The new thermal management systems market for electronic equipment industry research from Technavio indicates Negative growth in the short term as the business impact of COVID-19 spreads.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201120005553/en/
Technavio has announced its latest market research report titled Global Thermal Management Systems Market for Electronic Equipment Industry 2020-2024 (Graphic: Business Wire)
Get detailed insights on the COVID-19 pandemic Crisis and Recovery analysis of the thermal management systems market for electronic equipment industry.
Get FREE report sample within MINUTES
“One of the primary growth drivers for this market is the rising transition from air to liquid cooling,” says a senior analyst for the Industrials industry at Technavio.
The growing need to make electronic devices perform efficiently at higher power ranges has led to several technological advances and the miniaturization of devices. Moreover, power electronics is also gaining prominence in a wide spectrum of fields such as telecommunications, automotive, aerospace and defense, and healthcare. Therefore, to manage the amount of power being dissipated from devices, the air-cooling solutions need to be optimized and enlarged adequately to remove excess heat. This has led to the preference for liquid cooling solutions as they have the potential to transform the heat up to four times higher than the capacity of air of equal mass and serve higher thermal performance in a smaller solution. Additionally, they are also capable of granting an additional level of control over the cooling system where the user can connect multiple cold plates to the same heat exchanger of the solution, thereby making the system capable of controlling the inlet temperature as well as the flow rate. Thus, these benefits are fostering the shift from air-cooled solutions to the adoption of liquid-cooled solutions in power electronics. Furthermore, the growing awareness of the benefits of liquid cooling solutions mostly in terms of higher efficiency than air cooling is expected to increase their adoption for thermal management. This, in turn, will drive the growth of the global thermal management systems market for electronic equipment during the forecast period.
As the markets recover Technavio expects the thermal management systems market for the electronic equipment industry size to grow by USD 13.33 billion during the period 2020-2024.
Thermal Management Systems Market for Electronic Equipment Industry Segment Highlights for 2020
- The thermal management systems market for the electronic equipment industry is expected to post a year-over-year growth rate of 11.47%.
- There is a growing demand for more compact and powerful electronics. With the increase in power, efficiency, and miniaturization, the operating temperature of such devices is rising, resulting in higher energy density.
- This has consequently increased heat generation, which is necessitating the use of higher-performing thermal management materials in consumer electronics.
- Therefore, the stakeholders of the electronics industry are seeking improved techniques to cool and control the temperature of electronic devices.
- Market growth in this segment will be faster than the growth of the market in automotive electronics, aerospace and defense electronics, and medical electronics segment.
- 45% of the growth will originate from the APAC region.
- The rising disposable income, expanding middle-class population, changing demographics, and the ongoing urbanization and industrialization will significantly influence the growth of thermal management systems market size in the region.
- China, India, and Japan are the key markets for thermal management systems in APAC. Market growth in this region will be faster than the growth of the market in other geographies.
Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.
Related Reports on Industrials Include:
Global Heat Pipes Market: The heat pipes market size has the potential to grow by USD 637.35 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. To get extensive research insights: Click and Get FREE Sample Report in Minutes!
- The thermal management systems market size for electronic equipment industry is expected to accelerate at a CAGR of over 12% during the forecast period.
- The thermal management systems market for electronic equipment industry is segmented by Application (Consumer electronics, Automotive electronics, Aerospace and defense electronics, and Medical electronics) and Geographic Landscape (APAC, Europe, MEA, North America, and South America).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including 3M Co., AMETEK Inc., Danfoss AS, Emerson Electric Co., European Thermodynamics Ltd., Henkel AG & Co. KGaA, Honeywell International Inc., Parker-Hannifin Corp., Schneider Electric SE, and Vertiv Group Corp.
Register for a free trial today to access 17,000+ market research reports using Technavio’s SUBSCRIPTION platform
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.