Thermal Management Market

Market Leadership - Thermal Management Market

The thermal management market is expected to grow from an estimated value of USD 11.1 billion in 2019 to USD 16.2 billion by 2024, at a CAGR of 8.0%. Major factors driving the thermal management market include rising demand for effective thermal management solutions & systems in consumer electronics, increasing use of electronic devices in different end-use industries, and ongoing radical miniaturization of electronic devices.

Key players in the thermal management ecosystem include Honeywell International Inc. (US), Aavid Thermalloy LLC. (US), Vertiv Co. (US), European Thermodynamics Ltd. (UK), Master Bond Inc. (US), Advanced Cooling Technologies, Inc. (US), Dau Thermal Solutions Inc. (US), Amerasia International Technology Inc. (US), Heatex AB (Sweden), and LORD Corporation (US). Product launches and developments have been the key strategies adopted by the players to grow and stay competitive in the thermal management market between January 2016 and April 2019. The ongoing R&D in thermal technologies has encouraged companies to adopt these strategies. Besides product launches and developments, companies have adopted partnerships, agreements, and strategic alliances to enhance their product portfolio. These strategies have significantly strengthened their position in the overall thermal management market.

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Aavid Thermalloy offers a comprehensive portfolio of thermal management solutions for a range of industries. The company is one of the pioneers in the thermal management market. The company has adopted the strategy of product launches to ensure its growth, increase its product offerings, and enhance its market share.

  • In June 2017, Aavid launched Aavid Genie, a new web application that allows engineers, including those with limited thermal management experience to design effective heat sinks that can be manufactured in minutes.

Vertiv is one of the major players in the thermal management market. The company offers a wide range of products and has operations in Latin America, Asia, the US, Canada, the Middle East & Africa, and Europe. Vertiv has adopted product launch as a growth strategy to increase its production efficiency and gain a competitive edge over other players in the market.

  • sIn December 2017, Vertiv introduced three high-capacity cooling solutions: Liebert EFC indirect evaporative free-cooling solution, Liebert DSE packaged free-cooling system, and Liebert DSE free-cooling system for the flourishing colocation and cloud hosting data center markets.

Related Reports:

Thermal Management Market by Material (Adhesives, Nonadhesive), Device (Conduction, Convection, Advanced, and Hybrid), Service (Installation & Calibration and Optimization & Post-sales Support), End-Use Industry, and Region – Global Forecast to 2024

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Report Code
SE 5290
RI Published ON
7/26/2019
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