According to the new market research report "Thermal Management Market with COVID-19 impact Analysis by Material, Device (Conduction, Convection, Advanced, and Hybrid), Service (Installation & Calibration and Optimization & Post-sales Support), End-Use Industry, and Region - Global Forecast to 2025", The global thermal management market is estimated to be USD 12.8 billion by 2025 (forecast year) from USD 8.8 billion in 2020 (estimated year), at a CAGR of 8.2% between 2020 to 2025. The growth of the thermal management market is fueled by rising demand for effective thermal management solutions and systems for use in consumer electronics, increasing use of electronic devices in different end-use industries, and ongoing radical miniaturization of electronic. Moreover, factors such as technological advancements in synthetic cooling systems and interface materials, advent of cool chips for thermal management in electronic devices, and the increasing demand for natural refrigerants play an important role in driving the growth of the market.
Browse 188 market data Tables and 59 Figures spread through 251 Pages and in-depth TOC on "Thermal Management Market with COVID-19 impact Analysis by Material, Device (Conduction, Convection, Advanced, and Hybrid), Service (Installation & Calibration and Optimization & Post-sales Support), End-Use Industry, and Region - Global Forecast to 2025"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/thermal-management-market-155049228.html
The market for nonadhesive thermal management material expected to hold the largest market share during the forecast period
In 2019, the nonadhesive thermal management material segment accounted for the largest share of the thermal management market. Growth of this segment can be attributed to the various benefits provided by these materials which includes getting recharged in tandem with the changing ambient temperature, making them ideal for various applications that require temperature control. Also, these materials have mechanical shock absorption capacity which makes them preferable for automotive applications. Nonadhesive materials such as thermal pads, gap fillers, and grease are used widely in consumer electronic devices such as computers, laptops, and other handheld devices such as tablets. Thermal pads are used to fill the gaps between heat sinks and microprocessors. They eliminate air gaps to reduce thermal resistance and provide low-stress vibration dampening.
Advanced cooling devices expected to grow at the highest CAGR during the forecast period
The growth of this segment can be attributed to the increased adoption of microchannel cooling, cold plate cooling, and direct immersion cooling. The thermally conductive plates provide the most effective way to optimize liquid contact with hot surfaces as they enable the highest level of heat transfer due to the flow of liquid through layers of thermally conductive sheets. Direct immersion cooling is used widely in servers & data centers. In this process, servers are immersed in a nonreactive fluid or coolant for thermal cooling, thus eliminating the requirement for heat fans and heat sinks.
APAC is projected to hold the largest share of thermal management market in 2025
APAC is expected to hold the largest share of the thermal management market in 2025. The commanding position of APAC is due to the presence of a large number of chip manufacturing companies in countries such as China and South Korea. Additionally, increasing investments and business expansion strategies executed by offshore companies in the region is expected to boost the thermal management market growth in the near future. Moreover, increasing demand for effective thermal management solutions and systems from consumer electronics, automotive, defense, and healthcare sectors is also fueling the growth of the thermal management market in APAC.
The report profiles key players, including Honeywell International (US), Aavid Thermalloy (US), Vertiv (US), European Thermodynamics (UK), and Master Bond (US), Advanced Cooling Technologies (US), Henkel (Germany), Laird (UK), Delta Electronics (Taiwan), and Parker (US). These companies focus on adopting both organic and inorganic growth strategies, such as new product launches, partnerships, agreements, mergers and acquisitions, and expansions to strengthen their position in the market.
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