DUBLIN — (BUSINESS WIRE) — February 9, 2024 — The "Asia-Pacific Immersion Cooling Fluids Market for EVs - Analysis and Forecast, 2022-2032" report has been added to ResearchAndMarkets.com's offering.

The Asia-Pacific immersion cooling fluids market for EVs (excluding China) is projected to reach $65.1 million by 2032 from $3.0 million in 2022, growing at a CAGR of 36% during the forecast period 2022-2032.

Rising sales of electric vehicles equipped with immersion cooling systems are anticipated to propel the expansion of the immersion cooling fluids market in APAC.

The Asia-Pacific and Japan region is a hotspot for the production and consumption of electric vehicles due to the rising costs of fuel and the need to reduce carbon emissions to build a cleaner and more sustainable environment. The region consists of countries such as Japan, South Korea, India, and Australia. The EV sales in Asia-Pacific are concentrated in small pockets. EV sales are prominent in the countries of South Asia. Leading automotive companies in Asia are Honda, Nissan, Toyota, and Nissan, which are also involved in the manufacturing of globally popular electric vehicles.

Immersion cooling fluids, which are used in electric vehicles (EVs), have seen significant technological improvement in the Asia-Pacific (APAC) industry, and growth in this area is expected to pick up speed over the next several years. The production of high-performance immersion cooling fluids is the target of ongoing research and development projects, which should greatly enhance important market growth initiatives.

The demand for immersion cooling fluids in electric vehicles (EVs) is being driven by the growing fleet of these vehicles, which is driving the expansion of the APAC market for these fluids. As a result, throughout the next projection period, the APAC immersion cooling fluids market for EVs is expected to rise rapidly.

How can this report add value to an organization?

Product/Innovation Strategy: Increasing demand for electric vehicles worldwide is pushing the sales of immersion cooling fluids. Therefore, the immersion cooling fluids business is a high-investment and high-revenue generating model.

Growth/Marketing Strategy: The Asia-Pacific immersion cooling fluids market for EVs is exponentially growing, with enormous opportunities for the market players. Some strategies covered in this segment are product launches, partnerships and collaborations, business expansions, and investments. The companies' preferred strategy has been product launches, partnerships, and collaborations to strengthen their positions in the Asia-Pacific immersion cooling fluids market for EVs.

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 Attributes:

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