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Thermal Management Market size worth $ 22.5 Billion, Globally, by 2030 at 8.6% CAGR: Verified Market Research®
[August 16, 2022]

Thermal Management Market size worth $ 22.5 Billion, Globally, by 2030 at 8.6% CAGR: Verified Market Research®

The growing demand for effective thermal management solutions and systems for consumer electronics, the rising use of electronic devices and technological advancements in interface materials are expected to drive the Thermal Management Market.

JERSEY CITY, N.J., Aug. 16, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Thermal Management Market" By Material Type (Adhesive Materials, Non-Adhesive Materials), By Device (Conduction Cooling Devices, Convection Cooling Devices), By End-Use (Consumer Electronics, Servers And Data Centers), and By Geography. According to Verified Market Research, the Thermal Management Market size was valued at USD 11.2 Billion in 2021 and is projected to reach USD 22.5 Billion by 2030, growing at a CAGR of 8.6% from 2022 to 2030.


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Global Thermal Management Market Overview

The radical shrinking of electronic devices and technological advancements in interface materials and artificial cooling systems expects a lift to the market within the coming years. The magnified demand for natural refrigerants and also the advent of electronic chips for thermal management in electronic devices are foretold to fuel the market throughout the forecasted years.

Issues related to the production of cooling systems are improvement of their styles to scale back their power consumption, weight, and price yet as verification of styles of parts utilized in them. Lowering the power needs of cooling systems while not compromising on their performance and reliability is another major downside long-faced throughout the planning of thermal parts. Power dissipation is an essential thing in the planning of various electronic systems. Increasing clock rate and microchip junction transistor count result in style complexities in parts utilized in cooling systems, thereby acting as a restraint for the expansion of the Thermal Management Market.

Key Developments

  • In July 2019, BAE Systems Inc. signed an agreement with Kongsberg Protech of Norway for the thermal management module TIM 1500.
  • In October 2020, Rocky Research, a Boulder City, Nevada-based technology leader that specializes in thermal, power, and power control solutions, has been acquired by Honeywell. This acquisition adds to Honeywell's already extensive range, which contains power generation systems, power storage, and energy and thermal management systems.
  • In January 2020, Master Bond introduced the EP17HTS-DA, a new each, no-mix, die-atach epoxy that is conductive and heat resistant. It complies with NASA's low outgassing requirements and has an indeterminate working life at room temperature. It is suggested for applications that require low quantity resistivity as well as high-temperature resistance.

Key Players

The major players in the market are Honeywell International Inc., Aavid Thermalloy LLC., Vertiv Co., European Thermodynamics Ltd., Master Bond Inc., Laird PLC, Henkel AG & Co. KGaA, Advanced Cooling Technologies, Inc., Delta Electronics, Inc., and Dau Thermal Solutions Inc.

Verified Market Research has segmented the Global Thermal Management Market On the basis of Material Type, Device, End-Use, and Geography.

  • 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 End-Use
    • Consumer Electronics
    • Servers and Data Centers
    • Automotive
    • Aerospace and Defence
    • Healthcare
  • Thermal Management Market, by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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Top 5 Thermal Management Systems improving reliability and preventing premature failure

Visualize Thermal Management Market using Verified Market Intelligence -:

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