Market Overview:
The global thermal management market is expected to grow from USD 9.5 billion in 2018 to USD 17.8 billion by 2030, at a CAGR of 7.5% from 2018 to 2030. The growth of the global thermal management market can be attributed to the increasing demand for advanced cooling solutions across various applications, such as automotive, aerospace and defense, servers and data centers, consumer electronics, and medical equipment. The global thermal management market is segmented on the basis of type into conduction cooling devices, convection cooling devices, hybrid cooling devices, and others. The conduction cooling devices segment is expected to hold the largest share of the global thermal management market in 2018. This can be attributed to their high efficiency and low cost as compared with other types of cooling solutions available in the market.
Product Definition:
Thermal management is the process of controlling a device's temperature. The importance of thermal management is that it allows devices to run at their optimal performance by preventing overheating. Thermal management can be done through passive or active methods. Passive thermal management uses materials that can dissipate heat, such as fins on a heatsink or vents on a device housing. Active thermal management uses fans or other means to circulate air around the device and remove heat.
Conduction Cooling Devices:
Conduction cooling devices are used to remove heat from a system. They can be of the mechanical or thermal variety. The most common example of a mechanical device is the radiator, which is used in automobiles and other consumer electronics to remove heat from electronic components. However, with technological advancements in recent years, there has been an increase in the use of thermally-driven fans for effective cooling as well; this includes computer systems and video cards among others.
Convection Cooling Devices:
Convection cooling devices are used to remove heat from a system. It is mainly used in computer systems, electrical & electronics, and other industrial applications. Convection cooling can be defined as the transfer of heat by means of hot air or vapor. The most common example of convection cooling is the air conditioner which uses hot air for cooling down the room temperature.
The global thermal management market size was valued at USD 10,700 million in 2015.
Application Insights:
The global demand for thermal management systems is witnessing a paradigm shift due to the growing need for managing heat generated by electronic devices. The automotive sector was the largest consumer of these systems in 2017 and is expected to grow at a CAGR of XX% over the forecast period, owing to its increasing penetration across countries such as India, China and Japan.
Electronics are one of the most energy-efficient industries; however, they contribute significantly towards environmental degradation through their waste disposal practices. Electronics take part in various stages of manufacturing including raw material procurement; component extraction; assembly & packaging; testing & inspection before being shipped out from production lines worldwide. These extraction processes generate huge amounts of waste that require proper disposal methods leading to an increase in demand for environmental protection products globally which will drive growth further during this period.
Regional Analysis:
The market in North America is expected to grow at a significant rate over the forecast period owing to the presence of major players such as Honeywell International Inc.; Emerson Electric Co.; and Johnson Controls, Inc. The region accounted for over 30% revenue share in 2016 and is projected to reach USD X billion by 2030.
The increasing demand for data centers across various industries along with rising investments in HVAC systems due to rapid growth of commercial sector is anticipated to drive the market growth during the forecast period. Furthermore, growing adoption of thermal management solutions by end-use industries such as aerospace & defense and automotive has contributed significantly towards regional growth since past few years.
Growth Factors:
- Increasing demand for thermal management in consumer electronics and semiconductor industries
- Growing awareness about the benefits of thermal management solutions among consumers and businesses
- Proliferation of new technologies that require efficient thermal management solutions
- Rising demand for miniaturized and lightweight thermal management solutions
- Growing popularity of green building initiatives that promote energy efficiency
Scope Of The Report
Report Attributes
Report Details
Report Title
Thermal Management Market Research Report
By Type
Conduction Cooling Devices, Convection Cooling Devices, Hybrid Cooling Devices, Others
By Application
Automotive, Aerospace and Defense, Servers and Data Centers, Consumer Electronics, Medical Equipment
By Companies
DENSO, Valeo, MAHLE, Hanon Systems, Honeywell, Vertiv, Gentherm, Delta, Laird, Boyd Corporation, Heatex, European Thermodynamics, Advanced Cooling Technologies, Dau Thermal Solutions
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
244
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Thermal Management Market Report Segments:
The global Thermal Management market is segmented on the basis of:
Types
Conduction Cooling Devices, Convection Cooling Devices, Hybrid Cooling Devices, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Automotive, Aerospace and Defense, Servers and Data Centers, Consumer Electronics, Medical Equipment
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- DENSO
- Valeo
- MAHLE
- Hanon Systems
- Honeywell
- Vertiv
- Gentherm
- Delta
- Laird
- Boyd Corporation
- Heatex
- European Thermodynamics
- Advanced Cooling Technologies
- Dau Thermal Solutions
Highlights of The Thermal Management Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Conduction Cooling Devices
- Convection Cooling Devices
- Hybrid Cooling Devices
- Others
- By Application:
- Automotive
- Aerospace and Defense
- Servers and Data Centers
- Consumer Electronics
- Medical Equipment
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Thermal Management Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Thermal management is the process of managing a system's temperature in order to achieve desired performance. Thermal management can be divided into two main categories: active and passive thermal management. Active thermal management involves using energy sources, such as fans or heat pipes, to actively cool or heat a system. Passive thermalmanagementinvolves using environmental factors (such as air flow) to passively control the temperature of a system.
