Thermal Management Market: Global Industry Analysis and Forecast (2022-2029)

Thermal Management Market size was valued at US$ 9.54 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 8.5% through 2022 to 2029, reaching nearly US$ 18.34 Bn.
Thermal Management Market Overview:
Thermal management is the ability to maintain the temperature of a system using technologies based on thermodynamics and heat transfer. To improve reliability and minimise early failure, all electronic devices and circuitry need thermal management. The rate of temperature output is equal to the power input if there are no other energy exchanges. Thermal management materials are a diverse group of products developed to efficiently dissipate heat in electronic applications. They're composite structures that help components transmit heat efficiently. Within components, these solutions perform a variety of functions.

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Thermal Management Market Dynamics:
The thermal management market is growing due to the rising demand for thermal management solutions and systems in various end-use industries such as healthcare, automotive, and aerospace and military. The increasing use of large and small size, high power devices in the healthcare industry for treatment and analytical applications is driving up demand for thermal management solutions and systems, which is driving the thermal management market forward. These are the major key factors that are expected to drive the growth of the global market during the forecast period 2022-2029.

The optimization of cooling system designs to minimize power consumption, weight, and cost, as well as the testing of component designs, are all issues related to cooling system manufacturing. Another major issue encountered during the design of thermal components is lowering the power demands of cooling systems without compromising their performance and reliability. Power dissipation is an important consideration when developing electronic systems. Increasing clock rates and microprocessor transistor counts cause design complexity in cooling system components, hampering the market's growth.

Cool chips are a type of active cooling technology that uses chips to cool electronic components in computers and autos. Chips are used to overcome heat dissipation concerns in electronic devices in the intrachip/interchip improved cooling (ICECool) method, for example. This technology is used to create microfluidic embedded systems. These microfluids aid in the early stages of electronic system design by addressing thermal management challenges. This cooling technology can be used to increase the thermal resistance and performance of electronic devices in the design and production of microlevel chips.
Global Thermal Management Market Segment Analysis:
Based on the Material, the market is segmented into Adhesive Material, and Non adhesive Material. Non adhesive Material segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. These materials become recharged in parallel with the continually changing environmental temperatures, which makes them excellent for many everyday applications that require temperature management.

Based on the Device, the market is segmented into Conduction Cooling Devices, Convection Cooling Devices, Advanced Cooling Devices, and Hybrid Cooling Devices. Convection Cooling Devices segment is expected to hold the largest market share of xx% by 2029. The usage of convection cooling devices in electronic components and circuits is becoming increasingly popular. Using natural and forced convection cooling technologies, these devices help to reduce the peak temperature of various components where they are positioned. The significant market share for these devices in the Asia Pacific region is due to the region's growing consumer electronics market.



Based on the End-Use Industry, the market is segmented into Aerospace & Defense, Automotive, Servers & Data Centers, Consumer Electronics, Enterprises, Healthcare, and Others. Servers & Data Centers segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2022-2029. Thousands of data processing devices, such as servers, switches, and routers, emit huge amounts of energy and heat at data centres. The heat created in these data centres must be effectively drained to avoid a rise in temperature and, as a result, a loss of reliability, resulting in increased maintenance expenses.
Global Thermal Management Market Regional Insights:
Asia Pacific dominates the Global Thermal Management market during the forecast period 2022-2029. Asia Pacific is expected to hold the largest market share of xx% by 2029. The thermal management market in Asia Pacific is driven by the growth of the consumer electronics industry in Asian economies such as China, Japan, South Korea, and India. The region has also emerged as a focal point for leading companies in the thermal management market to increase their investment and business growth capabilities. The region's favourable economic environment and low labour costs are the major drivers of increased business opportunity. In recent years, the region has seen a surge in demand for electric and hybrid automobiles. These are the major factors that drive the growth of this region in the Global market during the forecast period 2022-2029.

The objective of the report is to present a comprehensive analysis of the Global Thermal Management Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Thermal Management Market dynamic, structure by analyzing the market segments and project the Global Thermal Management Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Thermal Management Market make the report investor’s guide.
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Global Thermal Management Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 9.54 Bn.


Forecast Period 2022 to 2029 CAGR:
8.5%
Market Size in 2029:
US $ 18.34 Bn.


 Segments Covered:
by Material
• Adhesive Material
• Non adhesive Material


by Device
• Conduction Cooling Devices
• Convection Cooling Devices
• Advanced Cooling Devices
• Hybrid Cooling Devices


by End-Use Industry
• Aerospace & Defense
• Automotive
• Servers & Data Centers
• Consumer Electronics
• Enterprises
• Healthcare
• Others



Global Thermal Management Market, by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Global Thermal Management Market Key Players
• Honeywell International Inc.
• Aavid Thermalloy LLC
• Vertiv Co
• European Thermodynamics Ltd
• Master Bond Inc.
• Laird PLC
• Henkel AG & Company
• Delta Electronics, Inc.
• Advanced Cooling Technologies, Inc.
• Dau Thermal Solutions Inc.
• Amerasia International Technology Inc.
• Heatex Ab
• Lord Corporation
• Parker Chomerics
• PARKER HANNIFIN CORP
• Gentherm
• Autoneum Holding AG
• AllCell Technologies LLC.
• Thermacore, Inc.

Frequently Asked Questions:

1. Which region has the largest share in Global Thermal Management Market?
Ans: Asia Pacific region holds the highest share in 2021.

2. What is the growth rate of Global Thermal Management Market?
Ans: The Global Thermal Management Market is growing at a CAGR of 8.5% during forecasting period 2022-2029.

3. What is scope of the Global Thermal Management market report?
Ans: Global Thermal Management Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Thermal Management market?
Ans: The important key players in the Global Thermal Management Market are – Honeywell International Inc., Aavid Thermalloy LLC, Vertiv Co, European Thermodynamics Ltd, Master Bond Inc., Laird PLC, Henkel AG & Company, Delta Electronics, Inc., Advanced Cooling Technologies, Inc., Dau Thermal Solutions Inc., Amerasia International Technology Inc., Heatex Ab, Lord Corporation, Parker Chomerics, PARKER HANNIFIN CORP, Gentherm, Autoneum Holding AG, AllCell Technologies LLC., Thermacore, and Inc.

5. What is the study period of this market?
Ans: The Global Thermal Management Market is studied from 2021 to 2029.