Pin Fin Heat Sink for IGBT Market to Reach $1.08 Bn, Globally, by 2025 at 4.4% CAGR Allied Market Research
Surge in requirement for effective cooling of consumer electronics appliances through a proper heat dissipation method and increase in demand for power supply devices and utilization of IGBTs drive the growth in the global pin fin heat sink for IGBT market
PORTLAND, Oregon, June 20, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Pin Fin Heat Sink for IGBT Market by Material Type (Copper and Aluminum): Global Opportunity Analysis and Industry Forecast, 2019–2025." According to the report, the global pin fin heat sink for IGBT market garnered $799.4 million in 2018, and is expected to reach $1.08 billion by 2025, growing at a CAGR of 4.4% from 2019 to 2025. The report offers an extensive analysis of changing market dynamics, key investment pockets, and competitive intelligence.
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Surge in requirement for effective cooling of consumer electronics appliances through a proper heat dissipation method and increase in demand for power supply devices and utilization of IGBTs drive the growth in the market. However, lower rate of capacity utilization of pin fin heat sink by manufacturers hinders the growth in the market. On the other hand, upsurge in usage of IGBT modules in the automotive sector for HEVs and usage of hybrid pin fin heat sink create new opportunities in the market.
Aluminum segment to be lucrative throughout the forecast period
Based on material type, the aluminum segment accounted for nearly two-thirds of the total share and will maintain its dominant position throughout the forecast period. Moreover, this segment would register the highest growth rate, with a CAGR of 4.7% from 2019 to 2025. It is a lucrative segment, owing to lower cost of production of extruded aluminum as compared to other materials along with its ability to be anodized or powder coated to maintain its appearance and offer resistance to rusting. Moreover, aluminum is cheap to produce and is extremely lightweight in nature. The research also analyzes the copper segment.
Asia-Pacific to contribute largest share & grow fastest
Asia-Pacific accounted for nearly half of the total market share in terms of revenue in 2017 and is estimated to continue its lead during the forecast period. Moreover, this region is expected to register the fastest CAGR of 5.5% during the forecast period, 2019–2025. This region offers lucrative opportunities, owing to presence of major market players, largest manufacturing plants of IGBT-based products, and rise in utilization of devices to optimally use the natural sources of energy. The report also explores regions including North America, Europe, and LAMEA.