April 13, 2016
Wellesley, Mass., April 13, 2016 – In recent years, the electronic devices and systems industry has undergone tremendous technological growth. BCC Research reveals in its new report that the technological progress has come on two main fronts: increased functionality on a single device unit and miniaturization of each unit. Both of these developments have spurred great demand for thermal management technologies.
Thermal management describes the array of material technologies and problem-solving design tools that system manufacturers apply to regulate the unwanted heat caused by the normal functioning of an electronic system. This report analyzes thermal management technologies by four segments: hardware, software, interfaces, and substrates.
The global market for thermal management products should grow from $11.2 billion in 2016 to $14.7 billion by 2021, representing a five-year compound annual growth rate (CAGR) of 5.6%.
Thermal management hardware as a segment, which accounts for about 80% of the total market, has benefited from the increased implementation of heat management solutions in high-volume commodity systems. Most of the products in the hardware category have matured in the largest electronic applications markets.
At a five-year CAGR of 7.6%, thermal interface materials segment has the highest projected growth rate. Suppliers have developed interfaces to aid in automated assembly, and interfaces will be the main type of thermal solution for compact and portable electronic devices. The market for thermal interface materials is projected to grow from $762 million in 2015 to nearly $1.2 billion in 2021. Price pressure on high-volume applications should prevent revenues from growing more rapidly.
The widespread introduction of microelectronics and increasing demands made on their functionality and reliability has pushed thermal management to the forefront in many industries. Major end-users of thermal management products include the computer, telecommunications, automotive, consumer products, medical/office equipment, industrial/office equipment, light-emitting diodes, and renewable energy industries. In 2015, the largest end-user markets were the computer industry (31.6% of total revenues), renewable energy (15.1%), and telecommunications equipment (13.9%). The market share for computers is expected to fall to 24.6% by 2021, while that of renewable energy should increase to 16.3%. The share of telecommunications equipment should drop to 11.7%.
The market for thermal management technology in consumer products is growing faster than the production of consumer products. The consumption of thermal management products used in consumer electronic products has a projected five-year CAGR of 10.1%.
“However, this situation is changing, as a growing number of consumer electronic products incorporate advanced chips and other high-performance technologies. Examples include the latest generation of video game consoles and digital home entertainment devices,” says BCC Research analyst Andrew McWilliams. “The thermal management market in consumer products should grow from $687.3 million in 2016 to more than $1.1 billion by 2021.”
The Market for Thermal Management Technologies (SMC024K) analyzes the industry by technology, by type, and by end-user application. The report examines emerging applications, trends, pricing considerations, R&D, government regulations, and competitive technologies. Analyses of global market drivers and trends, with data from 2014, 2015, and projections of CAGRs through 2020 also are provided.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming@bccresearch.com.
The Market for Thermal Management Technologies( SMC024K )
Publish Date: Mar 2016
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