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% from 2023 to 2028. The rise in demand for thermal management is attributed to the increasing need for advanced heat dissipation solutions.
Henkel; Honeywell International Inc.; Vertiv Co; Delta Electronics, Inc.; Parker Chomerics; TAT Technologies Ltd.; Autoneum Holding AG; Boyd; European Thermodynamics Ltd.; Laird Thermal Systems.; DAU Thermal Solutions Inc; AI Technology, Inc.; Heatex; LORD Corporation; API Heat Transfer; Advanced Cooling Technologies, Inc.; Master Bond Inc.; ThermoTek; JARO Thermal; Danfoss; Kelvion; Gentherm; Outlast Technologies LLC; AllCell Technologies, LLC; and Cox & Company, Inc. are among a few key players in the thermal management market. These players have adopted different growth strategies to enhance their position in the thermal management market. Product launches has been the most dominating strategy adopted by these players from 2019 to 2022 to broaden their customer base.
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Henkel is one of the leading providers of thermal solutions and adhesive materials. The company operates through four business segments—Adhesive Technologies, Beauty Care, Laundry & Home Care, and Corporate. The Adhesive Technologies segment offers customer-specific solutions such as adhesives, sealants, and functional coatings for automotive, consumer electronics, telecommunications, aerospace, medical, power, home appliances, and lighting applications. Under its Adhesive Technologies segment, the companys electronics business offers a specialized portfolio of innovative high-technology adhesives and materials to manufacture microchips, electronics assemblies, and thermal management systems. The company sells its thermal management materials through LOCTITE and Bergquist brands.
Honeywell International Inc.
Honeywell International Inc. is a leading software company committed to introducing state-of-the-art technology solutions to improve efficiency, productivity, sustainability, and safety in high-growth businesses in broad-based, attractive industrial end markets. They commercialize technologies that address some most critical challenges around energy, safety, security, air travel, productivity, and global urbanization. The company offers diversified technologies; it blends physical products with software to serve customers worldwide with aerospace products and services, energy-efficient products and solutions for businesses, process technology for refining and petrochemical applications, and safety and security technologies for buildings and industries.
Vertiv Co is a global leader in designing, manufacturing, and servicing critical digital infrastructure technology that powers, cools, deploys, secures, and maintains electronics that process, store, and transmit data. The company provides this technology to data centers, communication networks, and commercial and industrial environments worldwide. The company has a wide product portfolio, which includes AC and DC power management products, thermal management products, integrated rack systems, modular solutions, and management systems for monitoring and controlling digital infrastructure.
Parker Chomerics (a division of Parker Hannifin) provides end-to-end solutions for electromagnetic interference (EMI) shielding, thermal management, integrated display, engineered plastic, and metal-based assembly applications. The company offers thermal and power management products. These products are used in radars, aircraft, missiles, spacecraft, computers, fire control systems, and industrial electronics. Parker Chromerics also manufactures an innovative line of thermal interface materials. Products offered by the company are designed to improve the overall performance, integrity, survivability, and maintainability of applications wherein they are used. It offers customized engineered solutions, integrated housings and displays, and supply chain management solutions.
Delta Electronics, Inc.
Delta Electronics, Inc. is a leading provider of power and thermal management solutions, switching power supply solutions, network systems, automation products, and cooling devices. The company operates through three business segments: Power Electronics, Automation, and Infrastructure Business. Delta Electronics offers DC fans, thermal management solutions, thermal cabinet solutions, ventilation fans, and automotive fans through its Power Electronics business segment. It offers power systems and recharging equipment for automotive and electric cars through its Infrastructure Business segment.
Thermal Management Market by Material, Device (Conduction Cooling Devices, Convection Cooling Devices), Service (Installation & Calibration, Optimization & Post-sales Support), End-user Industry and Region – Global Forecast to 2028
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