Thermal management finds diverse applications in maintaining optimal temperatures across industries. In electronics, it prevents overheating, ensuring device longevity and performance. Features include advanced cooling systems, conductive materials, and smart control mechanisms. Industries like data centers, automotive, and aerospace rely on thermal management to ensure stable operations. Additionally, it's crucial in HVAC systems, ensuring indoor comfort. Efficient thermal management guarantees reliable performance, extends equipment lifespan, and promotes energy efficiency, playing a pivotal role in diverse sectors.
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Data Bridge Market Research analyses that the Global Thermal Management Market is valued at USD 74,55,950 thousand in 2022 and is expected to reach USD 14,639,766.13 thousand by 2030, registering a CAGR of 8.8% during the forecast period of 2023 to 2030. With the trend of electronic devices becoming compact yet more potent, effective heat dissipation becomes vital. Overheating can compromise performance and longevity. Efficient thermal management is essential to ensure devices function optimally, preventing potential damage caused by excessive heat buildup.
Key Findings of the Study
Energy efficiency concerns are expected to drive the market's growth rate
The pursuit of energy-efficient thermal management solutions stems from the need to curb energy usage, lower carbon emissions, and align with environmental mandates. Such solutions not only enhance device performance but also contribute to sustainability efforts. Optimizing heat dissipation and reducing energy waste, industries strive to meet environmental regulations, conserve resources, and foster a greener approach to thermal control in various applications.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Units, Pricing in USD
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Segments Covered
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Offering (Devices, Software, and Services), End-User (Automotive, Data Centers and Servers, Consumer Electronics, Healthcare, Enterprise, Aerospace and Defense, Telecom, Renewable Energy, Food and Beverages, and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Delta Electronics, Inc. (Taiwan), ebm-papst (Germany), Honeywell International Inc. (U.S.), Vertiv Group Corp (U.S.), Boyd (U.S.), Siemens (Germany), Henkel AG & Co., KGaA (Germany), PARKER HANNIFIN CORP (U.S.), Laird Thermal Systems, Inc (U.S.), TAT Technologies Ltd. (Israel), European Thermodynamics Ltd. (U.K.), Autoneum (Switzerland), AI Technology, Inc. (U.S.), Danfoss (Denmark), JARO Thermal, Inc. (U.S.), GENTHERM (U.S.), Kelvion Holding GmbH (Germany), Valeo (France), Miba AG (DAU GmbH & Co KG) (Austria), Robert Bosch GmbH (Germany), Schneider Electric (France), DENSO CORPORATION (Japan), KONTRON AG (Germany), MAHLE GmbH (Germany), Pentair (U.S.), NIDEC CORPORATION (Japan), FURUKAWA ELECTRIC CO., LTD. (Japan), and C&H Technology, Inc. (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis:
The thermal management market is segmented on the basis of offering and by end-user.
- On the basis of offering, the market is segmented into devices, software, and services.
- On the basis of end-user, the market is segmented into automotive, data centers and servers, consumer electronics, healthcare, enterprise, aerospace and defense, telecom, renewable energy, food and beverages, and others.
Major Players
Data Bridge Market Research recognizes the following companies as the major thermal management market players in thermal management market are Delta Electronics, Inc. (Taiwan), ebm-papst (Germany), Honeywell International Inc. (U.S.), Vertiv Group Corp (U.S.), Boyd (U.S.), Siemens (Germany), Henkel AG & Co., KGaA (Germany), PARKER HANNIFIN CORP (U.S.), Laird Thermal Systems, Inc (U.S.), TAT Technologies Ltd. (Israel), European Thermodynamics Ltd. (U.K.),
Market Developments
- In January 2023, Siemens Digital Industries Software has revealed that General Atomics Aeronautical Systems, Inc. (GA-ASI) has embraced the Siemens Xcelerator portfolio. This comprehensive suite comprises software and services tailored for GA-ASI's digital transformation endeavors.
- In January 2023, Autoneum has entered an agreement to purchase Borgers' automotive business, with the deal set to conclude in April 2023, subject to obtaining antitrust clearance.
- In September 2022, Henkel has completed the acquisition of Thermexit, a division of Nanoramic Laboratories specializing in thermal management materials. Through this strategic move, Henkel has solidified its standing within the burgeoning thermal interface material (TIM) market, enhancing its market position and capabilities in this sector.
- In May 2022, extreme Recirculating Chiller has introduced a new platform that showcases top-notch components, eco-conscious refrigerants, components designed for minimal noise, and an easily navigable user interface. All of these features are available at a standard price. This innovative chiller incorporates high-performance variable speed motors to not only decrease noise levels but also minimize heat input to the room.
- In October 2022, TAT's wholly owned subsidiary, Limco Airepair, has entered into an expanded contract agreement with Collins Aerospace, a prominent aerospace and defense product provider. This contract entails the provision of maintenance, repair, and overhaul (MRO) services for Boeing 777 thermal components.
Regional Analysis
Geographically, the countries covered in the thermal management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
Asia-Pacific is expected to be a highest-growing region in the thermal management market during the forecast period 2023 - 2029
In 2022, Asia-Pacific is expected to be the highest-growing region in the thermal management market as economies in the region experience dynamic shifts, and there's increased demand for various products and services, fostering a favorable environment for market expansion. Additionally, a burgeoning middle class, changing consumer preferences, and the adoption of innovative technologies contribute to the region's strong CAGR projection, positioning Asia-Pacific as a key driver of future market growth.
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