Heat Sinks Market Size [2022-2029] | Industry Share, Growth, And Trends Forecast Analysis

Heat Sinks Market to Experience Steady Growth; Heavy Utilization of Digital Technologies for Exchange of Information Worldwide to Feed Market Expansion

Pune, India, Oct. 17, 2022 (GLOBE NEWSWIRE) -- The global heat sinks market size is projected experience accelerated growth owing to skyrocketing demand for medical equipment amid the COVID-19 pandemic, states Fortune Business Insights™ in its report, titled “Heat Sinks Market Size, Share & Industry Analysis, By Type (Active, Passive), By Substance (Aluminium, Copper, Others (Composite, etc.)), By Industry (Aerospace & Defence, Automotive, Consumer Electronics, Medical Equipment, General Industries, Others (Laser Equipment, etc.)) and Regional Forecast, 2020-2027”.
The coronavirus is known to infect the lungs and spread to other organs, necessitating the use of ventilators and other breathing medical equipment. With exponential rise in COVID-19 cases, the pressure on electronic equipment used in healthcare facilities is immense. Stabilizing such equipment in crucial to prevent disasters. Heat sinks can play an instrumental role in aiding the efficient management of medical equipment such as ventilators in hospitals. These devices facilitate the transfer of heat generated by electronic equipment to a fluid medium, which dissipates this heat and helps regulate the temperature of the equipment. Thus, as COVID-19 numbers rise worldwide and electronic devices continue to be utilized, the demand for heat sinks is likely to remain high for the immediate future.

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*Highlights of the Report:*

· Valuable insights into the factors driving and restraining the market;
· In-depth examination of the market segments;
· Granular analysis of the regional dynamics shaping the market; and
· Thorough assessment of the key market players and their dominant strategies.

*Market Driver*

*Risks Surrounding Overheating of Smartphones to Fuel Demand for Heat Sinks*

Thermal management of smartphones and other miniaturized electronic devices is crucial to prevent accidents. For example, if a smartphone is constantly exposed to temperatures above 30 degrees Celsius, it can damage the lithium-ion battery powering the device. In some cases, if the battery has aged excessively, it can explode and cause fires. For instance, poor thermal management of batteries caused the infamous explosions of some Samsung Galaxy Note 7 devices in 2016, forcing the company to recall the device from the market. To avoid such mishaps, smartphone companies are increasingly relying on using heat sinks in their products to efficiently dissipate the heat generated in the device. In a smartphone, a heat sink made from thermally conductive metal such as copper or aluminium is mounted on the heat-producing component. Heat is then transferred from the component to the sink via conduction, where it dissipates and gets released into the ambient air through convection. Increasing utilization of smartphones, therefore, will ensure stable heat sinks market growth.

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*Regional Insights*

*Asia Pacific to Maintain Top Position Supported by Expanding Electronics Industry*

Among regions, Asia Pacific is expected to hold commanding position in the heat sinks market share in the coming years owing to speedily expanding electronics industry in the region. Furthermore, rapidly growing economies of China and India are emerging as investment hotspots for global players, given the surging demand and consumption of automobiles and consumer electronics in these countries. This will lay a very promising foundation for the growth of this market in Asia Pacific.

Low labor costs and heavy investments in industrial development will be the pivotal factors boosting the growth of the market in Latin America and the Middle East & Africa. The market in Europe and North America is expected to exhibit stable growth as these are mature regions and companies from these regions are making massive investments in emerging economies.

*Competitive Landscape*

*Portfolio Diversification to be the Central Growth Strategy for Key Players*

With expansion and consolidation of market position in mind, key players in this market are taking decisive steps to diversify their product portfolio. One of the top strategies adopted by companies to gain a competitive edge is to tactically acquire other competitors and strengthen their offerings. Moreover, many players are also focusing on the flourishing smartphone industry and tailoring products gain prominence in this domain.

*Industry Developments:*

· *September 2019: *AMETEK, Inc. announced the acquisition of Pacific Design Technologies, a leader in mission-critical thermal management solutions. AMETEK aims at leveraging Pacific’s specialty in liquid cooling systems in commercial defense, space, and aerospace applications to develop next-gen, cutting-edge, and custom-engineered products.
· *September 2018: *Samsung introduced X5, its maiden solid state drive (SSD) based on non-volatile memory. The device is embedded with Dynamic Thermal Guard Technology and a heat sink to prevent it from overheating and causing accidents

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*List of Companies Profiled in the Heat Sinks Market Report:*

· Advanced Thermal Solutions, Inc.
· Alpha Company Ltd.
· PA International
· Priatherm
· ABB
· Boyd Corporation
· Wakefield-Vette
· AMETEK, Inc.
· Bluecore Heatsinks
· C&H Technology, Inc.  
· Shenzhen Lori Technology Co., Ltd.

*Heat Sinks Market Segmentation:*

*By Type*

· Active
· Passive

*By Substance*

· Aluminium
· Copper
· Others (Composite, etc.)

*By Industry*

· Aerospace & Defence
· Automotive
· Consumer Electronics
· Medical Equipment
· General Industries
· Others (Laser Equipment, etc)

*By Region*

· North America (U.S. and Canada)
· Europe (UK, Germany, France, Italy and Rest of Europe)
· Asia Pacific (Japan, China, India, Southeast Asia and Rest of Asia Pacific)
· Middle East & Africa (GCC, South Africa and Rest of Middle East & Africa)
· Latin America (Brazil, Mexico and Rest of Latin America)

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