New York, United States , July 10, 2023 (GLOBE NEWSWIRE) -- The Global Thermal Management Market Size is to grow from USD 9.25 Billion in 2022 to USD 22.10 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 9.1% during the forecast period.
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Thermal management involves the control and regulation of heat in electronic devices and systems to maintain their optimal operating temperature. It is essential for ensuring reliability, performance, and longevity of components. Techniques like heat sinks, fans, thermal interface materials, and liquid cooling systems are employed to dissipate excess heat. With increasing power densities and miniaturization, thermal management is crucial for preventing overheating, reducing energy consumption, and improving system efficiency. It helps prevent thermal-induced failures and ensures the safe and reliable operation of electronic devices in various applications.
Report Coverage
This research report categorizes the market for thermal management market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the thermal management market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the thermal management market.
Browse key industry insights spread across 200 pages with 125 Market data tables and figures & charts from the report on, "Global Thermal Management Market Size, Share, and COVID-19 Impact Analysis, By Material Type (Adhesive Materials and Non-adhesive Materials), By Device (Conduction Cooling Devices, Convection Cooling Devices, Advanced Cooling Devices, and Hybrid Cooling Devices), By Service (Installation & Calibration and Optimization & Post-Sales Support), By End-User (Consumer Electronics, Servers & Data Centers, Automotive, Aerospace & Defense, Enterprises, Healthcare, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032" Get Detailed Report Description Here:
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The installation & calibration and optimization segment is expected to grow at a CAGR of around 8.7% during the forecast period.
Based on service type, the global thermal management market is segmented into installation & calibration and optimization & post-sales support. the installation and calibration, and optimization segment is projected to experience notable growth. This growth can be attributed to advanced technologies continue to evolve, there is an increased need for precise installation and calibration of various systems and equipment. Additionally, optimizing the performance and efficiency of these systems has become a critical requirement. With the rapid adoption of technologies such as automation, artificial intelligence, and IoT, businesses are seeking professional services to ensure proper installation, calibration, and optimization of their systems. This segment offers valuable expertise and solutions to companies aiming to maximize the performance and operational efficiency of their technological investments, driving the growth of this particular market segment.
The conduction cooling devices segment is expected to grow at a CAGR of around 9.4% during the forecast period.
Based on device, the global thermal management market is segmented into conduction cooling devices, convection cooling devices, advanced cooling devices, and hybrid cooling devices. The conduction cooling devices segment is expected to witness significant growth in the forecast period. This can be attributed to the increasing demand for advanced electronic devices with higher power densities and miniaturization has led to a greater need for efficient conduction cooling solutions. These devices facilitate the transfer of heat through direct contact, ensuring effective heat dissipation and temperature regulation. With the growing adoption of technologies such as electric vehicles, 5G, and high-performance computing, the demand for conduction cooling devices is expected to rise, driving the growth of this market segment.
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Asia-Pacific is predicted to grow at a highest CAGR of around 11.4% over the projected period.
Based on region, Asia-Pacific is expected to experience fastest growth in the forecast period in the thermal management market. The region's robust manufacturing sector, particularly in the electronics and automotive industries, is driving the demand for thermal management solutions to address the increasing heat generation in advanced devices. The rapid urbanization and infrastructure development in countries like China and India are creating a need for efficient cooling systems in buildings and data centers. Additionally, the growing adoption of emerging technologies such as 5G, IoT, and AI in the region is fueling the demand for effective thermal management to ensure optimal performance and reliability.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global thermal management market include Henkel, Honeywell International Inc., Vertiv Co., Delta Electronics, Inc., Parker Chomerics, TAT Technologies Ltd., Boyd, European Thermodynamics Ltd., Laird Thermal Systems, Etitive Landscape, Advanced Cooling Technologies Inc., Gentherm Inc., Autoneum Holding AG, Sapa Extrusions Inc., AllCell Technologies, Thermacore Inc., Pentair Thermal Management, and Outlast Technologies LLC and Among Others.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global thermal management market based on the below-mentioned segments:
Thermal Management Market, By Material Type
- Adhesive Materials
- Non-adhesive Materials
Thermal Management Market, By Device
- Conduction Cooling Devices
- Convection Cooling Devices
- Advanced Cooling Devices
- Hybrid Cooling Devices
Thermal Management Market, By Service
- Installation & Calibration
- Optimization & Post-Sales Support
Thermal Management Market, By End-User
- Consumer Electronics
- Servers & Data Centers
- Automotive
- Aerospace & Defense
- Enterprises
- Healthcare
- Others
Thermal Management Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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