Thermal Management Technologies Market 2023 | Industry Scope, Size, Share, Trends, Growth and Forecast 2028

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The global thermal management technologies market size reached US$ 12.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.79% during 2023-2028

According to the latest report by IMARC Group “Thermal Management Technologies Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global thermal management technologies market size reached US$ 12.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.79% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Thermal management technologies are used to monitor, control, and regulate temperatures generated by devices in electrical enclosures. They rely on several substrates within the circuitry for efficient heat dissipation, which aids in improving reliability and preventing premature failure of electronic devices. As a result, they find applications in data centers, consumer electronics, and automobiles across the globe.

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Thermal Management Technologies Market Trends:

Significant growth in the electronics industry, along with the escalating demand for miniaturized devices with effective thermal management solutions in consumer electronics, represents one of the key factors positively influencing the market. Apart from this, the increasing adoption of thermal management technologies in hybrid electric vehicles (HEVs) is strengthening the market growth. Furthermore, technological advancements, such as cool chips, cold plates, heat vapor chambers, and jet impingement mechanisms, are bolstering the market growth. Moreover, leading players are investing in research and development (RD) activities to develop advanced thermal management technologies that help minimize fuel consumption, increase mileage, provide optimal safety, and enhance the comfort level of passengers.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Product:

  • Hardware
  • Software
  • Interface
  • Substrates

Breakup by Application:

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

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Competitive Landscape:

  • Advanced Cooling Technologies Inc.
  • Autoneum Holding AG
  • Gentherm Inc., Heatex Inc. (Madison Industries)
  • Henkel AG Co. KGaA
  • Honeywell International Inc.
  • Laird Thermal Systems Inc.
  • Momentive Performance Materials Inc.
  • Parker-Hannifin Corp.
  • Thermal Management Technologies.

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