Global Thermal Management Market, Trends & Growth Opportunity, By Device Type (Conduction Cooling Devices, Convection Cooling Devices), By Service Type (Installation, Optimization, Support), By End-use (Data Centers, Consumer Electronics, Automotive, Aerospace & Defense, Others), By Region and Forecast till 2030.
Global Thermal Management Market
The Global Thermal Management Market was valued at USD 10.52 Bn in 2022 and is expected to expand to USD 21.34 Bn by 2030 at a CAGR of 8.65% during the forecast period of 2023-2030.
Thermal management involves the technologies and systems used to keep a system operating within its temperature range. Thermal management in electronic devices typically disperses extra heat to regulate temperature and avoid overheating. Most devices generate heat, and if too much heat energy accumulates inside the device, delicate internal parts can be damaged. Similarly, extreme interaction with elevated temperatures can cause electronics to fail. Thermal management solutions are used by engineers in a number of fields, including data centers, automotive, aerospace, batteries, and more.
Market Drivers
One of the key factors driving the market growth is the huge expansion in the electronics industry globally. With advancements in consumer electronics manufacturing technologies, there is a growing demand for miniaturized devices with higher power densities. This, in turn, increases demand for thermal management technologies to reduce the high heat flux produced by such devices. Moreover, the increasing demand for heat dissipation is driving market expansion.
Market Restraints
The design difficulties in the parts used during thermal management, especially in electronic gadgets, are restricting the market's growth. Optimization of the designs to decrease energy usage, weight, and cost are issues associated with cooling system manufacturing. Other challenges while manufacturing cooling system components include establishing efficient airflow channels, selecting coolants, and so on. Another major issue encountered when designing thermal components is reducing the energy requirements of cooling systems without jeopardizing their performance and reliability.
Market Segmentation
The global thermal management market is segmented by device types, such as conduction cooling devices and convection cooling devices. Based on service types, the market is segmented into installation, optimization, and support. Further, the market is segmented by end-uses, such as data centers, consumer electronics, automotive, aerospace & defense, and others.
Regional Analysis
North America is expected to account for the largest market share, owing to increased investments in technological innovation and the implementation of thermal management technologies by diverse industries. This region is home to some of the market's most prominent players, including Parker Hannifin Corp, Honeywell International Inc, and Advanced Cooling Technologies Inc.
Key Players
Honeywell International Inc, European Thermodynamics Ltd, Schneider Electric, Pentair, Henkel AG & Co KGaA, Robert Bosch GmbH, Furukawa Electric Co Ltd, Delta Electronics Inc, Jaro Thermal Inc, Denso Corporation, Parker Hannifin Corp, Laird Thermal Systems Inc, Siemens, Nidec Corporation, Boyd.
Market Taxonomy
By Device Type
• Conduction Cooling Devices
• Convection Cooling Devices
By Service Type
• Installation
• Optimization
• Support
By End-use
• Data Centers
• Consumer Electronics
• Automotive
• Aerospace & Defense
• Others
By Region
• North America (USA, Canada, Mexico)
• Europe (Germany, France, UK, Rest of Europe)
• Asia Pacific (China, India, Japan, Rest of Asia Pacific)
• Latin America (Brazil, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa)
Global Thermal Management Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Thermal Management Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing Economic Downturn
4.2.6 Post Covid-19 World Supply and Demand Conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Thermal Management Market, By Device Type
5.1 Y-o-Y Growth Comparison, By Device Type
5.2 Global Thermal Management Market Share Analysis, By Device Type
5.3 Global Thermal Management Market Size and Forecast, By Device Type
5.3.1 Conduction Cooling Devices
5.3.2 Convection Cooling Devices
6 Global Thermal Management Market, By Service Type
6.1 Y-o-Y Growth Comparison, By Service Type
6.2 Global Thermal Management Market Share Analysis, By Service Type
