At 89.9% CAGR, the North America Immersion Cooling for EV Batteries Market is Projected to be Worth US$ 61.10 Million by 2030, Says Business Market Insights
According to Business Market Insights research, the North America immersion cooling for EV batteries market was valued at US$ 4.70 million in 2026 and is expected to reach US$ 61.10 million by 2030, registering a CAGR of 89.9% from 2026 to 2030. Increase in demand for high-capacity batteries to extend EV driving range and growing demand for electric vehicles are among the critical factors attributed to the North America immersion cooling for EV batteries market expansion.
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 November 2021, General Motors (GM) announced that they are moving from lithium-ion to the new lithium-metal technology as its next-generation battery pack. The company partnered with SolidEnergy Systems (SES) to develop a new battery platform. This new lithium-metal chemistry offered greater energy density, providing smaller and lighter battery packs and significantly greater range. The predicted range on a single charge is expected to be from 500 to 600 miles, i.e., an 80% charge, which will take less than 15 minutes. However, the development of high-capacity batteries for EVs can cause thermal runaway, which can result in extremely high temperatures; ejection of harmful gaseous, liquid, or solid products; and smoke and fire explosion. Such overheating of the batteries can lead to their degradation, further limiting power availability and reducing usable capacity. To cater to the above problems, the need for immersion cooling is increasing in the market, where highly specialized dielectric heat transfer fluid is used to submerge the entire battery pack. The fluid can help in effectively managing the increased heat from high-speed charging while also preventing the propagation of thermal runaway. Also, the immersion cooling technique can help enhance heat transfer and offer a more uniform cooling effect across the entire battery pack, further expanding the capacity of the battery. Thus, the growing demand for high-capacity batteries to increase EV driving range is fueling the growth of the North America immersion cooling for EV batteries market.
On the contrary, challenges associated with immersion cooling hampers the growth of North America immersion cooling for EV batteries market.
Based on type, the North America immersion cooling for EV batteries market is bifurcated into single-phase immersion cooling and two-phase immersion cooling. The single-phase immersion cooling segment held 96.2% share of the North America immersion cooling for EV batteries market in 2026, amassing US$ 4.52 million. It is projected to garner US$ 59.33 million by 2030 to expand at 90.3% CAGR during 2026-2030.
By cooling fluid type, the North America immersion cooling for EV batteries market is segmented into mineral oil, synthetic oil, and others. The synthetic oil segment held 58.3% share of the North America immersion cooling for EV batteries market in 2026, amassing US$ 2.74 million. It is projected to garner US$ 37.65 million by 2030 to expand at 92.5% CAGR during 2026-2030.
Based on country, the North America immersion cooling for EV batteries market is bifurcated into the US and the Rest of North America. The US held 88.5% share of North America immersion cooling for EV batteries market in 2026, amassing US$ 4.16 million. It is projected to garner US$ 53.89 million by 2030 to expand at 89.7% CAGR during 2026-2030.
Key players operating in the North America immersion cooling for EV batteries market are Cargill Inc, Engineered Fluids Inc, M&I Materials Ltd, Mahle GmbH, Ricardo Plc, SAE International, and The Lubrizol Corp, among others.
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