Global Thermal Management Market Insights and Forecast to 2028

Thermal Management Market Statistics 2028

The global thermal management market size is projected to reach US$ 78300 million by 2028 from US$ 60120 million in 2021 at a CAGR of 3.8% during 2022-2028. Key drivers of the thermal management market include the increasing demand for efficient thermal management solutions in consumer electronics and the growing usage of electronic devices in various end-user industries. Further, technological advancements in thermal management systems and the miniaturization of electronic devices will spur the growth of the thermal management market during the forecast period.  

Trends Influencing The Global Thermal Management Market 

Increasing demand for thermal management solutions in consumer electronics and growing usage of electronic devices in various end-user industries

Consumer electronic devices generate excess heat. This excess heat requires efficient thermal management to prevent failures and increase reliability. Thermal management can be done through several techniques in the form of devices such as conduction, hybrid, and convection cooling devices. Further electronic devices are used in various end-user industries such as automotive, aerospace, defense, medical equipment, servers, data centers, which necessitate the need for thermal management. Thus growing demand from consumer electronics and increasing usage of electronic devices in end-user industries will expand the growth of the thermal management market during the forecast period.

Technological advancements and miniaturization of electronic devices

Technological advancements will produce cost-effective and efficient thermal management systems. One such technology is cool chip technology. These cool chips act as cooling agents in electronic devices installed in computers and automobiles. They help overcome thermal management issues during the early designing stage of electronic components. Also, the miniaturization of electronic devices leads to excessive power dissipation ultimately generating more heat. Thus technology advancements and miniaturization will create ample opportunities for the growth of the thermal management market during the forecast period.

Thermal Management Market Share Analysis

Based on product type, conduction cooling devices is the largest segment with a share of 40% and is expected to provide lucrative opportunities for growth in the thermal management market share during the forecast period.

Based on application, the automotive segment is expected to provide lucrative opportunities for growth in the thermal management market share during the forecast period.

Based on region, the Asia-Pacific segment is expected to provide lucrative opportunities for growth in the thermal management market share due to rising investments, the presence of chip manufacturing companies, and the growing need for efficient thermal management systems. China is expected to hold the largest share of 25% while the United States and EU will hold a total share of 40%.

Thermal Management Market Segment Analysis

The report has been segmented into product and application segments. The researchers have documented all the products present today in the Thermal Management market. They have also shed light on the new product innovations and launches by the key players. In the segmental analysis, the analysts have provided revenue forecast figures based on type and application for the period 2017-2028. They have also discussed the growth rate and potential of each segment for the period 2017-2028.

Thermal Management Market By Type

• Conduction Cooling Devices
• Convection Cooling Devices
• Hybrid Cooling Devices
• Others

Thermal Management Market By Application

• Automotive
• Aerospace and Defense
• Servers and Data Centers
• Consumer Electronics
• Medical Equipment
• Others

Thermal Management Market By Region

• North America
• United States
• Canada
• Europe
• Germany
• France
• UK
• Italy
• Russia
• Nordic Countries
• Rest of Europe
• Asia-Pacific
• China
• Japan
• South Korea
• Southeast Asia
• India
• Australia
• Rest of Asia
• Latin America
• Mexico
• Brazil
• Rest of Latin America
• Middle East & Africa
• Turkey
• Saudi Arabia
• UAE
• Rest of MEA

Competitive Landscape

This segment focuses on the key players operating in the industry. It underlines all the current and future activities by the prominent manufacturers. By understanding various initiatives being taken up by different players, readers will gain the ability to settle on correct business choices. The authors of the report have provided accurate revenue figures of the companies for the period 2017-2022. The clients are sure to gain the upper hand once they get hold of this report.

Thermal Management Market By Company

• DENSO
• Valeo
• MAHLE
• Hanon Systems
• Honeywell
• Vertiv
• Gentherm
• Delta
• Laird
• Boyd Corporation
• Heatex
• European Thermodynamics
• Advanced Cooling Technologies
• Dau Thermal Solutions

Scope of the Thermal Management Market Report

List of Tables

Table 1. Global Thermal Management Market Size Growth Rate by Type (US$ Million), 2017 VS 2021 VS 2028

Table 2. Key Players of Conduction Cooling Devices

Table 3. Key Players of Convection Cooling Devices

Table 4. Key Players of Hybrid Cooling Devices

Table 5. Key Players of Others

Table 6. Global Thermal Management Market Size Growth Rate by Application (US$ Million), 2017 VS 2021 VS 2028

Table 7. Global Thermal Management Market Size by Region (US$ Million): 2017 VS 2021 VS 2028

Table 8. Global Thermal Management Market Size by Region (2017-2022) & (US$ Million)

