From 2023 to 2033, the global cold plates market is expected to grow at an impressive compound annual growth rate (CAGR) of 5.3%. The market is expected to be valued at USD 627.7 million by 2033 and USD 374.5 million in 2023, according to a recent FMI report.
Cold plates are heavily demanded applications for various purposes such as refrigeration, medical devices, power generation, and others. The globally rising energy demands and expanding electronics industry are likely to bolster the product demand in the coming years.
The growing demand for electronic products such as tablets, smartphones, laptops, and others augments the demand for cold plates. The significant developments in the electronics industry are likely to create lucrative growth opportunities for the market. Additionally, the growing digitalization across the automotive industry has bumped the demand for cold plates. The increasing purchasing power and rising automotive sales are expected to foster market growth.
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The automotive industry is monumentally expanding due to globally rising living standards and per capita income levels. The increasing incorporation of IoT-based smart automotive components is predicted to further escalate product demand. The growing popularity of autonomous cars is likely to prevail as a key trend during the forecast period.
The rising demand for smart wearable devices and other consumer electronics is anticipated to bolster market growth in the coming years. The increasing inclinations towards micro and advanced electronic devices and services will flourish in growth for the market.
Key Takeaways from the Cold Plates Market:
- The United States is expected to account for the highest market share, capturing a growth rate of 9.0% during the forecast period.
- Within the Asia Pacific region, India, China, and Japan will hold the largest shares. India is predicted to exhibit a growth rate of 6.3% during the forecast period. China is anticipated to attain a growth rate of 5.8%. Japan will showcase a growth rate of 3.5% during the forecast period.
- In the Europe region, Germany will capture the highest share and exhibit a growth rate of 2.5% during the forecast period.
- According to the segmentation based on application, the high-powered electronics segment is expected to capture the highest share and exhibit a growth rate of 17.9% during the forecast period.
Key Players in the Cold Plates Market
- Parker Hannifin Corporation
- Sanhua Holding Group Co., Ltd
- AMS Technologies
- Fujikura Ltd.
- Dana Limited
- Sumitomo Precision Products Co Ltd.
- Columbia Staver Ltd.
- Wieland Microcool
- Wakefield Thermal Solutions Inc.
- Telerex
- Stulz GmbH
- Pollock Industries
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Key Segmentation of the Cold Plates Market
By Product Type:
- Stir Welded Cold Plate
- Press locked Cold Plate
- Vacuum Brazed Cold Plate
- Rolled Tube Cold Plate
- Exposed Tube Cold Plate
- Vortex Cold Plate
- Die-cast Cold Plate
- Other Customized
By Application:
- High Powered Electronics
- Wind Turbines
- Medical Equipment
- IGBT Modules
- Motor Devices
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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