In this report, Technavio covers the market outlook and growth prospects of the global semiconductor coolers market for 2016-2020. To calculate the market size, the report considers revenue generated from the sales of semiconductor coolers to semiconductor component manufacturers.
Technavio’s research study segments the global semiconductor coolers market into the following regions:
APAC: largest semiconductor coolers market
The semiconductor cooler market is expected to grow to USD 236.7 million by 2020 at a CAGR of 10.48% during the forecast period. The region was the largest revenue contributor to the global market in 2015. APAC is home to several consumer electronics giants such as Samsung, LG, Sony, and Toshiba. Technological advances in thermoelectric cooling technology are also fueling the region's market growth.
According to Asif Gani, a lead analyst at Technavio for semiconductor equipment, “The growing demand for thermoelectric semiconductor coolers from the consumer electronics and automotive sectors in the region is expected to benefit the market. Better availability of raw materials, low establishment and labor costs, and business-friendly government policies have helped companies to launch their production centers in this region.”
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France, Germany, the UK, and Russia playing a crucial role in the growth of the semiconductor cooler market in EMEA
The semiconductor cooler market in EMEA is expected to grow to USD 178.9 million by 2020, expanding at a CAGR of 6.91% during the forecast period. The market in EMEA is expected to grow significantly during the forecast period, with countries such as France, Germany, the UK, and Russia playing an important role in the growth. The demand for TECs from the automotive sector is increasing significantly in Europe, which is home to a number of prominent automobile manufacturers.
“EMEA's market share is expected to increase because of the high adoption of consumer electronic devices in the region. This has attracted many manufacturing firms in the electronic components industry to the region, resulting in high demand for TECs for heat dissipation and energy harvesting,” says Asif.
Semiconductor cooler market in the Americas to post a CAGR of 6.45% during the forecast period
The semiconductor cooler market in the Americas is expected to grow to USD 161.6 million by 2020 at a CAGR of 6.45% during the forecast period.
The Americas, especially the US and Canada, is a mature market for most technological products. The consumers in the region are early adopters of any emerging technology. With the emergence of new technologies such as the Internet of Things (IoT), there is a rising need for efficient heat dissipation and energy harvesting to meet energy requirements. This will play a vital role in defining the market performance of TECs. Technavio expects the semiconductor cooler market to grow in the region during the forecast period.
Competitive vendor landscape
The global semiconductor cooler market is highly competitive with a large number of vendors competing on the basis of price and quality. Major vendors in the market are Ferrotec, II-VI Marlow Industries, Laird, and TE Technology. Thermoelectric modules that offer a standard solution to consumers have a massive presence in the market. However, vendors are aware that a standard solution will not suffice to meet varied consumer requirements.
The competitive situation in the global semiconductor coolers market is very intense among existing market players, as well as between existing players and new-generation semiconductor vendors. High demand for semiconductor coolers, especially in the consumer electronics and automobile industries, is propelling new players to enter the market.
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