Table 9. Global Thermal Management Market Share by Region (2017-2022)

Table 10. Global Thermal Management Forecasted Market Size by Region (2023-2028) & (US$ Million)

Table 11. Global Thermal Management Market Share by Region (2023-2028)

Table 12. Thermal Management Market Trends

Table 13. Thermal Management Market Drivers

Table 14. Thermal Management Market Challenges

Table 15. Thermal Management Market Restraints

Table 16. Global Thermal Management Revenue by Players (2017-2022) & (US$ Million)

Table 17. Global Thermal Management Revenue Share by Players (2017-2022)

Table 18. Global Top Thermal Management by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Thermal Management as of 2021)

Table 19. Ranking of Global Top Thermal Management Companies by Revenue (US$ Million) in 2021

Table 20. Global 5 Largest Players Market Share by Thermal Management Revenue (CR5 and HHI) & (2017-2022)

Table 21. Key Players Headquarters and Area Served

Table 22. Key Players Thermal Management Product Solution and Service

Table 23. Date of Enter into Thermal Management Market

Table 24. Mergers & Acquisitions, Expansion Plans

Table 25. Global Thermal Management Market Size by Type (2017-2022) & (US$ Million)

Table 26. Global Thermal Management Revenue Market Share by Type (2017-2022)

Table 27. Global Thermal Management Forecasted Market Size by Type (2023-2028) & (US$ Million)

Table 28. Global Thermal Management Revenue Market Share by Type (2023-2028)

Table 29. Global Thermal Management Market Size by Application (2017-2022) & (US$ Million)

Table 30. Global Thermal Management Revenue Share by Application (2017-2022)

Table 31. Global Thermal Management Forecasted Market Size by Application (2023-2028) & (US$ Million)

Table 32. Global Thermal Management Revenue Share by Application (2023-2028)

Table 33. North America Thermal Management Market Size by Type (2017-2022) & (US$ Million)

Table 34. North America Thermal Management Market Size by Type (2023-2028) & (US$ Million)

Table 35. North America Thermal Management Market Size by Application (2017-2022) & (US$ Million)

Table 36. North America Thermal Management Market Size by Application (2023-2028) & (US$ Million)

Table 37. North America Thermal Management Market Size by Country (2017-2022) & (US$ Million)

Table 38. North America Thermal Management Market Size by Country (2023-2028) & (US$ Million)

Table 39. Europe Thermal Management Market Size by Type (2017-2022) & (US$ Million)

Table 40. Europe Thermal Management Market Size by Type (2023-2028) & (US$ Million)

Table 41. Europe Thermal Management Market Size by Application (2017-2022) & (US$ Million)

Table 42. Europe Thermal Management Market Size by Application (2023-2028) & (US$ Million)

Table 43. Europe Thermal Management Market Size by Country (2017-2022) & (US$ Million)

Table 44. Europe Thermal Management Market Size by Country (2023-2028) & (US$ Million)

Table 45. Asia Pacific Thermal Management Market Size by Type (2017-2022) & (US$ Million)

Table 46. Asia Pacific Thermal Management Market Size by Type (2023-2028) & (US$ Million)

Table 47. Asia Pacific Thermal Management Market Size by Application (2017-2022) & (US$ Million)

Table 48. Asia Pacific Thermal Management Market Size by Application (2023-2028) & (US$ Million)

Table 49. Asia Pacific Thermal Management Market Size by Region (2017-2022) & (US$ Million)

Table 50. Asia Pacific Thermal Management Market Size by Region (2023-2028) & (US$ Million)

Table 51. Latin America Thermal Management Market Size by Type (2017-2022) & (US$ Million)

Table 52. Latin America Thermal Management Market Size by Type (2023-2028) & (US$ Million)

Table 53. Latin America Thermal Management Market Size by Application (2017-2022) & (US$ Million)

Table 54. Latin America Thermal Management Market Size by Application (2023-2028) & (US$ Million)

Table 55. Latin America Thermal Management Market Size by Country (2017-2022) & (US$ Million)

Table 56. Latin America Thermal Management Market Size by Country (2023-2028) & (US$ Million)

Table 57. Middle East and Africa Thermal Management Market Size by Type (2017-2022) & (US$ Million)

Table 58. Middle East and Africa Thermal Management Market Size by Type (2023-2028) & (US$ Million)

Table 59. Middle East and Africa Thermal Management Market Size by Application (2017-2022) & (US$ Million)

Table 60. Middle East and Africa Thermal Management Market Size by Application (2023-2028) & (US$ Million)

Table 61. Middle East and Africa Thermal Management Market Size by Country (2017-2022) & (US$ Million)

Table 62. Middle East and Africa Thermal Management Market Size by Country (2023-2028) & (US$ Million)

