Thermal Management Market Research Report- Global Forecast 2030

Thermal Management Market, By Component (Hardware, Software) By Device (Conduction, Convection), By End-user (Aerospace and Defense, Automotive) - Forecast 2030

ID: MRFR/SEM/2310-HCR | January 2023 | Region: Global | 100 Pages         

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Thermal Management Market

The global thermal management market is expected to reach approximately USD 20.3 Billion by 2030 with 8.20% CAGR during forecast period 2022-2030

By Material Adhesive Materials Nonadhesive Materials
By End-user Automotive Aerospace Consumer Electronics Servers and Data Centers Aerospace and Defense Healthcare
Key Players
Companies Profiled   Honeywell International Inc.    Aavid Thermalloy LLC.    Vertiv Co.    European Thermodynamics Ltd.    Master Bond Inc.    Laird PLC    Henkel AG & Company    KGaA    Delta Electronics Inc.    Advanced Cooling Technologies Inc.    Dau Thermal Solutions Inc.
Market Driving Forces   Expanding utilization of electronic gadgets in various end-use ventures    Continuous extremist scaling down of electronics.
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Thermal Management Market Overview:

Electronic devices produce excess heat most of the time, and the extra heat is used to avoid error and increase efficiency. It can be performed for apps like consumer electronics, manufacturing, consumer electronics, defence, aviation, etc. the increasing demand for effective thermal management solutions and systems used in consumer electronics will increase the market growth. The expanding use of electronic devices in several end-use industries and technological advancement will be a growth factor for the market. The thermal management market is expected to gain approximately USD 20.3 Billion by 2030 with a 8.20% CAGR during 2022-2030. Expanding interest for thermal management techniques and frameworks in various end-use businesses like medical services, auto, and aviation and safeguard are growth factors for the market; increasing demand for natural refrigerants and the advent of cool chips for thermal management in electronic devices is expected to increase the market. Complexities in the design of components used in the cooling system will further impact the market, creating challenges. Including this, COVID 19 is also a challenge for the market and can decrease the customer base.

COVID-19 Analysis:

The thermal management market incorporates significant Tier 1 and 2 providers like Aavid Thermalloy, Honeywell International, Vertiv, European Thermodynamics, Master Bond, Delta Electronics, Advanced Cooling Technologies, Henkel, Laird, and Parker. These providers have their assembling offices spread across different nations across the Asia Pacific, Europe, North America, South America, and RoW. End-use businesses utilize these organizations' thermal management market items like a car, purchaser gadgets, workers and server farms, medical care, and few others. 

Coronavirus affected the activities of the different thermal management industry ventures, yet also influenced organizations of organizations from the previously mentioned enterprises. The low interest for customer electronic gadgets because of lockdown estimates worldwide affected the thermal management market. The nonstop fall in the worldwide interest and fare shipments for auto vehicles is expected to adversely affect the thermal management market. In any case, the thermal management market for warm administration is required to bounce back, claiming to expand requests from the medical care area. Expanding interest for individual observing gadgets is required to drive the market in any event during these seasons of a pandemic.

  • Market Dynamics Drivers:

Expanding interest for thermal management techniques and frameworks in various end-use businesses like medical services, auto, and aviation and safeguard prompts the development of the thermal management market share across the globe. The developing utilization of enormous and miniature size, high force gadgets in the medical care area for therapy and investigation applications is prompting expanded interest for thermal management market arrangements and frameworks, consequently prompting the development of the thermal management market.

  • Opportunities:

Cool chips are a functioning cooling innovation wherein chips go about as cooling specialists for electronic frameworks introduced in PCs and autos. For example, in intrachip/interchip enhanced cooling (ICECool) technique, chips are utilized to defeat heat scattering issues in electronic gadgets. This strategy is utilized to configure inserted frameworks utilizing microfluids. These microfluids help tackle thermal management market issues in the early planning phase of electronic frameworks. This cooling strategy is valuable in creating microlevel chips to improve warm opposition and execution of electronic gadgets. Nanoscale corresponding metal-oxide-semiconductor (CMOS) based incorporated circuits and inserted frameworks use chip cooling for viable thermal management market.

  • Challenges:

The COVID-19 episode has upset the worldwide production network of thermal management in electronics market. The thermal management market gadgets store network is profoundly subject to OEMs and crude material providers, which can't work attributable to the lockdowns implemented across various nations of the world. The active thermal management market is also subject to the interest in thermal management market arrangements from the buyer hardware market. China is the biggest customer and maker of different purchaser electronic items. The closure of the creation exercises in China drove makers of electronic buyer items situated in the US and Europe to incidentally hold their creation exercises.

  • Restraints:

Issues related to the assembling of cooling frameworks streamline their plans to lessen their force utilization, weight, and cost just as a check of plans of parts utilized in them. Bringing down power prerequisites of cooling frameworks without settling on their exhibition and dependability is another serious issue during the planning of warm parts. Force scattering is an essential factor in the planning of various electronic frameworks. Expanding clock rate and microchip semiconductor include lead to plan intricacies in segments utilized in cooling frameworks, accordingly going about as a limitation for developing the thermal management market.

  • Cumulative Growth Analysis:

The worldwide thermal management market size is required to reach around USD 15 billion before the finish of 2023 with a 7% CAGR during the figure period 2017-2023.

