Heat Sink Market Expected to Reach $10.9 Billion, Globally, By 2032 at 7.1% CAGR: Allied Market Research

The heat sink market is expected to witness notable growth owing to surge in use of hybrid heat sinks in control systems, increase in power density and performance requirements and miniaturization of electronic devices. Moreover, electric vehicles (EVs) and battery thermal management and high-performance computing and data centers are expected to provide lucrative opportunities for the growth of the market during the forecast period

WILMINGTON, Del., Dec. 14, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Heat Sink Market By Type, Material, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global heat sink market was valued at $5.5 Billion in 2022, and is projected to reach $10.9 Billion by 2032, registering a CAGR of 7.1% from 2023 to 2032.

Prime determinants of growth

The heat sink market is projected to experience significant growth due to the increasing utilization of hybrid heat sinks in control systems, growing demands for improved power density and performance, and the ongoing trend of miniaturization in electronic devices. Lucrative prospects are expected to arise from the adoption of heat sinks in electric vehicles (EVs), battery thermal management, and the high-performance computing and data center domains. However, the expansion of the market may face constraints due to issues related to noise generation.

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•  58 - Charts

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Report Coverage and Details:

The Passive Heat Sinks segment maintains its leadership status throughout the forecast period

Based on type, the passive heat sinks segment held the highest market share in 2022, accounting for more than half of the global heat sink industry revenue and is estimated to maintain its leadership status throughout the forecast period. Passive heat sinks are known for their small size & flexibility and are widely used in the consumer electronics sector for the testing of smartphones, laptops and others.

The Aluminum segment to maintain its leadership status throughout the forecast period

Based on material, the aluminum segment held the highest market share in 2022, accounting for less than three-fifths of the global heat sink market revenue and is estimated to maintain its leadership status throughout the forecast period. In addition, the aluminum segment is projected to attain the highest CAGR of 7.28% from 2023 to 2032 owing to efficient heat conduction and dissipation capabilities. The aluminum material heat sinks are vital for effective thermal management in electronic devices, particularly given the continuous advancement in power and miniaturization of components like processors.

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The Consumer Electronics segment to maintain its leadership status throughout the forecast period

Based on industry vertical, the consumer electronics segment held the highest market share in 2022, accounting for more than one-fifth of the heat sink market revenue and is estimated to maintain its leadership status throughout the forecast period. In addition, the consumer electronics segment is projected to attain the highest CAGR of 8.5% from 2023 to 2032 owing to adoption of advanced technologies, including the implementation of 5G devices in telecommunications and the ongoing evolution of IT infrastructure.

North America to maintain its dominance by 2032.

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global heat sink market revenue. Asia-Pacific region is expected to witness the fastest CAGR of 7.78% from 2023 to 2032, owing to continuous expansion of telecommunication networks, particularly the deployment of 5G technology. 

Leading Market Players:

• ATS
• Aavid Thermalloy, LLC
• ABL Aluminium Components Ltd
• Alpha Novatech, Inc.
• CTS Corporation
• CUI Devices
• Ohmite
• Sensata Technologies
• TE Connectivity
• Wakefield Thermal, Inc.

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The report provides a detailed analysis of these key players of the global heat sink market. These players have adopted different strategies such as product development and product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Key Benefits For Stakeholders:

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the heat sink market analysis from 2022 to 2032 to identify the prevailing heat sink market opportunity.
• Market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the heat sink market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global heat sink market trends, key players, market segments, application areas, and market growth strategies.

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