Heat Sinks Market Outlook
According to the report by Expert Market Research (EMR), the global heatsink market size reached a value of USD 6.92 billion in 2022. Aided by the growing demand for efficient thermal management in electronics and an increase in heat sink applications in various sectors, the market is projected to grow further at a CAGR of 6.50% from 6.50% from USD 202 billion from 2020 billion to 2023.
Heat sinks are essential components in modern electronics, designed to increase heat dissipation from hot surfaces to cooler ambient air. They are mainly used in computers, LED lighting, power electronics and other high performance systems to control temperature and ensure optimal functionality. Heat sinks, with their high thermal conductivity and specialized designs, enable better air movement, thus preventing equipment from overheating.
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Escalating consumer demand for efficient, compact and high-performance electronic devices is a significant growth driver of the global cooling market. With the proliferation of CPUs, GPUs and other powerful components, there has been a marked increase in demand for advanced heat dissipation solutions. Additionally, the growing trend of IoT and smart devices has further increased the popularity of heat sinks, as these devices often need efficient thermal management to maintain performance and longevity. Additionally, key heat sink market trends include an increase in research and development efforts by major industrial equipment manufacturers geared toward advancing heat sink product designs and increasing heat dissipation effectiveness.
Expanding applications of heat sinks in multiple industries also play a vital role in increasing the market demand for power plants. In the automotive sector, heat sinks are widely used for thermal management in electric and hybrid vehicles. The telecommunications industry uses heatsinks to ensure efficient operation of network equipment and other high-load equipment. The increasing integration of electronics in aerospace and defense applications also requires robust thermal management solutions, driving the market for heat sinks.
Additionally, the increasing focus on energy efficiency and sustainability in the electronics industry has led to a greater emphasis on heatsinks as essential components for thermal management. With the growth of electric vehicles and the expansion of the use of renewable energy systems, heat sinks have emerged as key elements in these technologies, contributing to the expansion of the heater market.
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Heat sink market segmentation
The market can be segmented on the basis of product type, industry vertical and region.
Market segmentation by product type
- Copper heat
- Aluminum heat
- Aluminum copper heat
Market Segmentation by Industry Vertical
Market segmentation by region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive landscape
The EMR report examines market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of global heating companies. Some of the major key players explored in the report by Market Expert Research are as follows:
- Sunonwealth Electric Machine Industry Co. Ltd.
- Advanced Thermal Solutions, Inc.
- Aavid Thermalloy, LLC
- Apex Microtechnology
- CUI Inc.
- Comair Rotron
- Others
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