Dublin, Feb. 11, 2025 (GLOBE NEWSWIRE) -- The "Immersion Cooling for EV Batteries Market Size and Forecast, Global and Regional Share, Trend, and Growth Opportunity Analysis: By Type, Cooling Fluid Type, Vehicle Type, and Geography" report has been added to ResearchAndMarkets.com's offering.
The Immersion Cooling for EV Batteries market size is expected to reach US$ 278.45 million by 2031 from US$ 2.1 million in 2023, at an estimated CAGR of 88.3% from 2026 to 2031.
By Geography the Immersion Cooling for EV Batteries market is segmented into North America, Europe, Asia Pacific, and rest of world. In 2023, North America held a significant market share. The North American immersion cooling for EV batteries market is segmented into the US and the Rest of North America. 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. According to the report by Cox Automotive in October 2024, an estimated 3,463,091 EVs were sold in Q3 2024, representing a 5% increase over Q2. The EV share of sales in Q3 reached 8.9%, the highest ever recorded and up from 7.8% in Q3 2023.
Tesla is one of the largest seller of EVs in the US, selling more than 16,000 Cybertrucks. Also, as per Alliance for Automotive Innovation, EV sales increased from about 300,000 in Q1 2023 to 375,000 in Q3 2023. This increase in EV sales and production is raising the demand for EV battery manufacturing in the region. For this, various automotive manufacturers are also continuously investing in the manufacturing of batteries and EVs. In October 2022, Energy Storage Firm ONE announced the investment of US$ 1.6 billion in EV battery manufacturing in Michigan, US.
This new factory, ONE Circle is expected to be operational by the end of 2027. It is expected that the factory will achieve a 45% reduction in carbon emissions by 2028 through a circular manufacturing approach. Such continuous focus on producing EVs and EV batteries is expected to create opportunities for companies to develop more efficient immersion cooling batteries.
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the immersion cooling for EV batteries market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations such as specific country and segmental insight highlights crucial progressive industry trends in the immersion cooling for EV batteries market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
Key Topics Covered
1. Introduction
1.1 Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation
3.2.2 Macro-economic factor analysis
3.2.3 Developing base number
3.2.4 Data Triangulation
3.2.5 Country level data
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 Market Dynamics
5.1 Immersion Cooling for EV batteries market - Key Market Dynamics
5.2 Market Drivers
5.2.1 Increase in Demand for High-Capacity Batteries to Extend EV Driving Range
5.2.2 Growing Demand for Electric Vehicles
5.3 Market Restraints
5.3.1 Challenges Associated with Immersion Cooling
5.4 Market Opportunities
5.4.1 Advantages of Immersion Cooling
5.5 Future Trends
5.5.1 Growing Incorporation of Immersion-Cooled Battery into Road-Going Vehicles
5.6 Impact 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$ Thousand), 2021-2031
6.3 Immersion Cooling for EV batteries market Forecast Analysis
7. Immersion Cooling for EV batteries market Analysis - by Type
7.1 Single-Phase Immersion Cooling
7.2 Double-Phase Immersion Cooling
8. Immersion Cooling for EV batteries market Analysis - by Cooling Fluid Type
8.1 Mineral Oil
8.2 Synthetic Oil
8.3 Fluorocarbon-Based Fluid
8.4 Others
9. Immersion Cooling for EV batteries market Analysis - by Vehicle Type
9.1 Passenger Vehicles
9.2 Light Commercial Vehicles
9.3 Heavy Commercial Vehicles
10. Immersion Cooling for EV batteries market - Geographical Analysis
10.1 Overview
10.2 North America
10.3 Europe
10.4 Asia-Pacific
10.5 Rest of World
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration
12. Industry Landscape
12.1 Overview
12.2 Market Initiatives
12.3 Product Developments
12.4 Mergers & Acquisitions
13. Company Profiles
13.1 Ricardo PLC
13.2 Mahle GmbH
13.3 EXOES SAS
13.4 XING Mobility Inc.
13.5 The Lubrizol Corp.
13.6 Rimac Technology Ltd.
13.7 Cargill, Incorporated
13.8 Engineered Fluids Inc.
13.9 GS Caltex Corporation
13.10 Shell PLC
For more information about this report visit https://www.researchandmarkets.com/r/9ntstn
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