The Heat Pipes Market Size to grow by USD 976.78 million | Market Insights highlights the Growth in the HVAC Industry as a Key Driver | Technavio

NEW YORK, Jan. 10, 2022 /PRNewswire/ -- According to the research report "Heat Pipes Market by End-user and Geography - Forecast and Analysis 2021-2025", the market will witness a YOY growth of 5.75% in 2021 at a CAGR of 6.17% during the forecast period. Furthermore, this report extensively covers market segmentation by end-user (aerospace and defense, automotive, food and beverage, and others) and geography (APAC, Europe, North America, South America, and MEA).

Attractive Opportunities in Heat Pipes Market by End-user and Geography - Forecast and Analysis 2021-2025

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Vendor Insights 

The heat pipes market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Currently, a lot of local and regional vendors offer high-tech, highly customized items at lower prices than foreign vendors. The market is likely to become more competitive in the next years as a result of increased product expansions and technological advancements, as well as increased M&A activity.

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

  • Advanced Cooling Technologies Inc.
  • Avnet Inc.
  • Foxconn Technology Group
  • Furukawa Electric Co. Ltd.
  • Innergy Tech Inc.
  • Nidec Corp.
  • Novark Technologies Inc.
  • ThermoTek Inc.
  • Wakefield Thermal Solutions Inc.
  • WTL Heat Pipe Technology Co. Ltd.

Find additional highlights on the growth strategies adopted by vendors and their product offerings, Read Free Sample Report. 

Geographical Market Analysis 

APAC will provide maximum growth opportunities in the heat pipes market during the forecast period. According to our research report, the region will contribute 38% of the global market growth and is expected to dominate the market through 2025. China is the largest market for food processing and a major revenue contributor in the region.

Food manufacturers are likely to expand their operations and invest in extra manufacturing capacity in developing nations such as India, China, and Japan as a result of factors such as rising demand for processed foods and changing dietary patterns. In addition, rising disposable incomes and shifting food consumption practices are predicted to drive demand for processed foods and non-staple goods. This is expected to propel the demand for heat pipes in APAC.

Furthermore, countries such as APAC, Europe, North America, South America, and MEA are expected to emerge as prominent markets for the heat pipes market during the forecast period. 

Know more about this market's geographical distribution along with the detailed analysis of the top regions. https://www.technavio.com/report/heat-pipes-market-industry-analysis

Key Segment Analysis

The heat pipes market share growth by the aerospace and defense segment will be significant during the forecast period. Heat pipes are widely used in the aerospace and military industries, allowing designers to create moving actuators, military aircraft, particularly in cooling electronics in general aviation fleets, remote terminals, and other components while maintaining thermal control in harsh situations. Due to high production levels, the commercial aviation sector is likely to see robust revenue growth during the forecast period, driven mostly by demand for next-generation aircraft and increased passenger traffic. In addition, during the next two decades, the number of commercial passengers is predicted to quadruple, driving up demand for commercial aircraft.

View FREE Sample: to know additional highlights and key points on various market segments and their impact in coming years. 

Key Market Drivers & Trends: 

One of the key factors driving growth in the heat pipes market is the growth in the HVAC industry. In HVAC systems, heat pipes are commonly utilized to recover energy from the cooling and heating phases.

The need for HVAC controls will be driven by the increased demand for controlling heating and air conditioning equipment (thermostats) in the United States. The increased need for air quality monitoring systems in emerging nations like China, which helps to reduce the prevalence of respiratory disorders, is expected to drive market expansion.

Heat pipes will be in higher demand as more HVAC equipment is installed in residential, commercial, and industrial buildings. Nearly 40% of the electricity utilized in commercial buildings is consumed by HVAC.  Therefore, the growth of the HVAC industry will drive the market for heat pipes globally. The use of LHP and PHP in avionic systems is another factor supporting the heat pipes market share growth.

Download free sample for highlights on market Drivers & Trends affecting the heat pipes market. 

Customize Your Report 

Don't miss out on the opportunity to speak to our analyst and know more insights about this market report. Our analysts can also help you customize this report according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time.  

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Related Reports: 

Piston Market by Application and Geography - Forecast and Analysis 2022-2026

Heat Pipes Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 6.17%

Market growth 2021-2025

$ 976.78 million

Market structure

Fragmented

YoY growth (%)

5.75

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 38%

Key consumer countries

US, China, Germany, UK, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Advanced Cooling Technologies Inc., Avnet Inc., Foxconn Technology Group, Furukawa Electric Co. Ltd., Innergy Tech Inc., Nidec Corp., Novark Technologies Inc., ThermoTek Inc., Wakefield Thermal Solutions Inc., and WTL Heat Pipe Technology Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us: 

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. 

Contact 
Technavio Research 
Jesse Maida 
Media & Marketing Executive 
US: +1 844 364 1100 
UK: +44 203 893 3200 
Email: media@technavio.com 
Website: www.technavio.com/ 

Technavio (PRNewsfoto/Technavio)

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