Wilmington, Delaware, United States, April 13, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global heat pipe market is estimated to flourish at a CAGR of 4.9% from 2022 to 2031. According to Transparency Market Research, sales of heat pipe market are slated to total US$ 549.0 million by the end of the aforementioned period of assessment. The heat pipe market is primarily driven by the increasing demand from various end-use industries such as aerospace and automotive.
With the increasing adoption of electric vehicles, there is a growing demand for thermal management systems that can efficiently dissipate heat generated by the battery and other components. Heat pipes are being increasingly used in electric vehicles to improve the efficiency of thermal management systems.
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Several manufacturers are launching new products in the heat pipe market. For instance, in 2021, Advanced Cooling Technologies (ACT) launched a new high-temperature heat pipe for use in space applications. The heat pipe can operate at temperatures up to 1,000°C, making it ideal for use in high-temperature environments.
Key Findings of the Market Report
- Asia-Pacific is expected to be the largest market for heat pipes due to the growing industrialization and increasing investments in the region.
- On the basis of the distribution channel, the direct sales segment is the most lucrative segment in the heat pipe market.
- The demand for both grooved and sintered heat pipes is expected to increase due to the need for efficient thermal management solutions in various industries.
- By product, vapor chamber heat pipes are expected to be the most sought after
- By end-use industry, uptake of heat pipes is likely to be in the consumer electronics segment
- Round-shaped heat pipes are expected to be the most purchased equipment in the forecast period
Heat Pipe Market Growth Drivers & Trends
- The increasing need for advanced defense systems and space exploration has led to rising adoption of heat pipes in aerospace and defense, driving the demand for heat pipes in the market.
- The growing popularity of electric vehicles has led to a demand for efficient thermal management solutions, driving the use of heat pipes in EVs and increasing demand for heat pipes in the market.
- The increasing demand for data centers is expected to drive the growth of the heat pipe market. Heat pipes are extensively used in data centers for cooling systems, which are essential for the optimal performance of servers and other electronic devices.
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Global Heat Pipe Market: Regional Profile
- North America is expected to hold a significant market share in the heat pipe market due to the presence of major manufacturers and increasing adoption of heat pipes in various applications such as data centers, aerospace, and defense.
- Europe is expected to witness significant growth in the heat pipe market due to the increasing demand for advanced cooling technologies in the automotive and aerospace industries. The growing trend towards green energy and renewable energy sources is expected to drive the demand for heat pipes in the region.
- Asia-Pacific is expected to be the largest market for heat pipes due to rapid industrialization and increasing investments in the region. China, Japan, and South Korea are some of the prominent contributors to the growth of the heat pipe market in the Asia-Pacific.
Heat Pipe Market: Competitive Landscape
The heat pipe market is a competitive industry with several major players vying for market share. The market is primarily driven by the demand for efficient and cost-effective cooling solutions in various industries such as electronics, aerospace, and automotive. Some prominent manufacturers are as follows:
- Advanced Cooling Technologies, Inc.
- ATHERM
- Foxconn Technology Group
- CELSIA Inc.
- DeepCool Industries Co., Ltd.
- Euro Heat Pipes SA
- Fujikura Ltd.
- Furukawa Electric Co. Ltd.
- Noren Thermal Inc.
- Nidec Corp.
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Some key developments with regard to heat pipes are as follows:
- In May 2021, CELSIA Inc. announced that they have launched a new line of high-performance heat sinks for use in electronic devices. The heat sinks are designed to improve the thermal management of electronic devices, such as smartphones, laptops, and gaming consoles, by dissipating heat more efficiently. The new product line is expected to strengthen Celsia's position in the market for thermal management solutions.
- In June 2021, Foxconn Technology Group announced that it plans to invest $1 billion in a new factory in India to manufacture electronics products. The company aims to tap into the growing demand for electronics products in India, which is expected to become one of the largest consumer electronics markets in the world.
Heat Pipe Market: Key Segments
Product Type
- Vapor Chamber
- Variable Conductance Heat Pipe
- Loop Heat Pipe
- Rotating Heat Pipe
- Thermosyphon Heat Pipe
- Others (Oscillating / Pulsating Heat Pipe)
Wick Type
- Grooved Heat Pipe
- Sintered Heat Pipe
- Others (Screen, Wire Mesh Heat Pipe)
Diameter
- Below 5 mm
- 5 mm – 10 mm
- Above 10 mm
Shape
- Round
- Flat
- Others (Rectangle, Square, etc.)
End-Use Industry
- Automotive
- Aerospace
- Medical
- Telecommunication
- Consumer Electronics
- Power & Energy
- Food & Beverage
- Others (Semiconductors, etc.)
Distribution Channel
- Direct Sale
- Indirect Sale
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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