Global Thermal Management Market is valued approximately at USD 8.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 8.2% over the forecast period 2020-2027. Thermal Management can control the temperature of a system by means of Technology based on Thermodynamics, conduction, convection, condensation, radiation, and heat transfer. The rising demand for effective thermal management solutions and systems in consumer electronics, increasing use of electronic devices in different end-use industries and ongoing radical miniaturization of electronic devices are the few factors responsible for growth of the market over the forecast period. The increased battery capacity, developing charging infrastructure, and consumer preference for electric vehicles will further drive the market growth. Furthermore, the rising advancements and other strategic alliance by market key players will create a lucrative demand for this market. For instance: in April 2020, Laird Thermal Systems launched the UltraTEC? UTX Series, a new generation of high-performance thermoelectric Coolers. UltraTEC? UTX Series offers 10% boost in heat pumping capacity, greater temperature differential and higher efficiency than standard thermoelectric coolers. However, design complexities of components used in cooling systems is the major factor restraining the growth of global Thermal Management market during the forecast period.
The regional analysis of global Thermal Management market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world owing to the increasing high demand for electric and hybrid vehicles.
Major market player included in this report are:
Honeywell International Inc.
Aavid Thermalloy (Boyd Corporation)
Henkel AG & Company
Master Bond Inc.
Laird Thermal Systems
Delta Electronics Inc.
Advanced Cooling Technologies, Inc.
Parker (Chomerics Division)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Conduction Cooling Devices
Convection Cooling Devices
Advanced Cooling Devices
Hybrid Cooling Devices
Installation & Calibration
Optimization & Post-sales Support
By End-Use Industry:
Aerospace & Defense
Servers & Data Centers
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Thermal Management Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers