The Thermal Management Technologies Market is anticipated to grow at a robust CAGR over the forecast period (2020-2027).

The factors driving growth of the Thermal Management Technologies Market includes growing focus on using renewable sources of energy, increasing demand for consumer electronics devices such as smartphones and tablets, rise in the production of smart home devices and improvements in the living standards. Moreover, development of charging infrastructure of electric vehicles, advancements in jet impingement mechanisms, and cold plates, rising popularity of miniaturized devices, increase in the launch of new products and rapid urbanization, are some of the additional factors supplementing the Thermal Management Technologies Market size. In addition, the increasing investments by major companies on research and development, strategic partnerships, and collaborations between enterprises, rising population growth rates and growing disposable incomes, are further contributing towards the market growth. 

However, growth of the Thermal Management Technologies Market is hindered due to technological problems linked with components.

The major players operating in the market are Honeywell International Inc., Laird, Momentive, Boyd Corporation, Advanced Cooling Technologies, ALE International, Pentair, Miba AG, Heatex, and SAPA S.p.A., among others.

Based on Product Type, the Hardware segment is predicted to grow at a significant CAGR during the forecast period

Rising focus of manufacturers on developing energy efficient devices and increasing use of heat removal solutions in high-volume commodity systems, are some of the factors pushing growth of the segment.

Based on Applications, the Computers segment is projected to grow at a higher CAGR over the forecast period

Growing demand for thermal management technology solutions for optimizing computer cooling processes to control huge amount of heat produced during operations, which is propelling segment’s growth.  

Based on Region, the Asia-Pacific region is estimated to grow at a higher CAGR during the forecast period

As per the Thermal Management Technologies Market Analysis, Government policies promoting the use of renewable sources of energy, growing demand for consumer electronic products, rapid urbanization, and high population growth rates, are some of the important factors expanding the market growth in Asia-Pacific.

Key Development

  • In 2020, Honeywell International, launched Solstice E-cooling, which can be used to remove heat from electronic applications to decrease the environmental impacts.

Market Segmentation

Segmentation by Product Type

  • Hardware
  • Software
  • Interface
  • Substrate

Segmentation by Applications

  • Computers
  • Consumer Electronics
  • Telecommunication
  • Automotive Electronics
  • Renewable Energy
  • Others

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

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