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Electronic Cabinet Cooling System Market Segmented By type such as Thermoelectric Air Conditioners, Compressor-Based Air Conditioners, Vortex Coolers and Air-to-Air Heat Exchangers with mount type such as Through Mount and Flush Mount
The growth in transportation and power generation sectors has led to higher adoption of the electronic cabinet cooling system, which is used to remove excess heat generated by electronics within a panel. Electronic cabinet cooling system is expected to emerge as an important system in the near future and will be used in various applications. Different types of electronic cabinet cooling system are available depending upon the mount type, including through mount and flush mount.
More recently, the electronic cabinet cooling system has been perceiving a heave in demand in power generation, transportation and water systems applications. Electronic cabinet cooling systems are highly used in the power generation industry owing to excess heat generated by electronic components, which can cause trip out or even lead failure. Unwanted heat can either come from external sources or internal sources, including transformers, power supplies, hot climates, industrial machinery, etc.
Ever growing end-use industries, such as industrial automation, chemical, food processing, etc., both in developing and developed economies is expected to be the prime reason driving the growth of the global electronic cabinet cooling system market over the forecast period.
Moreover, the electronic cabinet cooling system enhances the reliability of the electronic component and equipment. This factor is also expected to contribute to the growth of the global market in the coming decade.
High initial cost of the system is expected to be a major factor to hamper the growth of the global electronic cabinet cooling system market over the forecast period. Moreover, improper functioning or failing equipment requires high maintenance and repair expenses and excessive downtime. This is also expected to act as a restraining factor for the growth of the global electronic cabinet cooling system market in the coming years.
A major trend expected five years down the line involves market leaders, both dedicated manufacturers & OEMs, focusing on expanding their global presence and consumer base as the market is highly consolidated with presence of few global and regional players. The manufacturers are competing on the basis of innovation, low cost, product feature and performance.
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The global electronic cabinet cooling system market is segmented into the following regions -- North America, Western Europe, Eastern Europe, Latin America, South East Asia-Pacific, China, Japan, India and the Middle East and Africa. The regional demand dynamics can be directly correlated with the demand from the end-use industries.
Asia Pacific followed by North America is expected to dominate in terms of sales and is expected to remain dominant in terms of demand for electronic cabinet cooling system owing to growth in the telecommunication sector in the regions. Western Europe region is expected to witness significant demand for electronic cabinet cooling system owing to growth in the food processing industries in the region.
Latin America is expected to grow at a significant CAGR during the forecast period owing to growth of end-use industries in the region. The Middle East & Africa is anticipated to grow at a significant pace during the forecast period owing to increasing demand for electronic cabinet cooling system in the region.
Examples of some of the market participants identified across the value chain of the global electronic cabinet cooling system market include: