DUBLIN, March 22, 2023 /PRNewswire/ — The report “Electric Vehicle Immersion Coolant Market: A Global and Regional Analysis – Focus on Product, Application and Country Level Analysis – Analysis and Forecast, 2022-2032” a ResearchAndMarkets.com’s offers
The global market for immersion cooling fluids EVs expected to arrive $3,837.0 million in 2032 from 205.8 million dollars in 2021, growing to CAGR of 30.78% during the 2022-2032 forecast period.
The growth of the global electric vehicle immersion cooling fluid market is expected to be driven by increasing sales of electric vehicles equipped with immersion cooling systems worldwide.
Immersion coolants used in electric vehicles are advancing technologically and are expected to grow at the fastest rate over the forecast period. The key market development activities are expected to be driven by the ongoing research and development activities in the manufacturing of high performance immersion cooling fluids.
The global immersion cooling fluid market for electric vehicles is still in the growth phase. A growing fleet of electric vehicles is driving the sales of immersion cooling fluids in the market. As a result, the global immersion cooling fluid market for electric vehicles is expected to flourish during the forecast period.
Industry impacts
The federal government and agencies are investing heavily in grants and infrastructure development to promote electric vehicles and reduce carbon dioxide emissions. These investments are driving the growth of immersion cooling fluids.
In 2021, the German government doubled its share of the environmental bonus as a new premium, which increased subsidies for the purchase of new electric vehicles. Promoting green mobility, the German government announced the enhanced subsidy scheme, meaning buyers of BEVs and PHEVs would get a subsidy of up to around. $9,713 (9,000 euros) and around $7,285 (6,750 euros), respectively.
Analyst view
The immersion cooling fluid market for electric vehicles is at an early stage and is expected to grow substantially during the forecast period. The rapid ongoing research and development activities are driving the market growth significantly.
Immersion cooling fluid producers partner with immersion cooling system manufacturers to improve the performance of electric vehicle battery systems by optimizing fluid and hardware. Increase in sales of battery electric vehicles is expected to drive the immersion cooling fluid market for electric vehicles growth during the forecast period.
How can this report add value to an organization?
Growth/Marketing Strategy:
The global immersion cooling fluid market for electric vehicles is growing exponentially, with huge opportunities for market players.
Some strategies covered in this segment are product launches, partnerships and collaborations, business expansions and investments. The preferred strategy of companies has been product launches, partnerships and collaborations to strengthen their positions in the global electric vehicle immersion cooling fluid market.
Competitive strategy:
Key players in the global electric vehicle immersion cooling fluid market analyzed and profiled in the study include immersion cooling fluid based product manufacturers and immersion cooling system manufacturers.
Furthermore, a detailed competitive comparison of the players operating in the global electric vehicle immersion cooling fluid market has been done to help the reader understand how the players stack up against each other, presenting a clear market landscape .
Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will help the reader understand untapped revenue pockets in the market.
Market segmentation:
Based on the propulsion type segment, the global electric vehicle immersion cooling fluid market is expected to be dominated by the battery electric vehicle segment during the forecast period.
In terms of vehicle type, passenger vehicles will dominate the global electric vehicle immersion cooling fluid market due to the expected growth in the fleet of these vehicles during the forecast period.
The EV battery segment is expected to lead the market during the forecast period under the application segment as more than four-fifths of the total immersion coolant goes to EV batteries.
The single-phase coolant segment is expected to dominate the electric vehicle immersion cooling fluid market as it is one of the most efficient and safe methods of controlling heat rejection for electric vehicle batteries, EV motors and electronics of power
By 2021, the synthetic oils and esters segment dominated the global electric vehicle immersion cooling fluid market and is also expected to be the predominant segment throughout the forecast period.
europe is home to several manufacturers of immersion cooling fluids. The region is expected to dominate the immersion cooling fluid market for electric vehicles during the forecast period.
Recent Developments in the Electric Vehicle Immersion Cooling Fluid Market
- In June 2022FUCHS acquired the lubricants business of Gleitmo Technik AB in Kungsbacka, swedenand will integrate it into its subsidiary FUCHS LUBRICANTS SWEDEN AB from July 1, 2021to strengthen your specialized business.
- In October 2022Shell plc expanded its portfolio of specialist fluids available worldwide with the introduction of Shell E-Fluids to support battery electric vehicles (BEVs) as well as fuel cell electric vehicles (FCEVs) for light commercial vehicles , medium and heavy.
Business dynamics
Business drivers
- Growing acceptance of electric vehicles
- Need to increase the driving range of electric vehicles
- Thermal management in electric vehicles
- Growing need for improved electrification components
- Immersion cooling for electric vehicle batteries
Business opportunities
- Coolants for EV electronics and charging port cables
- Strict regulations of government bodies for the promotion of a sustainable environment
- Growing trend for the development of the autonomous vehicle
Business restrictions
- Higher cost of immersion cooling fluids for electric vehicles
- Development of environmentally friendly electric vehicle fluids
- Complex battery chemistry and amount of immersion cooling fluid required
- Changes need to be made in the construction of electric vehicle batteries
- Lack of knowledge about the advantages of immersion cooling
Business strategies
- Product development
- Market development
Corporate strategies
- Mergers and acquisitions
- Associations, Joint Ventures, Collaborations and Alliances
Sector perspectives
Immersion cooling fluids: overview
- History of thermal management of electric vehicle batteries
- Immersion cooling: the way forward for electric vehicle battery thermal management
Overview of regulatory hurdles
- Battery problems
- Regulations related to fire
- China Electric Vehicle Fire Regulations
- Canada’s Electric Vehicle Fire Regulations
- US Electric Vehicle Fire Regulations
- French regulations on electric vehicle fires
- South Korean Electric Vehicle Fire Regulations
- Indian Electric Vehicle Fire Regulations
Trends: current and future
- Supply chain network
- Comparative analysis: liquid cooling vs. Immersion cooling
- Case Study: Solving EV Range Anxiety
- Additives for fluids in electric vehicle batteries
- Analyst’s view on fluid additives in electric vehicle batteries
Ecosystem/Programs in progress
- Consortia, Associations and Regulatory Bodies
- Government initiatives
- Programs for research institutions and universities
- Mapping key patents
- Past vs. Future Research and Development Activities in the Electric Vehicle Immersion Cooling Fluid Market
- Overview of EV fluid cost estimation
Synopsis of key market players and competition
Manufacturers of immersion cooling fluids
- FUCHS
- The Lubrizol Corporation
- 3M
- Castrol Limited
- M&I Materials Ltd.
- Engineering fluids
- Shell plc
- TotalEnergies SE
- Cargill, Incorporated
- well
- LANDING
Suppliers of immersion cooling systems
- XING Mobility
- MAHLE GmbH
- Electric turn
- E-MERSIVA
Customer perspective of electric vehicle manufacturers
- Tesla Inc.
- Volkswagen AG
- SAIC Motors
- BYD Co. Ltd.
- Stellantis NV
- General Motors
- Ford Motor Company
- Hyundai Motor Company
- Honda Motor Co., Ltd.
- Group Renault
- Toyota Motor Corporation
- Bavarian Motor Works AG
For more information on this report, visit https://www.researchandmarkets.com/r/stvrss
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