Thermal Management Systems Market for Electronic Equipment Industry Worth USD 13.33 Billion During 2020-2024
The new thermal management systems market for electronic equipment industry research from Technavio indicates Negative growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Thermal Management Systems Market for Electronic Equipment Industry 2020-2024 (Graphic: Business Wire)
Get detailed insights on the COVID-19 pandemic Crisis and Recovery analysis of the thermal management systems market for electronic equipment industry.
"One of the primary growth drivers for this market is the rising transition from air to liquid cooling," says a senior analyst for the Industrials industry at Technavio.
The growing need to make electronic devices perform efficiently at higher power ranges has led to several technological advances and the miniaturization of devices. Moreover, power electronics is also gaining prominence in a wide spectrum of fields such as telecommunications, automotive, aerospace and defense, and healthcare. Therefore, to manage the amount of power being dissipated from devices, the air-cooling solutions need to be optimized and enlarged adequately to remove excess heat. This has led to the preference for liquid cooling solutions as they have the potential to transform the heat up to four times higher than the capacity of air of equal mass and serve higher thermal performance in a smaller solution. Additionally, they are also capable of granting an additional level of control over the cooling system where the user can connect multiple cold plates to the same heat exchanger of the solution, thereby making the system capable of controlling the inlet temperature as well as the flow rate. Thus, these benefits are fostering the shift from air-cooled solutions to the adoption of liquid-cooled solutions in power electronics. Furthermore, the growing awareness of the benefits of liquid cooling solutions mostly in terms of higher efficiency than air cooling is expected to increase their adoption for thermal management. This, in turn, will drive the growth of the global thermal managemnt systems market for electronic equipment during the forecast period.
As the markets recover Technavio expects the thermal management systems market for the electronic equipment industry size to grow by USD 13.33 billion during the period 2020-2024.
Thermal Management Systems Market for Electronic Equipment Industry Segment Highlights for 2020
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