Some of the key players operating in the thermal management market are DENSO, Valeo, MAHLE, Hanon Systems, Honeywell, Vertiv, Gentherm, Delta, Laird, Boyd Corporation, Heatex, European Thermodynamics, Advanced Cooling Technologies, Dau Thermal Solutions.
The thermal management market is expected to grow at a compound annual growth rate of 7.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Thermal Management Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Thermal Management Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Thermal Management Market - Supply Chain
4.5. Global Thermal Management Market Forecast
4.5.1. Thermal Management Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Thermal Management Market Size (000 Units) and Y-o-Y Growth
4.5.3. Thermal Management Market Absolute $ Opportunity
5. Global Thermal Management Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Thermal Management Market Size and Volume Forecast by Type
5.3.1. Conduction Cooling Devices
5.3.2. Convection Cooling Devices
5.3.3. Hybrid Cooling Devices
5.3.4. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Thermal Management Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Thermal Management Market Size and Volume Forecast by Application
6.3.1. Automotive
6.3.2. Aerospace and Defense
6.3.3. Servers and Data Centers
6.3.4. Consumer Electronics
6.3.5. Medical Equipment
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Thermal Management Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Thermal Management Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Thermal Management Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Thermal Management Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Thermal Management Demand Share Forecast, 2019-2029
9. North America Thermal Management Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Thermal Management Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Thermal Management Market Size and Volume Forecast by Application
9.4.1. Automotive
9.4.2. Aerospace and Defense
9.4.3. Servers and Data Centers
9.4.4. Consumer Electronics
9.4.5. Medical Equipment
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Thermal Management Market Size and Volume Forecast by Type
9.7.1. Conduction Cooling Devices
9.7.2. Convection Cooling Devices
9.7.3. Hybrid Cooling Devices
9.7.4. Others
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Thermal Management Demand Share Forecast, 2019-2029
10. Latin America Thermal Management Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Thermal Management Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Thermal Management Market Size and Volume Forecast by Application
10.4.1. Automotive
10.4.2. Aerospace and Defense
10.4.3. Servers and Data Centers
10.4.4. Consumer Electronics
10.4.5. Medical Equipment
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Thermal Management Market Size and Volume Forecast by Type
10.7.1. Conduction Cooling Devices
10.7.2. Convection Cooling Devices
10.7.3. Hybrid Cooling Devices
10.7.4. Others
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Thermal Management Demand Share Forecast, 2019-2029
11. Europe Thermal Management Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Thermal Management Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Thermal Management Market Size and Volume Forecast by Application
11.4.1. Automotive
11.4.2. Aerospace and Defense
11.4.3. Servers and Data Centers
11.4.4. Consumer Electronics
11.4.5. Medical Equipment
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Thermal Management Market Size and Volume Forecast by Type
11.7.1. Conduction Cooling Devices
11.7.2. Convection Cooling Devices
11.7.3. Hybrid Cooling Devices
11.7.4. Others
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Thermal Management Demand Share, 2019-2029
12. Asia Pacific Thermal Management Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Thermal Management Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Thermal Management Market Size and Volume Forecast by Application
12.4.1. Automotive
12.4.2. Aerospace and Defense
12.4.3. Servers and Data Centers
12.4.4. Consumer Electronics
12.4.5. Medical Equipment
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Thermal Management Market Size and Volume Forecast by Type
12.7.1. Conduction Cooling Devices
12.7.2. Convection Cooling Devices
12.7.3. Hybrid Cooling Devices
12.7.4. Others
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Thermal Management Demand Share, 2019-2029
13. Middle East & Africa Thermal Management Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Thermal Management Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Thermal Management Market Size and Volume Forecast by Application
13.4.1. Automotive
13.4.2. Aerospace and Defense
13.4.3. Servers and Data Centers
13.4.4. Consumer Electronics
13.4.5. Medical Equipment
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Thermal Management Market Size and Volume Forecast by Type
13.7.1. Conduction Cooling Devices
13.7.2. Convection Cooling Devices
13.7.3. Hybrid Cooling Devices
13.7.4. Others
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Thermal Management Demand Share, 2019-2029
14. Competition Landscape
14.1. Global Thermal Management Market: Market Share Analysis
14.2. Thermal Management Distributors and Customers
14.3. Thermal Management Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. DENSO
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Valeo
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. MAHLE
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Hanon Systems
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Honeywell
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Vertiv
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Gentherm
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Delta
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Laird
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Boyd Corporation
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Heatex
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. European Thermodynamics
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Advanced Cooling Technologies
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Dau Thermal Solutions
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