Table 63. DENSO Company Details

Table 64. DENSO Business Overview

Table 65. DENSO Thermal Management Product

Table 66. DENSO Revenue in Thermal Management Business (2017-2022) & (US$ Million)

Table 67. DENSO Recent Developments

Table 68. Valeo Company Details

Table 69. Valeo Business Overview

Table 70. Valeo Thermal Management Product

Table 71. Valeo Revenue in Thermal Management Business (2017-2022) & (US$ Million)

Table 72. Valeo Recent Developments

Table 73. MAHLE Company Details

Table 74. MAHLE Business Overview

Table 75. MAHLE Thermal Management Product

Table 76. MAHLE Revenue in Thermal Management Business (2017-2022) & (US$ Million)

Table 77. MAHLE Recent Developments

Table 78. Hanon Systems Company Details

Table 79. Hanon Systems Business Overview

Table 80. Hanon Systems Thermal Management Product

Table 81. Hanon Systems Revenue in Thermal Management Business (2017-2022) & (US$ Million)

Table 82. Hanon Systems Recent Developments

Table 83. Honeywell Company Details

Table 84. Honeywell Business Overview

Table 85. Honeywell Thermal Management Product

Table 86. Honeywell Revenue in Thermal Management Business (2017-2022) & (US$ Million)

Table 87. Honeywell Recent Developments

Table 88. Vertiv Company Details

Table 89. Vertiv Business Overview

Table 90. Vertiv Thermal Management Product

Table 91. Vertiv Revenue in Thermal Management Business (2017-2022) & (US$ Million)

Table 92. Vertiv Recent Developments

Table 93. Gentherm Company Details

Table 94. Gentherm Business Overview

Table 95. Gentherm Thermal Management Product

Table 96. Gentherm Revenue in Thermal Management Business (2017-2022) & (US$ Million)

Table 97. Gentherm Recent Developments

Table 98. Delta Company Details

Table 99. Delta Business Overview

Table 100. Delta Thermal Management Product

Table 101. Delta Revenue in Thermal Management Business (2017-2022) & (US$ Million)

Table 102. Delta Recent Developments

Table 103. Laird Company Details

Table 104. Laird Business Overview

Table 105. Laird Thermal Management Product

Table 106. Laird Revenue in Thermal Management Business (2017-2022) & (US$ Million)

Table 107. Laird Recent Developments

Table 108. Boyd Corporation Company Details

Table 109. Boyd Corporation Business Overview

Table 110. Boyd Corporation Thermal Management Product

Table 111. Boyd Corporation Revenue in Thermal Management Business (2017-2022) & (US$ Million)

Table 112. Boyd Corporation Recent Developments

Table 113. Heatex Company Details

Table 114. Heatex Business Overview

Table 115. Heatex Thermal Management Product

Table 116. Heatex Revenue in Thermal Management Business (2017-2022) & (US$ Million)

Table 117. Heatex Recent Developments

Table 118. European Thermodynamics Company Details

Table 119. European Thermodynamics Business Overview

Table 120. European Thermodynamics Thermal Management Product

Table 121. European Thermodynamics Revenue in Thermal Management Business (2017-2022) & (US$ Million)

Table 122. European Thermodynamics Recent Developments

Table 123. Advanced Cooling Technologies Company Details

Table 124. Advanced Cooling Technologies Business Overview

Table 125. Advanced Cooling Technologies Thermal Management Product

Table 126. Advanced Cooling Technologies Revenue in Thermal Management Business (2017-2022) & (US$ Million)

Table 127. Advanced Cooling Technologies Recent Developments

Table 128. Dau Thermal Solutions Company Details

Table 129. Dau Thermal Solutions Business Overview

Table 130. Dau Thermal Solutions Thermal Management Product

Table 131. Dau Thermal Solutions Revenue in Thermal Management Business (2017-2022) & (US$ Million)

Table 132. Dau Thermal Solutions Recent Developments

Table 133. Research Programs/Design for This Report

Table 134. Key Data Information from Secondary Sources

Table 135. Key Data Information from Primary Sources

List of Figures

Figure 1. Global Thermal Management Market Share by Type: 2021 VS 2028

Figure 2. Conduction Cooling Devices Features

Figure 3. Convection Cooling Devices Features

Figure 4. Hybrid Cooling Devices Features

Figure 5. Others Features

Figure 6. Global Thermal Management Market Share by Application: 2021 VS 2028

Figure 7. Automotive Case Studies

Figure 8. Aerospace and Defense Case Studies

Figure 9. Servers and Data Centers Case Studies

Figure 10. Consumer Electronics Case Studies

Figure 11. Medical Equipment Case Studies

Figure 12. Others Case Studies

Figure 13. Thermal Management Report Years Considered

Figure 14. Global Thermal Management Market Size (US$ Million), Year-over-Year: 2017-2028

