DUBLIN, Feb. 8, 2024 /PRNewswire/ — The “Asia-Pacific Immersion Cooling Fluids Market for EVs – Analysis and Forecast, 2022-2032” report has been added to ResearchAndMarkets.com’s.
Dramatic growth is anticipated in the Asia-Pacific immersion cooling fluids market for electric vehicles (EVs), with new industry analysis forecasting a jump from $3.0 million in 2022 to $65.1 million by 2032. The sector is set to expand at a remarkable compound annual growth rate (CAGR) of 36.0% during the period of 2022-2032, signaling a robust era for the industry.
Rise in electric vehicle adoption that entails advanced battery technologies is driving the demand for efficient cooling solutions. Immersion cooling fluids are at the forefront of this technological advancement, providing essential thermal management to enhance EV performance and longevity.
ailed market analysis categorizes immersion cooling fluids based on several segments, including propulsion type, vehicle type, application, product type, chemistry, and regional markets within Asia-Pacific. These detailed segments offer a comprehensive view of the market landscape:
- Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs), and Plug-in Hybrid Electric Vehicles (PHEVs)
- Passenger Vehicles, Light Commercial Vehicles, and Heavy Commercial Vehicles
- EV Batteries, EV Motors, and Power Electronics
- Single-Phase Coolant and Two-Phase Coolant
- Mineral Oils and Synthetic Oils and Esters
Countries highlighted within this report span the diverse markets of Japan, India, South Korea, Australia, and other parts of Asia-Pacific, excluding China. The report identifies the growth and expansion strategies of market leaders, as well as the actions of new entrants within the space.
Unveiling Market Dynamics: Drivers and Challenges
With the growing environmental consciousness and stringent regulations on emissions, the EV market is expected to continue its robust growth, further driving the demand for immersion cooling fluids. The report delves into the dynamics propelling this growth, the technological trends shaping the market, and the obstacles that market participants may face.
Analyst’s Perspective on Asia-Pacific Immersion Cooling Fluids Market for EVs
The Principal Analyst 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 the key drivers and challenges for players in the Asia-Pacific immersion cooling fluids market for EVs?
- How is the market landscape for immersion cooling fluids manufacturers expected to be formed for electric vehicles?
- What are the steps taken by the existing players to improve/maintain their market positioning and the strategy adopted by new players entering in market space?
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analysing company coverage, product portfolio, and market penetration.
Some of the prominent names established in this market are:
- XING Mobility
- SAIC Motors
- BYD Co. Ltd.
- Hyundai Motor Company
- Honda Motor Co., Ltd.
- Toyota Motor Corporation
Key Topics Covered:
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 Regions
2.1 China
2.1.1 Markets
2.1.1.1 Buyer Attributes
2.1.1.2 Key Manufacturers in China
2.1.1.3 Competitive Benchmarking
2.1.1.4 Business Challenges
2.1.1.5 Business Drivers
2.1.2 Applications
2.1.2.1 China Immersion Cooling Fluids Market for EVs (by Vehicle Type), Value and Volume Data, 2021-2032
2.1.2.2 China Immersion Cooling Fluids Market for EVs (by Propulsion Type), Value and Volume Data, 2021-2032
2.1.2.3 China Immersion Cooling Fluids Market for EVs (by Application), Value and Volume Data, 2021-2032
2.1.3 Products
2.1.3.1 China Immersion Cooling Fluids Market for EVs (by Product Type), Value and Volume Data, 2021-2032
2.1.3.2 China Immersion Cooling Fluids Market for EVs (by Chemistry), Value and Volume Data, 2021-2032
2.2 Asia-Pacific and Japan
2.2.1 Markets
2.2.1.1 Buyer Attributes
2.2.1.2 Key Manufacturers in Asia-Pacific and Japan
2.2.1.3 Competitive Benchmarking
2.2.1.4 Business Challenges
2.2.1.5 Business Drivers
2.2.2 Applications
2.2.2.1 Asia-Pacific and Japan Immersion Cooling Fluids Market for EVs (by Vehicle Type), Value and Volume Data, 2021-2032
2.2.2.2 Asia-Pacific and Japan Immersion Cooling Fluids Market for EVs (by Propulsion Type), Value and Volume Data, 2021-2032
2.2.2.3 Asia-Pacific and Japan Immersion Cooling Fluids Market for EVs (by Application), Value and Volume Data, 2021-2032
2.2.3 Products
2.2.3.1 Asia-Pacific and Japan Immersion Cooling Fluids Market for EVs (by Product Type), Value and Volume Data, 2021-2032
2.2.3.2 Asia-Pacific and Japan Immersion Cooling Fluids Market for EVs (by Chemistry), Value and Volume Data, 2021-2032
2.2.4 Asia-Pacific and Japan: Country-Level Analysis
3 Markets – Competitive Benchmarking & Company Profiles
3.1 Competitive Benchmarking
3.2 Market Share Analysis
3.3 Company Profiles
3.3.1 Type 2 Companies: Immersion Cooling System Providers
3.3.1.1 XING Mobility
3.3.1.1.1 Company Overview
3.3.1.1.1.1 Role of XING Mobility in the Immersion Cooling Fluids Market for EVs
3.3.1.1.1.2 Product Portfolio
3.3.1.1.2 Business Strategies
3.3.1.1.2.1 XING Mobility: Product Development
3.3.1.1.3 Corporate Strategies
3.3.1.1.3.1 XING Mobility: Partnerships, Joint Ventures, Collaborations, and Alliances
3.3.1.1.4 Analyst View
3.3.2 SAIC Motors
3.3.2.1 Company Overview
3.3.2.2 Electric Vehicle Production
3.3.2.3 Product Overview
3.3.3 BYD Co. Ltd.
3.3.4 Hyundai Motor Company
3.3.5 Honda Motor Co., Ltd.
3.3.6 Toyota Motor Corporation
4 Research Methodology
For more information about this report visit https://www.researchandmarkets.com/r/4xvh9v
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