chain, spanning Raw Material Procurement (3M, Honeywell International), Component Manufacturing (Green Revolution Cooling, Midas Green Technologies), and System Assembly. Our parallel substitute analysis examines Machine Cooling Systems, Liquid Cooling Systems, and Thermoelectric Cooling Technologies, highlighting diversification opportunities and competitive risks.


Company Market Share & Benchmarking


We benchmark leading companies such as Allied Control Ltd., Green Revolution Cooling Inc., and LiquidStack Ltd., analyzing their capabilities in pricing, product features, technology adoption, and distribution reach. By assessing company-level revenues and product portfolios, we derive market share comparisons, clarifying competitive positioning and growth trajectories across the ecosystem.


Our integration of data triangulation, supply chain evaluation, and company benchmarking, supported by our proprietary Directional Superposition methodology enables us to deliver precise forecasts and actionable strategic insights into the Immersion Cooling market.


Quality Assurance and Compliance


We cross-reference secondary data with primary inputs and external expert reviews to confirm consistency. Further, we use stratified sampling, anonymous surveys, third-party interviews, and time-based sampling to reduce bias and strengthen our results.


Our methodology is developed in alignment with ISO 20252 standards and ICC/ESOMAR guidelines for research ethics. The study methodology follows globally recognized frameworks such as ISO 20252 and ICC codes of practice.

rm

Immersion Cooling Market Data: Size, Segmentation & Growth Forecast

Report AttributeDetails
Market Value in 2025USD 1.01 billion
Revenue Forecast in 2034USD 3.05 billion
Growth RateCAGR of 13.1% from 2025 to 2034
Base Year for Estimation2024
Industry Revenue 2024889 million
Growth OpportunityUSD 2.2 billion
Historical Data2019 - 2023
Growth Projection / Forecast Period2025 - 2034
Market Size UnitsMarket Revenue in USD million and Industry Statistics
Market Size 2024889 million USD
Market Size 20271.29 billion USD
Market Size 20291.65 billion USD
Market Size 20301.86 billion USD
Market Size 20343.05 billion USD
Market Size 20353.45 billion USD
Report CoverageMarket revenue for past 5 years and forecast for future 10 years, Competitive Analysis & Company Market Share, Strategic Insights & trends
Segments CoveredCooling Technique, Applications, Technology, Customer Type
Regional scopeNorth America, Europe, Asia Pacific, Latin America and Middle East & Africa
Country scopeU.S., Canada, Mexico, UK, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE and South Africa
Companies ProfiledAllied Control Ltd., Green Revolution Cooling Inc., LiquidStack Ltd., Midas Green Technologies LLC., Submer Technologies, Asperitas, Iceotope Technologies Ltd., Fujitsu Ltd., Engineered Fluids, Qcooling, Rittal GmbH & Co. KG. and Chilldyne Inc.
CustomizationFree customization at segment, region or country scope and direct contact with report analyst team for 10 to 20 working hours for any additional niche requirement which is almost equivalent to 10% of report value

Explore Report Features and Data Packages

Industry Insight Report

$ 4200
Unlock Multi-User Access for just $999 more
i
No Payment Before Report Delivery
Flexible Payment Options
Additional Features
Customization Available
i
Excel Data Pack Included
Free Analyst Support
i
Industry Expert-Validated Insights
100% Confidentiality Guaranteed
Fast Delivery (24–72 hours)
i
Get Report Now

Strategic Growth Advisory

Unrivaled Custom Market Intelligence & Strategic Advisory for Business Growth and Competitive Excellence

  • Assess and prioritize high-value markets with precision
  • Craft tailored entry and expansion roadmaps
  • De-risk investments through rigorous market intelligence
  • Architect dynamic pricing frameworks aligned to value creation
  • Unlock sustainable margin enhancement opportunities
  • Benchmark performance against global industry leaders
  • Strategically realign portfolios to future growth drivers
  • Accelerate commercialization of breakthrough offerings
  • Harness market foresight and technology shifts to fuel innovation

Discover our Strategic Growth Advisory Services »

Table of Contents

Industry Insights Report - Table Of Contents

Chapter 1

Executive Summary

Major Markets & Their Performance - Statistical Snapshots

Chapter 2

Research Methodology

2.1Axioms & Postulates
2.2Market Introduction & Research MethodologyEstimation & Forecast Parameters / Major Databases & Sources
Chapter 3

Market Dynamics

3.1Market OverviewDrivers / Restraints / Opportunities / M4 Factors
3.2Market Trends
3.2.1Introduction & Narratives
3.2.2Market Trends - Impact Analysis(Short, Medium & Long Term Impacts)
3.3Supply Chain Analysis
3.4Porter's Five ForcesSuppliers & Buyers' Bargaining Power, Threat of Substitution & New Market Entrants, Competitive Rivalry
Chapter 4

Immersion Cooling Market Size, Opportunities & Strategic Insights, by Cooling Technique

4.1Single-phase
4.2Two-phase
Chapter 5

Immersion Cooling Market Size, Opportunities & Strategic Insights, by Applications

5.1Data Centers
5.2High-Performance Computing
5.3Edge Computing
5.4Cryptocurrency Mining
5.5Others
Chapter 6

Immersion Cooling Market Size, Opportunities & Strategic Insights, by Technology

6.1Fluorocarbon-based
6.2Mineral Oil-based
Chapter 7

Immersion Cooling Market Size, Opportunities & Strategic Insights, by Customer Type

7.1Small & Medium Enterprises
7.2Large Enterprises
Chapter 8

Immersion Cooling Market, by Region

8.1North America Immersion Cooling Market Size, Opportunities, Key Trends & Strategic Insights
8.1.1U.S.
8.1.2Canada
8.2Europe Immersion Cooling Market Size, Opportunities, Key Trends & Strategic Insights
8.2.1Germany
8.2.2France
8.2.3UK
8.2.4Italy
8.2.5The Netherlands
8.2.6Rest of EU
8.3Asia Pacific Immersion Cooling Market Size, Opportunities, Key Trends & Strategic Insights
8.3.1China
8.3.2Japan
8.3.3South Korea
8.3.4India
8.3.5Australia
8.3.6Thailand
8.3.7Rest of APAC
8.4Middle East & Africa Immersion Cooling Market Size, Opportunities, Key Trends & Strategic Insights
8.4.1Saudi Arabia
8.4.2United Arab Emirates
8.4.3South Africa
8.4.4Rest of MEA
8.5Latin America Immersion Cooling Market Size, Opportunities, Key Trends & Strategic Insights
8.5.1Brazil
8.5.2Mexico
8.5.3Rest of LA
8.6CIS Immersion Cooling Market Size, Opportunities, Key Trends & Strategic Insights
8.6.1Russia
8.6.2Rest of CIS
Chapter 9

Competitive Landscape

9.1Competitive Dashboard & Market Share Analysis
9.2Company Profiles (Overview, Financials, Developments, SWOT)
9.2.1Allied Control Ltd.
9.2.2Green Revolution Cooling Inc.
9.2.3LiquidStack Ltd.
9.2.4Midas Green Technologies LLC.
9.2.5Submer Technologies
9.2.6Asperitas
9.2.7Iceotope Technologies Ltd.
9.2.8Fujitsu Ltd.
9.2.9Engineered Fluids
9.2.10Qcooling
9.2.11Rittal GmbH & Co. KG.
9.2.12Chilldyne Inc.