In response to the surging application of cooled liquid systems in-built with cold plates instead of forced air cooling systems, the cold plates market demand is rising rapidly. According to Future Market Insights (FMI), the global cold plates market is expected to grow by 5.2% CAGR during the forecast period from year 2020 to 2030.
The increase in focus on miniaturized electronics components are leading the cold plates market towards further growth across the globe.
Despite of being affected by the novel coronavirus outbreak due to shutting down of manufacturing units, crisis in raw materials and labors, decline in demand and others, the market holds strong potential to excel.
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As the cold plates market is expanding across the world creating huge scope for the market players, top companies such as BOYD Corporation, Telerex, Wieland Microcool, Cofan USA Inc., and others have started adopting strategic ways to utilize the opportunities.
The FMI report offers a detailed analysis of the global cold plates market, its growth, scopes and potential during the forecast period.
Some of the key takeaways from the report are highlighted below-
- The global cold plates market is expected to grow by 5.2% CAGR during the forecast period from the year 2020 to 2030
- Exclusive features of cold plates such as minimizing noise effects, reliability, adaptability to wide ranges of temperature and others are forecast to market growth
- Introduction to highly efficient customized products is projected to steer cold plates market demand throughout the forecast period
- Surge in miniaturized electronics components used in diverse range of products is expected to propel the lightweight and higher fin density cold plates market growth.
- Growing inclination towards advanced liquid-cooled thermal solutions is anticipated to spur the market demand all over the world
- High-powered electronics will sustain as the leading applications of the market
- Region-wise North America, followed by Latin America and Europe will dominate the global market
- Growth in semiconductor and electronics industry will cater to the market growth in the coming years
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“Surge in miniaturized electronics component and increasing inclination towards liquid-cooled thermal solutions is anticipated to propel the global cold plates market growth during the forecast period from the year 2020 to 2030.”- says an FMI analyst.
Surge in Liquid-Cooled Thermal Solutions Demand Driving Growth
The modern day technology needs smaller microprocessors to operate, which results in excessive power consumption, rising heat flux and other issues. Due to these cons the circuit designers need to develop more efficient system which are more expensive and less attractive in terms of usage flexibility.
As the requirement of liquid-cooled solutions have been increasing rapidly, various industries such as high power electronics developers, motor devices manufacturers, automotive components developers and others are opting for affordable options. As a result the demand for advanced cold plates is increasing worldwide.
New-age Technologies Aiding Expansion
The advancement in technologies coupled with the increase in light-weight and affordable equipment demand in various applications such as, lasers, military equipment, medical equipment and others are boosting the global market growth.
The modern-age cold plates are suitable to be used as light-weighted system components with high performing capability. As the cold plates help in achieving better coefficient of temperature expansion (CTE), it is widely preferred among the diverse end users.
Due to their high thermal conductivity and compact design, cold plates market demand is anticipating further surge in growth in the coming years.
Sluggish Growth Likely Due to COVID-19
The COVID-19 pandemic brought the cold plates market to a stand-still for some time. Restraining factors such as hampered supply chain management, nonoperational manufacturing units due to lock down and others have resulted in decline in the market growth during the current year.
As more people are getting inclined towards consuming more essential products, the global market is experiencing less demand for various cold plates applications such as, motor devices, wind turbines and others. In the other hand the increased demand for medical equipment has worked in favor of cold plates market.
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Despite of facing a few issues due to COVID-19, the cold plates market is anticipated to exhibit continuous growth during the forecast period from year 2020 to 2030.
Who is winning?
Due to the surging demand for cold plates from the various end-user industries such as high powered electronics equipment developers, medical equipment developers and others, the market is expected to experience acceleration in growth.
The key market players such as, Parker Hannifin Corporation, Columbia-Staver Limited, Wieland Microcool, BOYD Corporation, Cofan USA, Inc., and others have started taking innovative approaches to dominate the market.
For instance, the key market player BOYD Corporation has brought their new ranges of thermal solutions with special emphasis on liquid cold plates with the feature of removing heat from high heat load surfaces for cooling in a complete liquid system.
Parker Hannifin Corporation has launched their new set of thermal and power management products with the availability of diverse ranges of cold plates such as THERM-A_GAP HCS10 thermally conductive gap filler pads, CHO-THERM Thermally conductive electrical insulator pads and others.
Cofan USA, Inc. has released their exclusive thermal stimulation with the latest software to handle complex CFD stimulations and CAD modelling utilizing the best of the benefits of cold plates.
As the global market is anticipated to witness further growth in the coming years, the competitive market players are investing heavily to lead the market.
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