Rise in demand due to trend of miniaturization in electronics system growth in the global Heat Sinks Market
Covid-19 Impact & Market Status
The report offers an exhaustive overview of the business dynamics and new investment strategies that are being adopted by business leaders across countries and regions to overcome the acute challenges and financial instabilities that have emerged in the post-pandemic times.
The global Heat Sinks market was worth USD 16.27 billion in 2022, and it is expected to grow at a CAGR of 6.19% over the forecast period, reaching USD 23.3 billion by 2028.
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The report highlights some of the best industry strategies and practices that are adopted by the players across local and global markets. Ever since the Covid-19 broke out in 2019, it has spread aggressively, resulting in the rapid declaration by the WHO affirming Covid-19 as a global pandemic and an emergency.
The impact of the pandemic is widespread and the aftermath is well pronounced, gravely affecting the global heat sinks market. The sudden pandemic and its implications have posed significant challenges such as travel bans, quarantines, and lockdowns.
These developments are hampering operations resulting in supply chain breaches, stock market inefficiencies, and vendor chaos. These are constantly interfering with the normal functioning of industries.
Ever since the outbreak of the global crisis, the impact on upstream, downstream, and midstream industries have been appalling. The report delivers a quick ready-to-deploy approach to counter such crisis and steer the global heat sinks market towards steady growth and systematic progression.
Amidst the pandemic, aligning with new dynamics, the global heat sinks market has been witnessing new dynamics which are further necessitating new business models and approaches to recoup growth and revenue streams.
In this report, inquisitive business players would be provided with sufficient guidelines regarding business transformation, integral to sustain stiffening competition in the pandemic and beyond pandemic era global heat sinks market.
Active Type Heat Sinks to Sustain the Highest Revenues
Based on the type, the heat sinks market is mainly segmented into active and passive. Active type segment heat sinks are more efficient with the small size and space requirement. Active heat sinks assemblies operate with the help of powered devices such as blowers’ fans for removing the latent heat present at the source.
Aluminum Substance Segment to be the Most Lucrative
Based on the substance, the heat sinks market is mainly segmented into aluminum, copper, composite materials, others. Out of all, aluminum heat sinks are widely used as they are light in weight easy to manufacture, and cost-effective.
APAC to Sweep the Largest Revenue Streams Followed by North America
Asia Pacific region is a lucrative regional market for the global heat sinks market due to the expansion of the automotive and consumer electronics sector in this region. The expansion of chip manufacturing companies in China is driving the growth of the market in the Asia-Pacific region. Several frontline companies are established in China and therefore the region is one of the leading regional markets for the global heat sinks market.
North America and Europe are likely to gain a share in the global heat sink market. Demand for servers and data centers is significantly increasing. These comprise various types of equipment that require the active use of heat sinks to manage the thermal activities for the smooth and continuous operation of devices.
Designing electronics systems to increase the functionality into smaller form factors are offering new opportunities in the global heat sinks market
A heat sink is a heat exchanger that transfers the heat generated by an electronic or a mechanical device to a fluid medium, often air or a liquid. It can also be defined as anything that absorbs thermal energy without becoming much warmer is called a heat sink. Substances with high heat capacities, such as water, are good heat sinks.
It is a component that increases the heat flow away from a hot device. This is done by increasing the device's working surface area and the amount of low-temperature fluid that moves across its enlarged surface area.
Out of many materials, Aluminium is the most common material for heat sinks. In particular, aluminium heat sinks are mostly used in all the projects due to aluminium’s lightweight and good thermal conductivity properties.
Further, advancements in the designing electronics systems to increase the functionality into smaller form factors, rising demand for the thermal management in medical equipment are expected to ravel new growth opportunities in the global heat sinks market during the forecast period.
However, the complexity of components and designs of the cooling systems is one of the key restraints hampering the heat sink market growth.
The major players of the global heat Sinks market are Sunon wealth Electric Machine Industry Co., Ltd., Advanced Thermal Solutions, Inc., American Technical Ceramics Corp., and Wakefield-Vette, Inc., Avid Thermalloy, LLC., Apex Microtechnology, Comair Rotron, CUI Inc, T-Global Technology Co., Ltd, Molex Incorporated.
The heat sinks market is a rapidly progressing industry and is characterized to have industrial frontliners as well as aspiring new players aiming to penetrate the aggressive competitive landscape across global and local markets. Additionally, various new and aspiring players are improving their product lines and upgrading technological capabilities to improve revenue streams amidst the Covid-19 impact.
Latest Innovations in the Global Heat Sinks Market: A Snapshot
- In July 2019, Boyd corporation has acquired Lytron. Lytron is also a thermal management company, specializing in liquid cooling technology. This acquisition will enhance the company with its liquid-cooled technology portfolio.
- In September 2019, AMETEK, Inc., acquired pacific design technologies, Inc. company that specializes in critical components thermal management systems. This acquisition is going to assist the company in increasing its share in the aerospace and defense sector.
Heat Sinks Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2028 |
| Study Period | 2018-2028 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2028 | USD 23.3 billion |
| Growth Rate | CAGR of 6.19 % during 2018-2028 |
| Segment Covered | Product Type, Applications, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Sunonwealth Electric Machine Industry Co. Ltd.,Advanced Thermal Solutions, Inc.,Aavid Thermalloy, LLC,Apex Microtechnology,CUI Inc.,Comair Rotron,Others |
Key Segments of the Global Heat Sinks Market
Type Overview, (USD Billion)
- Active
- Passive
Substance Overview, (USD Billion)
- Aluminium
- Copper
- Others (composite, etc.)
Industry Overview, (USD Billion)
- Consumer electronics
- Aerospace & defence
- Medical equipment
- General industries
- Automotive
- Others (laser equipment, etc)
Regional Overview, (USD Billion)
North America
- U.S
- Canada
Europe
- Germany
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
South America
- Mexico
- Brazil
- Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
The global heat sinks market size is predicted to reach over USD 23.3 billion by 2028.
The heat sinks market is projected to grow at a CAGR of 6.19% during the forecast years 2022-2028.
Asia Pacific is expected to hold the largest market share in forecast period 2022 to 2028.
The major players of the global heat sinks market are Sunonwealth Electric Machine Industry Co. Ltd.,Advanced Thermal Solutions, Inc.,Aavid Thermalloy, LLC,Apex Microtechnology,CUI Inc.,Comair Rotron,Others
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