Immersion Cooling for EV Batteries Market Size by 2030
The immersion cooling for EV batteries market size is projected to reach US$ 156.90 million by 2030 from US$ 1.23 million in 2022. The market is expected to register a CAGR of 91.1% during 2026–2030. The growing demand for advanced battery solutions for electric vehicles and the rising investments in the electric vehicles market are likely to remain key trends in the market.
Immersion Cooling for EV Batteries Market Analysis
The growing demand for electric vehicles is fuelling the market growth. The government-focused, initiatives and investment in the electric vehicle market propels the market growth. Demand for high-capacity and sustainable battery solutions generates the demand for immersion cooling for EV batteries. The rising awareness regarding the advantages of immersion cooling creates growth opportunities for the market.
Immersion Cooling for EV Batteries Market Overview
Immersion cooling for electric vehicle batteries might offer a better approach to heat management and enable benefits ranging from extended battery life, faster charging, and safer operation to lighter batteries in EVs and hybrid vehicles. The EV battery generates a high quantity of heat during the charging and discharging. The heat generation rate can range from 20% to 80%, particularly during charging. The performance of an EV's battery is highly thermally coupled and is raising the need for more efficient thermal management systems, such as immersion cooling for EV batteries. Immersion cooling is a process where battery cells and components are cooled more effectively by submerging them in a dielectric coolant fluid. It also enables cells to be packaged more closely, increasing energy density while removing the extensive coolant channels and cold plates.
In comparison to passive air cooling, immersion cooling can improve the heat transfer rate by -10,000 times. In two-phase immersion cooling systems, the high heat transfer performance is achieved through the latent neat evaporation of the dielectric fluid's liquid-to-gas phase transition and the resulting turbulent dual-phase fluid flow. Two-phase immersion cooling systems require added mechanical complexity and have concerns pertaining to the safety levels of fluids used. However, single-phase immersion cooling systems can offer up to 1,000 times better heat transfer than air-cooled systems; they also have a simpler build. These systems are yet to be commercially available on a large scale. Most of these systems are still in the research phase, which, once commercialized, is expected to witness fast adoption rates.
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Immersion Cooling for EV Batteries Market: Strategic Insights
Market Size Value in US$ 1.23 million in 2022 Market Size Value by US$ 156.90 million by 2030 Growth rate CAGR of 91.1% from 2026 to 2030 Forecast Period 2022-2030 Base Year 2022
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Immersion Cooling for EV Batteries Market: Strategic Insights
| Market Size Value in | US$ 1.23 million in 2022 |
| Market Size Value by | US$ 156.90 million by 2030 |
| Growth rate | CAGR of 91.1% from 2026 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Immersion Cooling for EV Batteries Market Drivers and Opportunities
Demand for high-capacity battery
With the surging adoption of electric vehicles (EVs), the demand for high-capacity EV batteries is increasing worldwide. To cater to this demand, the original equipment manufacturers (OEMs) are continually working on the improvement of EV batteries, with an aim to achieve high energy density and rapid charging rates. For instance, in March 2023, researchers from POSTECH and Sogang University announced that they had developed a functional polymeric binder tor stable, high-capacity anode material, which can help to increase the current EV range by at least 10-fold. In this product, the researchers replaced graphite with Si anode and combined it with layering-charged polymers while maintaining stability and reliability.
Demand for a sustainable solution
With the growing concerns regarding the environment, the demand for sustainable solutions is also rising. Consumers and automakers are demanding sustainable battery solutions for EVS that deliver high performance and enhanced safety. To cater to this demand, the market players are engaged in research and development activities to launch innovative solutions, which further contribute to the immersion cooling for EV batteries market growth. For example, in August 2023, XING Mobility, a global pioneer of immersion cooling battery technology for industrial applications, announced the official release of its IMMERSIO Cell-to-Pack (CTP) product at the IAA Mobility Show in Munich, Germany. This innovative battery pack, which features high energy density and exceptional heat dissipation and safety features, will be presented for the first time to the global audience at the event.
