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Heat sinks are also known as heat exchangers. These are the mechanical devices which are used in elctronic products and devices for heat exchange. Owing to the incresing transfer of data, computation process and exchange of information digitally, the market for heat sinks is increasing. This is because these heat sinks enables the devices to process the information faster. The increased dissipated power per unit area from the electrical components are fueling the grwoth of the market. Furthermore, with the current rate of miniaturization electronic devices such as laptops, cellphones, smart watches and other devices, the amount of heat generated is expected to strengthen the market size. The increased market of heat sink is also owed to the increasing requirement of high performance electric components.
Heat sinks are broadly classified into two types that are active heat sinks and passive heat sinks. Active heat sinks assemblies operates with the help of powered devices such as, blowersor fans to remove the latent heat present at the source. Owed to this, active heat sinks are are more efficient with small size and space requirement. On the other hand passive heat sinks does not rely on the any powered devices and the sinks are shaped in fin arrays exposed to outside air. Besides, the type market is segmented based on the substance from which the sinks are made such as alluminium, copper, and others which includes composite materials, beryllium copper, etc. Out these the alluminium heat sinks are widely used owing to its light weight, ease of manufacturing and cost effectiveness.
Key Market Driver -
• Increasing Demand for Thermal Management in Medical Equipment & Electronics • Rising miniaturization of electronic equipment
Key Market Restraint -
• Complexity of Components & Designs of the Cooling Systems
Moreover, with the increasing global trade, increased spending power of the customers, and miniaturization of the devices is expected to enhance the demand of heat sinks. Also, amplified demand of goods and products of various industries such as automobile, consumer electronics, medical equipment, etc. is expected to boost the growth of the market.
Key players in the market have a dominant presence in the thermal management market, thus have good will and brand name to capture the unidentified regional heat sinks market. Moreover, these players are expected to have significant expansion in their business owing to the robust business strategies such as targeting developing countries and economies for increased market share.
Some of the key competitors in the Heat Sinks market include Boyd Corporation, Shenzhen Lori Technology Co.,Ltd, ABB, C&H Technology, Inc., Priatherm, Bluecore Heatsinks, PA International., AMETEK, Inc., Alpha Company Ltd., Wakefield-Vette & Advanced Thermal Solutions, Inc..
Asia Pacific is expected hold the largest market share along with the highest growth rate in the coming years. This is owed to the continuous increase in the investments done by the companies in the region to increase the production capacity. Furthermore, Asia Pacific has the largest market of automobiles and electronics industry, which also stimulates the growth of the market. Moreover, this region is the hotspots for the majority of the key players to gather enhanced market share. This is owed to the increased manufacturing activities in the countries such as China, India, Japan, & Korea.
Similarly, Middle East & Africa and Latin America is expected to be a prominent region for the growth of the heat sinks market. This is owed to the presence of capital intensive companies, along with low cost of labour in the region. Moreover, in the past 5 years the region has invested a lot in industrial development, in order to increase the trade and volume of import and export of consumer goods. Europe and North America on the other hand has showed a steady growth with minimal changes in the market structure. Also, the companies in the market are shifting their manufacturing facilities at developing economies, thus this region is expected to exhibit minor volatility in the coming years.
The ongoing COVID-19 pandemic is expected to impact the market slightly for the year 2020 owing to the halt in the manufacturing activities across the globe. Other than this, the market will further broaden with increased technological adoption in manufacturing process, such as automation, robotics, etc.
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