Heat pipe is an important component used in many systems such as heating ventilation and air conditioning (HVAC) systems and electronics systems. The main function of heat pipe is the transfer of heat between the two solid surfaces. Principles such as phase changes and thermal conductivity are effectively used in the heat pipe and the heat transfer between two solid surfaces is achieved. Heat pipe is not very difficult to design and manufacture. Heat pipe offers the applications in different industries. Generally, heat pipe comes with a closed structure and both ends of pipe are sealed.

Market scope and structure

COVID-19 scenario analysis:

• The demand for heat pipes is expected to decrease in the year 2020, owing to low demand from different industries such as manufacturing and aerospace industry due to lockdown imposed by government of many countries.
• COVID-19 pandemic has shut-down production of various products in the heat pipes industry, mainly owing to prolonged lockdown in major global countries. This has hampered growth of the heat pipes market significantly from last few months, as is likely to continue during 2020.
• COVID-19 has already affected sales of equipment and machinery in the first quarter of 2020 and is expected to cause a negative impact on the market growth throughout the year.
• The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of corona virus, thereby halting demand for equipment and machinery.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
• Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors:

Heat pipe comes with a very simple and very easy to manufacture design. Heat pipe is generally a tube or pipe which is sealed. Different types of materials such as aluminum, steel and copper. The material for the heat pipe is selected based upon the working fluid to be used. For water heat pipes, copper is used and for ammonia heat pipe, aluminum is used. The air which is present in the empty heat pipe is removed by using vacuum pump. After that working fluid is filled in a heat pipe up to some level and then heat pipe is sealed.

Working fluids to be used in the heat pipe are selected according to the temperature at which heat pipe is expected to operate. The temperature range varies from low temperature of 2 Kelvin to high temperature of 3000 Kelvin. The working fluids which can be used in the heat pipe include the fluids such as water, ethanol, alcohol, ammonia, indium, sodium, mercury and liquid helium. Generally, for low temperature applications, liquid helium is widely used and for very high temperature applications indium can be used. The applications which operate at room temperature use ammonia as a working fluid in the heat pipe. Water heat pipes and copper heat pipes contains the envelope of copper and it water in the form of working fluid. Operating range of these heat pipes is generally 293 Kelvin to 423 Kelvin. Water heat pipes are filled partially with water and then the water is heated until it boils and after that pipe is sealed.

New product launch to flourish the market:

Many companies in heat pipe market are developing and introducing new products to the market. These new products are technologically more advanced than the previous range of their products. These new products are more efficient and effective in their performance and are widely used in the industry.

In October 2018, Advanced thermal solutions Inc, has launched the new version of heat pipes named as ATS High performance round heat pipes. This heat pipe is capable of transferring the heat with minimum temperature difference. This heat pipe is light in weight and very easy to connect to the heat sink. It is used in many industries such as aerospace and HVAC.

Key driving factors for the growth of heat pipe market:

Heat pipe is considered as one of the important component in many applications such as electronics equipment, HAVC systems, automobiles and aerospace. Because of its wide range of applications, the use of heat pipe is expected further more during the forecast period.

New technology has been introduced in manufacturing of heat pump. Hence the performance of the heat pipes has improved which in turns also resulted in improvement in the performance of the HVAC systems. Hence, the demand for heat pipe is expected to rise during the forecast period.

Key restraining factors for the growth of heat pipe market:

Different machines such as generators and condensers are used in the coal power plant. In these machines heat pipe is used. However,owing to environmental effects, other source of power generation has been used. This could be the key restraining factor for the growth of heat pipe market. 

Key segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the heat pipe market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
• The report provides a detailed heat pipe market analysis based on competitive intensity and how the competition will take shape in coming years.