Immersion Cooling for EV Batteries Market Report Segmentation Analysis
Key segments that contributed to the derivation of immersion cooling for EV batteries market analysis are the type and cooling fluid type.
- Based on the type, the immersion cooling for EV batteries market is divided into single-phase immersion cooling and two-phase immersion cooling. The single-phase immersion cooling segment held the largest share of the market in 2022.
- By cooling fluid type, the market is segmented into mineral oil, synthetic oil, and others. The synthetic oil segment held the largest share of the market in 2022.
Immersion Cooling for EV Batteries Market Share Analysis by Geography
The geographic scope of the immersion cooling for EV batteries market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America holds a significant global market share in 2022. The expected rise in the adoption of immersion cooling for EV batteries in this region can be credited to the growing EV sales and production in the region. Increasing adoption of EVs in the US, Canada, and Mexico will raise the need for efficient cooling systems, such as immersion cooling, fueling the market growth. The automotive sector in the region is witnessing tremendous growth due to the increasing capital growth and rising exports of automobiles.
Immersion Cooling for EV Batteries Market Report Scope
Immersion Cooling for EV Batteries Market News and Recent Developments
The immersion cooling for EV batteries market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the immersion cooling for EV batteries market are listed below:
- MAHLE, the specialist for thermal management, i.e., the heating and cooling of the vehicle interior and components, developed a completely new cooling system for batteries. Cooling is a major challenge, especially when it comes to fast-charging battery-powered electric vehicles. The Stuttgart-based automotive supplier relies on immersion cooling as a key technology. An electrically nonconductive coolant flows around the cells, thereby ensuring that the maximum temperature of the battery drops markedly during charging and that the overall temperature is distributed much more homogeneously. Immersion cooling shortens the charging times in electric cars considerably. The batteries can thus be smaller, making electric cars cheaper and more resource-efficient. With this technology, MAHLE made a further contribution to faster market penetration and broader acceptance of battery-powered e-mobility by consumers. (Source: MAHLE, Press Release, September 2021)
Immersion Cooling for EV Batteries Market Report Coverage and Deliverables
The "Immersion Cooling for EV Batteries Market Size and Forecast (2020–2030)" report provides a detailed analysis of the market covering below areas:
- Immersion cooling for EV batteries market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Immersion cooling for EV batteries market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter's Five Forces and SWOT analysis
- Immersion cooling for EV batteries market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the immersion cooling for EV batteries market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, and Cooling Fluid Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The estimated value of the immersion cooling for EV batteries market will be US$ 156.90 million by 2030.
The growing incorporation of immersion cooled batteries on road-going vehicles is a key trend in the immersion cooling for EV batteries market.
Ricardo Plc, Mahle GmbH, EXOES SAS, XING Mobility Inc, The Lubrizol Corp, SAE International, Rimac Technology Ltd, Cargill Inc, Engineered Fluids Inc, and M&I Materials Ltd are some of the key players operating in the immersion cooling for EV batteries market.
The growing demand for advanced battery solutions for electric vehicles and the rising investments in the electric vehicles market are the key driving factors impacting the immersion cooling for EV batteries market.