Figure 15. Global Thermal Management Market Size, (US$ Million), 2017 VS 2021 VS 2028

Figure 16. Global Thermal Management Market Share by Region: 2021 VS 2028

Figure 17. Global Thermal Management Market Share by Players in 2021

Figure 18. Global Top Thermal Management Players by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Thermal Management as of 2021)

Figure 19. The Top 10 and 5 Players Market Share by Thermal Management Revenue in 2021

Figure 20. North America Thermal Management Market Size YoY (2017-2028) & (US$ Million)

Figure 21. North America Thermal Management Market Size Market Share by Type (2017-2028)

Figure 22. North America Thermal Management Market Size Market Share by Application (2017-2028)

Figure 23. North America Thermal Management Market Size Share by Country (2017-2028)

Figure 24. United States Thermal Management Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 25. Canada Thermal Management Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 26. Europe Thermal Management Market Size YoY (2017-2028) & (US$ Million)

Figure 27. Europe Thermal Management Market Size Market Share by Type (2017-2028)

Figure 28. Europe Thermal Management Market Size Market Share by Application (2017-2028)

Figure 29. Europe Thermal Management Market Size Share by Country (2017-2028)

Figure 30. Germany Thermal Management Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 31. France Thermal Management Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 32. U.K. Thermal Management Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 33. Italy Thermal Management Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 34. Russia Thermal Management Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 35. Nordic Countries Thermal Management Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 36. Asia-Pacific Thermal Management Market Size YoY (2017-2028) & (US$ Million)

Figure 37. Asia Pacific Thermal Management Market Size Market Share by Type (2017-2028)

Figure 38. Asia Pacific Thermal Management Market Size Market Share by Application (2017-2028)

Figure 39. Asia Pacific Thermal Management Market Size Share by Region (2017-2028)

Figure 40. China Thermal Management Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 41. Japan Thermal Management Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 42. South Korea Thermal Management Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 43. Southeast Asia Thermal Management Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 44. India Thermal Management Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 45. Australia Thermal Management Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 46. Latin America Thermal Management Market Size YoY (2017-2028) & (US$ Million)

Figure 47. Latin America Thermal Management Market Size Market Share by Type (2017-2028)

Figure 48. Latin America Thermal Management Market Size Market Share by Application (2017-2028)

Figure 49. Latin America Thermal Management Market Size Share by Country (2017-2028)

Figure 50. Mexico Thermal Management Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 51. Brazil Thermal Management Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 52. Middle East & Africa Thermal Management Market Size YoY (2017-2028) & (US$ Million)

Figure 53. Middle East and Africa Thermal Management Market Size Market Share by Type (2017-2028)

Figure 54. Middle East and Africa Thermal Management Market Size Market Share by Application (2017-2028)

Figure 55. Middle East and Africa Thermal Management Market Size Share by Country (2017-2028)

Figure 56. Turkey Thermal Management Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 57. Saudi Arabia Thermal Management Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 58. UAE Thermal Management Market Size YoY Growth (2017-2028) & (US$ Million)

Figure 59. DENSO Revenue Growth Rate in Thermal Management Business (2017-2022)

Figure 60. Valeo Revenue Growth Rate in Thermal Management Business (2017-2022)

Figure 61. MAHLE Revenue Growth Rate in Thermal Management Business (2017-2022)

Figure 62. Hanon Systems Revenue Growth Rate in Thermal Management Business (2017-2022)

Figure 63. Honeywell Revenue Growth Rate in Thermal Management Business (2017-2022)

Figure 64. Vertiv Revenue Growth Rate in Thermal Management Business (2017-2022)

Figure 65. Gentherm Revenue Growth Rate in Thermal Management Business (2017-2022)

Figure 66. Delta Revenue Growth Rate in Thermal Management Business (2017-2022)

Figure 67. Laird Revenue Growth Rate in Thermal Management Business (2017-2022)

Figure 68. Boyd Corporation Revenue Growth Rate in Thermal Management Business (2017-2022)

Figure 69. Heatex Revenue Growth Rate in Thermal Management Business (2017-2022)

Figure 70. European Thermodynamics Revenue Growth Rate in Thermal Management Business (2017-2022)

Figure 71. Advanced Cooling Technologies Revenue Growth Rate in Thermal Management Business (2017-2022)

Figure 72. Dau Thermal Solutions Revenue Growth Rate in Thermal Management Business (2017-2022)

Figure 73. Bottom-up and Top-down Approaches for This Report

Figure 74. Data Triangulation

Figure 75. Key Executives Interviewed