Global Heat Sinks Market Report and Forecast 2024-2032

Global Heat Sinks Market Size

The global heat sinks market reached a value of USD 7.37 billion in 2023. The market is further expected to grow at a CAGR of 6.50% between 2024 and 2032, to reach a value of USD 12.99 billion by 2032.

Heat Sinks Market Outlook

• Copper is used in various applications such as industrial facilities, power plants, HVAC systems, and electronic systems due to its superior thermal conductivity.

• China is the largest market for copper heat sinks, followed by Europe and North America.

• Aluminium heat sinks are commonly used in computers to cool CPUs, GPUs, chipsets, and RAM modules, as well as in high-power semiconductor devices like power transistors and optoelectronics such as LEDs and lasers.

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Heat Sinks Market Growth

A heat sink refers to an electronic device thermally conductive in nature, which draws up and disseminates heat, away from a high temperature system. Heat sinks are usually made up of metals such as aluminium or copper, which are used to cool down internal systems of several industrial components like refrigerators, CPU, and transistors, among others.

Some of the key drivers bolstering the heat sinks market development include the increasing demand for heat sinks due to the expansion of semiconductor manufacturing businesses in regions like China and South Korea, the rising car production globally leading to a higher need for heat sinks, and the growing demand for servers and data centres.

Additionally, the trend towards designing electronics systems with increased functionality in smaller form factors is boosting the demand for heat sinks, especially with the upcoming implementation of technologies like 5G, which will require efficient thermal management solutions to support industries like smart cities, robotics, and manufacturing automation.

Key Trends and Developments

Rising use of heat sinks in semiconductor devices, increasing production of commercial vehicles, and growing investments for developing power plants are boosting the heat sinks market growth

January 2024

SUNON INC Branch recently unveiled a state-of-the-art facility in La Verne, CA, showcasing its expertise as a total thermal solution provider. This milestone highlights SUNON's commitment to leading in thermal management technology.

December 2023

NXP released a battery cell controller IC designed to provide higher levels of safety and reliability in automotive battery management. The MC33774 IC can accurately measure battery cell voltages to within 0.8 mV, monitor up to 18 cells simultaneously, and perform passive cell balancing.

May 2023

Toshiba released a new integrated circuit solution called "Thermoflagger" that allows designers to detect overtemperature in their systems and respond accordingly. This reduces system design complexity and provides a simple yet effective solution for monitoring temperature rises in electronic equipment.

Rising use of heat sinks in semiconductor devices

Rising application of heat sinks in high-power semiconductor devices is a crucial driving factor of the market. The increasing demand for heat sinks to manufacture high-end consumer electronics are expected to bolster the market dynamics in the forecast period.

Increasing production for passenger and commercial vehicles

The increasing demand for passenger and commercial vehicles, supported by rising disposable income, rapid urbanisation, and expanding competitive landscape of the automotive sector, are increasing the incorporation of heat sinks in automobiles, thereby expanding the heat sinks market size.

Demand for heating equipment in residential sector

Some of the other crucial components in which heat sinks are used are HVAC systems and gas water heaters. The increasing demand for these types of equipment in residential and commercial sectors is aiding the heat sinks market expansion.

Growing development of power plants

Furthermore, heat sinks are integral parts of power plants to improve thermal management systems. Rising investments in the development of power plants in emerging economies are expected to generate higher revenue in the market for heat sinks in the coming years.

Heat Sinks Market Trends

As the automotive industry shifts towards electric mobility, the demand for heat sinks in EVs is increasing. Heat sinks play a crucial role in managing the thermal requirements of electric vehicle components, such as batteries, motors, and power electronics, ensuring optimal performance and longevity. Tesla, a leading EV manufacturer, utilises advanced heat sink technologies in its vehicles to maintain optimal operating temperatures and maximise efficiency. This trend is impacting the heat sinks market outlook by driving the adoption of advanced thermal management solutions in the automotive sector.

Moreover, the increasing demand for data processing capabilities and the growth of cloud computing services are driving the need for advanced heat sink technologies to dissipate the heat generated by servers and processors effectively. Companies like Vertiv and Rittal have developed specialised heat sink solutions for data centre applications, incorporating features like high airflow and low noise levels to ensure efficient cooling.

