Market players are focusing on investing in advanced solutions to gain a competitive advantage.
DUBAI, UAE / ACCESSWIRE / February 8, 2021 / Future Market Insights: FMI states in its recent study on the cold plates that the market will record a CAGR of 5.2% through 2030. Demand for cold plates is expected to continue to increase especially due to the surge in sales of medical equipment and powered electronics.
"High thermal conductivity and compact design are making cold plates highly preferred by the advanced technology developers such as automotive components developers, motor devices manufacturers, IGBT modules developers, and others. With several other advancements on cards, the demand for cold plates is poised to surge considerably in the coming years." says the FMI analyst.
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Cold plates Market - Important Highlights
- According to product type, stir welded cold plates are anticipated to maintain lead due to their high welding strength.
- High powered electronics segment is expected to be the major shareholder in the cold plates market during the forecast period.
- North America is expected to have a steady expansion with a CAGR of 5.3% owing to its highly advanced electronics industry.
- India is expected to lead the south Asia market due to its rapidly gaining momentum in the electronics sector.
Cold plates Market - Drivers
- High demand for miniaturization of electronics components will generate growth prospects.
- Rising demand from end-use industries such as medical equipment, wind turbines, and high-powered electronics.
- Favourable government projects and funding around the world for the setup of various electronic plants is encouraging market growth.
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Cold plates Market - Restraints
- High expenditure in installation remains to be a key constraint for the market.
- The absence of skilled personnel for efficient handling of equipment in the industry is hindering the growth of the market.
COVID-19 Impact on Cold plates Market
The cold plates market growth is anticipated to be hampered owing to the unprecedented COVID-19 pandemic. The cold plates market growth declined drastically when the manufacturing units experienced shutdowns for months and a deficiency in raw materials supply and shortage of human resources. But the market is expected to have a turnaround as economies steadily stabilize.
Competitive Landscape
The cold plates market players are leaning towards the expansion of the production facilities besides opting for planned and strategic collaborations to gain a competitive edge.
for example, CECLA Metal Process is a France based company that launched their latest electronics board cooling solutions with the attributes of conduction cooling, HSHP, heat sink, and others utilize the huge demand from the electronics industry. Some of the key companies that FMI profiled include Parker Hannifin Corporation, BOYD Corporation, Wieland Micro cool, Columbia-Staver Limited, Telerex
About the Study
The study offers readers a comprehensive assessment of the cold plates market. Global, regional, and national-level analysis of the current trends influencing the market is covered in this FMI report. The study provides insights based on product type (Stir Welded Cold Plate, Press Locked Cold Plate, Vacuum Brazed Cold Plate), application(High Powered Electronics, Medical Equipment, Motor Devices, Automotive Components), and across key regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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Report: https://www.futuremarketinsights.com/reports/cold-plates-market
Press Release Source: https://www.futuremarketinsights.com/press-release/cold-plates-market
SOURCE: Future Market Insights
View source version on accesswire.com:
https://www.accesswire.com/628297/How-Advancements-in-Thermal-Solutions-are-Spurring-Growth-of-Cold-Plates-Market-New-Report-Analyzes
