2025 年 12 月 26 日 电子 终端主动散热时代将至，微型风扇有望 率先拉开规模化序幕 SoC 芯片热流密度持续上升，端侧 AI 推动散热升级 随着芯片制程持续迭代，晶体管密度提升的同时，Dennard Scaling 逐渐失效，导致芯片功耗（TDP）持续攀升，局部高热流密度问题突 出，严重威胁设备可靠性与性能释放。同时，端侧 AI 加速落地，生 成式 AI 手机渗透率及芯片 AI 算力（TOPS）快速提升，进一步加剧了 设备产热。为应对挑战，电子设备散热方案需持续升级，目前主要包 括无需动力的被动散热和效率更高的主动散热，散热技术升级已成为 保障设备体验与推动技术演进的关键环节。 被动材料及器件持续迭代，均热板渗透率不断提高 在被动散热领域，各类材料与器件正持续迭代。传统的金属散热片、 石墨/石墨烯主要依靠高平面导热性扩散热量，而热管则利用相变实 现高效点对点传热，但各有应用局限。均热板（VC）作为核心升级方 向，将热管原理从一维扩展至二维，实现了从点热源到面热源的瞬间 高效扩散，且契合电子设备轻薄化趋势。其技术迭代聚焦于吸液芯结 构、工质与柔性设计（如应对折叠屏需求）的优化，市场渗透率持续 提升。 ...

Core Viewpoint - The article highlights the rising importance of thermal management applications in the tech industry, driven by major players like Nvidia and Apple, which has transformed Taiwanese thermal management companies like Qihong and Shuanghong into market favorites [1] Group 1: Company Insights - Qihong is positioned as a key supplier for Nvidia's water cooling solutions and is also adapting to the shift towards liquid cooling among ASIC clients, capitalizing on the significant thermal management opportunities presented by AI's high energy consumption [1] - With Apple adopting vapor chamber (VC) technology, Qihong anticipates increased shipments of thin VC thermal modules for smartphones, contributing positively to its performance [1] - Qihong's ability to leverage its large production capacity and extensive group resources allows it to target both AI server water cooling and smartphone vapor chamber markets effectively, playing a crucial role in the supply chain [1] Group 2: Market Trends - The industry analysis suggests that Apple is likely to extend vapor chamber cooling technology from the iPhone 17 series to future iPad Pro models, primarily to enhance thermal management and ensure device performance, especially with the integration of AI applications and satellite communication features [1] - The need for advanced thermal management solutions is emphasized as new functionalities are added to devices, highlighting the critical role of thermal technology in improving user experience [1]

Core Viewpoint - The article emphasizes the critical role of thermal management in the performance and reliability of electronic devices, driven by increasing power density due to advancements in technologies like 5G, AI, and IoT. Effective heat dissipation solutions are essential to prevent device failures and ensure optimal operation [7][10][15]. Group 1: Thermal Density and Management - The rise in power density of electronic components necessitates advanced thermal management solutions, as temperature increases can significantly reduce system reliability [7][10]. - The failure rate of electronic components increases exponentially with temperature, with a 50% reduction in reliability for every 10°C increase [7][8]. - The thermal flow density has surged from under 10W/cm² to nearly 100W/cm², driven by both increased power and reduced chip sizes [11][15]. Group 2: Passive Cooling Solutions - Passive cooling methods, which do not use active components, include materials like metal heat sinks, graphite films, and heat pipes, relying on thermal interface materials (TIMs) to transfer heat away from components [23][26]. - Metal heat sinks are effective for low-power devices but face limitations in high-power applications due to their thermal transfer rates [28][31]. - Graphite films have been widely adopted in consumer electronics for their high thermal conductivity in the X-Y plane, although their Z-axis conductivity is limited [32][33]. Group 3: Active Cooling Solutions - Active cooling methods, such as forced air cooling and liquid cooling, are becoming necessary as device power levels increase beyond the capabilities of passive systems [68][69]. - Liquid cooling systems can achieve heat dissipation rates of 10-1000W/cm², significantly outperforming air cooling methods [73][74]. - Data centers are increasingly adopting liquid cooling solutions to manage the rising power density of servers, with some configurations exceeding 30kW per cabinet [80][81]. Group 4: Market Opportunities and Beneficiaries - Companies involved in the development of advanced thermal management solutions, such as VC (vapor chamber) technology and liquid cooling systems, are positioned to benefit from the growing demand for efficient heat dissipation in high-performance electronics [49][54]. - Key players in the market include companies like Feirongda, Suzhou Tianmai, and others that are innovating in thermal management technologies [5][6].