The global immersion cooling for EV batteries market is estimated to register a CAGR of 91.1% during the forecast period 2026–2030.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Immersion Cooling for EV Batteries Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in Value Chain:
5. Immersion Cooling for EV Batteries Market - Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increase in Demand for High-Capacity Batteries to Extend EV Driving Range
5.1.2 Growing Demand for Electric Vehicles
5.2 Market Restraints
5.2.1 Challenges Associated with Immersion Cooling
5.3 Market Opportunities
5.3.1 Advantages of Immersion Cooling
5.4 Future Trends
5.4.1 Growing Incorporation of Immersion-cooled Battery into Road-Going Vehicles
5.5 Impact Analysis of Drivers and Restraints
6. Immersion Cooling for EV Batteries Market - Global Market Analysis
6.1 Immersion Cooling for EV Batteries Market Overview
6.2 Immersion Cooling for EV Batteries Market Revenue (US$ Million), 2022 – 2030
6.3 Immersion Cooling for EV Batteries Market Forecast and Analysis
7. Immersion Cooling for EV Batteries Market Analysis - Type
7.1 Single-Phase Immersion Cooling
7.1.1 Overview
7.1.2 Single-Phase Immersion Cooling Market Revenue and Forecasts To 2030 (US$ Million)
7.2 Two-Phase Immersion Cooling
7.2.1 Overview
7.2.2 Two-Phase Immersion Cooling Market Revenue and Forecasts To 2030 (US$ Million)
8. Immersion Cooling for EV Batteries Market Analysis - Cooling Fluid Type
8.1 Mineral Oil
8.1.1 Overview
8.1.2 Mineral Oil Market Revenue and Forecasts To 2030 (US$ Million)
8.2 Synthetic Oil
8.2.1 Overview
8.2.2 Synthetic Oil Market Revenue and Forecasts To 2030 (US$ Million)
8.3 Others
8.3.1 Overview
8.3.2 Others Market Revenue and Forecasts To 2030 (US$ Million)
9. Immersion Cooling for EV Batteries Market - Geographical Analysis
9.1 North America
9.1.1 North America Immersion Cooling for EV Batteries Market Overview
9.1.2 North America Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.3 North America Immersion Cooling for EV Batteries Market Breakdown by Type
9.1.3.1 North America Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
9.1.4 North America Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
9.1.4.1 North America Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
9.1.5 North America Immersion Cooling for EV Batteries Market Revenue and Forecasts and Analysis - By Countries
9.1.5.1 US Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.5.1.1 US Immersion Cooling for EV Batteries Market Breakdown by Type
9.1.5.1.2 US Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
9.1.5.2 Rest of North America Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.5.2.1 Rest of North America Immersion Cooling for EV Batteries Market Breakdown by Type
9.1.5.2.2 Rest of North America Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
9.2 Europe
9.2.1 Europe Immersion Cooling for EV Batteries Market Overview
9.2.2 Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Mn)
9.2.3 Europe Immersion Cooling for EV Batteries Market Breakdown by Type
9.2.3.1 Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts and Analysis - By Type
9.2.4 Europe Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
9.2.4.1 Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts and Analysis - By Cooling Fluid Type
9.2.5 Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts and Analysis - By Countries
9.2.5.1 Germany Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Mn)
9.2.5.1.1 Germany Immersion Cooling for EV Batteries Market Breakdown by Type
9.2.5.1.2 Germany Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
9.2.5.2 France Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Mn)
9.2.5.2.1 France Immersion Cooling for EV Batteries Market Breakdown by Type
9.2.5.2.2 France Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
9.2.5.3 Italy Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Mn)
9.2.5.3.1 Italy Immersion Cooling for EV Batteries Market Breakdown by Type
9.2.5.3.2 Italy Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
9.2.5.4 UK Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Mn)
9.2.5.4.1 UK Immersion Cooling for EV Batteries Market Breakdown by Type
9.2.5.4.2 UK Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
9.2.5.5 Rest of Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Mn)
9.2.5.5.1 Rest of Europe Immersion Cooling for EV Batteries Market Breakdown by Type
9.2.5.5.2 Rest of Europe Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
9.3 Asia Pacific Immersion Cooling for EV Batteries Market
9.3.1 Overview
9.3.2 Asia Pacific Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Million)
9.3.3 Asia Pacific Immersion Cooling for EV Batteries Market Breakdown by Type
9.3.3.1 Asia Pacific Immersion Cooling for EV Batteries Market Revenue and Forecasts and Analysis - By Type
9.3.4 Asia Pacific Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
9.3.4.1 Asia Pacific Immersion Cooling for EV Batteries Market Revenue and Forecasts and Analysis - By Cooling Fluid Type
9.3.5 Asia Pacific Immersion Cooling for EV Batteries Market Breakdown by Countries
9.3.5.1 China Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Mn)
9.3.5.1.1 China Immersion Cooling for EV Batteries Market Breakdown by Type
9.3.5.1.2 China Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
9.3.5.2 India Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Mn)
9.3.5.2.1 India Immersion Cooling for EV Batteries Market Breakdown by Type
9.3.5.2.2 India Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
9.3.5.3 Japan Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Mn)
9.3.5.3.1 Japan Immersion Cooling for EV Batteries Market Breakdown by Type
9.3.5.3.2 Japan Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
9.3.5.4 South Korea Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Mn)
9.3.5.4.1 South Korea Immersion Cooling for EV Batteries Market Breakdown by Type
9.3.5.4.2 South Korea Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
9.3.5.5 Rest of Asia Pacific Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Mn)
9.3.5.5.1 Rest of Asia Pacific Immersion Cooling for EV Batteries Market Breakdown by Type
9.3.5.5.2 Rest of Asia Pacific Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
9.4 Rest of the World
9.4.1 Rest of the World Immersion Cooling for EV Batteries Market Overview
9.4.2 Rest of the World Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Million)
9.4.3 Rest of the World Immersion Cooling for EV Batteries Market Breakdown by Type
9.4.3.1 Rest of the World Immersion Cooling for EV Batteries Market and Forecasts and Analysis - By Type
9.4.4 Rest of the World Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
9.4.4.1 Rest of the World Immersion Cooling for EV Batteries Market and Forecasts and Analysis - By Cooling Fluid Type
9.4.5 Rest of the World Immersion Cooling for EV Batteries Market Revenue and Forecasts and Analysis - By Regions
9.4.5.1 Middle East & Africa Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Mn)
9.4.5.1.1 Middle East & Africa Immersion Cooling for EV Batteries Market Breakdown by Type
9.4.5.1.2 Middle East & Africa Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
9.4.5.2 South America Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Mn)
9.4.5.2.1 South America Immersion Cooling for EV Batteries Market Breakdown by Type
9.4.5.2.2 South America Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
10. Immersion Cooling for EV Batteries Market – Impact of COVID-19 Pandemic
10.1 Pre & Post Covid-19 Impact
11. Competitive Landscape
11.1 Heat Map Analysis By Key Players
11.2 Company Positioning & Concentration
12. Industry Landscape
12.1 Market Initiative
12.2 New Development
13. Company Profiles
13.1 Ricardo Plc
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Contribution to Immersion Cooling Technology for EV Batteries
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Mahle GmbH
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Contribution to Immersion Cooling Technology for EV Batteries
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 EXOES SAS
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Contribution to Immersion Cooling Technology for EV Batteries
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 XING Mobility Inc
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Contribution to Immersion Cooling Technology for EV Batteries
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 The Lubrizol Corp
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Contribution to Immersion Cooling Technology for EV Batteries
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 SAE International
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Contribution to Immersion Cooling Technology for EV Batteries
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Rimac Technology Ltd
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Contribution to Immersion Cooling Technology for EV Batteries
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Cargill Inc
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Contribution to Immersion Cooling Technology for EV Batteries
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Engineered Fluids Inc
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Contribution to Immersion Cooling Technology for EV Batteries
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 M&I Materials Ltd
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Contribution to Immersion Cooling Technology for EV Batteries
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 Word Index
List of Tables
Table 1. Immersion Cooling for EV Batteries Market Segmentation
Table 2. Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Million)
Table 3. Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Million) – Type
Table 4. Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Million) – Cooling Fluid Type
Table 5. North America Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 6. North America Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
Table 7. North America Immersion Cooling for EV Batteries Market, by Country – Revenue and Forecast to 2030 (USD Million)
Table 8. US Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 9. US Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
Table 10. Rest of North America Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 11. Rest of North America Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
Table 12. Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 13. Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
Table 14. Europe Immersion Cooling for EV Batteries Market, by Country – Revenue and Forecast to 2030 (USD Million)
Table 15. Germany Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 16. Germany Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
Table 17. France Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 18. France Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
Table 19. Italy Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 20. Italy Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
Table 21. UK Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 22. UK Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
Table 23. Rest of Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 24. Rest of Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
