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Power electronics technology is used in a wide range of industries. It is estimated that more than one-third of the electricity will flow through power electronic equipment in ten years. These devices include inverters, converters, and rectifiers, which can convert electrical energy between different forms. They are used for transmission from the milliwatt power requirement of portable devices to high-voltage direct-current transmission involving gigawatts (GW) of power. Traditional thermal solutions are often unable to meet the performance requirements in harsh or challenging environments. It is also difficult to cope with high heat fluxes; therefore, thermal management becomes a key design consideration.
According to the type, the global power electronics equipment cooling system market can be subdivided into water cooling, heat pipe cooling, air cooling, heat sink cooling, and others. The heat sink cooling segment is expected to account for a large part of the global market during the forecast period. The heat pipe segment is likely to be the complementary part to the heat sink cooling part. Due to the expansion of various industries worldwide, these cooling systems may expand rapidly during the forecast period.
In terms of devices, the power electronics equipment cooling system market can be segmented into conduction, convection, advanced, and hybrid cooling systems. Due to the increasing use of microchannel cooling in consumer electronics and direct immersion cooling in servers and data hubs, advanced cooling equipment is expected to be the fastest-growing market during the forecast period. In addition, the demand for the use of convection cooling equipment in electronic components and electronic circuits will also increase, leading to more market opportunities.
The increasing demand for thermal management solutions and systems in different terminal industries has led to the global power electronics equipment cooling system market. The expanding use of large and small size high-power devices for treatment and analysis applications in the healthcare field has led to an increase in demand for thermal management solutions and systems, leading to the growth of the power electronics equipment cooling system market.
Reducing the power requirements of the cooling system without affecting its performance and reliability is a significant issue facing the power electronics equipment cooling system market. Power consumption is a critical factor in the design of different cooling systems. The increase in the clock rate of microprocessors and the number of transistors has led to the complex structure of components used in cooling systems, which has become a constraint on the growth of the power electronics equipment cooling system market.
Key Market Driver -
Increasing demand in industrial refrigeration will enhance market growth
Key Market Restraint -
Increasing clock rate rate and high operating cost to stagnate market
Major companies in the power electronics equipment cooling system market are ABB, Hitachi Cooling & Heating Global, TMEIC, HYDAC Technology Ltd., Jingrui Cooling Technology Co., Guangzhou Gaoland, ACT, AMS Technologies AG, Tran-Tec, C&H Technology, Inc, Streuter Fastel Timtel, and Darrah Electric Company.
The power electronics equipment cooling system market is studied across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. APAC is the dominant market at present. The North American market is also growing, owing to the rapid adoption and implementation of electronic devices in homes. Also, technological progress is one of the most important reasons why the market has a high market share. The European market for power electronics cooling systems is expected to experience considerable growth, followed by the Middle East and Africa, which have relatively small market shares.
The Asia-Pacific region is expected to be the most dominant market. The appliance industry development in Asian economies, such as China, Japan, Korea, and India, promotes the market in this area. This region also appears as a central point to increase the investment of essential factors and business expansion functions of the heat management market. These economic situations and economic labor costs are the main promotion factors to increase business opportunities. This area witnessed that the demand for electric vehicles and hybrid vehicles has a high in recent years. In addition, the development of Chip manufacturing companies in China and Korea is promoting the growth of the APAC market.
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