  • Value Chain Analysis:

Because of expanding development rate of consumer electronics in the United States, Artificial knowledge (AI), thermal resources management, and quick availability are turning into the essential elements for the following period of class pioneers in cell phones, intelligent home gadgets, and keen speakers which will drive the thermal management market innovations. Convection cooling gadgets are generally utilized in electronic circuits and printed circuit sheets (PCBs). It has brought about the development of the thermal management market. Subsequently, these gadgets help bring down the frameworks' pinnacle temperature with characteristic and constrained convection cooling innovations.

Segment Analysis:

  • By Material

The global thermal management market is fragmented into Adhesive Materials and Nonadhesive Materials because of the material kind. The nonadhesive Materials fragment is required to hold the most significant piece of the pie. The variables can be ascribed to their advantages, such as mechanical stun assimilation limit, getting re-energized couple with the changing encompassing temperature, and making them ideal for different applications requiring temperature control.

  • By End-user:

According to end-use application, the thermal management market is segmented into Automotive, Aerospace, Consumer Electronics, Servers and Data Centers, Aerospace and Defense, and Healthcare. The Consumer Electronics section is expected to have the most elevated CAGR in the guage period. The components can be ascribed to more modest and more intelligent items because of improvements in the gadgets business.

Regional Analysis:

The most extensive offer in the market will be overwhelmed by the Asia Pacific inferable from expanding interest for robust thermal management market arrangements and frameworks, the presence of countless chip producing organizations, and the rising speculations and business extension systems executed by seaward organizations in the locale.

Competitive Landscape:

The thermal management innovations are exceptionally divided, with no player representing a critical piece of the pie. Additionally, neighborhood players are expanding in this market which is making a high contention among the contenders.

Following are the major key player in the Thermal management market:

  • Honeywell International Inc.

  • Aavid Thermalloy LLC.

  • Vertiv Co.

  • European Thermodynamics Ltd.

  • Master Bond Inc.

  • Laird PLC

  • Henkel AG & Company

  • KGaA, 

  • Delta Electronics, Inc.

  • Advanced Cooling Technologies, Inc.

  • Dau Thermal Solutions Inc.

Thermal management market investigation likewise involves a part exclusively devoted to such significant players. The experts give knowledge to the fiscal thermal management market report of the relative multitude of significant players, alongside its item benchmarking and SWOT examination. The painful scene area likewise incorporates essential improvement procedures, the overall industry, and the thermal management market positioning investigation of the previously mentioned players internationally.

Recent Developments:

April 2022

Audi Test Manager, Christoph Kröner, tests thermal management under extreme conditions, such as those that can prevail on Austria's Mt. Grossglockner or California's Death Valley.

An EV technology startup, Matter, on Wednesday unveiled India's active liquid-cooled EV battery pack for electric bikes as well as scooters. The above new battery pack has been named Matter Energy 1.0; it has a unique core characteristic, including an integrated intelligent Thermal Management System and Super Smart Battery Management System.

Kioxia Corporation has introduced the KIOXIA XG8 Series of client SSDs for high-end notebooks, desktops, gaming systems, workstations, and data centre boot applications. It is designed to bring next-generation performance to a demanding client environment.

Report Overview:

The developing interest for successful thermal management solutions and thermal management techniques for use in shopper gadgets and the rising utilization of electronic gadgets in various end-use ventures is relied upon to drive the market over the anticipated years. Additionally, progressing extreme scaling down of electronic and innovative headways in interface materials and manufactured cooling frameworks anticipates that a boost should help the market in the coming years. Also, an upsurge in the interest for common refrigerants and the coming of cool chips for warm administration in electronic gadgets are anticipated to fuel the market during the guage years. Moreover, the thermal management technologies market analysis provides all meaningful information. 

Report Scope:

Report Attribute/Metric Details
  Market Size   USD 20.3 Billion
  CAGR   8.20%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Material, End-user
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Honeywell International Inc., Aavid Thermalloy LLC., Vertiv Co., European Thermodynamics Ltd., Master Bond Inc., Laird PLC, Henkel AG & Company, KGaA,, Delta Electronics Inc., Advanced Cooling Technologies Inc., Dau Thermal Solutions Inc.
  Key Market Opportunities   Nanoscale corresponding metal-oxide-semiconductor (CMOS) based incorporated circuits and inserted frameworks use chip cooling
  Key Market Drivers

  • Expanding utilization of electronic gadgets in various end-use ventures,
  • Continuous extremist scaling down of electronics.

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    Frequently Asked Questions (FAQ) :

    AI Technology, Inc.(U.S.), API Heat Transfer (U.S.), Aavid Thermalloy, LLC (U.S.), Honeywell International Inc (U.S.), Delta Electronics, Inc. (Taiwan), Henkel AG & Co. KGaA (Germany) are the significant contenders in the market.

    A 8.20% CAGR is estimated to shape the development of the market in the coming years.

    The North American region is anticipated to take advantage of the rising investments in technological solutions.

    The segments such as device, component, end-users, and region are estimated to create favorable traction for the market.

    The electronic industry is projected to guide the growth of the market in the imminent period.

    • A decent warmth sink or warmth line to eliminate heat from the force segment. • A high-level thermally conductive interface material. • As dainty as conceivable warm interface material. • Void-free interface material. • The void-free interface between the force gadget, interface material, and the warmth sink (or warmth pipe).

    Thermoelectric coolers are profoundly dependable in light of the fact that they have a strong state development with no moving parts. They are likewise known for having a high interim between disappointments (MTBF). It is hard to assess the lifetime of a thermoelectric cooler, because of the factors in application conditions like changes to warm load, on/off cycling, warmth or cooling, drive circuit and framework plan with security against buildup. All factors can impact the item's lifetime.