CHICAGO, Jan. 5, 2023 /PRNewswire/ — The global thermal management market was valued at USD 10.7 billion in 2022 and is projected to reach USD 19.3 billion by 2028, registering a CAGR of 9.7% during the forecast period according to a new report by MarketsandMarkets™. The rise in demand for thermal management is attributed to the increasing need for advanced heat dissipation solutions and thermal management components in consumer electronics and the growing use of miniature electronic devices.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=155049228
Browse in-depth TOC on “Thermal Management Market”
250 – Tables
50 – Figures
228 – Pages
By Material: Non-adhesive materials segment to propel market growth
The non-adhesive materials segment accounted for the largest market share of ~73% in 2028. This growth is attributed to the wide use of non-adhesive materials, such as thermal pads, gap fillers, and grease, in consumer electronics such as computers, laptops, and other handheld devices, for example, tablets. These materials are significantly less vulnerable to high electrical currents and are highly efficient in controlling and regulating the temperature of the electronics in which they are used. The non-adhesive materials are also proficient in handling mechanical shocks and absorption, providing more security and reliability to users.
By Device: Convection cooling devices segment to capture largest share of thermal management market in 2028
The convection cooling devices segment accounted for the largest market share of ~45% in 2028. This growth is attributed to the increasing use of convection cooling devices in electronic components, circuits, and printed circuit boards (PCBs). Convection cooling involves the transfer of heat from a card into the ambient air using airflow. Convection cooling techniques can be applied in two ways: through natural airflow and by forced air flow via fans or blowers. The convection medium can be air or any other suitable thermal liquid. Thus, natural convection and forced air convection cooling are two types of convection cooling methods. Natural convection cooling devices do not require external sources, whereas forced air cooling devices require external sources such as pumps, fans, and suction devices for heat transfer. Heat sinks are attached to cooling devices in convection cooling to increase their dissipation area. This allows a large amount of heat to be transferred from devices to heat sinks and then to the ambient air.
By Service: In 2028, optimization & post-sales support segment to hold largest share of thermal management market
The optimization & post-sales support segment is expected to account for the largest market share of ~62% in 2028. Optimization & post-sales support services are provided for critical quality control in servers and data centers as high temperatures can damage them and result in the loss of vital information. Post-sales services typically lead to higher customer satisfaction, brand loyalty, word-of-mouth marketing, and even repeat sales. Optimization & post-sales support services include maintenance and service offerings to reduce downtime of systems, elevate their overall performance levels, and maximize their operational life. They also include flexible service plans that can be customized according to customer requirements, extended product warranties, and comprehensive maintenance and repair plans. These are some key factors contributing to the rising demand for optimization & post-sales support services.
By End-user Industry: Automotive industry to hold largest share of thermal management market in 2028
The automotive industry is likely to account for the largest market share of ~29% in 2028. The increasing use of electric vehicles (EVs), which enable e-mobility and compliance with CO2 emission regulations, is driving the growth of the automotive segment. In the automotive industry, the thermal management of HVAC systems, instrument panels, infotainment systems, satellite navigation systems, head-up displays, and engine and brake management systems is essential. The automotive industry is among the leading consumers of thermal management solutions and systems due to the increasing demand for cables and insulating jackets, chassis suspension systems, automotive hoses, and automotive connectors for effective thermal management in vehicles.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=155049228
Asia Pacific likely to hold largest share of global thermal management market in 2028
Asia Pacific is expected to hold the largest share of ~41% of the thermal management market in 2028. Flourishing chip manufacturing companies in countries such as China and South Korea are contributing to the growth of the thermal management market in Asia Pacific. The thermal management market in Asia Pacific is rapidly growing owing to the increasing demand for these services in countries such as China, Japan, India, South Korea, and Rest of Asia Pacific. The region has become a global focal point for large investments and business expansion opportunities.
The thermal management market is dominated by a few globally established players, such as Henkel (Germany), Honeywell International Inc. (US), Vertiv Co (US), Delta Electronics, Inc. (Taiwan), Parker Chomerics (US), TAT Technologies Ltd. (Israel), Autoneum Holding AG (Switzerland), Boyd (US), European Thermodynamics Ltd. (UK), and Laird Thermal Systems (US).
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=155049228
Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Thermal Interface Pads & Material Market by Type (Phase Change Material, Thermal Grease, Thermal Pads), Products (MOSFET, Thyristor, IGBT), Application (Consumer Electronics, Telecom Equipment, Power Supply Units) – Forecast to 2020
Electronics Conformal Coating Market by Material (Acrylic, Silicone, Parylene, Urethane/Polyurethane, Epoxy), Equipment (Curing, Coating), Method (Brush Coating, Dipping), Application and Geography – Global Forecasts to 2020
EMC Shielding and Test Equipment Market by Type (EMC Shielding, EMC Test Equipment), Vertical (Consumer Electronics, Telecom & IT, Automotive, Healthcare, Aerospace, and Others), Application, and Geography (2020-2025)
EMC Testing Market by Offering (Hardware & Software and services), End-Use Application (Consumer Appliances & Electronics, Automotive, Military & Aerospace, IT & Telecommunications, Medical, Industrial), and Geography – Global Forecast 2024
UV Curing System Market by Technology (UV LED, Mercury Lamp), Type (Spot Cure, Flood and Focused Beam, Conveyor), Pressure Type (High, Medium, Low), Application, Vertical and Geography (2021-2026)
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/thermal-management-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/thermal-management.asp