Demand for Thermal Management Technologies and Impact of COVID-19……..
The global thermal
management technologies market
size is expected to reach USD 20.14
billion by 2024, according to a new report by Grand View Research, Inc. The
industry is primarily driven by the growth in the emerging trend of
miniaturization of electronic devices and components.
The global electronics devices market
(including consumer electronics and industrial electronics devices) is expected
to be impacted significantly by COVID-19 as China is one of the major suppliers
for the raw materials (used to manufacture devices) as well as the finished
products. The industry is on the brink of facing a reduction in production,
disruption in supply, and price fluctuations. While this can vastly encourage
local manufacturers to step up and address the growing demand, the scarcity of
raw material can still pose a challenge to this industry. The sales of
prominent electronic companies is expected to be affected in the near future.
The report will account for Covid19 as a key market contributor.
Developments in the electronics
industry have culminated in a considerable surge in the power densities, which
have led to the introduction of smaller, smarter products. These advancements
in the industry have led to an increased need for innovative thermal management
technologies as they improve the system performance and reliability by avoiding
the heat generated by the devices. The electronic packaging trend has increased
the performance and reduced the size of the product. This has led to a
significant increase in the power consumption of the system.
Advanced technological research is
expected to produce more efficient and cost-effective thermal management
solutions in the future. The key industry participants are extensively focusing
on the development of optimized thermal management solutions that are
cost-effective and are applicable across a range of end-use applications.
However, the industry is anticipated to witness various issues associated with
modularity in designing and reliability of modeling, which are presumed to
challenge the growth over the forecast period.
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Further key findings from the report suggest:
·
Stringent regulations as defined by the
Network Equipment Building Systems (NEBS) and the European Telecommunications
Standards Institute (ETSI) require telecommunication industry organizations to
comply with certain thermal management industry standards
·
Current cooling technologies, standard heat
sinks, and fans are rapidly approaching their cooling capacity limit, and
thermal management is becoming a critical step in enabling enhanced product
functionality
·
The thermal management software is
anticipated to exhibit a significant growth in the near future owing to the
increasing adoption of the software heat removal techniques and simulations to
reduce moments of peak heat impact and reduce the risk of failure. The segment
was valued a little over USD 700 million in 2015.
·
The application of thermal management
technologies in consumer electronics is expected to grow at a significant rate
over the next eight years. The growth can be accredited to the emerging
electronic packaging trend to reduce the size of electronic components and
increase the performance of consumer electronic products, leading to the growth
in the power consumption of the system.
·
North America accounted for close to 35% of
the global market share in 2015 and is expected to remain one of the key
revenue-generating regions over the forecast period. The steady escalation in
the use of heat dissipation solutions in organizations is projected to impact
the regional industry growth favorably.
Increasing need for heat
dissipation in electronic devices expected to drive the market
The
thermal management technologies market size was valued at USD 10.12 billion in
2015. Advancements in the electronics industry have led to a significant
increase in the power densities, which, in turn, have driven the development of
smaller and smarter products. The increasing need for advanced heat dissipation
solutions in these smaller products is expected to drive the industry growth in
the near future.
In
the past few years, the traditional electronic and electrical industry has
become technology savvy, where consumer demands and needs are driving the
manufacture and design of products. The industry responded to the demand with
innovations, providing systems with enhanced power and by meeting the needs of
consumers.
The
chip-cooling solutions have evolved over the past few years to accommodate the
increase in heat flux. Manufacturers are working on the development of advanced
cooling solutions based on multi-phase heat transfer technologies. Technologies,
such as jet impingement mechanisms, cold plates, and heat vapor chambers, have
revolutionized the future of these systems.
However,
various component and system level technological issues, such as heat effect on
transistor operation, spatial and temporal variation in the heat load, multiple
heat transfer interface, and acoustic noise emissions, are presumed to
challenge technological advancements. These challenges are expected to impact
the market growth negatively over the forecast period.
Browse Press
Release of this report:
Grand View Research has segmented the
thermal management technologies market on the basis of product, application.
Thermal Management Technologies Product Outlook (Revenue,
USD Million, 2014 - 2024)
·
Hardware
·
Software
·
Interface
·
Substrates
Thermal Management Technologies Application Outlook
(Revenue, USD Million, 2014 - 2024)
·
Computers
·
Consumer Electronics
·
Telecommunication
·
Automotive
·
Renewable Energy
·
Others
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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