Table 25. Asia Pacific Immersion Cooling for EV Batteries Market Revenue And Forecasts To 2030 (US$ Million) – Type
Table 26. Asia Pacific Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Million) – Cooling Fluid Type
Table 27. Asia Pacific Immersion Cooling for EV Batteries Market, by Country – Revenue and Forecast to 2030 (USD Million)
Table 28. China Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 29. China Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
Table 30. India Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 31. India Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
Table 32. Japan Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 33. Japan Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
Table 34. South Korea Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 35. South Korea Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
Table 36. Rest of Asia Pacific Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 37. Rest of Asia Pacific Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
Table 38. Rest of the World Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Million) – By Type
Table 39. Rest of the World Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Million) – By Cooling Fluid Type
Table 40. Rest of the World Immersion Cooling for EV Batteries Market, by Region – Revenue and Forecast to 2030 (USD Million)
Table 41. Middle East & Africa Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 42. Middle East & Africa Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
Table 43. South America Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 44. South America Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
Table 45. Company Positioning & Concentration
Table 46. List of Abbreviation
List of Figures
Figure 1. Immersion Cooling for EV Batteries Market Segmentation, By Geography
Figure 2. Global– PEST Analysis
Figure 3. Ecosystem: Immersion Cooling for EV Batteries Market
Figure 4. Immersion Cooling for EV Batteries Market - Key Industry Dynamics
Figure 5. Immersion Cooling for EV Batteries Market: Impact Analysis of Drivers and Restraints
Figure 6. Immersion Cooling for EV Batteries Market Breakdown by Geography, 2022 and 2030 (%)
Figure 7. Immersion Cooling for EV Batteries Market Revenue (US$ Million), 2022 & 2030
Figure 8. Immersion Cooling for EV Batteries Market Share (%) – Type, 2022 and 2030
Figure 9. Single-Phase Immersion Cooling Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. Two-Phase Immersion Cooling Market Revenue and Forecasts To 2030 (US$ Million)
Figure 11. Immersion Cooling for EV Batteries Market Share (%) – Cooling Fluid Type, 2022 and 2030
Figure 12. Mineral Oil Market Revenue and Forecasts To 2030 (US$ Million)
Figure 13. Synthetic Oil Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 15. Immersion Cooling for EV Batteries Market Revenue Share, By Region (2022 & 2030)
Figure 16. North America Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 17. Immersion Cooling for EV Batteries Market Breakdown by Type (2022 and 2030)
Figure 18. North America Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type, 2022 and 2030 (%)
Figure 19. North America Immersion Cooling for EV Batteries Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 20. US Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 21. Rest of North America Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 22. Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 23. Europe Immersion Cooling for EV Batteries Market Breakdown by Type (2022 and 2030)
Figure 24. Europe Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type (2022 and 2030)
Figure 25. immersion cooling for EV batteries market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 26. Germany Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 27. France Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 28. Italy Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 29. UK Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 30. Rest of Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 31. Asia Pacific Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Million)
Figure 32. Asia Pacific Immersion Cooling for EV Batteries Market Breakdown by Type (2022 and 2023)
Figure 33. Asia Pacific Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type (2022 and 2023)
Figure 34. Asia Pacific Immersion Cooling for EV Batteries Market Breakdown By Key Countries, 2022 And 2030 (%)
Figure 35. China Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 36. India Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 37. Japan Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 38. South Korea Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 39. Rest of Asia Pacific Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 40. Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Million)
Figure 41. Rest of the World Immersion Cooling for EV Batteries Market Breakdown by Type (2022 and 2030)
Figure 42. Rest of the World Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type (2022 and 2023)
Figure 43. Immersion Cooling for EV Batteries Market Breakdown by Key Regions, 2022 and 2030 (%)
Figure 44. Middle East & Africa Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 45. South America Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 46. Heat Map Analysis By Key Players
The List of Companies - Immersion Cooling for EV Batteries Market
- Ricardo Plc
- Mahle GmbH
- EXOES SAS
- XING Mobility Inc
- The Lubrizol Corp
- SAE International
- Rimac Technology Ltd
- Cargill Inc
- Engineered Fluids Inc
- M&I Materials Ltd
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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