Liquid Cooling Systems Global Market Report 2023: Rising Demand from Smartphone Manufacturers Bolsters Growth
DUBLIN, May 23, 2023 /PRNewswire/ -- The "Liquid Cooling Systems Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global liquid cooling systems market is expected to grow from $4.20 billion in 2022 to $5.03 billion in 2023 at a compound annual growth rate (CAGR) of 19.8%. The liquid cooling systems market is expected to grow to $10.35 billion in 2027 at a CAGR of 19.8%.
The rise in demand for liquid cooling systems among smartphone manufacturers for thermal management is expected to propel the growth of the liquid cooling systems market going forward. A smartphone refers to a portable electronic gadget with a cellular network connection. The liquid cooling system in smartphones operates on the heat dissipation principle, a technology in which a heat pipe with the cooling liquid is already installed in the devices that converts the liquid inside it into vapor by absorbing the excess heat produced by the processor.
For instance, according to the Pew Research Center, a nonpartisan American think tank, the percentage of Americans who own a smartphone climbed from 81% in February 2019 to 85% in February 2021, which was just 35% a decade ago (in 2011). The Indian smartphone market also experienced a 10-fold increase from 14.5 million shipments in 2011 to 150 million in 2020, according to the India Brand Equity Foundation (IBEF). Therefore, a rise in demand for liquid cooling systems among smartphone manufacturers for thermal management is expected to propel the growth of the liquid cooling systems market.
For instance, in February 2022, Honeywell, a US-based performance materials and technology company, launched Solstice E-Cooling, a ground-breaking platform of liquid heat transfer agents that efficiently and effectively cool high-performance electronics in comparison to conventional techniques that use air and water. The innovative cooling technology for electronics and data centers uses a two-phase liquid cooling technology to cool electrical applications while minimizing the impact on the environment. Solstice E-Cooling provides for more uniform and energy-effcient cooling, better heat rejection, and less pumping power.
In October 2021, Bregal Unternehmerkapital, a Germany-based private equity firm that invests in the automotive, industrial goods, healthcare, and e-commerce sectors, acquired Laird Thermal Systems for an undisclosed amount. With this acquisition, Bregal is expected to support Laird Thermal Systems in its geographic expansion, as well as its entry into new market segments and the introduction of numerous product innovations. Laird Thermal Systems is a US-based company that designs and manufactures temperature controllers and liquid cooling systems.
North America was the largest region in the liquid cooling systems market in 2022. The regions covered in liquid cooling systems report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the liquid cooling systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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7. Liquid Cooling Systems Market Regional And Country Analysis
A selection of companies mentioned in this report includes
For more information about this report visit https://www.researchandmarkets.com/r/30wvw9
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