6.3 Global Thermal Management Market Size and Forecast, By Service Type
6.3.1 Installation
6.3.2 Optimization
6.3.3 Support
7 Global Thermal Management Market, By End-use
7.1 Y-o-Y Growth Comparison, By End-use
7.2 Global Thermal Management Market Share Analysis, By End-use
7.3 Global Thermal Management Market Size and Forecast, By End-use
7.3.1 Data Centers
7.3.2 Consumer Electronics
7.3.3 Automotive
7.3.4 Aerospace & Defense
7.3.5 Others
8 Global Thermal Management Market, By Region
8.1 Global Thermal Management Market Share Analysis, By Region
8.2 Global Thermal Management Market Size and Forecast, By Region
9 North America Thermal Management Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 North America Thermal Management Market Share Analysis, By Device Type
9.3 North America Thermal Management Market Size and Forecast, By Service Type
9.4 North America Thermal Management Market Size and Forecast, By End-use
9.5 North America Thermal Management Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10 Europe Thermal Management Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Europe Thermal Management Market Share Analysis, By Device Type
10.3 Europe Thermal Management Market Size and Forecast, By Service Type
10.4 Europe Thermal Management Market Size and Forecast, By End-use
10.5 Europe Thermal Management Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.5.4 Rest of Europe
11 Asia Pacific Thermal Management Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Asia Pacific Thermal Management Market Share Analysis, By Device Type
11.3 Asia Pacific Thermal Management Market Size and Forecast, By Service Type
11.4 Asia Pacific Thermal Management Market Size and Forecast, By End-use
11.5 Asia Pacific Thermal Management Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4 Rest of Asia
12 Latin America Thermal Management Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Latin America Thermal Management Market Share Analysis, By Device Type
12.3 Latin America Thermal Management Market Size and Forecast, By Service Type
12.4 Latin America Thermal Management Market Size and Forecast, By End-use
12.5 Latin America Thermal Management Market Size and Forecast, By Country
12.5.1 Brazil
12.5.2 Rest of Latin America
13 Middle East Thermal Management Market Analysis and Forecast (2023-2030)
13.1 Introduction
13.2 Middle East Thermal Management Market Share Analysis, By Device Type
13.3 Middle East Thermal Management Market Size and Forecast, By Service Type
13.4 Middle East Thermal Management Market Size and Forecast, By End-use
13.5 Middle East Thermal Management Market Size and Forecast, By Country
13.5.1 Saudi Arabia
13.5.2 UAE
13.5.3 Egypt
13.5.4 Kuwait
13.5.5 South Africa
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 Honeywell International Inc
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2 European Thermodynamics Ltd
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3 Schneider Electric
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Pentair
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 Henkel AG & Co KGaA
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Robert Bosch GmbH
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Furukawa Electric Co Ltd
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 Delta Electronics Inc
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Jaro Thermal Inc
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies
15.10 Denso Corporation
15.10.1 Overview
15.10.2 Offerings
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies
15.11 Parker Hannifin Corp
15.11.1 Overview
15.11.2 Offerings
15.11.3 Key Financials
15.11.4 Business Segment & Geographic Overview
15.11.5 Key Market Developments
15.11.6 Key Strategies
15.12 Laird Thermal Systems Inc
15.12.1 Overview
15.12.2 Offerings
15.12.3 Key Financials
15.12.4 Business Segment & Geographic Overview
15.12.5 Key Market Developments
15.12.6 Key Strategies
15.13 Siemens
15.13.1 Overview
15.13.2 Offerings
15.13.3 Key Financials
15.13.4 Business Segment & Geographic Overview
15.13.5 Key Market Developments
15.13.6 Key Strategies
15.14 Nidec Corporation
15.14.1 Overview
15.14.2 Offerings
15.14.3 Key Financials
15.14.4 Business Segment & Geographic Overview
15.14.5 Key Market Developments
15.14.6 Key Strategies
15.15 Boyd
15.15.1 Overview
15.15.2 Offerings
15.15.3 Key Financials
15.15.4 Business Segment & Geographic Overview
15.15.5 Key Market Developments
15.15.6 Key Strategies
