Europe Immersion Cooling for EV Batteries Market Forecast to 2030
Europe Immersion Cooling for EV Batteries Market Forecast to 2030 – Regional Analysis – By Type (Single-Phase Immersion Cooling and Two-Phase Immersion Cooling) and Cooling Fluid Type (Mineral Oil, Synthetic Oil, and Others)
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Description
Growing Incorporation of Immersion-cooled Battery into Road-Going Vehicles Drive Europe Immersion Cooling for EV Batteries Market
Immersion cooling technology offers superior thermal management to EV batteries as with the help of dielectric fluid, the technology can quickly help to cool the battery, which is increasing its adoption across the globe. Hence, various companies are developing advanced immersion cooling batteries. For instance, in May 2023, WattAlps announced the development of a new immersion cooling technology certified to two leading industry safety standards. This new innovative immersion cooling system by WattAlps has secured IEC 62619 and ISO 26262 certification, becoming the first company to meet both industry standards with an immersion cooling battery. Such developments by the key players are encouraging the companies to incorporate the technology in EVs. In February 2023, RIMAC announced the development of the Koenigsegg Regera, a Hybrid Hypercar, which is a commercial vehicle with an immersion-cooled battery. This battery can deliver a power of ~500 kW. Similarly, in July 2023, TotalEnergies announced that it incorporated an immersion-cooled battery into a road-going vehicle. The company has replaced the battery cooling system with an immersion alternative in a Volvo XC90 plug-in hybrid. This incorporation led to better cooling, faster charging, enhanced safety, and lower cost without modifying the battery or vehicle design. Thus, the growing development of immersion cooling batteries and their incorporation in EVs is expected to fuel the growth of the Europe immersion cooling for EV batteries market during the forecast period.
Europe Immersion Cooling for EV Batteries Market Overview
The Europe immersion cooling for EV batteries market is segmented into Germany, France, Spain, the UK, Italy, and the Rest of Europe. The expanding automotive sector is driving the market in this region. It is one of Europe’s largest sectors, representing over 7% of the region’s GDP. The region consists of various established car manufacturers continuously working on increasing the production and sales of electric vehicles. According to the European Automobile Manufacturers Association (ACEA), in Q4 of 2022, the region witnessed an increase in the registrations of new battery electric cars by 31.6%, selling 406,890 total units. Out of this, Germany registered 198,293 units of BEVs. France registered 62,155 units, and Sweden registered 37,013 unit sales. Governments of countries in the region are taking various initiatives for the adoption of EVs in the region. For instance, in 2020, the government of the UK awarded US$ 57.87 million for various low-carbon automotive projects, including electric vehicle manufacturing. Also, in July 2021, the European Commission proposed a revised Regulation (EU) 2019/631 to reduce carbon emissions by cars and vans to achieve its 2030 and 2050 climate objectives. Such supportive government policies for reducing carbon emissions are expected to increase the adoption of EVs in the region. This will further propel the demand for high-capacity EV batteries, thereby raising the need for efficient battery cooling solutions and bolstering the growth of the Europe immersion cooling for EV batteries market in Europe. Further, to support these government initiatives, various companies in the market are working on increasing EV production in the region. In March 2022, Ford planned to introduce three new passenger EVs and four new commercial EVs in Europe by 2024. The company also announced its plans to sell more than 600,000 EVs in the region by 2026. Thus, the increase in initiatives from leading players regarding EV production and development is anticipated to drive the Europe immersion cooling for EV batteries market in Europe in the coming years.
Europe Immersion Cooling for EV Batteries Market Revenue and Forecast to 2030 (US$ Million)
Europe Immersion Cooling for EV Batteries Market Segmentation
The Europe immersion cooling for EV batteries market is segmented based on type, cooling fluid type, and country.
Based on type, the Europe 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 a larger share in 2026.
By cooling fluid type, the Europe immersion cooling for EV batteries market is segmented into mineral oil, synthetic oil, and others. The synthetic oil segment held the largest share in 2026.
Based on country, the Europe immersion cooling for EV batteries market is segmented into Germany, France, Italy, the UK, and the Rest of Europe. The Rest of Europe dominated the Europe immersion cooling for EV batteries market in 2026.
Cargill Inc, Engineered Fluids Inc, EXOES SAS, M&I Materials Ltd, Mahle GmbH, Ricardo Plc, Rimac Technology Ltd, SAE International, and The Lubrizol Corp are some of the leading companies operating in the Europe immersion cooling for EV batteries market.
Summary Info
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According to the Research Team’ research, the Europe immersion cooling for EV batteries market was valued at US$ 5.33 million in 2026 and is expected to reach US$ 70.61 million by 2030, registering a CAGR of 90.8% from 2026 to 2030. Advantages of immersion cooling and growing incorporation of immersion-cooled battery into road-going vehicles are among the critical factors attributed to the Europe immersion cooling for EV batteries market expansion.
The demand for reliable EVs is continuously increasing across the globe. EVs are witnessing increasing momentum as companies and governments worldwide are taking various initiatives to promote fossil fuel-free transportation. To achieve this goal, the batteries need to become more powerful, which creates the need for more intense cooling regimes. As a result, various market players are working on incorporating immersion cooling to enhance their EV battery systems. In immersion cooling, a battery is submerged in dielectric fluid, which enables a more direct cooling approach than a water-glycol system. As fluid surrounds the battery cells directly, the cooling process occurs rapidly. If a battery fire occurs, the immersion cooling technique immediately helps to prevent the spread of heat in the entire battery pack, thus stopping other cells from going into thermal runaway. The technique also helps prevent battery degradation due to unexpected cell aging by quickly cooling the cells, thereby reducing the thermal runaway chances through effective heat dissipation. Also, this dielectric fluid helps prevent heat from propagating to adjacent cells, avoiding a cascade effect spreading within the entire battery pack.
Furthermore, the immersion cooling technique helps to address leak protection, preventing electrical shorts even if a fluid leak occurs due to damage. It also facilitates high-speed charging. Also, immersion cooling can help extend the life of battery packs by 8% compared to a water-glycol system. In addition, it can be more effective in controlling peak and average temperatures. It can reduce peak battery temperature by 5% compared to water-based systems and promote more uniform temperatures throughout the pack. Thus, all the above advantages of immersion cooling for EV battery cooling are expected to create an opportunity for the growth of the Europe immersion cooling for EV batteries market during the forecast period.
On the contrary, challenges associated with immersion cooling hampers the growth of Europe immersion cooling for EV batteries market.
Based on type, the Europe 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 95.9% share of the Europe immersion cooling for EV batteries market in 2026, amassing US$ 5.11 million. It is projected to garner US$ 68.32 million by 2030 to expand at 91.3% CAGR during 2026-2030.
By cooling fluid type, the Europe immersion cooling for EV batteries market is segmented into mineral oil, synthetic oil, and others. The synthetic oil segment held 58.1% share of the Europe immersion cooling for EV batteries market in 2026, amassing US$ 3.10 million. It is projected to garner US$ 43.52 million by 2030 to expand at 93.6% CAGR during 2026-2030.
Based on country, the Europe immersion cooling for EV batteries market is segmented into Germany, France, Italy, the UK, and the Rest of Europe. The Rest of Europe held 37.1% share of Europe immersion cooling for EV batteries market in 2026, amassing US$ 1.98 million. It is projected to garner US$ 26.56 million by 2030 to expand at 91.5% CAGR during 2026-2030.
Key players operating in the Europe immersion cooling for EV batteries market are Cargill Inc, Engineered Fluids Inc, EXOES SAS, M&I Materials Ltd, Mahle GmbH, Ricardo Plc, Rimac Technology Ltd, SAE International, and The Lubrizol Corp, among others.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in Europe immersion cooling for EV batteries market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the immersion cooling for EV batteries market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Immersion Cooling for EV Batteries Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in Value Chain:
5. Europe Immersion Cooling for EV Batteries Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increase in Demand for High-Capacity Batteries to Extend EV Driving Range
5.1.2 Growing Demand for Electric Vehicles
5.2 Market Restraints
5.2.1 Challenges Associated with Immersion Cooling
5.3 Market Opportunities
5.3.1 Advantages of Immersion Cooling
5.4 Future Trends
5.4.1 Growing Incorporation of Immersion-cooled Battery into Road-Going Vehicles
5.5 Impact Analysis of Drivers and Restraints
6. Immersion Cooling for EV Batteries Market – Europe Market Analysis
6.1 Europe Immersion Cooling for EV Batteries Market Overview
6.2 Europe Immersion Cooling for EV Batteries Market Revenue (US$ Million), 2022 – 2030
6.3 Europe Immersion Cooling for EV Batteries Market Forecast and Analysis
7. Europe Immersion Cooling for EV Batteries Market Analysis – Type
7.1 Single-Phase Immersion Cooling
7.1.1 Overview
7.1.2 Single-Phase Immersion Cooling Market Revenue and Forecasts to 2030 (US$ Million)
7.2 Two-Phase Immersion Cooling
7.2.1 Overview
7.2.2 Two-Phase Immersion Cooling Market Revenue and Forecasts to 2030 (US$ Million)
8. Europe Immersion Cooling for EV Batteries Market Analysis – Cooling Fluid Type
8.1 Mineral Oil
8.1.1 Overview
8.1.2 Mineral Oil Market Revenue and Forecasts to 2030 (US$ Million)
8.2 Synthetic Oil
8.2.1 Overview
8.2.2 Synthetic Oil Market Revenue and Forecasts to 2030 (US$ Million)
8.3 Others
8.3.1 Overview
8.3.2 Others Market Revenue and Forecasts to 2030 (US$ Million)
9. Europe Immersion Cooling for EV Batteries Market – Country Analysis
9.1 Overview
9.1.1 Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts and Analysis – By Countries
9.1.1.1 Germany: Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.1.1 Germany: Europe Immersion Cooling for EV Batteries Market Breakdown by Type
9.1.1.1.2 Germany: Europe Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
9.1.1.2 France: Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.2.1 France: Europe Immersion Cooling for EV Batteries Market Breakdown by Type
9.1.1.2.2 France: Europe Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
9.1.1.3 Italy: Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.3.1 Italy Europe Immersion Cooling for EV Batteries Market Breakdown by Type
9.1.1.3.2 Italy: Europe Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
9.1.1.4 UK: Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.4.1 UK: Europe Immersion Cooling for EV Batteries Market Breakdown by Type
9.1.1.4.2 UK: Europe Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
9.1.1.5 Rest of Europe: Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.1.5.1 Rest of Europe: Europe Immersion Cooling for EV Batteries Market Breakdown by Type
9.1.1.5.2 Rest of Europe: Europe Immersion Cooling for EV Batteries Market Breakdown by Cooling Fluid Type
10. Competitive Landscape
10.1 Heat Map Analysis By Key Players
10.2 Company Positioning & Concentration
11. Industry Landscape
11.1 Market Initiative
11.2 New Development
12. Company Profiles
12.1 Ricardo Plc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Contribution to Immersion Cooling Technology for EV Batteries
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Mahle GmbH
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Contribution to Immersion Cooling Technology for EV Batteries
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 EXOES SAS
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Contribution to Immersion Cooling Technology for EV Batteries
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 The Lubrizol Corp
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Contribution to Immersion Cooling Technology for EV Batteries
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 SAE International
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Contribution to Immersion Cooling Technology for EV Batteries
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Rimac Technology Ltd
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Contribution to Immersion Cooling Technology for EV Batteries
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Cargill Inc
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Contribution to Immersion Cooling Technology for EV Batteries
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Engineered Fluids Inc
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Contribution to Immersion Cooling Technology for EV Batteries
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 M&I Materials Ltd
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Contribution to Immersion Cooling Technology for EV Batteries
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
13. Appendix
13.1 Word Index
LIST OF TABLES
Table 1. Europe Immersion Cooling for EV Batteries Market Segmentation
Table 2. Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 4. Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts to 2030 (US$ Million) – Cooling Fluid Type
Table 5. Europe Immersion Cooling for EV Batteries Market, by Country – Revenue and Forecast to 2030 (USD Million)
Table 6. Germany: Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 7. Germany: Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
Table 8. France: Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 9. France: Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
Table 10. Italy: Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 11. Italy: Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
Table 12. UK: Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 13. UK: Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
Table 14. Rest of Europe: Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 15. Rest of Europe: Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn) – By Cooling Fluid Type
Table 16. Company Positioning & Concentration
Table 17. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Immersion Cooling for EV Batteries Market Segmentation, By Country
Figure 2. Ecosystem: Europe Immersion Cooling for EV Batteries Market
Figure 3. Europe Immersion Cooling for EV Batteries Market – Key Industry Dynamics
Figure 4. Europe Immersion Cooling for EV Batteries Market: Impact Analysis of Drivers and Restraints
Figure 5. Europe Immersion Cooling for EV Batteries Market Revenue (US$ Million), 2022 & 2030
Figure 6. Europe Immersion Cooling for EV Batteries Market Share (%) – Type, 2022 and 2030
Figure 7. Single-Phase Immersion Cooling Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8. Two-Phase Immersion Cooling Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Europe Immersion Cooling for EV Batteries Market Share (%) – Cooling Fluid Type, 2022 and 2030
Figure 10. Mineral Oil Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. Synthetic Oil Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. Europe Immersion Cooling for EV Batteries Market by Key Countries – Revenue (2022) (US$ Million)
Figure 14. immersion cooling for EV batteries market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 15. Germany: Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 16. France: Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 17. Italy: Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 18. UK: Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 19. Rest of Europe: Europe Immersion Cooling for EV Batteries Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 20. Heat Map Analysis By Key Players
The List of Companies – Europe Immersion Cooling for EV Batteries Market
1. Cargill Inc
2. Engineered Fluids Inc
3. EXOES SAS
4. M&I Materials Ltd
5. Mahle GmbH
6. Ricardo Plc
7. Rimac Technology Ltd
8. SAE International
9. The Lubrizol Corp
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