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Heat Sinks Industry Segmentation

The EMR’s report titled “Heat Sinks Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

• Copper Heat Sink

• Aluminium Heat Sink

• Copper Aluminium Heat Sink

Market Breakup by Industry Vertical

• Automobile

• Electronic

Market Breakup by Region

• North America

• Europe 

• Asia Pacific 

• Latin America 

• Middle East and Africa

Heat Sinks Market Share

Aluminium heat sinks leads the market due to their corrosion resistance and excellent thermal conductivity

The aluminium heat sink segment, based on product type, accounts for a healthy share of the market. Aluminium heat sinks are lightweight, corrosion resistant, strong, durable, and offer excellent thermal conductivity making them more efficient compared to their counterparts. In addition, aluminium is easy to fabricate and is cheaper compared to other metals, thereby, enhancing the manufacturing efficiency of aluminium heat sinks.

Meanwhile, the copper heat sink segment is anticipated witness a stable growth in the forecast period, owing to the increased service life offered by it. As per heat sinks market analysis, the increasing applications of copper heat sinks in graphic cards, chassis, and hard disks, among other computer components, is expected to fuel the demand for copper heat sinks.

Automobile segment is witnessing significant growth due to the increasing sale of electric vehicles

Based on industry vertical, the automobile segment accounts for a significant heat sinks market share. Heat sinks ensure safety of an automobile and enhance performance, leading to greater customer satisfaction. In addition, heat sinks are crucial for maintaining electrical vehicle thermal management, boosting performance, longevity, and safety. In this regard, the increasing sale of electric automobiles is fuelling the growth of this segment.

Moreover, the technological advancements in electric vehicle heat sink designs for enhanced optimisation of battery life and augmented safety, are expected to provide impetus to the market in the forecast period. Further, the stringent standards of various governments aimed towards improving safety and security of automobiles are bolstering the usage of heat sinks in automobiles.

Leading Manufacturers in the Heat Sinks Market

Market players are investing in research and development to create compact, lightweight, and highly efficient heat sink designs to cater to the evolving needs of the electronics industry

Apex Microtechnology was founded in 1980. The company is headquartered in Tucson, Arizona. Apex Microtechnology specialises in manufacturing precision power analogue monolithic, integrated circuits, hybrids, and modules.

Sunonwealth Electric Machine Industry Co. Ltd. was founded in 1980 and is headquartered in Kaohsiung City, Taiwan. It has a vast machinery and industrial product portfolio including DC and AC fan and blowers, cooling modules, fan accessories, and ventilation equipment.

Advanced Thermal Solutions, Inc. was founded in 1989 and is based in Massachusetts, United States. It manufactures and markets diverse industrial equipment such as heat sinks, heat pipes, vapour chambers, liquid cooling systems, instruments, sensors, freezers, and wind tunnels, among others.

Aavid Thermalloy, LLC was founded in 1964 and is headquartered in New Hampshire, United States. It is a leading manufacturer of thermal management solutions and product portfolio of this company includes heat sinks, connectors, embedded solutions, LED lighting, optoelectronics, and semiconductors.

Other key players in the global heat sinks market include CUI Inc., and Comair Rotron, among others.

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Heat Sinks Market Analysis by Region

Asia Pacific region to hold a significant presence in the market due to its robust automotive sector

Asia Pacific holds a sizable market share due to the rise of the consumer electronics sector and increased car production, which drives the demand for heat sinks. Additionally, the expansion of semiconductor manufacturing businesses in countries like China and South Korea is boosting the thermal management market in the Asia Pacific.

In North America and Europe, the heat sink market share is projected to grow rapidly. The demand for servers and data centres has been increasing in these regions, leading to a surge in the need for heat sinks to regulate thermal activities for smooth device operation. The market in North America and Europe is expected to grow at a rapid rate due to the increasing demand for various devices requiring effective thermal management.

Key Highlights of the Report

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Heat Sinks Market Report Snapshots

Heat Sinks Market Size

Heat Sinks Market Growth

Heat Sinks Market Trends

Heat Sinks Market Share

Heat Sinks Manufacturers

Heat Sinks Market Regional Analysis